DSM Fresh Foods Limited held its 11th Annual General Meeting on September 29, 2026, via video conferencing. The meeting focused on corporate governance updates and structural changes, including a shift in the registered office location.

The Board proposed moving the company's registered office from the National Capital Territory of Delhi to the State of Haryana. This change was placed before shareholders for approval as part of the special business agenda.

Share capital and employee incentives

Shareholders considered the reclassification of the company's authorised share capital. This resolution included a consequent amendment to the Capital Clause in the Memorandum of Association.

The meeting also addressed employee compensation structures. Members reviewed the approval of the "DSM Fresh Foods Limited Employees Stock Option Scheme-2026". Additionally, they considered extending this ESOP scheme to employees of group companies, holding companies, subsidiaries, and associate companies.

Related party transactions and director appointments

A related party transaction involving remuneration revision for Ms. Priya Aggarwal at Avyom Foodtech Private Limited, a subsidiary, was presented for approval. Under ordinary business, the appointment of Mr. Mohammad Arif Khan as a director, who retires by rotation, was also tabled.

Meeting logistics and attendance

The meeting commenced at 3:04 pm and concluded at 3:20 pm. It was attended by two directors, Mr. Deepanshu Manchanda and Mr. Achal Kapoor. Ms. Suman Chaudhary served as the independent non-executive director present. A total of 20 members participated, including two individuals from the promoter and promoter group.

Remote e-voting facilities were provided by Central Depository Services (India) Limited. The voting window opened on September 26, 2026, and closed on September 28, 2026. Results are scheduled for announcement within two working days.

DSM Fresh Foods Limited reported a 69% year-on-year increase in revenue from operations to ₹2,208 crore for the financial year ended March 31, 2026. The company also disclosed net profit after tax of ₹143 crore, up nearly 60% from the previous year.

The growth was primarily driven by a significant shift in channel mix towards institutional and HoReCa customers, which now account for 68% of total revenue compared to 48% in the first half of FY25. This expansion contributed to a rise in EBITDA margins to approximately 14% from 12.2% in FY25.

Financial Performance

While top-line growth was robust, gross margins contracted by 568 basis points to 29.2% from 34.8% in FY25. The company attributed this to higher raw material costs and mix shifts. Trade receivables turnover declined by 48.69% to 6.09 from 11.87, reflecting extended credit terms granted to key institutional clients.

Strategic Developments

The Board of Directors proposed several key resolutions at the upcoming Annual General Meeting scheduled for September 29, 2026:

• ESOP Scheme: Approval for the DSM Fresh Foods Limited Employees Stock Option Scheme-2026, granting up to 12 lakh stock options to eligible employees and group companies.
• Registered Office Shift: Proposal to shift the registered office from Delhi to Haryana to enhance administrative efficiency and reduce operational costs.
• Capital Restructuring: Reclassification of authorized share capital to facilitate future fundraising without increasing the overall limit.

What the Numbers Show

The divergence between rising revenue and contracting gross margins highlights the cost pressures associated with scaling the institutional channel. While the B2B segment provides volume stability, it operates on thinner margins compared to direct-to-consumer sales. The company’s strategy relies on operational leverage and backward integration in aquaculture to restore margin expansion in subsequent years.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE0SUM01015/4b7dd3ec-77d5-4585-9ad3-fd9a12ca5fd3.pdf