Annual Secretarial Compliance Report for the year ended on 31st March, 2025
Awaiting price reaction for this filing.
Future Consumer has filed its Annual Secretarial Compliance Report for FY25, which flags four ongoing non-compliances with SEBI listing rules. The company did not consolidate financials of two joint ventures — Aussee Oats Milling and Aussee Oats India — for the year ended March 31, 2024 due to a dispute with JV partners; the matter is sub-judice and the exposure stands at Rs. 91.65 crore (standalone) and Rs. 65.45 crore (consolidated). The company also delayed filing its shareholding pattern for the June and September 2024 quarters, for which BSE and NSE levied a total fine of Rs. 37,760, which has since been paid. It received notices from stock exchanges for non-payment of annual listing fees for FY25 and has not taken directors and officers insurance for its independent directors, both attributed to cash flow constraints. These are largely the same non-compliances carried forward from FY24, indicating recurring governance and liquidity issues.
This filing paints a negative picture for shareholders, pointing to persistent cash flow stress (inability to pay listing fees and director insurance) and unresolved disputes with joint venture partners that distort the consolidated financial picture. Repeated compliance lapses may weigh on the stock and raise concerns about corporate governance quality.