Facor Alloys Ltd — Important, 28-05-2026: Company Update

Facor Alloys' Secretarial Compliance Report for the financial year ended March 31 reveals several non-compliances. The company faced penalties totaling Rs. 23,600 for late audit impact statement submission and Rs. 1,32,160 for governance issues like committee constitution and related party disclosures. Operations have been shut since October 2023, leading to minimal revenue, continuous losses, and reliance on promoter funds. A key challenge involves the inability to consolidate overseas subsidiaries' financials due to unavailable information. However, management deems these subsidiaries non-operational with impaired investments, stating non-consolidation has no material impact. The company also secured a 27.97 Cr advance for disposing of plant and machinery.