The Exchange had sought clarification from Indo-National Limited for the quarter ended 31-Mar-2024 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: The response of the Company is enclosed.
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NSE had sought clarification from Indo-National Limited for the quarter ended March 31, 2024, citing two deficiencies: missing declaration of unmodified auditor opinion and missing machine-readable financial results. The company clarified that auditors G. Balu Associates LLP issued an unmodified opinion, but the company had inadvertently missed filing the declaration under Regulation 33(3)(d). The company subsequently submitted both documents. Key financials show standalone revenue of Rs 10,360 lakhs for Q4 and Rs 46,608 lakhs for FY24, with standalone net profit of Rs 670 lakhs for FY24. Consolidated revenue was Rs 16,893 lakhs for Q4 and Rs 64,060 lakhs for FY24, with consolidated net profit of Rs 1,464 lakhs. The board recommended a dividend of Rs 5 per share (100%). A pending Rs 4,226 lakh CCI penalty remains under NCLAT stay.
The filing is a compliance clarification addressing procedural gaps in quarterly results submission. The financials show improved profitability year-on-year on a consolidated basis. No material concern for shareholders, though investors should note the pending CCI penalty and proposed divestment of Kineco subsidiary.