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RAMANEWS - Shree Rama News.

📊 NSE: RAMANEWS 🏢 Miscellaneous 📅 Last Updated: 12/14/2025 13:17

📢 Recent Corporate Announcements

Shree Rama Newsprint Clarifies on Price Movement; No Undisclosed Information

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 28 Feb 2026, 06:52 PM

Shree Rama Newsprint Limited (RAMANEWS) has responded to a clarification request from the BSE and NSE regarding recent significant price movements in its shares. The company stated that it has disclosed all material information and events to the exchanges as per SEBI Regulation 30. Management confirmed there is no pending or undisclosed information that could impact the stock price. Consequently, the company attributes the recent volatility entirely to market-driven factors rather than internal developments.

Exchange sought clarification on February 27, 2026, regarding significant price volatility.
Company responded on February 28, 2026, denying any undisclosed material information.
Management confirmed compliance with all necessary disclosures under SEBI LODR Regulations.
The price movement is categorized by the company as purely market-driven.

💡 Investors should exercise caution as the recent price volatility is not supported by any new fundamental developments or corporate announcements. Monitor the stock for speculative activity and focus on upcoming quarterly results for fundamental direction.

Shree Rama Newsprint Wins Appeal; Surat Collector's Order Quashed and Remanded

🟢 POSITIVE ⭐ 5/10

LEGAL 📅 09 Feb 2026, 05:16 PM

Shree Rama Newsprint Limited has received a favorable ruling from the Special Secretary (Disputes) of the Gujarat Revenue Department. The Appellate Authority has quashed a previous order dated May 1, 2025, which was issued by the Collector of Surat. The matter has now been remanded back to the Collector for fresh consideration. While the company states the financial impact is not currently quantifiable, the reversal of the previous adverse order is a positive procedural development.

Appellate Authority quashed the Collector of Surat's order dated May 1, 2025
The matter has been remanded back to the Collector for a fresh hearing and decision
Order from the Special Secretary (Disputes) was officially received on February 9, 2026
Company previously disclosed related intimations on May 16, July 16, and November 11, 2025

💡 Investors should view this as a positive legal development that removes an immediate adverse order, but should continue to monitor the outcome of the remanded proceedings at the Collector's level.

Shree Rama Newsprint Independent Director Kanhaiyalal Chandak Completes Final Term

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 08 Feb 2026, 12:28 PM

Mr. Kanhaiyalal Chandak has ceased to be an Independent Director of Shree Rama Newsprint Limited effective February 8, 2026. This change occurs as he has completed his second and final term in the role, in compliance with corporate governance norms. The company has formally placed on record its appreciation for his contributions during his tenure. This is a scheduled transition and does not reflect any internal conflict or resignation.

Independent Director Kanhaiyalal Chandak completed his second and final term on Feb 8, 2026.
Cessation of directorship is effective from the close of business hours on the same date.
The move is in accordance with Regulation 30 of SEBI (LODR) Regulations, 2015.
The company is now expected to fill the vacancy to maintain board independence ratios.

💡 No immediate action is required as this is a routine regulatory exit. Investors should watch for the appointment of a successor to ensure continued board oversight.

Shree Rama Newsprint Q3 Net Loss at ₹10.16 Cr; Auditor Flags Going Concern Uncertainty

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 07 Feb 2026, 03:34 PM

Shree Rama Newsprint reported a total comprehensive loss of ₹10.16 crore for the quarter ended December 31, 2025, compared to a loss of ₹80.61 crore in the previous year's corresponding quarter which was impacted by heavy impairment. Revenue from operations declined 28.8% YoY to ₹8.84 crore, while finance costs of ₹9.29 crore remain a significant burden. Most critically, the statutory auditor has issued a 'Material Uncertainty Related to Going Concern' warning as the company's current liabilities exceed its current assets by ₹116.75 crore. The company is currently attempting to improve its financial position by disposing of assets from its discontinued paper division on a piecemeal basis.

Revenue from operations fell to ₹8.84 crore in Q3 FY26 from ₹12.43 crore in Q3 FY25
Net loss for the nine months ended December 31, 2025, stands at ₹30.65 crore
Current liabilities exceed current assets by ₹116.75 crore as of December 31, 2025
Finance costs for the quarter were ₹9.29 crore, exceeding the total revenue from operations
Appointed Mr. Harshadbhai Baldevbhai Patel as an Independent Director for a 5-year term

💡 Investors should exercise extreme caution as the auditor's 'Going Concern' warning indicates a high risk of insolvency. The company's survival is heavily dependent on the successful and timely liquidation of non-core assets to bridge the ₹116.75 crore liability gap.

Shree Rama Newsprint Q3 FY26: Revenue Falls to ₹8.84 Cr, Net Loss at ₹10.16 Cr

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 07 Feb 2026, 12:08 PM

Shree Rama Newsprint Limited reported a significant decline in revenue from operations to ₹884.28 lakhs for the quarter ended December 31, 2025, down from ₹1,243.03 lakhs in the previous year. The company posted a total comprehensive loss of ₹1,016.50 lakhs for the quarter, contributing to a nine-month loss of ₹3,065.01 lakhs. Auditors have raised a 'Material Uncertainty Related to Going Concern' as current liabilities exceed current assets by ₹11,675.13 lakhs. The company is currently attempting to improve its financial position by disposing of assets from its discontinued Paper Division.

Revenue from operations decreased 28.8% YoY to ₹884.28 lakhs from ₹1,243.03 lakhs.
Total comprehensive loss for the quarter stood at ₹1,016.50 lakhs compared to a loss of ₹8,060.70 lakhs in the same quarter last year (which included a large impairment).
Current liabilities exceed current assets by ₹11,675.13 lakhs, triggering a 'Going Concern' warning from auditors.
Finance costs remain high at ₹928.90 lakhs for the quarter, nearly equal to the total revenue.
The company appointed Mr. Harshadbhai Baldevbhai Patel as an Additional Independent Director for a 5-year term.

💡 Investors should exercise extreme caution as the auditor's 'going concern' warning and the massive liability-asset mismatch indicate high financial risk. The company's survival is heavily dependent on the successful piecemeal sale of its discontinued Paper Division assets.

Shree Rama Newsprint Q3 Net Loss at ₹10.16 Cr; Auditor Flags Going Concern Uncertainty

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 07 Feb 2026, 12:01 PM

Shree Rama Newsprint reported a net loss of ₹10.16 crore for Q3 FY26, an improvement from the ₹80.61 crore loss in Q3 FY25 which was hit by heavy impairment. However, revenue from operations dropped 28.8% YoY to ₹8.84 crore, and the company continues to face severe financial distress. The statutory auditor has raised a 'going concern' warning as current liabilities exceed current assets by ₹116.75 crore. The company is currently liquidating its discontinued paper division assets piecemeal to meet obligations.

Revenue from operations decreased to ₹884.28 lakhs from ₹1,243.03 lakhs YoY
Net loss for the nine months ended Dec 2025 reached ₹3,065.01 lakhs
Current liabilities exceed current assets by a substantial ₹11,675.13 lakhs
Auditor highlighted material uncertainty regarding the company's ability to continue operations
Appointment of Mr. Harshadbhai Baldevbhai Patel as Independent Director for 5 years

💡 The 'going concern' warning and massive liability gap make this a high-risk situation; investors should exercise extreme caution as the company relies on piecemeal asset sales to stay afloat.

Shree Rama Newsprint to Sell Paper Division Equipment for Rs 28 Lakhs

🟡 NEUTRAL ⭐ 4/10

OTHER 📅 06 Feb 2026, 07:48 PM

Shree Rama Newsprint Limited has announced the piecemeal disposal of equipment from its paper division to Mehali Papers Pvt. Ltd. for a total consideration of Rs 28.00 Lakhs. The paper division contributed only 1.87% (Rs 84.13 Lakhs) to the company's total revenue in FY25, though it accounted for 41.27% of other income. The sale is expected to be completed by March 31, 2026, following shareholder approval previously obtained in September 2023. This move appears to be part of a broader strategy to dispose of the company's undertaking amid a negative net worth of Rs 1409.80 Lakhs.

Sale of paper division plant and machinery for an aggregate amount of Rs 28.00 Lakhs plus GST
Paper division contributed 1.87% of total revenue and 41.27% of other income in FY25
Transaction expected to be completed by March 31, 2026
Company reported a negative net worth of Rs 1409.80 Lakhs as of March 31, 2025
Disposal approved by 99.56% of public shareholders in September 2023

💡 The transaction value is relatively small and unlikely to significantly impact the stock price; however, investors should monitor the company's overall restructuring plan given its negative net worth.

Shree Rama Newsprint to Sell Paper Division Equipment for Rs 2 Crore to Related Party

🟡 NEUTRAL ⭐ 6/10

M&A 📅 13 Jan 2026, 07:30 PM

Shree Rama Newsprint Limited has announced the piecemeal disposal of equipment from its paper division for a total consideration of Rs 2.00 Crores. The buyer, Bluecraft Agro Private Limited, is a related party as the company's Whole-Time Director, Siddharth Chowdhary, is also a director and shareholder there. The paper division contributed only 1.87% to the company's total revenue in FY25, though it accounted for 41.27% of other income. The transaction is expected to be completed by March 31, 2026, and follows shareholder approval obtained in September 2023.

Disposal of paper division plant and machinery for an aggregate amount of Rs 2.00 Crores plus GST.
The buyer, Bluecraft Agro Private Limited, is a related party to the company's Whole-Time Director.
Paper division contributed Rs 84.13 Lakhs (1.87%) to total revenue for the year ended March 31, 2025.
The company reported a negative net worth of Rs 1,409.80 Lakhs as of March 31, 2025.
Sale is expected to be completed by March 31, 2026, and is conducted at arm's length.

💡 Investors should note the company's efforts to monetize assets from an underperforming division, though the transaction size is small. Monitor the company's overall financial health given its negative net worth and the related-party nature of this asset sale.

Shree Rama Newsprint Announces Trading Window Closure from January 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 30 Dec 2025, 06:32 PM

Shree Rama Newsprint Limited has officially announced the closure of its trading window for all designated persons and their immediate relatives starting January 1, 2026. This move is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the company's Q3 financial results. The window will remain closed until 48 hours after the public announcement of the Unaudited Financial Results for the quarter ending December 31, 2025. This is a standard regulatory procedure to ensure market integrity before financial disclosures.

Trading window closure begins on January 1, 2026, for all designated persons.
The closure pertains to the Unaudited Financial Results for the quarter ending December 31, 2025.
Trading restriction remains in effect until 48 hours post-result announcement.
Compliance maintained under SEBI (Prohibition of Insider Trading) Regulations, 2015.

💡 No action is required as this is a routine regulatory filing. Investors should look out for the upcoming Q3 result date to assess the company's financial performance.

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💰 Financial Performance

Revenue Growth by Segment

The continuing business (Water Bottle division) reported an operating profit margin of 6.45%, an improvement of 25.92% YoY. The discontinued Paper division reported total income of INR 1.25 Cr for H1 FY26, down from INR 4.12 Cr for the full year FY25.

Geographic Revenue Split

Not disclosed in available documents, though operations are primarily focused on the Indian domestic market.

Profitability Margins

Operating profit margin for continuing business is 6.45% (up from 5.12%). Net profit margin is -64.84% (improved from -68.08%). Return on Equity (ROE) is -272%, a 548.20% variance from the previous period's -42% due to increased losses from discontinued operations.

EBITDA Margin

Operating profit margin of continuing business is 6.45%, which improved by 25.92% YoY due to decreased production costs and increased efficiency.

Capital Expenditure

Not disclosed in available documents, though the company is currently focused on the disposal of non-core assets rather than expansion.

Credit Rating & Borrowing

Debt coverage indicators are weak with negative interest coverage and total debt to PBILDT. Total borrowings stand at INR 376.43 Cr, including INR 350 Cr in non-current borrowings and INR 26.43 Cr in current borrowings.

⚙️ Operational Drivers

Raw Materials

Waste paper and coal are the primary raw materials, though specific percentage of total cost is not disclosed.

Capacity Expansion

Not disclosed in available documents, but the company has converted machines to manufacture Writing and Printing Paper (WPP) and Kraft paper.

Raw Material Costs

Raw material costs are a significant driver of losses; high waste paper and coal prices led to negative contributions at the operating level in the paper division.

Manufacturing Efficiency

Operating profit ratio improved by 25.92% mainly due to a decrease in cost of production and an increase in manufacturing efficiency.

📈 Strategic Growth

Growth Strategy

The company is pursuing a turnaround strategy involving the disposal of non-core assets (Paper division plant and machinery) to settle liabilities and exploring funding options to strengthen working capital. Future focus is on the Water Bottle division, currently the only operating segment.

Products & Services

Writing and Printing Paper (WPP), Kraft paper, Newsprint (discontinued), and Packaged Water Bottles.

Brand Portfolio

Shree Rama, living green.

New Products/Services

The Water Bottle division is the primary active operating segment as of June 30, 2025.

🌍 External Factors

Industry Trends

The industry is shifting away from newsprint toward WPP and Kraft paper due to digital disruption and import competition; the company is positioning itself by exiting the paper segment to focus on water bottles.

Competitive Landscape

Intense competition from cheap international imports of newsprint.

Competitive Moat

The company lacks a durable moat as evidenced by persistent losses and a material uncertainty regarding its status as a going concern.

Macro Economic Sensitivity

Highly sensitive to global and domestic demand-supply conditions and raw material price fluctuations.

Consumer Behavior

Shift in consumer behavior toward digital media has reduced the long-term demand for newsprint.

Geopolitical Risks

Threat of cheap imports of newsprint paper from international markets impacting domestic demand and pricing.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to changes in Government regulations, tax regimes, and pollution norms.

Environmental Compliance

Not disclosed in available documents, though the company uses 'living green' branding.

Taxation Policy Impact

Current tax rate is 0% as the company has not made any provision for income tax due to current losses, unabsorbed depreciation, and brought forward business losses.

Legal Contingencies

The company recognized an impairment loss of INR 69.56 Cr related to discontinued operations. No capital market-related penalties were reported in the last three years.

⚠️ Risk Analysis

Key Uncertainties

There is a material uncertainty that casts significant doubt on the company's ability to continue as a going concern, as current liabilities exceed current assets by INR 101.65 Cr.

Geographic Concentration Risk

Operations are concentrated in India, specifically Ahmedabad, Gujarat.

Technology Obsolescence Risk

The newsprint segment faces high obsolescence risk, which the company addressed by converting machines to WPP/Kraft before eventually discontinuing the division.