Key Quantitative Figures

Financial Performance (FY 2025-26 vs FY 2024-25):

  • Net Sales and Other Income: ₹341.22 crores (Previous: ₹348.92 crores)
  • Operating Profit: ₹11.11 crores (Previous: ₹14.77 crores)
  • Finance Cost: ₹1.11 crores (Previous: ₹1.83 crores)
  • Cash Profit: ₹10.00 crores (Previous: ₹12.94 crores)
  • Depreciation & Amortization: ₹3.26 crores (Previous: ₹3.15 crores)
  • Profit before Exceptional Items: ₹6.74 crores (Previous: ₹9.79 crores)
  • Exceptional Items Income: ₹56.32 crores (Previous: Nil)
  • Exceptional Items Expense: Nil (Previous: ₹0.38 crores)
  • Profit before Tax: ₹65.73 crores (Previous: ₹6.74 crores)
  • Tax Expense: ₹1.85 crores (Previous: ₹-17.23 crores credit)
  • Profit for the Period: ₹82.96 crores (Previous: ₹4.88 crores)
  • Earnings Per Share (Basic): ₹35.46 (Previous: ₹1.89)
  • Earnings Per Share (Diluted): ₹35.32 (Previous: ₹1.77)

Capital Structure:

  • Authorized Share Capital: ₹35.00 crores (3.5 crore equity shares of ₹10 each)
  • Paid-up Equity Share Capital: ₹28.45 crores as of 31st March 2026 (Previous: ₹25.66 crores)
  • Equity Shares Outstanding: 2,84,19,861 shares (Previous: 2,56,19,861 shares)

Key Balance Sheet Items (as of 31st March 2026):

  • Total Assets: ₹131.61 crores (Previous: ₹116.91 crores)
  • Non-Current Assets: ₹56.78 crores (Previous: ₹54.22 crores)
  • Current Assets: ₹74.84 crores (Previous: ₹62.69 crores)
  • Inventories: ₹31.86 crores (Previous: ₹27.33 crores)
  • Trade Receivables: ₹24.03 crores (Previous: ₹20.52 crores)
  • Cash and Cash Equivalents: ₹10.29 crores (Previous: ₹8.58 crores)
  • Total Equity: ₹55.36 crores (Previous: ₹40.36 crores)
  • Non-Current Liabilities: ₹8.60 crores (Previous: ₹8.76 crores)
  • Current Liabilities: ₹67.65 crores (Previous: ₹67.80 crores)

AGM Schedule and Resolutions

34th Annual General Meeting Details:

  • Date: Saturday, 26th September 2026
  • Time: 11:00 AM
  • Mode: Video Conferencing/Other Audio Visual Means

Key Dates:

  • Record Date for Voting: 19th September 2026
  • E-Voting Commencement: 23rd September 2026 (9:00 AM)
  • E-Voting End: 25th September 2026 (5:00 PM)
  • Book Closure: 20th to 26th September 2026 (both days inclusive)

Ordinary Business:

1. Adoption of Audited Financial Statements for FY 2025-26

2. Reappointment of Mr. Ashwani Kumar Aggarwal (DIN: 00486430) as Director retiring by rotation

3. Appointment of Statutory Auditors: M/s Sanjeev Sharma & Associates, Chartered Accountants (FRN: 12326N) at remuneration of ₹11.00 lakhs per annum (₹9.00 lakhs statutory audit, ₹1.00 lakh tax audit, ₹1.00 lakh GST returns)

Special Business:

4. Ratification of remuneration of Cost Auditors: M/s. K K Sinha & Associates, Cost Accountants (FRN: 100279) at ₹70,000 per annum (₹50,000 for auditable products, ₹20,000 for certification of non-auditable products)

5. Approval of material related party transactions with Nabha Commerce Private Limited for sale/purchase of products, goods, materials or services for 3 years till 37th AGM in 2029, with maximum aggregate transactions of ₹145 crores per year (superseding previous approval of ₹60 crores per year)

6. Reappointment of Mr. Ashwani Kumar Aggarwal as Executive Director (Whole-Time Director) from ensuing AGM till conclusion of AGM in 2029 with revised remuneration of ₹3.00 lakhs per month plus perquisites (previous salary: ₹2.50 lakhs per month)

Capital Raising and Utilization

Warrant Conversion:

  • The company had received approval for allotment of 86,00,000 warrants convertible into equity shares
  • During FY26, 51,00,000 warrants were converted to equivalent equity shares
  • Total funds raised through conversion: ₹10.50 crores
  • Amount utilized for operations: ₹7.94 crores as of 31st March 2026

Litigation and Contingencies

Milk Cess Litigation:

  • Company has ongoing Special Leave Petition before Supreme Court against Haryana Murrah Buffalo and Other Animal Breed Act, 2001
  • Last demand notice dated 1st January 2024: ₹544.31 crores (including milk cess and interest)
  • Total provision in accounts: ₹21.89 crores as of 31st March 2026
  • Amount deposited pursuant to court orders: ₹9.91 crores (₹5.91 crores + ₹4.00 crores)
  • Final decision pending before Supreme Court

Auditor Appointments and Changes

Statutory Auditors:

  • M/s. APT & Co LLP tenure completed at 34th AGM
  • Proposed new auditors: M/s Sanjeev Sharma & Associates for one year from conclusion of 34th AGM till conclusion of 35th AGM in 2027

Cost Auditors:

  • M/s. K K Sinha & Associates proposed for FY 2026-27

Secretarial Auditors:

  • M/s. Sanger & Associates appointed for three years till AGM in 2028

Related Party Transactions

Key Transactions:

  • Material transactions with Nabha Commerce Private Limited (related party where Mr. Krishan Kumar Goyal and relatives are shareholders)
  • Estimated transaction value: ₹145 crores per year
  • Nature: Sale/purchase of milk or milk products at arm's length basis

Corporate Social Responsibility

  • CSR obligation: ₹41.67 lakhs (2% of average net profit of FY22-23, FY23-24, FY24-25)
  • Actual CSR expenditure: ₹41.76 lakhs
  • Focus areas: Animal welfare, old age homes, healthcare, education, mid-day meals

Dividend

  • No dividend recommended for FY 2025-26 due to fund requirements for operations

Key Management Personnel

  • Mr. Krishan Kumar Goyal: Chairman and Managing Director
  • Mr. Ashwani Kumar Aggarwal: Executive Director
  • Mr. Mukesh Sehgal: Chief Financial Officer
  • Ms. Shruti Joshi: Company Secretary

Voting Arrangements

  • E-voting through NSDL
  • Scrutinizer: Mr. Rajeev Kumar Sanger, Practising Company Secretary
  • Results to be placed on company website and communicated to BSE

Financial Impact Assessment

  • Auditor appointments: ₹11.00 lakhs statutory audit fees, ₹0.70 lakhs cost audit fees
  • Executive director remuneration: ₹3.00 lakhs per month plus perquisites
  • Related party transactions: Potential impact of ₹145 crores annually
  • Milk cess litigation: Contingent liability of ₹544.31 crores, provided ₹21.89 crores

Capital Structure Impact

  • Warrant conversion increased paid-up capital by ₹2.80 crores
  • No dilution mentioned in disclosure

Cash Flow Implications

  • Operating cash flow: Negative ₹4.50 crores (Previous: Positive ₹20.13 crores)
  • Investing cash flow: Negative ₹7.48 crores (Previous: Negative ₹3.50 crores)
  • Financing cash flow: Positive ₹13.69 crores (Previous: Negative ₹9.60 crores)
  • Net cash increase: ₹1.71 crores (Previous: ₹7.03 crores)

Forward-looking Information

  • Management cites challenging dairy sector due to climate variability and input costs
  • Focus remains on fresh dairy, cultured products, cheese and milk nutritional ingredients
  • Company working to achieve better performance in growing market segment

#Tags: #ModernDairies #AGM2026 #FY2026Results #SEBIDisclosure #RegulatoryCompliance #FinancialUpdate #Neutral