Sundaram Multi Pap Limited has announced a board meeting scheduled for March 5, 2026, at 11:00 AM to address the formal withdrawal of a significant share swap transaction by Sundaram Land and Assets Private Limited (SLAPL). The meeting follows SLAPL's official communication dated February 27, 2026, expressing its decision not to proceed with the previously approved transaction.

Regulatory Compliance and Meeting Details

In compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has formally notified BSE Limited and National Stock Exchange of India Limited about the board meeting. The notification was signed by Managing Director & Chairman Amrut Premji Shah and submitted to both exchanges on February 28, 2026.

Original Transaction Structure

The proposed transaction involved the issuance of 7,04,00,000 equity shares of Sundaram Multi Pap Limited at ₹3.35 per share, approved by shareholders at the Extraordinary General Meeting held on November 12, 2025. Through this share swap mechanism, the company intended to acquire a 52.38% stake in SLAPL.

Market Conditions and Price Impact

SLAPL's board cited material changes in prevailing market conditions as the primary reason for withdrawal. The most significant factor was the substantial decline in Sundaram Multi Pap's share price, which dropped from the originally proposed swap price of ₹3.35 per share to ₹1.52 per share as of February 27, 2026.

SLAPL's Formal Position

In its official communication to Sundaram Multi Pap's Board of Directors, SLAPL stated that after due deliberation and in the interest of safeguarding shareholder value, the board resolved not to proceed with the proposed transaction in its current form. The company emphasized that the effective economic value of the originally proposed share swap consideration had materially reduced when compared to prevailing market indicators, including the 52-week price range of SMPL shares.

SLAPL attributed the withdrawal to delays in obtaining requisite approvals and expressed openness to evaluating future proposals that may be mutually beneficial and commercially aligned, subject to fresh consideration and approvals as required.

Board Meeting Agenda and Next Steps

The board meeting will focus on considering and evaluating SLAPL's withdrawal communication and determining appropriate decisions in relation to the withdrawal. The company has committed to intimating the stock exchanges about the board meeting outcome in accordance with applicable regulations. This development represents a significant shift in the company's expansion strategy and may require reassessment of its growth plans involving SLAPL.

Sundaram Multi Pap Limited has announced the successful completion of its board meeting held on February 14, 2026, where key financial results were approved for the third quarter of fiscal year 2026. The meeting took place at the company's premises located at 5/6 Papa Industrial Estate, Suren Road, Andheri (East), Mumbai, spanning three hours from 11:00 AM to 2:00 PM.

Board Meeting Details and Venue

The board meeting was conducted under the leadership of Chairman & Managing Director Amrut P Shah, who holds DIN 00033120. The meeting was held in compliance with regulatory requirements and followed the intimation submitted to stock exchanges on February 6, 2026.

Financial Results Approval

The primary agenda of the board meeting focused on the consideration and approval of unaudited standalone financial results. The directors approved the financial performance data for both the quarter and nine months ended December 31, 2025, marking the completion of Q3 FY26 reporting requirements.

The financial results were prepared in accordance with applicable accounting standards and were accompanied by a Limited Review Report issued by the company's auditors. This approval ensures compliance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance and Documentation

The company has fulfilled its regulatory obligations by formally communicating the board meeting outcome to both BSE Limited and National Stock Exchange of India Limited. The communication was digitally signed by Chairman & Managing Director Amrut P Shah on February 14, 2026, at 14:09:27 +05'30', ensuring proper documentation and timestamp verification.

The approval of these unaudited standalone financial results represents a significant milestone in the company's quarterly reporting cycle, providing stakeholders with updated financial information for the third quarter and nine-month period of fiscal year 2026.