We wish to inform you that the object clause of the memorandum of association of the company approved by the board subject to approval of the shareholders by postal ballot.
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Kovilpatti Lakshmi Roller Flour Mills reported Q2 FY26 standalone revenue of Rs. 10,384.58 lakhs, down from Rs. 10,904.49 lakhs in Q2 FY25. H1 FY26 revenue stood at Rs. 20,344.33 lakhs versus Rs. 20,988.78 lakhs a year earlier. The company swung to a net profit of Rs. 75.37 lakhs in Q2 FY26 from a loss of Rs. 61.17 lakhs in Q2 FY25, while H1 FY26 net profit was Rs. 438.90 lakhs, boosted by an exceptional item of Rs. 294.71 lakhs from sale of an asset. The Food division contributed Rs. 15,410.53 lakhs and the Engineering division Rs. 5,021.37 lakhs to H1 revenues. Separately, the board approved entering the hotel and hospitality business as a new line, with an estimated capex of up to Rs. 25 crores, subject to shareholder approval via postal ballot. The statutory auditor issued an unmodified review opinion on the results.
The pivot into hospitality is a significant diversification move beyond the core flour milling and engineering businesses, but execution risk remains and the Rs. 25 crore capex is sizeable relative to the company's net worth of around Rs. 70 crores. Financially, the turnaround to profitability in H1 is encouraging but is propped up by a one-time asset sale, while underlying revenues continue to decline.