Mahamaya Steel Industries Limited's board of directors has formally addressed the fine imposed by the National Stock Exchange (NSE) for delayed submission of half-yearly financial results. The board meeting held on January 19, 2026, specifically dealt with the regulatory non-compliance and its financial implications.

NSE Fine Details

The NSE imposed a significant penalty on the steel manufacturing company for failing to submit financial results within the prescribed timeframe. The fine structure and total amount are detailed below:

Company's Response and Compliance Timeline

The company maintains that it achieved compliance on November 13, 2025, the same day as its board meeting. On this date, Mahamaya Steel Industries submitted comprehensive documentation to both stock exchanges, including the outcome of the board meeting, quick results, and integrated filings. The company also fulfilled additional disclosure requirements by publishing results in newspapers and making them available on its website.

Technical Issues and Appeal

The board noted that despite timely submission, the penalty was imposed possibly due to technical issues with the NSE portal, as the results were correctly reflected on the BSE website. The company had requested NSE to waive the penalty considering all compliance aspects, but this request was not accepted by the exchange.

Board Resolution and Payment Status

The board emphasized several key points regarding the non-compliance:

• The delayed submission was not intentional
• All required documentation was submitted on the board meeting date
• The company has already paid the fine within the prescribed timeframe
• Full compliance was achieved across all regulatory requirements

Meeting Details

The board meeting commenced at 2:45 PM and concluded at 3:15 PM on January 19, 2026. The resolution was signed by Jaswinder Kaur Mission, Company Secretary and Compliance Officer, who holds membership number FCS 7489. The meeting specifically addressed the NSE's notice dated December 16, 2025, which outlined the non-compliance details and payment requirements.

Mahamaya Steel Industries Limited has completed the redemption of ₹2 crores worth of unlisted preference shares, as announced by the company's Board of Directors on January 5, 2025.

Preference Share Redemption Details

The redemption involves the seventh tranche of preference shares issued to M/s Escort Finvest Private Limited. The company has provided specific details about the redeemed securities in its regulatory filing.

Regulatory Compliance

The company has formally communicated this redemption to both major stock exchanges where its equity shares are listed. Mahamaya Steel Industries trades on BSE under scrip code 513554 and on NSE under the symbol MAHASTEEL.

The intimation was signed by Jaswinder Kaur Mission, Company Secretary & Compliance Officer (Membership No. FCS 7489), ensuring proper corporate governance protocols were followed for this transaction.

Company Background

Mahamaya Steel Industries Limited operates from its registered office and works located in Urla Industrial Complex, Raipur, Chhattisgarh. The company holds various certifications including ISO 9001:2015 and manufactures products such as joist, channel, angle, flat, round, crossing sleeper bar, bloom, and billet. The company serves as an approved supplier to major organizations including BSP, BHEL, DGS&D, DMRC, SAIL, RIL, NTPC, SEBs, RDSO, CORE, ONGC, GAIL, and EIL.