MRP Agro Limited appointed M/s. Mittal V. Kothari & Associates as its new secretarial auditor for a one-year term. The board made the decision during a meeting held on September 5, 2026, following the resignation of its previous auditor.

The company also approved the draft notice for its 8th Annual General Meeting (AGM), scheduled for Tuesday, September 29, 2026, at 11:00 am. The meeting will take place at the company’s registered office in Tikamgarh, Madhya Pradesh.

Auditor Change Details

The board noted the resignation of M/s. MSV & Associates, Practicing Company Secretaries, Jaipur. The firm cited existing professional commitments and capacity constraints as reasons for stepping down with immediate effect from September 5, 2026.

Based on the Audit Committee’s recommendation, the board approved the appointment of M/s. Mittal V. Kothari & Associates (COP No. 17202) to replace them. The new auditor holds Peer Review Certificate No. 4577/2023.

AGM Logistics

The board approved the schedule for remote e-voting and appointed M/s. SCS and Co. LLP as the scrutinizer for the e-voting process. National Securities Depository Limited (NSDL) was appointed as the e-voting agency.

The annual report for the financial year ended March 31, 2026, including the Directors’ Report, was also approved for dispatch to shareholders.

MRP Agro Limited reported a consolidated net profit of ₹4.10 crore for the financial year ended March 31, 2026, marking a turnaround from the previous year. The company recorded total revenue of ₹60.57 crore for FY26, driven by its manufacturing and trading of agro commodities segment. The Board of Directors approved the audited standalone and consolidated financial results at a meeting held on May 29, 2026. In a business update dated May 31, 2026, the company outlined strategic shifts and capital investments aimed at driving growth in the upcoming financial year.

The statutory auditors, M/s. A Y & Company, issued an audit report with an unmodified opinion on the financial results. The consolidated results include the financial performance of subsidiary PRM Tradelink Private Limited, which was acquired on June 10, 2025. For the quarter ended March 31, 2026, the company posted a profit after tax of ₹0.67 crore on a total revenue of ₹14.10 crore.

Operational Performance and Strategic Shifts

During FY26, the company faced challenges due to the highest-ever monsoon season rainfall in June 2025 in its procurement catchment area. This resulted in a substantial drop in the yield of summer Urad crops and a subsequent decline in market prices compared to the previous financial year, leading to a reduction in overall business turnover. To mitigate this, the company adopted a new sales approach for its manufactured products, shifting from direct sales to traders to supplying products through city-wise plant dealers. This shift positively impacted sales and brand development.

Capital Allocation and New Initiatives

MRP Agro utilized the proceeds from the preferential issue of warrants amounting to ₹5.09 crore entirely to meet working capital requirements. The company confirmed there was no deviation in the utilization of these funds as of March 31, 2026. The funds were raised through the conversion of warrants into fully paid-up equity shares on March 02, 2026.

Alongside its trading activities, the company undertook an additional investment of over ₹20 crore to establish a flour mill processing unit. By March 2026, the company had completed advance payments for machinery, placed orders, and substantially completed the related civil construction work. The unit proposes to manufacture wheat-based products, including maida, atta, suji, and bran.

Financial Performance

The company's operational metrics showed significant activity during the year. The cost of materials consumed stood at ₹41.01 crore, while employee benefit expenses were ₹0.58 crore. Finance costs for the year amounted to ₹0.07 crore. The earnings per share (EPS) for the year was recorded at ₹3.67 on a basic and diluted basis.

The following table outlines the key financial figures for the consolidated results for the year ended March 31, 2026:

Business Outlook

The audited consolidated statement of assets and liabilities as of March 31, 2026, showed total assets of ₹462.78 crore. Shareholders' funds stood at ₹411.74 crore, comprising share capital of ₹115 crore and reserves and surplus of ₹296.74 crore. The company reported no investor complaints were pending as of the end of the financial year.

During the first two months of FY27, the company commenced operations of its processed pulse mill at the Jabalpur line and local level. MRP Agro remains confident about FY27 and expects improved profitability from its new product portfolio, including wheat-based products, pulses, animal feed, and grain trading activities. The company looks forward to leveraging these business segments to achieve stronger growth and enhanced returns in the coming year.