Equity Analysis

Company Profile

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Sheetal Universal Ltd

Industry : Food - Processing - Indian

BSE Code

ISIN Demat

Book Value()

91905

INE04VX01019

30.1299773

NSE Symbol

P/E(TTM)

Mar.Cap( Cr.)

SHEETAL

40.08

82.66

EPS(TTM)

Face Value()

Div & Yield %:

1.8

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Balmer Lawrie & Company Ltd

Balmer Lawrie & Company Ltd - Balmer Lawrie & Company Limited - Updates

Nov 25,2024

Balmer Lawrie & Company Limitedmposed on the Company: i. Name of the authority: BSE Limited and National Stock Exchange of India Limited ii. Nature and details of the action(s) taken, initiated or order(s) passed: Fines of Rs.5,42,800/- and Rs.5,42,800/-, respectively imposed on the Company vide e-mails dated 21st November, 2024 for non-compliance of Regulation 17(1) of the Listing Regulations for the quarter ended on 30th September, 2024. iii. Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority: 21st November, 2024. iv. Details of the violation(s)/contravention(s) committed or alleged to be committed: The composition of the Board of Directors was not as per Regulation 17(1) of Listing Regulations owing to insufficient number of Independent Directors/Non-Executive Directors. v. Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: No immediate impact is expected except to the extent of the total amount of fine imposed i.e. Rs.10,85,600/- (inclusive of GST). It would also be pertinent to mention that the Company is a Central Public Sector Enterprise under the administrative control of the Ministry of Petroleum & Natural Gas ( Administrative Ministry ) & the Article 7A of the Articles of Association of the Company states that so long as the Company remains a Government Company, the President of India shall, subject to provisions of the Companies Act, 2013, be entitled to appoint one or more Directors on the Board of the Company. Hence, the composition of the Board of Directors is dependent on direction by the Administrative Ministry and thus, the aforementioned non-compliances are for factors beyond the control of the Company and accordingly, the Company has made representation with BSE Limited and National Stock Exchange of India for waiver of such fines.