Seshasayee Paper & Boards Limited has announced board approval for a postal ballot notice regarding key director appointments following its board meeting held on January 31, 2026. The postal ballot will seek shareholder approval for two significant appointments in compliance with SEBI Listing Regulations.

Board Approved Appointments

The board has approved the postal ballot notice for two director appointments. The first involves the re-appointment of Sri N Gopalaratnam as Whole-time Director, designated as Chairman, liable to retire by rotation. The second appointment concerns Sri Anurag Mishra, IFS, as Nominee Director on the board, also liable to retire by rotation.

Postal Ballot Process Details

The company will circulate the postal ballot notice to shareholders whose names appear on the Register of Members and List of Beneficial Owners. The notice will be distributed via e-mail and will contain detailed information about both appointments, explanatory statements, and voting procedures.

Regulatory Compliance

The appointments have been made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Sri Anurag Mishra has been nominated to the board by the Government of Tamil Nadu, replacing Sri Ashish Kumar Srivastava, IFS. The company has confirmed that Sri Mishra is not related to any other director on the board under Section 2(77) of the Companies Act, 2013, and is not debarred from holding the office of director by any regulatory authority including SEBI.

The appointments strengthen the company's board composition, with Sri Mishra bringing expertise in environment and climate change matters, aligning with the company's operational requirements in the paper and boards manufacturing sector.

Seshasayee Paper and Boards Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025. The paper manufacturing company's performance showed mixed results with revenue declining year-over-year while maintaining profitability levels.

Financial Performance Overview

The company's standalone financial results revealed a revenue contraction in Q3 FY26. Revenue from operations decreased to ₹386.81 crores compared to ₹431.27 crores in Q3 FY25. Despite the revenue decline, the company maintained its profitability with net profit after tax of ₹15.53 crores, marginally lower than ₹15.81 crores recorded in the same quarter last year.

Nine-Month Performance Analysis

For the nine months ended December 31, 2025, the company reported revenue from operations of ₹1118.39 crores compared to ₹1251.83 crores in the corresponding period of the previous year. Net profit after tax for the nine-month period stood at ₹50.39 crores against ₹78.93 crores in the previous year, showing a significant decline.

Consolidated Results

The consolidated financial results, which include the company's subsidiary and associate, showed quarterly revenue from operations of ₹386.88 crores in Q3 FY26 compared to ₹431.33 crores in Q3 FY25. Consolidated net profit after tax was ₹18.64 crores versus ₹16.63 crores in the previous year's corresponding quarter, reflecting a positive growth.

Cost Structure and Operational Metrics

The company's cost of materials consumed decreased to ₹270.57 crores in Q3 FY26 from ₹278.60 crores in Q3 FY25. Employee benefits expense remained relatively stable at ₹23.58 crores compared to ₹25.76 crores in the previous year. Power and fuel costs declined to ₹48.96 crores from ₹60.49 crores, indicating improved operational efficiency.

Corporate Developments

The company continues its efforts regarding the assets acquired from Servalakshmi Paper Limited through the NCLT-approved e-auction process dated May 12, 2023. The company is taking steps for revival, refurbishment and recommencement of operations of these assets, though some appeals challenging the NCLT order remain pending at NCLAT.

Board Approval and Compliance

The unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors at meetings held on January 30, 2026 and January 31, 2026. The results comply with Regulation 33 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company maintains its paid-up equity share capital of ₹12.04 crores with a face value of ₹2 per share.