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Finolex Industries Publishes Q1 Financial Results

Mumbai, July 29, 2024 — Finolex Industries Limited has published its unaudited financial results for the quarter ending June 30, 2024. The results have been made available in the Financial Express - All India edition and Loksatta - Pune edition.

Key Details of the Announcement

Introduction

Finolex Industries Limited has officially released its unaudited financial results for the first quarter of the financial year 2024-25. The publication aligns with the requirements set forth by SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Publication Details

• Newspapers: Financial Express (All India edition) and Loksatta (Pune edition)
• Date of Publication: July 29, 2024

Compliance and Regulatory Adherence

SEBI Regulations

The publication follows Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to publish their financial results in widely circulated newspapers.

Unaudited Financial Results

The unaudited financial results provide insights into the company's performance for the quarter ending June 30, 2024, showcasing the company's adherence to transparency and regulatory compliance.

Financial Performance Highlights

Quarterly Results Overview

The unaudited financial results for Q1 FY2024-25 reflect Finolex Industries' operational performance and financial health. The detailed results include:

• Revenue: The total revenue for the quarter.
• Profit Before Tax (PBT): The profit generated before tax deductions.
• Net Profit: The net profit after tax deductions.
• Earnings Per Share (EPS): The earnings attributed to each outstanding share of common stock.

Financial Metrics

The financial results include key metrics such as revenue growth, profitability, and earnings per share, providing a comprehensive view of the company's financial status.

SEBI Order Against S.P. Natural Eco-Green Projects (India) Limited

SEBI Restrains S.P. Natural Eco-Green Projects

On the same day, SEBI issued an order against S.P. Natural Eco-Green Projects (India) Limited, restricting them from accessing the securities market and prohibiting their involvement in any market activities for two years due to regulatory violations.

Detailed SEBI Order Information

SEBI's Directive

• Entities Involved: S.P. Natural Eco-Green Projects (India) Limited and its directors.
• Actions Taken: Prohibition from accessing the securities market, issuance of prospectus, and solicitation of public funds.
• Duration: Two years or until six months after investor refunds are completed, whichever is later.

Background of the Case

SEBI's investigation revealed that S.P. Natural Eco-Green Projects (India) Limited engaged in fund mobilization activities without complying with SEBI regulations. This included issuing redeemable preference shares without proper disclosures or permissions.

Investor Refund Process

SEBI has directed the involved parties to refund the collected amounts to investors with interest and has provided a detailed order on how to proceed with these refunds. For more information, refer to the SEBI website here.

Conclusion

Finolex Industries Limited has demonstrated its commitment to transparency and regulatory compliance by publishing its Q1 financial results in accordance with SEBI regulations. Meanwhile, SEBI's strict action against S.P. Natural Eco-Green Projects (India) Limited underscores the importance of regulatory adherence in the securities market.