Certificate of Non-applicability of Corporate Governance for the Quarter ended on June 30, 2025.
Awaiting price reaction for this filing.
IMP Powers Limited has filed a certificate confirming that the SEBI quarterly Corporate Governance reporting requirement (Regulation 27 of LODR Regulations) is not applicable to the company for Q1 FY26 (quarter ended June 30, 2025). The exemption is claimed because the company's paid-up equity share capital of Rs. 8.63 crore is below the Rs. 10 crore threshold and its net worth is below the Rs. 25 crore threshold under Regulation 15(2)(a). However, the disclosed numbers reveal a deeply negative net worth of Rs. (269.97) crore, Rs. (267.85) crore, and Rs. (247.68) crore as on March 31 of 2025, 2024, and 2023 respectively. The company's accumulated deficit in the profit & loss account has narrowed from Rs. 51.95 crore to Rs. 2.12 crore over the three years, but the overall balance sheet remains in deeply negative territory. The company has committed to comply with the regulations within six months if the exemption thresholds are breached in the future.
This is a procedural compliance filing rather than a business update, but the disclosed financial figures — particularly the deeply negative net worth — signal serious concerns about the company's financial health and significant erosion of shareholder equity. Investors should treat this as a red flag and seek further information on the company's underlying liabilities, restructuring plans, and path to recovery.