Intimation of 80th AGM and notice
Awaiting price reaction for this filing.
Ballarpur Industries Limited has convened its 80th Annual General Meeting on May 11, 2026 via video conferencing. The company, a paper manufacturer, is still in recovery mode following completion of its Corporate Insolvency Resolution Process (CIRP) — Finquest Financial Solutions Private Limited (FFSPL) took control in June 2023 after NCLT approved the resolution plan in March 2023. Consolidated revenue from operations grew to Rs 18.61 crore in FY 2025 from Rs 9.18 crore in FY 2024, while the consolidated net loss narrowed significantly to Rs 246.92 crore from Rs 329.08 crore. The company operates its specialty paper business through the Shree Gopal unit in Haryana (85,000 MT capacity) and has one Indian subsidiary and five foreign subsidiaries. Statutory auditors M/s Batliboi & Purohit have issued a disclaimer of opinion on consolidated financial statements. The new board under Chairman Hardik Bharat Patel is focused on stabilizing operations and implementing governance frameworks.
Shareholders should note that while the company is emerging from insolvency and revenue is growing, significant losses persist. The AGM provides an opportunity to assess management's revival strategy. The disclaimer of opinion by auditors highlights ongoing material uncertainty in financial reporting.