JK Paper Limited has announced the resignation of a senior management personnel under regulatory disclosure requirements. The company informed stock exchanges about the departure of a key executive from its digital and information technology division.

Executive Departure Details

Shri Subhendu Kesh, who served as Head-Digital & IT and Senior Management Personnel, has resigned from his position effective from close of business hours on 6th March 2026. The resignation was formally communicated to the company through a letter dated 1st December 2025.

Reason for Resignation

According to the resignation letter, Kesh decided to pursue opportunities outside the company to explore new challenges. He emphasized that his decision was not driven by any material issues with the company but rather represented a personal choice for career advancement.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. JK Paper Limited confirmed that there are no other material reasons beyond those mentioned by the employee for his resignation. The company provided the complete resignation letter as an annexure to ensure transparency in the disclosure process.

Formal Communication

The resignation was accepted on 6th March 2026, with the employee being relieved of his responsibilities on the same day. Company Secretary & Compliance Officer Pradeep Joshi signed the regulatory filing, ensuring proper documentation and compliance with listing requirements.

JK Paper Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, following a board meeting held on February 5, 2026. The paper manufacturing company reported a significant decline in profitability despite improved EBITDA performance, with results impacted by planned maintenance shutdowns, competitive import pressure, and currency fluctuations.

Financial Performance Overview

The company's standalone financial results revealed contrasting trends with improved operational efficiency metrics offsetting substantial profit decline:

Operational Challenges Impact Results

The company's management attributed the performance decline to three primary factors. Planned annual shutdowns at two major manufacturing plants in Odisha and Gujarat led to reduced production capacity during the quarter. Additionally, continued imports at cheaper rates resulted in lower sales realization, pressuring the company's pricing power in the domestic market.

Finance costs increased significantly to ₹37.09 crores in Q3FY26 from ₹16.96 crores in Q3FY25, primarily due to sharp rupee depreciation against the Euro. For the nine-month period, finance costs rose to ₹141.24 crores compared to ₹107.12 crores in the previous year.

Consolidated Performance Shows Mixed Results

On a consolidated basis, the company reported revenue growth but continued profit decline, reflecting contributions from newly acquired subsidiaries:

New Labour Codes Impact

The Government of India notified four Labour Codes effective from November 21, 2025. Based on draft Central Rules and FAQs issued by the Ministry of Labour & Employment, the company assessed an incremental impact towards retiral obligations at ₹11.85 crores on standalone basis and ₹14.36 crores on consolidated basis, disclosed as exceptional items.

Business Expansion and Acquisitions

Despite operational challenges, JK Paper continued its expansion strategy through strategic acquisitions. The company acquired 65.65% equity shares in Borkar Packaging Private Limited on October 28, 2025, making it a subsidiary. Subsequently, the shareholding was increased to 71.96% during the quarter ended December 2025 through additional equity share subscriptions.

Corporate Restructuring Update

The company received approval from the National Company Law Tribunal, Ahmedabad on February 3, 2026, for its Composite Scheme of Arrangement involving multiple subsidiaries. The scheme involves the transfer of businesses between JK Paper Limited and its subsidiaries, with effective implementation pending filing of certified copies with the Registrar of Companies.