Binny Mills Limited reported a net loss of ₹289.62 lakh for the quarter ended June 30, 2026 (Q1FY27), a significant improvement from the ₹1,097.43 lakh loss recorded in the preceding quarter. Total income from operations rose 31.2% year-on-year to ₹204.72 lakh, driven by higher operational activity compared to the ₹155.99 lakh reported in Q1FY26. The Board of Directors approved the unaudited financial results on July 31, 2026, alongside the appointment of Dr. T. Bhasker Raj as an Additional Director.

The company’s 19th Annual General Meeting is scheduled for August 31, 2026, to be conducted via Video Conferencing or Other Audio-Visual Means. The Board meeting, held on July 31, 2026, commenced at 11:30 AM and concluded at 12:45 PM. The financial statements were prepared in accordance with Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013.

Financial Performance

Binny Mills Limited saw its operational income increase significantly compared to the same period last year, though it continues to report net losses. The net loss before tax stood at ₹253.65 lakh, down from ₹921.36 lakh in the previous quarter. Earnings per share (basic and diluted) were ₹(11.21), an improvement from ₹(42.47) in the prior quarter.

What the Numbers Show

The narrowing of the net loss by nearly 74% quarter-on-quarter suggests a stabilization in cost structures or a reduction in exceptional items, although total income dropped sharply from ₹433.12 lakh in Q4FY26 to ₹204.72 lakh in Q1FY27. This divergence indicates that while revenue generation has normalized seasonally, the company is managing its expense base more effectively than in the immediate past. The debt-equity ratio remains at (0.58), reflecting the classification of cumulative redeemable preference shares as financial liabilities under Ind AS.

Corporate Governance Updates

Dr. T. Bhasker Raj (DIN: 02724086) was appointed as an Additional Director (Non-Executive, Non-Independent) with effect from July 31, 2026. He will hold office up to the date of the ensuing Annual General Meeting. Dr. Bhasker Raj is related to Mr. V. R. Venkataachalam, Director, being his sister’s son, and to Ms. Samyuktha, Managing Director, being her cousin. He is not debarred from holding office by any regulatory authority.

The quarterly results were reviewed by Ramesh and Ramachandran Chartered Accountants, who issued a review report pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Audit Committee recommended the results to the Board, which approved them on July 31, 2026.

Five members of the promoter group of Binny Mills Limited acquired 16,14,854 equity shares, representing 62.51% of the diluted share capital, via a gift from promoter V R Venkataachalam. The transaction, an inter-se transfer among immediate relatives, was executed on June 30, 2026, and disclosed to the BSE Limited on July 1, 2026.

The acquisition was conducted under Regulation 10(1)(a)(i) and 10(1)(a)(ii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation provides an exemption from making an open offer for inter-se transfers among promoters and promoter group entities. The transferor, V R Venkataachalam, is the brother of the acquirers and a promoter of the company.

Following the acquisition, Venkataachalam ceased to hold any shares in Binny Mills Limited. Prior to the transaction, he held 16,14,854 shares, or 62.51% of the company. The shares were acquired at nil consideration as the transfer was by way of gift.

The necessary disclosures regarding the proposed acquisition were filed with the stock exchange on June 22, 2026, in compliance with Regulation 10(5) of the SEBI SAST Regulations.

Shareholding Details