The Board of Directors of Tasty Dairy Specialities Limited had in its Board Meeting as held today i.e. on Thursday, August 14, 2025 considered, approved and took on record the Un-audited ....
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Tasty Dairy Specialities Limited announced its unaudited standalone financial results for Q1 FY26 (quarter ended June 30, 2025). Revenue from operations stood at ₹21,990 lakhs versus ₹20,208 lakhs in the same quarter last year. However, the company posted a loss before tax of ₹(200.79) lakhs, compared to a profit of ₹237.88 lakhs in Q1 FY25. Loss for the quarter widened to ₹(199.50) lakhs from ₹(161.28) lakhs a year ago, with basic EPS at ₹(1.00). The results come with a severely negative backdrop: all bank accounts have been frozen since November 2023, the company's net worth has turned negative, and lenders have invoked SARFAESI proceedings, moving the matter to NCLT and DRT for recovery. A bank also sold a hypothecated property worth ₹9.81 crores to recover dues. Manufacturing activities reportedly ceased in the last quarter of FY25. The statutory auditor issued a Qualified Conclusion, citing material uncertainty over the company's ability to continue as a going concern, non-compliance with Ind AS, and unconfirmed debtor/creditor balances. Salaries are being paid by promoters out of their own funds, and banking is being routed through third parties, including related parties.
This is a deeply distressed filing. Shareholders face significant risk as the company is effectively under lender-driven recovery action with frozen bank accounts, negative net worth, and a qualified audit report flagging going-concern doubt. Expect sharp negative market reaction and elevated risk of further credit events or insolvency proceedings.