Halder Venture has successfully concluded a significant corporate action, with shareholders giving their approval to two key resolutions through a postal ballot conducted via remote e-voting. The voting process, which ended on August 26 at 5:00 PM IST, saw the passage of both a special resolution for the alteration of the company's Articles of Association and an ordinary resolution for the issuance of bonus shares.

Voting Results

The scrutiny of the voting results was carried out by Mr. Manoj Kumar Shaw, a Practicing Company Secretary appointed as the Scrutinizer for the postal ballot process. According to the Scrutinizer's report, both resolutions received the requisite majority, signaling strong shareholder support for the company's proposed actions.

Key Resolutions Passed

1. Alteration of Articles of Association

This special resolution allows the company to modify its Articles of Association, potentially updating its internal regulations to align with current business needs or regulatory requirements.

2. Issuance of Bonus Shares

The ordinary resolution approving the issuance of bonus shares is a significant move that could benefit existing shareholders by increasing their shareholding without additional cost.

Transparency and Compliance

In line with regulatory requirements, Halder Venture has made the voting results and the Scrutinizer's report available on both the company's website ( www.halderventure.in ) and the website of National Securities Depository Limited (nsdl.co.in). This transparency ensures that all stakeholders have access to the information regarding the outcome of the postal ballot.

Management Commentary

Ayanti Sen, Company Secretary and Compliance Officer of Halder Venture, confirmed the successful completion of the postal ballot process in a communication to the Bombay Stock Exchange. The company's proactive approach in seeking shareholder approval for these resolutions demonstrates its commitment to corporate governance and shareholder engagement.

The approval of these resolutions, particularly the bonus share issuance, may be viewed positively by the market as it potentially indicates the company's confidence in its financial position and future prospects. Shareholders and potential investors will likely keep a close watch on further announcements regarding the implementation of these approved measures, especially the details and timeline of the bonus share issuance.

Halder Venture Limited , a prominent player in the rice and edible oil segments, has announced its financial results for the first quarter, showcasing robust performance and strategic initiatives.

Standalone Financial Highlights

Halder Venture Limited reported impressive standalone financial results for Q1:

• Revenue from operations surged to Rs. 70,671.66 lakhs, marking a substantial increase from Rs. 782.77 lakhs in the corresponding quarter of the previous year.
• Net profit for the quarter stood at Rs. 489.04 lakhs, demonstrating significant growth compared to the same period last year.
• The company's performance was driven by strong results in both its rice and edible oil segments.

Consolidated Performance

On a consolidated basis, the company's results reflected the strength of its diversified operations:

• Consolidated revenue from operations reached Rs. 74,698.61 lakhs.
• Net profit on a consolidated basis was reported at Rs. 285.87 lakhs.

Segment-wise Performance

Halder Venture Limited operates in two primary segments:

1. Rice Segment: This includes parboiled rice, puffed rice, rice bran, rice husk, rice husk ash, broken rice, and rejection rice.
2. Edible Oil Segment: Comprising crude rice bran oil, de-oiled rice bran, refined rice bran oil, various refined oils, and related products.

Both segments contributed significantly to the company's overall performance:

Strategic Developments

Bonus Share Issue

The Board of Directors has approved a bonus share issue in the ratio of 2:1, subject to shareholder approval. This means shareholders will receive two new bonus equity shares for every one existing equity share held.

Acquisition of Haldia Manufacturing Unit

The company has acquired the Haldia Manufacturing Unit of K.S. Oil Limited for Rs. 6,391.85 lakhs, as per an order from the National Company Law Appellant Tribunal. This strategic move is expected to enhance Halder Venture's manufacturing capabilities.

Management Changes

Mr. Keshab Kumar Halder has been recommended for reappointment as the Managing Director for a term of 5 years, effective from April 1, 2025, subject to shareholder approval.

Internal Auditor Reappointment

Gautam K Dutta and Associates have been reappointed as the Internal Auditor for the Financial Year 2025-2026.

Outlook

The strong performance in Q1, coupled with strategic initiatives like the acquisition of the Haldia Manufacturing Unit and the proposed bonus share issue, positions Halder Venture Limited for continued growth. The company's focus on both the rice and edible oil segments provides a balanced approach to market opportunities.

Investors and stakeholders will be keeping a close watch on the upcoming shareholder approvals for the bonus issue and the reappointment of the Managing Director, as these decisions will play a crucial role in shaping the company's future trajectory.

As Halder Venture Limited continues to expand its operations and strengthen its market position, the company appears well-positioned to capitalize on the growing demand in the rice and edible oil sectors.