Approval of Audited Financial Results along with Statement of Impact of Audit Qualifications and Related Party Disclosure for the Quarter / Year Ended on March 31, 2026

Tasty Dairy Specialities Ltd reported audited financial results for FY 2025-26 under Corporate Insolvency Resolution Process (CIRP) that commenced on October 7, 2025, after Punjab National Bank filed an application under Section 7 of IBC. The company has accumulated losses with net worth fully eroded, and manufacturing operations are suspended. Revenue from operations declined significantly to Rs. 332.03 lakhs from Rs. 644.27 lakhs in the previous year. The company reported a net loss of Rs. 993.15 lakhs for the year compared to a loss of Rs. 496.82 lakhs in the previous year. The auditor issued a qualified opinion due to multiple material uncertainties including incomplete litigation records, assets sold under SARFAESI not recognized in books, pending impairment testing, and inability to confirm balances of receivables, payables, and advances. The financial statements were prepared on a non-going concern basis due to material uncertainty about the company's ability to continue operations. 11 prospective resolution applicants have submitted Resolution Plans currently under evaluation with the Committee of Creditors.