Tasty Dairy Specialities Limited has submitted its audited standalone financial results for the quarter and year ended March 31, 2026, to the Bombay Stock Exchange. The results were considered and approved by Resolution Professional Mr. Anish Agarwal on May 12, 2026. In compliance with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published an extract of its audited standalone financial results in two newspapers — Financial Express (All India Edition) and Lokbharti (Kanpur Edition) — on May 14, 2026. The company is currently undergoing the Corporate Insolvency Resolution Process (CIRP) pursuant to an order dated October 07, 2025, passed by the Hon'ble National Company Law Tribunal (NCLT), Allahabad Bench, on an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Punjab National Bank. The financial statements have been prepared on a non-going concern basis, reflecting the suspension of manufacturing operations and full erosion of net worth.

Financial Performance

The company reported a sharp contraction in operating activity for the fiscal year. Revenue from operations for FY26 stood at ₹332.03 lakhs, compared to ₹644.27 lakhs in the previous year. For the quarter ended March 31, 2026, no revenue from operations was recorded. The company posted a net loss of ₹496.82 lakhs for the full year, compared to a loss of ₹993.15 lakhs in FY25. Total expenses for FY26 were reduced to ₹889.11 lakhs, driven by lower finance costs and reduced material consumption. The following table summarises the key financial metrics across periods:

Balance Sheet Position

The standalone balance sheet as of March 31, 2026, reflects the company's stressed financial position. Total assets stood at ₹5,805.10 lakhs, while equity turned deeply negative at ₹3,469.68 lakhs. Cash and cash equivalents increased significantly to ₹255.34 lakhs, primarily due to a Fixed Deposit of ₹2.30 crore created from Earnest Money Deposits received from prospective resolution applicants. Non-current borrowings rose to ₹3,973.67 lakhs from ₹2,790.25 lakhs in the prior year, while current borrowings stood at ₹962.99 lakhs.

Regulation 47 Compliance

Pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company informed the Bombay Stock Exchange on May 14, 2026, of the newspaper publication of its financial results. The disclosure was made by Resolution Professional Anish Agarwal (IBBI Reg. No. IBBI/IPA-001/IP-P-01497/2018-2019/12256). The published extract confirms total income of ₹392.29 lakhs and a net loss of ₹496.82 lakhs for FY26.

Auditor's Qualified Opinion

Statutory auditors Neha B Agarwal & Co. issued a qualified opinion on the standalone financial results. The qualifications include unresolved litigations where documentation was not fully available, non-recognition of asset sales made by the lending bank under the SARFAESI Act, and the absence of impairment testing for tangible assets pending CIRP completion. Additionally, certain requirements of Indian Accounting Standards could not be fully complied with due to operational constraints. The audit qualification is repetitive, occurring for the second consecutive year. The auditors noted that the consequential financial impact of these matters is currently not ascertainable.

CIRP Status and Related Party Transactions

The Resolution Professional has received Resolution Plans from 11 prospective applicants, which are under evaluation by the Committee of Creditors. Loans as at the reporting date amount to ₹49.36 crore, comprising secured bank borrowings from Punjab National Bank as per the books of account. Related party transactions during the half year ended March 31, 2026, included co-packing income of ₹22.65 lakhs and rental income of ₹27.80 lakhs from Agrim Foods LLP. An Earnest Money Deposit of ₹40.00 lakhs was received from Atul Mehra during the period, bringing the closing balance to ₹50.00 lakhs.

Impact of Audit Qualifications

The Statement on Impact of Audit Qualifications filed under Regulation 33 of SEBI (LODR) Regulations, 2015, confirms that the audited figures remain unchanged before and after adjusting for qualifications, as the consequential impact is not ascertainable. Total income stands at ₹392.29 lakhs, total expenditure at ₹889.11 lakhs, net loss at ₹496.82 lakhs, and net worth at negative ₹3,469.68 lakhs. Management has stated that necessary adjustments, if any, will be accounted for upon completion of the CIRP and approval of the Resolution Plan by the Hon'ble NCLT.

Tasty Dairy Specialties Limited has announced an extension of the deadline for submission of resolution plans under its ongoing Corporate Insolvency Resolution Process. The Committee of Creditors has approved the extension following requests from Prospective Resolution Applicants.

Resolution Plan Timeline Extended

The Committee of Creditors has approved extending the deadline for resolution plan submissions by seven days. The decision comes in response to requests received from multiple Prospective Resolution Applicants who sought additional time to finalize their proposals.

Corporate Insolvency Process Status

Tasty Dairy Specialties Limited continues to operate under the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code 2016. The company's affairs, business and assets are being managed by Resolution Professional Anish Agarwal, who was appointed through an order dated October 7, 2025.

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information has been disclosed to the Bombay Stock Exchange and made available on the company's corporate website at www.tastydary.com .

The extension provides Prospective Resolution Applicants with additional time to prepare comprehensive resolution plans for the company's revival under the insolvency resolution framework.