Summary of Key Information:
Reporting Period (Quarter/Year): Quarter and Year ended March 31, 2026
Nature of Filing / Announcement: Outcome of Board Meeting and Audited Financial Results
Date of Board Meeting / Approval: May 22, 2026
Audit Opinion: Qualified Opinion
Auditor’s Comment: The auditors, M/s D S M R & Co, issued a qualified opinion due to a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern. The company's net worth is negative at ₹17,544.16 lakhs as of March 31, 2026.
Key Financial Highlights [Unit: ₹ Lakhs]
Standalone Results (Year Ended March 31, 2026):
Revenue from Operations: ₹473.22
Total Income: ₹160.57
Finance Cost: ₹607.95
Net Profit/(Loss): ₹(275.74)
EPS (Basic/Diluted) - Continuing Operations: ₹(0.56)
Other Equity: ₹(20,766.11)
Paid-up Equity Share Capital: ₹3,221.95
Standalone Results (Quarter Ended March 31, 2026):
Revenue from Operations: ₹167.96
Total Income: ₹156.22
Finance Cost: ₹121.66
Net Profit/(Loss): ₹(275.74)
EPS (Basic/Diluted) - Continuing Operations: ₹(0.56)
Statement of Assets and Liabilities (As at March 31, 2026):
Total Assets: ₹1,785.44
Non-Current Assets: ₹40.67
Current Assets: ₹217.96
Assets Held for Disposal: ₹1,526.81
Cash and Cash Equivalents: ₹19.39
Bank Balance Other Than Cash Equivalents: ₹17.26
Total Equity: ₹(17,544.16) [Calculated as Share Capital + Other Equity: 3,221.95 + (20,766.11)]
Total Liabilities: ₹19,329.60
Non-Current Liabilities: ₹16,004.87
- Borrowings: ₹14,250.00
- Other Financial Liabilities: ₹1,750.00
Current Liabilities: ₹2,681.52
- Borrowings: ₹2,355.00
- Trade Payables: ₹285.83
Liability Directly Associated with Assets Held for Disposal: ₹643.21
Segment-wise Performance [Unit: ₹ Lakhs]:
The company has two reportable segments: Paper & Paper Board and Trading of plastic & packaging materials.
Segment Revenue - FY26:
- Paper and Paper Board: ₹473.22
- Trading of plastic & packaging materials: Not Specified [Segment revenue is consolidated under Revenue from Operations]
Segment Profit/(Loss) Before Interest and Tax - FY26:
- Paper and Paper Board: ₹(80.64)
- Trading of plastic & packaging materials: ₹(78.80)
Discontinued Operations:
The Board of Directors decided on November 13, 2024, to discontinue the manufacturing of Paper & Paperboards situated at Ambivali. The results of this unit are classified as discontinued operations.
Net Profit/(Loss) for Discontinued Operations - FY26: ₹36.95
Net Profit/(Loss) for Discontinued Operations - Q4 FY26: ₹36.95
Corporate Actions:
Dividend declarations: Not Specified
The Board approved the following re-appointments, subject to shareholder approval at the ensuing AGM:
1. Re-appointment of Shri Anuraag Poddar (DIN:00599143) as Chairman and Managing Director for a period of 3 years from February 11, 2027, to February 10, 2030.
2. Re-appointment of Shri Manish Malpani (DIN:00055430) as Whole-time Director & CFO for a period of 3 years from December 9, 2026, to December 8, 2029.
3. Re-appointment of Prof. (Dr.) Mangesh D. Teli (DIN:00218899) as a Non-Executive Independent Director for a second term of 5 years from December 9, 2026, to December 8, 2031, permitting him to continue after attaining 75 years of age.
Other Significant Information:
Entities included/excluded in consolidation: The company does not have any subsidiary/associate/joint ventures as of March 31, 2026.