Outcome of the Board Meeting held on 14th November 2025.
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The Board of Directors of Ganga Papers India Ltd approved the unaudited financial results for the quarter and half year ended September 30, 2025, along with an unqualified limited review report by statutory auditors RAM K RAJ & Associates. For H1 FY26, total revenue rose to Rs. 13,300.66 lakhs from Rs. 12,311.26 lakhs in H1 FY25 (~8% growth), while Q2 FY26 revenue grew approximately 23% YoY. Profit after tax declined slightly to Rs. 61.33 lakhs (vs Rs. 65.33 lakhs in H1 FY25), with EPS falling to Rs. 0.567 from Rs. 0.61. A major red flag is the sharply negative operating cash flow of Rs. (300.15) lakhs in H1 FY26 versus a positive Rs. 213.81 lakhs in H1 FY25, driven by rising inventories and receivables.
Mixed picture for shareholders: revenue momentum is positive (especially in Q2), but profitability is slipping and the company burned cash from core operations during the half year. With total borrowings of ~Rs. 4,057 lakhs against equity of ~Rs. 3,127 lakhs (D/E around 1.30), leverage remains elevated and may weigh on sentiment despite the topline growth.