Board Meeting Details

The Board of Directors meeting was held on November 13, 2026, commencing at 3:15 PM and concluding at 3:40 PM. The Board approved:

1. Un-Audited Financial Results (Standalone & Consolidated) for quarter and half year ended September 30, 2026 along with Limited Review Report under Regulations 33(3)(d) of SEBI LODR

2. Appointment of Company Secretary and Compliance Officer (intimation already filed on BSE dated November 11, 2026)

3. Authorization of Key Managerial Personnel to determine materiality of events/information

Key Managerial Personnel Authorized for Materiality

  • MR. A. K. GOEL - Chief Financial Officer (Contact: 011-42504698, Email: akgoel@bsil.org.in)
  • Mr. ALOK KUMAR - Company Secretary and Compliance Officer (Contact: 011-42504878, Email: investors@sbecsugar.com)
  • MR. VIPIN KUMAR - Whole Time Director (Contact: 01234-239203, Email: vipinkumar@sbecsugar.com)

Standalone Financial Performance (Rs. in Lakhs)

Quarter Ended September 30, 2026

  • Revenue from operations: ₹15,102.97
  • Other income: ₹5.23
  • Total income: ₹15,108.20
  • Total expenses: ₹17,260.01
  • Loss before tax: ₹(2,151.81)
  • Tax expense: ₹0.00
  • Net loss: ₹(2,151.81)
  • Other comprehensive income: ₹15.53
  • Total comprehensive income: ₹(2,136.28)
  • Basic EPS: ₹(4.52)
  • Diluted EPS: ₹(4.52)

Half Year Ended September 30, 2026

  • Revenue from operations: ₹24,979.55
  • Other income: ₹6.375
  • Total income: ₹25,043.29
  • Total expenses: ₹31,507.28
  • Loss before tax: ₹(6,463.99)
  • Tax expense: ₹0.00
  • Net loss: ₹(6,463.99)
  • Other comprehensive income: ₹(17.56)
  • Total comprehensive income: ₹(6,481.55)
  • Basic EPS: ₹(13.56)
  • Diluted EPS: ₹(13.56)

Consolidated Financial Performance (Rs. in Lakhs)

Quarter Ended September 30, 2026

  • Revenue from operations: ₹15,102.97
  • Other income: ₹32.81
  • Total income: ₹15,135.77
  • Total expenses: ₹17,622.15
  • Loss before exceptional items and tax: ₹(2,486.37)
  • Exceptional items: ₹0.00
  • Share of Profit of Joint Venture: ₹2,001.54
  • Profit before tax: ₹(484.84)
  • Tax expense: ₹0.00
  • Net loss: ₹(484.84)
  • Other comprehensive income: ₹264.06
  • Total comprehensive income: ₹(220.77)
  • Basic EPS: ₹(1.02)
  • Diluted EPS: ₹(1.02)

Half Year Ended September 30, 2026

  • Revenue from operations: ₹25,002.53
  • Other income: ₹123.60
  • Total income: ₹25,126.13
  • Total expenses: ₹32,400.20
  • Loss before exceptional items and tax: ₹(7,274.07)
  • Exceptional items: ₹0.00
  • Share of Profit of Joint Venture: ₹3,704.59
  • Profit before tax: ₹430.52
  • Tax expense: ₹0.00
  • Net profit: ₹430.52
  • Other comprehensive income: ₹366.40
  • Total comprehensive income: ₹796.92
  • Basic EPS: ₹0.90
  • Diluted EPS: ₹0.90

Auditor's Qualified Conclusion

Doogar & Associates issued qualified review reports for both standalone and consolidated results citing:

1. Non-provision of interest on late payment of cane dues amounting to ₹229.95 lakhs for Q2 and ₹1,006.10 lakhs for H1 FY27 for sugar season 2025-26

2. Inventory valuation at NRV instead of lower of cost and NRV as required under IND AS-2, resulting in overstatement of inventories by ₹221.49 lakhs and understatement of loss by same amount

Emphasis of Matter

Auditors highlighted pending litigation regarding interest on cane dues for years 2012-13, 2013-14 and 2014-15. The Hon'ble Supreme Court upheld the Hon'ble High Court order dated March 9, 2017, which set aside the State Government's decision for interest waiver and asked Cane Commissioner to take final call. The company has applied for interest waiver under UP Sugar Cane Act, 1953 and will account for it upon decision/payment.

Subsidiaries Information

The consolidated results include:

  • SBEC-Bio Energy Limited
  • SBEC Stock Holding & Investment Limited

Total assets of subsidiaries: ₹44,229.83 lakhs as at September 30, 2026

Seasonal Nature Disclosure

Due to seasonal nature of sugar industry, quarterly/half-yearly results may not reflect annual profitability and may not be strictly comparable.

Cane Dues Status

In pursuance of Hon'ble Allahabad High Court order dated July 21, 2025, local authorities held meetings with management and company has made full payment of cane dues for crushing seasons 2024-25 & 2025-26 with no cane dues outstanding.

Capital Structure

Paid-up equity share capital: ₹4,765.39 lakhs (Face value ₹10 per share) remained unchanged during the period.

Cash Flow Highlights (Standalone, H1 FY27)

  • Cash from operations: ₹(4,920.89) lakhs
  • Cash from investing: ₹23.37 lakhs
  • Cash from financing: ₹5,088.95 lakhs
  • Net cash increase: ₹191.43 lakhs
  • Cash equivalents at end: ₹333.96 lakhs

Assets and Liabilities Position (Standalone)

As at September 30, 2026

  • Total assets: ₹31,238.59 lakhs (vs ₹61,116.42 lakhs as at March 31, 2026)
  • Inventories: ₹3,674.56 lakhs
  • Trade receivables: ₹572.56 lakhs
  • Cash and cash equivalents: ₹333.95 lakhs
  • Borrowings (current): ₹31,746.00 lakhs
  • Trade payables: ₹1,136.18 lakhs
  • Other financial liabilities: ₹4,421.67 lakhs