Microse India Limited has paid a regulatory fine of ₹2,71,400 to BSE Limited for delayed submission of complete financial results for the quarter and financial year ended March 31, 2025. The company made the payment on January 27, 2026, following BSE's rejection of its waiver request.

Fine Details and Payment

The total fine amount comprises the base penalty and applicable taxes as detailed below:

The company paid this amount without prejudice to its rights, remedies, and contentions, including the right to seek review and other legal remedies available under law.

Timeline of Events

The regulatory non-compliance issue began with the company's delayed submission of complete financial results for Q4FY25. BSE communicated the non-compliance in June 2025, leading to a series of submissions and regulatory proceedings.

Key Submission Dates

Waiver Request Process

Microse India submitted a waiver request for the SOP fine, which underwent formal review by BSE's regulatory authorities. The waiver application was placed before the Internal Regulatory Oversight and Review Group during their meeting held on January 2, 2026.

However, BSE communicated on January 21, 2026, that the waiver request was not approved, confirming the fine amount of ₹2,71,400 inclusive of GST.

Regulatory Compliance Details

BSE alleged that Microse India was not in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. While the company had submitted most required documents on May 28, 2025, the Statement on Impact of Audit Qualification required resubmission on July 17, 2025.

Impact Assessment

Current Status

The company has fully settled the outstanding fine amount and confirmed no remaining non-compliance issues with BSE. Microse India remains committed to ensuring strict compliance with all applicable regulatory requirements going forward. The company disclosed this information under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on March 6, 2026.

Microse Limited, a company listed on the Bombay Stock Exchange, has reported a significant increase in its net loss for the quarter ended September 30, 2025. The company's financial performance has deteriorated compared to the previous quarter, with negative revenue and increased expenses.

Financial Highlights

Microse's financial results for the second quarter of fiscal year 2026 show a net loss of Rs 8.86 crore, compared to a loss of Rs 148.14 crore in the previous quarter. While this represents a significant reduction in losses, it's important to note that the company's revenue from operations remained negative at Rs 1.55 crore for the quarter.

Operational Performance

The company's total expenses for the quarter stood at Rs 7.32 crore, with employee benefit expenses accounting for Rs 2.78 crore and other expenses at Rs 4.54 crore. Despite the reduction in total expenses compared to the previous quarter, the negative revenue continues to impact the company's bottom line.

Balance Sheet Position

As of September 30, 2025, Microse's total assets stood at Rs 158.45 crore. The company's balance sheet shows:

• Current investments and inventories as major components of assets
• A paid-up equity share capital of Rs 216.41 crore
• Negative reserves and surplus of Rs 147.94 crore

Management Commentary

The Board of Directors approved these unaudited financial results on November 10, 2025, subject to limited review by statutory auditors. The company operates in a single business segment, as per the Indian Accounting Standards on Operating Segments.

Investor Considerations

While the reduction in net loss compared to the previous quarter might seem positive, investors should note the persistent negative revenue and the company's continued losses. The negative reserves and surplus position also indicates ongoing financial challenges for Microse Limited.

Shareholders and potential investors are advised to carefully consider these financial results and the company's future prospects before making investment decisions.