Banganga Paper Industries Ltd

AGM details

• Date and time: 30 September 2026 at 01:00 PM (IST).
• Mode: VC/OAVM; physical attendance not required.
• Meeting concluded at 01:34 PM (IST).
• Remote e-voting: 27–29 September 2026.

Resolutions placed

• Adopt Audited Financial Statements for year ended 31 March 2026.
• Reappointment of Swaminathan Muralidharan as Director on rotation.
• Appointment of ADV & Associates as Statutory Auditor.
• Appointment of Kalpana Srinivasan as Secretarial Auditor.
• Remuneration to Executive Director and CFO (special).
• Remuneration to Swaminathan Muralidharan (Executive Director) (special).
• Approval under Section 186(3) for investment in CMJ Breweries via ICD conversion.

Voting results

• Results to be announced within prescribed timeline.
• Final results for all resolutions pending disclosure.

Directors changes

• Reappointment of Swaminathan Muralidharan as Director on rotation.

Auditors

• Statutory Auditor: ADV & Associates appointed.
• Secretarial Auditor: Kalpana Srinivasan appointed.

Other material approvals

• Investment in CMJ Breweries via conversion of inter-corporate deposit.

Asgard Alcobev Ltd: Trading Window to remain closed from Thursday, October 1, 2026 till the end of 48 hours after the declaration of the unaudited Financial Results of the Company for the Second quarter ended on September 30, 2026.

Registered office change

• Previous registered office: Sr. No.186, Gavalwadi Road, Ashewadi, Ramshej, Nashik, Maharashtra, 422003.
• New registered office: CMJ House, Ferndale Complex, Block III, Keating Road, Shillong G.P.O., East Khasi Hills, Meghalaya, 793001.
• Effective date: Regional Director order dated 27 May 2026; registered 7 Sept 2026.
• Change involves move to a different state and ROC (Maharashtra to Meghalaya; Mumbai II to Guwahati).
• Reason: Special resolution altering MOA to shift the registered office to Meghalaya.
• Approvals: Special resolution; ROC Regional Director order dated 27 May 2026.
• Impact: relocation of registered office with no stated effect on operations or investor correspondence.

FY2025-26 snapshot

• Consolidated revenue ₹101.51 crore; up 75% YoY.
• PAT consolidated ₹1.49 crore; transition costs affected.
• EBITDA ₹7.0 crore; margin 6.9%.
• EPS ₹0.10; diluted ₹0.10.
• Net worth ₹49.85 crore; total assets ₹202 crore.
• Cash from operations ₹4 crore; positive cash flow.
• CMJ acquisition completed; 78.90% stake; consolidation from 17 Feb 2026.
• Banganga Paper Mills disposal for ₹11.22 crore; name change.
• Golden Eagle contract: 3 years; eight states and Bhutan.

Strategy & platform

• Bev segment is now sole focus after paper exit; CMJ platform anchors growth.
• Contract manufacturing model; demand risk borne by brand owners.
• Own-brand portfolio of seven labels; margin leverage on owned products.

M&A & contracts

• CMJ acquisition completed; 78.90% stake.
• Banganga Paper Mills disposed; ₹11.22 crore proceeds.
• Golden Eagle contract extends to 2029; multi-state coverage.

Capital & liquidity

• Share capital ₹31.15 crore; 31,15,32,917 shares.
• 20 crore convertible warrants issued; 25% upfront received.
• Borrowings ₹72.55 crore; debt‑to‑equity 1.42x.

Governance & oversight

• Thirteen Board meetings; two separate Independent Directors’ meetings.
• ADV & Associates appointed as Statutory Auditors; Kalpana Srinivasan as Secretarial Auditor.
• 42nd AGM scheduled 30 Sept 2026 via VC/OAVM with e-voting.

ESG & people

• ESG focus: water stewardship, energy efficiency, waste management.
• 400+ employees; Byrnihat facility with ~140 staff.
• POSH policy in place; NIL complaints in 2025-26.

Outlook & risks

• Outlook: accelerate capacity utilization; convert headroom to volume.
• Risks: customer concentration; single-site; regulatory shifts; input cost inflation.
• Expansion optionality: reach 900k–1.5m HL on contracted demand.

AGM Details

• AGM date/time/mode: 30 Sep 2026 at 1:00 PM, via VC/OAVM.

Resolutions proposed

• Adopt audited standalone and consolidated financial statements for year ended 31 March 2026.
• Reappoint Swaminathan Muralidharan as Director by rotation.
• Appoint ADV & Associates as Statutory Auditors for five years.
• Appoint Kalpana Srinivasan as Secretarial Auditor for five years.
• Remuneration of Rs 2,00,000 per month to Binit Singhania as ED and CFO.
• Remuneration to Swaminathan Muralidharan as Executive Director; subject to Act.
• Approve investment in CMJ Breweries Private Limited via ICD conversion up to Rs 21 crore.

Dividend

• Dividend: no dividend proposed or approved.

Directors

• Swaminathan Muralidharan to be reappointed as Director.

Auditors

• Statutory Auditor: ADV & Associates; Secretarial Auditor: Kalpana Srinivasan.

Related party transactions

• ICD conversion with CMJ Breweries Private Limited; no cash outflow; up to Rs 21 crore.

Secretarial Auditor Appointment

• Appointment of Kalpana Srinivasan, Practising Company Secretary, as Secretarial Auditor for FY2025-26.
• Effective w.e.f. August 22, 2026 to fill casual vacancy from Ritika Agarwal.
• Term: FY2025-26 up to the ensuing AGM.
• Reason: to fill casual vacancy due to Ritika Agarwal's resignation.
• Profile: Associate member of ICSI; Membership A6105; COP 19503; experience in corporate laws.
• Disclosure: No relationships with other directors.

Secretarial Auditor resignation

• Resignation of Ritika Agarwal, Practicing Company Secretary, as Secretarial Auditor.
• Effective 21 August 2026; cessation from secretarial auditor role.
• Reason: resignation; no longer associated as the secretarial auditor.
• Brief profile: Practicing Company Secretary.
• Disclosure of relationships with directors: NA.

Standalone results

• Standalone Q1 FY27: Total income ₹41.87 lakh; PAT ₹12.12 lakh; EPS ₹0.004.

Consolidated results

• Consolidated Q1 FY27: revenue from operations ₹5,303.83 lakh; total income ₹5,328.24 lakh.
• PAT attributable to owners ₹200.45 lakh; total comprehensive income ₹254.05 lakh.
• Consolidated EPS: Basic ₹0.082; Diluted ₹0.028.
• Exceptional item: disposal of Banganga Paper Mills Ltd; ₹178.43 lakh loss recognized.
• Dividend: Board did not recommend any dividend for Q1 2026.