Ircon International Limited has informed the Exchange regarding 'Board Comments on fine levied by the Exchanges for the quarter ended 31st March,2025'.

SEBI penaltyRegulatory & Legal View source PDF Explain this filing

IRCON · price

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Price reactionminutes from the announcement price · days from the prior close

-1.8%Reaction day

₹171.50

prior close

₹164.96

announcement price

After-mkt

timing

Nifty Smallcap 250market · index membership as recorded later (tracked since Jun 2026)-0.1%-1.7% vs market

Civil Construction peers, median of 87sector-0.5%-1.3% vs sector

On the reaction day the stock moved 1.7 pts less than Nifty Smallcap 250 and 1.3 pts less than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+1.3

10m

+1.1

15m

+0.7

30m

+1.6

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.8-0.1-1.7-0.5-1.3

Next day

-4.1-1.4-2.7-0.8-3.3

-1.7-0.9-0.8-0.7-1.0

-2.4-0.9-1.5-0.6-1.8

-2.2-0.3-1.9-0.5-1.7

-3.6-0.7-3.0-1.5-2.2

+0.9+1.4-0.5+0.2+0.6

15d

-2.6-0.2-2.4-1.9-0.6

+0.3+1.0-0.7-0.3+0.6

+7.5+1.7+5.9-2.3+9.9

-4.4+1.5-5.9-4.1-0.3

UpDownMarket · Nifty Smallcap 250Sector · Civil Construction peers, median of 87Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

NSE and BSE imposed a fine on Ircon International for not meeting SEBI Listing Regulations (Regulations 17(1), 18(1), 19, 20, 21(2)) on the composition of its Board and key committees for the quarter ended 31st March 2025. The Board, at its meeting on 6th August 2025, noted the non-compliance and explained that Ircon is a government company where all directors, including independent directors, are appointed by the President of India through the Ministry of Railways. The company said it has already requested the Ministry of Railways to appoint the required number of independent directors to fix the gap.

Likely market impact

The fine is a procedural penalty and not material to operations or finances. Shareholders should note the underlying issue is a shortage of independent directors, which the company attributes to delays by the government and says it is actively pursuing. No direct impact on stock price is expected, though governance compliance remains a watchpoint.