Company Overview

Coral Newsprints Limited is a public limited company listed on the Bombay Stock Exchange (though trading is currently suspended) engaged in manufacturing Newsprints and Absorbent Kraft Papers at its factory located at Gajraula, Distt. Amroha (U.P.). The registered office is at A-138, First Floor, Vikas Marg, Shakarpur, Delhi-110092.

Annual General Meeting Details

The 34th Annual General Meeting (AGM) of Coral Newsprints Limited will be held on Wednesday, 30th September 2026 at 2:00 P.M. through Video Conferencing/Other Audio Visual Means. The deemed venue is A-138 Vikas Marg Shakarpur New Delhi East Delhi DL 110092.

Ordinary Business Agenda:

1. To receive, consider and adopt the Audited Accounts for the financial year ending 31st March 2026 along with reports of Directors and Auditors

2. To appoint a Director in place of Shri Mahesh Kumar Sodhani (DIN: 02293060) who retires by rotation

3. To appoint a Director in place of Shri Vinayak Chauhan (DIN: 08055602) who retires by rotation

Special Business Agenda:

Pursuant to Sections 196, 197, 203, and Schedule V of the Companies Act, 2013, board approval is granted for the appointment of Shri Pushpendra P.S. Chauhan (DIN: 01870760), who is 70 years of age or older, as a Whole-Time Director & CEO for 5 years, effective from 01.04.2026 to 31.03.2031.

Financial Performance (FY 2025-26)

Key Financial Figures (Amount in ₹ Lakhs):

  • Revenue from Operations: ₹13.26 (Previous year: ₹0.00)
  • Profit Before Tax: ₹(31.87) (Previous year: ₹(86.37))
  • Profit for the Year: ₹(31.87) (Previous year: ₹(86.37))
  • Basic and Diluted EPS: ₹(0.63) (Previous year: ₹(1.71))
  • Total Assets: ₹243.53 (Previous year: ₹323.57)
  • Total Equity: ₹(934.90) (Previous year: ₹(903.02))
  • Borrowings (Non-current): ₹163.72 (Previous year: ₹199.42)
  • Trade Payables: ₹541.88 (Previous year: ₹610.84)

Operational Highlights

  • The company's manufacturing operations remain suspended
  • No change in the business of the Company during the financial year
  • Inventory valued at ₹2.50 lakhs (Previous year: ₹18.01 lakhs)
  • Trade Receivables: ₹66.79 lakhs (Previous year: ₹87.80 lakhs)
  • Cash and Cash Equivalents: ₹24.15 lakhs (Previous year: ₹8.65 lakhs)

Board of Directors Composition

The Board consists of 9 directors:

1. Shri Pushpendra P.S. Chauhan - Whole Time Director-CEO

2. Shri Mahesh Kumar Sodhani - Director

3. Shri Atul Kumar Jain - Director

4. Shri Ram Autar Bansal - Director

5. Shri Vinayak Chauhan - Promoter Director

6. Shri Yogesh Alawadi - Director

7. Shri Parveen Kumar Sabharwal - Director Independent

8. Ms. Vineeta Singh - Additional Director-Independent

9. Shri Pradyut Chauhan - Promoter Director CFO

Four Board Meetings were held during the financial year on 26.05.2025, 26.07.2025, 28.10.2025, and 21.01.2026.

Bankers

1. Punjab National Bank, Preet Vihar, Delhi

2. Punjab National Bank, Laxmi Nagar, Main Vikas Marg, Delhi

3. Punjab National Bank, NH-09, Gajraula, Distt. Amroha (U.P)

4. ICICI Bank, Gajraula, Distt. Amroha (U.P.)

Key Audit Matters

1. Evaluation of uncertain tax positions involving matters under dispute

2. Pending litigation with Mr. N.P. Jalan regarding share purchase agreement from 2003

3. Going concern uncertainty due to accumulated losses exceeding net worth

Contingent Liabilities (₹ Lakhs)

  • Water Cess (UPPCB) pending before BIFR: ₹13.89
  • Income Tax Under Appeal (AY 1995-96): ₹2.69
  • Income Tax Under Appeal (AY 1996-97): ₹2.16
  • Water Cess (01.06.2016 to 30.06.2017): ₹44.88
  • Unsecured loan taken from Mr. NP Jalan: ₹345.00

Legal Dispute with Mr. N.P. Jalan

The company entered into a share purchase agreement with Mr. N.P. Jalan in October 2003. A dispute arose, and the Hon'ble High Court of Delhi referred the matter to sole Arbitrator on 18/08/2005. After a settlement award of ₹2.40 crore, the company has paid ₹1.47 crore till 31/03/2025 and deposited ₹93 lakhs with Registrar of Hon'ble Delhi High Court. The matter is pending with Hon'ble Delhi High Court Mediation and Conciliation Centre (Case No: OMP, ENF, COMM 103/2022).

Going Concern Uncertainty

The auditors highlighted that accumulated losses of the company exceed its net worth, indicating material uncertainty that may cast significant doubt on the company's ability to continue as a going concern. The management plans to diversify into other business lines and infuse funds through directors and proposed loans from financial institutions against property.

Shareholding Pattern (as on 31st March 2026)

  • Promoters and Associates: 11,20,200 shares (22.17%)
  • Public: 39,32,500 shares (77.83%)
  • Total: 50,52,700 shares (100%)
  • Dematerialized shares: 2,56,55,00 (49.15% of total shares)

Dividend Declaration

No dividend declared for the current financial year due to conservation of profits/loss incurred by the Company/insufficient profit.

E-voting Details

The e-voting period commences at 9:00 A.M. on 27.09.2026 and ends at 5:00 P.M. on 29.09.2026. The Company's EVSN number is 260567. Mr. Raj Kumar Yadav, Practicing Company Secretary, has been appointed as the Scrutinizer.

#Tags: #CoralNewsprints #AGM2026 #FinancialResults #SEBIDisclosure #RegulatoryCompliance #GoingConcern #Negative