Board Meeting Details

The Board of Directors meeting was held on 13th November 2026, commencing at 12:00 PM and concluding at 1:05 PM.

Key Approvals

1. Unaudited Financial Results: Approved the un-audited financial results of the company for the quarter and half year ended 30th September 2026 along with the Limited Review Report.

2. Committee Reconstitution: Reconstituted the Stakeholders Relationship Committee by adding Mr. Deepan Garg (Co-Chairman and Director Technical) as member of the Committee with effect from 13.11.2026.

Financial Results Analysis (Quarter Ended 30.09.2026)

Income Statement Highlights (₹ in lakhs):

  • Revenue from Operations: ₹19,146.25 (14.9% increase from ₹16,667.96 in Q2 FY26)
  • Other Income: ₹145.38 (10.3% increase from ₹131.87 in Q2 FY26)
  • Total Income: ₹19,291.63 (14.9% increase from ₹16,799.83 in Q2 FY26)
  • Cost of materials consumed: ₹14,686.02 (31.5% increase from ₹11,169.31 in Q2 FY26)
  • Employee benefits expense: ₹1,678.41 (11.4% increase from ₹1,506.79 in Q2 FY26)
  • Finance Costs: ₹348.77 (347% increase from ₹78.12 in Q2 FY26)
  • Depreciation: ₹553.18 (32.7% increase from ₹416.78 in Q2 FY26)
  • Profit Before Tax: ₹453.74 (78.5% decrease from ₹2,107.01 in Q2 FY26)
  • Tax Expense: ₹125.67 (Current Tax: ₹51.38, Deferred Tax: ₹74.29)
  • Net Profit: ₹328.07 (79.0% decrease from ₹1,559.50 in Q2 FY26)
  • Basic & Diluted EPS: ₹1.10 (79.0% decrease from ₹5.23 in Q2 FY26)

Half Year Performance (April-September 2026 vs April-September 2025):

  • Total Income: ₹36,942.17 (9.5% increase from ₹33,741.76)
  • Profit Before Tax: ₹1,275.75 (70.8% decrease from ₹4,375.11)
  • Net Profit: ₹942.48 (71.1% decrease from ₹3,257.50)
  • Basic & Diluted EPS: ₹3.16 (71.1% decrease from ₹10.92)

Balance Sheet Position (as at 30.09.2026)

  • Total Assets: ₹77,374.26 lakhs (compared to ₹76,374.14 lakhs as at 31.03.2026)
  • Non-Current Assets: ₹55,801.96 lakhs (Property, Plant and Equipment: ₹42,232.26 lakhs)
  • Current Assets: ₹21,572.30 lakhs (Inventories: ₹11,896.67 lakhs, Trade Receivables: ₹9,031.34 lakhs)
  • Equity: ₹50,407.43 lakhs (Equity Share Capital: ₹2,984.50 lakhs, Other Equity: ₹47,422.93 lakhs)
  • Non-Current Liabilities: ₹13,397.30 lakhs (Financial Borrowings: ₹8,608.52 lakhs)
  • Current Liabilities: ₹13,569.53 lakhs (Borrowings: ₹8,811.42 lakhs)

Cash Flow Statement (Half Year Ended 30.09.2026)

  • Net Cash from Operating Activities: ₹2,475.04 lakhs
  • Net Cash Used in Investing Activities: ₹(936.14) lakhs
  • Net Cash Used in Financing Activities: ₹(1,557.10) lakhs
  • Net Decrease in Cash & Cash Equivalents: ₹(18.20) lakhs
  • Cash & Cash Equivalents at end of period: ₹41.83 lakhs (compared to ₹60.03 lakhs at beginning)

Audit and Compliance

  • The financial results were reviewed by the Audit Committee and approved by the Board of Directors on 13th November 2026.
  • Moudgil & Co., Chartered Accountants (Firm Registration No: 000741N) conducted a limited review and issued an unmodified review report confirming compliance with Ind AS and SEBI Listing Regulations.
  • The company operates in a single business segment of Paper with no separate reportable segments.

Capital Structure

  • Paid-up equity share capital remains unchanged at ₹2,984.50 lakhs (Face Value: ₹10 per share)
  • No change in share capital during the period