Happy Forgings addresses exchange fines for compliance lapses

Happy Forgings Limited announced on November 6, 2025, that its board of directors reviewed and addressed fines levied by the National Stock Exchange of India Ltd. and BSE Ltd. The fines, totaling INR 14,160 from the NSE and INR 14,160 from the BSE, stemmed from non-compliance with Regulations 19(1) and 19(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This related specifically to the composition of the Nomination & Remuneration Committee during the quarter ended June 30, 2025.

The board noted that the non-compliance was not willful and has advised stricter adherence to compliance requirements going forward. The company confirmed that the levied fines, inclusive of 18% GST, have been paid to both exchanges.

Happy Forgings reiterated its commitment to comply with applicable regulations and has initiated steps to strengthen its processes to prevent future inadvertent delays.