Key Decisions and Approvals

1. Financial Results Approval: The Board considered and approved the Audited Financial Results (Standalone and Consolidated) for the quarter and year ended 31 March 2026. The Statutory Auditors, V. Sankar Aiyar & Co. (ICAI Firm Regn No. 109208W), issued unmodified audit opinions on both standalone and consolidated results. A declaration from the CFO confirming the unmodified opinion was also provided.

2. Dividend Declarations:

  • Interim Dividend: Declared interim dividend at a proportionate rate of 3.70% (₹0.370137 per share) on Unlisted 7% Non-Convertible Redeemable Preference Shares (NCRPS) of ₹10 each for the period from 20 September 2025 to 31 March 2026.
  • Final Dividend: Recommended a final dividend of 10% (Re. 1 per equity share) on Equity Shares of ₹10 each, subject to approval by members at the forthcoming Annual General Meeting.

3. Management Re-appointment: Approved the re-appointment of Mr. Alok Saxena (DIN: 08640419) as Whole Time Director and Key Managerial Personnel designated as Executive Director for a period of two consecutive years from 1 July 2026 to 30 June 2028, based on the recommendation of the Nomination and Remuneration Committee and subject to member approval. Mr. Saxena confirmed he has not been debarred from holding the office of Director by any SEBI Order or other Authority.

4. Registered Office Shift: Approved shifting the Registered Office within the State of Goa from "Jai Kisaan Bhawan, Zuarinagar, Goa – 403726" to "Jai Kisaan Club, Jalvayu Colony Road, Near MES College, Zuarinagar, Sancoale, Goa – 403726", effective 25 May 2026. This shift is within the same city and jurisdiction of the existing Registrar of Companies, Goa. The prior shareholder approval obtained on 24 September 2025 for shifting the Registered Office from Goa to Haryana remains valid and unaffected.

Financial Results Highlights (Standalone)

  • Quarter ended 31-Mar-26: Total Income ₹26,733.62 lakhs; Profit before tax ₹2,641.91 lakhs; Profit for the period ₹1,790.90 lakhs; EPS ₹6.01 (basic and diluted).
  • Year ended 31-Mar-26: Total Income ₹99,489.81 lakhs; Profit before tax ₹2,436.41 lakhs; Profit for the year ₹1,214.38 lakhs; EPS ₹4.08 (basic and diluted).
  • Other Comprehensive Income for the year stood at a loss of ₹102,218.86 lakhs, leading to a Total Comprehensive Income loss of ₹101,004.48 lakhs for the year.
  • Paid-up equity share capital remained constant at ₹2,978.17 lakhs (face value ₹10 each).

Financial Results Highlights (Consolidated)

  • Quarter ended 31-Mar-26: Net Loss of ₹3,161.00 lakhs.
  • Year ended 31-Mar-26: Net Profit of ₹10,578.21 lakhs.
  • Segment-wise revenue for the year included Sugar and allied products (₹85,469.95 lakhs), Power (₹9,150.01 lakhs), Ethanol plant (₹23,409.43 lakhs), Real estate (₹2,505.74 lakhs), Management services (₹3,709.29 lakhs), Financial services (₹2,792.39 lakhs), Engineering services (₹8,402.74 lakhs), and Furniture (₹91.25 lakhs).
  • Total consolidated assets as of 31-Mar-26 were ₹7,16,351.44 lakhs.

Exceptional Items

Standalone:

  • Impairment of investments in Indian Furniture Products Limited (IFPL) and Zuari Furniture Limited totaling ₹626.10 lakhs for the quarter and ₹2,255.90 lakhs for the year.
  • Settlement of an insurance claim related to a boiler accident in the sugar factory resulted in an exceptional loss of ₹697.89 lakhs (recognized in previous quarters).
  • Statutory impact of the New Labour Codes resulted in a gain of ₹261.57 lakhs for the quarter and a gain of ₹19.29 lakhs for the year.

Consolidated:

  • Statutory impact of New Labour Codes resulted in a gain of ₹380.52 lakhs for the quarter and a gain of ₹231.52 lakhs for the year.
  • Settlement of the insurance claim resulted in a loss of ₹697.89 lakhs for the year.
  • Recognition of Zuari Furniture Limited as a subsidiary in a previous period resulted in a loss of ₹1,974.33 lakhs (prior year).

Other Key Notes

  • The sugar business is seasonal, with crushing from October to May, leading to quarterly performance variations.
  • A demand for ₹507.17 lakhs in import/export pass fees on denatured alcohol from Uttar Pradesh Excise authorities is under legal challenge; no provision has been made as the company believes the demand is not tenable.
  • The UPERC's Captive and Renewable Energy Regulation, 2024, implemented retrospectively from 1 April 2024, led to recognition of differential revenue of ₹632.29 lakhs in the Power segment during the quarter ended 30 September 2025.
  • The Board meeting commenced at 2:30 PM and concluded at 4:08 PM on 25 May 2026.

Enclosures

  • Annexure A: Audited Financial Results (Standalone and Consolidated) and Statutory Auditors' Reports.
  • Annexure B: Details required under Regulation 30 for the re-appointment of Mr. Alok Saxena.
  • Declaration from CFO pursuant to Regulation 33(3)(d) confirming unmodified audit opinion.