Triumph International Finance India Ltd has responded to BSE Limited's inquiry regarding significant movement in its share price, providing clarification under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The response, dated December 23, 2025, addresses concerns raised by the exchange's surveillance department.

Regulatory Compliance and Disclosure

The company emphasized its consistent adherence to regulatory requirements in its communication to BSE. Key compliance aspects highlighted include:

Triumph International Finance India Ltd stated that it has promptly informed stock exchanges of all events and information that have a bearing on the company's operations or performance, maintaining transparency in its disclosure practices.

Current Material Information Status

The company provided clear clarification regarding any pending material information that could influence share price behavior. As of the clarification date, the management confirmed:

• No pending information or announcements exist
• No impending announcements are planned
• No material developments that could impact price or volume behavior

This statement addresses the exchange's specific inquiry about potential undisclosed information that might explain the observed price movement.

Management's Position on Price Movement

The company's management attributed the share price movement to external market factors rather than any company-specific developments. The clarification outlined several key points:

• Price movement is purely market-driven
• Movement may result from a combination of market conditions and investor perceptions
• Company management has no connection to the observed price behavior
• No internal factors have contributed to the price volatility

Regulatory Communication

The clarification was signed by Nagesh Vinayakrao Kutaphale, Director (DIN-00245782), and submitted to BSE Limited's surveillance department. The company requested that the exchange take the clarification on record and inform exchange members accordingly, ensuring transparency in market communication.

This type of regulatory clarification is standard practice when stock exchanges observe unusual price or volume movements, helping maintain market integrity and investor confidence through transparent communication.

Triumph International Finance India Ltd has released its unaudited financial results for the quarter and half-year ended September 30, revealing a complex financial situation marked by regulatory challenges and auditor concerns.

Financial Performance

Despite ongoing challenges, the company reported a net profit of Rs 105.44 crore for the quarter ended September 30, and Rs 203.77 crore for the half-year. However, these figures come with significant qualifications from the auditors.

Auditor Qualifications

The auditors, Rawat & Associates, have raised several concerns in their review report:

1. Doubtful Debt Recovery: An amount of Rs 67.16 crore receivable from Classic Credit Limited (CCL) is deemed doubtful. The auditors note that if this amount is not recoverable, the profit for the period would be significantly lower.

2. Unrecognized Interest Liability: The company has not recognized interest on a loan of Rs 46.76 crore from Punjab National Bank since April 1, 2011. The auditors state that this non-recognition is not in compliance with Indian Accounting Standards.

3. Uncertain Recoverability: An amount of Rs 3.56 crore paid to Panther Investrade Limited is under scrutiny, with its recoverability uncertain due to pending DRT (Debt Recovery Tribunal) matters.

4. Dividend Income Concerns: The auditors are unable to express an opinion on a dividend income of Rs 10.04 lakh credited to the profit and loss account, due to lack of information regarding share ownership.

5. Going Concern Issues: The auditors highlight concerns about the company's status as a going concern, given that the Securities and Exchange Board of India (SEBI) has cancelled the company's registration as a stock broker, and the National Stock Exchange has declared it a defaulter.

Regulatory Challenges

The company faces significant regulatory hurdles:

• SEBI has cancelled Triumph International Finance's registration as a stock broker.
• The National Stock Exchange has declared the company a defaulter.
• The company's appeal against these decisions has been dismissed by the Apex Court.

Management's Stance

Despite these challenges, the company's management has prepared the accounts on a going concern basis, expressing intent to resume share trading business. However, they acknowledge that commencement is currently hindered by technical reasons.

Conclusion

Triumph International Finance India Ltd's latest financial results paint a picture of a company grappling with substantial regulatory and financial challenges. While the reported profits appear positive, the numerous auditor qualifications cast significant doubt on the company's financial health and future prospects. Investors and stakeholders should carefully consider these factors when assessing the company's position.