Tasty Dairy Specialities Reports Q1 Results Amid Ongoing Insolvency Proceedings

Tasty Dairy Specialities Reports Q1 Results Amid Ongoing Insolvency Proceedings​

Tasty Dairy Specialities Limited has reported its unaudited financial results for the quarter ending June 30, 2026. The company's performance and financial statements are released while it is undergoing Corporate Insolvency Resolution Process (CIRP).

The company's management and affairs have been vested in the Interim Resolution Professional (IRP), Mr. Anish Agarwal, following an order by the National Company Law Tribunal (NCLT) dated October 07, 2025. Due to accumulated losses and the cessation of manufacturing activities, the financial results have been prepared on a basis other than going concern.

The Independent Auditor provided a Qualified Conclusion on the unaudited financial results. The auditor noted that the carrying values are subject to uncertainty due to the ongoing CIRP process. Key aspects highlighted by the audit review include:

• Asset Valuation: Certain assets, sold by a lending bank under the SARFAESI Act in prior to the commencement of CIRP, were not recognized as sales in the company's books because complete details and recognition from the suspended management were unavailable. These assets remain reflected in Property, Plant and Equipment but are classified as other long-term liabilities.
• Recoverability: The balances of trade receivables, loans, and advances are non-recoverable, and the recoverability of certain other balances remains uncertain pending the completion of CIRP.

Financial Performance Summary​

The results for the quarter ending June 30, 2026, showed a loss across key metrics:


The company recorded a Basic Earnings per Equity Share of (0.16), while the Diluted EPS was also reported at (0.16).

Balance Sheet and Financial Liabilities​

As of June 30, 2026, the company's total assets stood at 5,780.56 Lakhs. The statement of accounts reveals significant financial commitments and constraints arising from the CIRP status:


The notes provided to the financial statements clarified that loans and advances include amounts given to Uttar Pradesh State Industrial Development Authority (UPSIDC) which were cancelled due to non-fulfillment of stipulated conditions, and other advances related to residential flats located at Yamuna Expressway, Gautam Budh Nagar.

Operational Highlights and Resolution Process Updates​

The Resolution Professional continued the arrangement with Agrim Food LLP for the use of certain plant and machinery and one vehicle of the company on agreed commercial terms.

Regarding the ongoing resolution process, reports indicate:

• Nine existing Prospective Resolution Applicants (PRAs) continue to participate in CIRP after two PRAs withdrew their Earnest Money Deposits (EMDs).
• The Committee of Creditors held its 10th CoC Meeting on July 2, 2026, and a republication of Form G was done on July 18, 2026. The last date for submission of Resolution Plans is September 19, 2026.
• The RP also reported receiving additional Expressions of Interest from prospective resolution applicants following the republished Form G.

Furthermore, it was noted that a portion of the loan facilities extended by Punjab National Bank (PNB) had been converted into Optionally Convertible Preference Shares (OCPS), which are classified under Other Non-Current / Other Financial Liabilities in the company's books.

Stock Price Movement​

As of 14:20, Tasty Dairy Specialities Ltd is edging higher, with shares currently standing at ₹4.10, up 3.27% during the day. The stock found a solid trading range, moving between the low of ₹3.97 and hitting an intraday high of ₹4.16.