Tasty Dairy Specialities Posts FY26 Net Loss of ₹496.82 Lakhs Amid Ongoing CIRP

Tasty Dairy Specialities Limited has submitted its audited standalone financial results for the quarter and year ended March 31, 2026, to the Bombay Stock Exchange. The results were considered and approved by Resolution Professional Mr. Anish Agarwal on May 12, 2026. The company is currently undergoing the Corporate Insolvency Resolution Process (CIRP) pursuant to an order dated October 07, 2025, passed by the Hon'ble National Company Law Tribunal (NCLT), Allahabad Bench, on an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Punjab National Bank. The financial statements have been prepared on a non-going concern basis, reflecting the suspension of manufacturing operations and full erosion of net worth.

Financial Performance

The company reported a sharp contraction in operating activity for the fiscal year. Revenue from operations for FY26 stood at ₹332.03 lakhs, compared to ₹644.27 lakhs in the previous year. For the quarter ended March 31, 2026, no revenue from operations was recorded. The company posted a net loss of ₹496.82 lakhs for the full year, compared to a loss of ₹993.15 lakhs in FY25. Total expenses for FY26 were reduced to ₹889.11 lakhs, driven by lower finance costs and reduced material consumption. The following table summarises the key financial metrics across periods:

Metric: Q4 FY26 (Audited) Q3 FY26 (Unaudited) Q4 FY25 (Audited) FY26 (Audited) FY25 (Audited) Revenue from Operations (₹ Lakhs): — 7.80 202.08 332.03 644.27 Other Income (₹ Lakhs): 43.71 11.00 2.32 60.26 3.28 Total Income (₹ Lakhs): 43.71 18.80 204.40 392.29 647.55 Total Expenses (₹ Lakhs): 54.39 92.54 442.29 889.11 1,621.62 Net Loss (₹ Lakhs): (10.68) (73.74) (251.62) (496.82) (993.15) Basic EPS (₹): (0.05) (0.36) (1.23) (2.43) (4.86)

Balance Sheet Position

The standalone balance sheet as of March 31, 2026, reflects the company's stressed financial position. Total assets stood at ₹5,805.10 lakhs, while equity turned deeply negative at ₹3,469.68 lakhs. Cash and cash equivalents increased significantly to ₹255.34 lakhs, primarily due to a Fixed Deposit of ₹2.30 crore created from Earnest Money Deposits received from prospective resolution applicants. Non-current borrowings rose to ₹3,973.67 lakhs from ₹2,790.25 lakhs in the prior year, while current borrowings stood at ₹962.99 lakhs.

Parameter: As at 31 March 2026 (₹ Lakhs) As at 31 March 2025 (₹ Lakhs) Total Assets: 5,805.10 5,478.45 Total Equity: (3,469.68) (2,972.86) Non-Current Borrowings: 3,973.67 2,790.25 Current Borrowings: 962.99 3,949.82

Auditor's Qualified Opinion

Statutory auditors Neha B Agarwal & Co. issued a qualified opinion on the standalone financial results. The qualifications include unresolved litigations where documentation was not fully available, non-recognition of asset sales made by the lending bank under the SARFAESI Act, and the absence of impairment testing for tangible assets pending CIRP completion. Additionally, certain requirements of Indian Accounting Standards could not be fully complied with due to operational constraints. The audit qualification is repetitive, occurring for the second consecutive year. The auditors noted that the consequential financial impact of these matters is currently not ascertainable.

CIRP Status and Related Party Transactions

The Resolution Professional has received Resolution Plans from 11 prospective applicants, which are under evaluation by the Committee of Creditors. Loans as at the reporting date amount to ₹49.36 crore, comprising secured bank borrowings from Punjab National Bank as per the books of account. Related party transactions during the half year ended March 31, 2026, included co-packing income of ₹22.65 lakhs and rental income of ₹27.80 lakhs from Agrim Foods LLP. An Earnest Money Deposit of ₹40.00 lakhs was received from Atul Mehra during the period, bringing the closing balance to ₹50.00 lakhs.

Related Party Transaction: Value (₹ Lakhs) Sale of goods/services – Agrim Foods LLP: 7.80 Purchase of goods/services – Agrim Foods LLP: 15.58 Co-packing income – Agrim Foods LLP: 22.65 Rental income – Agrim Foods LLP: 27.80 Paid on behalf of company – Agrim Foods LLP: 26.15 EMD received – Atul Mehra: 40.00

Impact of Audit Qualifications

The Statement on Impact of Audit Qualifications filed under Regulation 33 of SEBI (LODR) Regulations, 2015, confirms that the audited figures remain unchanged before and after adjusting for qualifications, as the consequential impact is not ascertainable. Total income stands at ₹392.29 lakhs, total expenditure at ₹889.11 lakhs, net loss at ₹496.82 lakhs, and net worth at negative ₹3,469.68 lakhs. Management has stated that necessary adjustments, if any, will be accounted for upon completion of the CIRP and approval of the Resolution Plan by the Hon'ble NCLT.

Tasty Dairy Specialties Limited has announced an extension of the deadline for submission of resolution plans under its ongoing Corporate Insolvency Resolution Process. The Committee of Creditors has approved the extension following requests from Prospective Resolution Applicants.

Resolution Plan Timeline Extended

The Committee of Creditors has approved extending the deadline for resolution plan submissions by seven days. The decision comes in response to requests received from multiple Prospective Resolution Applicants who sought additional time to finalize their proposals.

Parameter: Details Original Deadline: February 28, 2026 Extended Deadline: March 7, 2026 Extension Period: 7 days Approved By: Committee of Creditors

Corporate Insolvency Process Status

Tasty Dairy Specialties Limited continues to operate under the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code 2016. The company's affairs, business and assets are being managed by Resolution Professional Anish Agarwal, who was appointed through an order dated October 7, 2025.

Role: Details Resolution Professional: Anish Agarwal IP Registration No.: IBBI/IPA-001/IP-P-01497/2018-2019/12256 Appointment Date: October 7, 2025 Regulatory Framework: Insolvency and Bankruptcy Code 2016

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information has been disclosed to the Bombay Stock Exchange and made available on the company's corporate website at www.tastydary.com .

The extension provides Prospective Resolution Applicants with additional time to prepare comprehensive resolution plans for the company's revival under the insolvency resolution framework.

We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better.

Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians.

As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation.

We plan to change that - a technology-led and artificial intelligence enabled platform built for super traders and long term investors.

Disclaimer:

The data and information provided on this website is for general informational and research purposes only. While we strive to ensure that the content is accurate, up-to-date, and reliable, this platform utilizes artificial intelligence (AI) tools to generate, curate, and summarize information. As such, the content may occasionally contain errors, omissions, or outdated information. All users are therefore advised to cross verify the source of the data and information.

This website does not constitute professional, legal, financial, medical, or any other form of licensed advice. Users are encouraged to independently verify any information before relying on it, especially for decisions that may have legal, financial, or personal consequences.

The views, analyses, and summaries presented on this platform may be generated or assisted by AI and do not necessarily reflect the opinions of the website owners, operators, editors, or affiliates.

We make no warranties or representations, express or implied, regarding the completeness, accuracy, reliability, suitability, or availability of the information contained on this website. Any reliance you place on such information is strictly at your own risk.

This website may include links to third-party sources or content. We do not control or endorse the nature, accuracy, or availability of those external sites and are not responsible for any content or damages arising from their use.

By using this website, you acknowledge and agree that the use of AI-generated content involves inherent limitations, uncertainties and inaccuracies, and you accept full responsibility for how you interpret and use the information provided.

We reserve the right to modify, update, or remove content and this disclaimer at any time without prior notice.