Bhavik Enterprises Submits Q3FY26 Monitoring Agency Report Under SEBI Regulations

Bhavik Enterprises Limited has submitted its monitoring agency report for the quarter ended December 31, 2025, to BSE Limited under Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Regulation 262(4) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. Regulatory Compliance and Submission The submission was made on February 13, 2026, by Company Secretary and Compliance Officer Nikhil Bhatt. The monitoring agency report was issued by Infomerics Valuation and Rating Limited, covering the utilization of proceeds from the company's initial public offering (IPO) worth ₹63.00 crore. IPO Proceeds Utilization Summary According to the monitoring agency report dated February 12, 2026, the company has made significant progress in utilizing IPO funds during Q3FY26. The report confirms no deviation from the stated objects of the issue. Particulars Amount Raised (₹ in Crore) Amount Utilized During Q3FY26 (₹ in Crore) Unutilized Amount (₹ in Crore) Funding Working Capital Requirements 47.50 27.95 19.55 General Corporate Purposes 7.10 - 7.10 Total 54.60 27.95 26.65 Fund Deployment and Management The company utilized ₹27.95 crore during Q3FY26 primarily for payments to Borouge Pte Ltd for purchase of goods, as Bhavik Enterprises Limited serves as the authorized distributor of the company. The monitoring agency confirmed that the utilization is in accordance with the stated objects and purposes disclosed in the offer document. The unutilized funds amounting to ₹26.65 crore are deployed in fixed deposits with Bank of Baroda across four different instruments with varying maturity dates and interest rates ranging from 5.75% to 6.60%. Previous Fund Utilization Certificate Earlier, the company had submitted a statutory auditor certificate on February 13, 2026, regarding fund utilization as working capital under SEBI Regulation 262(6). The auditor's certificate dated January 22, 2026, prepared by M Parashar & Co., showed utilization of ₹2,794.57 lakhs out of ₹5,460.18 lakhs raised for working capital and general corporate purposes. Monitoring Agency Certification Infomerics Valuation and Rating Limited, serving as the monitoring agency, declared no deviation from the objects of the issue and confirmed that the report provides a true and fair view of the utilization of issue proceeds. The agency verified details through bank statements, CA certificates, and ledgers maintained by the company. Company Information Bhavik Enterprises Limited is an ISO 9001:2015 certified company engaged in trading of polymers, primarily Polyethylene (PE) and Polypropylene (PP). The company trades on BSE with symbol BHAVIK, ISIN INE18PB01017, and scrip code 544551, with its registered office at 1105, DLH Park, S.V. Road, Goregaon (W), Mumbai - 400062. Bhavik Enterprises Limited has resubmitted its unaudited financial results for the half-year ended September 30, 2025, after inadvertently omitting a page containing notes to the financial results in the original PDF document. The company, which recently completed its Initial Public Offering (IPO), reported a significant increase in revenue but a decrease in net profit compared to the previous year. Financial Performance The polymer trading company's financial highlights for the half-year ended September 30, 2025, are as follows: Particulars H1 2025 H1 2024 YoY Change Revenue 29,427.97 25,376.46 15.97% Net Profit 426.43 655.14 -34.91% Note: All figures in ₹ lakhs The company attributed its revenue growth to increased execution of more volume and tapping of new customers. However, the reason for the decline in net profit was not explicitly stated in the provided information. Initial Public Offering (IPO) Bhavik Enterprises Limited successfully completed its IPO, marking a significant milestone for the company. Key details of the IPO include: Allotment of 45,00,000 equity shares Issue price: ₹140 per share (face value ₹10, premium ₹130) Total funds raised: ₹6,300 lakhs Net proceeds after expenses: ₹5,460 lakhs Listing: BSE's SME platform on October 6, 2025 The company plans to utilize the net proceeds primarily for funding working capital requirements (87% of net proceeds) and general corporate purposes (13% of net proceeds). Foreign Currency Exposure As of September 30, 2025, Bhavik Enterprises reported: Foreign currency assets: ₹543.55 lakhs Foreign currency liabilities: ₹8,072.07 lakhs The company manages currency risk through natural hedges and periodic review of exposures by management. Exchange differences arising from foreign currency transactions are recognized in the Statement of Profit and Loss. Additional Notes The company operates in a single business segment: trading of polymers. The financial results have been reviewed by the Audit Committee and approved by the Board of Directors on November 10, 2025. A limited review of the standalone financial results has been carried out by the Statutory Auditors. Investors and stakeholders can access the detailed financial results on the company's website at www.bhavikenterprises.com . The resubmission of financial results with the inclusion of previously omitted notes demonstrates Bhavik Enterprises' commitment to transparency and compliance with regulatory requirements. As the company navigates its post-IPO phase, stakeholders will likely be keen to observe how it leverages the raised funds to drive growth and address the challenges reflected in its reduced net profit. 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