Standalone Audited Financial Results For the Quarter and Financial Year Ended March 31, 2026
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Modern Dairies reported total income of Rs 341.22 Crores for FY2026, down from Rs 348.91 Crores in FY2025, representing a revenue decline of approximately 2.3%. Profit after tax dropped significantly to Rs 4.88 Crores compared to Rs 82.96 Crores in the previous year, a decline of about 94%. The company recorded exceptional items of Rs 9.79 Crores (net) during Q4. The statutory auditor APT & Co LLP issued an unmodified opinion, and the Board declared an unmodified audit report. Promoter group converted 28 lakh share warrants into equity shares at Rs 50 per share (including Rs 40 premium). The company has a pending Milk Cess liability case before the Supreme Court with a demand of Rs 544.31 Crore.
The sharp decline in profitability despite relatively stable revenues indicates significant margin compression, which may concern investors. The large contingent liability for Milk Cess and the exceptional items in Q4 add uncertainty. The clean audit opinion provides some comfort, but the earnings decline warrants monitoring.