Ganga Papers India Limited has announced a significant inter-se share transfer between promoter group members, involving the gift of 4,32,000 equity shares representing 4.00% of the company's total paid-up capital. The transaction was completed on February 23, 2026, between brothers Sandeep Kanoria and Sanjay Kanoria, both part of the company's promoter group.

Transaction Details

The share transfer involved Sandeep Kanoria gifting his equity shares to his brother Sanjay Kanoria through an off-market inter-se transfer mechanism. The transaction details are summarized below:

Impact on Shareholding Pattern

The transaction has resulted in changes to the shareholding pattern of both promoter group members:

Regulatory Compliance

The company has fulfilled its regulatory obligations by filing the necessary disclosures under Regulation 7(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015. The disclosure forms were submitted on February 24, 2026, and communicated to BSE Limited where the company's shares are listed under scrip code 531813.

Company Secretary and Compliance Officer CS Yash Mishra has confirmed that the disclosures have been made available on the company's website at www.gangapapers.in . The transaction represents a family arrangement within the promoter group and does not involve any change in the overall promoter group shareholding in the company.

About the Promoters

Sandeep Kanoria, based in Pune, Maharashtra, continues to remain a significant promoter group member with an 11.84% stake post-transaction. Sanjay Kanoria, residing in Varanasi, Uttar Pradesh, has now become a direct shareholder in the company with a 4.00% stake. Both individuals are part of the promoter group and the transaction maintains the shares within the same group structure.

Ganga Papers India Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, presenting a mixed performance with revenue growth offset by declining profitability. The Board of Directors approved these results during their meeting held on February 05, 2026.

Quarterly Financial Performance

The company's Q3FY26 performance showed modest revenue growth alongside reduced profitability compared to the previous year period.

The quarter witnessed a significant decline in other income to ₹0.12 lacs from ₹3.49 lacs in Q3FY25. Total expenses increased marginally to ₹7,075.24 lacs compared to ₹7,005.96 lacs in the corresponding previous period.

Nine-Month Performance Analysis

The nine-month period ending December 31, 2025, demonstrated stronger revenue momentum while maintaining profitability challenges.

The nine-month revenue growth of 5.47% indicates sustained business momentum, though profitability remained under pressure with an 11.13% decline in net profit.

Cost Structure and Expenses

The company's expense analysis reveals key operational trends during Q3FY26:

• Cost of Material Consumed: ₹5,410.01 lacs (Q3FY26) vs ₹5,631.76 lacs (Q3FY25)
• Finance Costs: Increased significantly to ₹67.73 lacs from ₹30.24 lacs
• Other Expenses: Decreased to ₹1,219.58 lacs from ₹1,502.02 lacs
• Employee Benefits: Remained stable at ₹71.65 lacs vs ₹77.37 lacs

Finance costs more than doubled year-over-year, reflecting increased borrowing expenses, while the company managed to reduce other operational expenses substantially.

Corporate Governance and Compliance

The financial results underwent comprehensive review and approval processes. The Audit Committee reviewed the results before Board approval, and statutory auditors RAM K RAJ & ASSOCIATES conducted a limited review, issuing an unqualified review report. The company operates primarily in the paper manufacturing segment as a single business activity.

The paid-up equity share capital remained unchanged at ₹1,078.89 lacs with a face value of ₹10.00 per share. The trading window for designated persons will reopen 48 hours after the financial results declaration, in accordance with SEBI insider trading regulations.