Initimation of 79th AGM for the financial year 2023-24
Awaiting price reaction for this filing.
Ballarpur Industries Limited has issued notice for its 79th Annual General Meeting scheduled for May 11, 2026 at 1:00 PM via video conferencing mode. The meeting will be deemed held at the company's registered office in Mumbai. The AGM notice forms part of the Integrated Annual Report for FY 2023-24. The company, which emerged from Corporate Insolvency Resolution Process (CIRP) with Finquest Financial Solutions Private Limited (FFSPL) acquiring majority stake in June 2023, reported consolidated revenue of Rs. 9 crore and a net loss of Rs. 330 crore for FY 2024. The new board, led by Hardik Bharat Patel as Chairman and Whole-Time Director, is implementing revival strategies. Key concerns include incomplete bank reconciliations, unaudited subsidiary financials, and ongoing challenges in the paper manufacturing business.
Shareholders should note that the company continues to face significant financial challenges post-resolution plan, with heavy losses and incomplete financial records for certain periods. The AGM provides an opportunity for shareholders to review the turnaround progress and future plans.