SAL Steel Ltd. Response to NSE Query on Financial Results Submission
NSE Symbol: SALSTEEL
Date and Nature of Exchange Query
SAL Steel Limited received an email from the National Stock Exchange of India Limited (NSE) on July 1, 2025, regarding their submitted financial results for the year ended March 31, 2025. The query specifically addressed three issues:
1. The financial results were not submitted in the format prescribed by SEBI
2. The Statement of Impact was not in the prescribed format
3. The Chairman had signed the document instead of the MD/CEO
Company's Clarification on Signatory Issues
In response to the NSE query, SAL Steel provided the following clarifications:
- The company does not have any Chief Executive Officer (CEO) or Managing Director appointed on its Board of Directors
- Due to the absence of a CEO/Managing Director, the Chairman (who is related to the Promoter) signed the Statement of Impact of Audit Qualification for the financial results submitted for the year ended March 31, 2025
- Mr. Babulal M. Singhal, who signed as Chief Financial Officer (CFO), is also a Whole Time Director of the company
Regulatory Compliance Reference
The communication references compliance with SEBI regulations regarding the submission of financial results, specifically addressing the proper signatory requirements for regulatory filings.
Request for Guidance
The company has requested guidance from the exchanges on whether a revised submission of the Statement of Impact of Audit Qualification is required for the financial results submitted for the year ended March 31, 2025, given the clarification about signatory changes.