Company Overview

Halder Venture Limited (Scrip Code: 539854, Symbol: HALDER) is an integrated agri-staples company focused on rice and edible oils, operating since 1924 with manufacturing facilities in West Bengal. The company filed its Annual Report for FY 2025-2026 under SEBI Regulation 34, revealing mixed financial performance across standalone and consolidated entities.

Financial Performance

Standalone Results (₹ lakhs)

  • Revenue from operations: ₹45,067.80 (FY25: ₹77,226.73) - 42% decline
  • Profit before tax: ₹1,288.60 (FY25: ₹3,532.35) - 64% decrease
  • Profit after tax: ₹999.52 (FY25: ₹2,311.95) - 57% decline
  • EPS: ₹8.04 (FY25: ₹22.93)

Consolidated Results (₹ lakhs)

  • Revenue from operations: ₹64,619.95
  • Profit before tax: ₹4,045.04
  • Profit after tax: ₹3,190.24 - 50% increase YoY
  • Operating cash flow: ₹1,537.17 positive turnaround
  • Cash and cash equivalents: ₹1,594.21 (FY25: ₹506.36)

Operational Highlights

Manufacturing Capacity & Production

  • Rice milling: 100 MT/day puffed parboiled rice capacity
  • Edible oil: 100 MT/day refining capacity with 350 MT/day solvent extraction
  • Haldia facility: 33,000 MT tank farm operational, 300 MT/day packing capacity
  • Production: 54,500 MT solvent extraction completed, 6,500 MT palmolein oil packaged
  • Exports: 21,896.66 MT rice and 8,800 MT vegetarian protein meal (₹121.92 crore earnings)

Brand Portfolio Expansion

  • Rice brands: Bhojmoti, Moti, Hira, Tumi, Bhoj, Diva, Uma, Halroots
  • Edible oil brands: Odaana, Omaana (relaunched in new packaging)
  • Distribution network expanded across Bihar, Jharkhand, West Bengal, and North East

Corporate Actions & Capital Structure

Capital Changes

  • Bonus issue: 82,92,090 equity shares issued in 2:1 ratio (record date: 2 September 2025)
  • Paid-up capital: Increased to ₹1,243.81 lakh from ₹414.60 lakh
  • Preferential issue: Approved 7,93,650 convertible warrants to PK Bio Link Pvt Ltd for ₹24,999.98 lakh
  • NSE listing: Equity shares listed on NSE effective 19 January 2026

Borrowings & Debt

  • Total borrowings: ₹36,334.37 lakhs (21% increase YoY)
  • Secured term loans: ₹5,246.40 lakhs from banks
  • Working capital borrowings: ₹29,806.55 lakhs
  • Finance costs: ₹2,662.98 lakhs

Regulatory & Compliance Issues

Section 19 Violation

  • Subsidiaries (Intellect Buildcon and Prakruti Commosale) hold 6.62% shares in contravention of Companies Act
  • Shares allotted during Composite Scheme of Arrangement sanctioned by NCLT
  • Subsidiaries commenced disposal process with no financial liability provision recognized

SEBI Compliance

  • BSE levied SOP fine of ₹5,42,800 for non-compliance with Regulation 17(1)
  • Additional fine of ₹2,59,600 for December 2025 quarter (waiver application pending)

Financial Position & Management

Working Capital

  • Trade receivables: Reduced to ₹9,432.59 lakh from ₹18,207.76 lakh (standalone)
  • Inventory levels: ₹25,375.97 lakh
  • Trade payables: ₹3,846.25 lakhs with MSME dues of ₹343.39 lakhs

Tax Matters

  • Current tax provision: ₹762.19 lakhs (net of advance payment)
  • Deferred tax credit: ₹(604.90) lakhs
  • Net gain on foreign exchange: ₹2,127.28 lakhs

Corporate Governance

Board Composition

  • Keshab Kumar Halder (Managing Director)
  • Poulomi Halder (Non-Executive Director)
  • Kumar Shankar Datta (Independent Director)
  • Pritha Sarkar (Independent Director)

Shareholding Pattern

  • Promoter holding: 67.08%
  • Public holding: 32.92%
  • Demat shares: 99.46% of total paid-up capital

Forward Outlook

  • Target 5x revenue growth over next 5 years
  • Double rice and edible oil capacities
  • Commission 500 MT refinery at Haldia in FY26-27
  • Expand branded distribution to cover 100% of production
  • Explore premium rice varieties for international markets
  • Technology partnership with InQube for agri-technology innovation