Raama Paper Mills Limited reported a net loss of ₹614.49 lakh for the financial year ended March 31, 2026, deepening concerns over its financial stability amid ongoing insolvency proceedings. The company, which is currently under the Corporate Insolvency Resolution Process (CIRP), recorded a negative net worth of ₹5,115.48 lakh as of March 31, 2026, with current liabilities exceeding total assets by ₹3,512.05 lakh. The accumulated losses for the period stood at ₹7,249.26 lakh.

The Board of Directors remains suspended following the appointment of an Insolvency Resolution Professional (IRP) by the National Company Law Tribunal (NCLT) on June 7, 2024. Consequently, the audited standalone financial results for the quarter and year ended March 31, 2026, were approved and taken on record by the Resolution Professional. The Committee of Creditors had previously approved a resolution plan on April 16, 2025, which was later set aside by the NCLT, Allahabad Bench, on January 7, 2026.

Jagdish Chand & Co, the statutory auditor, issued a qualified opinion on the financial results, citing several material lapses. The company failed to provide interest amounting to ₹134.61 lakh for the quarter and ₹545.91 lakh for the year on two secured inter-corporate deposits. Additionally, interest of ₹0.59 lakh and ₹2.71 lakh for the quarter and year, respectively, was not provided on vehicle loans from banks. The cumulative unprovided interest from June 8, 2024, to March 31, 2026, totals ₹996.68 lakh.

The auditor further noted that no physical verification of property, plant, and equipment was carried out during the year, making the effect of this omission unascertainable. Additionally, the company did not undertake physical verification of inventories worth ₹116.33 lakh as of the year-end. The report also highlighted non-compliance with the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006, as trade payables were not bifurcated into MSME and other categories, and the mandatory MSME-1 form was not filed for the financial year 2025-26.

Financial Performance

The company reported total income of ₹141.25 lakh for FY26, a significant decrease from ₹648.22 lakh in the previous year. Revenue from operations stood at ₹125.86 lakh, while other income contributed ₹15.40 lakh. Total expenses for the year were ₹739.92 lakh, down from ₹1,603.39 lakh in FY25. The basic and diluted earnings per share (EPS) for the year were reported at (₹6.36).

Assets and Liabilities

As of March 31, 2026, the company's total assets were valued at ₹5,529.34 lakh, a decline from ₹6,607.74 lakh in the previous year. Total liabilities stood at ₹10,644.82 lakh. Equity share capital remained constant at ₹966.47 lakh, while other equity was recorded at (₹6,081.96) lakh. The cash and cash equivalents at the end of the period were ₹227.26 lakh, compared to ₹45.23 lakh in the prior year.

Raama Paper Mills Limited has announced that its Board of Directors will meet on Saturday, May 30, 2026, to discuss the company's financial performance. The meeting is scheduled to take place at 04:00 P.M. at the Corporate Office located in New Delhi. The primary agenda for the meeting is the consideration and approval of the audited financial results for the quarter and fiscal year ending March 31, 2026.

Agenda for the Meeting

The board will deliberate on the audited financial results for the specified period. Additionally, the directors may discuss any other matter permitted by the Chair during the proceedings.

Trading Window Closure

In compliance with the Company's Code of Conduct for the prevention of Insider Trading, the trading window for dealing in the securities of the company has been closed with immediate effect. This restriction applies to all directors, officers, and designated employees of the company. The window will reopen 48 hours after the announcement of the financial results.

Meeting Details