Annual Report for the FY 2024-25 of Team24 Consumer Products Limited (Formally known as Kore Foods Limited)
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Team24 Consumer Products Ltd (formerly Kore Foods Limited) submitted its 42nd Annual Report for FY 2024-25 along with the notice of its 42nd AGM scheduled for September 29, 2025. The company had no operational revenue and reported total income of ₹22.77 lakh entirely from other income, but swung to a net profit of ₹254.31 lakh (vs a loss of ₹38.03 lakh last year), driven mainly by an exceptional item of ₹282.12 lakh. EPS improved from ₹(0.33) to ₹0.99. No dividend was recommended. A major change in control occurred during the year when Team24 Foods and Beverages Pvt Ltd acquired a controlling stake via a Share Purchase Agreement and a preferential allotment of 1.4 crore equity shares, triggering a mandatory open offer to public shareholders under SEBI SAST rules. Several board and KMP changes took place, including a new Managing Director, CFO, and Company Secretary.
The company has no core operating business, and the swing to profit is driven by a one-time exceptional item rather than sustainable earnings. Shareholders should note the change in control and pending open offer, which provides a potential exit opportunity for public investors. Operational performance remains weak.