Financial Results for Quarter Ended June 30, 2026 (Q1 FY27)

The Board approved the unaudited financial results for the quarter ended June 30, 2026. All figures are in ₹ Lakhs.

Key Financial Figures:

  • Revenue from operations: ₹36,181.47 Lakhs (₹361.81 crore)
  • Other income: ₹1,105.75 Lakhs
  • Total Income: ₹37,287.22 Lakhs
  • Total Expenses: ₹34,375.22 Lakhs
  • Profit before tax & exceptional items: ₹2,912.00 Lakhs
  • Exceptional Items: Nil for the current quarter (Previous quarter included ₹667.25 Lakhs for statutory impact of new Labour Codes)
  • Profit before tax: ₹2,912.00 Lakhs
  • Tax expense: ₹4,624.00 Lakhs, comprising:
  • Current tax: ₹690.87 Lakhs
  • Deferred tax: ₹3,933.13 Lakhs (charge)
  • Profit/ (loss) for the period: (₹1,712.00) Lakhs (Net Loss of ₹17.12 crore)
  • Earnings per share (of ₹1 each):
  • Basic: (₹1.71)
  • Diluted: (₹1.71)
  • Paid-up equity share capital: ₹1,000 Lakhs (10 crore shares of ₹1 each)

Segment-Wise Performance (Q1 FY27):

  • Paper Segment:
  • Revenue: ₹36,136.50 Lakhs
  • Profit before Interest and Tax: ₹3,196.58 Lakhs
  • Agriculture Segment:
  • Revenue: ₹44.97 Lakhs
  • Profit before Interest and Tax: ₹83.29 Lakhs

Other Board Approvals

1. Appointment of Cost Auditor: The Board approved the appointment of M/s Balwinder & Associates, Cost Accountants, Mohali, as Cost Auditor for the Financial Year 2026-27. The appointment is subject to shareholder ratification for the payment of remuneration. The firm's profile was provided, noting it serves PSUs, MNCs, and listed companies. There is no disclosed relationship between any director and the appointed firm.

2. 45th Annual General Meeting (AGM): The 45th AGM of the company will be held on Wednesday, September 30, 2026, at the Registered Office (VPO: Rupana, Malout-Muktsar Road, Distt: Sri Muktsar Sahib).

3. Closure of Register of Members & Record Date:

  • The Register of Members and Share Transfer Books will remain closed from September 24, 2026, to September 30, 2026 (both days inclusive).
  • The record date for determining members entitled to dividend (if declared) and for reckoning voting rights for the AGM is Wednesday, September 23, 2026.

Notes to Financial Results

  • Note 7 (Labour Codes): The previous year included an exceptional item of ₹667.25 Lakhs related to the statutory impact of newly notified Labour Codes.
  • Note 9 (Tax Regime Change): The company opted for the concessional tax regime under Section 200 of the Income-tax Act, 2025 (effective tax rate 25.168%) from FY 2026-27. Consequently, it will no longer claim deductions under Section 80-IA. This transition resulted in a one-time, non-cash deferred tax charge of ₹3,933.13 Lakhs in the current quarter, significantly impacting PAT. This does not represent a cash outflow.
  • Note 10 (Operational Update): The company has undertaken a planned shutdown of Paper Machine 3 effective June 1, 2026. The shutdown is expected to last approximately 5 months for comprehensive refurbishment and modernization, aimed at achieving higher machine speed, improved production capacity, and enhanced operational efficiency. This will result in a temporary loss of production.
  • Segment Reporting: The Cogeneration Division is no longer reported as a separate segment as it is an integral captive utility with no external sales, following the change in tax regime.
  • The financial results were reviewed by the statutory auditors, N Kumar Chhabra and Co., Chartered Accountants, who issued an unmodified review conclusion.