Mukta Agriculture board approved the appointment of Mr. Nikhil Kumar Rungta as non-executive independent director for a five-year term. The decision was taken during the meeting held on August 26, 2026.

The Nomination and Remuneration Committee recommended Mr. Rungta’s appointment to shareholders. He will serve until September 28, 2031, subject to approval at the ensuing Annual General Meeting (AGM).

Director Profile and Compliance

Mr. Rungta holds a BLS LLB qualification and has over 13 years of experience in corporate laws, indirect taxes, and arbitration. He currently practices at the Bombay High Court. The company confirmed he has no inter-se relationship with existing directors or key managerial personnel. He is not debarred from holding office by SEBI or any other authority.

AGM and Governance Updates

The board fixed the date for the 15th AGM as September 29, 2026. The meeting will be conducted through Video Conferencing/Other Audio-Visual Means (VC/OAVM). Mr. Arvind Dhanraj Baid, a practicing chartered accountant, was appointed as scrutinizer for the e-voting process.

The board also adopted the Secretarial Audit Report issued by M/s. Ritika Agrawal & Associates for FY26. Additionally, it approved the Directors’ Report and related annexures for the financial year ended March 31, 2026.

Mukta Agriculture Limited reported a net profit of ₹8.50 lakh for the first quarter ended June 30, 2026, marking a significant turnaround from the net loss of ₹10.80 lakh recorded in Q1FY25. The Board of Directors approved the unaudited standalone financial results on July 28, 2026. This return to profitability is notable as it occurred despite the company recording zero revenue from operations, indicating that the positive bottom line was driven entirely by non-operating factors and cost containment rather than core business sales.

The company’s total income for the quarter stood at ₹16.42 lakh, derived exclusively from other income. This figure represents a decline from ₹35.65 lakh reported in Q4FY26. Total expenses were contained at ₹7.92 lakh, comprising employee benefit expenses of ₹5.60 lakh and other expenses of ₹2.32 lakh. No tax expense was reported for the quarter, allowing the pre-tax profit to flow directly to the bottom line. The paid-up equity capital remained unchanged at ₹2,168.18 lakh.

Financial Performance

What the Numbers Show

The shift to profitability in Q1FY27 is attributable solely to non-operating factors, as revenue from operations remained nil. While other income declined significantly quarter-on-quarter from ₹35.65 lakh to ₹16.42 lakh, the reduction in total expenses compared to the prior year’s period helped secure a positive outcome. In Q1FY25, total expenses of ₹10.80 lakh against nil income resulted in a loss of ₹10.80 lakh. In the current quarter, lower other expenses (₹2.32 lakh vs ₹5.14 lakh in Q1FY25) contributed to the improved margin, even though employee benefits remained relatively stable. The company operates within a single operating segment, so segment-wise disclosures are not applicable under IND AS 108.

Regulatory Compliance

The results were prepared in accordance with IND AS as prescribed under Section 133 of the Companies Act, 2013. The filing complies with Regulation 30 and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Ashok Raju Shetty, Partner at Ashok Shetty & Co (FRN: 117134W), expressed an unmodified review opinion, stating that nothing came to their attention to suggest material misstatement. The results are hosted on the company website and will be published in newspapers as per Regulation 47(1).