Rama Paper Mills Ltd

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.

Resolution Applicants Update

• List of resolution applicants for Raama Paper Mills updated on 03.04.2026
• Applicants: Ujala Renewables LLP (Consortium) and Poddar Global Private Limited

🗓️ Meeting Details

• Board meeting scheduled for February 13, 2026, at 4:00 PM at Corporate Office, New Delhi.

📊 Financial Results

• Approval of unaudited financial results for the quarter ended December 31, 2025.

⚠️ Governance

• Meeting convened by Resolution Professional exercising Board powers under Insolvency and Bankruptcy Code.

Financial Performance

• Approved unaudited standalone financial results for Q2 and H1 FY2025-26 ended September 30, 2025.
• Net loss of ₹166.27 lakhs for Q2 and ₹311.38 lakhs for H1 FY2025-26.
• Accumulated losses of ₹6,946.15 lakhs and negative net worth of ₹4,812.37 lakhs as of September 30, 2025.
• Current liabilities exceeded total assets by ₹3,200.54 lakhs as of September 30, 2025.
• Redeemable 14% non-cumulative non-convertible preference shares of ₹500 lakhs reclassified as financial liabilities.

Board and Corporate Actions

• Board under suspension; Insolvency Resolution Professional appointed June 7, 2024, managing company affairs.
• Committee of Creditors approved resolution plan on April 16, 2025; pending NCLT approval.
• Manufacturing operations suspended during Q1 FY2025-26; revenue from scrap/raw material sales.

Auditor Remarks and Material Uncertainties ️

• Statutory auditor issued unmodified limited review report with qualified opinion due to non-provision of interest ₹137.60 lakhs (Q2) and ₹273.70 lakhs (H1).
• No physical verification of inventory during April-September 2025; amount unascertainable.
• Non-compliance with MSME disclosure requirements; trade payables not bifurcated.
• Material uncertainty on going concern due to accumulated losses, negative net worth, and excess liabilities.
• Financial results prepared on going concern basis pending NCLT approval of resolution plan.

Other Financial Statements Approved

• Approved unaudited standalone statement of assets and liabilities as of September 30, 2025.
• Approved unaudited standalone cash flow statement for half year ended September 30, 2025.

Regulatory and Compliance

• Insolvency proceedings ongoing under IBC; IRP managing company affairs.
• No interest provided on certain secured deposits post IRP appointment date.
• Company failed to comply with MSME disclosure norms under MSMED Act, 2006.