Key Board Approvals

The Board of Directors, in a meeting held from 11:35 AM to 12:45 PM (IST) on November 14, 2026, approved the following:

1. Audited Standalone and Consolidated Financial Results for the quarter and half year ended September 30, 2026.

2. Buyback of equity shares (face value ₹10 each) for an aggregate amount not exceeding ₹50,00,00,000 (Fifty Crores), subject to shareholder approval.

3. Appointment of M/s Jitender Navneet and Co. as Cost Auditor for FY 2026-27 to fill a casual vacancy, based on the Audit Committee's recommendation.

4. Notice of Postal Ballot for obtaining shareholder approval via remote e-voting.

Detailed Financial Results (Standalone)

Profit & Loss Statement (₹ Crore):

| Period | Revenue from Operations | Total Income | Total Expenses | PBT (Continuing) | PAT (Continuing) | PAT (Discontinued) | Total PAT |

| Q2 FY27 (Audited) | 993.15 | 995.62 | 956.40 | 39.22 | 26.62 | - | 26.62 |

| Q1 FY27 (Unaudited) | 939.55 | 940.50 | 956.65 | (16.15) | (12.14) | 50.54 | 38.40 |

| H1 FY27 (Audited) | 1,932.70 | 1,936.12 | 1,913.05 | 23.07 | 14.48 | 50.54 | 65.02 |

| H1 FY26 (Unaudited) | 1,579.33 | 1,594.28 | 1,624.02 | (29.74) | (19.76) | (15.14) | (34.90) |

| FY26 (Audited) | 2,953.93 | 2,984.15 | 2,933.71 | 50.44 | 31.26 | (6.29) | 24.97 |

Earnings Per Share (EPS) - Basic (₹):

  • From Continuing Operations (H1 FY27): 2.21
  • From Discontinued Operations (H1 FY27): 7.68
  • Total (H1 FY27): 10.03

Segment-Wise Revenue (H1 FY27 - ₹ Crore):

  • Sugar: 860.98
  • Bio Fuels & Spirits: 185.20
  • Country Liquor: 926.99

Detailed Financial Results (Consolidated)

Profit & Loss Statement (₹ Crore):

| Period | Revenue from Operations | Total Income | Total Expenses | PBT (Continuing) | PAT (Continuing) | PAT (Discontinued) | Total PAT |

| H1 FY27 (Audited) | 1,944.89 | 1,948.67 | 1,924.36 | 24.31 | 15.38 | 50.54 | 65.92 |

| H1 FY26 (Unaudited) | 1,573.48 | 1,588.42 | 1,622.00 | (33.58) | (22.85) | (15.14) | (37.99) |

| FY26 (Audited) | 2,981.17 | 3,012.25 | 2,961.20 | 51.05 | 31.47 | (6.29) | 25.18 |

Earnings Per Share (EPS) - Basic (₹):

  • From Continuing Operations (H1 FY27): 2.35
  • From Discontinued Operations (H1 FY27): 7.68
  • Total (H1 FY27): 10.03

Buyback Details (Annexure B)

The Board approved a proposal to buyback equity shares from public shareholders (excluding promoters/promoter group/persons in control).

  • Maximum Buyback Size: ₹50,00,00,000 (Fifty Crores)
  • Maximum Buyback Price: ₹200 per equity share
  • Indicative Maximum Number of Shares: 25,00,000 shares (3.76% of paid-up capital)
  • Minimum Buyback Size: ₹37,50,00,000 (75% of max size)
  • Mode: Open market through stock exchanges
  • The buyback is subject to shareholder approval by special resolution via postal ballot.

Pre-Buyback Shareholding Pattern (as of date):

  • Promoter & Promoter Group: 33,858,475 shares (51.00%)
  • Public: 31,754,732 shares (47.83%)
  • Employee Benefit Trust: 774,383 shares (1.17%)
  • Total: 66,387,590 shares (100.00%)

Appointment of Cost Auditor (Annexure C)

  • Firm Appointed: M/s Jitender Navneet and Co., Cost Accountants (FRN 000119)
  • Reason for Appointment: To fill a casual vacancy caused by the demise of the previous cost auditor, Late Mr. Surendra Rai Kapur.
  • Date of Appointment: November 14, 2026
  • Term: For the financial year 2026-27.

Other Material Disclosures

  • Sale of Undertaking: The company sold its Meerganj sugar unit (Bareilly, UP) on a slump sale basis for ₹305.00 crores on June 18, 2026. This resulted in a gain of ₹63.89 crores. The operations of this unit are classified as 'Discontinued Operations' in the financial statements.
  • Income Tax Action: During the previous year, the Income Tax Department conducted a search action u/s 132 on October 29, 2025. Without prejudice, the company offered an ad hoc amount of ₹4.30 crores as additional income in its return for the block period, including ₹0.53 crores accounted as other income in Q2 FY27. A consequent tax liability of ₹2.68 crores has been provided for in the current tax for H1 FY27. No orders/demand notices have been received yet. Management believes no material adverse adjustment is required.
  • ESOPs: The company has an active ESOP scheme (DBO Employee Stock Option Scheme 2025). The DBO Employee Welfare Trust holds 7,74,383 shares acquired from the market. An interest-free loan of ₹7.15 crores is outstanding to the Trust.