Ballarpur Industries Limited has informed the Exchange regarding Appointment of Ms Viral Sanghvi & Associates as Other Secretarial Auditor of the company w.e.f. February 13, 2026 for term of 5 years subject to approval of members in AGM
Awaiting price reaction for this filing.
The board, at its meeting on February 13, 2026, approved unaudited financial results for several pending quarters: standalone and consolidated results for Q1FY26, Q2FY26, and Q3FY26 along with the nine months ended December 31, 2025. For Q3FY26 (standalone), revenue from operations was ₹1,076.56 lakhs and the company reported a net loss of ₹4,207.94 lakhs, taking the 9MFY26 loss to ₹9,709.99 lakhs versus a ₹6,675.70 lakh loss for FY25. The statutory auditor issued a qualified conclusion citing ongoing NSE/BSE penalties for delayed filings (matter sub-judice at NCLT) and flagged material uncertainty on going concern, noting that commercial production at the paper factory only restarted on December 1, 2025 under the new Finquest-led management. The board also appointed M/s Viral Sanghavi & Associates, Practicing Company Secretaries, as Secretarial Auditor for 5 years (FY26 to FY30), subject to shareholder approval at the upcoming AGM.
Shareholders should note the deeply negative financials and the auditor's qualified opinion highlight continued operational and compliance stress, though the recent restart of commercial production and fresh capital infusion from the resolution applicant provide a tentative turnaround path. The delayed result filings and unresolved penalty issue remain overhangs on the stock.