Company Response to NSE Queries

Date and Nature of Exchange Communication

Simbhaoli Sugars Limited responded to clarification queries raised by the National Stock Exchange of India Limited via email dated June 23, 2026. The queries concerned the company's announcement made on May 29, 2026, regarding the "Outcome of IRP Convened Meeting."

Clarification on Consolidated Financial Results Delay

The company confirmed it has not submitted Consolidated Financial Results for the period ended March 31, 2026. The delay is attributed to several factors:

  • The company considered only standalone financials in the May 29, 2026 meeting as subsidiary financials were not received by that date
  • The company is currently undergoing Corporate Insolvency Resolution Process (CIRP)
  • Attrition of experienced personnel during the CIRP period has impacted timely collection, verification and consolidation of financial statements
  • The company is in the process of obtaining and validating financial information, reconciling inter-company balances and transactions, and completing year-end consolidation
  • The delay is described as purely procedural due to additional time required for finalization of consolidated financial statements
  • The company is making efforts to submit Consolidated Financial Results for the quarter and year ended March 31, 2026 at the earliest

Clarification on XBRL Filing Discrepancies

a) EPS Mismatch Between XBRL and PDF

  • The Earnings Per Share (EPS) figures disclosed in the PDF attachment to the May 29, 2026 announcement are correct and require no modification
  • The discrepancy in the XBRL filing occurred due to human error during data entry while preparing the XBRL submission
  • The company has corrected this by filing revised XBRL with the correct EPS figure of 1.56

b) Missing Statement on Impact of Audit Qualifications in XBRL

  • The Statement on Impact of Audit Qualification was disclosed in the PDF announcement but was missed in the XBRL filing
  • The omission occurred due to oversight in selecting Point no 30 in General Tab ("Declaration of Unmodified Opinion or Statement on Impact of Audit Qualification")
  • The XBRL file validated without showing any error during the preparation/uploading process
  • The omission was described as unintentional and did not affect the financial information in the PDF version
  • The company has submitted revised XBRL filing by selecting Point no 30 in General Tab and including the requisite statement

Regulatory Compliance and Current Status

The company acknowledges the errors and assures the Exchange that necessary care and additional checks will be exercised in future filings to avoid recurrence. The company is currently undergoing Corporate Insolvency Resolution Process pursuant to the Insolvency and Bankruptcy Code, 2016 effective from July 11, 2024. The powers of the Board of Directors stand suspended, and Mr. Anurag Goel (IBBI/IPA-001/IP-P-00876/2017-18/11460) serves as Interim Resolution Professional. The company's CIRP process is currently under stay vide order dated July 24, 2024, by the Hon'ble National Company Law Appellate Tribunal, New Delhi.

Topic Tags: Regulatory Response, Financial Results Clarification, XBRL Filing Correction, Corporate Insolvency Resolution Process, Compliance Disclosure