Krishival Foods Limited has informed the Exchange regarding Outcome of Board Meeting held on March 12, 2026.
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Krishival Foods' board approved an additional loan of Rs. 20 crore to its subsidiary Melt 'N' Mellow Foods Private Limited (Ice Cream Division), raising the total approved loan to Rs. 45 crore (earlier Rs. 25 crore). The loan carries 10% interest and is meant for the subsidiary's working capital needs, with the amount to be converted into equity shares in one or more tranches in the future, subject to shareholder approval. Since promoter director Ms. Aparna Bangar is also a director in the subsidiary, this is classified as a Related Party Transaction, and the company has initiated a postal ballot (e-voting from March 15 to April 13, 2026) to seek members' approval. The subsidiary has shown strong growth, with turnover rising from Rs. 16.94 crore in FY22 to Rs. 49.94 crore in FY25. The board also approved other related party transactions including a Rs. 6 crore purchase of a factory building from another subsidiary and a Rs. 5 crore corporate guarantee for the ice cream subsidiary's bank loan.
The funding supports the fast-growing ice cream subsidiary but future conversion of loans into equity may lead to dilution for existing shareholders. Shareholders will need to vote on this related party transaction via postal ballot, with results expected by April 14, 2026.