The Mysore Paper Mills Limited, a Government of Karnataka undertaking, has formally notified BSE Limited of the reasons for its delay in uploading the unaudited financial (provisional) results for the quarter ended 31st March 2026 (Q4 FY2025-26). The disclosure, dated 7th May 2026, was addressed to the Listing Compliance Monitoring Team of BSE Limited and signed by Company Secretary Mohan D Kulkarni. The prescribed due date for submission of the said results was 15th May 2026.

Prolonged Audit Backlog and Accounting Challenges

The company outlined a series of long-standing accounting and audit-related difficulties that have contributed to the current delay. The 80th Annual General Meeting of the company, pertaining to FY 2014-15, was held on 29th December 2021 in virtual mode—several years after the close of that financial year. The statutory auditors, M/s. MNS & Co., Bengaluru, appointed by the Office of the Comptroller and Auditor General of India (CAG), New Delhi, had initially declined to sign the annual accounts for FY 2014-15, citing concerns over the company's status as a 'going concern.' The company had also been declared a 'Sick' Company by BIFR in case No. 601/2012.

The accounts for FY 2014-15 were ultimately signed with a disclaimer of 'Not an ongoing Concern' only towards the end of 2021, following the issuance of a Letter of Comfort by the Government of Karnataka. Subsequently, the preparation and finalization of annual accounts for FY 2015-16, FY 2016-17, and FY 2017-18 were undertaken through external financial consultants M/s. Manian & Rao, Bengaluru, with simultaneous statutory auditing carried out by M/s. Vasan & Sampath LLP, the CAG-appointed auditors for those three years.

The statutory audit for FY 2015-16 has since been completed, with the audit report submitted to the Principal Accountant General Office, Karnataka, Bengaluru. A 'Nil Comments Certificate' was issued following the supplementary audit, enabling the 81st Annual General Meeting for FY 2015-16 to be held on Saturday, 29th November 2025, at 12 p.m. in virtual mode.

Key Factors Behind the Q4 FY2025-26 Delay

The following key factors were cited by the company as reasons for the delay in submitting the Q4 FY2025-26 unaudited results:

Operational Background

The company noted that it had stopped operational activities since FY 2015-16 due to significant losses incurred over successive years since 2009. Operations were formally closed in October 2021 following approval by the Competent Authority of the Government of Karnataka. Since 2017, the company's activities have been confined to forest plantation operations.

The sudden demise of the company's Chief Finance Officer during the first wave of Covid-19, and the consequential disruptions in the post-pandemic period, along with the non-filling of the CFO position since then, have further hampered the timely preparation of quarterly financial results.

Compliance Commitment and Next Steps

The company stated that the provisional unaudited financial results for the quarter ended 31st March 2026 are currently under preparation by M/s. Manian & Rao, Chartered Accountants & Financial Consultants, who have also previously served as statutory auditors of the company. The Mysore Paper Mills Limited has indicated that the results will be uploaded to BSE Limited as expeditiously as possible, following approval by the Board of Directors at an upcoming meeting being convened for this purpose.

The Mysore Paper Mills Limited, a Government of Karnataka undertaking, has filed its quarterly compliance certificate with the Bombay Stock Exchange under SEBI Depositories and Participants Regulations for the quarter ended March 31, 2026. The submission, made on April 9, 2026, fulfills the company's regulatory obligations regarding securities dematerialization processes.

Regulatory Compliance Submission

Company Secretary Mohan Kulkarni submitted the certificate pursuant to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The document was digitally signed and transmitted to the Department of Corporate Affairs at the Bombay Stock Exchange on Dalal Street, Mumbai.

Registrar Confirmation

Integrated Registry Management Services Private Limited, serving as the company's registrar and share transfer agent, provided the compliance confirmation. General Manager S Giridhar certified that all securities received from depository participants for dematerialization during the quarter were properly processed according to regulatory requirements.

The registrar confirmed several key compliance aspects:

• Securities received for dematerialization were confirmed to depositories within prescribed timelines
• All securities comprised in the certificates have been listed on stock exchanges where earlier issued securities are listed
• Physical certificates received for dematerialization were mutilated and cancelled after due verification
• Depository names were substituted in the register of members as registered owners within 15 days

Company Information

The Mysore Paper Mills Limited operates as a Government of Karnataka undertaking with its registered office located at No 32, 5th Floor, D Devaraj Urs Road, Bengaluru. The company maintains its corporate website at www.mpm.co.in and can be reached through telephone numbers 080-22266979 and 080-22255459.

Regulatory Framework

The submission aligns with SEBI's investor protection initiatives and ensures transparency in securities handling processes. The quarterly certification requirement under Regulation 74(5) mandates companies to confirm proper processing of dematerialized securities, maintaining investor confidence in the depository system.

This compliance filing represents part of the company's ongoing commitment to regulatory adherence and transparent corporate governance practices in the Indian securities market.