Milkfood Limited has scheduled an Extra-Ordinary General Meeting (EGM) on July 27, 2026, to seek shareholder approval for the preferential allotment of 22,00,000 convertible warrants to the Non-Promoter/Public Category. The company aims to raise ₹6.60 crore through this issuance, which will be used to meet working capital requirements. The warrants are priced at ₹30.00 each, comprising a face value of ₹5 and a premium of ₹25.00.

The Board of Directors approved the proposal in its meeting held on June 30, 2026. The warrants will be allotted to Mr. Sudhir Avasthi, Managing Director, and Mr. Deepankar Barat, President, with each individual eligible for 11,00,000 warrants. The conversion option can be exercised within 18 months from the date of allotment. The "Relevant Date" for determining the issue price is June 25, 2026, which is 30 days prior to the EGM.

The issuance complies with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and the Companies Act, 2013. The price was determined based on a valuation report by independent valuer CA Kapil Dev Dhir, as the shares are infrequently traded. The company has fixed July 20, 2026, as the record date to determine shareholder eligibility for voting.

Pursuant to Section 91 of the Companies Act, 2013 and Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Register of Members and Share Transfer Books will remain closed from July 20, 2026 to July 27, 2026 (both days inclusive) for the purpose of the EGM. The meeting is scheduled to be held at 9.00 a.m. at the registered office of the company at Bahadurgarh, Distt. Patiala, Punjab.

Ms. Kamlesh Gupta, Practicing Company Secretary, has been appointed as the Scrutinizer for the voting process. Remote e-voting will be available from July 24, 2026, at 9.00 a.m. to July 26, 2026, at 5.00 p.m. Upon full conversion, the shareholding of Mr. Sudhir Avasthi will increase to 8.01% and Mr. Deepankar Barat to 6.47% on a fully diluted basis.

Milkfood Limited has reported its audited standalone financial results for the financial year ended March 31, 2026. The Board of Directors approved the results during a meeting held on May 22, 2026. The statutory auditors, Madan & Associates, issued a modified opinion on the financial statements, citing specific accounting adjustments related to land revaluation, asset useful life, and share-based payments.

For the full year, the company recorded a net profit of ₹4,429 lakh, a substantial increase compared to ₹452 lakh in the previous year. Revenue from operations for FY26 stood at ₹41,293 lakh, down from ₹44,776 lakh in FY25. Total income for the year was ₹48,459 lakh, while total expenses were reported at ₹42,750 lakh.

Financial Performance

The fourth quarter of FY26 saw the company report a net profit of ₹5,141 lakh, compared to ₹242 lakh in the corresponding quarter of the previous year. Revenue from operations for the quarter ended March 31, 2026, was ₹17,893 lakh, up from ₹15,803 lakh in the same period last year. Other income for the quarter was significantly higher at ₹6,600 lakh, driven by exceptional items including profit on the sale of property, plant, and equipment.

The basic earnings per share (EPS) for the year increased to ₹18.17 from ₹1.86 in the previous year. On a diluted basis, EPS stood at ₹17.30 for FY26, compared to ₹1.86 in FY25.

Key Financial Metrics

The following table summarizes the financial performance for the quarter and year ended March 31, 2026:

Audit Qualifications

The auditors issued a modified opinion drawing attention to Note No. 4 regarding the revaluation of land amounting to ₹3,197 lakh, the retrospective re-evaluation of the useful economic life of vehicles resulting in an overstatement of profit before tax by ₹251 lakh, and share-based expenses of ₹318 lakh. The company stated that these adjustments were made in compliance with Indian Accounting Standards (Ind AS).