MTAR Technologies has announced that it does not fall under the category of a Large Corporate (LC) as per the criteria set by the Securities and Exchange Board of India (SEBI) in its circular dated 19 October 2023. The company submitted its annual disclosure for the financial year 2025-26, confirming its non-classification as a Large Corporate.
According to the filing, MTAR Technologies reported no mandatory borrowing through debt securities for the fiscal year 2025-26. The company outlined that the mandatory borrowing requirement, which is 25% of the previous year’s borrowing, was not applicable to them. Consequently, the actual borrowing through debt securities stood at nil for the year.
The disclosure further detailed that there was no shortfall in mandatory borrowing through debt securities for the fiscal year 2025-26. This was after adjusting for any shortfall in borrowing for the fiscal year 2024-25, which could have been carried forward to the fiscal year 2025-26. As a result, no penalties were applicable for any shortfall in the borrowing requirements.
MTAR Technologies reiterated its non-classification as a Large Corporate, aligning with the SEBI circular’s applicability criteria. The confirmation was signed by Priyanka Agarwal, the Company Secretary and Compliance Officer of MTAR Technologies.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).