Milky Mist Dairy Food Limited board approved the deletion of Part B of its Articles of Association during a meeting held on August 31, 2026. The amendment aligns the company’s governance documents with current regulatory requirements following the termination of a specific shareholders' agreement.

The Board of Directors considered and approved the alteration subject to shareholder approval through a postal ballot. The company must also secure any necessary regulatory or statutory approvals under applicable laws before the change takes effect.

Details of the Amendment

Part B of the Articles of Association was originally incorporated to capture key terms from a Shareholders' Agreement (SHA). This agreement was executed between the company and several parties, including Grand Anicut Fund 1, Mr. Sathishkumar T, Ms. Anitha S, Mr. T S Shanjay, and Ms. T S Nitin.

The source states that the SHA has now terminated and is no longer applicable. Consequently, the company proposes deleting Part B to ensure the Articles of Association reflect the current legal and governance structure without outdated provisions.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was issued in compliance with Para A of Part A of Schedule III of the same regulations.

The Board meeting commenced at 3:40 pm and concluded at 4:30 pm. S Prakash, Company Secretary and Compliance Officer, signed the disclosure. The detailed disclosure is available on the company website.

Milky Mist Dairy Food Milky Mist Dairy Food reported a tenfold surge in standalone net profit for the first quarter of FY27. The dairy processing company posted a net profit of ₹64.5 crore for the quarter ended June 30, 2026, compared to ₹0.6 crore in the same period last year.

Revenue from operations grew 44.7% year-on-year to ₹973.4 crore. This top-line expansion was supported by strong operational performance ahead of the company's recent listing on Indian stock exchanges.

Financial Performance

The consolidated results mirrored the standalone growth trajectory. Consolidated revenue reached ₹973.4 crore, up from ₹678.1 crore in Q1FY26. Consolidated net profit stood at ₹64.7 crore, significantly higher than the ₹6.5 crore recorded in the prior year period.

Profit before tax rose to ₹73.2 crore from ₹9.4 crore in the previous year. The company’s tax expense was ₹8.7 crore, reflecting the adoption of the new tax regime under Section 200 of the Income Tax Act, 2025, effective April 1, 2026.

Capital Raise and Listing

Subsequent to the quarter end, the company completed its Initial Public Offering (IPO). The fresh issue raised ₹1,428 crore at an issue price of ₹140 per share. Alongside this, promoter selling shareholders offered shares worth ₹125 crore.

Prior to the IPO, during the quarter, the company executed a private placement with Jongsong Investments Pte. Ltd. for ₹357 crore, comprising equity shares and compulsorily convertible preference shares (CCPS). These CCPS were converted into equity shares in July 2026.

What the Numbers Show

The dramatic improvement in profitability is heavily influenced by non-operational factors alongside operational growth. While revenue grew by nearly 45%, the net profit increase exceeds 10,000%. This divergence is largely attributable to significant Minimum Alternate Tax (MAT) credit utilization in the prior year comparative period, which suppressed FY26 profits, rather than an equivalent proportional jump in current operational margins. Finance costs decreased slightly to ₹23.9 crore from ₹33.6 crore YoY, aiding bottom-line improvement.