Annual Secretarial Compliance Report for the year ended 31.03.2026.
NATIONALUM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
NALCO's secretarial compliance report for FY 2025-26 reveals multiple governance violations primarily due to insufficient Independent Directors on the Board. The company failed to maintain the required 50% non-executive directors composition during three periods (April, June 2025, and January-March 2026). Consequently, the Audit Committee, Nomination & Remuneration Committee, and Stakeholders Relationship Committee were also not properly constituted for various periods since November 2024. NSE and BSE imposed cumulative fines exceeding Rs. 18.36 lakh plus GST across multiple quarters. NALCO, being a Government of India enterprise, states that appointment of Independent Directors rests solely with the Centre, making compliance beyond its direct control. The company has requested fine waivers from both exchanges.
Persistent board composition issues signal weak corporate governance, though the company attributes this to government delays in appointing directors. Shareholders should monitor for resolution, as continued non-compliance could attract further regulatory action and reputational risk.