Outcome of Board Meeting
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.5 pts less than Nifty Microcap 250 and 1.2 pts less than its Other Food Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Kore Foods Limited (BSE: 500458) board on May 28, 2025 approved audited financial results for Q4 and FY ended March 31, 2025, with statutory auditor VC Shah & Co. issuing an unmodified (clean) opinion. The auditor highlighted an 'Emphasis of Matter' noting the company has executed a revival plan with Team24 Foods and Beverages Private Limited through a preferential allotment of 1.40 crore equity shares (Rs. 14 crore), which turned its net worth positive and restored its Going Concern status. A one-time settlement (OTS) with a director waived Rs. 2.82 crore of an unsecured loan, booked as an exceptional item. The board also recommended shareholder approval for: shifting the registered office within Goa, changing the company's name (likely to Team24 Consumer Products), and seeking enhanced borrowing, lending, and security-creation powers under Sections 180 and 186 of the Companies Act.
This is effectively a turnaround announcement — the company has been rescued from negative net worth through Team24's acquisition/preferential issue, and operational cleanup is underway. However, core business remains minimal (revenue from operations near zero, cash loss of Rs. 20.26 lakh in FY25). Shareholders should watch the proposed name change and the request for higher borrowing limits, both of which require their approval at the upcoming general meeting.