Step 1: Taking the Natural Logarithm.
Given:
\[
e^{x^2y} = c
\]
Taking the natural logarithm on both sides:
\[
x^2y = \ln c
\]
Differentiating both sides with respect to \( x \) using implicit differentiation:
\[
2x y + x^2 \frac{dy}{dx} = 0
\]
Solving for \( \frac{dy}{dx} \):
\[
\frac{dy}{dx} = \frac{-2y}{x}
\]
Conclusion:
Thus, the required derivative is \( \frac{-2y}{x} \), which corresponds to option \( \mathbf{(B)} \).