BF Utilities paid fines of ₹1,71,100 each to the National Stock Exchange of India (NSE) and BSE Limited for non-compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The penalties were levied due to a delay in submitting the consolidated financial results for the quarter and year ended March 31, 2026. The company remitted the total amount of ₹3,42,200 on July 01, 2026, subject to tax deducted at source (TDS).

The non-compliance arose because three subsidiaries—Nandi Infrastructure Corridor Enterprise Ltd (NICE), Nandi Economic Corridor Enterprises Ltd (NECE), and Nandi Highway Developers Limited (NHDL)—had not submitted their audited financial results to the company. BF Utilities had previously intimated the stock exchanges regarding the reason for this delay via a letter dated May 28, 2026.

The exchanges issued the communication regarding the fine on June 30, 2026. The due date for the payment was July 15, 2026, though the company settled the amount ahead of schedule. The regulation mandates timely disclosure of financial results to ensure transparency for investors.

BF Utilities clarified that there is no material impact on its financials, operations, or other activities as a result of this incident. The payment details were disclosed to the exchanges upon completion of the transaction.

Details of Regulatory Action

BF Utilities has filed its audited standalone financial results for the quarter and year ended March 31, 2026, but the publication of its audited consolidated results remains pending. The company disclosed that three subsidiaries—Nandi Infrastructure Corridor Enterprise Ltd. (NICE), Nandi Economic Corridor Enterprises Ltd. (NECE), and Nandi Highway Developers Ltd. (NHDL)—have not yet submitted their audited financial statements for the year ended March 31, 2026. Consequently, the company cannot finalize the consolidated financial results for the quarter and year ended March 31, 2026, until these documents are made available.

The company submitted the audited standalone financial results along with the Auditors' Report to the exchanges on May 28, 2026. In its communication, bf utilities clarified that the delay is solely due to the pending statements from the specified subsidiaries. The consolidated figures, which incorporate the financial data of NICE, NECE, and NHDL, will be published immediately upon receipt of the requisite audited financial statements from these entities.

Subsidiaries Pending Results

The following subsidiaries have not yet submitted their audited financial statements for the year ended March 31, 2026:

The filing was signed by Pragati S. Rai, Company Secretary, on May 28, 2026. The company assured the exchanges that the consolidated results would be released promptly once the subsidiary data is received.