NHC Foods Limited has announced several key updates, including a revision in its quarterly financial results, new auditor appointments, and confirmation of its rights issue fund utilization.

Revised Financial Results

The company has submitted revised unaudited financial results for the quarter ended June, correcting a typographical error in its Earnings Per Share (EPS) figures. The Basic and Diluted EPS for the quarter have been revised from Rs. 0.11 to Rs. 0.03. NHC Foods clarified that this was an inadvertent error, and no other figures in the previously published results have changed.

Financial Performance

For the quarter ended June 30, NHC Foods reported:

The company's revenue from operations stood at Rs. 11,050.90 lakhs, with a total income of Rs. 11,059.56 lakhs for the quarter. The profit before tax was Rs. 225.96 lakhs, resulting in a profit after tax of Rs. 166.60 lakhs.

Corporate Governance Updates

The Board of Directors has approved several key appointments:

1. Re-appointment of DMS & Company, Chartered Accountants (FRN: 001169C) as Internal Auditors for the Financial Year 2025-2026.
2. Recommendation for the appointment of DM & Associates Company Secretaries LLP as Secretarial Auditors for five consecutive years from FY 2025-26 to FY 2029-30, subject to shareholder approval at the upcoming Annual General Meeting.

Rights Issue Fund Utilization

NHC Foods confirmed that there has been no deviation or variation in the use of proceeds from its Rights Issue, which raised Rs. 47.42 crores in December 2024. The funds have been utilized as follows:

The company's Audit Committee has reviewed and confirmed the utilization of funds as per the stated objectives.

Consolidated Financial Results

On a consolidated basis, NHC Foods reported a total income of Rs. 11,059.56 lakhs and a profit after tax of Rs. 166.60 lakhs for the quarter ended June 30. The consolidated financial results include the performance of its foreign subsidiary, Intra Metal Trading LLC FZ, which became a subsidiary of NHC Foods Limited on April 24, 2024.

NHC Foods Limited continues to operate in the "Food processing Business" segment, as per Ind AS 108 "Operating Segment". The company's management remains focused on maintaining transparency and compliance with regulatory requirements while pursuing growth opportunities in the food processing sector.

NHC Foods Limited has announced the cancellation of its previously approved issuance of Optionally Convertible Debentures (OCDs) following a strategic review of the company's capital-raising plans. The decision, made during a board meeting on August 5, 2025, marks a significant shift in the company's approach to funding its operations and growth initiatives.

Strategic Realignment of Capital Raising

The board of NHC Foods has decided to explore alternative financing options that are better aligned with the company's current business objectives and prevailing market conditions. This move comes after a thorough reassessment of the company's funding needs and optimal capital structure.

Background of the OCD Issuance

The now-cancelled OCD issuance was originally approved by shareholders at an Extraordinary General Meeting held on March 12, 2025. However, the company had not proceeded with the allotment of OCDs, and the in-principle approval from stock exchanges was yet to be obtained.

Reasons for Cancellation

Mr. Satyam Joshi, Managing Director of NHC Foods, stated in the company's filing to the BSE, "This decision has been taken as part of the Company's broader effort to pursue capital instruments and funding options that are more suited to its current business objectives and long-term strategic roadmap."

Future Funding Strategy

NHC Foods has indicated that it will now focus on exploring alternative financing opportunities that are more closely aligned with its operational requirements and growth priorities. The company aims to identify funding options that better support its evolving business strategy and market position.

Regulatory Compliance

The cancellation of the OCD issuance was disclosed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board meeting where this decision was made commenced at 4:00 p.m. and concluded at 4:45 p.m. on August 5, 2025.

As NHC Foods Limited pivots its capital-raising strategy, investors and market observers will be keenly watching for announcements regarding the company's new funding plans and their potential impact on its growth trajectory.