Board approves Q2 and H1 results; consolidated loss after tax Rs. (1,524.06) Lakhs for the quarter
Board met on November 4, 2026 (4:00 PM to 6:55 PM) and approved the unaudited consolidated and standalone results for the quarter and half year ended September 30, 2026.
By ScoutQuest · · 2 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 54,924.08 | 43,075.08 | +27.5% | 55,787.70 | −1.5% |
| Total income | 54,976.62 | 43,427.00 | +26.6% | 55,992.53 | −1.8% |
| Profit before tax | (1,974.53) | (5,690.10) | +65.3% | (2,584.61) | +23.6% |
| Profit after tax | (1,524.06) | (4,159.24) | +63.4% | (1,931.96) | +21.1% |
| Total comprehensive income | (1,646.99) | (4,231.81) | +61.1% | (1,865.48) | +11.7% |
| Basic EPS | (2.98) | (8.13) | +63.3% | (3.78) | +21.2% |
- Profit after tax YoY
- (4,159.24) (+63.4%)
- Period
- Quarter ended September 30, 2026
Auditor's review
Conclusion: Unmodified
Notes to the results
- Exceptional expense of INR 2665.59 lakhs recognised for additional harvest charges related to the 2023-2024 sugar season (quarter ended September 30, 2025).
- New Labour Codes effective November 21, 2025: gratuity and leave encashment impact estimated at Rs 787.72 Lakhs, finalised at Rs 448.22 Lakhs as on 31st March 2026, recognised as exceptional expense.
- Some business segments are seasonal; quarterly results are not representative of annual performance.
Results approved; auditor's review conclusion not modified
The Board met on November 4, 2026 from 4:00 PM to 6:55 PM and approved the unaudited consolidated and standalone financial results for the quarter and half year ended September 30, 2026, along with the Independent Auditor's Review Report.
Verma Mehta & Associates carried out a limited review of both statements. Its conclusion is not modified: nothing came to the auditor's attention that causes it to believe the statements contain a material misstatement or fail to disclose what is required.
Top line (consolidated, as printed)
- Revenue from operations: Rs. 54,924.08 Lakhs for the quarter and Rs. 1,10,711.78 Lakhs for the half year.
- Total income: Rs. 54,976.62 Lakhs for the quarter and Rs. 1,10,969.15 Lakhs for the half year.
- Total expenses: Rs. 56,951.15 Lakhs for the quarter.
Bottom line
- Profit/(Loss) after tax: Rs. (1,524.06) Lakhs for the quarter and Rs. (3,456.02) Lakhs for the half year. For the year ended March 31, 2026 the same line was Rs. 352.80 Lakhs in profit.
- Basic and diluted earnings per share: Rs. (2.98) for the quarter and Rs. (6.75) for the half year.
Segment picture (quarter, consolidated revenue)
- Sugar: Rs. 21,246.92 Lakhs
- Bio based Chemicals: Rs. 20,422.49 Lakhs
- Distillery: Rs. 13,129.35 Lakhs
- Cogeneration: Rs. 1,329.92 Lakhs
Items flagged in the notes
- An exceptional expense of Rs. 2,665.59 Lakhs has been provided for additional harvesting charges relating to the 2023-2024 sugar season, as neighbouring sugar mills agreed to pay such charges and the company decided to stay competitive.
- On the New Labour Codes, Gratuity and Leave Encashment were provided on an estimate of Rs. 787.72 Lakhs, while the final figures arrived at as on March 31, 2026 are Rs. 448.22 Lakhs; the one-time effect was recognised as an exceptional expense.
Cash flow and balance sheet (consolidated)
- Net cash inflow from operating activities: Rs. 6,638.03 Lakhs for the half year.
- Net cash outflow from investing activities: Rs. (5,303.35) Lakhs; net cash outflow from financing activities: Rs. (1,281.55) Lakhs.
- Cash and cash equivalents at the end of the period: Rs. 1,578.47 Lakhs.
- Total assets: Rs. 1,62,117.32 Lakhs as at September 30, 2026, against Rs. 2,05,225.28 Lakhs as at March 31, 2026.
- Borrowings: non-current Rs. 32,444.61 Lakhs and current Rs. 22,126.75 Lakhs.
What a retail reader should note
- These are unaudited numbers that have been subject to a limited review, which is narrower in scope than a full audit and does not give an audit opinion.
- Results of four foreign subsidiaries and one Indian subsidiary were reviewed by other auditors; the company's auditor relies on those reports, and its conclusion is not modified on that matter.
- The company states that some business segments are seasonal, so the results of a particular quarter are not representative of the annual performance.
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More numbers
- Consolidated Revenue from operations, half year ended Sep 30, 20261,10,711.78 Lakhs
- Consolidated Profit/(Loss) after tax, half year ended Sep 30, 2026(3,456.02) Lakhs
- Exceptional expense for additional harvesting charges, 2023-2024 sugar seasonINR 2665.59 lakhs
- Net cash inflow from operating activities, half year ended Sep 30, 20266,638.03 Lakhs
- Total income, latest quarter54,976.62 (Amount in INR Lakhs)
- Total income, year-ago quarter43,427.00 (Amount in INR Lakhs)
- Total income, previous quarter55,992.53 (Amount in INR Lakhs)
- Total comprehensive income, latest quarter(1,646.99) (Amount in INR Lakhs)
- Total comprehensive income, year-ago quarter(4,231.81) (Amount in INR Lakhs)
- Total comprehensive income, previous quarter(1,865.48) (Amount in INR Lakhs)
- Profit after tax, latest quarter(1,524.06) (Amount in INR Lakhs)
- Profit after tax, year-ago quarter(4,159.24) (Amount in INR Lakhs)
- Profit after tax, previous quarter(1,931.96) (Amount in INR Lakhs)
- Revenue from operations, latest quarter54,924.08 (Amount in INR Lakhs)
- Revenue from operations, year-ago quarter43,075.08 (Amount in INR Lakhs)
- Revenue from operations, previous quarter55,787.70 (Amount in INR Lakhs)
- Profit before tax, latest quarter(1,974.53) (Amount in INR Lakhs)
- Profit before tax, year-ago quarter(5,690.10) (Amount in INR Lakhs)
- Profit before tax, previous quarter(2,584.61) (Amount in INR Lakhs)
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