Sandesh Jaju Reduces Stake in BJ Duplex Boards Limited to 0.28% Through Off-Market Sale

1 min read Updated on 26 Feb 2026, 10:53 AM

Reviewed by

Riya DScanX News Team

Overview

Sandesh Jaju disposed of 9,45,000 equity shares (4.96%) of BJ Duplex Boards Limited through off-market transfer on February 23, 2026, reducing his shareholding from 5.25% to 0.28%. The transaction was disclosed under SEBI takeover regulations, with the company's total equity capital remaining at 19028500 shares. Jaju is not associated with the promoter group of the BSE-listed company.

*this image is generated using AI for illustrative purposes only.

Sandesh Jaju has executed a significant disposal of his shareholding in BJ Duplex Boards Limited through an off-market transfer on February 23, 2026. The transaction involved the sale of 9,45,000 equity shares, each with a face value of Re. 1/-, representing 4.96% of the company's paid-up share capital.

Transaction Details

The disposal was disclosed to BSE Limited under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The transaction details are summarized below:

Parameter:	Details
Shares Disposed:	9,45,000 equity shares
Percentage Disposed:	4.96%
Transaction Mode:	Off-market transfer
Transaction Date:	February 23, 2026
Face Value per Share:	Re. 1/-

Shareholding Changes

The disposal has resulted in a substantial reduction in Jaju's stake in BJ Duplex Boards Limited. His shareholding position before and after the transaction shows a significant decrease:

Holding Period:	Number of Shares	Percentage Holding
Before Disposal:	10,00,000 shares	5.25%
After Disposal:	55,000 shares	0.28%
Shares Disposed:	9,45,000 shares	4.96%

Regulatory Compliance

The disclosure was made in compliance with SEBI regulations governing substantial acquisition and disposal of shares. The transaction required mandatory disclosure as it involved a disposal exceeding the threshold limits specified under the takeover regulations. The formal disclosure was submitted to both BSE Limited and the company's compliance officer as per regulatory requirements.

B J Duplex Boards Reports Widened Q3FY26 Loss of ₹27.80 Lakhs

2 min read Updated on 13 Feb 2026, 03:27 PM

Reviewed by

Radhika SScanX News Team

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Overview

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.