Board Meeting Details

The Board Meeting commenced at 3:30 PM and concluded at 5:00 PM on October 22, 2026.

Key Decisions and Approvals

1. Approval of Financial Results: The Board approved the Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2026.

2. Related Party Transactions: The Board took note of the Related Party Transactions for the quarter and half year ended September 30, 2026 pursuant to Regulation 23(9) of SEBI Regulations.

3. Committee Reconstitution: The Board reconstituted the Nomination and Remuneration Committee and the Risk Management Committee with effect from October 22, 2026.

Financial Results Highlights (₹ in Crores)

For Quarter Ended September 30, 2026:

  • Revenue from Operations: ₹2,807.64
  • Total Income: ₹2,902.49
  • Total Expenses: ₹2,749.99
  • Profit Before Tax: ₹152.50
  • Tax Expense: ₹36.81
  • Profit After Tax: ₹115.69
  • Total Comprehensive Income: ₹118.05
  • Basic EPS: ₹5.19 (not annualized)
  • Diluted EPS: ₹5.19 (not annualized)

Comparative Performance (Quarter):

  • Profit After Tax increased 5.6% YoY (from ₹109.54 crore in Q2 FY26)
  • Revenue from Operations increased 15.7% YoY (from ₹2,427.59 crore in Q2 FY26)

For Half Year Ended September 30, 2026:

  • Revenue from Operations: ₹5,808.13
  • Total Income: ₹5,995.87
  • Total Expenses: ₹5,672.69
  • Profit Before Tax: ₹323.18
  • Tax Expense: ₹73.80
  • Profit After Tax: ₹249.38
  • Total Comprehensive Income: ₹251.36
  • Basic EPS: ₹11.19 (not annualized)
  • Diluted EPS: ₹11.19 (not annualized)

Balance Sheet Position (as at September 30, 2026):

  • Total Assets: ₹4,451.55 crore
  • Total Equity: ₹1,973.14 crore
  • Non-current Liabilities: ₹938.95 crore
  • Current Liabilities: ₹1,539.46 crore
  • Property, Plant and Equipment: ₹2,827.84 crore
  • Inventories: ₹525.09 crore
  • Cash and Cash Equivalents: ₹37.51 crore

Cash Flow Statement (Half Year Ended September 30, 2026):

  • Net Cash from Operating Activities: ₹678.31 crore
  • Net Cash Used in Investing Activities: ₹(282.88) crore
  • Net Cash Used in Financing Activities: ₹(407.30) crore
  • Net Decrease in Cash: ₹(11.87) crore

Dividend Declaration

During the half year ended September 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.

Amalgamation Impact

The Board of Directors had approved the Scheme of Amalgamation of wholly-owned subsidiary Milk Mantra Dairy Private Limited with Hatsun Agro Product Limited with appointed date of April 1, 2025. The Scheme was sanctioned by NCLT vide order dated March 10, 2026. Accordingly, comparative financial information for quarter and half year ended September 30, 2025 has been restated to give effect to the amalgamation.

Committee Reconstitution

Nomination and Remuneration Committee (effective October 22, 2026):

  • Chairman: Mr. S Subramanian (Non-Executive Independent Director)
  • Members: Mr. K.S Thanarajan (Non-Executive Non-Independent Director), Mrs. Bharathi Baskar (Non-Executive Independent Director), Mr. Rajprabu Harshan (Non-Executive Independent Director)

Risk Management Committee (effective October 22, 2026):

  • Chairman: Mr. R.G. Chandramogan (Non-Executive Non-Independent Director)
  • Members: Mr. C Sathyan (Executive Vice Chairman), Mr. K.S. Thanarajan (Non-Executive Non-Independent Director), Mr. S. Subramanian (Non-Executive Independent Director), Mr. J. Shanmuga Priyan (Managing Director)

Segment Information

The Company operates in a single segment viz., milk and milk products.