Audited Financial Results for the Quarter IV and Financial Year ended 31.03.2026
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Ganga Papers India reported FY2026 revenue of Rs 2,802.36 lakh, up 8.75% from Rs 2,576.91 lakh in FY2025. PAT grew modestly to Rs 159.87 lakh from Rs 155.27 lakh, a 2.96% increase. EBITDA declined from Rs 608.50 lakh to Rs 528.03 lakh, with EBITDA margin compressing from 2.36% to 1.88%. Operating cash flow turned sharply negative at Rs -191.86 lakh versus +Rs 1,009.41 lakh in the prior year, driven by a large Rs 780.29 lakh inventory build-up and Rs 504.30 lakh rise in trade receivables. Total borrowings increased to Rs 4,431.36 lakh from Rs 3,548.48 lakh. The auditors issued an unmodified opinion confirming clean financials. Related party loans of Rs 350 lakh were drawn during the year.
Revenue growth is modest at under 9% and EBITDA margin compression signals cost or pricing pressure. The sharp turnaround in operating cash flow from positive to negative is a concern, though partially offset by new related party funding. The clean audit opinion and modest debt-to-equity of 0.26x provide some comfort.