AGIO PAPER & INDUSTRIES LTD.

Operates in the paper and paper products industry, historically running a paper factory at Bilaspur. That factory has been suspended since October 2010 due to pollution control issues, and the company has since disposed of substantially all of its plant and machinery. Revenue from operations is now negligible — Q2 FY26 was Rs 1.69 lakhs, Q3 FY26 was Rs 0.20 lakhs, and Q4 FY26 was Rs 0.44 lakhs, with total turnover for FY26 reported as NIL apart from other income of Rs 2.78 lakh. The company impaired 75% of its capital work-in-progress (Rs 1,627.54 lakhs) based on estimated recoverable value. The statutory auditor flagged material uncertainty about the ability to continue as a going concern, with the going-concern basis maintained on the strength of a comfort letter from a promoter group company confirming financial support. The net loss for FY26 was Rs 1,805.18 lakhs versus Rs 157.78 lakhs in FY25, and total equity has turned negative at Rs 1,661.38 lakhs. No dividend was declared for FY26, consistent with FY25.