Company Overview
Spice Islands Industries Limited (formerly Spice Islands Apparels Limited) has reported a significant financial turnaround for FY 2025-26 and convened its 38th Annual General Meeting to approve several corporate actions.
Financial Performance Highlights
FY 2025-26 Results: The company achieved remarkable growth with revenue from operations surging to ₹17.89 crore (compared to ₹0.78 crore in FY 2024-25) and profit after tax reaching ₹5.66 crore (versus ₹0.48 crore previous year). Earnings per share improved to ₹11.45 from ₹1.11. Total financial assets increased substantially to ₹844.78 lakhs from ₹157.58 lakhs, while total debt reduced to ₹59.25 lakhs from ₹127.74 lakhs, improving the net debt-to-equity ratio to 0.04 from 0.54.
Segment Performance
The company operates across three business segments: Renting/Hire of Electric Vehicle (₹18.03 lakhs), Food and Beverages (₹183.55 lakhs), and Hospitality Business (₹89.68 lakhs). Total revenue reached ₹366.42 lakhs compared to ₹272.06 lakhs in FY25. Capital expenditure totaled ₹421.72 lakhs, primarily in hospitality and unallocable segments.
AGM Key Agenda Items
Date & Mode: August 7, 2026 at 11:30 AM IST via video conference
Dividend: Final dividend of ₹0.60 per share recommended, with record date July 31, 2026
Stock Split: Proposal to subdivide every 1 equity share of ₹10 into 5 equity shares of ₹2
Related Party Transactions: Approval sought for transactions aggregating ₹650 crore with multiple related entities
Joint Venture: ₹200 crore investment proposed with The Peace Mission Private Limited for wellness beverages under 'PEACE ROGERS' brand
Director Appointments: Dr. Huzaifa Habil Khorakiwala as Chairman, Mr. Nikhil Saran Mathur as Non-Executive Director, and Ms. Nitu Vishwakarma as Independent Director
Risk Management Framework
The company maintains comprehensive risk management covering credit, liquidity, and market risks. Financial assets and liabilities are primarily measured at amortized cost, with management assessing that fair values approximate carrying amounts due to short-term maturities. The board has overall responsibility for risk oversight assisted by internal audit.
Capital Structure & Corporate Actions
Post preferential allotment of 19,33,324 equity shares, the issued capital stands at ₹6,23,33,240. The stock split will increase outstanding shares from 62,33,324 to 3,11,66,620 while maintaining the same total capital amount. The company has expanded its business objects to include edible oil and is preparing for CSR applicability from FY 2026-27.
Regulatory Compliance & Governance
The disclosure is filed pursuant to SEBI LODR Regulation 34(1). The company is exempt from detailed Corporate Governance Report requirements due to its capital size. Statutory auditors Giriraj Bang & Co. continue until the 41st AGM, with auditor remuneration of ₹5.00 lakhs for FY26.