Annual Secretarial Compliance Report for the financial year ended March 31, 2026
ORIENTCEM · price
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Orient Cement Limited has filed its Annual Secretarial Compliance Report for FY 2025-26, reviewed by Practicing Company Secretaries Parikh Dave & Associates. The report identifies four deviations: (1) Mr. Sudhir Nanavati was appointed as Independent Director (aged 75+) on April 22, 2025 without prior shareholder approval, with approval obtained later on June 28, 2025 - BSE levied a fine of Rs 1,34,000 plus Rs 24,120 GST, paid on March 13, 2026; (2) The Secretarial Compliance Report submitted on May 30, 2025 was incomplete and a full report was submitted only on June 16, 2025 (beyond the 60-day deadline) - BSE levied Rs 30,000 fine but later waived it; (3) Three mandatory declarations/certificates under Regulation 34 were missing from the FY 2024-25 Annual Report's Corporate Governance section; (4) Due to a technical issue, the company could not submit required Structured Digital Database reports under Insider Trading Regulations for April-December 2025. The company states processes have been strengthened to ensure future compliance.
The non-compliances are relatively minor procedural issues, with fines already paid or waived. The company has taken corrective actions including obtaining shareholder approval retroactively and paying the fine. However, these findings suggest some gaps in compliance processes that investors should monitor. The stock is listed on BSE (Scrip: 535754) and NSE (Symbol: ORIENTCEM).