Rama Paper Mills Ltd

Financial results approved

• Un-Audited standalone IND AS financial results for quarter ended 30 June 2026 approved; Limited Review Certificate obtained.

Auditor report and going concern

• Limited Review basis of qualified opinion; going concern due to accumulated losses and negative net worth.

Insolvency and IRP status

• NCLT appointed IRP on 7 June 2024; moratorium under IBC; IRP managing company.
• Fresh resolution plan received, approved by COC; pending NCLT approval; going concern depends on plan.

Compliance and asset disclosures

• MSME payables not bifurcated; MSME disclosures non-compliant.
• Inventory verification not carried out in specified periods; amounts uncertain.
• Kiratpur plant non-operational; insufficient evidence on assets/inventories.
• Interest on secured inter-corporate deposits not provided; cumulative Rs 1126.82 lakh.
• Trade payables not bifurcated; MSME act overdue interest not ascertainable.

Dividends and capital structure

• No dividends declared due to losses; redeemable preference shares reclassified as liabilities.

Business and segment disclosure

• Single primary business; only one reportable segment under Ind AS 108.

Meeting Details

• Date: 22 September 2026, 02:00 PM; Venue: Corporate Office, Delhi.

Key Agenda Items

• Approve un-audited financial results for quarter ended 30 June 2026 (standalone/consolidated not specified).

Other Notes

• Trading window closed for all directors/officers/designated employees with immediate effect, reopening 48 hours after results announcement.
• Company is under CIRP (Corporate Insolvency Resolution Process).

Financial performance

• Total income: 141.25 Lakhs; revenue from operations: 125.86 Lakhs in FY2025-26.
• Net loss after tax: (614.49) Lakhs; prior year: (1,644.36) Lakhs.
• EPS: basic/diluted at (6.36) Rs.
• Depreciation: 352.27 Lakhs; finance costs: nil this year vs 117.64 last year.
• Net cash from operating activities: (578.40) Lakhs; year-end cash balance: 415.13 Lakhs.
• Equity capital: 966.47 Lakhs; shares outstanding: 9,664,733.
• Net worth remains negative at (5,115.48) Lakhs; no dividend declared.

CIRP status and governance

• Corporate Insolvency Resolution Process (CIRP) initiated by NCLT on 7 June 2024; RP appointed.
• Board powers suspended; resolution professional governs company.
• NCLT order dated 07 Jan 2026 rejected CoC plan; fresh plans invited.
• Post-year developments include submission of a new resolution plan to NCLT.

Capital structure and liquidity

• Total borrowings: 5,140.37 Lakhs; current borrowings: 5,092.82 Lakhs; ICDs due 3,970.79.
• Undrawn borrowing facilities total: 5,140.37 Lakhs (Banks 47.55; Others 5,092.82).
• Equity capital: 966.47 Lakhs; negative net worth: (5,115.48) Lakhs.
• Dividends not declared; no transfer to reserves in 2025-26.

Audit & governance

• Auditors: Jagdish Chand & Co.; qualified opinion due to non-provision of ICD interest (Note 46.1/46.2).
• Secretarial audit flagged non-compliances: delayed filings, POSH committee, non-updated website.
• Corporate governance provisions not applicable; certificate of non-applicability filed.
• Directors' powers suspended; management under RP guidance.

Related party transactions

• Related party transactions disclosed; arm's length; details in Annexure A and Form AOC-2.
• Material RPTs include loans from Garnish Builders, and reimbursements to KMPs; aggregate amounts disclosed.

Customers and operations

• Geography: India; single reportable segment: Paper and Paper Products.
• Major customers: SP Enterprises 84.14; Shree Balaji Traders 34.68; Vaibhav Traders 1.52 Lakhs.

Going concern and risk

• Material uncertainty around going concern due to sustained losses and negative net worth.
• Going concern depends on approval of a new resolution plan by the NCLT and CoC.

Book closure for AGM

• Book closure from 23.09.2026 to 30.09.2026 (inclusive).
• Purpose: for the ensuing AGM.
• AGM date: 30.09.2026 at 5:00 PM via VC/OAVM.

AGM details

• 41st AGM on 30 September 2026 at 5:00 PM via VC/OAVM

Book closure

• Register of Members and transfer books closed 23 Sep–30 Sep 2026 (inclusive)

Annual report availability

• Annual Report for FY2025-26 sent electronically and available at ramapaper.com

Regulatory filing context

• Submission under Reg 34(1) of SEBI LODR Regulations; scrip code 500357

Financial results approved

• Audited Standalone IND AS results approved for quarter and year ended 31 March 2026.

Auditor remarks and qualifications

• Independent auditor's report issued with a qualified opinion on the results.
• Interest not provided on two secured intercompany deposits totaling ₹990.72 lakhs.
• Interest not provided on vehicle loan totaling ₹5.96 lakhs.
• No physical verification of PPE; inventories not verified (₹116.33 lakhs).
• Trade payables not bifurcated into MSMEs; MSME-1 not filed.
• Going concern uncertainty due to losses; negative net worth ₹5,115.48 lakhs.
• Going concern basis used for these results under IRP oversight.
• IRP CoC resolution plan approved 16 Apr 2025; set aside by NCLT 7 Jan 2026.
• Post-year-end, a new resolution plan submitted to NCLT for approval.

Regulatory and corporate actions

• Admitted to CIRP under IBC; IRP appointed by NCLT order dated 7 June 2024.
• Two secured creditors filed petitions under IBC Section 7; moratorium in effect.
• Board powers suspended; management now run by RP on going concern basis.

Financial position and liquidity

• Total assets ₹5,529.34L; total liabilities ₹10,644.82L.
• Net worth negative ₹5,115.48L.
• Net loss for quarter ₹140.92L; year ₹614.49L.
• Cash and cash equivalents ₹227.26L at end; cash flow from operations ₹(578.40)L.
• EPS basic/diluted: quarter ₹(1.46); year ₹(6.36).
• Single reportable segment: Manufacturing of Paper and related products.

Meeting Details

• Board meeting on 18 July 2026 at 05:00 PM at Corporate Office, Delhi.

Key Agenda Items

• Consider and approve Audited Financial Results for the quarter and year ended 31 March 2026.
• Any other matter as permitted by the Chair.

Other Notes

• Trading window closed for all directors/officers with immediate effect; opens 48 hours after 31 March 2026 results.

Rama Paper Mills Ltd: Trading window closed from July 01, 2026 until 48 hours after declaration of the financial results for the quarter ended June 30, 2026.

Meeting Details

• Board meeting scheduled for 30 May 2026 at 4:00 P.M. in Delhi.

Key Agenda Items

• Approve audited financial results for the quarter and year ended 31 March 2026.

Other Notes

• Trading window closed immediately and reopens 48 hours after results announcement.