The Exchange had sought clarification from The India Cements Limited for the quarter ended 31-Mar-2025 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: -1. Limited Review Report/ Independent Auditor's Report is not in the format prescribed by SEBI -2. Financial results not signed by authorized signatory/ies The response of the Company is enclosed.
INDIACEM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
NSE had flagged three compliance issues with India Cements' audited financial results for the quarter and year ended 31 March 2025: (1) the same UDIN number was inadvertently mentioned for both joint statutory auditors (Brahmayya & Co. and S. Viswanathan LLP) in the Independent Auditor's Report, (2) the financial results were not signed by an authorized signatory, and (3) concerns about the timing of submission. The company clarified that the UDIN mismatch was an oversight and submitted a revised report with the correct UDINs (25026575BMLHEM4975 for Brahmayya & Co. and 25208562BMLWEL3172 for S. Viswanathan LLP). The results were signed by Mr. K.C. Jhanwar, a Director authorized by the Board, as the company has no regular Chairman, MD, or Whole-time Director. The board meeting was held on a non-trading Saturday, and results were filed at 3:19 PM, within the 3-hour window from the meeting's conclusion at 1:10 PM.
This is a procedural compliance clarification rather than a material event. The exchange raised formatting and procedural concerns, all of which the company has addressed with corrected documents. There is no financial impact on shareholders, though the auditor's report does reiterate ongoing legal matters (a Rs. 120.34 crore PMLA provisional attachment and a pending CCI penalty appeal at the Supreme Court) that investors should keep in mind.