RAMA PAPER MILLS LTD.

Manufactures paper and paper products, but manufacturing operations have been suspended since Q1 FY26 and the company is under Corporate Insolvency Resolution Process since an NCLT Allahabad order dated June 7, 2024, following a petition by Amar Ujala Limited. Revenue in FY26 was Rs 125.85 lakhs, down 81% from Rs 665.13 lakhs in FY25, and comes only from sale of scrap and raw materials. In the last full year of manufacturing (FY24), revenue was Rs 56.6984 crore, with materials cost at 105.7% of revenue and employee cost at 14%. The Board of Directors' powers are suspended and an Insolvency Resolution Professional (Sandeep Kumar Agrawal) is managing the company. Two resolution applicants submitted plans, and the Poddar Global Private Limited plan was approved by the Committee of Creditors with 99.38% voting share and now awaits NCLT approval. The statutory auditor flagged going-concern uncertainty, citing negative net worth of Rs 5,115.48 lakhs, accumulated losses of Rs 7,249.26 lakhs, and current liabilities exceeding total assets by Rs 3,512.05 lakhs.