This is to inform you that Annual Secretarial Compliance Report under Regulation 24A of SEBI(Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2018 read with BSE ....
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Awaiting price reaction for this filing.
Shah Construction Company has told BSE that it does not need to file the Annual Secretarial Compliance Report for the financial year ended 31 March 2025. The company is claiming exemption under Regulation 15(2) of SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, which applies to listed companies whose paid-up equity capital is not more than Rs. 10 crore and whose net worth is not more than Rs. 25 crore as on the last day of the previous financial year. Based on the audited financial statements as on 31 March 2024, the company's paid-up equity capital is Rs. 1.61 crore and its net worth is deeply negative at approximately Rs. (97.79) crore. Because both criteria are met, the company is exempt from this compliance requirement.
This is a routine regulatory disclosure and is unlikely to move the stock price on its own. However, the disclosure does highlight a severely negative net worth of about Rs. 97.8 crore, which is a red flag for shareholders and warrants closer scrutiny of the company's financial position.