Outcome of Board Meeting held on 29.05.2025
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The Board of Tanvi Foods approved audited standalone and consolidated financial results for the half-year and full year ended March 31, 2025, with the statutory auditors issuing an unqualified opinion. The Board also approved the divestment of its 100% stake in wholly owned subsidiary Squarepeg Distribution Services Private Limited (SDSPL) for Rs. 26.70 lakhs (2,67,000 shares at Rs. 10 each). The buyers are Mr. Sri Nagaveer Adusumilli and Ms. Vasavi Adusumilli, who are a promoter and a KMP (Whole Time Director & CFO), making this a related party transaction done at arm's length. SDSPL had nil revenue and only Rs. 1.05 lakh of other income in FY25, with a net worth of Rs. 67 lakhs, indicating it was a non-operating subsidiary. FY25 standalone total income rose to Rs. 8,482 lakhs (from Rs. 8,140 lakhs) but PAT slipped to Rs. 36.55 lakhs (from Rs. 37.87 lakhs); consolidated PAT also fell to Rs. 36.12 lakhs from Rs. 44.94 lakhs. Funds raised via preferential allotment (Rs. 35.84 crore) have been fully utilized with no deviation reported.
Routine corporate housekeeping with limited stock impact. The divestment unwinds a dormant subsidiary via a related-party buyout at modest value, while the FY25 results show flat-to-slightly-lower profitability despite modest revenue growth, which may draw neutral-to-slightly-negative attention from investors.