Board Meeting Details

The Board meeting was held on October 27, 2026, from 09:30 AM to 11:00 AM at the company's registered office in Rajkot, Gujarat.

Financial Performance (Half Year Ended September 30, 2026)

Profit & Loss Statement (₹ in Lakhs):

  • Revenue from Operations: 20,866.72
  • Other Income: 30.60
  • Total Income: 20,897.32
  • Total Expenses: 20,162.51
  • Cost of Material Consumed: 19,089.47
  • Employee Benefit Expenses: 250.34
  • Finance Costs: 131.44
  • Depreciation and Amortization Expenses: 116.53
  • Other Expenses: 586.15
  • Profit Before Tax: 734.81
  • Tax Expenses: 180.20
  • Current Tax: 165.00
  • Deferred Tax: 8.65
  • Prior Period Taxes: 6.55
  • Net Profit for the Period: 554.61

Comparative Figures:

  • H1 FY27 Net Profit: ₹554.61 lakh vs H1 FY26: ₹252.38 lakh (120% increase)
  • H1 FY27 Revenue: ₹20,866.72 lakh vs H1 FY26: ₹18,538.58 lakh

Earnings Per Share:

  • Basic EPS: ₹5.14
  • Diluted EPS: ₹5.14
  • Face Value per Share: ₹10

Capital Structure Change:

  • Paid-up Equity Share Capital increased to ₹1,080.00 lakh (10,80,00,000 shares) from ₹540.00 lakh (5,40,00,000 shares) as of March 31, 2026.

Balance Sheet Position (As at September 30, 2026)

Total Equity and Liabilities: ₹7,968.04 Lakhs

  • Shareholders' Funds: ₹4,362.68 Lakhs
  • Share Capital: ₹1,080.00 Lakhs
  • Reserves and Surplus: ₹3,282.68 Lakhs
  • Non-current Liabilities: ₹275.03 Lakhs
  • Current Liabilities: ₹3,330.33 Lakhs

Total Assets: ₹7,968.04 Lakhs

  • Non-current Assets: ₹2,426.05 Lakhs
  • Property, Plant and Equipment: ₹1,902.23 Lakhs
  • Capital Work-in-progress: ₹13.26 Lakhs
  • Intangible Assets: ₹0.18 Lakhs
  • Current Assets: ₹5,541.99 Lakhs
  • Trade Receivables: ₹3,641.96 Lakhs
  • Cash and Cash Equivalents: ₹1,506.43 Lakhs
  • Other Current Assets: ₹386.16 Lakhs

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

  • Net Cash from Operating Activities: ₹1,460.18 Lakhs
  • Net Cash Used in Investing Activities: ₹(233.00) Lakhs
  • Net Cash Used in Financing Activities: ₹(1,229.57) Lakhs
  • Net Increase in Cash: ₹(2.39) Lakhs

IPO Fund Utilization Deviation

Background:

  • Funds raised through Initial Public Offer: ₹1,944.00 Lakhs (January 29-31, 2024)
  • Unutilized proceeds: ₹74.17 Lakhs originally earmarked for "Funding Capital Expenditure towards Purchase of Additional Plant and Machinery" and "Issue Related Expenses"

Deviation Details:

  • Shareholder approval obtained on September 25, 2025, for reallocation to working capital requirements
  • Original allocation modified:
  • Capital Expenditure: Reduced by ₹48.39 Lakhs (from ₹184.33 Lakhs to ₹135.94 Lakhs)
  • Working Capital: Increased by ₹74.00 Lakhs (from ₹1,214.67 Lakhs to ₹1,288.84 Lakhs)
  • Issue Related Expenses: Reduced by ₹25.78 Lakhs (from ₹145.00 Lakhs to ₹119.22 Lakhs)
  • Total funds utilized: ₹1,943.83 Lakhs
  • Unutilized amount: ₹0.17 Lakhs kept in Escrow IPO Account

General Corporate Expenses:

  • ₹400.00 Lakhs utilized in acquiring M/s. Ajay Industries

Additional Information

  • The company operates in a single segment: Manufacturing of Maize Oil & Maize Cake
  • No investor complaints were pending or received during the half year
  • The financial results have been reviewed by the Audit Committee and Statutory Auditors
  • Figures for previous periods have been regrouped/reclassified for comparability