Modern Dairies Shareholders Approve FY26 Audit and Leadership Renewal

Modern Dairies shareholders approved the continuation of the company’s executive leadership for an additional three-year period following the required rotational retirement process. The renewed directorship applies to a dairy technologist with more than three decades of experience in industrial processing and international commercial operations.

The executive has overseen the company’s manufacturing activities since its establishment. The decision preserves the existing technical leadership at a time when fluid-milk and dairy-ingredient processors in northern India are operating amid tighter quality requirements and competition for milk supplies.

Shareholders also gave statutory consent to higher limits for related-party operating transactions with commercial affiliate Nabha Commerce. The authorised ceiling was set at as much as Rs145 crore. The framework covers ingredient trading, inventory balancing and the distribution of bulk commercial products.

In a separate governance measure, shareholders confirmed the remuneration arrangements for the cost audit for the 2027 financial campaign. The audit framework applies to cost-accounting compliance at the company’s fluid-milk chilling facilities, dairy-powder drying plants and fat-fractionation units.

The approvals followed changes to the company’s ownership structure earlier in the month. The promoter group increased its combined equity holding to 22.36% from 17.44% by converting preferential warrants valued at Rs9.5 crore. The conversion took place without purchases in the open market.

The transaction increased Modern Dairies’ total voting capital to Rs31.91 crore. The ownership change followed the company’s full-year 2026 reporting cycle, which recorded a 2% decline in revenue and lower annual operating profit.