Binny mills Limited has announced significant developments in its securities management structure following a Board of Directors meeting held on February 24, 2026. The company informed BSE Limited about key approvals that will enhance its securities infrastructure and investor accessibility.

Board Meeting Outcomes

The Board of Directors convened on February 24, 2026, and approved crucial decisions regarding the company's securities framework. The meeting was efficiently conducted, commencing at 11.30 A.M and concluding at 11.52 A.M.

Securities Infrastructure Enhancement

The primary focus of the board meeting was the consideration and approval of ISIN allotment and admission of company's securities in the National Securities Depository Limited (NSDL). This development represents a significant step in modernizing the company's securities management system.

The board also approved the appointment of a Registrar and Transfer Agent (RTA) for dematerialization purposes. This appointment will facilitate the electronic holding and transfer of securities, providing greater convenience and security for shareholders.

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company communicated these developments to BSE Limited, where Binny Mills Limited is listed with scrip code 535620.

The communication was signed by V.R.Venkataachalam, Director with DIN 00037524, ensuring proper authorization and compliance with corporate governance requirements. The company maintains its registered office at No. 4, Karpagambal Nagar, Mylapore, Chennai - 600 004, Tamil Nadu, India.

Binny Limited has announced its unaudited financial results for the first quarter of FY25, reporting a net profit of ₹425.41 lakhs for the quarter ended June 30, 2024. The results were reviewed by the audit committee and approved by the board of directors at their meeting held on February 17, 2026.

Financial Performance Overview

The company's financial performance for Q1 FY25 showed mixed results compared to the previous year. While the company maintained profitability, there was a decline in net profit compared to the same quarter last year.

Revenue Recognition and Business Segments

The revenue from operations of ₹1,947.10 lakhs was primarily recognized under the Second Amended and Reinstated Joint Development Agreement dated August 6, 2025. According to the company's disclosure, it operates in only one business segment - the real estate business, in accordance with Ind AS 108 on Operating Segments.

The settlement under the Joint Development Agreement was determined through a Special Committee appointed by the board, headed by Hon'ble Retired Justice Bhaskar. The committee appointed two independent valuers who conducted a comprehensive valuation exercise and bifurcated the settlement into two phases:

• Phase I: Up to 53.18 lakh sq. ft. of saleable area settled through lump sum payment
• Phase II: Balance saleable area from total contemplated 120 lakh sq. ft. developed under area sharing model

Expense Management

Total expenses for the quarter were ₹604.61 lakhs, significantly lower than ₹1,933.85 lakhs in Q1 FY24. The major expense components included:

Corporate Governance Updates

The board of directors approved the resignation of Mr. Sudhir Anand as Company Secretary and Compliance Officer of the company, effective from January 5, 2026. The company maintains its paid-up equity share capital at ₹1,115.97 lakhs with a face value of ₹5 per share.

Auditor's Qualified Opinion

The independent auditor's review report contained several qualifications, including concerns about the recoverability of ₹2,918.05 lakhs advanced to RRB Energy Limited and issues related to unregistered land parcels worth ₹26,765.00 lakhs. The auditors also raised questions about revenue recognition compliance with Indian Accounting Standards in certain transactions.

Despite these qualifications, the company's management expressed confidence in the recoverability of outstanding amounts and compliance with accounting standards. The financial results demonstrate the company's continued focus on its real estate operations while managing various legacy issues.