Results for Quarter 2 and Half Year ended 30.9.2025
Awaiting price reaction for this filing.
Sir Shadi Lal Enterprises Ltd reported Q2 FY26 revenue from operations of ₹9,546.26 lakhs, up sharply from ₹2,259.56 lakhs in Q2 FY25, driven mainly by the sugar segment (₹9,546.26 lakhs) as the distillery did not operate in Ethanol Supply Year 2024-25 due to extensive repairs. Half-year revenue rose to ₹18,830.79 lakhs from ₹11,896.99 lakhs, a ~58% YoY jump. Despite higher revenue, the company posted a loss before tax of ₹(1,634.67) lakhs for the quarter and ₹(2,496.70) lakhs for H1, widening from ₹(1,140.73) and ₹(1,542.04) lakhs respectively. Loss after tax for H1 narrowed to ₹(1,870.58) lakhs vs ₹(4,203.76) lakhs earlier, helped by a deferred tax credit. Other equity remains deeply negative at ₹(23,297.52) lakhs and total borrowings stand at ~₹36,079 lakhs, prompting the auditor to flag a going concern uncertainty reliant on support from holding company Triveni Engineering & Industries Ltd (TEIL). A Composite Scheme of Arrangement to merge SSEL into TEIL is pending NCLT approval, with shareholder/creditor meetings scheduled for November 30, 2025.
Shareholders face continued losses, negative reserves, and a going concern flag, but the proposed amalgamation into TEIL (a stronger parent) could be a resolution path. Near-term stock reaction may remain muted until the merger scheme outcome is clear; the ₹7.09 crore UP excise demand is a near-term overhang being contested in court.