[Asgard Alcobev Limited](asgard alcobev) reported a net profit of ₹56.34 lakh for the financial year ended March 31, 2026, compared to a loss of ₹15.58 lakh in the previous year. The turnaround was primarily driven by exceptional income of ₹101.88 lakh recognized from the sale of its subsidiary, Banganga Paper Mills Ltd. The Board of Directors approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, at a meeting held on May 30, 2026.

The company's consolidated revenue from operations for FY26 stood at ₹10,150.68 lakh, a significant increase from ₹5,809.63 lakh in FY25, reflecting the inclusion of operations from newly acquired subsidiary CMJ Breweries Private Limited. The consolidated net profit for the year was ₹148.95 lakh, down from ₹188.28 lakh in the previous year, impacted by an exceptional loss of ₹178.43 lakh on the disposal of the material subsidiary. The statutory auditors, M/s. Batliboi & Purohit, issued an unmodified opinion on the financial results.

Key Financial Highlights

Corporate Governance Appointments

Based on the recommendations of the Audit Committee, the Board approved the appointment of M/s. N C Karnany & Co as the Internal Auditor for the financial year 2026-27. Additionally, Mrs. Kalpana Srinivasan was appointed as the Secretarial Auditor for a term of five financial years starting from FY 2026-27 to 2030-31, subject to shareholder approval at the ensuing Annual General Meeting. The trading window for designated persons, which had been closed since April 01, 2026, will reopen 48 hours after the financial results are made public.

Asgard Alcobev Limited (formerly known as Banganga Paper Industries Limited) has intimated BSE Limited of the receipt of reclassification requests from three members of its Promoter & Promoter Group, seeking to move to the Public shareholder category. The intimation, filed in compliance with Regulation 31A(8)(a) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is dated May 5, 2026.

Promoters Seeking Reclassification

The company received requests via email on May 5, 2026, from the following three promoters. All three individuals hold nil equity shares in the company as of the date of their respective letters, as detailed below:

Grounds for Reclassification

Each of the three promoters has individually confirmed, in their respective request letters addressed to the Board of Directors, that they are not directly or indirectly associated with the business of the company and do not exercise any influence over its business and policy decisions. They have further stated that they are not involved in the day-to-day activities of the company and do not exercise control over its affairs.

In their reclassification requests, each promoter has certified the following conditions:

• Do not, together, hold more than 10% of the total voting rights in the company
• Do not exercise control over the affairs of the company, directly or indirectly
• Do not have any special rights with respect to the company through formal or informal arrangements, including through any shareholder agreements
• Are not represented on the Board of Directors of the company, including through a nominee director
• Are not acting as a key managerial person in the company
• Are not classified as "willful defaulters" as per Reserve Bank of India guidelines
• Are not fugitive economic offenders
• There is no pending regulatory action against them

Regulatory Compliance Commitments

Each promoter has also committed to continue complying with the conditions mentioned at sub-clauses (i), (ii), and (iii) of clause (b) of Regulation 31A(3) of the SEBI LODR Regulations at all times from the date of reclassification. Additionally, they have committed to comply with the conditions mentioned at sub-clauses (iv) and (v) of clause (b) of Regulation 31A(3) for a period of not less than three years from the date of reclassification. Non-compliance with these conditions would result in reclassification back to the Promoter or Promoter Group category.

Approval Process

The reclassification requests are subject to analysis by the Board of Directors of the company. Final approval is contingent upon the consent of BSE Limited, along with all other approvals, confirmations, and consents as specified under the provisions of Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was signed by Ronak Jain, Managing Director (DIN: 00534143), on behalf of Asgard Alcobev Limited.