Outcome of Board Meeting held on Wednesday, August 13, 2025
Price
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Awaiting price reaction for this filing.
The board approved unaudited financial results for Q1 FY26 (quarter ended June 30, 2025). Revenue from operations stood at Rs. 115.81 lakhs, down from Rs. 125.50 lakhs in Q1 FY25, while the company reported a net loss of Rs. 50.79 lakhs, similar to the Rs. 52.63 lakhs loss a year ago. The company has been operationally inactive after selling its confectionery trademarks, recipes and IP to Reliance Consumer Products in FY24. The board also re-appointed M/s. S.R. Padhye & Co. as Secretarial Auditor for FY26 and appointed M/s. Patkar and Pendse as new Statutory Auditors for a 5-year term, replacing the previous firm. The auditor flagged a labour court ruling requiring Rs. 28.22 lakh in gratuity plus Rs. 33.87 lakh in interest to 21 former seasonal workers, which the company is contesting and has not provisioned for.
Shareholders should note continued quarterly losses and the company's dormant operating status after the confectionery IP sale. The unresolved labour court liability of ~Rs. 62 lakhs (no provision made) is a key risk, while the new statutory auditor appointment signals a governance change. Stock price may remain subdued given lack of active business operations and persistent losses.