Hereby attached the reasons for the delay in financial results and Board meeting for the quarter ended 31/03/2026
Awaiting price reaction for this filing.
Mysore Paper Mills, a Government of Karnataka undertaking, has missed the May 15, 2026 deadline for submitting Q4 FY2025-26 results. The company cites a long history of accounting difficulties stemming from FY 2014-15 when statutory auditors refused to sign accounts citing 'not an ongoing concern' status, requiring a Letter of Comfort from the Karnataka government. This caused cascading delays in preparing accounts for subsequent years. The company ceased paper mill operations in October 2021 due to accumulated losses since 2009 and now only conducts forest plantation activities. Additionally, the CFO passed away during COVID-19 and the position has remained vacant. Results are being prepared through external consultant M/s Manian & Rao and will be filed as soon as the Board approves them.
This is a highly distressed company that has been non-operational for years and has a history of delayed regulatory filings. The delay in Q4 results reinforces ongoing governance and financial health concerns, and investors should be cautious given the company's sick status declared by BIFR.