Neeraj Paper Marketing Limited shareholders adopted the company's audited financial statements for the fiscal year ended March 31, 2026, during the 31st Annual General Meeting (AGM). The meeting, conducted through video conferencing on September 28, 2026, also approved the reappointment of director Praveen Kumar Goel.

The AGM commenced at 11:30 am and concluded at 11:43 am. All proposed resolutions were passed by the requisite majority of shareholders present. The adoption of the financial reports includes the Board of Directors' report and the statutory auditors' opinion for FY26.

Key resolutions passed

The following ordinary resolutions were approved by the shareholders:

Praveen Kumar Goel was eligible for reappointment as he retired by rotation at this meeting. The reappointment ensures continuity in the board's leadership structure for the upcoming fiscal year.

Board composition and meeting details

All directors of the company were present at the meeting through video conferencing from their respective locations. The board included Whole-time Directors Deepak Goel and Praveen Kumar Goel, Non-Executive Director Amit Agarwal, and Non-Executive Independent Directors Gagan Aggarwal, Pooja Bhardwaj, and Neha Agarwal.

Deepak Goel was unanimously elected as the Chairman of the meeting. He confirmed that the quorum was present before declaring the meeting in order. The Statutory Auditor Sanjay Bansal and Secretarial Auditor Anuradha Bhatia also attended the proceedings. The company reported that a total of 38 shareholders attended the meeting through the video conferencing facility.

During the address, the Chairman informed members that there were no observations, qualifications, or adverse comments in the reports of the Statutory Auditor or Secretarial Auditor that would affect the company's functioning. Members were also notified that registers of directors, key managerial personnel, and contracts involving directors' interests were available for inspection via the CDSL e-voting system login.

Voting details and participation

The company submitted detailed voting results pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirement) Regulations 2015. The record date for the meeting was September 21, 2026, with a total of 3,603 shareholders on record. Participation occurred exclusively through video conferencing, with no physical attendance recorded.

For Resolution 1 (Adoption of Financial Statements), 3,032,598 votes were cast in favour, representing 99.98% of valid votes polled. Only 487 votes were cast against. Promoters and promoter group voted unanimously in favour, while public non-institutional shareholders showed slight dissent, with 94.80% voting in favour.

Similarly, for Resolution 2 (Reappointment of Director), 2,877,398 votes supported the motion, accounting for 99.98% of valid votes. The dissenting votes remained at 487. The scrutinizer, Shailly Goel & Co., confirmed that all resolutions were duly passed as ordinary resolutions.

Neeraj Paper Marketing has submitted its 31st Annual General Meeting report for the financial year ended March 31, 2026. The company reported a significant improvement in profitability, with net profit after tax rising 108% year-on-year to ₹51.45 lakh from ₹24.66 lakh in the previous year.

The profit growth occurred despite a 15% decline in revenue from operations, which fell to ₹16,722.80 lakh from ₹19,686.63 lakh in FY25. The primary driver for the bottom-line expansion was a sharp reduction in finance costs, which dropped by 71% to ₹73.89 lakh from ₹254.62 lakh in the prior year.

Financial Performance

The company’s operating profit margin contracted to 0.80% from 1.38% in FY25, reflecting lower operating profits amid reduced turnover and higher operating expenses. However, the interest coverage ratio improved significantly to 1.98 times from 1.17 times, driven by the substantial decrease in interest expenses.

Balance Sheet and Debt Reduction

Neeraj Paper Marketing strengthened its balance sheet through aggressive debt repayment. Long-term borrowings decreased by 47% to ₹309.49 lakh from ₹588.34 lakh in FY25. Consequently, the debt-to-equity ratio halved to 0.27 times from 0.54 times.

Trade receivables stood at ₹3,901.86 lakh as of March 31, 2026, down from ₹4,373.12 lakh in the previous year. The debtors’ turnover period increased slightly to 90.31 days from 78.10 days. Cash and cash equivalents remained low at ₹115.25 lakh, while other current assets rose to ₹1,010.57 lakh.

AGM and Corporate Governance

The company will hold its 31st Annual General Meeting on September 28, 2026, via Video Conferencing or Other Audio Visual Means. Shareholders on record as of September 21, 2026, are eligible to vote. The register of members will remain closed from September 22 to September 28, 2026.

Key agenda items include:

• Adoption of audited financial statements for FY26.
• Reappointment of Mr. Praveen Kumar Goel as a director, who retires by rotation.

Mr. Goel, a Whole Time Director with 33 years of experience in the paper industry, holds 117,000 equity shares. His remuneration for FY26 was ₹18.00 lakh. The Board also noted that no dividend is recommended for the current year as funds are required for business growth.

Regulatory Developments

The Income Tax Department conducted a search operation at the company’s registered office between March 18 and March 20, 2026. Management stated that no assessment order or demand has been received as of the report date, and no adjustments are currently required in the financial statements based on available facts.

What the Numbers Show

The divergence between declining revenue and surging net profit highlights the impact of financial engineering over operational growth. With finance costs dropping from ₹254.62 lakh to ₹73.89 lakh, the company effectively converted high interest burdens into retained earnings. This suggests a strategic deleveraging phase rather than an operational turnaround, as operating margins continued to compress.