Intimation of appointment of Secretarial Auditor for term of 5 years subject to approval of Members in AGM
Awaiting price reaction for this filing.
Ballarpur Industries' board, meeting on February 13, 2026, approved unaudited financial results for multiple periods (Q1 FY26, Q2/H1 FY26, and Q3/9M FY26), both standalone and consolidated. The company appointed Viral Sanghavi & Associates as Secretarial Auditors for a 5-year term (FY 2025-26 to 2029-30), subject to shareholder approval at the upcoming AGM. For the quarter ended December 31, 2025 (standalone), the company reported total income of ₹1,094.83 lakhs but a net loss of ₹4,207.94 lakhs, translating to an EPS of ₹(7.65). For nine months FY26, cumulative net loss stood at ₹9,709.99 lakhs. The auditors flagged a qualified conclusion citing penalties from BSE/NSE for delayed filings (pending NCLT), ongoing going concern uncertainty, and unresolved IEPF transfer of ₹16.24 lakhs in unpaid dividends.
For shareholders, the appointment of a new Secretarial Auditor is routine and unlikely to move the stock. However, the deepening quarterly losses, the qualified auditor's report on delayed filings and going concern, and the fact that commercial production only began December 1, 2025 (post Finquest's acquisition via IBC) signal continued operational fragility. Investors should watch the pending NCLT relief application and the company's progress on reviving factory operations.