PTC Industries Q3 FY26 Monitoring Report: ICRA Confirms No Deviation in ₹700 Crore QIP Utilisation
Lucknow/Mumbai, February 14, 2026: PTC Industries Limited has submitted its Monitoring Agency Report for the quarter ended December 31, 2025, to the stock exchanges under Regulation 32(6) of SEBI’s Listing Obligations and Disclosure Requirements.
The report, prepared by ICRA Limited, confirms that there has been no deviation in the utilisation of proceeds raised through the company’s Qualified Institutional Placement (QIP) conducted in August–September 2024.
QIP Overview
PTC Industries had raised approximately ₹700 crore through a QIP issue of equity shares, with net proceeds of ₹673.26 crore as per the placement document.
The funds were earmarked for:
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Repayment or prepayment of certain outstanding borrowings
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Capital expenditure, including expansion of manufacturing facilities and investment in subsidiary Aerolloy Technologies Limited
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Working capital requirements
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Inorganic growth initiatives
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General corporate purposes
Utilisation Status as of December 31, 2025
According to the monitoring report:
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Total utilised: ₹574.91 crore
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Unutilised amount: ₹125.09 crore
ICRA noted that utilisation during the quarter remained aligned with the stated objectives in the placement document.
Repayment of borrowings and funding of working capital and inorganic growth initiatives have been completed as planned. Capital expenditure and general corporate purposes remain on schedule for completion in FY2026.
Deployment of Unutilised Funds
The unutilised balance of ₹125.09 crore has been temporarily parked in fixed deposits with YES Bank and PNB Bank, earning returns ranging between 5% and 6.2%, along with minor balances in designated accounts. The total market value of these investments stood at ₹126.95 crore at the end of the quarter.
Monitoring Agency’s Observations
ICRA clarified that its report provides an objective view of fund utilisation based on documents and certifications furnished by the company. It does not constitute an audit or an evaluation of the commercial viability of the underlying projects.
The agency also confirmed that it does not perceive any conflict of interest in monitoring and reporting on the QIP proceeds.
Regulatory Compliance
The disclosure has been made to both the National Stock Exchange and BSE in compliance with SEBI regulations. The company has stated that there have been no material deviations—defined as a change in objects or utilisation exceeding 10% of the specified amount.
With key repayment obligations completed and expansion plans progressing as scheduled, PTC Industries continues to execute its post-QIP capital allocation strategy in line with its disclosed roadmap.