Prabhu Steel Industries Limited has informed its stock exchanges that the Statement of Deviation(s) or Variation(s) under Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is not applicable to the company for the quarter ended 31st March, 2026. The disclosure was made on 09th May, 2026, and addressed to both BSE Limited and The Calcutta Stock Exchange Association Limited.

Regulatory Disclosure Details

The company confirmed that there has been no deviation or variation in the use of proceeds raised through its Initial Public Offering (IPO). Pursuant to Regulation 32 of the SEBI LODR Regulations, 2015, listed entities are required to submit a statement of deviation or variation if IPO proceeds have been utilised differently from the stated objects. Since no such deviation exists, the statement is deemed not applicable for the quarter under review.

The key details of the disclosure are summarised below:

Signatory and Authorization

The disclosure was signed and submitted by Mr. Dinesh Agrawal, Managing Director of Prabhu Steel Industries Limited, with a digital signature dated 09th May, 2026. The communication was directed to the Department of Corporate Services at BSE Limited, Mumbai, and to the Secretary of The Calcutta Stock Exchange Association Limited, Kolkata.

Prabhu Steel Industries Limited is registered in Nagpur, Maharashtra, and was established in 1972. The company's registered office is located at Plot No. 158, Small Factory Area, Bagadganj, Nagpur – 440 008, Maharashtra.

Prabhu steel industries Limited has officially declared to stock exchanges that it is exempt from submitting the Annual Secretarial Compliance Report under SEBI Regulation 24A. The declaration was communicated to BSE Limited and The Calcutta Stock Exchange Association Limited on April 08, 2026.

Regulatory Background

The Securities and Exchange Board of India amended the Listing Obligations and Disclosure Requirements Regulation, 2015, introducing Regulation 24A which mandates secretarial audits for listed companies. Under this regulation, every listed company and its material unlisted subsidiaries incorporated in India must undertake secretarial audit and annex a secretarial audit report with their annual report, effective from the year ended March 31, 2019.

Exemption Criteria

Prabhu Steel Industries Limited qualifies for exemption under Regulation 15(2)(a) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This exemption applies to specific categories of listed entities that meet certain financial thresholds.

Company Communication

The declaration was signed by Mr. Dinesh Agrawal, Managing Director (DIN: 00291086), and submitted to both stock exchanges where the company's securities are listed. The communication referenced SEBI Circular dated February 08, 2019 (CIR/CFD/CMDI/27/2019) which provided guidance on the implementation of these requirements.

Regulatory Compliance Impact

The exemption under Regulation 15(2) extends beyond just the secretarial compliance report, covering multiple regulatory provisions including regulations 17 through 27 and specific clauses of regulation 46. This comprehensive exemption is designed to reduce compliance burden on smaller listed entities while maintaining essential regulatory oversight.

The company has requested both stock exchanges to take this declaration on record, ensuring proper documentation of its exempt status for the relevant financial year. This formal communication demonstrates the company's commitment to transparent regulatory compliance and proper disclosure to market participants.