Board Meeting Details

The Board Meeting commenced at 3:30 PM and concluded at 5:10 PM on July 21, 2026.

Key Decisions and Approvals

1. Financial Results Approval

The Board approved the Unaudited Financial Results for the quarter ended June 30, 2026. The statutory auditors, Deloitte Haskins & Sells LLP, have expressed an unmodified review conclusion on these results.

2. Director Reappointments

  • Mr. R.G. Chandramogan (DIN: 00012389): Reappointed as Chairman in the capacity of Non-Executive Non-Independent Director, liable to retire by rotation post attainment of 75 years of age. Subject to shareholder approval at the ensuing Annual General Meeting.
  • Mr. J. Shanmuga Priyan (DIN: 10773578): Reappointed as Managing Director, liable to retire by rotation. Subject to shareholder approval at the ensuing Annual General Meeting.

3. Annual General Meeting

  • The 41st Annual General Meeting (AGM) will be convened on Friday, September 25, 2026, through Video Conferencing/Other Audio Visual Means.
  • The cut-off date for determining shareholders eligible to vote is September 18, 2026.
  • Mr. C Subramaniam, Company Secretary, was authorized to send the Notice and Annual Report to shareholders.

Financial Results for Quarter Ended June 30, 2026

Income Statement (₹ in crores except EPS)

Revenue Performance:

  • Revenue from operations: ₹3,090.49 crore (Q1 FY27) vs ₹2,590.28 crore (Q1 FY26) - 19.3% increase
  • Other income: ₹2.89 crore (Q1 FY27) vs ₹3.92 crore (Q1 FY26)
  • Total income: ₹3,093.38 crore (Q1 FY27) vs ₹2,594.20 crore (Q1 FY26)

Expense Breakdown:

  • Cost of materials consumed: ₹2,155.75 crore (79.5% increase from Q1 FY26 ₹1,569.87 crore)
  • Employee benefits expense: ₹84.95 crore vs ₹68.86 crore (Q1 FY26)
  • Finance costs: ₹31.63 crore vs ₹43.38 crore (Q1 FY26)
  • Depreciation and amortization: ₹151.28 crore vs ₹137.13 crore (Q1 FY26)
  • Other expenses: ₹465.68 crore vs ₹407.12 crore (Q1 FY26)
  • Total expenses: ₹2,922.70 crore vs ₹2,409.96 crore (Q1 FY26)

Profitability:

  • Profit before tax: ₹170.68 crore (Q1 FY27) vs ₹184.24 crore (Q1 FY26) - 7.4% decrease
  • Tax expense: ₹36.99 crore (Current tax: ₹47.26 crore, Deferred tax: ₹(10.27) crore)
  • Profit after tax: ₹133.69 crore (Q1 FY27) vs ₹135.19 crore (Q1 FY26) - 1.1% decrease
  • Total comprehensive income: ₹133.31 crore (Q1 FY27) vs ₹135.34 crore (Q1 FY26)

Earnings Per Share:

  • Basic EPS: ₹6.00 (Q1 FY27) vs ₹6.07 (Q1 FY26)
  • Diluted EPS: ₹6.00 (Q1 FY27) vs ₹6.07 (Q1 FY26)

Balance Sheet Information

  • Paid-up equity share capital: ₹22.28 crore (unchanged)
  • Other equity (excluding revaluation reserve): ₹1,922.24 crore (as of March 31, 2026)

Important Notes to Financial Results

1. Basis of Preparation

The financial results are prepared in accordance with Indian Accounting Standard (Ind AS) 34 Interim Financial Reporting and comply with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

2. Comparative Figures Restatement

The Board of Directors approved a Scheme of Amalgamation on April 28, 2025, for the merger of wholly-owned subsidiary Milk Mantra Dairy Private Limited with Hatsun Agro Product Limited, with appointed date of April 1, 2025. The NCLT sanctioned the scheme on March 10, 2026. Accordingly, comparative figures for quarter ended June 30, 2025, have been restated to reflect the merger.

3. Segment Information

The Company operates in a single segment - milk and milk products - hence segment information has not been separately disclosed.

4. Dividend Declaration

During the quarter ended June 30, 2026, the Company declared and paid an interim dividend of ₹10 per equity share (1000%) on 22,27,48,268 fully paid-up equity shares, aggregating to ₹222.75 crore. This is the first interim dividend for financial year 2026-27.

Director Profile Disclosures

Mr. R.G. Chandramogan

  • Has been in the dairy business for more than five decades
  • Awarded Patronship by Indian Dairy Association in February 2018
  • Received Lifetime Achievement Award from Indian Dairy Association at its 50th Dairy Industry Conference
  • Relationship disclosure: Father of Mr. C. Sathyan (DIN: 00012439), Executive Vice Chairman of the Company
  • Not debarred from holding director office pursuant to any SEBI Order

Mr. J. Shanmuga Priyan

  • Post Graduate in Commerce with rich experience in Dairy Industry
  • Has served in various positions in Hatsun Agro Product Limited
  • Not related to any other Directors of the Company
  • Not debarred from holding director office pursuant to any SEBI Order

Auditor Review

Deloitte Haskins & Sells LLP (Firm Registration No. 117366W/W-100018) conducted review in accordance with Standard on Review Engagements (SRE) 2410. Their review report states that nothing has come to their attention that causes them to believe that the Statement contains any material misstatement.