Date: September 12, 2026

Regulatory Action Disclosure

Fines Imposed

  • National Stock Exchange of India Limited (NSE) levied a fine of ₹1,29,800/- (including GST) on September 11, 2026
  • BSE Limited levied a fine of ₹1,29,800/- (including GST) on September 11, 2026
  • Basic fine amount: ₹1,10,000 per exchange plus GST of ₹19,800 per exchange
  • Total financial impact: ₹2,59,600 payable to both exchanges
  • Reason: Delay in submission of unaudited financial results (Standalone and Consolidated) for quarter ended June 30, 2026
  • Prescribed due date for submission: August 14, 2026
  • Actual submission date: September 07, 2026

Reason for Delay

  • Existing Statutory Auditor M/s. Manubhai & Shah LLP expressed unwillingness to seek re-appointment for FY 2026-27
  • Reasons cited: Existing professional commitments and logistical constraints arising from company's operational location
  • Appointment of new Statutory Auditor M/s. Talati & Talati LLP (ICAI Firm Registration No. 110758W/W100377) proposed
  • Appointment subject to member approval at 10th Annual General Meeting held on August 22, 2026
  • New auditors could only undertake limited review upon their appointment after AGM
  • Company had intimated stock exchanges about delay reasons on August 13, 2026

Current Status

  • Company has submitted unaudited financial results (Standalone and Consolidated) for quarter ended June 30, 2026 along with Limited Review Report on September 07, 2026
  • Company will remit fines within timelines prescribed by respective stock exchanges
  • Matter will be placed before Board of Directors at next meeting as required
  • Company taking measures to ensure timely compliance with SEBI Listing Regulations going forward

Impact Assessment

  • Financial impact limited to fine amount of ₹2,59,600
  • No material impact on operations or other activities of the company
  • Compliance completed with submission of delayed financial results

KMP / Board / Auditor Changes

  • Statutory Auditor change: M/s. Manubhai & Shah LLP (outgoing) to M/s. Talati & Talati LLP (incoming)
  • Effective date: Upon appointment at 10th AGM held on August 22, 2026
  • Reason for change: Outgoing auditor's unwillingness due to professional commitments and logistical constraints

Financial Results

  • Results submitted: Unaudited financial results (Standalone and Consolidated) for quarter ended June 30, 2026
  • Submission status: Filed with Limited Review Report on September 07, 2026
  • Results cover: Q1 FY2027 (quarter ended June 30, 2026)