Dharti Proteins Ltd has secured listing approval from BSE Limited for 5,00,000 equity shares of Rs. 10 each, following a resolution plan sanctioned by the National Company Law Tribunal (NCLT), Ahmedabad Bench. The approval, conveyed via letter DCS/AMAL/NB/IBC/52/2026-27 dated June 16, 2026, paves the way for the shares to be traded on the exchange. The company is currently executing corporate actions with NSDL and CDSL and will shortly apply for trading permission.

The share allotment was executed pursuant to the NCLT order dated November 18, 2025. The distribution includes 25,000 equity shares allotted due to a reduction of capital. The remaining 4,75,000 equity shares were allotted on a preferential basis, with 4,25,000 shares going to the Successful Resolution Applicant (SRA), identified as the Promoter or Promoter Group, and 50,000 shares allocated to a Secured Financial Creditor.

Allotment Breakdown

The following table details the distribution of the 5,00,000 equity shares approved for listing:

To facilitate trading, Dharti Proteins must submit several documents to the exchange, including ISIN activation letters, an auditor's certificate for book value determination, and confirmation letters from depositories regarding the credit of shares. Additionally, the company is required to provide pre- and post-arrangement shareholding patterns and lock-in confirmations as per SEBI (ICDR) Regulations, 2018.

The intimation was submitted in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Dharti Proteins Limited, formerly known as Devika Proteins Limited, is headquartered in Ahmedabad, Gujarat.

Dharti Proteins Limited reported a net loss of ₹84.65 lakh for the financial year ended March 31, 2026, following the implementation of a resolution plan approved by the National Company Law Tribunal (NCLT). The company's Board of Directors approved the audited standalone financial results for the quarter and year ended March 31, 2026, at a meeting held on May 29, 2026. The statutory auditors, M/s. N. S. Nanavati & Co., issued an unmodified opinion on the results, though they drew attention to the extinguishment of liabilities and restructuring of equity pursuant to the resolution plan.

Financial Performance

The company recorded zero revenue from operations for the quarter and year ended March 31, 2026. Total revenue stood at ₹0.04 lakh for the quarter and ₹2.97 lakh for the year, derived solely from other income. Total expenses for the year were ₹17.61 lakh, up from ₹7.87 lakh in the previous year. The company reported an exceptional item of ₹70.01 lakh for the year, primarily relating to the waiver and extinguishment of liabilities under the resolution plan. Consequently, the profit for the period from continuing operations was a loss of ₹84.65 lakh for FY26, compared to a loss of ₹0.67 lakh in FY25.

Key Financial Metrics

Resolution Plan Impact

The financial results reflect the impact of the resolution plan approved by the Hon'ble NCLT, Ahmedabad Bench, on November 18, 2025. Pursuant to the plan, the company's paid-up equity share capital was restructured, involving the cancellation of existing shares and the issuance of fresh equity. The public shareholding was reduced to 25,000 equity shares, while 50,000 equity shares were allotted to Financial Creditors and 4,25,000 equity shares were allotted to the Successful Resolution Applicant and its group of promoters. As a result, the paid-up equity share capital as of March 31, 2026, stood at ₹50 lakh, compared to ₹1,027.72 lakh in the previous year.

Balance Sheet and Cash Flows

The company's total assets decreased to ₹72.30 lakh as of March 31, 2026, from ₹670.06 lakh in the prior year, largely due to the write-off of receivables and other assets. Total equity turned negative at ₹263.62 lakh. Cash and cash equivalents decreased significantly to ₹3.29 lakh from ₹129.90 lakh, primarily due to cash used in operations. The net cash outflow from operating activities was ₹470.10 lakh, while investing activities provided a net inflow of ₹311.80 lakh, mainly from investments in fixed deposits.