Key Quantitative Figures

Standalone Financials (Year Ended March 31, 2026 vs March 31, 2025):

  • Revenue from operations: ₹1,564.16 crore (FY26) vs ₹1,445.09 crore (FY25)
  • Net profit before tax: ₹49.32 crore (FY26) vs ₹91.34 crore (FY25)
  • Total assets: ₹1,120.30 crore (FY26) vs ₹1,093.94 crore (FY25)
  • Total equity: ₹524.45 crore (FY26) vs ₹492.06 crore (FY25)
  • Inventories: ₹803.30 crore (Mar-26) vs ₹820.40 crore (Mar-25)
  • Borrowings: ₹419.50 crore (Mar-26) vs ₹418.13 crore (Mar-25)

Consolidated Financials (Year Ended March 31, 2026 vs March 31, 2025):

  • Revenue from operations: ₹1,570.94 crore (FY26) vs ₹1,446.49 crore (FY25)
  • Net profit before tax: ₹49.79 crore (FY26) vs ₹129.36 crore (FY25)
  • Total assets: ₹1,122.62 crore (FY26) vs ₹1,095.98 crore (FY25)
  • Total equity: ₹524.67 crore (FY26) vs ₹491.93 crore (FY25)

Segment Revenue (Standalone, FY26):

  • Sugar: ₹1,631.94 crore
  • Power: ₹252.89 crore
  • Distillery: ₹218.57 crore

Quarterly Performance (Q4 FY26 Standalone):

  • Revenue from operations: ₹372.74 crore
  • Net profit before tax: ₹84.26 crore
  • Segment results: Sugar ₹50.65 crore, Power ₹30.90 crore, Distillery ₹3.03 crore

Dates of Action

  • Board meeting date: May 23, 2026 (commenced at 12:30 PM, concluded at 1:25 PM)
  • Financial period ended: March 31, 2026
  • AGM date: July 4, 2026
  • Agreement extension: Six months from May 2026 for Gurugram plot purchase

Parties Involved

  • Statutory Auditors: S.R. Batliboi & Co. LLP
  • Cost Auditors: M/s Bahadur Murao & Co. (FRN:08)
  • Internal Auditors: M/s TRC Corporate Consulting Private Limited
  • Subsidiary: Mawana Foods Private Limited
  • Counterparty: Usha International Limited
  • Regulatory references: SEBI Listing Regulations 30 and 33, SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026

Purpose/Rationale

  • The board meeting was held to approve annual financial results and address various corporate matters
  • The extension for the Gurugram plot purchase was granted at the request of the seller (Usha International) to obtain transfer permission from HSVP

Financial Impact

  • Exceptional items: Reversal of ₹9.43 crore in both standalone and consolidated results for Q4 FY26 due to Labour Code reassessment
  • Differential power revenue recognition: ₹5.05 crore for period April 1, 2024 to September 30, 2025 due to UPERC tariff changes
  • Assets held for sale: ₹6.43 crore (two land parcels and buildings)

Capital Structure Impact

  • Equity share capital remained unchanged at ₹39.12 crore
  • Other equity increased to ₹485.33 crore (standalone) and ₹485.55 crore (consolidated) from ₹452.94 crore and ₹452.81 crore respectively

Cash Flow Implications

  • Net cash from operating activities: ₹75.67 crore (standalone FY26) vs ₹114.13 crore (standalone FY25)
  • Cash used in investing activities: ₹(30.92) crore (standalone FY26) vs ₹88.42 crore (standalone FY25)
  • Cash used in financing activities: ₹(24.90) crore (standalone FY26) vs ₹(206.43) crore (standalone FY25)
  • Cash and cash equivalents: ₹25.95 crore (Mar-26) vs ₹6.10 crore (Mar-25)

Notes on Comparability

Figures for FY25 are not fully comparable due to:

  • Sale of shareholding in Siel IE and Siel IED resulting in net gain of ₹22.99 crore (standalone) and ₹62.70 crore (consolidated)
  • Purchase of remaining stake in Mawana Foods Private Limited resulting in additional impairment provision of ₹1.60 crore and loss on fair valuation of ₹1.42 crore
  • Acquisition of 'MAWANA' brand for ₹5.75 crore plus GST
  • Receipt of Arbitration Award of ₹2.20 crore

Other Material Information

  • Scheme of Arrangement for amalgamation of Mawana Foods Private Limited with Mawana Sugars Limited pending NCLT approval
  • Labour Codes implementation effective from November 21, 2025 impacted financial results
  • Sugar and power business segments are seasonal in nature
  • Auditors provided unmodified opinion on both standalone and consolidated financial results