Niraj Cement Structurals Limited — Others, 22-05-2025: Statement of deviation(s) or variation(s) under Reg. 32

Niraj Cement Structurals Limited has confirmed that Rs. 103.56 Cr raised through preferential issues has been used as intended, mainly for working capital, subsidiary investments, and general corporate needs. With Rs. 90.82 Cr utilized so far, adjustments were made due to under-subscription and approvals, slightly reducing some planned expenditures. CARE Ratings remains the monitoring agency, and both the Audit Committee and auditors have raised no concerns, reflecting disciplined fund management aligned with strategic growth plans.