Sylvan Plyboard (India) Limited — Others, 29-05-2025: Statement of deviation(s) or variation(s) under Reg. 32

Sylvan Plyboard India Ltd has confirmed that the Rs. 28.05 Cr raised through its IPO was utilized as planned, with capital expenditure at Rs. 3.71 Cr, working capital at Rs. 16.93 Cr, issue expenses at Rs. 3.10 Cr, and general corporate purposes at Rs. 4.30 Cr. The Audit Committee reviewed and validated this adherence, reinforcing strong financial discipline and transparent fund management, which supports shareholder confidence in the company’s operational execution.