KRBL addresses director resignation, export write-off, and CSR funds

KRBL Limited discussed the resignation of independent director Mr. Anil Kumar Chaudhary, effective September 8, 2025. His concerns primarily focused on board processes rather than financial or legal compliance. The company asserts adherence to legal standards and plans to appoint an independent, reputed third-party firm to review the observations within 30 days. Board and independent director meetings were convened on September 15, 2025, to address these matters.

The company also addressed an INR58 crores export receivable write-off in FY25, related to non-Basmati rice shipments in FY23 to an unrelated African customer. This write-off followed an INR18 crores expected credit loss provision in FY24, due to the counterparty being untraceable. KRBL plans arbitration and a collection fund to recover the funds, with any recoveries to be recognized in the P&L. The company acknowledged dealing with the defaulting party previously between 1995 and 2005.

Additionally, KRBL confirmed INR40 crores spent on CSR over three years, with an unspent balance of INR37 crores, and clarified its plan to utilize available funds for real estate projects to unlock shareholder value. The company stated the board is looking for a replacement for the independent director.