Annual Secretarial Compliance Report for the year ended on 31st March, 2025
Awaiting price reaction for this filing.
Future Consumer Limited has filed its Annual Secretarial Compliance Report for FY 2024-25, prepared by Practicing Company Secretary Sanjay Dholakia. The report flagged four non-compliances: (1) the company did not consolidate financials of two joint ventures (Aussee Oats Milling Pvt Ltd and Aussee Oats India Ltd) for FY24 due to an ongoing dispute with JV partners that is sub-judice; (2) delayed filing of shareholding pattern for June and September 2024 quarters, attracting a total fine of Rs 37,760 from BSE and NSE, which has been paid; (3) non-payment of annual listing fees for FY 2024-25, with the company noting its bankers have not released funds; and (4) non-compliance with Directors and Officers Insurance requirement for independent directors due to cash flow constraints. Actions by stock exchanges/SEBI against promoters or promoter group members were also noted.
The report highlights serious cash flow and governance stress at Future Consumer — the company cannot pay listing fees or director insurance, depends on bankers for statutory payments, and has unresolved JV disputes affecting financial consolidation. These red flags could weigh on investor confidence and signal deeper financial distress, though some fines are minor and the JV dispute is being disclosed transparently.