Shree Rama Newsprint Limited has responded to clarification requests from stock exchanges regarding recent price movements in its shares. The company submitted its response on February 28, 2026, addressing queries raised by both BSE and NSE on February 27, 2026.

Exchange Communication Details

The company's response was directed to both major Indian stock exchanges where its shares are listed:

Company's Official Position

Shree Rama Newsprint Limited clarified that it has maintained full compliance with disclosure requirements under SEBI regulations. The company emphasized that all material information and announcements that could impact operations or performance have been disclosed to the exchanges in a timely manner.

The response highlighted several key points regarding the company's disclosure practices:

• All necessary disclosures made in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
• Information disclosed within stipulated timeframes
• All material announcements available in public domain
• No undisclosed or pending information that could influence stock price

Market-Driven Price Movement

The company categorically stated that the recent share price movement is purely market-driven. Management confirmed there is no pending material information awaiting disclosure that could have bearing on the stock's price performance.

Corporate Details

The response was signed by Company Secretary Shubham Ajmera (Membership No. A76790) and digitally authenticated on February 28, 2026. The company operates from its registered office and manufacturing plant in Village Barbodhan, Taluka Olpad, District Surat, Gujarat, with a marketing office in Mumbai.

The clarification demonstrates the company's commitment to transparency and regulatory compliance while addressing market concerns about stock price volatility.

Shree Rama Newsprint Limited has secured a favorable ruling in its appeal against an order passed by Collector Surat, with the Appellate Authority quashing the disputed order and remanding the matter for fresh consideration.

Appellate Authority Ruling

The Special Secretary (Disputes), Government of Gujarat, serving as the Appellate Authority, issued an order dated 06.02.2026 that was received by the company on 09.02.2026. The ruling quashed the impugned order dated 01.05.2025 passed by Collector Surat and ordered the matter to be remanded back to the Collector for reconsideration.

Background of the Dispute

The company had challenged the order dated 01.05.2025 passed by Collector Surat before the Hon'ble Secretary (Dispute) Revenue Department, Government of Gujarat. This appeal was filed in continuation of the company's earlier communications to the stock exchanges dated 11.11.2025, 16.07.2025, and 16.05.2025, indicating an ongoing legal matter.

Regulatory Compliance

Shree Rama Newsprint Limited has fulfilled its disclosure obligations under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided comprehensive details as required under sub-para 20 of Para A of Part A of Schedule III of the SEBI Listing Regulations.

Impact Assessment

According to the regulatory filing, the company has indicated that there are no specific violations or contraventions committed or alleged to be committed in this matter. Additionally, the company has stated that there is no quantifiable impact on its financial, operational, or other activities in monetary terms at this stage.

The favorable appellate ruling represents a positive development for the newsprint manufacturer, as it successfully challenged the Collector's original order and secured a remand for fresh consideration of the matter.