Bengal & Assam Company Limited has confirmed that it, along with persons acting in concert, did not create any encumbrance on the shares of JK Paper Ltd during the financial year 2025-26. The declaration, submitted under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011, was filed on April 7, 2026. This disclosure serves to assure the market regarding the status of the promoter's holdings in the target company.

The filing was made to BSE Limited and the National Stock Exchange of India Ltd. It covers the promoter and the entire promoter group of JK Paper Ltd. Bengal & Assam Company Ltd stated that it has been duly authorized to submit this declaration on behalf of all other constituents of the promoter group. The document was signed by Dillip Kumar Swain, the Company Secretary & Compliance Officer of Bengal & Assam Company Ltd.

Promoter Group Details

The declaration encompasses a comprehensive list of 49 entities and individuals classified under the promoter and promoter group categories. The list includes various companies within the JK Group, such as JK Tyre & Industries Limited and JK Lakshmi Cement Limited, as well as individual family members including Sh. Bharat Hari Singhania and Dr. Raghupati Singhania.

The following table outlines the structure of the promoter group as provided in the filing:

The confirmation of no encumbrance provides transparency regarding the leverage-free status of the promoter's shareholding during the specified financial year.

JK Paper Limited's Board of Directors approved the audited standalone and consolidated financial results for the quarter and financial year ended 31st March 2026. The Board recommended a final dividend of ₹4.00 per equity share (40%) on 18,13,18,771 equity shares of ₹10 each for FY26, amounting to ₹72.53 Crore, subject to shareholder approval. The company achieved its highest ever Paper and Board sale of 8.19 Lac MT during FY 2025-26. The auditors' reports carry an unmodified opinion on both standalone and consolidated financial results.

Standalone Financial Performance

On a standalone basis, JK Paper reported a net profit of ₹82.56 Crore for Q4 FY26, compared to ₹73.98 Crore in the corresponding quarter of the previous year. For the full year FY26, standalone net profit stood at ₹241.02 Crore, a decrease from ₹369.89 Crore in the restated FY25. Revenue from operations (net) for FY26 was ₹6,631.70 Crore versus ₹6,609.44 Crore in the restated prior year. The company noted that higher volumes and improved operational efficiencies contributed to better performance in Q4 FY26, while the sharp depreciation of the Indian Rupee against the Euro adversely impacted net profit for the year.

Consolidated Financial Performance

On a consolidated basis, JK Paper recorded Q4 turnover of ₹2,111.54 Crore, with EBITDA of ₹279.07 Crore and Profit after Tax (PAT) attributable to owners of ₹91.98 Crore. For the full year FY26, consolidated turnover stood at ₹7,568.93 Crore, up 7%, with EBITDA of ₹984.11 Crore and PAT of ₹265.84 Crore, compared to ₹408.79 Crore in the restated FY25. Consolidated revenue from operations (net) for FY26 was ₹7,076.03 Crore versus ₹6,662.49 Crore in the restated prior year. Consolidated total assets as at 31st March 2026 stood at ₹10,538.25 Crore. The consolidated assessed incremental impact towards retiral obligations under the New Labour Codes is ₹16.30 Crore for the year ended 31st March 2026, disclosed as an Exceptional Item.

Key Corporate Developments

Several significant developments marked the year. The Composite Scheme of Arrangement sanctioned by the NCLT became effective from 15th March 2026, pursuant to which the company issued and allotted 1,19,16,427 equity shares on 20th March 2026. Consequently, The Sirpur Paper Mills Ltd has become a Wholly Owned Subsidiary of JK Paper Ltd., and three packaging conversion companies have been amalgamated. The commissioning of the Hardwood Bleach Chemical Thermo-Mechanical Pulp (BCTMP) Plant at Unit CPM, Gujarat, is at an advanced stage, with commercial production expected from the first quarter of FY 2026-27. On a standalone basis, the company assessed an incremental impact of ₹13.60 Crore towards retiral obligations due to New Labour Codes, disclosed as an Exceptional Item.