Monarch Surveyors & Engineering Consultants Limited has announced the receipt of a Letter of Acceptance (LOA) for a significant railway infrastructure project from Western Railway. The contract, valued at ₹1.28 crore, involves conducting Pre & post-tamping track measurement surveys using advanced Trimble Gedo Vorsys trolley system technology.

Project Details and Scope

The survey project will be executed in the jurisdiction of Divisional Engineer (East), Rajkot. The contract encompasses comprehensive track measurement activities that are crucial for railway infrastructure maintenance and safety. The company will utilize the specialized Trimble Gedo Vorsys trolley system, which represents advanced surveying technology for railway applications.

Management Commentary

Commenting on the development, Mr. Dattatraya Karpe, Managing Director, stated: "We are happy to share that we have strengthened our presence in the railway infrastructure sector with this new order, alongside our continued engagements across roads, urban infrastructure and other core consultancy segments. This order from Western Railway reflects our growing technical expertise in high-precision track measurement services."

He further added that the project leverages the company's technical expertise and reflects the confidence that authorities place in them for critical project delivery. With a healthy order pipeline and sustained execution focus, the management remains confident about the company's growth strategy and near-term business prospects.

Contract Terms and Implementation

According to the Letter of Acceptance, the work is scheduled to commence immediately with an estimated completion timeline of 18 months as per contract terms. The project involves cash consideration as the payment mechanism, and the work is subject to necessary approvals from governmental authorities.

Regulatory Compliance and Disclosure

The company has made this disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The management has indicated that this development is expected to positively impact the company's business operations.

Business Impact

This contract award represents a significant development for Monarch Surveyors & Engineering Consultants Limited, strengthening its position in the railway infrastructure surveying sector. The project demonstrates the company's capability to secure substantial contracts from major railway authorities and its expertise in deploying advanced surveying technologies for critical infrastructure projects. Founded in 1999, the company is a publicly listed leader in infrastructure driving transformative projects across railways, roads, urban development, and industrial corridors.

Monarch Surveyors & Engineering Consultants Limited has disclosed receiving a regulatory fine from BSE Limited for non-compliance with SEBI listing obligations. The company announced the penalty through a formal disclosure dated February 21, 2026, in accordance with regulatory requirements.

Fine Details and Compliance Violation

BSE Limited imposed a fine of Rs. 22,420 (including GST) on the company for failing to submit the statement on shareholder complaints within the prescribed timeframe. The violation pertains to non-compliance with Regulation 13(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, for the quarter ended December 31, 2025.

Payment Timeline and Company Response

The company has been given 15 days from the notice date to settle the penalty amount. Monarch Surveyors has confirmed that it has completed the requisite compliance measures and submitted the necessary documentation to BSE Limited following the notice.

Financial Impact Assessment

According to the company's disclosure, the financial impact is limited to the penalty amount of Rs. 22,420 imposed by BSE. The company stated there is no additional impact on its financial, operational, or other activities beyond this monetary penalty.

Regulatory Framework

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided detailed information as required under the regulatory framework, including the nature of the violation, timeline for payment, and assessment of business impact.

The penalty reflects BSE's enforcement of compliance requirements for listed companies regarding timely submission of shareholder complaint statements, which form part of the broader corporate governance framework under SEBI regulations.