Pakka Ltd has accepted the resignation of Mrs. Neetika Suryawanshi as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective from the close of business hours on June 30, 2026. The resignation, tendered due to personal reasons, was accepted by Mr. Ved Krishna, Managing Director (KMP) of the company. This change in leadership was disclosed to the National Stock Exchange of India and BSE Limited on June 16, 2026.

The company stated that Mrs. Suryawanshi's resignation is not attributable to any disagreement or concern relating to financial reporting, management, governance, operations, or compliance matters. In her resignation letter, she confirmed that the decision was solely based on personal grounds and requested the Board to arrange for all necessary statutory and regulatory filings.

Resignation Details

The following table outlines the key particulars regarding the change in the company's Key Managerial Personnel:

The company placed on record its appreciation for the valuable contributions and services rendered by Mrs. Neetika Suryawanshi during her tenure as CFO. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and relevant circulars.

Pakka Limited reported an 8% rise in revenue for the fourth quarter of FY26 compared to the corresponding period last year, while annual revenue declined by 13% primarily due to a planned machine shutdown. The company disclosed these figures during an investor conference call held on June 2, 2026, to discuss the financial performance for the quarter and financial year ended March 31, 2026. The management highlighted that while the wrap and carry business showed resilience with a 4% sequential growth in Q4, the overall year was impacted by a 40-day outage of the PM3 machine, which contributes nearly 50% of the total volume.

Financial Performance

The company's financial results for the year were significantly affected by operational challenges. The PM3 machine outage, which extended beyond the planned 20 days, resulted in a revenue loss and an estimated impact of ₹11 crore on profit before tax (PBT). Additionally, pricing pressure from new market entrants led to a net sales realization (NSR) impact of approximately ₹16 crore. Despite these headwinds, the food services business unit achieved a revenue of approximately ₹17 crore in Q4, a significant increase from ₹11.5 crore in the same quarter last year, driven by a 20% volume growth and expansion into 25 new cities.

Funding and Capital Structure

To address funding shortfalls and support project execution, Pakka Limited finalized a refinancing deal with the Neo Group. The arrangement includes a debenture facility of ₹500 crore, comprising a base amount of ₹500 crore and a green shoe option of ₹40 crore. The revised terms provide a four-month moratorium with no principal repayment for 16 months. The effective interest rate is 16.95%, though the cash flow structure includes a 12% interest rate for the initial 12 to 18 months. Promoters will infuse ₹85 crore in equity, while the Neo Group will invest ₹30 crore, replacing existing lenders and securing the debt with a first charge on fixed assets and a second charge on current assets.

Project Updates and Future Outlook

Management provided an update on Project Jagriti, stating that the power plant and recovery boiler are expected to be commissioned in July. The new paper machine (PM4) is anticipated to start production by the end of September, with stabilization expected to follow. The company aims to achieve 60% production capacity by the end of the current financial year and 75% in the subsequent year. To optimize costs and expand capacity without significant capital expenditure, the company is increasing its outsourced greaseproof production to 500 tons per month. Additionally, the innovation facility in Bangalore is being moved to Ayodhya to align with operations and reduce rental costs.

Strategic Initiatives

The company is focusing on stabilizing its Indian operations before expanding internationally. In the food services segment, the strategy involves scaling through an asset-light model by outsourcing manufacturing to reduce costs and optimize freight. The management also announced a phase-one launch of delivery containers in the current quarter. On the product development front, the company is conducting pilot trials for non-metallized flexible packaging and working on barrier coating solutions. The board remains committed to the long-term vision, including the potential for a Guatemala facility, but has prioritized stabilizing the domestic business first.