Non-applicability of Annual Secretarial Compliance Report as specified in SEBI (LODR) 2015, (SEBI Listing Regulation) for the Quarter ended 31st March, 2026.
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NRB Industrial Bearings Ltd has informed stock exchanges that it is exempt from submitting the Annual Secretarial Compliance Report under SEBI Listing Regulations. The exemption applies because the company's paid-up equity capital (Rs. 4.84 crore) is below Rs. 10 crore and its net worth (negative Rs. 19.65 crore) is below Rs. 25 crore as of March 31, 2025. A certificate from statutory auditors JHS & Associates LLP confirms these figures. The company has a negative net worth that has worsened significantly from negative Rs. 3.63 crore in March 2024 to negative Rs. 19.65 crore in March 2025, indicating substantial accumulated losses of Rs. 145.55 crore.
While the exemption from secretarial compliance is routine for small companies, the sharply negative net worth raises serious concerns about the company's financial health and going concern assumptions. Shareholders should monitor whether the company can sustain operations given the erosion of net worth.