Ballarpur Industries Limited has informed the Exchange regarding Notice of 79TH Annual General Meeting to be held on May 11, 2026
Awaiting price reaction for this filing.
Ballarpur Industries Limited has called its 79th AGM on May 11, 2026 via video conferencing. The meeting will consider the Integrated Annual Report for FY 2023-24. The company, a paper manufacturer, is under new management after its resolution plan by Finquest Financial Solutions was approved by NCLT in March 2023 and implemented from June 12, 2023. The company reported consolidated revenue of Rs. 9 crore and a net loss of Rs. 330 crore for FY 2024, with finance costs of Rs. 136 crore. The new board notes significant limitations in financial reporting as historical statements for FY 2019-23 were not prepared by previous management, and several bank reconciliations and subsidiary audits remain incomplete.
Shareholders should note the company is in early recovery stages post-insolvency with ongoing losses and significant debt. The AGM provides an opportunity to review the resolution plan implementation and new management's turnaround strategy for the paper business.