Riga Sugar Co Ltd, a wholly owned subsidiary of Nirani Sugars Limited, held its Board of Directors meeting on November 07, 2026, which commenced at 01:00 pm and concluded at 01:28 pm. The meeting was conducted pursuant to Regulation 30 read with Regulation 33 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Board of Directors, on the recommendation of the Audit Committee, considered and approved the Unaudited Standalone Financial Results of the Company for the quarter and half year ended September 30, 2026. The financial results were reviewed by the statutory auditors, M/s YCRJ & Associates, Chartered Accountants (Firm Registration No. 0069275), who issued an unmodified conclusion on the said results.

Financial Performance Highlights

Quarter Ended September 30, 2026 (Q2 FY27):

  • Revenue from operations: ₹975.24 lakhs
  • Total expenses: ₹1,786.41 lakhs
  • Loss before tax: ₹(811.17) lakhs
  • Tax expense: ₹37.13 lakhs (deferred tax)
  • Net loss: ₹(848.30) lakhs
  • Earnings per share (basic and diluted): ₹(5.87)

Half-Year Ended September 30, 2026 (H1 FY27):

  • Revenue from operations: ₹3,910.49 lakhs
  • Total expenses: ₹5,368.04 lakhs
  • Loss before tax: ₹(1,457.55) lakhs
  • Tax expense: ₹45.68 lakhs (deferred tax)
  • Net loss: ₹(1,503.23) lakhs
  • Total comprehensive income: ₹(1,503.36) lakhs
  • Earnings per share (basic and diluted): ₹(10.41)

Balance Sheet Position (as at September 30, 2026)

Assets:

  • Total assets: ₹3,592.38 lakhs (compared to ₹3,914.03 lakhs as at March 31, 2026)
  • Non-current assets: ₹3,111.58 lakhs, including:
  • Property, plant and equipment: ₹2,791.18 lakhs
  • Intangible assets: ₹1.75 lakhs
  • Capital work in progress: ₹21.44 lakhs
  • Deferred tax assets (net): ₹297.20 lakhs
  • Current assets: ₹480.81 lakhs, including:
  • Inventories: ₹392.06 lakhs
  • Cash and cash equivalents: ₹0.27 lakhs
  • Other current assets: ₹88.48 lakhs

Equity and Liabilities:

  • Total equity: ₹2,507.10 lakhs (compared to ₹2,657.42 lakhs as at March 31, 2026)
  • Equity share capital: ₹144.43 lakhs (unchanged)
  • Other equity: ₹2,362.66 lakhs
  • Non-current liabilities: ₹0.89 lakhs (provisions)
  • Current liabilities: ₹1,084.40 lakhs, including:
  • Short-term borrowings: ₹813.50 lakhs
  • Trade payables: ₹256.21 lakhs
  • Other current liabilities: ₹14.68 lakhs

Cash Flow Statement (Half-Year Ended September 30, 2026)

  • Net cash flow from operating activities: ₹28.54 lakhs
  • Net cash used in investing activities: ₹(34.51) lakhs
  • Net cash from financing activities: ₹1.65 lakhs
  • Net decrease in cash and cash equivalents: ₹(4.33) lakhs
  • Cash and cash equivalents at beginning of period: ₹4.59 lakhs
  • Cash and cash equivalents at end of period: ₹0.27 lakhs

Comparative Performance

Quarterly Comparison:

  • Q2 FY27 revenue: ₹975.24 lakhs vs Q1 FY27: ₹2,935.25 lakhs
  • Q2 FY27 net loss: ₹(848.30) lakhs vs Q1 FY27: ₹(654.93) lakhs

Year-over-Year Comparison (Quarter):

  • Q2 FY27 revenue: ₹975.24 lakhs vs Q2 FY25: Nil
  • Q2 FY27 net loss: ₹(848.30) lakhs vs Q2 FY25: ₹(453.98) lakhs

Half-Year Comparison:

  • H1 FY27 revenue: ₹3,910.49 lakhs vs H1 FY25: ₹632.92 lakhs
  • H1 FY27 net loss: ₹(1,503.23) lakhs vs H1 FY25: ₹(329.00) lakhs

Additional Information

The financial results have been prepared in accordance with Indian Accounting Standard 34 (Ind AS 34) and the recognition and measurement principles laid down in the applicable Indian Accounting Standards. The limited review was conducted in accordance with Standard on Review Engagements (SRE) 2410 issued by the Institute of Chartered Accountants of India.

The company's registered office is located at 14 Netaji Subhas Road, 2nd Floor, PS Hare Street, Kolkata, West Bengal, 700001, and its corporate office is at #S-904, 9th Floor, World Trade Centre, Brigade Gateway Campus, Rajajinagar, Karnataka, 560055.