Ballarpur Industries Limited — Board Meeting, 17-06-2025: Outcome of Board Meeting

Ballarpur Industries Limited has announced a board meeting on various unaudited consolidated financial results up to Q4FY24 and audited consolidated results for FY24. The new management, post-NCLT-approved resolution plan, has restored solvency through asset sales and fresh fundraise via Non-Convertible Debentures (NCDs) worth ₹326.25 Cr (3-year, 7% coupon) and ₹94 Cr (5-year, 0% coupon with 9% IRR). Significant equity restructuring reduced share capital to ₹55 Cr (face value ₹10). Despite audit qualifications due to incomplete financial data from subsidiaries and ongoing reconciliations, the company assumes going concern status. Key operational subsidiaries remain non-performing or undergoing liquidation, with consolidated results prepared on available info. Exceptional items include a ₹66 Cr impairment on land revaluation and ₹498 Cr liability write-off under the resolution plan. The company continues efforts to resolve legacy issues like incomplete MSME dues and dormant bank accounts.