Financial Results Approval
The Board approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, along with Limited Review Reports issued by S.C. Bapna & Associates, Chartered Accountants.
Standalone Financial Results (Q1 FY27)
- Revenue from operations: ₹206.16 crore (vs. ₹160.66 crore in Q1 FY26)
- Other income: ₹2.77 crore
- Total income: ₹208.93 crore
- Cost of materials consumed: ₹128.73 crore
- Employee benefits expense: ₹6.15 crore
- Finance costs: ₹0.34 crore
- Depreciation and amortization: ₹5.26 crore
- Other expenses: ₹47.36 crore
- Total expenses: ₹196.38 crore
- Profit before tax: ₹12.55 crore (vs. loss of ₹0.76 crore in Q1 FY26)
- Tax expenses: ₹3.34 crore (Current tax: ₹1.40 crore, Deferred tax: ₹1.94 crore)
- Net profit for the quarter: ₹9.21 crore (vs. loss of ₹0.33 crore in Q1 FY26)
- Earnings per share (basic and diluted): ₹0.50 (vs. loss of ₹0.02 in Q1 FY26)
- Paid-up equity share capital: ₹40.05 crore (face value ₹2 per share)
Consolidated Financial Results (Q1 FY27)
Includes results of Spark Ingredients Private Limited (Associate) with company's share of net loss after tax of ₹0.33 lakhs.
- Net profit for the quarter: ₹9.21 crore
- Earnings per share (basic and diluted): ₹0.50
Key Financial Events
1. Investment in Associate: During the quarter, the company invested ₹0.15 crore in Spark Ingredients Private Limited, acquiring 1,50,000 equity shares (face value ₹10 each), representing 30% shareholding. Shares allotted on June 13, 2026.
2. Preferential Issue: Completed preferential issue of 1,80,24,157 equity shares (face value ₹2 each) to Corn Products Development Inc. (Non-Promoter) at issue price of ₹110 per share (including securities premium of ₹108), aggregating to ₹198.27 crore. Shares allotted on June 24, 2026.
- Utilization of proceeds:
- Working capital requirements: ₹149.20 crore (Utilized: ₹0.00, Unutilized: ₹149.20)
- General corporate purposes: ₹49.07 crore (Utilized: ₹0.00, Unutilized: ₹49.07)
- Total unutilized amount temporarily invested in fixed deposits with scheduled bank/separate account.
3. Labour Code Impact: Implementation of Labour Codes resulted in increase in gratuity liability by ₹0.67 crore due to past service cost, recognized under employee benefits expense.
Management Appointments
1. Reappointment of Managing Director: Board approved reappointment of Mr. Gouthamchand Sohanlal Chowdhary as Managing Director for 5 years from September 1, 2026, subject to shareholder approval.
2. Reappointment of Joint Managing Directors:
- Mr. Sambhav Gautam Chowdhary reappointed as Joint Managing Director for 5 years from September 1, 2026
- Mr. Shreyans Gautam Chowdhary reappointed as Joint Managing Director for 5 years from September 1, 2026
Both subject to shareholder approval.
3. New Director Appointments:
- Mr. Jacques Georges Florent Guglielmi appointed as Nominee Director (regularization of appointment effective June 24, 2026)
- Mr. Niraj Yogeshbhai Shah appointed as Independent Director (regularization of appointment effective June 24, 2026)
Both subject to shareholder approval.
Director Retirement
Mr. Shreyans Gautam Chowdhary determined as director liable to retire by rotation at ensuing AGM.
Annual General Meeting
- 44th Annual General Meeting to be held on September 23, 2026 at 11:30 AM IST through Video Conferencing/Other Audio-Visual Means
- Directors Report, Corporate Governance Report, and Secretarial Audit Report for FY 2025-2026 approved
Book Closure
Register of Members and share transfer books will remain closed from September 17, 2026 to September 23, 2026 (both days inclusive) for AGM purposes.
Appointment of Scrutinizer
Mr. Keyur J. Shah of Keyur J. Shah & Associates appointed as Scrutinizer for e-voting process at AGM.
Appointment of NSDL
National Securities Depository Limited (NSDL) appointed to provide remote e-voting platform for AGM.