Binny Mills Limited has announced the outcome of its Board of Directors meeting held on May 22, 2026. The Board approved the audited financial results for the quarter and year ended March 31, 2026, and appointed an internal auditor for the financial year 2026-2027. The meeting was conducted via video conferencing.

Financial Performance

For the financial year ended March 31, 2026, Binny Mills reported a net loss of Rs 1,942.66 lakh, compared to a net loss of Rs 1,270.55 lakh in the previous year. Total income for the year increased to Rs 958.85 lakh from Rs 723.78 lakh in FY25. However, total expenses rose significantly to Rs 2,686.26 lakh, primarily driven by finance costs of Rs 1,889.64 lakh.

For the quarter ended March 31, 2026, the company reported a net loss of Rs 1,097.43 lakh. Total income for the quarter stood at Rs 433.12 lakh, while total expenses were Rs 1,354.48 lakh.

Internal Auditor Appointment

The Board appointed M/s T Balaji and Associates, Chartered Accountants, as the internal auditor for FY 2026-2027. The firm, located in Chennai, brings approximately 16 years of experience in internal audit, statutory audit, and tax audit. The appointment is effective from May 22, 2026.

Auditor's Report

Ramesh and Ramachandran, Chartered Accountants, audited the financial statements. The report includes an emphasis of matter regarding loans granted to a related party and provisions made for litigations. The auditors noted that the company has adequate internal financial controls over financial reporting that were operating effectively as of March 31, 2026.

Binny Mills Limited has submitted its secretarial compliance report for the financial year ended March 31, 2026. Prepared by Elangovan & Associates, Practising Company Secretaries, the report examines the company's adherence to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR), and other relevant guidelines.

The certification confirms that Binny Mills has complied with applicable Secretarial Standards issued by the Institute of Company Secretaries of India (ICSI). All policies required under SEBI Regulations have been adopted by the Board of Directors and updated in conformity with regulatory guidelines. The company maintains a functional website with timely dissemination of required information.

Regulatory Actions and Shareholder Matters

During the review period, the BSE took specific actions regarding the company's status. The stock exchange revoked the suspension in trading of equity shares with effect from July 17, 2025, via notice No. 20250709-10 dated July 9, 2025. Additionally, the BSE issued approval for the reclassification of promoter shareholders under Regulation 31(A) of the SEBI LODR Regulations, 2015, as per reference LIST/COMP/HG/377/2025-26 dated August 8, 2025.

Compliance Status and Deviations

The report highlights that while the company has largely complied with regulations, there were specific deviations involving fines imposed by the BSE. The company does not have any subsidiary companies, and no directors are disqualified under Section 164 of the Companies Act, 2013.

The company paid a total of Rs. 2,160 (after deducting TDS) for a one-day delay in filing the Annual Report. For the delayed submission of financial results, a sum of Rs. 27,000 (after deducting TDS) was paid. A penalty of Rs. 10,00,000 plus GST was paid for the revocation process of the suspension in trading.

Governance and Disclosures

Binny Mills has conducted performance evaluations of the Board, Independent Directors, and Committees as prescribed. The company obtained prior approval from the Audit Committee for related party transactions and disclosed all required events under Regulation 30 of SEBI LODR Regulations within stipulated time limits. The report notes that no additional non-compliances were observed for any SEBI regulation during the period under review.