Ircon International Limited has informed the Exchange about Action(s) taken or orders passed
IRCON · price
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NSE and BSE have each imposed a fine of Rs. 9,77,040 (including GST) on Ircon International Limited for non-compliance with SEBI LODR Regulations 17(1), 18(1) and 19(1)/19(2), which relate to the composition of the Board and its committees during the quarter ended 31st December 2025. The company has clarified that it is a government company under Section 2(45) of the Companies Act, 2013, and that all directors including independent directors are appointed solely by the Government of India through the Ministry of Railways, leaving IRCON with no role in the appointment process. IRCON has been persistently requesting the Ministry of Railways to appoint the required number of independent directors to restore compliance. The company has classified the fine as a contingent liability in its financial statements and noted that the fine has no impact on its financial, operational, or other activities.
This is a minor regulatory penalty with no material financial or operational impact on the company. Since the non-compliance is beyond IRCON's control (government appointment of directors) and similar fines have been waived in the past once compliance is achieved, the long-term impact on shareholders is expected to be negligible. The stock price is unlikely to be materially affected.