M.V.K. Agro Food Product Limited — Results, 23-07-2025: Reply to Clarification- Financial results

M.V.K. Agro Food Product has provided clarity on its fund utilization from a recent issue, as of March 31, 2025. The company received total proceeds of ₹65.88 Cr, with net proceeds available for projects amounting to ₹58.25 Cr after accounting for issue expenses.

Out of the ₹58.25 Cr net proceeds, ₹18.37 Cr has been utilized. A significant portion, ₹52.38 Cr, was allocated for setting up a new greenfield unit in Nanded for ethanol, bio-CNG, and fertilizer manufacturing. Of this, ₹12.50 Cr has been spent, leaving a balance of ₹39.88 Cr for this project. The entire ₹5.87 Cr allocated for general corporate purposes has been fully utilized.

The company confirms there are no deviations in the objects or the amount of funds utilized compared to original disclosures. This update provides transparency on the progress of their strategic projects.