Board Meeting Outcomes

The Board of Directors meeting held on May 28, 2026 (3:00 PM to 4:45 PM) approved the following matters:

1. Standalone Audited Financial Results for quarter and financial year ended March 31, 2026, along with Statement of Assets and Liabilities and Cash Flow Statement, reviewed by Audit Committee and approved by Board

2. Audit Report from Statutory Auditor on Audited Financial Results (Standalone)

3. Appointment of Cost Auditors - M/s. Deepak Khanuja & Associates, Cost Accountants, as Cost Auditors for financial year 2026-27 (Firm Registration No: 100247, Membership No: 18684)

4. Statement on Deviation or Variation - Not Applicable

5. Disclosure of outstanding default on Loans and Debt Securities - Not Applicable

6. Auditor's Report Declaration - Pursuant to Regulation 33(3)(d), declared that Auditor's Report on Audited Financial Results is with unmodified opinion

Trading Window Closure

The Trading Window for dealing in securities shall remain closed for all designated persons until 48 hours after conclusion of the meeting, in accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015.

Financial Results Highlights (Standalone)

Quarter Ended March 31, 2026 (Q4 FY26):

  • Income from Operations: ₹10,622.88 lakh (Net Sales: ₹10,578.74 lakh + Other Operating Income: ₹44.14 lakh)
  • Total Expenses: ₹10,573.50 lakh
  • Profit/(Loss) from operations before Interest and Depreciation (EBIT): ₹469.04 lakh
  • Finance Cost: ₹282.18 lakh
  • Depreciation and amortisation expenses: ₹137.48 lakh
  • Profit/(Loss) from operations before Exceptional Items and Tax: ₹49.38 lakh
  • Tax Expenses: Deferred Tax ₹318.40 lakh
  • Profit/(Loss) for the period: ₹(266.14) lakh
  • Other comprehensive income: ₹(1.18) lakh
  • Total Comprehensive Income: ₹(266.14) lakh
  • Basic and Diluted EPS: ₹(1.56) per share (Face value ₹10 each)

Financial Year Ended March 31, 2026 (FY26):

  • Income from Operations: ₹33,405.45 lakh (Net Sales: ₹33,328.87 lakh + Other Operating Income: ₹76.58 lakh)
  • Total Expenses: ₹35,724.65 lakh
  • Profit/(Loss) from operations before Interest and Depreciation (EBIT): ₹(630.90) lakh
  • Finance Cost: ₹1,138.39 lakh
  • Depreciation and amortisation expenses: ₹549.93 lakh
  • Profit/(Loss) from operations before Exceptional Items and Tax: ₹(2,319.20) lakh
  • Tax Expenses: Deferred Tax ₹366.12 lakh
  • Profit/(Loss) for the period: ₹(1,950.20) lakh
  • Other comprehensive income: ₹(1.18) lakh
  • Total Comprehensive Income: ₹(1,950.20) lakh
  • Basic and Diluted EPS: ₹(11.43) per share (Face value ₹10 each)

Statement of Assets & Liabilities (as at March 31, 2026)

Assets:

  • Non-Current Assets: ₹8,739.43 lakh (Property, Plant and Equipment: ₹6,771.35 lakh, Deferred tax assets: ₹1,924.83 lakh)
  • Current Assets: ₹9,360.11 lakh (Inventories: ₹4,329.05 lakh, Trade receivables: ₹3,896.84 lakh, Cash and cash equivalents: ₹12.73 lakh)
  • Total Assets: ₹18,099.55 lakh

Equity and Liabilities:

  • Shareholders Funds: ₹(2,548.93) lakh (Share Capital: ₹1,705.93 lakh, Reserves and Surplus: ₹(4,254.85) lakh)
  • Non-Current Liabilities: ₹599.77 lakh (Borrowings: ₹444.85 lakh, Provisions: ₹154.91 lakh)
  • Current Liabilities: ₹20,048.71 lakh (Borrowings: ₹14,817.61 lakh, Trade payables: ₹4,712.69 lakh)
  • Total Equity and Liabilities: ₹18,099.55 lakh

Cash Flow Statement (FY Ended March 31, 2026)

  • Cash flow from Operating activities: Net cash inflow ₹725.17 lakh
  • Cash flow from Investing activities: Net cash outflow ₹(663.44) lakh
  • Cash flow from Financing activities: Net cash outflow ₹(63.82) lakh
  • Net increase/(decrease) in cash and cash equivalents: ₹(2.08) lakh
  • Cash and cash equivalents at beginning: ₹14.82 lakh
  • Cash and cash equivalents at end: ₹12.73 lakh

Notes to Accounts

  • Financial results prepared in accordance with Indian Accounting Standards (Ind AS)
  • Company operates in single segment (paper)
  • Q4 figures are balancing figures between audited full year and unaudited year-to-date figures up to third quarter
  • Results available on company website www.malupaper.com

Management Commentary

  • Company reported EBITDA loss of ₹630.90 lakh and cash loss of ₹1,137.56 lakh for FY26 due to challenging market conditions and pressure on selling prices
  • Management undertook strategic realignment focusing on strengthening core business segments and improving product mix
  • Made targeted capital investments in fixed assets and process improvements to enhance brightness, quality, and operational efficiency
  • Initiatives resulted in securing prestigious tenders for supply of Writing and Printing Paper to Maharashtra State Board Textbook Publications and Gujarat State Board of School Textbooks
  • Q4 FY26 showed improvement with EBITDA profit of ₹469.04 lakh
  • Management expects net worth improvement in upcoming quarters due to turnaround in production strategies
  • Promoters committed to capital infusion as required
  • Company pursuing monetization of surplus land assets to strengthen balance sheet and improve liquidity

Cost Auditor Appointment

  • M/s. Deepak Khanuja & Associates, Cost Accountants appointed for FY 2026-27
  • Firm Address: 104, Mezzanine Floor, Above Tanishq Showroom, Shraddhannad Peth Square, Abhyankar nagar, Nagpur-440010
  • Appointment to comply with SEBI Listing Requirements and Companies Act, 2013