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

Ballarpur Industries has announced a board meeting. The Board approved the consolidated financial results for the quarters ended June, September, December 2023, and the audited results for the year ended March 31, 2024. The new management, post-NCLT resolution plan, has raised funds primarily via issuance of Non-Convertible Debentures (totaling over ₹550 Cr) and plans to monetize old inventory and assets to improve cash flows. The share capital was restructured, reducing from ₹258.7 Cr to ₹55 Cr with fresh shares issued. Key subsidiaries and associates face operational and reporting challenges, with several financials unaudited or unsigned, affecting full consolidation. The company continues as a going concern based on management’s cash flow outlook despite ongoing legacy audits and data gaps.