The Exchange had sought clarification from Delta Corp Limited for the quarter ended 31-Mar-2025 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: -1. Financial results submitted is not as per format prescribed under Schedule III of the Companies Act, 2013 or as per Indian Accounting Standard The response of the Company is enclosed.
DELTACORP · price
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NSE asked Delta Corp to explain why its Q4 FY25 financial results did not follow the format prescribed under Schedule III of the Companies Act and Indian Accounting Standards. Two specific points were raised: the format issue and the fact that financials of one subsidiary and one joint venture were not audited. The company responded that Delta Offshore Developers Limited, a non-material subsidiary, was voluntarily liquidated and dissolved in May 2024 after receiving a nominal residual amount. Harborpeak Real Estate Private Limited, a JV incorporated in FY25, did not undertake any material business during the period. Since both entities together hold less than 1% of consolidated net worth, the company relied on management-provided numbers based on the materiality principle for consolidation.
This is a routine compliance clarification involving two immaterial entities and is unlikely to have any meaningful impact on shareholders or the stock price. Investors should note, however, that the exchange did flag a format-related observation, which may invite closer scrutiny on future filings.