Sanghi Industries Limited has submitted to the Exchange, the Un-audited financial results for the period ended September 30, 2025.
Awaiting price reaction for this filing.
Sanghi Industries reported Q2 FY26 revenue from operations of ₹284.93 crore, up 88% from ₹151.50 crore in the same quarter last year, driven by higher volumes. H1 FY26 revenue stood at ₹530.31 crore versus ₹374.49 crore in H1 FY25, a 42% jump. Despite strong top-line growth, the company posted a Q2 loss of ₹116.55 crore and an H1 loss of ₹191.95 crore, though H1 losses narrowed significantly from ₹284.50 crore a year ago. Power and fuel costs surged to ₹119.24 crore in Q2, while depreciation and finance costs remained heavy at ₹92.89 crore and ₹52.90 crore respectively. The company recognised ₹40 crore as exceptional income from an indemnity claim reimbursement by erstwhile promoters, while a ₹121.20 crore exceptional expense was booked in Q1 for pending electricity duty litigation. Total debt stands at roughly ₹2,485 crore against equity of just ₹420.53 crore, and a ₹779.14 crore contingent liability has been disclosed for disputed electricity duty interest.
The sharp revenue growth is positive and signals operational ramp-up, but persistent losses and a very high debt-to-equity ratio of nearly 6x keep the stock under stress. Shareholders should watch the November 20, 2025 NCLT-ordered shareholder meeting on the proposed merger with Ambuja Cements, which could be a major value event. Electricity duty litigation remains a key overhang.