Prataap Snacks Limited, the popular Indian snack food company, has issued a clarification regarding recent reports about investor Mahi Madhusudhan Kela's alleged exit from the company. The snack maker has firmly stated that these reports are inaccurate and that Kela remains invested in the company.

Official Clarification

In an official statement to the stock exchanges, Prataap Snacks addressed the news article titled "Top Investors: A Wealthcheck" published in The Economic Times on August 13, 2025. The company categorically denied the claim that Mahi Madhusudhan Kela had exited his investment in Prataap Snacks.

Sanjay Chourey, Company Secretary of Prataap Snacks, stated in the filing, "We would like to clarify that the said news item is factually incorrect and misleading. We confirm that Mr. Mahi Madhusudhan Kela continues to hold his investment in the Company and there has been no such exit as alleged in the said article."

Investor Advisory

The company has urged investors and stakeholders to exercise caution and not rely on unfounded news items. This move underscores Prataap Snacks' commitment to transparency and accurate information dissemination to its shareholders and the public.

Regulatory Compliance

The clarification was made under Regulation 30(11) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating the company's adherence to regulatory standards and its proactive approach to addressing market rumors.

About Prataap Snacks

Prataap Snacks, known for its Yellow Diamond brand, is a key player in the Indian snack food market.

This clarification from Prataap Snacks highlights the importance of official company communications in dispelling market rumors and maintaining investor confidence. As always, investors are advised to rely on official statements and regulatory filings for accurate information about their investments.

Prataap Snacks Limited, a leading Indian snack food company, has taken a significant step towards diversifying its operations and enhancing sustainability. The company has amended its Memorandum of Association (MOA) and Articles of Association (AOA) to include provisions for renewable energy and captive power generation.

Strategic Expansion into Renewable Energy

The company's shareholders approved the amendments at the 16th Annual General Meeting held on August 6. This move allows Prataap Snacks to engage in generating, producing, and distributing power from various renewable and conventional energy sources, including solar, wind, hydel, and biomass.

Key Changes in Corporate Documents

The amended MOA now includes a new sub-clause that enables the company to:

• Generate power from renewable and conventional energy sources
• Establish and operate power plants and related infrastructure
• Conduct research and development in energy efficiency and conservation

These changes are primarily aimed at facilitating captive consumption for the company's operations, potentially reducing energy costs and enhancing operational efficiency.

Alignment with Regulatory Requirements

The amendments are in compliance with the Electricity Act, 2003, and guidelines issued by the Government of Madhya Pradesh. The company's AOA has also been updated to include definitions related to power purchase agreements and projects, ensuring alignment with regulatory frameworks governing captive power generation.

Modernization of Corporate Structure

In addition to the energy-related changes, Prataap Snacks has adopted a new set of MOA in line with the Companies Act, 2013, replacing the previous version based on the Companies Act, 1956.

Shareholder Approval and Voting Results

The amendments received overwhelming support from shareholders. Key resolutions, including the alteration of the MOA and AOA, were passed with over 99% of votes in favor. This strong backing indicates shareholder confidence in the company's strategic direction.

Implications for Future Growth

By expanding into renewable energy and enabling captive power generation, Prataap Snacks is positioning itself for potential cost savings and improved sustainability in its operations. This move could contribute to the company's long-term competitiveness in the snack food industry while also aligning with global trends towards cleaner energy adoption in the corporate sector.

The company's decision to diversify into energy production, while maintaining its core focus on snack foods, represents a forward-thinking approach to business sustainability and operational efficiency. As Prataap Snacks implements these changes, stakeholders will be watching closely to see how this strategic shift impacts the company's performance and environmental footprint in the coming years.