Banganga paper industries Limited has strengthened its leadership team with the appointment of Mr. Swaminathan Muralidharan as Additional Director (Executive), effective January 28, 2026. The appointment was formalized through a board resolution passed by circulation on the same date.

Board Resolution and Regulatory Compliance

The company's Board of Directors approved the appointment in accordance with Section 161 of the Companies Act, 2013, and applicable provisions of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The appointment follows confirmation that Mr. Muralidharan is not disqualified from holding directorship under the Companies Act, 2013 or any SEBI regulations.

Director Profile and Experience

Mr. Muralidharan brings extensive experience in corporate management and administration to Banganga Paper Industries. His professional background includes strategic planning, operational oversight, and governance compliance across various senior roles in different companies.

Terms of Appointment

The appointment is subject to terms and conditions, including remuneration, as approved by the Board of Directors. Mr. Muralidharan will hold office until the date of the ensuing Annual General Meeting and remains eligible for re-appointment thereafter.

Company Background

Banganga Paper Industries Limited, formerly known as Inertia Steel Limited, operates under CIN L51900MH1984PLC033082. The company is headquartered in Nashik, Maharashtra, with its registered office located at Sr. No. 186, Gavalwadi Road, Ashewadi, Ramshej.

The appointment reflects the company's commitment to strengthening its executive leadership and governance structure as it continues its business operations in the paper industry.

Banganga paper industries experienced notable volatility during Tuesday's trading session, initially posting gains in the morning before retreating amid broader market weakness. The small-cap stock, trading below ₹50, demonstrated resilience in early trading despite weak market sentiments before succumbing to selling pressure.

Trading Performance and Market Movement

The stock's intraday performance reflected the broader market volatility experienced during the session:

The stock initially gained momentum in the early morning session, touching an intraday high of ₹47.39 per share. However, as the broader stock market sell-off gathered pace, the stock pared its gains and slipped 1.51% to close at ₹46.25. No fresh fundamental triggers were identified as the cause of the day's volatility.

Major Corporate Restructuring Approved

In a significant development, the company announced that shareholders approved several major changes during an Extraordinary General Meeting held on January 14. The comprehensive restructuring includes multiple strategic shifts that will transform the company's identity and business focus.

Key Approved Changes

The shareholders approved the following major modifications to the company structure:

Business Transformation

The most significant change involves a complete business pivot. The company amended its object clause to focus on manufacturing, distilling, brewing, fermenting, bottling, blending, processing, packaging, marketing, trading, importing, exporting, and dealing in all kinds of alcoholic and non-alcoholic beverages. This represents a strategic shift from its previous paper industry focus to the alcoholic beverage sector.

Stock Performance Analysis

The stock has faced considerable pressure in recent trading sessions, reflecting broader market challenges and possibly investor uncertainty regarding the major corporate changes:

Despite recent weakness, the stock has proven to be a multibagger investment over the longer term, delivering impressive returns of over 449% in the last five years. The stock is listed exclusively on the BSE and has established a 52-week trading range between ₹38.00 (November 6 low) and ₹90.27 (March 28 high).