B J Duplex Boards Reports Widened Q3FY26 Loss of ₹27.80 Lakhs
B J Duplex Boards Limited reported significantly widened losses for Q3FY26, with net loss expanding to ₹27.80 lakhs from ₹3.76 lakhs in Q3FY25. Nine-month losses also increased to ₹41.34 lakhs from ₹13.63 lakhs. The company expanded its equity base substantially to ₹190.29 lakhs through preferential allotment while continuing to operate in the paper and boards trading segment with minimal revenue generation.
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B J Duplex Boards Limited has reported its unaudited standalone financial results for the quarter ended December 31, 2025, showing deteriorating financial performance with widened losses across all reporting periods. The New Delhi-based company, which operates in the paper and boards trading segment, announced these results following a board meeting held on February 12, 2026.
Financial Performance Overview
The company's financial performance showed significant deterioration during the reporting period. For the quarter ended December 31, 2025, B J Duplex Boards recorded a net loss of ₹27.80 lakhs, substantially higher than the ₹3.76 lakhs loss reported in the corresponding quarter of the previous year.
| Period: | Q3FY26 | Q3FY25 | Change |
|---|---|---|---|
| Total Income: | ₹0.11 lakhs | Nil | - |
| Total Expenses: | ₹27.91 lakhs | ₹3.76 lakhs | +642% |
| Net Loss: | ₹27.80 lakhs | ₹3.76 lakhs | +639% |
Nine-Month Performance Analysis
The nine-month period ending December 31, 2025, also reflected the company's challenging operational environment. Total comprehensive loss for the nine-month period reached ₹41.34 lakhs, compared to ₹13.63 lakhs in the corresponding period of the previous year.
| Metric: | Nine Months FY26 | Nine Months FY25 | Variance |
|---|---|---|---|
| Other Income: | ₹0.41 lakhs | Nil | - |
| Total Expenses: | ₹41.75 lakhs | ₹13.63 lakhs | +206% |
| Net Loss: | ₹41.34 lakhs | ₹13.63 lakhs | +203% |
Expense Breakdown
The company's expense structure revealed significant increases across multiple categories during Q3FY26. Finance costs surged to ₹11.93 lakhs from ₹1.36 lakhs in Q3FY25, while depreciation and amortization expenses of ₹11.04 lakhs were recorded for the first time in the comparative periods. Employee benefits expenses increased to ₹3.60 lakhs from ₹0.48 lakhs, and other expenses decreased to ₹1.34 lakhs from ₹1.92 lakhs.
Capital Structure Changes
A notable development during the period was the significant expansion of the company's equity base. The paid-up equity share capital increased substantially to ₹190.29 lakhs as of December 31, 2025, from ₹49.29 lakhs in the previous year. This increase resulted from the allotment of 1,41,00,000 equity shares of face value ₹1 each to promoters and non-promoter categories at an issue price of ₹1 per share, raising ₹1,41,00,000 on a preferential basis.
Earnings Per Share Impact
The company's earnings per share metrics reflected the poor operational performance. Basic and diluted earnings per share for Q3FY26 stood at ₹(0.17) compared to ₹(0.08) in Q3FY25. For the nine-month period, both basic and diluted EPS improved to ₹(0.25) from ₹(0.28) in the previous year, primarily due to the expanded equity base.
Regulatory Compliance
The financial results were prepared in accordance with Indian Accounting Standards (Ind AS) 34 "Interim Financial Reporting" and were reviewed by the audit committee before board approval. The statutory auditors V.R. Bansal & Associates expressed an unmodified opinion on the standalone financial statements following their limited review under Regulation 33 of SEBI listing regulations.
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