Standalone Financial Results (Amounts in INR Millions)

Income Statement Highlights:

  • Q2 FY27 (3 months ended Sep 30, 2026): Revenue from operations: INR 17,787; Total Income: INR 19,842; Loss before tax: INR (1,767); Net loss: INR (1,767)
  • H1 FY27 (6 months ended Sep 30, 2026): Revenue from operations: INR 37,484; Total Income: INR 37,828; Loss before tax: INR (4,577); Net loss: INR (4,577)
  • Comparative Q2 FY26: Revenue from operations: INR 23,895; Loss before tax: INR (3,495); Net loss: INR (3,495)

Key Financial Metrics:

  • Earnings per share (Basic & Diluted): Q2 FY27: INR (1.78); H1 FY27: INR (2.51)
  • Paid-up equity share capital: INR 2,128 million (Face value Re.1/- each)
  • Reserves excluding revaluation reserve: Negative INR 20,195 million (as per previous accounting year)
  • Total comprehensive loss: Q2 FY27: INR (1,512); H1 FY27: INR (3,997)

Consolidated Financial Results (Amounts in INR Millions)

Income Statement Highlights:

  • Q2 FY27: Revenue from operations: INR 19,050; Total Income: INR 19,213; Loss before tax: INR (2,019); Net loss: INR (1,939)
  • H1 FY27: Revenue from operations: INR 40,252; Total Income: INR 40,526; Loss before tax: INR (5,178); Net loss: INR (4,454)
  • Net loss attributable to equity holders: Q2 FY27: INR (1,933); H1 FY27: INR (4,444)

Key Financial Metrics:

  • Earnings per share (Basic & Diluted): Q2 FY27: INR (0.91); H1 FY27: INR (2.09)
  • Paid-up equity share capital: INR 2,128 million
  • Reserves excluding revaluation reserve: Negative INR 35,371 million (as per previous accounting year)

Segment Performance (Standalone)

Revenue Breakdown Q2 FY27:

  • Sugar - milling: INR 2,777
  • Sugar - refinery: INR 12,979
  • Distillery: INR 1,996
  • Co-generation: INR 31
  • Other: INR 37

Segment Results Q2 FY27 (Loss before tax, finance cost, etc.):

  • Sugar - milling: INR (246)
  • Sugar - refinery: INR 633
  • Distillery: INR (86)
  • Co-generation: INR (235)
  • Other: INR 16

Balance Sheet Position (Standalone as at Sep 30, 2026)

Assets: INR 64,392 million

  • Non-current assets: INR 41,736 million
  • Current assets: INR 22,656 million
  • Inventories: INR 17,743 million
  • Cash and cash equivalents: INR 194 million

Liabilities & Equity:

  • Total equity: Negative INR 16,452 million
  • Non-current liabilities: INR 33,564 million
  • Current liabilities: INR 47,280 million
  • Borrowings: INR 53,191 million (Current: INR 20,173 million; Non-current: INR 33,018 million)

Cash Flow Statement (Standalone H1 FY27)

  • Net cash from operating activities: INR 5,524 million
  • Net cash used in investing activities: INR (113) million
  • Net cash used in financing activities: INR (5,514) million
  • Net decrease in cash: INR (103) million

Critical Financial Condition Disclosure

The Company disclosed that as at September 30, 2026:

  • Current liabilities exceed current assets by INR 24,624 million (standalone)
  • Loss before tax of INR 1,767 million for Q2 and INR 4,577 million for H1 (standalone)
  • Negative net worth of INR 16,452 million (standalone)
  • Negative net worth of INR 31,335 million (consolidated)

Going Concern Basis

The financial results are prepared on a going concern basis based on:

  • Corporate guarantees provided by ultimate Holding Company Wilmar International Limited for long-term loans and ECBs
  • Letter of comfort from Wilmar International for working capital loans of INR 15,617 million
  • Letter of support from Holding Company Wilmar Sugar and Energy Pte Ltd. to meet working capital shortfalls

Additional Information

  • Some business segments are seasonal in nature
  • Company uses commodity derivative instruments for risk management
  • Revaluation reserve as at March 31, 2026: INR 5,612 million (standalone), INR 6,476 million (consolidated)