Key Quantitative Figures

  • Revenue from Operations: ₹1,217.28 crore (FY26) vs ₹1,119.04 crore (FY25)
  • EBITDA: ₹42.34 crore (FY26) vs ₹29.89 crore (FY25)
  • Profit Before Tax: ₹14.11 crore (FY26) vs ₹7.62 crore (FY25)
  • Profit After Tax: ₹10.45 crore (FY26) vs ₹5.73 crore (FY25)
  • Recommended Dividend: ₹1.50 per equity share (15%)
  • Total Equity: ₹33.09 crore (FY26) vs ₹22.27 crore (FY25)
  • Total Borrowings: ₹74.22 crore (FY26) vs ₹60.75 crore (FY25)
  • Related Party Transaction Value: ₹1,373 crore with Vadilal Industries Limited

Dates of Significance

  • AGM Date: September 8, 2026 at 11:00 AM through VC/OAVM
  • Book Closure: September 2, 2026 to September 8, 2026 (both days inclusive)
  • Record Date for Dividend: September 1, 2026
  • E-voting Period: September 5, 2026 (9:00 AM) to September 7, 2026 (5:00 PM)
  • Financial Year: April 1, 2025 to March 31, 2026

Parties Involved

  • Board of Directors: Mr. Devanshu L. Gandhi, Mr. Kalpit R. Gandhi, Mr. Janmajay V. Gandhi, Ms. Mansi Vyas, Mr. Rajesh K. Pandya
  • Company Secretary: Ms. Nikita Udhani
  • Chief Financial Officer: Mr. Rajesh Bhagat
  • Statutory Auditors: Walker Chandiok & Co LLP
  • Secretarial Auditors: SPAN & Co. Company Secretaries, LLP
  • Bankers: CSB Bank Limited, IndusInd Bank Limited
  • Registrar & Share Transfer Agent: MCS Share Transfer Agent Limited
  • Related Party: Vadilal Industries Limited

AGM Agenda Items

Ordinary Business

1. Adoption of audited financial statements for FY 2025-26

2. Declaration of dividend of ₹1.50 per equity share

3. Re-appointment of Mr. Janmajay V. Gandhi as Director retiring by rotation

Special Business

4. Appointment of Ms. Shaily J. Dedhia as Independent Director for 5 years (August 5, 2026 to August 4, 2031)

5. Appointment of M/s. SPAN & Co. Company Secretaries, LLP as Secretarial Auditors for 5 years (FY 2026-27 to FY 2030-31) at fees of ₹80,900 per annum plus taxes

6. Renewal of material related party transaction with Vadilal Industries Limited for 1 year with aggregate value not exceeding ₹1,373 crore

Financial Performance Highlights

  • Revenue growth of 8.78% year-on-year
  • Finance cost: ₹8.23 crore (FY26) vs ₹6.14 crore (FY25)
  • Depreciation & amortization: ₹20.00 crore (FY26) vs ₹16.13 crore (FY25)
  • Tax expense: ₹3.66 crore (FY26) vs ₹1.89 crore (FY25)
  • Earnings per share: ₹121.14 (FY26) vs ₹66.43 (FY25)
  • Total comprehensive income: ₹10.95 crore (FY26) vs ₹4.34 crore (FY25)

Capital Structure

  • Authorized Share Capital: ₹2.00 crore (20,00,000 equity shares of ₹10 each)
  • Issued, Subscribed and Paid-up Capital: ₹0.86 crore (8,62,668 equity shares of ₹10 each)
  • No change in share capital during the year

Related Party Transactions

The company seeks shareholder approval for renewal of supply arrangement with Vadilal Industries Limited (related party) for:

  • Period: 1 year
  • Aggregate value: Not exceeding ₹1,373 crore
  • Nature: Purchase of ice cream, frozen desserts, flavored milk, dairy products and processed food products
  • Historical transactions: ₹878.20 crore in FY26, ₹512.99 crore in FY27 (up to quarter preceding approval)
  • Transaction is in ordinary course of business and at arm's length

Corporate Governance

  • Board met 6 times during FY 2025-26
  • Composition: 3 Executive Directors, 2 Independent Directors (as of March 31, 2026)
  • Committees: Audit Committee, Nomination and Remuneration Committee, Stakeholders' Relationship Committee
  • Corporate Governance provisions became applicable from April 1, 2026, with compliance required by September 30, 2026

Shareholding Pattern (as on March 31, 2026)

  • Total shareholders: 1,312
  • Promoter & Promoter Group holding: 39.81%
  • Public holding: 60.19%
  • 92.45% shareholders hold up to 500 shares representing 8.64% of share capital

Dividend Information

  • Dividend of ₹1.50 per share recommended for FY 2025-26
  • Payment subject to TDS deduction as per Finance Act, 2020
  • Unclaimed dividends for FY 2019, 2022, 2023, 2024, 2025 due for transfer to IEPF on specified dates

Other Material Information

  • Credit rating upgraded to "IND A+/Stable/IND A1+" by India Ratings & Research
  • Additional credit facilities sanctioned: ₹23 crore term loan from CSB Bank, ₹25 crore lease finance from Tata Capital
  • Company targets revenue of ₹1,600 crore in FY 2026-27
  • Marketing expenditure includes digital campaigns across Meta, YouTube, JioHotstar, Amazon MX Player, Spotify etc.