Disclosure under Regulation 30 and 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('SEBI LODR Regulations')
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Subam Papers' Board approved unaudited standalone and consolidated results for H1FY26 (ended September 30, 2025). Consolidated revenue from operations rose to Rs. 29,740.82 lakhs (up from Rs. 26,987.54 lakhs in H1FY25), but profit after tax fell sharply to Rs. 1,308.02 lakhs (from Rs. 1,752.83 lakhs, a drop of about 25%). Standalone PAT also declined to Rs. 1,243.78 lakhs from Rs. 1,879.13 lakhs, indicating significant margin compression despite higher revenue. The Board approved a preferential issue of 26.32 lakh warrants and 44.10 lakh equity shares at Rs. 152 per share, aggregating Rs. 107.04 crore, with warrants going to promoters and promoter group and equity shares to 53 public investors. Authorised share capital was also increased from Rs. 25.05 crore to Rs. 32 crore. Auditor CNGSN & Associates LLP issued an unmodified limited review report. An EGM is fixed for December 10, 2025.
The 25-34% drop in profits despite revenue growth signals margin pressure, which is negative for near-term sentiment. However, the Rs. 107 crore preferential raise from promoters and marquee investors (such as Madhuri Kela) signals promoter confidence and provides growth capital, but existing shareholders face dilution of about 23.25% on a fully diluted basis.