Hereby attached the reasons for delay in financial results and Board Meeting for the quarter ended 31/03/2025
Awaiting price reaction for this filing.
Mysore Paper Mills Ltd, a Government of Karnataka undertaking, has informed BSE that it will not be able to upload its unaudited financial results for Q4 FY2024-25 (quarter ended 31 March 2025) within the 15 May 2025 deadline. The company has been facing prolonged delays in finalising its accounts — the 80th AGM for FY 2014-15 itself was held only in December 2021 after nearly 7 years of delay. Statutory auditors had previously flagged the company as 'not an ongoing concern', and BIFR had declared it a 'Sick' Company in 2012. Operations were suspended in 2015-16 due to cumulative losses and formally shut down in October 2021, with only forest plantation activities continuing since 2017. Accounts for FY 2015-16, 2016-17, and 2017-18 are still being prepared by external consultants (M/s. Manian & Rao) and audited by CAG-appointed statutory auditors (M/s. Vasan & Sampath). The earlier CFO passed away during the first Covid wave and the post remains vacant, further hampering timely reporting.
This is a deeply negative signal for shareholders — the company is essentially non-operational, years behind on financial reporting, classified as sick, and faces an uncertain going concern status. Stock liquidity is likely very thin, and investors should expect continued regulatory scrutiny, possible further trading restrictions, and no near-term operational revival.