Board Meeting28 Apr 2026, 06:21 pm
PAIL Board approves Q4/FY26 results, demerger & auditor resignation
AI Summary
Piccadily Agro Industries Ltd's Board, in its meeting on April 28, 2026, approved the Q4 and FY26 audited standalone and consolidated financial results. A major decision was the approval of a Scheme of Arrangement for the demerger of the company's Sugar Business into Piccadily Food & Essential Limited (PFEL), a wholly-owned subsidiary. This demerger, subject to regulatory and shareholder approvals, will create two listed entities: PAIL for the Distillery Business and PFEL for the Sugar Business. The Board also approved a report on the scheme's impact and noted the resignation of statutory auditors.
Key Highlights
- Board approved Q4 and FY26 audited financial results.
- Scheme for demerger of Sugar Business into PFEL approved.
- Demerger to create two listed entities: Distillery (PAIL) and Sugar (PFEL).
- Scheme is subject to regulatory and shareholder approvals.
- Statutory auditors' resignation was also noted.