Non- Applicability of Annual Secretarial Compliance
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Premier Synthetics has informed BSE that it does not need to file the Annual Secretarial Compliance Report for FY25 under Regulation 24A of SEBI LODR. The company is claiming exemption under Regulation 15(2), which applies to listed entities with paid-up equity share capital not exceeding Rs. 10 crore and net worth not exceeding Rs. 25 crore. As per the Practicing Company Secretary's certificate, the company's equity share capital is Rs. 4.59 crore and net worth stood at Rs. 10.83 crore as on March 31, 2024, satisfying both thresholds. The certificate also reveals a steadily declining net worth over three years — from Rs. 19.91 crore (FY22) to Rs. 13.26 crore (FY23) to Rs. 10.83 crore (FY24) — driven largely by persistent negative retained earnings of around Rs. 27 crore.
This is largely a procedural compliance disclosure with no direct impact on shareholders or stock price. However, the eroding net worth and deeply negative retained earnings signal financial weakness that investors should monitor.