Compliance Clarification Regarding SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR) read with SEBI Master Circular Ref: SEBI/HO/CFD/PoD2/CIR/P/2023/120 ....
Awaiting price reaction for this filing.
XL Energy has written to BSE and NSE explaining why it cannot file its audited financial results on time. The company has been going through insolvency resolution — NCLT Hyderabad approved its resolution plan in April 2024 and ordered its shares to be relisted in May 2025. Following this, the stock status moved from 'Delisted' to 'Suspended' from May 28, 2025. The company is currently restructuring its share capital, changing management, and is yet to appoint a Company Secretary and Chief Financial Officer. An appeal filed by NSE against the relisting order is pending at NCLAT, with the last hearing on September 18, 2025. Due to these overlapping legal and procedural issues, the company says it could not finalize its financial results within the SEBI-prescribed timeline and will submit them at the earliest.
Investors should note that the stock remains suspended from trading, financial results are overdue, and the company lacks key managerial personnel. Until the NCLAT matter is resolved and financials are filed, visibility on the company's true financial position remains limited, which keeps risk for shareholders elevated.