Key Quantitative Figures

Standalone Financial Results (Quarter Ended June 30, 2026):

  • Revenue from operations: ₹99.35 crore
  • Total income: ₹99.35 crore
  • Total expenses: ₹103.67 crore
  • Loss before tax: ₹(4.32) crore
  • Loss for the period: ₹(23.38) crore
  • Total comprehensive income: ₹(23.47) crore
  • Paid up equity share capital: ₹47.65 crore (Face Value ₹10 per share)
  • Basic EPS: ₹(0.91)

Consolidated Financial Results (Quarter Ended June 30, 2026):

  • Revenue from operations: ₹98.99 crore
  • Other income: ₹0.91 crore
  • Total income: ₹99.90 crore
  • Total expenses: ₹107.78 crore
  • Share of profit of joint venture: ₹17.03 crore
  • Profit before tax: ₹9.15 crore
  • Profit for the period: ₹9.15 crore
  • Total comprehensive income: ₹10.18 crore
  • Basic EPS: ₹1.92

Audit Qualifications:

  • Non-provision of interest on late payment of cane dues: ₹7.76 crore for sugar season 2025-26
  • Inventory overstatement due to NRV valuation instead of lower of cost and NRV: ₹10.63 crore

Dates of Action

  • Board meeting date: August 14, 2026 (commenced at 16:00, concluded at 16:16)
  • Resignation effective date: August 13, 2026 (Company Secretary Madhur Agarwal)
  • Financial period: Quarter ended June 30, 2026

Parties Involved

  • Stock exchange: BSE Limited
  • Statutory auditors: Doogar & Associates (Review auditor)
  • Cost auditors: M/s M.K. Singhal & Co. (FRN: 00074)
  • Subsidiaries: SBEC Stockholding and Investment Limited (wholly-owned), SBEC-Bio Energy Limited
  • Regulatory bodies: SEBI, Cane Commissioner (U.P.), Hon'ble Supreme Court, Hon'ble High Court of Judicature at Allahabad

Financial Impact

Explicitly Disclosed Impacts:

  • Non-provision of interest on cane dues: ₹7.76 crore (would increase expense and loss if provided)
  • Inventory valuation issue: ₹10.63 crore overstatement of inventories and understatement of loss
  • The matters described in audit qualifications have consequential impact on EPS

Contingent Exposure:

  • Interest on late payment of cane dues for years 2012-13, 2013-14 and 2014-15 (amount not quantified)
  • Pending decision from Cane Commissioner (U.P.) on waiver of interest under UP Sugar Cane Act, 1953

Capital Structure Impact

  • No change in paid-up equity share capital: ₹47.65 crore remains unchanged
  • Conversion of debentures into equity shares in wholly-owned subsidiary SBEC Stockholding and Investment Limited (details not quantified)

Board Decisions Approved

1. Un-Audited Financial Results (Standalone & Consolidated) for quarter ended June 30, 2026

2. Re-appointment of M/s M.K. Singhal & Co. as Cost Auditors for FY 2026-27

3. Taking note of resignation of Mr. Madhur Agarwal as Company Secretary cum compliance officer

4. Taking note of conversion of debentures in SBEC Stockholding and Investment Limited into equity shares

5. Approval of Notice & Directors Report for 32nd Annual General Meeting

Additional Contextual Information

  • The company operates in a seasonal industry where quarterly results may not reflect annual profitability
  • Legal matter sub-judice regarding interest waiver on cane dues since 2012-13 to 2014-15 seasons
  • Hon'ble Supreme Court upheld Hon'ble High Court order dated March 9, 2017 on April 23, 2018
  • Company has applied to Cane Commissioner (U.P.) for waiver of interest on cane dues
  • Figures for previous quarters have been regrouped/reclassified where necessary