Dharti Proteins Limited has successfully emerged from its Corporate Insolvency Resolution Process (CIRP). The company reported a net loss of Rs 84.65 lakh for FY 2025-26 as it transitions under new management. Investors are now looking toward the upcoming AGM, which features significant proposals for high borrowing and investment limits, signaling a potential shift in the company's future operational strategy.
Dharti Proteins Emerges from CIRP with New Strategic Focus
Net Loss: Rs 84.65 lakh (FY 2025-26)
Paid-up Capital: Rs 50 lakh (as of March 31, 2026)
Reader Takeaway: Company completes debt resolution under new management; watch for massive proposed borrowing limits at upcoming AGM.
What just happened
Dharti Proteins Limited (formerly Devika Proteins Limited) has officially emerged from its Corporate Insolvency Resolution Process (CIRP) as of November 2025. The company underwent a comprehensive capital restructuring, which involved cancelling all existing shares and issuing new equity to promoters and creditors. The company currently holds a paid-up capital of Rs 50 lakh, divided into 5,00,000 equity shares.
Why this matters
This marks a fresh start for the company under a new board appointed in December 2025. While the FY 2025-26 financial results indicate a net loss of Rs 84.65 lakh and low revenue of Rs 2.97 lakh, these figures reflect a transitional period. The focus for shareholders now shifts to the AGM scheduled for September 28, 2026, where the management will seek approval for aggressive growth-oriented resolutions.
The backstory
The company faced significant financial headwinds during its tenure as Devika Proteins, eventually entering CIRP. Post-restructuring, Mr. Jatinbhai Ramanbhai Patel has taken over as Managing Director, alongside CFO Mr. Sohan Lal. The board is now fully reconstituted, and the company is preparing for its next phase of operations.
What changes now
The management has proposed resolutions to increase borrowing limits and investment capacities under Sections 180 and 186 to Rs 5,000 crore each. Additionally, the company seeks approval to borrow unsecured loans of up to Rs 100 crore from the Director, with an option to convert these into equity in the future. These steps suggest that the new promoters have ambitious expansion plans.
Risks to watch
Investors should note that the company’s securities remain suspended on the BSE, pending approval for trading the new shares. Furthermore, the proposed borrowing limits of Rs 5,000 crore are exceptionally high relative to the company's current paid-up capital of Rs 50 lakh, warranting careful scrutiny of the management's capital allocation plans.
What to track next
Watch for the outcome of the AGM on September 28, 2026. The adoption of the new Memorandum and Articles of Association and the timeline for resuming trading on the BSE will be critical developments for shareholders.