Pursuant to Regulation 30 of SEBI(Listing Obligations & Disclosure Requirements) Regulations, 2015, please find enclosed herewith Outcome of Board Meeting held today i.e. 27.05.2025. This ....

Emphasis of matterExceptional itemRevenue declinedEBITDA margin compressionProfit growth above 25%Contingent liabilities increasedResults View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

-2.3%Reaction day

₹56.00

prior close

₹55.98

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used+0.3%-2.6% vs market

Dairy Products peers, median of 8sector-0.2%-2.1% vs sector

On the reaction day the stock moved 2.6 pts less than Nifty Microcap 250 and 2.1 pts less than its Dairy Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Sessions after the filingfrom the prior close

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Reaction day

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Next day

-0.9+0.7-1.6+1.0-1.9

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15d

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-13.1-1.0-12.2-5.6-7.6

UpDownMarket · Nifty Microcap 250Sector · Dairy Products peers, median of 8Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

The board approved the audited financial results for Q4 and FY25 (year ended March 31, 2025). Revenue from operations fell about 3.7% YoY to Rs 348.09 crore from Rs 361.50 crore. Reported PAT jumped to Rs 82.96 crore versus Rs 34.23 crore last year, but this was almost entirely driven by a one-time exceptional gain of Rs 56.32 crore tied to the Punjab National Bank One-Time Settlement (OTS); pre-exceptional operating profit actually fell about 34% to Rs 9.79 crore. The PNB OTS is now fully completed, with all bank dues cleared and long-term borrowings reduced. The company raised money from promoters via 86 lakh share warrants, of which 23 lakh were converted to equity at Rs 50 each (Rs 10 face + Rs 40 premium), strengthening reserves from negative to Rs 6.82 crore. The auditor issued an unmodified (clean) opinion with an Emphasis of Matter paragraph on the OTS. A major overhang remains the Haryana milk cess demand of Rs 544 crore; the company has provisioned Rs 21.30 crore and deposited Rs 9.91 crore, with the matter sub-judice.

Likely market impact

The headline PAT jump is misleading because it depends on a one-time OTS write-back, not an improvement in core dairy operations. Underlying profits are weaker, and the open milk cess demand of over Rs 500 crore is a significant contingent risk. Net-net, the clean audit and bank-debt clearance are positives, but core business performance and the unresolved cess liability keep the picture mixed for shareholders.