N R Agarwal Industries Limited (NRAIL), a prominent player in the paper industry, has successfully resumed operations at its Vapi unit in Gujarat following a recent fire incident. The company made this announcement in a regulatory filing to the stock exchanges on September 29, 2025.

Resumption of Operations

According to the company's statement, Unit I of the Vapi plant has become operational effective September 29, 2025. This development comes after a temporary halt in production due to a fire incident that occurred at the facility.

Background of the Incident

The fire incident at NRAIL's Vapi unit was initially reported to the stock exchanges on September 20, 2025. While the exact details of the fire and its impact were not disclosed in the available information, the swift resumption of operations suggests that the company has managed to address the situation effectively.

Regulatory Compliance

N R Agarwal Industries has duly informed the BSE Limited and the National Stock Exchange of India Ltd. about the resumption of operations, adhering to Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015.

Company Overview

N R Agarwal Industries Limited, with its registered office in Mumbai, is known for its presence in the paper manufacturing sector.

The timely resumption of operations at the Vapi unit is likely to be viewed positively by stakeholders, as it minimizes potential disruptions to the company's production and supply chain.

N R Agarwal Industries Limited has taken a significant step in restructuring its collateral arrangement with Punjab National Bank. The company has accepted a sanction letter from the bank to convert the existing pledge on promoters' shares into a Non-Disposal Undertaking (NDU) as collateral for a term loan.

Key Details of the Conversion

• Original Arrangement: Promoters' shares were pledged as collateral for a term loan from Punjab National Bank.
• New Arrangement: The pledge will be converted into a Non-Disposal Undertaking (NDU).
• Status: N R Agarwal Industries has accepted the sanction letter from Punjab National Bank.
• Outcome: Upon completion of necessary formalities, the existing pledge will be released and substituted with the NDU.

Timeline and Disclosure

• Initial Intimation: The company had previously informed about this development.
• Acceptance Date: The sanction letter was accepted.
• Disclosure: This information was disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Implications of the Conversion

The conversion from a share pledge to a Non-Disposal Undertaking represents a change in the nature of the collateral arrangement. While the pledged shares could potentially be sold by the lender in case of default, an NDU typically restricts the promoters from selling their shares without the lender's consent, but does not give the lender direct claim over the shares.

Additional Company Updates

In a separate announcement on the same day, N R Agarwal Industries also informed about the closure of its trading window:

• Trading Window Closure: Effective from a specified date
• Duration: Until 48 business hours after the board meeting that will consider the unaudited financial results for a specific quarter
• Reason: Compliance with SEBI regulations and the company's Code of Conduct to prevent insider trading

This move indicates that the company is preparing for its quarterly financial review and is taking necessary steps to ensure fair trading practices.

N R Agarwal Industries Limited continues to maintain transparency in its corporate actions and regulatory compliance.