Coromandel Engineering Company News

Coromandel Engineering Reports No Deviation in Use of Rs 6.6 Crore Preferential Issue Proceeds

Coromandel Engineering Company Limited confirmed no deviation or variation in the use of proceeds from its preferential allotment of 16,49,840 equity shares for the quarter ended September 30, 2025. The company raised Rs 6,60,76,092 through the preferential issue and utilized Rs 32,89,841.77 during the quarter. The funds were allocated towards general corporate purposes, upcoming projects execution, and bank guarantees/performance guarantees for projects. The Audit Committee reviewed and approved the statement confirming proper utilization of proceeds without any deviation from the original objects.

Coromandel Engineering Reports Net Loss in Quarter Ended September 2025

Coromandel Engineering Company Limited announced its unaudited financial results for the quarter and half year ended September 30, 2025. The company reported a net loss after tax of Rs 69.12 lakhs for the quarter, compared to a net profit of Rs 41.49 lakhs in the previous year quarter. Total revenue for the quarter was Rs 3,994.05 lakhs. The company raised Rs 6.61 crores through preferential equity issue during the quarter, with Rs 32.90 lakhs utilized for general corporate purposes and upcoming projects. The Board of Directors approved these results at their meeting held on November 11, 2025. The company operates in the construction business segment.