M R Maniveni Foods reported a 16% decline in revenue from operations for FY26, driven by lower sales volumes in the pulses segment. Despite the topline contraction, the company maintained stable profitability with net profit remaining largely unchanged year-on-year.

The company also announced the appointment of two new directors and approved its 16th annual general meeting (AGM) for September 28, 2026, during a board meeting held on September 5, 2026.

Financial Performance

Revenue from operations fell to ₹16,974.64 crore in FY26, down from ₹20,348.38 crore in FY25. The decline reflects broader market challenges in the pulses industry, including fluctuating raw material prices and supply availability.

EBITDA rose marginally by 1.1% to ₹791.06 crore, indicating improved operational efficiency despite lower sales. Net profit after tax decreased slightly by 0.2% to ₹385.80 crore. Other income increased to ₹9.50 crore from ₹3.77 crore in the previous year, primarily due to higher interest income from bank deposits.

Balance Sheet and Working Capital

Total assets grew to ₹5,379.83 crore from ₹4,043.84 crore in FY25. This increase was largely driven by a significant rise in inventories, which surged to ₹2,546.73 crore from ₹1,391.26 crore. Finished goods inventory alone jumped to ₹1,987.29 crore, up from ₹651.16 crore, suggesting stockpiling ahead of anticipated demand or seasonal variations.

Short-term borrowings increased to ₹1,778.06 crore from ₹1,338.89 crore, while long-term borrowings declined to ₹388.05 crore from ₹706.89 crore. Trade payables rose sharply to ₹895.90 crore from ₹95.60 crore, indicating extended credit terms from suppliers or delayed payments.

Director Appointments

The board appointed Mr Manickam Muthukumar as an additional independent director for a five-year term starting September 5, 2026. He is a qualified cost accountant with intermediate qualifications in chartered accountancy and company secretaryship.

Ms M Manimegalai was appointed as a non-executive, non-independent director effective September 5, 2026. She is liable to retire by rotation. Ms Manimegalai is a doctor by profession with knowledge of the food industry and is the daughter of Managing Director K R Manikandan and Whole Time Director Mrs M Chandra.

AGM Details

The 16th AGM will be held on September 28, 2026, at 10:15 am through video conferencing or other audio-visual means. E-voting will commence on September 25, 2026, at 9:00 am and conclude on September 27, 2026, at 5:00 pm. The cut-off date for e-voting eligibility is September 21, 2026.

The company also appointed M/s J Ganesh & Co., Chartered Accountants, Chennai, as internal auditors for the year 2026-27. Statutory auditors M/s Krishnaan & Co., Chartered Accountants, issued an unqualified audit report with no adverse comments.

CapitalSquare Financial Services Pvt Ltd has increased its stake in M R Maniveni Foods Ltd to 13.85% through open market purchases. The acquisition of 408,000 equity shares was completed as on August 27, 2026.

The move brings the financial services firm’s total holding to 2,710,000 shares. Prior to this transaction, CapitalSquare held 2,302,000 shares, representing an 11.76% stake in the food processing company listed on BSE Limited.

Acquisition Details

The share acquisition was executed through open market operations. No warrants, convertible securities, or voting rights other than those carried by equity shares were involved in the transaction. There were no encumbrances, pledges, or liens on the shares held by the acquirer before or after the acquisition.

Regulatory Disclosure

CapitalSquare filed the disclosure under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing was submitted to the Listing Department of BSE Limited by Sunil Kumar Satpal Manocha, Director and Compliance Officer of CapitalSquare Financial Services Pvt Ltd.

M R Maniveni Foods Ltd’s total equity share capital remains unchanged at ₹19,57,24,000, divided into 19,572,400 equity shares of ₹10 each. The total diluted share capital also remains at this figure, indicating no outstanding convertible instruments affecting the voting capital structure.