Intimation for non-applicability of submission of secretarial compliance report for the financial year 2025-26 is attached.
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Cravatex Ltd has informed BSE that it is exempt from submitting the Secretarial Compliance Report for FY 2025-26. The exemption applies because the company's paid-up equity share capital and net-worth have remained below SEBI's specified thresholds (Rs 10 crore and Rs 25 crore respectively) for three consecutive financial years — 2022-23, 2023-24, and 2024-25. Under Regulation 15(2)(a) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Corporate Governance provisions — and by extension the Secretarial Compliance Report under Regulation 24A(2) — do not apply to the company. The company states it will ensure compliance if these provisions become applicable in the future.
This is a routine regulatory filing with no direct impact on the stock price. It confirms that Cravatex qualifies for an exemption due to its small size and low net-worth, reducing its compliance burden. Shareholders should note the company remains below the thresholds that trigger corporate governance requirements.