Mukta Agriculture Limited reported a net profit of ₹85.01 lakh for the first quarter ended June 30, 2026, reversing a net loss of ₹107.99 lakh in Q1FY25. The Board of Directors approved the unaudited standalone financial results on July 28, 2026, following a review by the Audit Committee and a limited review by statutory auditors Ashok Shetty & Co.

The company recorded zero revenue from operations for the quarter. Total income stood at ₹16.42 lakh, driven entirely by other income, down from ₹35.65 lakh in Q4FY26. Total expenses were ₹79.23 lakh, comprising employee benefit expenses of ₹56.01 lakh and other expenses of ₹23.22 lakh. No tax expense was reported for the quarter.

Financial Performance

What the Numbers Show

The turnaround to profitability 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—from ₹71.41 lakh in Q4FY26 to ₹79.23 lakh in Q1FY26—was offset by the prior year’s loss position. The company’s paid-up equity capital remains unchanged at ₹2,168.18 lakh.

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).

Mukta Agriculture Limited has informed the Bombay Stock Exchange that Manaklal Agrawal (DIN: 10214780) will cease to serve as an Independent Director effective July 27, 2026. The cessation occurs solely due to the completion of his term of office and is not attributable to any other reason, according to a filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This routine transition ensures continuity in governance without disruption to ongoing operations.

The company disclosed the change pursuant to SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. Mr. Agrawal’s exit triggers a reconstitution of the Board Committees, approved by the Board of Directors at its meeting held on May 15, 2026. These revised compositions become effective from the close of business hours on July 27, 2026.

Committee Reconstitution Details

Upon Mr. Agrawal’s departure, Himanshu Agarwal, an Independent Director, assumes the chairmanship of the Audit Committee and the Stakeholders Relationship Committee. Ms. Nirali Thingalaya, also an Independent Director, takes over as Chairperson of the Nomination and Compensation Committee. Mr. Krishan Khadaria continues as a member across all three statutory committees.

Governance Impact

The transition maintains the required independence and expertise within the statutory committees. Himanshu Agarwal’s assumption of dual chair roles in the Audit and Stakeholders Relationship Committees centralizes oversight responsibilities within the independent directorate. Meanwhile, Nirali Thingalaya’s leadership of the Nomination and Compensation Committee ensures balanced representation in executive remuneration and appointment decisions. The company expressed gratitude for Mr. Agrawal’s contributions during his tenure, noting no adverse factors associated with his exit.