KRBL Limited (KRBL) Investor update summary

Governance and independent review

• Independent director Anil Kumar Chaudhary resigned effective September 8, 2025; management said his concerns focused on board processes, not financial or legal compliance.

• Independent directors and the board met on September 15; an independent third-party firm is to review the observations within 30 days and report to board committees.

• Management said it is searching for a replacement independent director and will seek to fill the vacancy as early as possible.

• Management said the resignation letter’s review caused a 3–5-day reporting delay; it will await the independent review before commenting on possible legal action.

Export receivable write-off

• FY2025 annual report disclosed a ~₹58 crore write-off of export receivables from FY2023 shipments to an African customer that was not a related party.

• The February 2023 contract covered ~23,000 tonnes of non-basmati rice for ~₹79 crore; ~₹17 crore was paid upfront and the remaining ₹62 crore was due August 7, 2023.

• After ~₹6 crore in subsequent receipts, including the last payment in April 2024, no further payments followed; an ~₹18 crore expected-credit-loss provision was recorded across FY2024 and FY2025.

• With authorized-dealer bank authorization under FEMA and RBI export directions, ~₹58 crore was written off in FY2025, leaving nil outstanding at March 31, 2025; arbitration and a collection firm are under consideration.

CSR spending

• ~₹40 crore was spent on CSR over the past three years, including current-year-to-date; unspent balance, including the current-year obligation, was ₹37 crore.

• Unspent funds are planned for phased use in ongoing projects; management described due diligence, utilization certificates, impact assessments, and CSR committee approval and monitoring.