Ovobel Foods Limited , a prominent player in the food industry, held its 33rd Annual General Meeting (AGM) on September 30, 2025, through video conferencing. The meeting saw a mix of approvals and rejections as shareholders voted on seven key resolutions.

Approved Resolutions

The company reported that five out of the seven proposed resolutions received the requisite majority approval from shareholders. These included:

1. Adoption of audited financial statements for the year ended March 31, 2025, along with the Board of Directors' and Auditors' reports, passing with an overwhelming 99.83% votes in favor.

2. Re-appointment of Mr. Syed Fahad (DIN: 01865406) as a director, who was retiring by rotation, with 99.83% approval.

3. Appointment of Ms. Suman Bajoria as the secretarial auditor for a five-year term from 2025-26 to 2029-30, securing 99.83% of votes in favor.

4. Re-appointment of Mr. Mysore Satish Sharad (DIN: 08987445) as Managing Director, passing with 60.97% approval.

5. Appointment of Mrs. Sukanya Satish (DIN: 02488406) as a Non-Executive Promoter Director, receiving 60.96% of votes in favor.

Rejected Resolutions

Two resolutions failed to secure the necessary shareholder approval:

1. Approval for related party transactions with Ashray Farms.
2. Approval for the lease of land from Mr. Mysore Satish Sharad.

Both these resolutions received only 6.19% votes in favor, indicating significant shareholder opposition to these proposed transactions.

Meeting Participation

The AGM saw participation from 47 shareholders who attended through video conferencing. This turnout was from a total of 6,552 shareholders on record as of the cut-off date of September 23, 2025.

Voting Process

The company utilized the e-voting services provided by CDSL for both remote e-voting and voting during the AGM. The voting period for remote e-voting was from September 27, 2025, to September 29, 2025. Ms. Suman Bajoria, a Practicing Company Secretary, was appointed as the scrutinizer to ensure a fair and transparent voting process.

Management's Response

Mysore Satish Sharad, the Managing Director of Ovobel Foods Limited, signed off on the voting results report. The company's management expressed that the approved resolutions will help in steering the company's future course, while also acknowledging the shareholders' decision on the rejected proposals.

The results of this AGM reflect the active engagement of Ovobel Foods Limited's shareholders in the company's governance matters, demonstrating a balance between supporting management initiatives and exercising caution on certain business decisions.

Ovobel Foods Limited has announced its financial results for the first quarter, showcasing a significant increase in revenue while maintaining stable profitability.

Revenue Growth

The company reported net sales of ₹6,067.91 lakhs for Q1, marking a substantial 27.5% increase from ₹4,759.02 lakhs in the same quarter last year. This growth demonstrates Ovobel Foods' strong market position and increased demand for its products in the food industry.

Profit Performance

Despite the impressive revenue growth, Ovobel Foods' net profit remained relatively flat at ₹274.68 lakhs, compared to ₹275.30 lakhs in Q1 of the previous year. However, it's worth noting that this represents a decline from the previous quarter's profit of ₹584.86 lakhs.

Key Financial Metrics

• Operating Profit: The company's operating profit before other income and finance costs stood at ₹311.39 lakhs, up from ₹255.02 lakhs year-over-year, indicating improved operational efficiency.
• Cost of Materials: The cost of materials consumed increased to ₹4,101.11 lakhs from ₹3,618.74 lakhs in the corresponding period last year, reflecting the higher production volume.
• Earnings Per Share (EPS): EPS remained stable at ₹2.90, consistent with the same quarter last year.

Financial Results Overview

Management Commentary

The Board of Directors approved these unaudited results. The company continues to operate in the food industry as its single reportable segment, as stated in the notes to the financial results.

Additional Financial Information

• Other income for the quarter stood at ₹112.48 lakhs, compared to ₹153.40 lakhs in the same quarter of the previous year.
• Finance costs increased to ₹54.99 lakhs from ₹34.25 lakhs in the same quarter last year.
• The company's total expenses for the quarter were ₹5,756.52 lakhs, up from ₹4,504.00 lakhs in the corresponding period of the previous year.

Ovobel Foods Limited's Q1 results demonstrate the company's ability to significantly grow its revenue while maintaining profitability in a challenging market environment. The substantial increase in sales suggests strong demand for the company's products, although increased costs have impacted the bottom line. Investors and analysts will be watching closely to see how the company manages its growth and costs in the coming quarters.