SKF India Submits Annual Secretarial Compliance Report for Financial Year 2025-26
SKF India Limited submitted its Annual Secretarial Compliance Report for FY 2025-26 on 14th May 2026, as required under Regulation 24A of SEBI (LODR) Regulations, 2015. The report, issued by Secretarial Auditor M/s. J. B. Bhave & Co. on 13th May 2026, confirmed full compliance with all applicable SEBI regulations during the review period ended 31st March 2026, with no deviations, penalties, or regulatory actions recorded. A minor observation was noted regarding a few related party transactions that were subsequently ratified rather than receiving prior Audit Committee approval. No observations were carried forward from the previous year's secretarial compliance report.
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SKF India Limited has filed its Annual Secretarial Compliance Report for the financial year ended 31st March 2026 with the stock exchanges on 14th May 2026. The report has been submitted pursuant to Regulation 24A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with the relevant SEBI Master Circular and applicable stock exchange circulars. The compliance report was prepared and issued by the company's Secretarial Auditor, M/s. J. B. Bhave & Co., Company Secretaries, Pune, represented by Proprietor Jayavant B. Bhave (FCS: 4266, CP: 3068).
Scope of Examination
The Secretarial Auditor examined all documents, records, filings, and submissions made by SKF India to the stock exchanges, as well as the company's website and other relevant documents for the review period ended 31st March 2026. The examination covered compliance with the following key regulations:
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (to the extent applicable during the review period)
- SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
- SEBI (Prohibition of Insider Trading) Regulations, 2015
- SEBI (Depositories and Participants) Regulations, 2018
- SEBI (Registrars to an Issue and Share Transfer Agents) Regulations, 2025 (to the extent applicable during the review period)
- SEBI (Buyback of Securities) Regulations, 2018 (not applicable during the review period)
- SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 (not applicable during the review period)
- SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021 (not applicable during the review period)
- SEBI (Delisting of Equity Shares) Regulations, 2021 (not applicable during the review period)
Compliance Status: Key Findings
The auditor confirmed that SKF India complied with all applicable SEBI regulations and circulars during the review period, with no deviations, penalties, or enforcement actions recorded. The following table summarises the compliance status across key regulatory parameters:
| Parameter: | Compliance Status |
|---|---|
| Secretarial Standards (ICSI) | Yes |
| Adoption and timely updation of policies | Yes |
| Maintenance and disclosures on website | Yes |
| Disqualification of Directors (Section 164, Companies Act 2013) | Yes |
| Details related to subsidiaries | NA – No material subsidiary |
| Preservation of documents | Yes |
| Performance evaluation of Board and Committees | Yes |
| Related party transactions – prior Audit Committee approval | No – see observation |
| Disclosure of events or information (Regulation 30) | Yes |
| Prohibition of Insider Trading (Regulation 3(5) & 3(6)) | Yes |
| Actions taken by SEBI or Stock Exchanges | Yes – No actions taken |
| Resignation of statutory auditors | NA – No such instances |
| Additional non-compliances | NA – No such instances |
Related Party Transactions: Auditor Observation
The auditor noted a partial deviation in the area of related party transactions. While SKF India obtained prior approval of the Audit Committee for most related party transactions, a few transactions were subsequently approved or ratified by the Audit Committee during the review period rather than receiving prior approval. The company confirmed that these transactions were subsequently ratified, and the auditor acknowledged this in the compliance report. No deviations or observations were carried forward from the previous secretarial compliance report for the year ended 31st March 2025.
No Regulatory Actions or Penalties
The auditor confirmed that no actions were taken against SKF India, its promoters, directors, or subsidiaries by SEBI or the stock exchanges during the review period. The company recorded nil deviations, nil fines, and nil violations across all applicable compliance requirements examined. The report was signed by Jayavant B. Bhave, Proprietor of M/s. J. B. Bhave & Co., on 13th May 2026 at Pune, bearing UDIN: F004266H000341691 and P.R. No.: 7781/2026.
Scope Limitations
The auditor noted that the report is based solely on examination of relevant documents and information and does not constitute an audit or expression of opinion. The correctness and appropriateness of financial records and books of account were not verified as part of this exercise. The report is intended solely for compliance purposes under Regulation 24A(2) of the SEBI (LODR) Regulations, 2015 and does not represent an assurance on the future viability of the company or the efficacy of management conduct.
Historical Stock Returns for SKF India
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.04% | -2.25% | +5.39% | -17.31% | -13.46% | -27.02% |
Will SKF India implement stricter internal controls or pre-approval workflows to eliminate the recurrence of related party transactions requiring retrospective Audit Committee ratification in future compliance cycles?
How might SKF India's consistent clean compliance record influence its attractiveness to institutional investors or impact its stock valuation in the near term?
Could the partial deviation in related party transaction approvals signal broader governance gaps that proxy advisory firms or minority shareholders may scrutinize at the upcoming Annual General Meeting?
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