Balmer Lawrie & Co . Ltd., a Government of India enterprise, has officially declared an interim dividend of Rs.4.25 per equity share for the financial year 2025-26. The Board of Directors approved this decision at their meeting held on March 5, 2026, as disclosed in the company's regulatory filing to stock exchanges.

Dividend Declaration Details

The interim dividend announcement comes with specific parameters that shareholders need to note for eligibility and payment.

The record date of March 11, 2026, has been fixed pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Shareholders holding equity shares as of the end of this date will be eligible to receive the interim dividend.

Board Meeting and Regulatory Filing

The Board of Directors meeting commenced at 12:30 p.m. and concluded at 05:45 p.m. on March 5, 2026. The company has filed the necessary disclosure under Regulation 30 of the Listing Regulations with both NSE and BSE, ensuring compliance with regulatory requirements.

The company secretary and compliance officer, Kavita Bhavsar, signed the regulatory disclosure with digital signature on March 5, 2026, confirming the dividend declaration and ensuring proper documentation for transparency in corporate governance.

Company Background

Balmer Lawrie & Co. Ltd. operates as a Central Public Sector Enterprise under the Ministry of Petroleum & Natural Gas. The company has been serving since 1867 and maintains its registered office at 21, Netaji Subhas Road, Kolkata. The dividend declaration demonstrates the company's commitment to rewarding shareholders while maintaining its operational excellence as a government enterprise.

The interim dividend payment will be processed within the statutory timeline as stipulated under relevant regulations, ensuring timely distribution to all eligible shareholders who hold shares as of the record date.

Balmer Lawrie & Co Ltd. has disclosed that both NSE Limited and BSE Limited imposed fines on the company for non-compliance with listing regulations during the quarter ended December 31, 2025. The penalties were communicated to the company via email in February 2026, under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.

Stock Exchange Penalties and Violations

Both stock exchanges imposed fines for violations of specific listing regulations during the third quarter:

The primary violations occurred when the company's board composition failed to meet regulatory requirements. Specifically, the board did not comprise at least 50% non-executive directors due to insufficient numbers of independent directors and non-executive directors. Additionally, issues arose regarding the composition of the Nomination and Remuneration Committee during this period.

Board Meeting and Official Response

The Board of Directors convened on March 5, 2026, from 12:30 p.m. to 05:45 p.m. to address the fines imposed by both stock exchanges. During the meeting, the Board took on record the penalties and confirmed the contents of representations made to the stock exchanges seeking waiver of the fines.

The Board emphasized that as a Central Public Sector Enterprise under the administrative control of the Ministry of Petroleum & Natural Gas, the company operates under specific constraints. According to Article 7A of the company's Articles of Association, the President of India has the authority to appoint directors to the board, including:

• Whole-time Directors
• Independent Directors
• Woman Independent Directors
• Woman Directors
• Government Nominee Directors

Company's Contestation of Penalties

Balmer Lawrie has contested specific aspects of the penalties, particularly regarding Regulation 19(2) of the listing regulations. The company clarified that the Chairperson of the Nomination and Remuneration Committee was an Independent Director throughout the entire quarter under review. The Board confirmed there was no non-compliance pertaining to Regulation 19(2) regarding the committee's composition during the quarter ended December 31, 2025.

Government Control and Waiver Requests

The company has made representations to both NSE and BSE seeking waiver of the imposed fines, citing that board composition depends on directions from the Administrative Ministry. The Board noted that the non-compliances were due to factors beyond the company's direct control, as the composition of the Board of Directors is dependent upon directions from the Administrative Ministry.

Regulatory Compliance and Disclosure

The disclosures were made under Regulation 30 read with Point 20(b) of Para A of Part A of Schedule III of the SEBI Listing Regulations. This regulation mandates listed companies to inform stock exchanges about fines, penalties, or disciplinary actions imposed by regulatory authorities. The company fulfilled this obligation by notifying both NSE and BSE about the penalties and their circumstances through official communications dated February 27, 2026, and February 28, 2026.