Ballarpur Industries Limited has scheduled its 81st Annual General Meeting for September 25, 2026, at 11:30 a.m. via video conferencing. The meeting marks a key milestone in the company's post-insolvency revival, with shareholders approving financials that reflect resumed commercial operations.

The virtual AGM will be deemed held at the registered office in Mumbai. The book closure period runs from September 18, 2026 to September 25, 2026. Shareholders on record as of September 18, 2026 are eligible to vote. The company has also reminded members to update KYC details and dematerialise physical securities in line with SEBI Master Circular No. SEBI/HO/MIRSD/POD-1/P/CIR/2024/37 dated May 7, 2024.

AGM Agenda and Corporate Actions

The following items are proposed for consideration:

• Adoption of audited standalone and consolidated financial statements for FY26
• Re-appointment of Mr. Parashiva Murthy B S (DIN: 00011584) as Non-Executive Director
• Approval of sale/disposal of non-core assets including land parcels in Telangana, Odisha, Gujarat, and Haryana
• Approval of material related party transactions with Mr. Hardik Bharat Patel up to ₹200 crore
• Approval of material related party transactions with Finquest Financial Solutions Private Limited up to ₹50 crore
• Ratification of remuneration of ₹11,000 to M/s Bahadur Murao & Co., Cost Auditors, for FY27

Operational Revival and Financial Performance

Commercial production resumed on December 1, 2025, following the NCLT-approved resolution plan. Finquest Financial Solutions Private Limited acquired majority shareholding on June 12, 2023.

Consolidated performance for FY26 shows a sharp rise in revenue but a widening loss due to initial operational costs:

Standalone revenue from operations rose to ₹7,697.08 lakh in FY26 from ₹1,857.96 lakh in FY25. The standalone loss after tax stood at ₹13,446.75 lakh in FY26 compared to ₹6,675.70 lakh in FY25. No dividend was recommended.

Key Financial Ratios

Significant changes in key ratios for FY26 compared to FY25 are noted below:

Higher operating costs during the initial phase of operations contributed to significant fluctuations in these ratios.

Board Composition and Governance

As on March 31, 2026, the Board comprised Mr. Hardik Bharat Patel as Chairman & Whole Time Director, Mr. Alok Prakash as Whole Time Director & CEO, Mr. Parashiva Murthy B S as Non-Executive Director, and three Non-Executive Independent Directors including Ms. Shweta Jain. The Board met seven times during FY26.

Statutory auditors M/s Batliboi & Purohit issued a qualified opinion on standalone financials and a disclaimer on consolidated financials for FY26. The secretarial audit report by M/s Viral Sanghavi & Associates contained no qualifications.

Workforce and Human Resources

The company had 794 employees as on March 31, 2026, all deployed at the Shree Gopal Unit in Yamunanagar, Haryana. The breakdown is as follows:

Median remuneration reduced by 21.61% in FY26 compared to FY25. No increase was made to directors, CFO, or company secretary.

Ballarpur Industries Limited has corrected the face value of the Non-Convertible Debentures (NCDs) approved by its board on July 14, 2026. The company clarified that the face value is ₹1 lakh per NCD, not ₹1 crore as previously stated, while the total issue size remains ₹100 crore. The issuance of 10,000 listed, rated, unsecured NCDs on a private placement basis was approved during the meeting held on July 14, 2026.

Revised NCD Issue Details

The corrigendum rectifies the specific details regarding the instrument's structure. The aggregate issue size of ₹100 crore is unchanged, but it will now be achieved through a higher volume of smaller denomination debentures. The debentures will be issued in one or more tranches and listed on BSE Limited and/or National Stock Exchange of India Limited.

Regulatory Context

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The correction addresses an inadvertent error in the prior intimation dated July 9, 2026, and the subsequent disclosure on July 14, 2026. Hardik Bharat Patel, Chairman & Whole Time Director, signed the regulatory filing confirming the revised figures.