Simplex Infrastructures Ltd

Overview of fund deviation

• Purpose: No deviation or variation in use of funds raised.
• Mode: Preferential Issue.
• Fund-raising date: disclosed in filing.
• Total funds raised: disclosed; no deviation.
• Equity portion: disclosed; no deviation.
• Warrant upfront consideration: disclosed; no deviation.
• Conversion component on exercise: disclosed; no deviation.
• Monitoring agency: Care Ratings Limited.
• Shareholder approval: Not applicable.
• Audit Committee comments: No comments.
• Auditors comments: No comments.
• Original vs modified objects: Not applicable.
• Utilisation status: not explicitly stated.
• Deviation/variation: Not applicable.
• Objects for which funds raised: Not applicable.

Issue Overview

• Type of issue: preferential issue of Equity Shares and Convertible Warrants.
• Total issue size: Rs 423.69 crore; net proceeds not disclosed; no deviation reported.
• Main objectives: Working Capital and General Corporate Purposes (WC 318.69 cr; GCP 105 cr).

Utilisation of Proceeds

• Utilisation per offer: as disclosed; no deviations observed.
• Working Capital: funds received till 30/06/2026: 281.59 cr; end-quarter balance: 143.76 cr; unutilised: 77.80 cr.
• Working Capital uses: salaries, subcontractors, suppliers, statutory payments, BG margins.
• General Corporate Purpose: utilised 12.47 cr in quarter; end-quarter unutilised: 60.03 cr.
• GCP uses: salaries, legal expenses, subcontractor payments, admin expenses.
• Unutilised proceeds deployed in Punjab National Bank fixed deposits; total 77.80 cr; current account 11.09 cr; interest income 8.29 cr.
• Progress status: both WC and GCP ongoing; no delays reported.

Governance & Compliance

• All statutory approvals related to objects obtained.
• No material deviations observed; no change in means of finance.
• Material risk: share price below warrant conversion price, potentially hindering conversion.
• Debt-servicing delays flagged; CARE rating assigned (CARE D).

General Corporate Purpose (GCP) details

• GCP usage total: 12.47 cr; heads include salaries, sub-contractors and admin, legal expenses.
• Salary expenses allocated between WC and GCP depending on contract status.

Standalone results

• Standalone Q1 FY27: revenue ₹15,006 lakh; total income ₹15,332 lakh; PAT ₹1,043 lakh; EPS ₹1.32.
• PBT before tax ₹1,443 lakh; OCI ₹(59) lakh; total comprehensive income ₹984 lakh.

Consolidated results

• Consolidated Q1 FY27: total income ₹29,381 lakh; PBT ₹1,483 lakh; PAT ₹1,067 lakh; CI ₹1,010 lakh.

Debt & restructuring

• MRA with NARCL; major portion settled; remaining debt with one lender at advance stage.
• Standalone DSCR 0.61; ISCR 9.76; current ratio 2.39; debt-equity 1.77.
• Overdue debts to non-assigned lenders under negotiation.

Utilisation of proceeds

• Monitoring agency CARE: no deviation in utilization; funds used for working capital and GCP.
• Unutilised preferential proceeds as of 30 Jun 2026: ₹77.80 crore.
• FDs with Punjab National Bank; yields around 6.25%.

Board actions & timelines

• Board approved standalone & consolidated results on Aug 11, 2026.
• Working capital completion dates: May 29, 2027 and July 17, 2027; no delays.

Dematerialisation processing

• Demat Transfer Register for the period was sent to depositories and stock exchanges.
• Physical certificates received for dematerialisation were mutilated and cancelled after verification.
• Registrar and Transfer Agent confirmed compliance under Regulation 74(5).
• Securities dematerialised were processed within the prescribed timeline.