Orient Paper & Industries reported a net loss of ₹8.25 crore for the quarter ended June 30, 2026, marking a significant improvement from the ₹34 crore profit recorded in the corresponding quarter of the previous year. The company’s revenue from operations declined by 4.5% to ₹2,276.14 crore, down from ₹2,383.44 crore in Q1FY26. The Board of Directors approved the unaudited financial results on August 7, 2026, alongside key governance changes including the appointment of a new independent director.

The financial statement was reviewed by B S R & Co. LLP, the statutory auditors, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board also approved the appointment of Mrs. Anuradha Mookerjee as an Additional Director in the category of Independent Director, effective August 8, 2026, subject to shareholder approval. Concurrently, Mrs. Gauri Rasgotra will cease to be an Independent Director upon completing her second consecutive term on August 21, 2026.

Financial Performance

Revenue from operations declined to ₹2,276.14 crore in Q1FY27, compared to ₹2,383.44 crore in Q1FY26. Other income stood at ₹23.95 crore, contributing to a total income of ₹2,300.09 crore. Total expenses decreased to ₹2,408.75 crore from ₹2,589.77 crore in the prior year period, driven largely by lower material costs and other expenses.

The company incurred a loss before tax of ₹108.67 crore, an improvement from the ₹178.47 crore loss in Q1FY26. Tax expenses included a deferred tax credit of ₹26.16 crore. In the prior year, the significant profit was partly driven by a one-time deferred tax credit of ₹518.40 crore related to the option exercised under Section 115BAA of the Income-tax Act, 1961.

Segment Analysis

The paper & tissue segment, which constitutes the majority of the business, saw revenue decline to ₹1,867.50 crore from ₹1,952.26 crore in Q1FY26. This segment reported a loss of ₹42.15 crore, compared to a loss of ₹93.46 crore in the same period last year, indicating operational improvement despite lower sales. The chemicals segment generated revenue of ₹442.88 crore, slightly down from ₹465.77 crore, but remained profitable with a segment result of ₹61.04 crore.

Total assets stood at ₹22,054.19 crore, while total liabilities were ₹7,247.70 crore as of June 30, 2026. The unallocated assets comprised ₹8,068.53 crore, reflecting corporate-level holdings and investments.

What the Numbers Show

The narrowing of the net loss is primarily attributable to improved operational efficiency in the paper & tissue segment, where the loss reduced by over 50% year-on-year despite a decline in revenue. The absence of the large one-time deferred tax credit seen in Q1FY26 makes the current quarter's performance a more accurate reflection of ongoing operations. While revenue pressures persist across both segments, the reduction in total expenses suggests cost-control measures are yielding results.

Orient Paper & Industries shareholders approved the adoption of audited financial statements for the financial year ended March 31, 2026, alongside the re-appointment of Chandra Kant Birla as a director. The 90th Annual General Meeting (AGM) was conducted via Video Conferencing/Other Audio Visual Means (VC/OAVM) on July 31, 2026, from 2:30 P.M. to 3:25 P.M., with e-voting facilitated by National Securities Depository Limited (NSDL). Shareholders also ratified the remuneration payable to the Cost Auditor for the financial year ending March 31, 2027.

The meeting was chaired by CK Birla, Non-Executive Chairman, who addressed shareholders and introduced key board members including Managing Director & CEO Anant Agarwal, Chief Financial Officer Amit Poddar, and Independent Directors S. Vishvanathan, Raj Kumar Agrawal, Ashwin Bishnoi, and Gauri Rasgotra. The Company Secretary, R.P. Dutta, confirmed the presence of requisite quorum and noted that the Statutory Auditors’ Report and Secretarial Auditors’ Report contained no qualifications or adverse remarks for FY25-26. Consequently, these reports were taken as read without objection.

Key Resolutions Passed

The Board transacted three primary items of business during the AGM. Voting was conducted through remote e-voting, which ran from July 28, 2026 (9:00 A.M.) to July 30, 2026 (5:00 P.M.), and additional voting was available during the meeting for those who had not voted remotely. The cut-off date for shareholding eligibility was July 24, 2026.

Chandra Kant Birla retires by rotation at this AGM and, being eligible, offered himself for re-appointment. The shareholders approved his continuation on the Board. For Item No. 2, S. Vishvanathan, Independent Director, temporarily chaired the proceedings as CK Birla had an interest in the agenda item. CK Birla resumed the chairmanship for subsequent items.

Regulatory Compliance and Disclosures

The proceedings complied with Regulation 30 read with Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Company Secretary informed members that the Annual Report for FY25-26 was disseminated electronically to registered email addresses, with physical copies provided upon request. Registers of Members, Directors, Key Managerial Personnel, and Contracts involving Director interests were available for inspection on the NSDL e-Voting page and the company website during the meeting.

Amit Jain, representing B S R & Co. LLP, Statutory Auditors, and A. K. Labh, Partner at Labh & Labh Associates, Secretarial Auditor and Scrutinizer, were present. The Scrutinizer’s detailed report and voting results under Regulation 44 of the Listing Regulations will be submitted to the stock exchanges in due course. The Managing Director & CEO, CFO, and Company Secretary were authorized to receive the Scrutinizer’s Report, declare results, and submit them to the exchanges.