Key Financial Figures (Rs. in Lakhs)

Profit & Loss Statement (Year Ended 31/03/2026)

  • Total Income: ₹31,642.59
  • Revenue from Operations: ₹30,449.72
  • Other Income: ₹1,192.87
  • Total Expenses: ₹36,483.50
  • Cost of Materials Consumed: ₹23,588.44
  • Employee Benefits Expense: ₹3,240.06
  • Finance Costs: ₹1,425.09
  • Depreciation and Amortization: ₹2,315.54
  • Loss Before Tax: (₹4,840.91)
  • Net Loss After Tax: (₹4,840.91)
  • Total Comprehensive Income: (₹4,673.71)
  • Paid-up Equity Share Capital: ₹1,007.97 (Face Value of ₹1/- each)
  • Other Equity: (₹18,846.53)
  • Earnings Per Share (Basic & Diluted): (₹4.80)

Quarterly Performance (Rs. in Lakhs)

Quarter Ended 31/03/2026 (Audited)

  • Total Income: ₹17,629.79
  • Net Loss: (₹733.72)
  • EPS: (₹0.73)

Quarter Ended 31/12/2025 (Unaudited)

  • Total Income: ₹10,433.06
  • Net Loss: (₹622.60)
  • EPS: (₹0.62)

Quarter Ended 31/03/2025 (Audited)

  • Total Income: ₹6,361.87
  • Net Loss: (₹1,636.39)
  • EPS: (₹16.24)

Segment-wise Performance (Year Ended 31/03/2026)

  • Sugar Segment Revenue: ₹6,370.14 Lakhs; Segment Result: (₹2,970.36) Lakhs
  • Cogen Segment Revenue: ₹16.99 Lakhs; Segment Result: ₹935.42 Lakhs
  • Spirits Segment Revenue: ₹37,273.83 Lakhs; Segment Result: (₹765.00) Lakhs
  • Total Segment Result: (₹2,799.94) Lakhs

Statement of Assets and Liabilities (As at 31-03-2026)

  • Total Assets: ₹45,324.22 Lakhs
  • Non-Current Assets: ₹42,896.20 Lakhs (Property, Plant & Equipment: ₹42,339.89 Lakhs)
  • Current Assets: ₹2,428.02 Lakhs (Inventories: ₹403.49 Lakhs; Cash & Cash Equivalents: ₹426.02 Lakhs)
  • Total Equity and Liabilities: ₹45,324.22 Lakhs
  • Total Equity: ₹7,201.24 Lakhs (Equity Share Capital: ₹1,007.97 Lakhs; Other Equity: ₹6,193.27 Lakhs)
  • Non-Current Liabilities: ₹5,258.53 Lakhs
  • Current Liabilities: ₹32,864.45 Lakhs (Borrowings: ₹750.00 Lakhs; Trade Payables: ₹17,579.50 Lakhs)

Notes to Financial Results

1. Seasonality: Due to the seasonal nature of the business, the performance of the current quarter and previous quarter is not comparable.

2. Going Concern: The company's net worth has completely eroded due to accumulated losses, attributed to high sugarcane prices and unviable sugar prices. Management believes the company remains a going concern based on expectations of government support (improving sugarcane MSP and power rates), efforts to find an investor, and plans to monetize non-operating assets.

3. Figure Compilation: The figures for the quarters ended March 31, 2026, and March 31, 2025, are balancing figures between the audited full-year results and the published year-to-date figures up to the third quarter.

4. Audit Review: The results were reviewed by the Audit Committee and approved by the Board on May 29, 2026, and reviewed by Statutory Auditors.

5. Stock Split: Effective September 18, 2025, the company split the face value of its equity shares from ₹10 to ₹1. Consequently, the number of shares increased from 1,00,79,682 to 10,07,96,820. All EPS figures are calculated based on the new face value of ₹1.

6. NCLT Petition: The company has defaulted on a term loan from the Sugar Development Fund (SDF) for its cogeneration plant. SDF, through IFCI Ltd., has filed a petition under Section 7 of the IBC at the NCLT, Mumbai, claiming ₹6,970.54 Lakhs. The petition is not yet admitted; the company has filed a reply. The next hearing is on June 5, 2026. The company has filed an OTS proposal with SDF and is hopeful of its approval.

7. Labour Codes: The company recognized a one-time expense of ₹159.36 Lakhs towards an increased gratuity liability due to the new Labour Codes notified on November 21, 2025.

Declaration

A declaration from CFO Sharat Mishra confirms the auditors have submitted a report with an unmodified opinion on the FY26 financial results.