Board Meeting Details

The Board of Directors meeting was held on October 30, 2026, commencing at 11:00 AM and concluding at 2:50 PM.

Financial Results Approval

The Board approved the Unaudited Standalone and Consolidated Financial Results as per Indian Accounting Standards (IND AS) for the quarter and half year ended September 30, 2026, along with the Limited Review Report received from the auditors.

Standalone Financial Performance (Quarter Ended September 30, 2026)

  • Revenue from operations: ₹361.88 crore
  • Other income: ₹8.52 crore
  • Total income: ₹370.40 crore
  • Total expenses: ₹314.19 crore
  • Profit before tax: ₹56.21 crore
  • Tax expense: ₹14.35 crore (Current tax: ₹14.35 crore, Deferred tax: ₹0.00 crore)
  • Net profit after tax: ₹41.86 crore
  • Earnings per share (Basic & Diluted): ₹58.24

Standalone Financial Performance (Half Year Ended September 30, 2026)

  • Revenue from operations: ₹946.15 crore
  • Other income: ₹14.19 crore
  • Total income: ₹960.34 crore
  • Total expenses: ₹761.45 crore
  • Profit before tax: ₹198.89 crore
  • Tax expense: ₹50.46 crore (Current tax: ₹50.60 crore, Deferred tax: ₹-0.14 crore)
  • Net profit after tax: ₹148.43 crore
  • Earnings per share (Basic & Diluted): ₹206.50

Comparative Standalone Performance (Quarter Ended September 30, 2025)

  • Revenue from operations: ₹247.57 crore
  • Other income: ₹7.05 crore
  • Total income: ₹254.62 crore
  • Net profit after tax: ₹13.25 crore
  • Earnings per share: ₹18.43

Standalone Balance Sheet (As at September 30, 2026)

  • Total assets: ₹1,020.37 crore (Previous: ₹824.44 crore as at March 31, 2026)
  • Property, plant and equipment: ₹329.12 crore
  • Capital work-in-progress: ₹69.32 crore
  • Inventories: ₹138.24 crore
  • Investments: ₹183.98 crore
  • Trade receivables: ₹127.17 crore
  • Cash and cash equivalents: ₹26.30 crore
  • Total equity: ₹684.38 crore
  • Borrowings: ₹122.70 crore (Non-current: ₹105.47 crore, Current: ₹17.23 crore)

Standalone Cash Flow (Half Year Ended September 30, 2026)

  • Net cash from operating activities: ₹263.53 crore
  • Net cash used in investing activities: ₹258.25 crore
  • Net cash from financing activities: ₹11.83 crore
  • Net increase in cash: ₹17.11 crore

Consolidated Financial Performance (Quarter Ended September 30, 2026)

  • Revenue from operations: ₹462.56 crore
  • Other income: ₹8.00 crore
  • Total income: ₹470.56 crore
  • Profit before tax: ₹72.81 crore
  • Net profit after tax: ₹54.82 crore (attributable to owners)
  • Earnings per share (Basic & Diluted): ₹76.27

Consolidated Financial Performance (Half Year Ended September 30, 2026)

  • Revenue from operations: ₹1,142.62 crore
  • Other income: ₹35.25 crore
  • Total income: ₹1,177.87 crore
  • Profit before tax: ₹246.45 crore
  • Net profit after tax: ₹185.73 crore (attributable to owners)
  • Earnings per share (Basic & Diluted): ₹258.40

Subsidiary Information

The consolidated results include six subsidiaries: Vadilal Industries (USA) Inc., Vadilal Industries Pty Ltd., Varood Industries Limited, Vadilal Delight Limited, Vadilal Soda Fountain, and Krishna Krupa Corporation.

Three subsidiaries with total assets of ₹593.06 crore were reviewed by other auditors. Three additional subsidiaries with total assets of ₹3.68 crore were not reviewed/audited by their auditors but are not material to the Group.

Business Segment Information

The Company is primarily engaged in one business segment namely Food segment as determined by the Chief Operating Decision Maker in accordance with IND AS 108.

Corporate Developments

1. The Board of Directors on March 29, 2025, approved a proposed scheme of amalgamation of three promoter group companies: Vadilal Finance Company Private Limited, Veronica Constructions Private Limited, and Vadilal International Private Limited. The scheme has been filed with stock exchanges for approval.

2. The existing Sale and Purchase Agreement with Vadilal Enterprises Limited expired on September 30, 2026. Shareholders of both companies approved a new arrangement for one year from November 1, 2026, to October 31, 2027, at their respective meetings held on October 27, 2026.

Auditor Review

Walker Chandiok & Co LLP conducted limited review of the financial results and concluded that nothing has come to their attention that causes them to believe the statements contain any material misstatement.