Anand Projects Limited Clarifies Non-Applicability of SEBI Large Corporate Framework

Anand Projects Limited has issued a formal disclosure to the Bombay Stock Exchange clarifying its status regarding SEBI's Large Corporate framework. The company has confirmed that it does not fall under the Large Corporate (LC) category as defined by regulatory guidelines.

Regulatory Compliance Disclosure

The disclosure pertains to SEBI circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018, which addresses "Fund Raising by Issuance of Debt Securities by Large Entities." This circular establishes specific compliance requirements and disclosure obligations for companies classified as Large Corporates when raising funds through debt securities.

Parameter	Details
SEBI Circular Reference	SEBI/HO/DDHS/CIR/P/2018/144
Circular Date	November 26, 2018
Subject Matter	Fund Raising by Debt Securities - Large Entities
Company Status	Does not fall under LC category

Company Communication

The communication was addressed to DCS-CRD at the Bombay Stock Exchange and signed by Pranjali Gupta, Company Secretary & Compliance Officer. The disclosure serves to inform the exchange and stakeholders about the company's regulatory status regarding the specific SEBI framework.

SEBI Large Corporate Framework

The SEBI circular in question establishes guidelines for large entities seeking to raise funds through debt securities issuance. Companies falling under the Large Corporate category are subject to enhanced disclosure requirements and specific compliance obligations. By clarifying its non-LC status, Anand Projects Limited has indicated that these particular regulatory requirements do not apply to the company.

The formal communication ensures transparency regarding the company's regulatory compliance status and provides clarity to investors and regulatory authorities about applicable frameworks.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-100.00%	0.0%	0.0%	0.0%	0.0%	-100.00%

Anand Projects Limited has submitted its unaudited standalone and consolidated financial results for the third quarter ended December 31, 2025, showing mixed performance with quarterly losses but improved nine-month results. The company, engaged in Engineering, Procurement and Construction activities, reported these results in compliance with Regulation 33 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Quarterly Financial Performance

The company's Q3FY26 performance reflected operational challenges with a net loss widening compared to the previous year. Key financial metrics for the quarter demonstrate the impact of increased expenses on overall profitability.

Metric:	Q3FY26	Q3FY25	Change
Revenue from Operations:	₹30.00 lakh	₹30.00 lakh	No change
Other Income:	₹2.42 lakh	₹10.82 lakh	-77.6%
Total Income:	₹32.42 lakh	₹40.82 lakh	-20.6%
Net Loss:	₹57.70 lakh	₹55.14 lakh	-4.6%
Basic EPS:	₹(6.18)	₹(5.90)	-4.7%

Nine-Month Performance Shows Recovery

Despite quarterly challenges, the nine-month performance demonstrated significant improvement compared to the corresponding period in the previous financial year. The company achieved profitability on a cumulative basis, marking a substantial turnaround from the previous year's losses.

Parameter:	Nine Months FY26	Nine Months FY25	Improvement
Total Income:	₹521.27 lakh	₹285.68 lakh	+82.5%
Net Profit/(Loss):	₹247.56 lakh	₹(846.81) lakh	Positive turnaround
Basic EPS:	₹26.50	₹(90.64)	Significant improvement

Expense Analysis and Cost Structure

The quarterly results revealed increased expense pressures, particularly in employee benefits and other expenses categories. Employee benefits expense rose to ₹14.58 lakh in Q3FY26 from ₹12.78 lakh in Q3FY25. Other expenses increased significantly to ₹57.65 lakh compared to ₹14.71 lakh in the corresponding quarter of the previous year.

Finance costs were eliminated in the current quarter, showing no finance cost compared to ₹15.64 lakh in Q3FY25. Depreciation and amortisation expenses decreased marginally to ₹0.10 lakh from ₹0.16 lakh.

Corporate Governance and Compliance

The financial results were reviewed by the Audit Committee and approved by the Board of Directors in their respective meetings held on February 12, 2026. The Board Meeting commenced at 12:00 Noon and concluded at 12:35 PM, complying with SEBI Circular requirements.

Chopra Vimal & Co., Chartered Accountants, conducted the limited review of both standalone and consolidated financial results. The auditors confirmed that nothing came to their attention suggesting material misstatements in the financial results prepared in accordance with applicable accounting standards.

Business Operations and Segment Information

Anand Projects Limited operates exclusively in the Engineering, Procurement and Construction segment. The company noted that its activities are project-specific, making quarterly and nine-month results not necessarily indicative of annual performance. The consolidated results include the company's 49.50% holding in associate company Ojas Industries Private Limited, though the associate's contribution to current quarter profit was nil.

The company maintains its registered office at House No. 304, Ajad Pura Lalitpur, Uttar Pradesh, with operational presence in Noida. The paid-up share capital remained stable at ₹93.43 lakh with face value of ₹10 each share throughout the reporting periods.