Spice Islands Industries Limited has entered into a strategic Joint Venture Agreement with The Peace Mission Private Limited to manufacture and market a functional wellness beverage under the proprietary brand name "PEACE ROGERS". The Board of Directors approved the execution of the agreement at its meeting held on June 05, 2026. This collaboration marks the company's expansion into the high-growth functional wellness beverage segment.

Joint Venture Structure

The partnership operates on a 60:40 functional cost and profit-sharing matrix. Spice Islands Industries Limited will hold a 60% financial stake and structural control, while The Peace Mission Private Limited will hold the remaining 40% stake. The venture will be managed by a Joint Management Committee (JMC) comprising six nominated representatives, with three members appointed by each entity. Routine operational matters will require a simple majority vote, whereas fundamental actions such as altering profit-sharing ratios or expanding into international territories will require unanimous written approval.

Product and Formulation

Subject to regulatory approvals and technical feasibility, the initial product line will feature a standard 210 ml per unit fortified functional wellness beverage. The formulation is designed to support hydration, nutrition, and health wellness, featuring key ingredients including Vitamin C, Vitamin D3, Vitamin B12, Spirulina, and Oral Rehydration Salts (ORS). The collaboration aims to handle the development, manufacturing, branding, marketing, distribution, and commercialization of the product nationwide and internationally.

Strategic Partnership Details

The Peace Mission Private Limited is represented by its director, Dr. Huzafa Habil Khorakiwala, who is from the promoter family of Wockhardt Limited. The agreement was executed at the registered office of The Peace Mission Private Limited located at Wockhardt Towers, Bandra Kurla Complex, Mumbai. The companies confirmed that the transaction is a commercial strategic collaboration between two independent entities, structured strictly on an arm's-length basis with no existing promoter ties or conflicts of interest.

The Board Meeting commenced at 04.00 P.M. and concluded at 06.45 P.M. on June 05, 2026.

Spice Islands Industries reported a net profit of ₹566.24 lakh for the financial year ended March 31, 2026, a substantial increase from ₹47.73 lakh in the previous year. Revenue from operations surged to ₹1,789.10 lakh, compared to ₹77.87 lakh in FY25, driven primarily by growth in the food and beverages and hospitality business segments. The company’s total comprehensive income for the year stood at ₹566.62 lakh.

Financial Performance

The company’s profit before tax for FY26 rose to ₹564.22 lakh from ₹112.19 lakh in the prior year. For the quarter ended March 31, 2026, the net profit was ₹309.04 lakh, with revenue from operations reaching ₹1,090.94 lakh. The Statutory Auditors, Giriraj Bang & Company, issued an unmodified opinion on the audited financial results.

Segment Results

Spice Islands Industries operates across three segments: Renting/Hire of Electric Vehicle (EV), Food and Beverages, and Hospitality business. The Food and Beverages segment led revenue generation with ₹854.27 lakh for the year, while the Hospitality business contributed ₹811.05 lakh. The Renting/Hire of EV segment reported revenue of ₹123.78 lakh.

Dividend and Corporate Actions

The Board of Directors has recommended a final dividend of ₹0.60 per equity share for FY26, subject to the approval of shareholders at the ensuing Annual General Meeting. The Board has fixed July 31, 2026, as the record date to determine shareholder entitlement. Additionally, the company had declared an interim dividend of ₹0.50 per share in November 2025 and February 2026.

Capital Allocation and Auditors

During the year, the company converted share warrants into equity shares, increasing the paid-up equity share capital to ₹623.33 lakh. The Board approved the reappointment of P. D. Chopda & Co., Chartered Accountants, as internal auditors for the financial year 2026-27. The cash and cash equivalents at the end of FY26 stood at ₹280.02 lakh, up from ₹27.81 lakh in the previous year.