Coromandel Engineering Company Limited has issued a formal clarification to BSE Limited regarding recent movement in its equity share price, responding to a surveillance inquiry from the stock exchange. The company's response, dated December 17, 2025, addresses BSE's email inquiry from December 16, 2025, seeking explanation for the price movement in the company's equity shares.

Company's Response to Price Movement Inquiry

In its clarification letter to BSE Surveillance, Coromandel Engineering stated that the movement in the company's share price is purely due to market conditions and market-driven factors. The company emphasized that it has neither any control over such movements nor any specific undisclosed information that could have led to the price fluctuation.

Regulatory Compliance Confirmation

The company confirmed its adherence to disclosure requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Coromandel Engineering stated that it has consistently intimated the stock exchange of all events and information having an impact on its operations and performance, including all price-sensitive information as required under Regulation 30.

The company reiterated its commitment to keeping the stock exchange duly informed of any information required under the regulations as and when such events occur. This response demonstrates the company's transparency in addressing regulatory inquiries and maintaining compliance with disclosure norms.

Corporate Information

Coromandel Engineering Company Limited operates from its registered and corporate office located at Bascon Futura, No.10/2, Old No.56L, Venkatanarayana Road, T. Nagar, Chennai-600017. The company holds ISO 9001:2015 and ISO 45001:2018 certifications and is incorporated under CIN No: L74910TN1947PLC000343. The clarification was signed by G V Manimaran, Chairman and Managing Director of the company.

McNally Bharat Engineering Company Limited has disclosed receiving a significant regulatory notice from the Employees Provident Fund Organization (EPFO), Ranchi, requiring the company to deposit ₹9.60 crores under provisions of the EPF & MP Act, 1952.

Notice Details and Assessment

The company received the notice relating to Section 14B of the EPF & MP Act, 1952. The EPFO has directed McNally Bharat to deposit the assessed amount, marking a significant regulatory development for the engineering company.

CIRP-Era Origins and Current Response

The subject matter of the notice originated during McNally Bharat's Corporate Insolvency Resolution Process (CIRP) when the company was under a Resolution Professional. Following the new promoter's takeover, the company has been systematically identifying and addressing information and regulatory gaps from the CIRP tenure. This EPFO notice represents one such gap that has now been identified.

The company emphasized that no action had been taken on this alleged claim by those administering the company during the CIRP period, and it has only now been discovered. McNally Bharat is actively engaged in addressing the issue through multiple approaches.

Company's Action Plan

McNally Bharat is currently evaluating its options to address the notice. The company's approach includes:

• Close liaison with PF authorities to address the alleged inconsistency
• Assessment of the notice's authenticity and sustainability
• Evaluation of rights to appeal with higher authorities
• Taking necessary actions to comply with directives as required

The company stated that if follow-up discussions with PF authorities reveal no shortcomings on the company's part, the matter will be pursued through legal channels.

Regulatory Compliance and Disclosure

In accordance with Regulation 30 of SEBI (LODR) Regulations, 2015, McNally Bharat has informed both NSE and BSE about this development. The company has committed to keeping stock exchanges informed of any material developments arising from this notice in compliance with regulatory requirements.

The disclosure demonstrates the company's commitment to transparency while it navigates the resolution of regulatory matters inherited from its CIRP period under new management.