JBF Industries Limited, currently under Corporate Insolvency Resolution Process (CIRP), reported a net loss of ₹5.41 crore for the year ended March 31, 2026, against a loss of ₹5.27 crore in the previous year, with revenue from operations remaining nil for both periods.

The company has scheduled its 44th Annual General Meeting (AGM) for Wednesday, September 30, 2026 at 11:30 am (IST) via Video Conferencing (VC) or Other Audio Visual Means (OAVM). The AGM notice and Annual Report for FY 2025-26 are available on the company's website at www.jbfindustries.co.in .

Financial Performance

The following table summarises JBF Industries' standalone financial results for the year ended March 31, 2026, compared with the previous year.

Revenue from operations was nil for both FY26 and FY25, primarily due to the discontinuation of manufacturing operations and the ongoing CIRP. Other income rose to ₹0.15 crore from ₹0.08 crore, comprising interest income from fixed deposits of ₹0.14 crore and export incentive of ₹0.01 crore. Total expenses stood at ₹4.42 crore for FY26 against ₹2.74 crore in FY25, driven by higher other expenses of ₹3.72 crore, which included a net loss on foreign currency transactions of ₹2.51 crore.

Balance Sheet Position

The company's total assets as at March 31, 2026 stood at ₹49.92 crore, down from ₹55.80 crore as at March 31, 2025. The equity position remains deeply negative, with total equity at ₹(2,858.16) crore, reflecting an equity share capital of ₹81.87 crore and other equity of ₹(2,940.03) crore. Current borrowings remained unchanged at ₹2,359.84 crore.

Corporate Insolvency Resolution Process

JBF Industries was admitted to CIRP vide an order dated January 25, 2024 passed by the National Company Law Tribunal (NCLT), Ahmedabad Bench. Mr. Mukesh Verma was appointed as Resolution Professional (RP) with effect from April 15, 2024. Pursuant to Section 17 of the Insolvency and Bankruptcy Code, 2016, the powers of the Board of Directors stand suspended from the CIRP commencement date.

One resolution plan was assented to by the Committee of Creditors (COC) with the requisite majority but was not found acceptable by the NCLT and was remanded back to the COC with certain observations. The updated plan had not been received as on March 31, 2026. The auditors have issued a qualified opinion, noting that the company has provided interest at nil% per annum on borrowings aggregating to ₹2,47,379 lakhs, resulting in finance costs for the year ended March 31, 2026 being lower by ₹45,283 lakh. The aggregate amount of interest not provided for as at March 31, 2026 is ₹2,01,433 lakhs.

Dividend and Share Capital

No dividend has been recommended on equity shares for FY26 given the absence of revenue or profit. The dividend on preference shares will be carried forward for payment in the next financial year. The paid-up equity share capital as on March 31, 2026 was ₹81.87 crore and preference share capital was ₹14.91 crore. The company has defaulted in repayment to preference shareholders of ₹113.96 crore as at March 31, 2026.

AGM and Shareholder Information

Key details for the 44th AGM are as follows:

The total shareholding as on March 31, 2026 comprised 81,871,849 equity shares, of which 99.36% were held in demat form. Indian public shareholders held 48.61% of the total shares, while Indian promoters held 22.91%.

Secretarial and Audit Observations

The secretarial audit for FY26 was conducted by M/s. Elias L. Rodrigues & Co., Company Secretaries. Key observations included delayed filing of certain e-forms, non-payment of annual listing fees to BSE Limited, and partial compliance with SEBI regulations, all attributed to the ongoing CIRP. The statutory audit was conducted by M/s. S. C. Ajmera & Co., Chartered Accountants, Udaipur (Registration No. 002908C), who issued a qualified opinion. The auditors also noted material uncertainty related to the going concern status of the company, the vacancy of CEO and CFO positions, and the absence of an internal auditor.

JBF Industries Limited has accepted the resignation of Ms. Bindu Darshan Shah (DIN: 07131459) as a director of the company, effective June 29, 2026. The Resolution Professional (RP) confirmed that the resignation was taken on record on this date following the filing of Form DIR-11 with the Registrar of Companies. Ms. Shah cited "Personal Reasons" for her departure from the board.

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read together with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 13, 2023. While Form DIR-11 indicated an effective date of April 18, 2024, the RP noted that since the form was filed on June 29, 2026, the resignation is officially recognized from the date of filing.

Mr. Mukesh Verma, serving as the Resolution Professional for JBF Industries Limited, signed the disclosure on July 29, 2026. He holds Registration No: IBBI/IPA-001/IP-P01665/2019-2020/12522. The company’s registered office is located in Silvassa, Dadra & Nagar Haveli.

The Ministry of Corporate Affairs approved the DIR-11 application (SRN AC4275590) on June 30, 2026. The approval confirms the procedural compliance of the resignation process. No further details regarding the impact on board composition or operational continuity were provided in the filing.