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Latest filing: 2026-08-11 14:27
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Tasty Dairy Q1 FY27: Rs 4.6 Cr EMD Received Under CIRP Amid Total Net Worth Erosion
Tasty Dairy Specialities, currently under Corporate Insolvency Resolution Process (CIRP), reported its Q1 FY27 results with a qualified auditor's opinion highlighting total net worth erosion and cessation of manufacturing. The Resolution Professional (RP) has received Rs 4.60 Cr as Earnest Money Deposit (EMD) from prospective bidders, currently held in a fixed deposit. Auditors have flagged that trade receivables are largely non-recoverable and assets sold by banks under SARFAESI are still incorrectly reflected in the books. With a negative net worth of Rs 35 Cr and TTM revenue of only Rs 3 Cr, the company's ability to continue as a going concern is under significant doubt.
Confidence: HIGH
What changedThe company has progressed in its insolvency process by collecting EMDs from potential bidders, while its operational status remains stalled with no manufacturing activity.
Why it mattersThe filing confirms the company is no longer a functional business and its future depends entirely on the resolution plan approved by the NCLT, with current financials showing total capital erosion.
EMD Fixed Deposit: Rs 4.60 CrNet Worth: Rs -35 CrCIRP Commencement Date: October 07, 2025EMD vs Market Cap: 57.5%Unrecovered Cash in Hand: Rs 9,098.87
📅 Short termThe stock is likely to remain highly volatile or face trading restrictions as the insolvency process continues; the qualified audit report reinforces negative sentiment.
📈 Long termThe long-term outlook is entirely dependent on the CIRP outcome; typically, retail shareholders receive little to no value in such resolution plans.
⚠ Risk flags
- Going concern uncertainty
- Total net worth erosion
- Corporate Insolvency Resolution Process (CIRP)
- Non-recoverable trade receivables
Key Highlights
Rs 4.60 Cr received as Earnest Money Deposit (EMD) from prospective resolution applicants and placed in Fixed Deposits.
Net worth stands fully eroded (Rs -35 Cr as per latest context) with all manufacturing activities ceased.
Auditors issued a qualified opinion due to non-recoverability of trade receivables and loans/advances.
Company has been under CIRP since October 07, 2025, following an NCLT Allahabad Bench order.
Assets sold by lending banks under SARFAESI prior to CIRP are still reflected in Property, Plant and Equipment due to lack of documentation.
👀 What to Watch
Investors should closely monitor the NCLT proceedings and the selection of a successful resolution applicant, as existing equity is at high risk of significant dilution or wipeout in insolvency cases.
