The Exchange had sought clarification from Madhya Bharat Agro Products Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: The response of the Company is enclosed.
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Madhya Bharat Agro Products Limited submitted audited financial results for Q4 and FY ended March 31, 2026 to NSE following an exchange query. The company clarified it inadvertently missed filing the mandatory declaration confirming auditors gave an unmodified (clean) opinion on the financial results. The auditors, M/s Ashok Kanthari & Associates, confirmed the report shows true and fair view with no qualifications. Financially, the company posted strong growth with revenue of Rs 18,670 Cr (up 76% YoY) and profit after tax of Rs 1,502 Cr (up 161% YoY). EPS improved to Rs 17.14 from Rs 6.56. The board recommended dividend of Rs 0.50 per share. However, cash flow from operations turned negative at Rs 274 Cr due to surge in working capital (inventories rose Rs 1,932 Cr, receivables rose Rs 1,701 Cr) and heavy capex of Rs 3,986 Cr funded by increased borrowings.
Regulatory compliance issue is resolved as auditors confirmed clean opinion, removing any qualification risk. The stock may see positive reaction given strong 161% profit growth, though rising debt and negative operating cash flow could raise concerns about capital allocation and financial discipline.