Malu Paper Mills Limited has submitted its quarterly certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. The submission was made to both the National Stock Exchange of India and the Bombay Stock Exchange Limited on April 13, 2026.

Certificate Submission Details

The certificate was received from MUFG Intime India Private Limited, which serves as the company's Registrar and Share Transfer Agent. The document confirms compliance with regulatory requirements for the quarter ended March 31, 2026.

Regulatory Compliance Confirmation

MUFG Intime India Private Limited confirmed that securities received from depository participants for dematerialisation during the quarter were processed according to regulatory requirements. The registrar verified that security certificates received for dematerialisation were confirmed or rejected within prescribed timelines.

The confirmation certificate states that securities comprised in the certificates have been listed on stock exchanges where the company's earlier issued securities are listed. The registrar also confirmed that security certificates were mutilated and cancelled after due verification by the depository participant.

Quarter Activity Status

A notable aspect of the quarterly report is that MUFG Intime India Private Limited confirmed no dematerialisation or rematerialisation requests were received during the quarter ended March 31, 2026. This indicates minimal activity in terms of conversion between physical and electronic form of securities during this period.

Company Information

Malu Paper Mills Limited operates from its registered office at Heera Plaza, 4th Floor, Near Telephone Exchange, Central Avenue, Nagpur. The company maintains additional manufacturing units at Village Borujwada and Village Heti in the Saoner Industrial Area, both located in Nagpur district. The submission was signed by Company Secretary and Compliance Officer Mayuri Asawa.

Malu Paper Mills Limited announced its unaudited financial results for the third quarter of FY26, revealing continued operational challenges amid a difficult market environment. The Nagpur-based paper manufacturer reported significant losses while taking strategic steps to strengthen its business outlook through government contracts and operational restructuring.

Financial Performance Overview

The company's Q3 FY26 performance reflected the ongoing market pressures in the paper industry. Key financial metrics demonstrated the impact of challenging operating conditions on the company's profitability.

Despite higher revenues, the company faced significant margin pressure. Total expenses increased to ₹8427.76 lacs from ₹6792.58 lacs in the corresponding quarter of the previous year, primarily driven by higher material costs and other operational expenses.

Nine-Month Performance Analysis

The nine-month period ending December 31, 2025, showed mixed results with improved revenue performance but continued profitability challenges.

Strategic Business Developments

The company achieved a significant milestone by securing a tender for supplying Writing and Printing Paper to the Maharashtra State Board Textbook Publications. This prestigious government contract is expected to support improved capacity utilization and contribute positively to revenues and profitability in upcoming quarters.

Additionally, Malu Paper Mills has participated in tenders for paper supply to other State Boards, with outcomes pending. The company is strategically entering new market segments including Paper Bag and Writing Printing Paper, prioritizing government supply tenders as key drivers of sustainable growth.

Management Changes

The Board of Directors approved important organizational changes during their meeting held on February 11, 2026. The company appointed CS Priyanka Jaiswal, Proprietor of M/s Priyanka Jaiswal & Associates, as the new Secretarial Auditor for FY 2025-26, following the resignation of CS V. Ramachandran effective February 6, 2026.

Regulatory Compliance

In accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company submitted newspaper copies of its Q3 FY26 quarterly results to both BSE and NSE on February 13, 2026. The results were published in Loksatta (Marathi daily) and Indian Express (English newspaper) in Nagpur.

Management Outlook

Management expressed confidence in the company's turnaround strategy, citing expected improvements in net worth through production strategy changes. The promoters have reaffirmed their commitment to the company's revival by pledging further capital infusion as required. The company is also actively pursuing monetization of surplus land assets to strengthen the balance sheet, improve liquidity, and enhance overall net worth.

The financial results were reviewed by the Audit Committee and approved by the Board of Directors during their meeting on February 11, 2026, which commenced at 3:00 PM and concluded at 5:25 PM.