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Modern Dairies Ltd. has filed its Statement of Deviation and Variation for the quarter ended September 30, 2025. The company confirmed no deviation in the use of funds from a preferential issue of 10.75 Cr, which was fully utilized for strengthening its capital base and operations. Similarly, there was no deviation in the use of 8.63 Cr raised from warrant conversions, with 6.61 Cr utilized towards long-term capital and operations. This indicates transparent and intended utilization of capital.