Nitta Gelatin India Ltd

AGM details

• AGM held on 31 July 2026 at 10:30 AM via Video Conferencing.
• Attendance: shareholders participated through VC.
• Meeting duration: 1 hour 15 minutes.

Key resolutions

• Ordinary: Adopt standalone and consolidated financial statements with reports.
• Ordinary: Declare dividend on Redeemable Preference Shares.
• Ordinary: Declare dividend on Equity Shares.
• Ordinary: Re-appoint Hidenori Takemiya, retiring by rotation.
• Special: Appointment of Dr. Balu Paulose Maliakel as Independent Director.
• Special: Re-appointment of V. Ranganathan as Independent Director.
• Ordinary: Approve entering into Related Party Transactions.

Voting results

• Voting results to be announced separately; Scrutinizer’s report to be issued.

Dividend

• Dividend on Redeemable Preference Shares proposed/declared.
• Dividend on Equity Shares proposed/declared.

Related party transactions

• Approval for entering into Related Party Transactions.

Auditors

• No changes in statutory, secretarial or cost auditors disclosed at the AGM.

Other material approvals

• No other material approvals disclosed in this chunk.

SION revision update

• Rep to DGFT for restatement of SION based on technical assessment.
• No financial impact expected from the SION revision.
• Customers of Ossein and Limed Ossein to absorb any shortfall obligation if liable.
• From July 2026, imports will be under the Duty Drawback Scheme.
• SION change has no significant financial bearing.

Board actions

• Board approved unaudited standalone and consolidated results for quarter ended 30 June 2026.
• Results prepared per Ind AS 34 and filed under Regulation 33 of SEBI Listing Regulations.
• Postal ballot for Arun K Viyayan IAS as KSIDC Nominee Director.

Auditors & review

• Walker Chandiok & Co LLP conducted the limited review of the unaudited statements.
• No material misstatement observed in the review.

Director appointment

• Shri Arun K Vijayan IAS appointed as Non-Executive Nominee Director, replacing Vishnuraj P IAS, effective 14 July 2026.

Promoter nomination

• Promoter KSIDC nominated Arun K Vijayan IAS as Director.

Professional profile

• 2016 IAS Kerala cadre; BE Electrical; MPA; former Collector and MD KSIDC.

Relationships

• Not related to any Director of the Company.

Board impact

• No stated impact on board/committee composition.

Financial performance (standalone)

• Total standalone income: 61,409 Lakh, up from 53,743.
• Standalone sales: 56,429 Lakh; exports: 21,944 Lakh.
• Pre-tax profit: 14,560 Lakh; PAT: 11,059 Lakh.
• Earnings per share: 121.81; dividend per equity share: 7.00.
• Operating cash flow: 12,501.72 Lakh; net cash from investing: -17,553.88 Lakh.
• Net decrease in cash and cash equivalents: 9,586.02 Lakh; cash balance: 783.74.

Expansion & operations

• Collagen Peptide project commissioned; capacity 3.5 MT/day.
• Gelatin Expansion Project progressing; capacity expansion planned.
• 550 MT expansion plant completed; commercial production commenced in Q2 FY2025-26.
• Migrated from SAP ECC to SAP S/4HANA with improved workflows.
• Warehouse management module, real-time tracking enhancements implemented.
• Solar plants: 1.18 MW (Gelatin) and 0.78 MW (Ossein).
• DCP reaction pumping automated; direct heating system installed.
• Gelatin and Collagen Peptide plants operated near full capacity; cost controls ongoing.

Dividend & capital allocation

• Equity dividend proposed: 7 per equity share for year ended 31 Mar 2026.
• Redeemable preference shares dividend: 7.65063% on 44,44,444 shares.
• Total dividend outflow: 669.54 Lakh; 34 L on pref; 635.54 on equity.
• Unpaid dividend (2018-19): 1,17,630; to be transferred to IEPF by 30 Aug 2026.
• Record date: 24 Jul 2026; dividend to be paid by 29 Aug 2026.

Governance & leadership changes

• Dr. Balu Paulose Maliakel appointed Independent Director for five-year term.
• Mr. V. Ranganathan re-appointed Independent Director for a second three-year term.
• Key management: Praveen Venkataramanan (MD); Uppiliyappan C (CFO); Vinod Mohan (CS).
• Board met 6 times; new appointments: Vishnuraj P appointed; Mir Mohammed Ali ceased.
• Independent Directors' oversight and committee structure maintained.

Related party transactions

• Material RPTs with Nitta Gelatin Inc., Japan; Nitta Gelatin NA Inc., USA; Bamni Proteins Ltd.
• Last year related party transactions totaled approximately 9,230–9,500 Lakh range with major parties.
• Proposed transactions (2026-27) include purchases of 19,500 Lakh and sales 14,000 Lakh with NGI entities; services 300 Lakh and 150 Lakh.
• All RPTs reviewed by Audit Committee and executed on arm's length terms; voting abstentions as required.

Subsidiary & CSR

• Bamni Proteins Limited: factory closed; assets held for sale; continuity not viable; discontinued operations.
• Subsidiary carrying value for held-for-sale assets: 530.38 Lakh; sale process ongoing.
• CSR expenditure for the year: 195.65 Lakh; excess set-off of 6.34 Lakh; policy on gelatin.in.

Audit, internal controls & risk

• Statutory auditors: Walker Chandiok & Co. LLP; Secretarial auditors: SEP & Associates.
• Internal controls: no material weaknesses; CRO-led internal audit strengthening.
• Auditors’ report notes on controls over SAP, procurement, and related processes; mitigations implemented.
• Management maintains risk framework; key risks include raw material cost, tariff exposure, currency, and cyber risk.

Risks & outlook

• US tariff uncertainties impacting exports; domestic demand remains robust.
• Expansion in Collagen Peptide and Gelatin markets; consumer wellness trends favorable.
• Diversified markets and robust supply chain management to mitigate geopolitical risks.
• ERP migration and cost-control initiatives expected to support future profitability.

Dematerialisation processing and listing status

• Dematerialisation requests received during quarter ended 30.06.2026 were processed (accepted/rejected) and confirmed to depositories.
• Securities dematerialised have been listed on the stock exchanges where earlier issued securities are listed.
• Physical certificates were mutilated and cancelled after verification; depository's name substituted as registered owner within timeline.

AGM Details

• Fiftieth AGM to be held on 31 July 2026 at 10:30 AM IST via Video Conferencing.
• Record date for dividend eligibility fixed as 24 July 2026.