The Provisions with regard to Regulation 24A of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 are not applicable to the company.
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Awaiting price reaction for this filing.
Integrated Thermoplastics Ltd has informed BSE that Regulation 24A of SEBI LODR Regulations is not applicable to the company for FY ending March 31, 2025. This exemption is because the company's paid-up equity share capital (Rs. 6.29 crores) and net worth have remained below the prescribed thresholds of Rs. 10 crores and Rs. 25 crores respectively for three consecutive financial years. Consequently, the company is not required to undertake a Secretarial Audit or submit a Secretarial Compliance Report. However, the disclosed numbers raise a serious red flag: the company's net worth is deeply negative across all three years — Rs. (52.60) crores in FY24, Rs. (42.57) crores in FY23, and Rs. (32.60) crores in FY22 — meaning liabilities far exceed assets and the situation is worsening year-on-year.
This is primarily a procedural compliance filing with no direct effect on share price, but it discloses severe financial weakness: a negative and deteriorating net worth signals potential going-concern issues and elevated credit/distress risk for shareholders.