Sangal Papers Reports Q2 Results, Addresses BSE Compliance Fine

Sangal Papers Limited , a paper products manufacturer, has announced its unaudited financial results for the second quarter and half-year ended September 30, 2023. The company also addressed fines imposed by the Bombay Stock Exchange (BSE) for delayed filing of governance reports.

Financial Performance

The company reported the following key financial metrics for Q2 and H1:

Particulars (Rs. in lakhs)	Q2 FY2024	Q1 FY2024	Q2 FY2023	H1 FY2024	H1 FY2023
Revenue from Operations	4,834.98	4,756.88	5,118.60	9,591.86	9,379.35
Total Income	4,866.67	4,772.21	5,138.23	9,638.88	9,412.12
Total Expenses	4,824.75	4,663.29	4,901.50	9,488.08	9,083.60
Profit Before Tax	41.88	108.92	236.73	150.80	328.52
Net Profit	30.15	80.37	156.05	110.52	222.70
EPS (Basic & Diluted)	2.31	6.15	11.94	8.45	17.04

Key Highlights

The company's revenue from operations for H1 FY2024 increased marginally to Rs. 9,591.86 lakhs compared to Rs. 9,379.35 lakhs in H1 FY2023.
Net profit for H1 FY2024 decreased to Rs. 110.52 lakhs from Rs. 222.70 lakhs in the corresponding period of the previous year.
The Board of Directors approved these results in a meeting held on November 14, 2023.

BSE Compliance Fine

Sangal Papers addressed fines imposed by BSE for delayed filing of the Integrated Filing-Governance Report for the quarter ended June 30, 2023. The company provided the following information:

A fine of Rs. 10,000 was imposed under Regulation 27(2) of SEBI (LODR) Regulations, 2015.
An additional fine of Rs. 5,000 was imposed under Regulation 13(3).
The company has filed waiver applications for both fines through the BSE Listing Center, which are currently under process with the listing operations team.

The Board of Directors clarified that the Integrated Filing-Governance Report for the quarter ended June 30, 2023, was filed on July 9, 2023. However, due to an unintentional error, the XBRL file for the quarter ended March 31, 2023, was attached instead of the correct file for June 30, 2023. The company corrected this error by filing the correct XBRL file on August 4, 2023, immediately upon notification from BSE.

Auditor's Review

RAJ VIYOM & CO., Chartered Accountants, conducted a limited review of the financial results. The auditors stated that based on their review, nothing has come to their attention that causes them to believe that the financial results do not present a true and fair view in accordance with applicable accounting standards and other recognized accounting practices and policies.

Investors and stakeholders are advised to consider these results and the company's explanations regarding the BSE fines when making investment decisions.

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Sangal Papers Limited , a prominent player in the paper industry, has reported a robust financial performance for the quarter ended June 30, 2025, alongside significant corporate governance updates.

Financial Highlights

The company's unaudited financial results for Q1 FY2026 reveal a strong year-on-year growth:

Particulars (Rs. in lakhs)	Q1 FY2026	Q1 FY2025	YoY Change
Revenue from Operations	4,756.88	4,260.85	11.6%
Total Income	4,772.21	4,273.89	11.7%
Profit Before Tax	108.92	91.79	18.7%
Profit for the Period	80.37	66.64	20.6%

Sangal Papers witnessed a significant 11.6% increase in revenue from operations, rising to Rs 4,756.88 lakhs from Rs 4,260.85 lakhs in the same quarter last year. The company's profit for the period also saw a substantial boost, climbing 20.6% to Rs 80.37 lakhs compared to Rs 66.64 lakhs in the previous year's corresponding quarter.

Corporate Governance Updates

The Board of Directors, in their meeting held on August 13, 2025, approved several key appointments and reappointments:

Director Reappointments: The board recommended the reappointment of Vinayak Sangal and Tanmay Sangal as directors, who are set to retire by rotation.
Executive Leadership: Himanshu Sangal has been reappointed as Managing Director, and Amit Sangal as Executive Director, both for five-year terms from April 1, 2026, to March 31, 2031, subject to shareholder approval.
Auditor Appointments:
- D.K. Gupta & Co. appointed as secretarial auditor for five years (FY 2025-2026 to FY 2029-2030)
- S.R. Kapur appointed as cost auditor for FY 2025-2026
- Anurag Chauhan appointed as internal auditor for FY 2025-2026

Annual General Meeting

The 45th Annual General Meeting (AGM) of Sangal Papers Limited is scheduled for September 26, 2025, at 1:30 PM IST via video conferencing. The company will provide remote e-voting facilities to shareholders, with the cut-off date set as September 19, 2025.

Closing Remarks

The strong financial performance, coupled with the reappointment of key leadership and the introduction of new auditors, signals Sangal Papers' commitment to growth and robust corporate governance. As the company prepares for its upcoming AGM, shareholders and market watchers will be keen to see how these developments translate into long-term value creation.