Key Quantitative Figures
The Exchange levied a fine of ₹30,000 plus applicable GST of ₹5,400, aggregating to ₹35,400.
Dates of Action
- Fine levied for delay in submission of financial results for quarter ended June 30, 2026
- Exchange communication dated September 11, 2026
- Board meeting held on November 07, 2026 to review the matter
- Fine has been paid by the Company
Reason for Delay
The delay was occasioned due to implementation of a new ERP system across the Company, which necessitated extensive validation and reconciliation of migrated financial data including:
- Opening balances
- Inventory records
- Fixed assets
- GST reconciliations
- Inter-company/inter-branch balances
The Company proactively informed Stock Exchanges regarding the postponement of the Board Meeting prior to the statutory due date.
Board Observations and Comments
The Board reviewed the circumstances and noted that:
- The delay was neither deliberate nor attributable to any intent to withhold material information from investors
- The delay arose due to exceptional operational circumstances associated with the ERP transition
- The Company's endeavor was to ensure financial results presented a true and fair view of its financial position
- The Company had provided detailed clarifications to the Exchange regarding the delay
Compliance Commitment
The Board reiterated the Company's commitment to:
- Strengthening compliance monitoring mechanisms
- Ensuring timely compliance with all applicable provisions of SEBI LODR Regulations, 2015
- Taking necessary measures to ensure timely completion of financial closing activities
- Strict adherence to prescribed regulatory timelines going forward
Financial Impact
The fine amount of ₹35,400 has been paid by the Company.