The Exchange had sought clarification from Tirupati Forge 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 The response of the Company is enclosed.

Tirupati Forge filed its audited financial results for the quarter and year ended March 31, 2025. NSE had asked for clarification because the first page of the Auditor's Report was inadvertently left out of the original PDF uploaded on May 13, 2025 — the company said this was a technical error during file merging and has now re-submitted the complete document. For FY25, Total Income rose to ₹11,629.64 lakhs (from ₹11,092.59 lakhs in FY24) and Net Profit grew 18% to ₹785.54 lakhs (from ₹664.22 lakhs). Q4 FY25 was weaker year-on-year — Total Income fell to ₹2,793.19 lakhs and Net Profit to ₹129.72 lakhs — hit by falling steel prices, auto-sector demand softness, and US tariff uncertainty, though EBITDA improved sequentially. Auditors gave an unmodified (clean) opinion. The Balance Sheet nearly doubled to ₹14,592.84 lakhs, boosted by a preferential issue of ₹8,435.20 lakhs (1.46 crore equity shares + 1.176 crore convertible warrants at ₹32 each), with no deviation in use of funds reported. The company announced a ₹670 million foray into defence manufacturing, commissioned a 4.8 MW solar plant (₹25 million annual savings), appointed Mr. Mallappa Beleri as Independent Director, and accepted the resignation of Mr. Anand Mohan Shrivastava. A ₹120 lakh provision was noted for an overdue fixed deposit stuck with Ashish Credit Co-operative Society since November 2020 due to a fraud case where the company has filed FIRs.