Bharat Dynamics fines of Rs 13,03,900 each, inclusive of GST, have been imposed by BSE Limited and the National Stock Exchange of India Limited for regulatory non-compliance during the quarter ended 30 June 2026, the defence public sector undertaking said in a BSE filing dated 26 August 2026.

Bharat Dynamics Limited (BDL), a Government of India enterprise under the Ministry of Defence, informed the exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company is listed under BSE scrip code 541143 and NSE symbol BDL.

BDL plans to seek waiver from both exchanges

The fines relate to non-compliance with Regulations 17(1), 17(2A), 18(1), 19(1), 20(2)/(2A) and 21(2) of SEBI LODR. These provisions were specifically cited in the company's exchange intimation.

  • BSE fine: Rs 13,03,900, inclusive of GST
  • NSE fine: Rs 13,03,900, inclusive of GST
  • Relevant period: Quarter ended 30 June 2026

BDL said it will seek a waiver of the fines under the applicable policy for exemption of fines, citing the impossibility of compliance. It explained that the authority to appoint directors to its board rests with the President of India, acting through the Ministry of Defence.

According to the filing, the BDL board has no role in appointing directors. The company intends to rely on this governance structure as the basis for its waiver request to BSE and NSE.

Company says operations and finances are unaffected

Bharat Dynamics stated that the fines imposed by the two stock exchanges have no impact on its financial, operational or other activities. The disclosure did not state that either exchange had accepted a waiver request; it only recorded the company's intention to seek one.

The filing was signed by company secretary N. Nagaraja and addressed to both BSE and NSE. It was issued from BDL's corporate office in Hyderabad and carried the reference number BDL/CS/2026/SE-41.

The disclosure therefore leaves the exchange fines in place at the time of the intimation, while BDL prepares to pursue waiver on the stated ground that director appointments are controlled by the President of India through the Ministry of Defence.

Source: BSE corporate announcement.