Source Natural Foods has scheduled its 31st Annual General Meeting (AGM) for September 30, 2026, coinciding with the release of its annual report for the financial year ended March 31, 2026. The company reported a significant expansion in its top line, driven by growth in both its core Ayurveda division and its expanding green energy vertical.

The meeting will be held via video conference and other audio-visual means. Shareholders holding shares as of the cut-off date, September 23, 2026, are eligible to vote. Remote e-voting will be open from September 27 to September 29, 2026.

Financial Performance

For the fiscal year 2026, total revenue rose 57% year-on-year to ₹7,043.25 lakh, up from ₹4,500.14 lakh in the previous year. This growth was underpinned by strong performance across segments, with Ayurveda revenue reaching ₹5,553.22 lakh and Energy segment revenue hitting ₹2,179.18 lakh.

Profit before tax increased 37% to ₹492.30 lakh from ₹358.32 lakh in FY25. Net profit for the period climbed 17% to ₹339.94 lakh, compared to ₹290.40 lakh previously. Earnings per share (basic and diluted) stood at ₹5.28, an increase from ₹4.51 in the prior year.

What the Numbers Show

A notable divergence exists between the company's reported profitability and its cash flow generation. While net profit rose 17%, cash from operations turned negative at ₹(248.52) lakh, down from a marginal positive ₹6.55 lakh in FY25. This contraction is primarily attributed to a ₹562.90 lakh increase in trade receivables and a ₹238.06 lakh rise in inventory levels. Despite the higher bottom line, the working capital cycle tightened significantly, consuming cash that would otherwise support organic growth or debt reduction.

Corporate Actions and Governance

The Board proposes the re-appointment of Executive Director Mr. Tejagna K Katpitia and Non-Executive Director Mr. Sturle Harald Pedersen, who retire by rotation. Additionally, shareholders will vote on the appointment of M/s. K. B. Nambiar & Associates as statutory auditors for a five-year term from FY27 to FY31, replacing M/s. Srinaga & Giridharan.

The AGM agenda also includes the ratification of remuneration for the cost auditor, M/s. Chiranjeevulu Jeelaga & Co., at ₹60,000 plus out-of-pocket expenses. Furthermore, the company seeks omnibus approval for material related-party transactions with its holding company, Sriveda Sattva Private Limited, for an aggregate amount up to ₹90 crore. These transactions include the sale and purchase of goods, royalty payments for trademark usage, and leasing of premises.

Strategic Outlook

Management highlighted the diversification into green energy as a key growth driver. The company aims to reach a solar installation portfolio of 1 GW through large-scale ground-mounted projects and rooftop installations under the Pradhan Mantri Surya Ghar Muft Bijli Yojana. New initiatives also include wastewater treatment plants and EV charging stations under the Hyenr brand.

Source Natural Foods appointed Executive Director Tejagna K. Katpitia as Chief Financial Officer effective September 3, 2026. The company also scheduled its annual general meeting for September 30, 2026.

The Board of Directors approved the appointment based on recommendations from the Nomination and Remuneration Committee and the Audit Committee. Mr. Katpitia will continue to serve as Executive Director while discharging CFO responsibilities as a Key Managerial Personnel.

Leadership Profile

Mr. Katpitia brings over 25 years of experience in financial management and business operations. He has served as a Whole Time Director since September 2017. During his tenure, the company’s revenue grew from approximately ₹19.8 crore in FY23 to ₹45 crore in FY25, representing over 127% growth in three years.

His expertise includes financial planning, P&L management, working capital optimization, and regulatory compliance under the Companies Act 2013 and SEBI LODR 2015. He also possesses specific knowledge of FMCG and natural products sector compliance, including GMP, AYUSH, and USDA Organic standards.

Auditor Appointment

The board approved M/s. K B Nambiar & Associates as statutory auditors for five consecutive years, from FY27 to FY31. This replaces retiring auditors M/s. Srinaga & Giridharan, whose term expires at the ensuing AGM. The appointment is subject to member approval.

AGM Details

The 31st Annual General Meeting will be held via video conference on September 30, 2026, at 11:30 am. The e-voting period runs from September 27, 2026, at 9:00 am to September 29, 2026, at 5:00 pm. CS Kirana K R is appointed as scrutinizer.

The Register of Members and Share Transfer Books will remain closed from September 24, 2026, to September 30, 2026, for determining eligibility to attend the AGM.