Mishtann Foods Limited has announced the resignation of its Company Secretary and Compliance Officer, marking a significant change in the company's key management personnel. The development was communicated to stock exchanges in compliance with regulatory requirements on April 03, 2026.

Key Personnel Change

CS Jaishree Maheshwari has tendered her resignation from the position of Company Secretary and Compliance Officer through a formal resignation letter dated April 03, 2026. The resignation was attributed to unavoidable personal reasons, as stated in the official communication to the exchanges.

Management Response

The resignation has been formally accepted by Managing Director Hiteshkumar G. Patel on April 03, 2026. CS Jaishree Maheshwari will be relieved from her duties with effect from the close of business hours on the same date. The company's Board of Directors has expressed appreciation for the valuable services rendered by CS Jaishree Maheshwari during her tenure with the organization.

Regulatory Compliance

The announcement was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided all required details as mandated under SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015.

Next Steps

The resignation will be formally placed before the board of directors in their upcoming meeting for official acknowledgment. The company has fulfilled its disclosure obligations by notifying both BSE Limited and Metropolitan Stock Exchange of India Limited about this key management personnel change. Mishtann Foods Limited continues to maintain transparency in its corporate governance practices through timely regulatory disclosures.

Mishtann Foods Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, presenting a mixed performance amid ongoing regulatory challenges. The Board of Directors approved these results at their meeting held on February 13, 2026.

Consolidated Financial Performance

The company's consolidated operations demonstrated substantial revenue generation during Q3FY26, though with notable year-over-year variations across different metrics.

For the nine-month period ended December 31, 2025, consolidated revenue reached ₹1,10,951.70 lakhs compared to ₹1,05,972.48 lakhs in the corresponding period of the previous year, representing a growth of 4.70%. Net profit for the nine-month period stood at ₹25,963.52 lakhs versus ₹25,493.80 lakhs in the previous year.

Standalone Operations

The standalone financial results showed more modest performance levels compared to the consolidated figures, reflecting the contribution of the parent company operations.

Auditor Qualifications and Regulatory Issues

The financial results received qualified opinions from statutory auditors H Thakkar & Co. LLP, highlighting several significant concerns that continue to impact the company's operations.

SEBI Allegations: The company faces an Interim Order cum Show Cause Notice dated December 5, 2024, from SEBI alleging that substantial portions of sales and purchase transactions from FY2017-18 to FY2023-24 were fictitious. SEBI has also alleged misutilization of rights issue proceeds amounting to ₹4,990.00 lakhs.

Trade Receivables Concerns: Outstanding trade receivables of ₹56,654.71 lakhs constitute approximately 97% of total assets as of September 30, 2024. The company has not made provisions for Expected Credit Loss as required under Ind AS 109, and auditors noted no payments to suppliers or collections from customers during the review period.

Pending Legal and Tax Matters

The company faces multiple regulatory and tax challenges that represent contingent liabilities:

Subsidiary Operations

The consolidated results include contributions from Grow and Grub Nutrients FZ-LLC, a wholly-owned subsidiary incorporated in the UAE on April 19, 2023. The subsidiary contributed significantly to the consolidated performance with total revenues of ₹26,492.71 lakhs and net profit of ₹8,079.59 lakhs for Q3FY26.

Management Response

The management has categorically denied all SEBI allegations and is pursuing legal remedies. Regarding compliance issues, the company plans to implement audit trail features in accounting software starting from the fourth quarter of FY2025-26. Management maintains that trade receivables remain regular with no bad debt instances recorded in the past five years, attributing extended payment cycles to market penetration strategies for salt products.