MphasiS Limited has informed the Exchange regarding 'Board comments on fine levied by the Exchange'.
MPHASIS · price
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BSE and NSE have imposed a fine of Rs. 1,23,900 (including 18% GST) on MphasiS for alleged non-compliance with Regulation 17(1) of SEBI Listing Regulations for the quarter ended December 31, 2025. The non-compliance relates to the composition of the Board, specifically the failure to appoint a woman director. The fine was calculated at Rs. 5,000 per day for 21 days. The Board, at its meeting on March 27, 2026, explained that there was a brief transition period from December 11, 2025 to January 6, 2026 with no Board meetings held, and a regular Non-Executive Chairperson was appointed on January 7, 2026. The Board maintained that governance operations were not impaired during this period. The company has already submitted a waiver application to both exchanges on March 13, 2026, and is awaiting the outcome.
The fine amount is negligible for a company of MphasiS's size, so direct financial impact is minimal. However, if this becomes a second consecutive quarter of non-compliance under Regulation 17(1), the stock could be shifted to the Z category (trade-for-trade basis), which would hurt liquidity and likely weigh on the stock price. Investors should watch for the waiver decision from the exchanges.