Non Applicability certificate from Practicing Company Secretary for Regulation 24(A)of SEBI LODR for March''2025
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Awaiting price reaction for this filing.
Thakral Services India has submitted a certificate from a practicing company secretary stating it is not required to file the Annual Secretarial Compliance Report for FY 2024-25. Under SEBI's Regulation 15(2), companies with paid-up equity capital up to Rs. 10 crore and net worth up to Rs. 25 crore are exempt. The company's paid-up capital is Rs. 3.52 crore, qualifying it for this exemption. However, the disclosed financials also reveal the company has a deeply negative net worth of Rs. -9.16 crore in FY 2024-25, worsening from Rs. -5.32 crore in FY 2022-23 and Rs. -8.90 crore in FY 2023-24, indicating liabilities far exceeding assets. This is a routine regulatory filing, not a business update, but the underlying financials raise concerns about the company's financial health.
This filing itself is a routine compliance exemption and should not directly move the stock. However, the negative and deteriorating net worth over three consecutive years is a significant red flag for existing shareholders, suggesting the company may be in financial distress or accumulating losses.