Sundrop Brands Limited has announced the resignation of Dr. Om Prakash Manchanda as Non-Executive Independent Director, effective February 27, 2026. The resignation was communicated to stock exchanges in compliance with regulatory requirements under SEBI listing obligations.

Resignation Details

Dr. Manchanda submitted his resignation letter on February 26, 2026, citing enhanced professional commitments as the primary reason for his departure. In his resignation letter, he stated that these commitments would not permit him to devote adequate time and attention to the affairs of the board and its committees.

Committee Positions

As a consequence of his resignation from the board, Dr. Manchanda will also step down from his positions on multiple board committees where he served as a member:

• Audit Committee
• Nomination & Remuneration Committee
• Stakeholders Relationship Committee
• Risk Management Committee
• Corporate Social Responsibility Committee

Board's Acknowledgment

The board of directors has placed on record its sincere appreciation for Dr. Manchanda's valuable contributions and guidance during his tenure as an Independent Director. The company confirmed that Dr. Manchanda stated in his resignation letter that there are no other material reasons for his resignation beyond the enhanced professional commitments mentioned.

Other Directorships

According to the regulatory disclosure, Dr. Manchanda currently holds directorships in other listed entities:

Regulatory Compliance

The resignation was disclosed in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The company has requested the stock exchanges to take this information on record and will file the necessary statutory forms as required.

Sundrop Brands Limited showcased robust financial performance in Q3 FY26, delivering consolidated revenue growth of 10% alongside an impressive 80% surge in EBITDA. The company's diversified food portfolio strategy continues to gain traction across multiple channels and categories.

Strong Financial Performance Across Key Metrics

The company's Q3 FY26 results demonstrate consistent growth momentum across various business segments. Key performance indicators reflect the success of strategic investments and operational improvements implemented over recent quarters.

Portfolio Performance Drives Category Leadership

Sundrop Brands operates through three major brand franchises: ACT II (popcorn and ready-to-eat snacks), Sundrop (staples led by edible oils), and Del Monte (culinary and Italian foods). The company maintains market leadership positions across several categories while expanding into high-growth segments.

The popcorn business demonstrated strong momentum with 12% volume growth and 18% value growth in Q3 FY26. Ready-to-eat popcorn segments showed particularly impressive performance with 36% growth, driven by expansion in out-of-home consumption channels. The company launched 6 new products in the ACT II franchise during the year, contributing to innovation-led growth.

Category-Wise Business Performance

E-commerce and Alternative Channels Expansion

The company's e-commerce business continues to outperform with 31% growth in Q3 FY26 and 39% growth on a year-to-date basis. Quick commerce emerged as a significant growth driver, expanding approximately 50% and contributing substantially to the overall digital channel performance.

Management is leveraging e-commerce platforms to launch new categories including oats and breakfast cereals, which showed over 200% growth in modern trade and e-commerce channels. This strategy enables testing and scaling of innovations before broader distribution rollouts.

Margin Expansion Through Operational Excellence

Sundrop Brands achieved substantial margin improvements through focused cost optimization and operational efficiency initiatives. Gross margins expanded by 330 basis points in Q3 FY26, with material costs contributing 230 basis points improvement and manufacturing/logistics costs adding another 100 basis points.

The company implemented sales force automation across 58% of its network, covering approximately 220,000 outlets. This initiative aims to improve productivity and distribution metrics while providing comprehensive KPI visibility for strategic decision-making.

Innovation Pipeline Contributes to Growth

The company launched over 70 new products across its brand portfolio during the year, with innovations contributing approximately INR55 crores to sales, representing about 5% of total revenue. Recent launches include 7 SKUs in the peanut butter portfolio, with 4 focused on high-protein segments to address evolving consumer preferences.

Strategic Focus on Core Categories

Management maintains disciplined investment allocation, focusing on packaged foods business with specific emphasis on popcorn, peanut butter, culinary products, and Italian ranges. Core categories now represent 61% of total business, significantly higher than historical levels.

The company's three-brand platform strategy positions it well for both organic growth and potential inorganic expansion opportunities. Complementarity between Sundrop and Del Monte operations enables synergies in distribution, manufacturing, and market coverage across different consumer segments.