Non-Applicability of Regulation 24A of SEBI LODR- Annual Secretarial Compliance Report
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Axel Polymers Ltd has informed BSE that the Annual Secretarial Compliance Report requirement under Regulation 24A of SEBI LODR does not apply to the company. The exemption is claimed because its paid-up equity capital of Rs. 8.52 crores and net worth of Rs. 14.99 crores as on March 31, 2024 are both below the thresholds of Rs. 10 crores and Rs. 25 crores respectively specified in Regulation 15(2)(a). The company also confirmed it has no material subsidiary, removing any related audit obligation. A Practising Company Secretary has certified this non-applicability based on the last three financial years' data (FY22 to FY24), during which the net worth steadily grew from Rs. 12.32 crores to Rs. 14.99 crores while paid-up capital stayed flat at Rs. 8.52 crores.
This is a routine procedural disclosure with no direct impact on shareholders or the stock price. It simply confirms the company qualifies for a compliance exemption as a small-cap listed entity, reducing its regulatory burden without changing its business or financial position.