MPS Limited has informed the Exchange regarding 'Outcome of Board Meeting- Board comments on fine levied by the Exchange'.
MPSLTD · price
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Awaiting price reaction for this filing.
MPS Limited's Board met on 16 May 2025 and approved audited financial results for Q4 and FY ended 31 March 2025 with an unmodified auditor's opinion from Walker Chandiok & Co LLP. Standalone revenue from operations grew to INR 35,134 lakhs (from INR 32,757 lakhs in FY24), with profit for the year rising to INR 11,000 lakhs (from INR 10,644 lakhs) and basic EPS of INR 64.86. The Board recommended a final dividend of INR 50 per share for FY25, taking total dividends for the year to INR 83 per share (including the earlier interim dividend of INR 33). The Board also approved the merger of two US step-down subsidiaries (American Journal Experts LLC NC and Delaware) into MPS North America LLC to streamline operations, and appointed Sridharan & Sridharan Associates as Secretarial Auditors for five years. On the NSE/BSE fine related to NRC composition, the Board stated this was not a case of non-compliance but a brief gap caused by the end of Independent Directors' tenures, and noted that the relevant timeline rules only came into effect on 12 December 2024.
Strong financial performance with healthy double-digit profit growth and a generous total dividend of INR 83/share (yield meaningful at current price) should be viewed positively by shareholders. The Exchange fine for NRC composition appears minor in financial terms, and the Board is contesting it via a waiver application, so impact on the stock is likely limited. The 55th AGM is set for 29 August 2025 with a record date of 13 August 2025 for dividend eligibility.