Orbit Electricals Private Limited, a promoter entity, has filed a formal declaration with the stock exchanges confirming that no encumbrance was created on the equity shares of Finolex Industries Limited held by it during the financial year ended 31st March, 2026. The declaration, dated 3rd April 2026, was submitted to both the National Stock Exchange of India Limited and BSE Limited in compliance with applicable regulatory requirements.

Regulatory Compliance Under SEBI Takeover Regulations

The declaration was made pursuant to Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended. Under this provision, promoters and persons acting in concert are required to confirm, at the close of each financial year, whether any encumbrance has been created on the equity shares of the listed company held by them.

The key details of the filing are summarised below:

Declaration Details

In the declaration, Orbit Electricals Private Limited, along with persons acting in concert, confirmed that no encumbrance — whether direct or indirect — was created on the equity shares of Finolex Industries Limited held by them during the financial year ended 31st March, 2026. The declaration was signed by Meena D'Sa, the Authorised Signatory of Orbit Electricals Private Limited, and a copy was also marked to the Audit Committee of Finolex Industries Limited.

Orbit Electricals Private Limited is registered at Plot No. 5, Building B/7, Harmony Complex, ICS Colony, Off. Ganeshkhind Road, Pune-411 007, India, with CIN U74999MH1971PTC015021.

Finolex cables Limited has officially communicated to BSE Limited and National Stock Exchange of India that it does not qualify as a 'Large Corporate' under the Securities and Exchange Board of India (SEBI) operational circular framework as of March 31, 2026. The disclosure was made in compliance with SEBI Operational Circular No. SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021, which was updated on April 13, 2022.

Regulatory Compliance Status

The company confirmed through its filing dated April 15, 2026, that it does not meet the applicability criteria for classification as a 'Large Corporate' under the SEBI framework. This classification exempts Finolex Cables from specific regulatory requirements mandated for larger entities, including the obligation to file annual disclosures for incremental borrowings for the financial year ended March 31, 2026.

Financial Position and Credit Ratings

According to the company's disclosure in Annexure XII-A, Finolex Cables maintains a strong financial position with specific borrowing details:

The company's zero outstanding long-term borrowings as of March 31, 2026, reflects its debt-free status while maintaining high credit ratings from CRISIL, indicating strong creditworthiness and financial stability.

Regulatory Framework Implications

The SEBI operational circular establishes specific criteria for identifying 'Large Corporates' and mandates enhanced disclosure requirements for such entities. Companies that do not meet these criteria are exempt from the additional regulatory framework, including requirements for incremental borrowing disclosures and other compliance obligations specific to large entities.

Corporate Governance and Disclosure

The disclosure was signed by key company officials including Siddhesh Mandke, Company Secretary and General Manager (Legal), and Mahesh Viswanathan, Chief Financial Officer. This formal communication ensures transparency with stakeholders and regulatory compliance, demonstrating the company's commitment to proper corporate governance practices and timely regulatory disclosures.