Board Meeting Outcomes

The Board considered and approved the following matters:

1. Unaudited Financial Results: The Board approved the Unaudited Financial Results for the quarter and half-year ended 30th September 2026, together with the Limited Review Report of the Statutory Auditors, M/s. SRI & Co.

2. Alteration of Object Clause: The proposal for alteration of the Object Clause of the Memorandum of Association of the Company was deferred for further consideration.

3. Postal Ballot: Consequently, the proposal for approval of the Postal Ballot Notice and Explanatory Statement relating to the aforesaid alteration was also deferred.

4. JV/SPV Proposal: The Board considered a proposal for the incorporation of a company as a Joint Venture (JV) / Special Purpose Vehicle (SPV) to undertake projects relating to waste management, resource recovery, recycling, and circular economy initiatives. The matter was deferred for further examination.

Key Financial Figures (Rs. in Lakhs)

For the Quarter Ended 30th September 2026 (Q2 FY27):

  • Revenue from Operations: 46,615.35
  • Total Income: 46,856.25
  • Profit/(Loss) before tax: (89.48)
  • Net Profit/(Loss) for the period (after tax): (123.02)
  • Total Comprehensive Income for the period: (96.76)
  • Basic and Diluted Earnings Per Share (EPS): (Rs. 0.384)

For the Half-Year Ended 30th September 2026 (H1 FY27):

  • Revenue from Operations: 91,982.23
  • Total Income: 92,578.88
  • Profit/(Loss) before tax: 40.37
  • Net Profit/(Loss) for the period (after tax): (28.59)
  • Total Comprehensive Income for the period: (54.35)
  • Basic and Diluted Earnings Per Share (EPS): (Rs. 0.089)

Comparative Performance (Q2 FY27 vs Q2 FY26):

  • Revenue from Operations increased to 46,615.35 from 42,739.41 (YoY).
  • Net Profit turned to a loss of (123.02) from a profit of 3,287.18 (YoY).
  • EPS turned negative to (Rs. 0.384) from Rs. 10.272 (YoY).

Segment-Wise Performance (Q2 FY27)

  • Animal Feed Division: Revenue of 38,975.82; Segment Result of (742.57)
  • Oil Cake Processing Division: Revenue of 12,183.43; Segment Result of 730.83
  • Dairy Division: Revenue of 1,670.36; Segment Result of (25.84)

Exceptional Items

An exceptional income of Rs. 47.17 Lakhs was recorded for the quarter ended 30.06.2026 (Q1 FY27) and half-year ended 30.09.2026. This represents a further insurance claim received for flood-related damages to raw materials in Tamil Nadu during FY 2023-24. A sum of Rs. 250.75 Lakh was already received in FY 2024-25 for the same event.

Significant Note: Litigation and Impairment Provision (Note 4)

The Company had acquired approximately 24.68 acres of land at Muthalamada No.1 Village, Chittur Taluk, Palakkad District, Kerala, in August 2021 for a total capitalized cost of approximately Rs. 7.24 Crores. Subsequent to the acquisition, civil and criminal proceedings relating to the antecedent title deed concerning a 25% ownership interest in the property were initiated. An interim injunction restraining alienation of the property is in force. Based on a legal opinion obtained during the quarter, the management has created a provision for a probable impairment loss of Rs. 1.81 Crores, equivalent to 25% of the carrying value of the property, attributable to the disputed 25% undivided interest. The Company continues to take legal steps to protect its title.

Cash Flow (H1 FY27)

  • Net cash used in operating activities: (989.09)
  • Net cash from investing activities: 2,525.29
  • Net cash used in financing activities: (2,588.24)
  • Net decrease in cash and cash equivalents: (2,052.04)
  • Dividends paid during the period: (2,372.40)

Capital Structure

Paid-up Equity Share Capital (Face value of Re 1 per share) remained unchanged at 320.00 Lakhs.

Audit & Compliance

The unaudited financial results were reviewed by the Audit Committee and approved by the Board. They have been subjected to a 'Limited Review' by the Statutory Auditors, SRI & Co. (Firm Registration No: 003978S), who issued an unmodified review report. The report draws attention to Note 4 concerning the litigation over the land title deed, but the conclusion is not modified.

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