Company Response to Exchange Query on Non-Submission of Consolidated Financial Results
NSE Symbol: BONLON
Date and Nature of Exchange Communication
Bonlon Industries Limited responded to queries from both the National Stock Exchange of India Limited (NSE) and BSE Limited regarding the non-submission of Consolidated Financial Results for the quarter ended June 30, 2026. The NSE query was received via email dated September 10, 2026, and the company had previously submitted a response on September 09, 2026.
Company's Clarification on Trading Volume and Financial Results
The company clarified that it did not submit Consolidated Financial Results because it had no subsidiaries requiring consolidation as of June 30, 2026. This was due to the complete divestment of its wholly owned subsidiary, M/s SHV Industries Private Limited.
Key details of the subsidiary sale:
- Entire shareholding of 100,000 equity shares (₹10 each) representing 100% paid-up share capital was transferred
- Board of Directors approved the sale/transfer at meeting held on May 30, 2026
- Shares transferred to Mr. Arun Kumar Jain (99,998 shares) and Mrs. Smita Jain (2 shares)
- Consideration amount: ₹10,00,000 received via cheques dated May 30, 2026, cleared on June 24, 2026
- SHV Industries ceased to be a subsidiary effective May 30, 2026
The company provided supporting documents including ledger accounts, copies of cheques, and bank statements showing transaction clearance on June 24, 2026.
Regulatory Compliance with SEBI Regulations
The company disclosed that:
- The transaction was reported to BSE and NSE under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements on May 30, 2026
- Regulation 33 of the SEBI (LODR) Regulations, 2018 did not require consolidation as the company had no subsidiary, associate or joint venture as of June 30, 2026
- The Standalone Un-audited Financial Results for Q1 FY27 appropriately reflected this disinvestment
Auditor Certification
Gaur & Associates (Chartered Accountants, Firm Registration No.: 005354C) provided a separate certificate dated September 12, 2026 confirming:
- Verification of books of account, board resolution, and bank realization records
- The non-applicability of consolidated financial results for the quarter ended June 30, 2026
- Proper accounting treatment in standalone financial results
The certificate was signed by S. K. Gupta, Partner (Membership No.: 016746) with UDIN: 26016746BXOWGU6584.
Topic Tags: Regulatory Response, Financial Results Clarification, Subsidiary Divestment, SEBI Compliance, Corporate Restructuring