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Awaiting price reaction for this filing.
SpiceJet has filed its Annual Secretarial Compliance Report for FY25, which reveals multiple instances of non-compliance with SEBI listing regulations. The biggest issues were significant delays in submitting financial results to the stock exchange: annual results for FY24 were 46 days late, Q2 FY25 results were 103 days late, and Q3 FY25 results were 10 days late. BSE imposed fines totalling approximately Rs. 8.15 lakh plus GST for these delays. The company also held fewer board and audit committee meetings than required, had gaps exceeding 120 days between some meetings, failed to maintain a structured digital database of unpublished price-sensitive information, and did not keep certain share application monies in a separate bank account. The company attributes most non-compliances to the ongoing medical incapacitation of a key audit committee member. All previously identified non-compliances have either been remedied or fines have been paid.
The report highlights governance and compliance weaknesses that may concern investors, though the fines are relatively small and many issues have been attributed to medical reasons and are being addressed. Repeated delays in financial reporting are a negative signal on operational discipline.