Tamil Nadu Newsprint & Papers Limited conducted its board meeting on March 27, 2026, addressing critical governance and compliance matters. The meeting, which commenced at 1:00 PM and concluded at 5:00 PM, resulted in significant decisions regarding external auditor appointments and regulatory compliance issues.

External Internal Auditor Re-appointment

The board approved the re-appointment of M/s B Thiagarajan & Co., Chartered Accountants, as external internal auditors for the financial year 2026-27. This decision aligns with the requirements under Section 138 of the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

M/s B Thiagarajan & Co. is a Chennai-based chartered accountants firm established in 1975, offering comprehensive professional services including statutory audit, internal audit, management audit, and taxation services. The firm operates from Old No.15, New No.24, Yogambal Street, T. Nagar, Chennai – 600017.

Stock Exchange Penalties Acknowledged

The board took formal note of penalties imposed by both major stock exchanges for regulatory non-compliance. BSE Limited and National Stock Exchange each levied fines of Rs.4,89,700/- under SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

The penalties were imposed for non-compliance with requirements pertaining to the composition of the Board under Regulation 17(1) of the SEBI LODR Regulations, 2015. However, the board confirmed that the company has now achieved compliance with Regulation 17(1) regarding board composition.

Regulatory Compliance and Disclosure

The company fulfilled its disclosure obligations under Regulation 30 of SEBI (LODR) Regulations, 2015, by formally communicating these decisions to both stock exchanges. The comprehensive disclosure included detailed information about the auditor appointment, including firm credentials, appointment terms, and fee structure breakdown across both manufacturing units.

Company Secretary & Compliance Officer Anuradha Ponraj signed the official communication, ensuring proper documentation and regulatory compliance for all board decisions made during the meeting. The company operates two manufacturing units - Unit I at Kagithapuram, Karur District and Unit II at Kagitha Nagar, Mondipatti, Tiruchirappalli District.

Tamil Nadu Newsprint and Papers Limited has received credit rating reaffirmation from ICRA Limited for financial facilities worth ₹2933 crore. The company disclosed this development to stock exchanges under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 on February 16, 2026.

Rating Details and Facility Breakdown

ICRA Limited has reaffirmed credit ratings across multiple facility categories for Tamil Nadu Newsprint and Papers Limited. The rating actions cover a comprehensive range of financial instruments including term loans, working capital facilities, and unallocated limits.

Term Loan Facilities

The term loan facilities totaling ₹1,489.56 crore are distributed across multiple banking partners. Indian Overseas Bank leads with ₹300.00 crore, followed by Punjab National Bank with ₹270.00 crore. Indian Bank and Export Import Bank of India each contribute ₹200.00 crore to the facility structure.

Working Capital and Other Facilities

The working capital facilities worth ₹775.00 crore comprise both fund-based and non-fund-based limits. Fund-based working capital facilities including cash credit, working capital demand loans, and packing credit total ₹350.00 crore. Non-fund-based facilities covering letters of credit and bank guarantees amount to ₹425.00 crore.

State Bank of India provides the largest share with ₹150.00 crore in fund-based facilities and ₹295.00 crore in non-fund-based facilities. Canara Bank, Indian Bank, and Karur Vysya Bank are other key banking partners supporting the company's working capital requirements.

Rating Significance and Compliance

The [ICRA]A+(Stable) rating indicates adequate degree of safety regarding timely servicing of financial obligations, with low credit risk. The [ICRA]A1 short-term rating reflects adequate degree of safety regarding timely payment of financial obligations. ICRA has scheduled the ratings for surveillance within one year from February 16, 2026.

The rating reaffirmation covers facilities across the company's operations, including its registered office in Chennai and manufacturing units in Karur and Tiruchirappalli districts. Tamil Nadu Newsprint and Papers Limited operates as a Government of Tamil Nadu enterprise specializing in bagasse-based eco-friendly paper manufacturing.