Panyam Cements Provides Formal Clarification to BSE on Financial Results Delay
Panyam Cements provided detailed clarification to BSE explaining how key personnel resignations in February and April 2025 led to coordination difficulties with audit teams and management guidance gaps, causing delays in September 2025 financial results. The company formally apologized and assured commitment to improved corporate governance and regulatory compliance.
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Panyam Cements & Mineral Industries has provided a formal clarification to the Bombay Stock Exchange (BSE) regarding the delay in submitting its financial results for the period ended September 30, 2025. The company's response came following a BSE inquiry dated December 4, 2025, seeking reasons for the non-disclosure of delay factors.
Key Personnel Resignations
The company reiterated the timeline of crucial resignations that led to the delay:
| Position: | Resignation Date |
|---|---|
| Chief Financial Officer (CFO): | February 15, 2025 |
| Company Secretary & Compliance Officer: | April 15, 2025 |
Company's Detailed Explanation
In its December 10, 2025 communication signed by Managing Director Jagathrakshakansrinisha (DIN: 01728749), Panyam Cements outlined specific challenges:
Operational Difficulties
- Coordination Issues: Absence of key personnel created difficulties in coordinating with the company's audit team
- Management Guidance Gap: The board and management lacked proper advice and guidance without the CFO and Company Secretary
- Process Delays: The audit and financial results process faced inadvertent delays due to personnel gaps
Attempted Compliance Efforts
The company disclosed that it attempted to convene and hold a board meeting to consider and declare the financial results. However, without suitable guidance and awareness of regulatory provisions, management could not finalize the necessary steps to inform about the delay and account for it properly.
Formal Apology and Assurances
Panyam Cements expressed sincere apologies for the inadvertent delay and provided comprehensive assurances to the exchange:
| Commitment Area: | Company's Assurance |
|---|---|
| Future Prevention: | Taking necessary steps to avoid unforeseen challenges |
| Corporate Governance: | Upholding highest standards |
| Regulatory Compliance: | Ensuring timely compliance with all stock exchange requirements |
Market Impact and Outlook
This formal clarification demonstrates the company's commitment to transparency and regulatory compliance. The detailed explanation to BSE shows Panyam Cements' efforts to address internal challenges while maintaining open communication with regulators. The company's proactive approach in providing comprehensive details about the delay factors may help restore confidence among stakeholders and ensure smoother operations going forward.
Historical Stock Returns for Panyam Cements & Mineral Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.12% | -9.65% | -0.31% | -23.21% | -26.49% | +998.91% |
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