Key Financial Figures - Standalone (₹ in Lakhs)
Quarter Ended September 30, 2026:
- Revenue from operations: ₹1,09,159.68
- Other income: ₹776.39
- Total income: ₹1,09,936.07
- Total expenses: ₹1,00,977.37
- Profit before tax: ₹8,958.70
- Tax expense: ₹1,203.83
- Profit for the period: ₹7,754.87
- Basic EPS: ₹1.09
- Diluted EPS: ₹1.08
Half Year Ended September 30, 2026:
- Revenue from operations: ₹2,06,498.72
- Other income: ₹888.50
- Total income: ₹2,07,387.22
- Total expenses: ₹1,91,109.61
- Profit before tax: ₹16,277.61
- Tax expense: ₹2,077.58
- Profit for the period: ₹14,200.03
- Basic EPS: ₹2.10
- Diluted EPS: ₹2.05
Key Financial Figures - Consolidated (₹ in Lakhs)
Quarter Ended September 30, 2026:
- Revenue from operations: ₹1,08,939.96
- Other income: ₹772.26
- Total income: ₹1,09,712.22
- Total expenses: ₹1,00,677.62
- Profit before tax: ₹9,034.60
- Tax expense: ₹1,240.59
- Profit for the period: ₹7,794.01
- Basic EPS: ₹1.10
- Diluted EPS: ₹1.08
Half Year Ended September 30, 2026:
- Revenue from operations: ₹2,06,284.57
- Other income: ₹880.27
- Total income: ₹2,07,164.84
- Total expenses: ₹1,90,779.51
- Profit before tax: ₹16,385.33
- Tax expense: ₹2,123.41
- Profit for the period: ₹14,261.91
- Basic EPS: ₹2.11
- Diluted EPS: ₹2.06
Balance Sheet Highlights (Standalone as of September 30, 2026)
- Total assets: ₹3,87,036.14 lakhs
- Equity share capital: ₹15,396.87 lakhs
- Other equity: ₹2,21,580.16 lakhs
- Total equity: ₹2,36,977.03 lakhs
- Non-current borrowings: ₹81,542.96 lakhs
- Current borrowings: ₹8,450.12 lakhs
- Cash and cash equivalents: ₹7,518.79 lakhs
- Bank balances (other): ₹80,244.18 lakhs
Capital Structure Changes
During the quarter ended June 30, 2026, the company issued:
- 5,43,789 Equity Shares and 2,50,00,000 Compulsorily Convertible Preference Shares (CCPS) of ₹2 each to Jongsong Investments Pte. Ltd. for ₹35,700.00 lakhs
- Promoters transferred 89,43,903 Equity Shares to the investor for ₹12,500.00 lakhs on April 30, 2026
During Q2 FY26, the company completed its IPO comprising:
- Fresh Issue of 10,18,57,142 Equity Shares at ₹140.00 per share and 1,57,480 Equity Shares at ₹127.00 per share, aggregating ₹1,42,800 lakhs
- Offer for Sale of 89,28,570 Equity Shares at ₹140.00 per share by Promoter Selling Shareholders, aggregating ₹12,500 lakhs
- Equity shares listed on NSE and BSE on August 18, 2026
- 2,50,00,000 CCPS converted into Equity Shares on July 22, 2026
IPO Proceeds Utilization (as of September 2026)
- Net proceeds from fresh issue: ₹1,32,803.20 lakhs
- Proceeds from Pre-IPO fund: ₹35,700.00 lakhs
- Expenses related to fresh issue: ₹9,996.80 lakhs
- Total net proceeds: ₹1,78,500.00 lakhs
Utilization details:
- Repayment/prepayment of borrowings: ₹48,512.90 lakhs utilized (₹1,173.20 lakhs unutilized)
- Capex for Perundurai facility expansion: ₹3,139.90 lakhs utilized (₹43,784.10 lakhs unutilized)
- Deployment of visi coolers and freezers: ₹0 utilized (₹15,531.30 lakhs unutilized)
- General corporate purposes: ₹7,255.50 lakhs utilized (₹13,406.30 lakhs unutilized)
- Total utilized: ₹94,608.30 lakhs
- Total unutilized: ₹83,891.70 lakhs (₹80,094.11 lakhs in fixed deposits, ₹3,797.59 lakhs in bank balance)
Tax Change
Effective April 1, 2026, the company opted to pay tax under Section 200 of Income Tax Act, 2025 at 25.168% rate, resulting in remeasurement of deferred tax assets/liabilities.
Management Commentary
Dr. K Rathnam, Wholetime Director and CEO, stated that Q2 FY27 achieved higher revenue growth and improved margins despite inflation, El Nino impact, and geopolitical uncertainties. Yogurt was the highest growing category, and the company launched Skyr, Greek Yogurt, and high-protein lactose-free milk products. Priorities include scaling value-added portfolio, expanding distribution, and improving capacity utilization.
Subsidiary Information
The consolidated results include Asal Food Products Private Limited (100% subsidiary).