Raama Paper Mills Limited has submitted its annual report for the financial year ended March 31, 2026, and intimated the book closure dates for its upcoming annual general meeting. The company filed the document with BSE Limited pursuant to SEBI LODR regulations.

The 41st Annual General Meeting (AGM) is scheduled for September 30, 2026, at 5:00 pm. The meeting will be conducted through video conferencing or other audio-visual means (VC/OAVM). Shareholders will receive the annual report electronically, and it is also available on the company’s website.

Book Closure Details

The register of members and share transfer books will remain closed from September 23, 2026, to September 30, 2026, inclusive. This closure is mandated under Regulation 42 of the SEBI LODR Regulations and Section 91 of the Companies Act, 2013.

Financial Performance

Raama Paper Mills reported a net loss of ₹614.49 lakh for FY26, an improvement from the net loss of ₹1,644.36 lakh in the previous year. Revenue from operations declined sharply to ₹125.86 lakh from ₹665.13 lakh in FY25. Total expenses fell to ₹739.92 lakh from ₹2,226.25 lakh, driven by lower material consumption and employee benefits.

Corporate Insolvency Resolution Process

The company remains under the purview of the Corporate Insolvency Resolution Process (CIRP) as per the Insolvency and Bankruptcy Code, 2016. The Hon'ble Allahabad Bench of NCLT appointed Sandeep Kumar Agrawal as the Resolution Professional. The powers of the Board of Directors are suspended, with management vested in the RP. A resolution plan submitted by Poddar Global Limited was approved by the Committee of Creditors and submitted to the NCLT for approval.

Balance Sheet Highlights

As of March 31, 2026, the company reported total assets of ₹5,529.34 lakh, down from ₹6,607.74 lakh in the previous year. Total liabilities stood at ₹10,644.82 lakh. The company has a negative net worth of ₹5,115.48 lakh. Current liabilities exceeded total assets by ₹3,512.05 lakh, indicating significant liquidity pressure.

The filing includes the notice of the AGM, audited financial statements, and the board’s report as required under the Companies Act, 2013.

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.