SMS Pharmaceuticals Limited — Important, 12-02-2025: Updates

The Board of Directors of SMS Pharmaceuticals Limited has addressed the fines levied by the National Stock Exchange and BSE due to non-compliance with regulations concerning the composition of the Nomination and Remuneration Committee for the quarter ended September 30, 2024. The Board acknowledged the imposed fine of ₹2,000 (cr) per day for the non-compliance and noted that the company has already paid the fine. The addition of a non-executive director was described as an unintentional oversight, and a formal request for waiver of the fine has been submitted to the exchanges. Moving forward, the Board has mandated enhanced vigilance regarding regulatory compliance measures, aiming to protect investor interests and fortify corporate governance practices. This situation highlights the urgent need for adherence to compliance protocols to mitigate risks associated with regulatory penalties. Watch closely as the company's compliance efforts evolve.