Outcome of Board Meeting
Price
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The board approved Piccadily Sugar's unaudited standalone results for Q1 FY26 (quarter ended June 30, 2025). Revenue from operations stood at almost zero (nil) compared to Rs. 27.78 lakhs in the same quarter last year, while other income rose sharply to Rs. 88.62 lakhs from Rs. 18.29 lakhs. Total expenses fell to Rs. 86.05 lakhs from Rs. 128.45 lakhs, helping the company narrow its net loss to Rs. 9.75 lakhs (EPS of Rs. -0.04) versus a Rs. 59.66 lakh loss a year ago. The board also appointed P. Chadha & Associates as Secretarial Auditors for a five-year term and fixed September 30, 2025 for the 32nd AGM, with book closure from September 24-30, 2025. Note 4 mentions the company is in the process of setting up an ENA/Ethanol plant, and other equity remains negative at Rs. -1,197.79 lakhs, indicating accumulated losses. The auditor (Jain & Associates) issued an unmodified limited review report.
Sugar operations generated no operating revenue this quarter, making the company dependent on other income to stay close to break-even. Shareholders should note the persistently negative net worth and absence of core revenue, though the narrowing loss and progress on the ethanol plant may offer some future upside.