Company Disclosure

Financial Results - Standalone (₹ in Crores)

Quarterly Performance (Q2 FY27 vs Q2 FY26 vs Q1 FY27)

  • Revenue from Operations: ₹1,451.33 (₹1,486.69 in Q2 FY26; ₹1,594.27 in Q1 FY27)
  • Other Income: ₹16.97 (₹19.18 in Q2 FY26; ₹39.13 in Q1 FY27)
  • Total Income: ₹1,468.30 (₹1,505.87 in Q2 FY26; ₹1,633.40 in Q1 FY27)
  • Profit Before Tax: ₹177.39 (₹50.85 in Q2 FY26; ₹235.44 in Q1 FY27)
  • Tax Expense: ₹45.40 (₹12.77 in Q2 FY26; ₹58.51 in Q1 FY27)
  • Net Profit After Tax: ₹131.99 (₹38.08 in Q2 FY26; ₹176.93 in Q1 FY27)
  • Earnings Per Share (Basic): ₹2.88 (₹0.83 in Q2 FY26; ₹3.86 in Q1 FY27)

Half-Yearly Performance (H1 FY27 vs H1 FY26)

  • Revenue from Operations: ₹3,045.60 (₹2,777.92 in H1 FY26)
  • Other Income: ₹56.10 (₹49.76 in H1 FY26)
  • Total Income: ₹3,101.70 (₹2,827.68 in H1 FY26)
  • Profit Before Tax: ₹412.83 (₹136.90 in H1 FY26)
  • Tax Expense: ₹103.91 (₹33.42 in H1 FY26)
  • Net Profit After Tax: ₹308.92 (₹103.48 in H1 FY26)
  • Earnings Per Share (Basic): ₹6.73 (₹2.26 in H1 FY26)

Financial Results - Consolidated (₹ in Crores)

Quarterly Performance (Q2 FY27)

  • Revenue from Operations: ₹1,450.73
  • Other Income: ₹16.97
  • Total Income: ₹1,467.70
  • Profit Before Tax: ₹177.19
  • Tax Expense: ₹45.40
  • Net Profit After Tax: ₹131.79
  • Earnings Per Share (Basic): ₹2.87

Half-Yearly Performance (H1 FY27)

  • Revenue from Operations: ₹3,044.95
  • Other Income: ₹56.10
  • Total Income: ₹3,101.05
  • Profit Before Tax: ₹412.47
  • Tax Expense: ₹103.91
  • Net Profit After Tax: ₹308.56
  • Earnings Per Share (Basic): ₹6.73

Segment Performance - Consolidated (Q2 FY27)

Revenue by Segment:

  • Maize Processing Division: ₹1,212.26 Cr (₹755.45 Cr in Q2 FY26)
  • Other Agro Processing Division: ₹195.85 Cr (₹713.31 Cr in Q2 FY26)
  • Spinning Division: ₹40.32 Cr (₹15.54 Cr in Q2 FY26)
  • Renewable Power Division: ₹2.30 Cr (₹2.39 Cr in Q2 FY26)

Segment Results (Profit before Interest & Tax):

  • Maize Processing Division: ₹168.07 Cr (₹6.99 Cr in Q2 FY26)
  • Other Agro Processing Division: ₹3.41 Cr (₹46.66 Cr in Q2 FY26)
  • Spinning Division: ₹1.13 Cr (₹-0.49 Cr in Q2 FY26)
  • Renewable Power Division: ₹1.36 Cr (₹1.24 Cr in Q2 FY26)

Balance Sheet Position - Standalone (as at 30th September, 2026)

  • Total Assets: ₹4,535.67 Cr (₹4,154.26 Cr as at 31st March, 2026)
  • Equity Share Capital: ₹45.87 Cr (unchanged)
  • Other Equity: ₹3,547.09 Cr (₹3,251.52 Cr as at 31st March, 2026)
  • Total Equity: ₹3,592.96 Cr (₹3,297.39 Cr as at 31st March, 2026)
  • Non-Current Liabilities: ₹172.44 Cr (₹169.99 Cr as at 31st March, 2026)
  • Current Liabilities: ₹770.27 Cr (₹686.88 Cr as at 31st March, 2026)

Cash Flow Statement - Standalone (H1 FY27)

  • Cash from Operating Activities: ₹166.34 Cr (₹131.05 Cr in H1 FY26)
  • Cash from Investing Activities: ₹-178.75 Cr (₹-214.24 Cr in H1 FY26)
  • Cash from Financing Activities: ₹12.44 Cr (₹83.45 Cr in H1 FY26)
  • Net Change in Cash: ₹0.03 Cr (₹0.26 Cr in H1 FY26)

Key Notes and Explanations

1. Exceptional Item: During previous year, the Company recognized an incremental liability of ₹3.97 Crores as exceptional item related to the impact of changes in wage definition under New Labour Codes.

2. Segment Reporting: During the quarter, the Group refined methodology for measuring Segment Results by allocating certain expenses to respective operating segments. Comparative figures have been restated accordingly.

3. Capacity Expansion: The presentation highlights ongoing expansion plans including:

  • 900 TPD greenfield Corn Wet Milling plant at Himmatnagar, Gujarat by 2027
  • Proposed 850 TPD greenfield Corn Wet Milling plant at Hubli, Karnataka
  • Target to achieve 9,000 TPD maize processing capacity by 2030
  • Fermentation-based products target of 1,20,000 TPA by CY 2028

4. Manufacturing Facilities: 10 facilities across 6 states, with total maize processing capacity of 5,600 TPD and serving 120+ countries.

Auditor Review

The financial results were reviewed by Kantilal Patel & Co., Chartered Accountants (ICAI Firm registration number: 104744W), who concluded that nothing has come to their attention that causes them to believe that the statements contain any material misstatement.

Board Meeting Details

The Board Meeting commenced at 12:10 p.m. (IST) and concluded at 01:20 p.m. (IST) on 24th October, 2026.

Additional Materials

The filing includes an Investor Presentation highlighting corporate overview, quarterly performance, five-year trends, strategic priorities, and governance information.