Mysore Paper Mills Ltd

Delay in Q1 FY2026-27 results

• Delay in uploading Q1 FY2026-27 unaudited results to BSE beyond 15 Aug 2026.
• Going concern issues stem from prior auditors' disclaimer and BIFR status; opening balances uncertified.
• Operations halted since 2015-16 due to losses; forest plantation activities only from 2017.
• External consultants and current auditors engaged for subsequent accounting; Nil Comments certificate issued by CAG.
• CFO demise in first wave caused disruptions; no CFO since then.
• Results to be uploaded after board approval; will comply as expeditiously as possible.

Dematerialisation status and listing

• Securities for dematerialisation were confirmed to the depositories.
• Securities have been listed on the stock exchanges where the earlier issues are listed.
• Certificates received for dematerialisation were mutilated and cancelled after verification.
• Depositories' names substituted as registered owners in the register of members within 15 days.
• Status of dematerialisation requests (accepted/rejected) communicated to depositories.

Key decisions

• Un-Audited financial results for the quarter ended March 31, 2026 approved.
• Appointment of M/s Sharvari Kulkarni And Associates as Scrutinizer for the year 2016-17 approved.
• Appointment of M/s Sharvari Kulkarni and Associates as Secretarial Auditors for conducting Secretarial Audit for FY 2016-17 approved.
• Secretarial Auditor appointment subject to shareholders' approval for FY 2016-17.

Meeting reschedule

• Board meeting moved from 30 June 2026, 5:00 PM to 3:00 PM; agenda unchanged.

Board Meeting Update

• Board meeting time moved from 12:30 PM to 5:00 PM on 30 June 2026; agenda unchanged.
• The meeting will consider unaudited financial results for the quarter ended 31.03.2026.

Financial Results Approved

• Board approved unaudited financial results for quarter ended 31 December 2025
• Company reported loss before tax of Rs (2,046.27) lakhs for the quarter
• Total expenses for the quarter were Rs 2,459.17 lakhs
• Cost of material consumed was Rs 106.38 lakhs for the quarter
• Finance cost stood at Rs 2,151.87 lakhs for the quarter

Segment and Business Updates

• Company identified one reportable business segment: Paper/Afforestation
• Government of Karnataka decided to lease out mill operations due to continuous losses
• Forest division to continue operations under MPM Management Plan

Audit and Compliance

• Statutory auditors issued disclaimer of opinion for FY 2015-16 accounts
• Audit for period April 2016 to March 2025 is pending finalization
• Accounting policies from FY 2015-16 followed without adjustments for IND AS transition

Operational and Legal Matters

• Labour Department of Karnataka consented to mill closure on 28 June 2019
• Labour union challenged closure order in court
• Additional Chief Secretary permitted closure effective 22 October 2021
• Company paid closure compensation and statutory dues to majority of employees

Shareholding

• Promoter and promoter group hold approximately 35.26% shares
• Non-encumbered shares held by promoters are about 64.74%

Meeting Details

• Board meeting scheduled on 25th March 2026 at 3:00 p.m. at registered office, Bengaluru

Key Agenda Items

• Consider and take on record unaudited financial results for quarter ended 31 December 2025