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Awaiting price reaction for this filing.
HCP Plastene Bulkpack Ltd has submitted its annual Secretarial Compliance Report for FY2024-25, reviewed by SCS and Co. LLP, as required under SEBI LODR Regulation 24A. The report flags several compliance lapses during the year, including delayed submission of related party transaction disclosures (Reg 23(9)) for the half-year ended September 30, 2024, and late filing of Board Meeting outcomes held on November 14, 2024 and February 14, 2025. The BSE had also sought clarification on July 26, 2024 over a significant movement in the stock price. The company has one material subsidiary, K.P. Woven Private Limited. While the company is broadly compliant on key areas like insider trading, policies, website disclosures, and director eligibility, a prior-year fine of about Rs 4.43 lakh (including GST) for delay in meeting the Minimum Public Shareholding (MPS) requirement remains unpaid, with a waiver application filed but no response from the exchange yet.
The multiple filing delays and unresolved penalty raise corporate governance red flags for retail investors, though management has assured improved compliance going forward. The unpaid MPS-related fine and unclear waiver status are minor overhangs but unlikely to materially affect the stock price on their own.