Parle Industries Ltd — Board Meeting, 20-06-2025: Board Meeting

Parle Industries Limited has announced a board meeting to approve the financial results for the quarter and half-year. The company faced a legal dispute due to non-receipt of consideration from shareholders of Welldone Integrated Services Pvt Ltd and Marvelous Vickyfoods Pvt Ltd in a share-swap deal valued at Rs. 81.54 Cr. These entities failed to transfer shares as agreed, leading to termination of the Share Purchase Agreement. As a result, the investment and corresponding equity capital recorded are overstated and subject to forfeiture. These two entities were not consolidated in the financial statements. The auditors issued a qualified opinion due to this dispute but confirmed the rest of the financials present a true and fair view. The standalone and consolidated results show modest profits before tax of Rs. 27.54 lakhs and Rs. 66.30 lakhs respectively, with segment revenues mainly from Infrastructure & Real Estate. The company continues to manage its borrowings and operational cash flows, with a stable equity base of Rs. 48.84 Cr.