Virat Crane Industries Limited shareholders approved the adoption of standalone audited financial statements for FY26 and the reappointment of a director at the 34th Annual General Meeting (AGM) held on September 30, 2026. The meeting, conducted via video conferencing, saw strong support from the promoter group and moderate participation from public shareholders.

Voting outcomes for key resolutions

The company filed voting results with the Bombay Stock Exchange (BSE) pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The scrutinizer’s report confirmed that both ordinary resolutions passed with significant majorities.

Resolution 1 concerned the adoption of standalone audited financial statements for the year ended March 31, 2026, along with Board and Auditor reports. Resolution 2 addressed the reappointment of Gopala Krishna Murthy Javvaji as Director, replacing himself upon retirement by rotation.

Director profile and appointment details

Gopala Krishna Murthy Javvaji was reappointed as a Director under an ordinary resolution. He holds a DIN of 00930747 and was born on August 18, 1970. His previous appointment date was September 15, 2023. The company disclosed that he is a graduate in commerce with over 40 years of experience in marketing.

During FY26, he attended all 8 board meetings held during the financial year. The disclosure states that he received no remuneration (Nil) for FY26 and holds no shares in the company. He is not debarred from holding office by any SEBI order and has no relationships with other directors listed in the filing.

Scrutinizer details and meeting logistics

The AGM commenced at 11:15 am and concluded at 11:47 am IST. The record date for determining shareholder eligibility was September 23, 2026. The total number of shareholders on the record date stood at 4,579. No shareholders attended in person or through proxy; however, 93 participants joined via video conferencing, comprising two promoter group members and 91 public shareholders.

The scrutinizer appointed by the Board was CS N.V.S. Naga Raju of K. Srinivasa Rao & Naga Raju Associates. The report was issued to the company on October 2, 2026.

Detailed voting statistics

The following table summarizes the voting patterns for both resolutions:

What the numbers show

A divergence in shareholder sentiment is evident between the two resolutions. While the adoption of financial statements received near-unanimous approval from public non-institutional shareholders (99.9965% in favour), the reappointment of director Gopala Krishna Murthy Javvaji faced notable opposition. Public non-institutional shareholders cast 37,513 votes against this resolution, representing 12.96% of their total polled votes. This contrasts sharply with the promoter group, which voted unanimously in favour of both items. The overall turnout represented approximately 61.47% of the outstanding shares held by those who voted.

Virat Crane Industries Limited reported a net loss of ₹7.71 crore for FY26, a sharp reversal from the ₹4.67 crore profit recorded in FY25. The dairy company’s bottom line deteriorated despite robust top-line growth, as rising input costs and operational expenses outweighed revenue gains.

Revenue from operations expanded 27.5% year-on-year to ₹177.48 crore, up from ₹139.19 crore in the previous fiscal. However, profit before tax swung to a negative ₹7.37 crore, compared to a positive ₹6.29 crore in FY25. The Board of Directors did not recommend any dividend for the financial year, citing the need to retain profits for strengthening business operations.

Financial Performance Overview

The company attributed the decline in profitability to high raw material prices and an increase in other expenses, particularly advertisement costs. Despite facing competition from the unorganized sector, Virat Crane managed to significantly improve its revenues.

What the Numbers Show

A divergence between revenue growth and profitability highlights margin compression. While revenue grew by 27.5%, cost of materials consumed surged from ₹114.62 crore to ₹156.68 crore. This indicates that raw material inflation outpaced sales growth. Additionally, depreciation expenses more than doubled, rising from ₹0.73 crore to ₹1.83 crore, reflecting the impact of new plant commissions and asset additions. The debt-equity ratio also increased significantly from 0.30 to 0.66, signaling higher leverage as the company funded its expansion.

Operational and Strategic Updates

The company has recently commissioned a new plant, which contributed to higher depreciation and initial operational costs but is expected to support volume growth for existing products and new launches. Virat Crane continues to focus on its core segments: Ghee, Cow Ghee, Milk, Curd, and Butter Milk under brands like Durga and Kamadhenu. The company is expanding its footprint into Karnataka, Tamil Nadu, and Chhattisgarh, while exploring markets in Maharashtra and Madhya Pradesh.

Corporate social responsibility (CSR) spending stood at ₹20.66 lakh, exceeding the mandatory obligation of ₹17.50 lakh. The excess amount was spent on educational scholarships through the Crane Foundation. The company also transferred unpaid dividends of ₹5.26 lakh to the Investor Education and Protection Fund (IEPF) during the year.