Spice Islands Industries Limited will seek shareholder approval to sub-divide its equity shares and declare a final dividend at its 38th Annual General Meeting scheduled for August 07, 2026. The meeting, to be held via video conferencing, also includes resolutions to approve material related party transactions and re-designate a senior director as Managing Director and Vice Chairman.

The Board has recommended the sub-division of every one equity share with a face value of ₹10 into five equity shares of ₹2 each. This move aims to enhance liquidity and make shares more affordable for retail investors. Consequently, the authorized share capital will be revised to 7,50,00,000 equity shares of ₹2 each, maintaining the total capital at ₹15,00,00,000. The issued and subscribed paid-up share capital will adjust to 3,11,66,620 shares of ₹2 each.

Shareholders will also consider the declaration of a final dividend of ₹0.60 per share for the financial year ended March 31, 2026. The Board had previously declared two interim dividends of ₹0.50 each during the year. The company has fixed Friday, July 31, 2026, as the record date to determine member entitlement for the dividend.

A special resolution proposes the re-designation of Mr. Sandeep Jamnadas Merchant from Whole-time Director to Managing Director and Vice Chairman effective July 03, 2026, for the remainder of his term ending November 07, 2028. The Board has also appointed Dr. Huzaifa Habil Khorakiwala and Mr. Nikhil Saran Mathur as Non-Executive Directors.

The company seeks approval for material related party transactions with entities involving key management personnel. Transactions with entities linked to Mr. Faraaz Irfan Chapra, including Chapra Capital Ventures Private Limited, are capped at ₹350 crore. Approvals are also sought for transactions with entities linked to Mr. Sandeep Jamnadas Merchant, such as Krishna Global Industries, up to ₹150 crore, and with Dhanik Food & Beverages Private Limited, linked to CEO Mr. Dhaval Girish Chheda, up to ₹20 crore.

Furthermore, the Board proposes forming a joint venture with The Peace Mission Private Limited to manufacture and market functional wellness beverages. Spice Islands Industries will hold a 60% stake in the venture, with an aggregate investment not exceeding ₹200 crore during FY 2026-27. The remote e-voting period will commence on August 04, 2026, and end on August 06, 2026.

Share Capital Structure

Related Party Transactions

Spice Islands Industries Limited reported a net profit of Rs. 566.24 lakh for the financial year ended March 31, 2026, a substantial increase from Rs. 47.73 lakh in the previous year. Revenue from operations surged to Rs. 1,789.10 lakh, compared to Rs. 77.87 lakh in FY25, driven by the company's expansion across its Food & Beverages, Hospitality, and Electric Vehicle business verticals. The Board of Directors has recommended a final dividend of Re. 0.60 per equity share for the financial year ended March 31, 2026, subject to shareholder approval.

Financial Performance

The company’s total income for FY26 stood at Rs. 2,118.32 lakh, up from Rs. 297.87 lakh in the previous year. Profit Before Tax (PBT) increased to Rs. 564.22 lakh from Rs. 112.19 lakh in FY25. The improved financial performance reflects successful execution of the company's diversification strategy and enhanced operational efficiencies. Earnings Per Share (EPS) rose to Rs. 11.45 from Rs. 1.11 in the previous year.

Business Operations

During the year under review, the Food & Beverages segment emerged as a major contributor with revenue of Rs. 854.27 lakh, while the Hospitality business recorded revenue of Rs. 811.05 lakh. The Electric Vehicle rental business generated revenue of Rs. 123.78 lakh. The company also expanded its Main Objects Clause to include the Edible Oil business, providing flexibility to explore opportunities in that sector.

Corporate Actions

The Board has proposed the sub-division of every 1 (One) equity share of face value Rs. 10/- each into 5 (Five) equity shares of face value Rs. 2/- each to enhance liquidity. Additionally, the Board has approved the re-designation of Mr. Sandeep Jamnadas Merchant from Whole-time Director to Managing Director and Vice Chairman. The company has also sought shareholder approval for material related party transactions and the formation of a joint venture with The Peace Mission Private Limited for functional wellness beverages.