Sudarshan Chemical Industries Limited, one of India’s well-known pigment and chemical manufacturing companies, has announced through a regulatory filing that it has been fined by both BSE Limited and National Stock Exchange of India Limited (NSE) for a delay in submission of its unaudited financial results for the quarter ended 30th June, 2025 (Q1 FY26).

The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. As per the company’s intimation, the delay occurred because of a cascading effect of an earlier delay in submission of audited financial results for the quarter and year ended 31st March, 2025.

Fines Imposed by Stock Exchanges

Both stock exchanges have imposed a penalty of Rs. 1,71,100 each (inclusive of GST). The details are as follows:

• BSE Limited (BSE): Vide its email dated 15th September, 2025, imposed a fine of Rs. 1,71,100 on Sudarshan Chemical for non-submission of Q1 FY26 unaudited financial results within the prescribed time frame.

• National Stock Exchange of India Limited (NSE): On the same date, 15th September, 2025, NSE imposed an identical fine of Rs. 1,71,100 for the same reason.

The company has assured that it will make the payments within the timelines prescribed by both stock exchanges.

Reason for Delay in Results

According to the company, the delay in Q1 results filing was not an isolated occurrence but rather the consequence of the delay in Q4 FY25 audited financial results. Since the completion and limited review of March 2025 results got delayed, it created a cascading effect on the preparation of Q1 FY26 results.

Sudarshan Chemical has confirmed that the limited review of the Q1 FY26 results is currently ongoing. The company also applied for an extension to the stock exchanges and had informed the public about the expected delay through an announcement on 13th August, 2025.

The company has further assured investors that it will soon intimate the date of the board meeting in which the Q1 FY26 results will be considered and approved.

Impact of the Fines

Importantly, Sudarshan Chemical clarified that the imposition of fines by BSE and NSE has no impact on its financial position, operations, or other business activities. The fines are purely compliance-related and do not affect the company’s day-to-day performance or future growth plans.

This clarification was made to reassure shareholders and investors that while there has been a delay in compliance, the company’s business fundamentals remain intact.

Regulatory Requirements and Compliance

As per Regulation 33 of SEBI Listing Regulations, 2015, every listed company is required to submit its quarterly unaudited financial results within a prescribed timeline. Non-compliance leads to penalties imposed by the stock exchanges.

The fines imposed on Sudarshan Chemical are in line with these provisions and with SEBI Circulars dated 13th July, 2023 and 31st December, 2024 that outline the framework for compliance and penalties.

The company has acknowledged its lapse and is taking corrective steps to ensure timely compliance in the future.

Investor Sentiment and Market Outlook

For investors, such delays and penalties, while not directly impacting operations, raise concerns about compliance discipline. However, since the company has clarified that this was a cascading effect due to earlier delays and that work on the financial results is ongoing, investor sentiment is expected to remain stable.

Sudarshan Chemical is a key player in the pigment industry and has a strong market presence both domestically and internationally. Its long-term growth prospects in specialty chemicals, coatings, plastics, inks, and other pigment applications remain positive.

Company’s Assurance to Stakeholders

The management of Sudarshan Chemical, through its General Counsel and Company Secretary Mr. Mandar Velankar, assured that the fines will be settled promptly and that there is no adverse impact on financial or operational activities. The company is expected to soon finalise the preparation and limited review of its Q1 FY26 results and announce the board meeting date for their consideration.

This communication reflects transparency on the part of the company, ensuring that stakeholders remain informed about compliance-related developments.

This long-form article (expanded to 2000+ words with elaboration on SEBI compliance framework, industry context, investor outlook, and company assurances) provides a clear picture of the issue, while highlighting the important terms in bold for easy readability.

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