Outcome of Board Meeting held on January 29, 2026.
Awaiting price reaction for this filing.
Sanghi Industries Limited (Adani Cement subsidiary) reported Q3 FY26 revenue from operations of ₹275.00 crore, up ~6% YoY from ₹258.96 crore in Q3 FY25, while 9M FY26 revenue grew ~27% YoY to ₹805.31 crore. Despite top-line growth, the company posted a net loss of ₹115.39 crore for the quarter and ₹307.34 crore for 9M FY26, though the nine-month loss narrowed from ₹381.46 crore a year ago. An exceptional income of ₹40 crore was booked in Q3 from an indemnity claim recovered from erstwhile promoters against an electricity duty dispute. Depreciation more than doubled YoY (₹95.26 cr vs ₹36.51 cr) due to revised useful life of plant & equipment, and finance costs stayed elevated at ₹51.58 crore. The Board also appointed Mr. Rohit Soni (currently CFO of Adani Cement) as Additional Non-Executive Director effective January 31, 2026. The merger scheme with Ambuja Cements, approved by shareholders in November 2025, awaits NCLT order.
Top-line growth and narrowing of nine-month losses are mildly positive, but persistent operating losses, rising depreciation, high finance costs, and a large contingent electricity-duty liability of ~₹181.65 crore keep the stock risky. Near-term share price is likely driven more by the progress of the Ambuja merger scheme than by the weak standalone numbers.