Financial Performance Highlights

Quarter Ended June 30, 2026 (Unaudited):

  • Revenue from operations: Rs 8,122 lakh
  • Other income: Rs 89 lakh
  • Total income: Rs 8,211 lakh
  • Total expenses: Rs 8,159 lakh
  • Profit before taxes and exceptional items: Rs 52 lakh
  • Exceptional expenses: Rs 23 lakh (share-based payment expense)
  • Profit before taxes after exceptional items: Rs 29 lakh
  • Tax expense: Rs 7 lakh (current tax)
  • Net profit after tax: Rs 22 lakh
  • Other comprehensive income: Rs 1 lakh
  • Total comprehensive income: Rs 23 lakh
  • Basic EPS: Rs 0.09
  • Diluted EPS: Rs 0.09
  • Paid-up equity share capital: Rs 1,280 lakh (face value Rs 5 per share)

Comparative Figures:

  • Q1 FY2026 (June 30, 2025): Net loss of Rs 69 lakh, revenue of Rs 7,366 lakh
  • Q4 FY2026 (March 31, 2026): Net profit of Rs 5,141 lakh, revenue of Rs 17,893 lakh
  • Full year FY2026: Net profit of Rs 4,429 lakh, revenue of Rs 41,293 lakh

Key Operational Notes

1. Segment Information: Company operates in a single segment - "Dairy Products comprising Ghee, Milk Powder"

2. Contingent Liabilities: Claims against company not acknowledged as debts - Rs 4,579 lakh

3. Trade Receivables: Rs 47 lakh (net of write-off/provisions of Rs 22 lakh) from entity facing insolvency petition before NCLT. Claim of Rs 78 lakh (including Rs 9 lakh interest) filed with Resolution Professional.

4. Exceptional Item: Rs 23 lakh represents share-based payment expense (proportionate amount instead of total amount of Rs 91 lakh as per Ind AS 102)

5. Other Income: Includes Rs 80 lakh fair value gain on reinstatement of trees and plantation (biological assets) based on agriculture scientist report

6. Capitalization: During quarter, Rs 61 lakh expenses capitalized in capital work in progress towards "project being qualifying assets" as per Ind AS 23

7. GST Matters:

  • (i) Demand of Rs 1,896 lakh with equivalent penalty from CGST Ludhiana for Patiala Plant in earlier years - appeal pending before CGST Ludhiana Tribunal
  • (ii) Appeal before Tribunal against order rejecting appeal for interest receivable of Rs 199 lakh on GST refund for Moradabad Plant

Emphasis of Matter by Auditors

Auditors drew attention to:

  • Note 5: Trade receivables
  • Note 6: Share-based payments treated as exceptional items
  • Note 7: Other income
  • Note 8: Capitalization of expenses
  • Note 10: GST matters