The outcome of meeting of Board of Directors held on Friday, May 29, 2026 has been attached herewith.
Awaiting price reaction for this filing.
Dharti Proteins Ltd (formerly Devika Proteins Ltd) reported audited standalone financial results for FY 2026 with a net loss of Rs. 84.65 Lakhs, compared to a minimal loss of Rs. 0.67 Lakhs in the previous year. Revenue from operations stood at Rs. 7.20 Lakhs for the full year. The company has undergone significant restructuring under the Insolvency and Bankruptcy Code, with a Resolution Plan approved by NCLT in November 2025. Under this plan, equity shares were restructured with 4,25,000 fresh shares issued to the Successful Resolution Applicant. The auditor issued an unmodified opinion but drew emphasis of matter on the resolution plan implementation and disclaimer on internal financial controls. Operating cash outflow was Rs. 470.10 Lakhs, indicating severe cash burn.
The company remains deeply loss-making with significant negative cash flows despite the insolvency resolution. Shareholders face extreme risk as the stock underwent major restructuring with massive dilution. The disclaimer on internal controls raises additional governance concerns.