Dharti Proteins Closes Trading Window Amidst CIRP and Auditor Concerns

Dharti Proteins Limited will close its trading window for designated persons starting April 1, 2026. This closure precedes the company's announcement of audited financial results for the quarter and full fiscal year ending March 31, 2026.

What happened

Dharti Proteins announced the closure of its trading window for insiders effective April 1, 2026. This is a standard measure required by SEBI's Prohibition of Insider Trading Regulations, 2015, aimed at preventing trades based on unpublished price-sensitive information.

The window will reopen 48 hours after the board officially announces the audited financial results for the fiscal year 2025-26.

Why this matters

Trading window closures are a routine step for listed companies. They ensure fair and transparent trading of shares, especially during the sensitive period leading up to financial results. By restricting insiders, SEBI regulations prevent unfair advantages and protect market integrity.

The backstory

Dharti Proteins, which historically traded edible oils and agro commodities, has faced significant financial challenges. The company entered Corporate Insolvency Resolution Process (CIRP) after an NCLT order on April 29, 2024, due to defaults.

A significant ownership change occurred when Jatinbhai Ramanbhai Patel acquired an 85% stake in February 2026, following the NCLT's approval of a resolution plan on November 18, 2025.

Despite these changes, the company's financial performance remains weak. For the quarter ending December 31, 2025, it reported a net loss of ₹34.22 lakh on minimal revenue of ₹0.44 lakh. Auditors issued a 'Qualified Opinion', casting substantial doubt on the company's ability to continue as a going concern. This opinion cites years of inactivity and significant bad debts.

What changes now

Company insiders and designated persons are now prohibited from trading Dharti Proteins shares until the official announcement of the FY26 audited results, plus the 48-hour reopening period.

Risks to watch

The company's ongoing CIRP status and the auditors' qualified opinion remain key risks. Auditors highlighted concerns about its 'going concern' ability due to inactivity, ₹150.46 lakh in bad debts, and a negative net worth of ₹146.42 lakh as of December 31, 2025.

Peer comparison

Dharti Proteins operates in the edible oil sector, with peers like Marico, Patanjali Foods, and AWL Agri Business. However, direct comparison is challenging due to Dharti Proteins' ongoing CIRP and largely inoperative status.

What to track next

Investors await the company's notification of the Board Meeting date where the audited FY26 financial results will be considered. The formal announcement of these results will provide a complete financial picture for the fiscal year. Following this, market participants will focus on the implications of the NCLT-approved resolution plan and the auditor's qualifications.