Annual Secretarial Compliance Report for the Financial year ended 31 03 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
India Steel Works Limited (BSE: 513361) filed its Annual Secretarial Compliance Report for the financial year ended 31 March 2025, revealing multiple instances of late filings with BSE during the year. Key non-compliances include delayed shareholding pattern submissions for Q4 FY24, Q1 FY25, Q2 FY25, and Q3 FY25, attracting penalties of Rs 4,720, Rs 1,18,000, Rs 18,860, and Rs 1,32,160 respectively. The company also delayed its annual audited standalone financial results for FY23-24 (filed 7 June 2024 vs. due 30 May 2024), incurring a Rs 47,200 fine, and was late with three quarterly Reconciliation of Share Capital Audit Reports in FY25. Promoters' demat accounts were frozen due to non-compliance but were defreezed after penalty payments were made. The report also lists numerous prior-period non-compliances (FY23 and FY24) on which BSE has already taken action, including fines and freezing of promoter shares.
Repeated late filings and multiple BSE penalties raise corporate governance red flags for shareholders, though financial impact of the fines is small. Investors should note ongoing compliance weaknesses and the historical freezing of promoter holdings as a governance concern.