Diana Tea Company’s Board of Directors met on August 12, 2026, to approve the unaudited standalone financial results for the quarter ended June 30, 2026. Key decisions included the approval of a preferential issue of up to 4,074,075 equity convertible warrants at ₹27 each, aiming to raise approximately ₹110 crore. The Board also re-appointed Mrs. Sarita Singhania as Whole Time Director for a five-year term and set the 115th Annual General Meeting for September 11, 2026.
Board Meeting Highlights: Q1 Financials and Strategic Initiatives
The Board of Directors of Diana Tea Company Ltd convened on Wednesday, August 12, 2026, to review and approve significant corporate actions. The meeting resulted in the adoption of the unaudited standalone financial results for the quarter ended June 30, 2026, along with the Limited Review Report from the Statutory Auditors. The company also took on record several crucial proposals aimed at strengthening its financial position and governance framework.
Fundraising and Financial Approvals
A major resolution from the meeting was the approval of a proposal for raising funds through the issuance of up to 4,074,075 Equity Convertible Warrants. These warrants, offered via a preferential issue, carry an entitlement to subscribe for fully paid-up Equity Shares at a price of ₹27 per warrant, including a premium of ₹22. This initiative is expected to aggregate approximately ₹11,00,00,025 (Rupees Eleven Crores and Twenty-Five Only). The approval is subject to shareholder consent at the upcoming Annual General Meeting.
Additionally, the Board approved enhanced limits for the company’s assets, properties, or undertakings up to ₹100 crore for sale, mortgage, or charge, and threshold limits for loans, guarantees, securities, and investments also up to ₹100 crore. Both are subject to shareholder approval.
Corporate Governance and Appointments
In a move reinforcing leadership continuity, the Board approved the re-appointment of Mrs. Sarita Singhania (DIN No. 00343786) as Whole Time Director for a second term of five years, effective from November 11, 2026, to November 10, 2031. This appointment is also contingent on member approval.
The company also announced key dates for its shareholder engagement. The 115th Annual General Meeting (AGM) is scheduled for Friday, September 11, 2026, at 3:00 PM, to be conducted via Video Conferencing (VC) or other audio-visual means. The Notice of this AGM was also considered and approved. Furthermore, the Register of Members and Share Transfer Books will be closed from September 5, 2026, to September 11, 2026, inclusive, for the purpose of the AGM. The cut-off date for reckoning voting rights for remote e-Voting and e-Voting on the AGM day is set for Friday, September 4, 2026.
Adoption of New Constitutional Documents
The Board also approved the adoption of a new set of Memorandum of Association (MOA) and Articles of Association (AOA) for the Company, in compliance with the Companies Act, 2013. These changes, which aim to re-align with current regulations and streamline governance, will be presented for shareholder approval at the ensuing AGM.
Unaudited Financial Results Overview
The detailed unaudited standalone financial results for the quarter ended June 30, 2026, revealed a Net Profit of ₹551.74 Lakh, a significant turnaround from a Net Loss of (₹966.37) Lakh in the March 2026 quarter. Total Comprehensive Income stood at ₹627.00 Lakh. The results reflect a positive trend in revenue from operations at ₹2,617.58 Lakh, alongside a substantial increase in expenses. Earnings per share (basic & diluted) for the quarter were ₹3.68.
Source: BSE
