Enclosed herewith the declaration regarding to non-applicability of Regulation 23(9) of SEBI (LODR) regulations, 2015 for your information.
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Awaiting price reaction for this filing.
Katare Spinning Mills has informed BSE that the disclosure requirement for related party transactions under Regulation 23(9) of SEBI (LODR) Regulations, 2015 does not apply to the company for the period ended March 31, 2025. The exemption is claimed under Regulation 15(2)(a), which covers listed companies with paid-up equity capital up to Rs. 10 crore and net worth up to Rs. 25 crore. As per audited financials, the company's paid-up capital is Rs. 2.85 crore and net worth is Rs. 4.39 crore (as on March 31, 2024), both well within the exemption thresholds. The filing is supported by a Chartered Accountant's certificate confirming these figures for the last three financial years. Notably, the company's net worth has declined from Rs. 6.26 crore in FY23 to Rs. 4.39 crore in FY24, mainly due to a drop in retained earnings.
This is a routine regulatory housekeeping filing with no direct impact on shareholders or the stock price. However, the declining net worth over consecutive years is a minor red flag worth monitoring, as it indicates reduced accumulated profits or possible losses in recent operations.