Peshwa Wheat bought Rs 75.75 crore from Peshwa Nutrition

Peshwa Wheat Limited, referred to here as Peshwa Wheat, reported Rs 75.75 crore of purchases from related party Peshwa Nutrition Private Limited in the year ended March 31, 2026. Peshwa Wheat also reported a Rs 6.90 crore unsecured-loan balance with Peshwa Nutrition at that date, unchanged from March 31, 2025.

How large were Peshwa Wheat's purchases from Peshwa Nutrition?

Peshwa Wheat bought Rs 75.75 crore of goods from Peshwa Nutrition in the year ended March 31, 2026, making this the largest individual related-party transaction disclosed in its Accounting Standard 18, or AS 18, related-party schedule. AS 18 requires disclosure of transactions and balances with parties related to the company. The purchase figure represents Rs 7,575.46 lakh in the restated financial information.

Purchases from Peshwa Nutrition declined by Rs 10.95 crore, or 10.56%, from Rs 84.70 crore in the year ended March 31, 2025. The disclosed amount had risen from Rs 8.47 crore in the period ended March 31, 2024 and Rs 4.73 crore in the period ended December 25, 2023. The schedule does not disclose Peshwa Wheat's total purchases from all suppliers, so it does not permit calculation of Peshwa Nutrition's share of overall procurement.

The disclosure identifies Peshwa Nutrition as a related party and records purchases separately from outstanding trade payables, vendor advances and loans. That distinction matters because Rs 75.75 crore is a flow of goods bought during the year ended March 31, 2026, while the balance-sheet figures at that date measure amounts outstanding at a particular date. The supplied disclosure does not state the wheat, flour or other product categories covered by these purchases.

What was Peshwa Wheat's loan exposure to Peshwa Nutrition?

Peshwa Wheat carried a Rs 6.90 crore unsecured loan from Peshwa Nutrition at March 31, 2026, the same balance reported at March 31, 2025. The related-party transaction schedule records no new unsecured loan taken from Peshwa Nutrition in either the year ended March 31, 2026 or the year ended March 31, 2025. The unchanged balance shows that the recorded amount remained outstanding across the two reporting dates.

The Rs 6.90 crore Peshwa Nutrition loan represented 29.07% of Peshwa Wheat's Rs 23.74 crore total borrowings in its pre-issue capitalisation statement. The same statement reported Rs 23.09 crore of short-term borrowings and Rs 64.96 lakh of long-term borrowings, including current maturities. Peshwa Wheat defines short-term borrowings as borrowings repayable within 12 months from the balance-sheet date.

Peshwa Nutrition was not the only related-party lender at March 31, 2026. Peshwa Wheat disclosed unsecured loan balances of Rs 2.98 crore from Rahat Ali, Rs 6.00 crore from Shehnaj and Rs 4.11 crore from Peshwa Bakers, alongside the Rs 6.90 crore balance from Peshwa Nutrition. These four balances totalled Rs 19.98 crore, although the supplied data do not identify how those related-party loans overlap with the company-wide borrowing categories in the capitalisation statement.

How did Peshwa Wheat's other related-party dealings change?

Peshwa Wheat's sales to Peshwa Bakers rose to Rs 9.58 crore in the year ended March 31, 2026 from Rs 8.46 crore in the year ended March 31, 2025, an increase of Rs 1.12 crore. Sales to Peshwa Bakers were Rs 63.74 lakh in the period ended March 31, 2024 and Rs 60.04 lakh in the period ended December 25, 2023. Peshwa Bakers is listed as a promoter-group related party in the schedule.

The trade receivable from Peshwa Bakers increased to Rs 3.95 crore at March 31, 2026 from Rs 2.81 crore a year earlier. This balance is separate from the sales figure because a trade receivable is an amount owed at the reporting date, rather than the value of all sales during the year. The receivable was Rs 71.83 lakh at March 31, 2024 and Rs 60.04 lakh at December 25, 2023.

Peshwa Wheat's commercial balance with Peshwa Nutrition also changed outside the loan account. Its advance to Peshwa Nutrition, shown under advances to vendors, fell to Rs 2.96 lakh at March 31, 2026 from Rs 2.88 crore at March 31, 2025. Trade payables to Peshwa Nutrition were nil at both March 31, 2026 and March 31, 2025, compared with Rs 26.15 lakh at March 31, 2024.

What do Peshwa Wheat's disclosures establish and not establish?

Peshwa Wheat's disclosure establishes the reported values of purchases, sales, loans and year-end balances with listed related parties, but it does not disclose purchase pricing, credit terms, loan interest rates, repayment schedules or security conditions. The company states that related parties under AS 18 were identified using management representations and information available with Peshwa Wheat. The supplied schedule therefore quantifies transactions but does not assess whether their terms matched those available from unrelated parties.

The wider restated accounts show profit after tax of Rs 15.81 crore for the year ended March 31, 2026, up from Rs 11.84 crore a year earlier, while net worth increased to Rs 43.06 crore from Rs 27.26 crore. Earnings before interest, taxes, depreciation and amortisation, or EBITDA, rose to Rs 22.73 crore from Rs 18.05 crore, while EBITDA margin was nearly unchanged at 10.53% from 10.52%. Those figures show a larger reported earnings and equity base alongside the related-party procurement and funding balances.

Peshwa Wheat's additional notes also say that, at March 31, 2026, it had no loans or advances in the nature of loans granted to promoters, directors, key managerial personnel or their related parties that were repayable on demand or lacked specified repayment terms. The same notes state that Peshwa Wheat had not received funds with an understanding that it would lend, invest, guarantee or provide security to ultimate beneficiaries identified by a funding party. These statements concern specific fund-routing and company-to-related-party loan conditions; they do not remove the disclosed Rs 6.90 crore unsecured borrowing from Peshwa Nutrition.

Conclusion

Peshwa Wheat's year ended March 31, 2026 schedule records procurement from Peshwa Nutrition alongside an outstanding unsecured loan, while sales and receivables with Peshwa Bakers also increased. The Rs 10.95 crore fall in purchases from Peshwa Nutrition did not alter its Rs 6.90 crore loan balance, and the company reported Rs 23.74 crore of total pre-issue borrowings.

The next related-party disclosure will show whether Peshwa Wheat repays, replaces or retains the Rs 6.90 crore Peshwa Nutrition loan and whether purchases continue to decline after the year ended March 31, 2026. The supplied information discloses neither a repayment plan nor loan terms, and it does not provide total procurement spending needed to measure Peshwa Nutrition's share of all purchases.