Lokesh Machines Limited has informed the Exchange regarding 'updates'.
LOKESHMACH · price
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Awaiting price reaction for this filing.
Lokesh Machines Limited was fined by BSE and NSE (₹2,41,900 each) for not meeting SEBI Listing Regulation 17(1) requirements on board composition for the quarter ending December 31, 2025. The company explained that the non-compliance was due to mandatory prior approval needed from the Ministry of Home Affairs (MHA) before any change in directorship, as the company manufactures small arms under the Arms Act, 1959. The Board reviewed the matter on March 6, 2026, and instructed management to file a waiver application with the stock exchanges. The waiver request is currently under process.
The fine is small (₹2.42 lakh per exchange) and unlikely to materially affect the stock. The company has cited a genuine regulatory constraint (MHA approval requirement) and proactively applied for a waiver, which limits any negative governance perception.