REXPRO Enterprises Files Q4FY26 Monitoring Agency Report; Delays in Implementation Noted

REXPRO Enterprises has submitted its Monitoring Agency Report for the quarter ended March 31, 2026, to the National Stock Exchange of India (NSE). The disclosure was made in compliance with Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and was reviewed by Acuité Ratings and Research Limited. The report covers the utilization of proceeds from the company's public issue, which opened on January 22, 2025, and closed on January 24, 2025, with a total issue size of INR 47.13 Cr.

Utilization of Issue Proceeds

The monitoring agency confirmed that the means of finance for the disclosed objects have not changed, and no material deviations from the expenditures disclosed in the Offer Document were observed. As of the half-year ended March 2026, the company has utilized a total of INR 28.74 Cr. out of the raised capital. The deployment of funds across various objects is detailed below:

Object: Amount Proposed (INR Cr.) Amount Utilized (INR Cr.) Unutilized Amount (INR Cr.) Purchase of Equipment and Renovation of Factory 25.00 10.13 14.87 Funding of Working Capital Requirements 10.00 10.00 Nil Pursuing Inorganic Growth 3.52 - 3.52 General Corporate Expenses 5.84 5.84 Nil Fresh Issue Expenses 2.77 2.77 Nil Total 47.13 28.74 18.39

Deployment of Unutilized Funds

The unutilized proceeds totaling INR 18.386 Cr. have been invested in fixed deposits with The Cosmos Co-op Bank Limited, generating a return of 7.50% per annum. The specific deployment of these idle funds is outlined in the following table:

Instrument: Amount Invested (INR Cr.) Maturity Date Earning (INR Cr.) Market Value (INR Cr.) Fixed Deposit - The Cosmos Co-op Bank Limited 5.000 July 07, 2027 0.026 5.000 Fixed Deposit - The Cosmos Co-op Bank Limited 5.000 July 07, 2027 0.026 5.000 Fixed Deposit - The Cosmos Co-op Bank Limited 5.000 July 07, 2027 0.026 5.000 Fixed Deposit - The Cosmos Co-op Bank Limited 3.386 July 07, 2027 0.017 3.386 Total 18.386 0.094 18.386

Delays in Implementation

The report highlights delays in the implementation of specific objects. The purchase of equipment and renovation of the factory, initially scheduled for completion by March 31, 2025, has faced a delay of 400 days as of the report date. The company's Board of Directors stated that the delay is primarily due to changes and upgradation in technology, requiring multiple rounds of vendor discussions to evaluate suitable technological solutions aligned with evolving industry standards. The vendor is currently in the process of finalizing the upgraded technology, and the object will be carried forward to FY 2026-27.

Additionally, the object for pursuing inorganic growth, which had a target completion date of March 31, 2026, has been delayed by 35 days. The company had planned to acquire 76% equity in a company engaged in the customized furniture manufacturing segment but could not conclude the transaction due to commercial considerations and other mutually relevant factors. The company intends to continue exploring suitable acquisition opportunities in the customized furniture manufacturing segment, subject to commercial viability and mutually agreeable terms.

General Corporate Purpose Utilization

The monitoring agency also confirmed the utilization of funds allocated under General Corporate Purpose (GCP). The entire INR 5.84 Cr. earmarked under this head was deployed for making payments to vendors in the ordinary course of business, as verified through documents including the Statutory Auditors Certificate issued by M/s Mittal Agarwal & Co.

Item Head: Amount (INR Cr.) Payment to Vendors 5.84 Total 5.84

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