Binny Mills Reports Financial Results and Appoints Internal Auditor; Notes Detail Litigation Outcomes

Binny Mills Reports Financial Results and Appoints Internal Auditor; Notes Detail Litigation Outcomes​

Binny Mills Limited has announced its audited financial results for the quarter and year ended March 31, 2026, alongside the appointment of a new internal auditor for the fiscal year 2026-2027. The company's performance details include significant operational losses across both reported periods.

The Board of Directors, during its meeting held on May 22, 2026, reviewed and approved the financial results. Furthermore, the Board appointed M/s T Balaji and Associates, Chartered Accountants (FRN: 01413S) of Chennai, as the Internal Auditor for the financial year 2026-2027.

Operational and Governance Updates​

The appointment of the internal auditor details were provided by Binny Mills Ltd in an annexure outlining the firm’s profile. The company has a manufacturing capacity of 8 lakh metric tons (MT) per annum, with the Board noting that its current operational status includes running two plants in Chennai.

The audit reports provide insight into several critical areas:

• Litigation: A case filed against Binny Mills Ltd by Square Project Associates concerning arrears of rent for a Bengaluru showroom has been dismissed by the Civil Judge, Bengaluru.
• Labour Disputes: In another matter involving Binny Mills Ltd and B&C Mill Ltd, most demands raised by the Union were decided in favour of the Union by the Additional Labour Court, Chennai. The company made a provision for this award amounting to Rs 36.52 lakhs, though it has filed a stay against the decision.
• Related Party Loans: A loan granted by the company to a related party was extended for three years, and an additional loan aggregating to Rs 1.50 crores was provided. The management assessed that the credit risk of this loan had not significantly increased.

Financial Performance Snapshot​

The financial results for the year ended March 31, 2026, show a marked decline in profitability compared to the previous fiscal year. Revenue from operations stood at 855.66 crore and other income was reported at 903.20 lakh.

Key figures reflecting the company's performance are presented below:

Balance Sheet and Cash Flow Summary​

The company's financial position as of March 31, 2026, shows Total Equity at 258.33 crore, with Non-current Liabilities totaling 14.57091 crore.

A review of the cash flow statement reveals operational losses for the year ended March 31, 2026:

Auditor's Observations​

The Independent Auditors confirmed that the financial statements gave a true and fair view of the state of affairs for the company as at March 31, 2026, in conformity with Indian Accounting Standards (Ind AS).

Regarding significant items, the audit noted:

• The company did not have any intangible assets during the year.
• Total loans granted to related parties amounted to 7.69 crore, all of which were repayable on demand and lacked a stipulated schedule for repayment or interest payment.
• The company is in compliance regarding statutory dues, with no material outstanding undisputed dues existing for more than six months.

Stock Price Movement​

Binny Mills Ltd shares settled at ₹328.85 today, ticking up 5.00% as of the close of trade on Wednesday. Throughout the day, the stocks traded within a range spanning from an intraday low of ₹300.00 to a high of ₹328.85.