Shree Rajasthan Syntex Fully Deploys Rs 10.77 Crore by September 30

Shree Rajasthan Syntex Limited fully deployed Rs 10.77 crore raised in its November 28, 2025 preferential equity issue by September 30, 2026, including Rs 40.70 lakh that completed its Rs 3 crore capital-expenditure allocation. The company reported no deviation or variation from the original fund-use objects and nil unutilised proceeds.

What preferential-issue proceeds did Shree Rajasthan Syntex fully use?

Shree Rajasthan Syntex fully used the Rs 10.77 crore net proceeds from its preferential equity allotment by September 30, 2026. The company raised the money through the issue of 81.25 lakh equity shares at Rs 13.25 each on November 28, 2025, according to its utilisation certificate and statement of deviation or variation.

The company had utilised Rs 10.09 crore by March 31, 2026, leaving Rs 66.69 lakh for deployment over the following six months. It used Rs 26.69 lakh during April 1 to June 30, 2026, and reported a further Rs 40.70 lakh utilised through September 30, bringing the unutilised amount to nil.

How did Shree Rajasthan Syntex allocate Rs 10.77 crore?

Shree Rajasthan Syntex allocated Rs 4.57 crore to working-capital requirements, Rs 3 crore to capital expenditure, Rs 2.55 crore to repayment of unsecured inter-corporate loans, and Rs 65 lakh to workmen and employee dues. These four objects total the Rs 10.77 crore net proceeds disclosed in the September 30 filing.

Working capital was the largest use at Rs 4.57 crore, and the company had fully deployed it by March 31, 2026. Shree Rajasthan Syntex said the working-capital object included preferential-issue expenses, payments to creditors and business expenses; the Rs 2.55 crore loan-repayment and Rs 65 lakh employee-dues allocations were also fully used by that date.

Capital expenditure was the only object partly unutilised after March 31, 2026, when Rs 2.33 crore of its Rs 3 crore allocation had been used. Shree Rajasthan Syntex described the object as purchases of new machinery and equipment, but the filing does not identify individual assets, suppliers, project locations, commissioning dates or output targets.

When did Shree Rajasthan Syntex complete capital-expenditure spending?

Shree Rajasthan Syntex completed the Rs 3 crore capital-expenditure allocation by September 30, 2026. It had used Rs 2.33 crore by March 31, followed by Rs 26.69 lakh during April to June 2026 and Rs 40.70 lakh reported through September 30.

The separate deviation statement records cumulative capital-expenditure utilisation of Rs 2.59 crore at June 30, 2026 and Rs 3 crore at September 30, 2026. The Rs 40.70 lakh increase over that later period completed the original allocation, leaving no capital-expenditure proceeds unutilised.

Shree Rajasthan Syntex reported property, plant and equipment of Rs 15.04 crore at September 30, 2026, compared with Rs 14.31 crore at March 31, 2026. The Rs 72.85 lakh increase occurred during the same six months as the final Rs 67.39 lakh of preferential-issue capital-expenditure deployment, although the filing does not directly reconcile the two figures.

Did Shree Rajasthan Syntex report any deviation in fund use?

Shree Rajasthan Syntex reported no deviation or variation in the use of preferential-issue funds for the quarter ended September 30, 2026. Its deviation statement listed zero unutilised funds against each of the four original objects and did not report a modified object or a shareholder-approved change in use.

Doogar & Associates stated in its November 5, 2026 certificate that the utilisation statement agreed with Shree Rajasthan Syntex’s unaudited financial statements for the six months ended September 30, 2026. The chartered accountant said the statement fairly presented, in all material respects, the manner in which the funds had been used.

The certificate was issued for the Board’s compliance with Listing Regulations and says the auditor has no responsibility to update it for events after its November 5, 2026 report date. The deviation statement also says no monitoring agency was applicable to the Rs 10.77 crore preferential issue.

What do Shree Rajasthan Syntex’s latest results show alongside deployment?

Shree Rajasthan Syntex reported revenue from operations of Rs 7.92 crore for the half year ended September 30, 2026, compared with Rs 7.01 crore in the corresponding half of 2025. Its net loss narrowed to Rs 1.18 crore from Rs 4.11 crore, although the earlier half-year result included an exceptional gain of Rs 1.51 crore.

For the September 2026 quarter, revenue was Rs 4.16 crore, compared with Rs 3.76 crore in the June 2026 quarter and Rs 3.60 crore in the September 2025 quarter. The quarterly net loss was Rs 48.21 lakh, narrower than Rs 69.91 lakh in the immediately preceding quarter and Rs 2.78 crore a year earlier.

Cash and cash equivalents stood at Rs 1.27 crore on September 30, 2026, down from Rs 1.71 crore at March 31, 2026. The half-year cash-flow statement reported operating cash outflow of Rs 54.36 lakh, investing cash outflow of Rs 23.65 lakh and financing cash inflow of Rs 34.55 lakh, resulting in a net cash decrease of Rs 43.46 lakh.

Conclusion

Shree Rajasthan Syntex’s September 30 disclosures show that all four stated uses of the Rs 10.77 crore preferential-equity proceeds were completed, with capital expenditure the final allocation to reach its Rs 3 crore limit. The company reported no deviation, no revised object and no remaining balance, while the utilisation certificate said the statement agreed with its unaudited six-month financial statements.

The next disclosure to watch is whether Shree Rajasthan Syntex identifies the machinery and equipment funded by the Rs 3 crore capital-expenditure object, because the November 5, 2026 filing does not specify assets, suppliers, commissioning dates or output targets. Subsequent quarterly results can also show whether revenue above Rs 4 crore in the September 2026 quarter is maintained after the capital spending was completed.