Date of Communication and Nature of Query
Vidhi Specialty Food Ingredients Limited submitted a clarification letter to the National Stock Exchange of India Limited (NSE) on May 27, 2026, in response to an NSE email query dated May 25, 2026. The query concerned deficiencies observed in the Financial Results for the quarter/year ended March 31, 2026, which were submitted to the exchange on May 14, 2026.
Company's Clarification on Filing Deficiencies
The company provided point-by-point clarification on three specific deficiencies identified by NSE:
Deficiency 1: Machine Readable Form/Legible Copy Not Submitted
- Clarification: The initial submission contained an un-isolated software compression glitch that occurred while compiling the final PDF bundle under tight submission timelines. This glitch rendered the covering page clearly but over-compressed and pixelated the subsequent scanned sheets containing the financial statements.
- Corrective Action: The company re-uploaded a perfectly legible, high-resolution, searchable, and machine-readable PDF copy of the complete financial results through the Result Adequacy Accuracy module.
Deficiency 2: Financial Results Not Submitted Within Prescribed Timeframe
- Clarification: The company asserted there was no delay on their part. Their compliance team initiated submission on the NEAPS portal immediately upon conclusion of the board meeting at 12:38 PM on May 14, 2026. However, the NSE portal repeatedly failed to process the data intake, throwing persistent system errors.
- The company successfully filed with BSE at 12:45 PM on the same day. After continued attempts failed on NEAPS due to portal crashes (again at 12:58 PM), the Secretarial Department proactively emailed the entire Financial Results PDF package directly to listingfr@nse.co.in at 1:17 PM on May 14, 2026.
- Evidence Provided: The company attached time-stamped portal error screenshots (Annexure B) and the email sent to NSE (Annexure A) as evidence that the delay was due to an external network application exception on the NSE portal.
Deficiency 3: XBRL Discrepancies in Consolidated PBT and PAT
- Clarification: The mismatch between XBRL and PDF figures was due to an inadvertent data-tagging mapping error in the XBRL instance utility tool during a manual override phase caused by the portal disruption.
- Corrective Action: The company completely revised, validated, and uploaded the corrected XBRL instance document to ensure it matches the PDF records precisely. The company confirmed that the financial numbers appearing in the physical PDF are the true, board-approved figures.
Reference to Regulatory Compliance
The company's initial result submission on May 14, 2026, was made pursuant to Regulation 30 and 33 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The clarification letter emphasizes the company's commitment to strict compliance with SEBI LODR Regulations and promises to implement additional internal checks to prevent such clerical errors in the future.
Details of Financial Results Clarification
The audited financial results for the year ended March 31, 2026, showed the following key figures:
Standalone Financials (₹ in lakhs):
- Revenue from Operations: ₹38,002.62 (FY26) vs ₹38,230.30 (FY25)
- Total Income: ₹38,183.10 (FY26) vs ₹38,389.35 (FY25)
- Profit Before Tax: ₹6,597.88 (FY26) vs ₹6,016.17 (FY25)
- Net Profit: ₹4,915.25 (FY26) vs ₹4,357.25 (FY25)
Consolidated Financials (₹ in lakhs):
- Revenue from Operations: ₹38,002.62 (FY26) vs ₹38,230.30 (FY25)
- Total Income: ₹38,181.36 (FY26) vs ₹38,388.08 (FY25)
- Profit Before Tax: ₹6,578.35 (FY26) vs ₹5,998.56 (FY25)
- Net Profit: ₹4,895.72 (FY26) vs ₹4,339.62 (FY25)
The company operates in a single business segment: manufacturing and trading of food colors and chemicals. The statutory auditors, Bhuta Shah & Co LLP (FRN: 101474W/W100100), issued unmodified audit opinions on both the standalone and consolidated financial results for the quarter and year ended March 31, 2026.