Kay Power and Paper Ltd announced that Mr. Niraj Chandra has resigned from his position as Managing Director and Director, effective June 1, 2026. The resignation, submitted to the Board of Directors, was driven by pre-occupation and an inability to devote sufficient time to the affairs of the company. This development was disclosed to the stock exchange pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mr. Niraj Chandra (DIN: 00452637) formally tendered his resignation on June 1, 2026, requesting relief from all duties and responsibilities held within the company. In his communication, he confirmed that there were no other material reasons for his departure beyond those stated. He further requested the Board to accept his resignation and initiate the necessary steps to file requisite forms and intimations with statutory and regulatory authorities, including the Registrar of Companies.

The company, through its Company Secretary and Compliance Officer Sagar Mohite, confirmed that the details of the resignation have been submitted to BSE Limited. The disclosure included specific regulatory references such as SEBI Circular No. CIR/CFD/CMD/4/2015 and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120. The intimation was filed under the company's scrip code 530255 and scrip ID KAYPOWR.

Details of Resignation

The following table outlines the key particulars regarding the change in directorship as provided in the regulatory filing:

The resignation marks a significant change in the leadership structure of Kay Power & Paper . The company has assured that all procedural requirements for updating statutory records will be completed promptly.

Kay Power and Paper Ltd reported a net profit of ₹101.01 lakh for the financial year ended March 31, 2026, a decline from ₹112.52 lakh in the previous year. Revenue from operations fell to ₹2438.04 lakh compared to ₹4043.59 lakh in FY25, primarily due to the plant remaining non-operational for 190 days because of fuel-feeding issues and a fire incident on March 12, 2026. The company disclosed these audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, under Regulation 30 of the SEBI (LODR) Regulations, 2015.

For the quarter ended March 31, 2026, the company reported a net profit of ₹106.38 lakh, recovering from a loss of ₹8.54 lakh in the quarter ended December 31, 2025. Total revenue for the quarter stood at ₹513.44 lakh. The paid-up equity share capital increased to ₹3494.00 lakh as of March 31, 2026, from ₹2209.00 lakh in the previous year. M/s. Ankush Shinde & Company, Chartered Accountants, issued an independent auditor's report with an unmodified opinion on the standalone and consolidated financial results.

Financial Performance

The plant faced fuel-feeding issues with the boiler, leading to non-operation for 190 days during the year. A fire incident on March 12, 2026, at the company's premises in Satara damaged the wastepaper storage facility and adjacent machinery, suspending manufacturing operations until May 2, 2026. This impacted production and sales volumes for the year.

Consolidated Results

The consolidated net profit for the year was ₹101.01 lakh, with total revenue at ₹2492.71 lakh. The subsidiary, M/s. Satara Aerospace and Defence Industrial Park Private Limited, has not yet commenced operations. The group's total assets stood at ₹8282.05 lakh as of March 31, 2026, compared to ₹6232.91 lakh in the previous year.