Riddhi Siddhi Gluco Biols has appointed Taral Shah as an additional non-executive independent director. The board also re-appointed M/s. Batliboi & Purohit as statutory auditors for a five-year term starting FY27.

The decisions were taken during the board meeting held on August 31, 2026. Shareholder approval at the ensuing annual general meeting is required for both appointments to become final.

Director Appointment

Taral Shah, Managing Director of Shivalik Group and Founder of Shivalik Furniture, was appointed for a first term of five consecutive years. His tenure runs from August 31, 2026, to August 30, 2031.

Shah is a civil engineer with over two decades of experience in real estate and construction. He has led Shivalik’s growth into an integrated real estate ecosystem, delivering more than 75 landmark projects across 18 million sq. ft. He also serves as Chairman of the IGBC Ahmedabad Chapter.

Auditor Re-appointment

The board approved the re-appointment of M/s. Batliboi & Purohit, Chartered Accountants, Mumbai (Firm Registration No. 101048W), as statutory auditors. This marks their second term of five consecutive financial years, covering FY27 through FY31.

The firm will hold office from the conclusion of the 35th Annual General Meeting until the conclusion of the 40th Annual General Meeting in 2031. Their core competencies include statutory audit, income tax audit, and GST.

AGM Details

The company scheduled its 35th Annual General Meeting for September 25, 2026. The cut-off date and record date for determining members eligible to vote electronically and receive the final dividend for the financial year ended March 31, 2026, is fixed at September 18, 2026.

The board also approved the Directors’ Report and Annexures for the financial year ended March 31, 2026.

Riddhi Siddhi Gluco Biols Limited reported a standalone net profit of ₹135.05 lakh for the quarter ended June 30, 2026, marking a 26% decline from the ₹183.16 lakh recorded in the same period of the previous fiscal year. Consolidated profit attributable to equity shareholders stood at ₹38.85 lakh, compared to a loss of ₹47.43 lakh in Q4FY26 but significantly lower than the ₹94.41 lakh profit in Q1FY26.

Revenue from operations for the standalone entity fell 45% year-on-year to ₹801.47 lakh, down from ₹1,454.34 lakh in Q1FY26. The consolidated revenue from continuing operations was ₹898.69 lakh, a 42% drop from ₹1,546.07 lakh in the prior year quarter.

Standalone Financial Performance

The company’s trading business, which contributes the majority of its revenue, saw sales plummet to ₹764.99 lakh from ₹1,412.26 lakh in the corresponding quarter last year. Wind energy generation revenue remained relatively stable at ₹36.47 lakh, slightly down from ₹42.09 lakh previously.

Total expenses for the standalone entity decreased to ₹894.43 lakh from ₹1,511.29 lakh in Q1FY26, largely reflecting the lower scale of trading activities. Finance costs rose to ₹61.88 lakh from ₹34.13 lakh, while employee benefits increased to ₹20.55 lakh from ₹15.91 lakh.

What the Numbers Show

A significant divergence exists between operating performance and total profitability. While segment results before interest and tax declined to ₹24.93 lakh from ₹47.89 lakh in Q1FY26, other unallocable income—primarily comprising investment returns—stood at ₹191.85 lakh. This non-operating income constituted approximately 72% of the total pre-tax profit, highlighting the company’s heavy reliance on investment gains rather than core operational cash flows during this period.

Consolidated View and Discontinued Operations

On a consolidated basis, continuing operations generated a profit after tax of ₹38.30 lakh, reversing the loss of ₹49.44 lakh seen in the preceding quarter. However, discontinued operations related to the paper division resulted in a loss of ₹8.25 lakh for the quarter, compared to a loss of ₹15.59 lakh in Q1FY26. The subsidiary Shree Rama Newsprint Limited had recognized an impairment loss of ₹278.43 lakh on these assets in FY26.

Corporate Developments

During the quarter, the company achieved the minimum public shareholding requirement following an offer for sale by Vital Connections LLP, a promoter group member. The divestment of 8,23,422 equity shares reduced promoter holding to 75.00% and increased public shareholding to 25.00%. A six-month restraint period commenced on June 24, 2026.

Additionally, the Board approved a resolution to avail financial facilities by way of borrowing from Bluecraft Agro Private Limited, a related party, for an aggregate amount not exceeding ₹200 crore. This facility is subject to shareholder approval at the ensuing annual general meeting.

The company also completed the acquisition of assets from Cargill India Private Limited’s starch division in April 2026 and acquired a 26% partnership interest in Clean Max Pluto Solar Power LLP. These additions are beginning to reflect in the current quarter’s expenses as the company seeks regulatory approvals for manufacturing activities.