Submission of annual secretarial compliance report for the year ended 31.03.2025
Awaiting price reaction for this filing.
MPS Pharmaa Limited (formerly Advik Laboratories Ltd) filed its Annual Secretarial Compliance Report for FY 2024-25 with BSE, as required under SEBI LODR Regulation 24A. The Practicing Company Secretary flagged that the company has defaulted on Annual Listing Fees to BSE for four consecutive years (FY 2021-22, 2022-23, 2023-24, and 2024-25) due to paucity of funds, and BSE has suspended trading of the scrip, allowing only weekly Trade-for-Trade settlement. BSE has also placed the stock under the Graded Surveillance Measure (GSM), escalated to Stage IV. The report itself admits a sharp decline in operating activities due to lack of orders and says management is exploring new business opportunities and prospective buyer quotes to restart operations. All other SEBI compliance areas (policies, insider trading, related party transactions, website disclosures, etc.) were reported as compliant.
Negative for shareholders: the stock is suspended on BSE, under heavy GSM surveillance, the company has unpaid exchange dues going back four years, and operations are described as having declined sharply with the firm relying on prospective new deals to restart business — pointing to significant financial and operational stress.