NRB Industrial Bearings Limited has informed regarding Submission of the Compliance Report on Corporate Governance for the Quarter ended 31st december, 2025.
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NRB Industrial Bearings has told the stock exchanges that it does not need to file the quarterly Corporate Governance Report for the quarter ended 31 December 2025. It is claiming exemption under Regulation 15 of SEBI's Listing Rules, which excuses companies whose paid-up equity capital is under Rs. 10 Crore and net worth is under Rs. 25 Crore for three straight financial years. The company's paid-up share capital is Rs. 4.85 Crore, and its net worth as of 31 March 2025 was negative Rs. 19.65 Crore, certified by chartered accountants JHS & Associates LLP. The net worth has worsened sharply over three years, from negative Rs. 1.35 Crore in FY23 to negative Rs. 3.63 Crore in FY24 to negative Rs. 19.65 Crore in FY25, driven by accumulated losses of around Rs. 145.55 Crore. Despite the headline mentioning submission of a compliance report, the letter's substance is that no such report is required to be filed.
Shareholders should note the company is in a financially weak position with negative net worth and large accumulated losses, and is taking advantage of a small-cap exemption to skip detailed quarterly governance disclosures. This may concern investors who rely on corporate governance reporting for transparency.