Banganga Paper Industries Limited has strengthened its Board of Directors with the appointment of two seasoned industry professionals as Independent Directors. The appointments were approved during a Board meeting held on December 16, 2025, following recommendations from the company's Nomination and Remuneration Committee.

Board Appointments

The company has appointed the following individuals as Additional Directors in the category of Independent Directors:

Terms of Appointment

Both directors have been appointed under specific terms that align with regulatory requirements:

Professional Background

Mr. Venkatesh Prabhu

Mr. M.S. Venkatesh Prabhu brings over four decades of experience in the brewery, distillery, and ethanol plant EPC sector in India and globally. As the Founder Chairman of VP Global Holdings Pvt. Ltd., he is regarded as a pioneer in setting up several breweries and distilleries across India. His extensive career includes senior leadership positions with multinational organizations including United Breweries Ltd., Shaw Wallace Company Ltd., Belawadi Group, and Yuksom Breweries Pvt. Ltd. An engineer by profession, he has a strong track record in visionary leadership, strategic planning, and execution of greenfield and brownfield projects.

Mr. Ravindranathan M

Mr. Ravindranathan M is a senior brewery consultant with over five decades of experience in the brewing industry. His expertise covers brewery operations, production, quality management, and project execution in India and overseas. He has held senior leadership and plant head roles with leading brewing organizations including United Breweries Group, Shaw Wallace Group, Sona Group (Nigeria), and Champion Breweries Plc. A chemistry graduate by qualification, he is widely recognized for his expertise in commissioning greenfield breweries, reviving sick units, capacity expansion, and new product development. He has played a key role in the successful execution and stabilization of multiple brewing projects.

Regulatory Compliance

The appointments have been made in accordance with:

• Applicable provisions of the Companies Act, 2013
• SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
• Regulation 30 disclosure requirements
• SEBI Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024

The company has confirmed that both individuals are not debarred from holding the office of Directors by virtue of SEBI order or any other such authority. Neither director is related to any existing Director on the Board of the Company.

Meeting Details

The Board meeting commenced at 3:00 PM and concluded at 7:45 PM on December 16, 2025. The appointments were disclosed to BSE Limited in compliance with applicable listing regulations and will require formal approval from shareholders at the company's next General Meeting.

Banganga Paper Industries Limited (BPIL) has released its financial results for the second quarter of the fiscal year 2026, showcasing a mixed performance across its consolidated and standalone operations.

Consolidated Performance

BPIL reported a consolidated net profit of ₹20.98 lakh for Q2 FY2026, demonstrating the company's ability to maintain profitability at the group level. The consolidated revenue stood at ₹2,412.03 lakh, marking a significant increase from ₹1,687.89 lakh in the same quarter of the previous year.

Standalone Operations

In contrast to the consolidated results, BPIL's standalone operations recorded a loss of ₹3.14 lakh for the quarter. This divergence highlights the varying performances within the company's structure.

Key Financial Highlights

Subsidiary Performance

The substantial growth in consolidated revenue can be primarily attributed to the operations of Banganga Paper Mills Limited, a subsidiary of BPIL. This subsidiary appears to be a key driver of the group's overall financial performance.

Management Actions

As per the LODR data, the Board of Directors convened on November 15, 2025, to approve the unaudited financial results for the quarter ended September 30, 2025. The board meeting, which commenced at 4:00 PM and concluded at 8:45 PM, also authorized Mr. Chetan Karbhari Dhatrak, a director of the company, to sign the statement of unaudited financial results.

Compliance and Transparency

BPIL, formerly known as Inertia Steel Limited, continues to adhere to regulatory requirements by promptly disclosing its financial results and board meeting outcomes. This transparency is crucial for maintaining investor trust and complying with SEBI regulations.

The contrasting results between consolidated and standalone operations suggest that while the group as a whole is profitable, there may be challenges at the parent company level. Investors and analysts may want to closely monitor the performance of individual entities within the group in future quarters to better understand the dynamics driving these mixed results.