Indobell Insulations Limited has formally notified BSE Limited about the non-applicability of Corporate Governance provisions under Regulation 27 of the Securities Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulation, 2015 for the financial year 2026-2027. The communication, dated April 10, 2026, was signed by Company Secretary Sanjay Agarwal.

SME Exchange Exemption Framework

The exemption is granted under Regulation 15(2) of SEBI (LODR) 2015, which provides relief to entities listed on SME Exchange from various corporate governance requirements. The regulation exempts such companies from compliance with regulations 17, 17A, 18, 19, 20, 21, 22, 23, 24, 24A, 25, 26, 26A, 27, and specific clauses of regulation 46, along with Para C, D and E of Schedule V.

Indobell Insulations confirmed its coverage under Clause "b" of Regulation 15(2) of SEBI (LODR), 2015, making it eligible for this exemption as a listed entity on the SME Exchange.

Financial Performance Overview

The company has submitted a certificate from its statutory auditors, Bandyopadhyay & Dutt Chartered Accountants, detailing the equity share capital and net worth for the last three financial years. The certificate, dated July 29, 2025, reveals substantial growth in the company's financial position.

Significant Capital Growth

The financial data demonstrates remarkable expansion in the company's capital structure over the three-year period. The paid-up equity share capital increased from Rs. 0.68 crores in FY 2022-23 to Rs. 6.30 crores in FY 2024-25, representing substantial capital infusion. Similarly, the net worth grew from Rs. 4.73 crores to Rs. 15.46 crores during the same period.

Company Operations

Indobell Insulations Limited operates from its registered office at 88C, Lake View Road, Kolkata, with corporate office at 20/1A, Lake View Road, Kolkata. The company maintains manufacturing facilities across two regions:

• Eastern Region: D-195, Trenching Ground Road, Kolkata
• Western Region: Plot No. 18, Gala No. 2 & 3, Dewan & Sons Industrial Estate, Vevoor, Palghar

The company trades on BSE under script code 544334 and continues to benefit from the regulatory framework designed to support SME-listed entities in their growth phase.

Indobell insulations Limited has formally notified BSE Limited regarding its classification status under SEBI regulations for large corporate entities. The company confirmed that it does not fall under the "Large Corporate" category as on March 31, 2026.

Regulatory Compliance Communication

The confirmation was submitted to BSE on April 10, 2026, by Company Secretary and Compliance Officer Sanjay Agarwal. The communication specifically addressed the company's status in relation to SEBI's fund raising regulations for debt securities issuance by large entities.

SEBI Circular References

The company's confirmation was made pursuant to three specific SEBI circulars that govern fund raising requirements for large corporate entities:

• SEBI Circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018
• SEBI Operational Circular SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021
• SEBI Circular No. SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023

Compliance Implications

As a result of not being classified as a "Large Corporate," Indobell Insulations Limited stated that the requirement of initial disclosure under Clause 3 of the aforementioned SEBI circulars is not applicable to the company. This classification affects the regulatory obligations related to debt securities issuance that the company must follow.

The company operates from its registered office in Kolkata and maintains manufacturing facilities in both Eastern and Western regions of India, including locations in Kolkata and Palghar.