Sangal Papers Ltd

Address rectification

• Board approved submission of CRF to RoC to correct clerical errors in Registered Office address; no physical relocation.

IT rectification order details

• Nature of order: Rectification under Section 154 of the IT Act, 1961.
• Demand: Rs 14,66,680 for AY 2025-26.
• Receipt date: 24/09/2026; issuing authority: CPC, Income Tax Department.
• Financial impact: maximum Rs 14,66,680.
• ITR type and dates: ITR6; due 31/10/2025; extended 10/12/2025; filing date 29/10/2025.
• Status: Public company, resident.
• Previous order: 143(1) intimation rectified; rectification request dated 09/09/2026.

Tanmay Sangal – Director re-appointment

• Tanmay Sangal re-appointed as Director by rotation at AGM on 23/09/2026.
• Relationship: Son of MD Himanshu Sangal; Profile: Post graduate in Management (Finance); international business experience.

Vinayak Sangal – Director re-appointment

• Vinayak Sangal re-appointed as Director by rotation at AGM on 23/09/2026.
• Relationship: Son of Amit Sangal, Whole Time Director and CFO; Profile: Mechanical Engineer; MBA in Operations.

Cost Auditor remuneration ratification

• Ratification of remuneration for Cost Auditor S. R. Kapur for FY ending 31 March 2027.
• Remuneration: ₹40,000 plus taxes; travel and out-of-pocket expenses.
• Reason: Board-approved cost audit; ratification of payment.
• Term: Financial year ending 31 March 2027.
• Profile: Cost Accountant; Membership No. M-4926.

AGM details

• Date and mode: 23 September 2026, 13:30, via VC/OAVM.
• End time: 14:04.
• Voting cut-off date: 16 September 2026.
• Remote e-voting window: 20–22 September 2026.

Key resolutions

• Resolution 1: Adopt audited standalone financial statements for year ended 31 March 2026.
• Resolution 2: Re-appoint Tanmay Sangal by rotation.
• Resolution 3: Re-appoint Vinayak Sangal by rotation.
• Resolution 4: Ratify remuneration of Cost Auditors.

Voting results

• Resolution 1: Passed with 99.9996% in favour.
• Resolution 2: Passed with 99.9996% in favour.
• Resolution 3: Passed with 99.9996% in favour.
• Resolution 4: Passed with 99.9996% in favour.

Directors

• Tanmay Sangal re-appointed by rotation.
• Vinayak Sangal re-appointed by rotation.

Auditors

• Remuneration of Cost Auditors ratified; ordinary resolution.

Re-appointment of Tanmay Sangal (Director)

• Tanmay Sangal re-appointed Director; rotation; AGM 23/09/2026; son of MD; PG in Finance with international business experience.

Re-appointment of Vinayak Sangal (Director)

• Vinayak Sangal re-appointed Director by rotation at AGM 23/09/2026; Mechanical Engineer, MBA; son of Amit Sangal.

Cost Auditor remuneration ratification

• Ratification of remuneration for Cost Auditor: S. R. Kapur; ₹40,000 for FY ending 31 Mar 2027.

Sangal Papers Ltd: Trading Window Closed from 1 October 2026 until the end of 48 hours after the declaration of Un-Audited Financial Results for the Quarter ended 30 September 2026.

Financials at a glance

• Revenue from operations declined 0.5% to ₹17,933.91 lakh in FY2025-26.
• Total income reported ₹18,018.90 lakh under IND AS.
• EBITDA ₹751.45 lakh; margins pressured by input costs.
• PAT ₹236.74 lakh; down 16.22% YoY.
• EPS ₹18.11; down from ₹21.62 in FY2024-25.

Capacity expansion and operations

• Installed 4.5 MW turbine in March 2026.
• Capacity expanded to 66,000 MT per annum from 33,000.
• One-month production shutdown during installation; benefits to flow FY2026-27.
• Capex incurred ~₹10.68 crore for modernization.

Markets and exports

• Single segment: paper manufacturing with domestic and export markets.
• Export earnings ₹2,024.00 lakh; up 31.98% YoY.
• Exports served Gulf, Europe, Asia and other markets.

Capital structure & liquidity

• Authorized capital ₹7.00 crore; paid-up equity ₹1.31 crore.
• Equity capital: 1,307,260 shares of ₹10 each.
• Cash and cash equivalents ₹198.15 lakh.
• Net debt to equity 62.96%; debt/equity 0.69x.
• Current ratio 1.50x.
• Non-current borrowings ₹1,299.83 lakh; current borrowings ₹1,840.36 lakh.

Dividend and corporate actions

• Dividend not recommended for FY2025-26.
• Managing Director Himanshu Sangal reappointed for 5 years to 31 Mar 2031.
• Amit Sangal reappointed as Whole-Time Director/CFO for 5 years to 31 Mar 2031.

Governance and audit

• Statutory auditors: Raj Viyom & Co.; Secretarial: D.K. Gupta & Co.
• Statutory audit: no qualifications; no fraud reported.
• BSE fines for delayed regulatory filings: ₹10,000 and ₹5,000; paid.
• Secretarial compliance reports filed; brief website restoration noted.

People, CSR and compliance

• 213 permanent employees as of 31 March 2026.
• Top ten employees include Tanmay Sangal and Vinayak Sangal at ₹42 lakh each.
• CSR not attracted; no CSR expenditure in 2025-26.
• Code of Conduct and Whistle-Blower policy in place.

Outlook and risks

• Expansion should drive higher output and better margins as markets stabilize.
• Energy efficiency and captive power reduce input costs.
• Risks include geopolitical volatility and currency fluctuations.
• Benefits of expansion expected to materialize in FY2026-27.

AGM Details

• 46th AGM on 23 Sept 2026 at 01:30 P.M. IST via VC/OAVM.

Ordinary Business

• Adopt Audited Standalone Financial Statements for year ended 31 Mar 2026.
• Re-appoint Tanmay Sangal (retiring by rotation).
• Re-appoint Vinayak Sangal (retiring by rotation).

Remuneration of Cost Auditor

• Ratify remuneration of 40,000 plus taxes and travel for FY2027 to S. R. Kapur.

Dividend

• No dividend is recommended for the current financial year.

Appointments & Re-appointments

• Directors seeking re-appointment: Tanmay Sangal, Vinayak Sangal.

Shareholder Timeline

• Cut-off date for e-voting: 16 Sept 2026.
• E-voting window: 20–22 Sept 2026.