Prime Fresh Limited has announced that its Board of Directors formally acknowledged the resignation of Independent Director Mr. Shekhar Mennon (DIN: 02262964) through a circular resolution dated December 13, 2025. The resignation was submitted with immediate effect on December 12, 2025, due to his other pre-occupations, marking the end of his tenure that began in 2021.

Board Resolution and Regulatory Compliance

The company filed the necessary disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board took formal note of the resignation letter received from Mr. Mennon via letter and email dated December 12, 2025.

Audit Committee Reconstitution

Following Mr. Mennon's resignation from the Audit Committee, Prime Fresh Limited has reconstituted the committee with effect from December 13, 2025. The new composition ensures continued governance oversight and regulatory compliance.

Other Directorships

Mr. Shekhar Mennon continues to hold directorships in other listed entities, demonstrating his experience in corporate governance. He serves as Non-Executive Independent Director at Baba Arts Limited, where he is a member of the Audit Committee and Nomination & Remuneration Committee, and Chairperson of the Stakeholders Relationship Committee. At Rose Merc Limited, he holds similar positions as Non-Executive Independent Director and serves as Chairperson of both the Audit Committee and Stakeholders Relationship Committee.

Corporate Governance Impact

The resignation letter confirmed that there are no material reasons for Mr. Mennon's departure other than his pre-occupations mentioned in the resignation communication. Prime Fresh Limited has maintained full regulatory compliance throughout the transition process, ensuring transparent disclosure to stakeholders and the stock exchange.

Prime Fresh Limited , a leading agri-supply-chain and fresh-produce distribution company in India, has reported impressive financial results for the second quarter of fiscal year 2026. The company's focus on procurement efficiency, expansion of institutional supply partnerships, and strengthening of cold-chain capabilities has resulted in robust growth across key metrics.

Financial Highlights

Prime Fresh Limited achieved its highest-ever quarterly revenue in Q2 FY26, with significant year-over-year improvements across various financial parameters:

The company's performance for the first half of FY26 (H1 FY26) also showed strong growth:

Operational Highlights

Prime Fresh Limited has made significant strides in expanding its operations and improving its supply chain capabilities:

1. Initiated a major expansion with an integrated vegetable cluster in Nashik to strengthen sourcing and backward integration.
2. Received preliminary approval for advanced horticulture cluster projects submitted to the National Horticulture Board.
3. Enhanced farmer support, mechanization, and expanded aggregation, processing, and cold-chain infrastructure.
4. Improved cold-chain routing, packhouse utilization, and digital traceability across procurement hubs.
5. Strengthened export readiness with increased focus on high-value crops such as grapes, pomegranates, and baby corn.

Management Commentary

Mr. Hiren Ghelani, Founder and Whole Time Director of Prime Fresh Limited, commented on the results, stating that the company's performance for Q2 FY26 was marked by consistent operational execution and continued progress on strategic initiatives. He highlighted the company's focus on strengthening backward integration and improving supply-chain precision, which yielded positive results despite unfavorable climatic challenges.

Mr. Ghelani also noted the substantial progress made in advancing the company's long-term growth roadmap, including the development of the Peri-Urban Vegetable Cluster in Nashik. These initiatives are expected to significantly enhance the company's sourcing depth, farmer coverage, processing capabilities, and value-added offerings in the coming years.

Future Outlook

Looking ahead, Prime Fresh Limited expects growth to be driven by stronger performance in key fruit and vegetable categories, improved seasonal availability, and expanding institutional and export demand. However, the company acknowledges the challenging climatic environment that may impact its long-term growth rate during H2 of FY2026. To counter these challenges, Prime Fresh is expanding into new geographies, products, and sales partnerships.

With its well-integrated supply-chain model, strengthened distribution footprint, and clear execution roadmap, Prime Fresh Limited remains well-positioned to deliver sustainable growth through the remainder of FY26 and into FY27.

About Prime Fresh Limited

Established in 2007 and headquartered in Ahmedabad, Prime Fresh Limited is a fully integrated Agri Value Chain company specializing in post-harvest supply chain management of fruits and vegetables. The company has built a strong reputation in domestic markets by focusing on end-to-end post-harvest supply chain solutions and serves some of India's largest national retailers.

Prime Fresh Limited's network extends to more than 120,000 farmers across 18 states, with sourcing operations in 85 districts across Maharashtra, Gujarat, Rajasthan, Uttar Pradesh, Himachal Pradesh, and Kashmir. The company's annual sourcing capacity exceeds 200,000 tonnes, and it handles over 450 tonnes of fresh fruits and vegetables daily from 16+ locations.