Shree Rama Newsprint Limited is seeking shareholder approval through a postal ballot to appoint Mr. Alok Jain as an Independent Director for a term of five years. The resolution requires a special majority and pertains to the appointment of Mr. Jain (DIN: 06950769), who was initially appointed as an Additional Director by the Board on May 25, 2026. The company has engaged National Securities Depository Limited (NSDL) to facilitate the remote e-voting process.

The remote e-voting period commenced on June 4, 2026, at 9:00 A.M. and will conclude on July 3, 2026, at 5:00 P.M. Shareholders holding shares as of the cut-off date, May 29, 2026, are eligible to participate. Mr. Kinjal Shah, a Practicing Company Secretary, has been appointed as the Scrutinizer to ensure the process is conducted fairly and transparently.

Appointment Details

The Board of Directors recommends the appointment of Mr. Alok Jain as a Non-Executive Independent Director. He is not liable to retire by rotation and will hold office for five consecutive years from May 25, 2026, to May 24, 2031. The company has received a declaration from Mr. Jain confirming he meets the criteria for independence under Section 149(6) of the Companies Act, 2013, and Regulation 16(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Voting Dates

The results of the postal ballot will be announced on or before July 7, 2026, and subsequently communicated to the stock exchanges. Shareholders can cast their votes through the NSDL e-voting system using their demat account details or login credentials provided by the depository.

Shree Rama Newsprint & Papers reported a net loss of ₹6,853.50 lakh for the financial year ended March 31, 2026, narrowing from a loss of ₹10,628.69 lakh in the previous year. Revenue from operations declined to ₹3,271.86 lakh from ₹4,413.21 lakh in FY25. The company's current liabilities exceeded its current assets by ₹12,152.60 lakh as of March 31, 2026, indicating a material uncertainty regarding its ability to continue as a going concern, though the financial statements were prepared on a going-concern basis supported by plans to dispose of non-core assets.

Financial Performance

For the quarter ended March 31, 2026, the net loss stood at ₹3,791.21 lakh. Total income for the year decreased to ₹3,963.43 lakh from ₹4,879.59 lakh in the corresponding period last year. The statutory auditors, M/s Batliboi & Purohit, issued an unmodified opinion on the audited financial results.

Discontinued Operations

The Paper Division has been classified as a discontinued operation. During the year, the company reassessed the fair valuation of assets related to this division and recognized an impairment loss of ₹2,784.33 lakh. The loss from discontinued operations for the year was reported at ₹3,458.56 lakh.

Board Appointment

The Board of Directors appointed Mr. Alok Jain as an Additional Director in the category of Non-Executive Independent Director effective May 25, 2026, for a term of five years. This appointment is subject to the approval of members through a special resolution in a General Meeting or via Postal Ballot.

Key Financial Figures