Description
NSE moves Perfect Infraengineers Limited and 22 other companies to Z Category for non-compliance with financial results submission requirements.
Summary
NSE has identified Perfect Infraengineers Limited (PERFECT) as non-compliant with Regulation 33 of SEBI LODR Regulations for two consecutive half years (September 30, 2024 and March 31, 2025). The company’s securities will be shifted to Z Category effective August 8, 2025, unless compliance is achieved by August 5, 2025. Additionally, 22 other companies already in Z Category have been identified for similar non-compliance.
Key Points
- Perfect Infraengineers Limited faces potential Z Category transfer for missing financial results submissions
- 22 companies already in Z Category identified for additional non-compliance periods
- All trades in Z Category securities will be settled on Trade for Trade basis
- Grace period provided until August 5, 2025 for Perfect Infraengineers to comply
Regulatory Changes
Implementation of SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, requiring transfer of non-compliant securities to Z Category for failure to submit financial results under Regulation 33 of SEBI LODR Regulations.
Compliance Requirements
- Perfect Infraengineers Limited must submit pending financial results for September 30, 2024 and March 31, 2025 by August 5, 2025
- All companies must comply with Regulation 33 requirements for quarterly and half-yearly financial results submission
- Trading members must note Trade for Trade settlement mechanism for Z Category securities
Important Dates
- August 5, 2025: Final deadline for Perfect Infraengineers Limited to comply
- August 8, 2025: Effective date for Z Category transfer and circular implementation
- Missing periods: September 30, 2024 and March 31, 2025 (half years), December 31, 2024 and March 31, 2025 (quarters)
Impact Assessment
Z Category classification significantly restricts trading liquidity and investor access. The Trade for Trade settlement mechanism eliminates intraday trading opportunities and increases settlement risk. This affects 23 companies total, with Perfect Infraengineers being the new addition. Existing Z Category companies face extended restrictions due to continued non-compliance across multiple reporting periods.
Impact Justification
High impact due to trading restrictions affecting multiple companies and investor access