Financial Results Approval
The Board approved the standalone un-audited financial results for the quarter ended 30th June 2026, along with the Limited Review Report issued by statutory auditors. The results were reviewed and recommended by the Audit Committee before Board approval.
Key Financial Figures (Amount in ₹ Lakhs)
- Revenue from operations: ₹91,26.63 (Q1 FY27) vs ₹78,30.28 (Q1 FY26) and ₹92,18.01 (Q4 FY26)
- Other Income: ₹29.76 (Q1 FY27) vs ₹13.57 (Q1 FY26)
- Total Income: ₹91,56.39 (Q1 FY27) vs ₹78,43.85 (Q1 FY26)
- Total Expenses: ₹88,51.84 (Q1 FY27) vs ₹76,34.72 (Q1 FY26)
- Profit before tax: ₹3,04.55 (Q1 FY27) vs ₹2,09.13 (Q1 FY26)
- Tax Expense (Deferred): ₹90.85 (Q1 FY27) vs ₹44.07 (Q1 FY26)
- Profit for the period: ₹2,13.70 (Q1 FY27) vs ₹1,65.06 (Q1 FY26)
- Other Comprehensive Income: ₹63.15 (Q1 FY27)
- Total Comprehensive Income: ₹2,76.86 (Q1 FY27) vs ₹1,65.06 (Q1 FY26)
- Earnings per share (Basic): ₹0.75 (Q1 FY27) vs ₹0.64 (Q1 FY26)
- Earnings per share (Diluted): ₹0.74 (Q1 FY27) vs ₹0.60 (Q1 FY26)
- Paid-up equity share capital: ₹28,45.89 (consistent)
Board Decisions and Appointments
1. Re-appointment of Executive Director: Approved re-appointment of Mr. Ashwani Kumar Aggarwal as Executive (Whole-Time) Director for three consecutive years from ensuing AGM until conclusion of AGM in 2029, subject to shareholder approval. Based on recommendation of Nomination and Remuneration Committee.
2. Appointment of Statutory Auditors: Approved appointment of M/s. Sanjeev Sharma & Associates, Chartered Accountants (Firm Registration No. 12326N) as statutory auditors for one year from forthcoming AGM until conclusion of AGM in 2027, subject to shareholder approval. Based on recommendation of Audit Committee.
3. Appointment of Cost Auditors: Approved appointment of M/s. K K Sinha & Associates, Cost Accountants (Firm Registration No. 100279) as cost auditors for Financial Year 2026-27. Based on recommendation of Audit Committee.
4. AGM Arrangements:
- 34th Annual General Meeting scheduled for Saturday, 26th September 2026 at 11:00 AM through Video Conferencing/Other Audio Visual means
- Register of Members and Share Transfer books to close from 20th September 2026 to 26th September 2026 (both days inclusive)
- Approved Director's Report and Corporate Governance Report for FY ended 31st March 2026
- Appointed M/s. Sanger & Associates through Mr. Rajeev Kumar Sanger as scrutinizer for AGM
- Appointed NSDL for e-voting process
Legal Contingency Disclosure
The company disclosed ongoing legal matter regarding Milk Cess liability to Government of Haryana under Haryana Murrah Buffalo and other Milch Animal Breed Act, 2001:
- Special Leave Petition pending before Supreme Court since September 2012 (interim stay granted)
- Last demand notice received as of 31 December 2023 for ₹544.31 Crore (Milk Cess with compounded interest)
- Company provided ₹11.81 Lacs provision in current quarter, making total provision of ₹22.01 Crore as of 30th June 2026
- ₹9.91 Crore already deposited as per court orders (₹5.91 Crore per Supreme Court, ₹4.00 Crore per Punjab & Haryana High Court)
- Matter remains pending before both courts
Meeting Details
Board meeting commenced at 12:00 Noon (IST) and concluded at 03:50 PM (IST) on Tuesday, 11th August 2026 at Chandigarh.
Additional Information
- Financial results prepared in accordance with Indian Accounting Standards (Ind-AS)
- Company operates in single reportable segment: Manufacturing of milk & milk products
- Previous year figures have been rearranged and regrouped where necessary
- Limited review report by statutory auditors available on company website www.moderndairies.com