Acceptance the resignation of Mr. Ankit Bisht, Company Secretary and Compliance Officer of the Company w.e.f 15-11-2025.
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SBEC Sugar's board accepted the resignation of Mr. Ankit Bisht as Company Secretary and Compliance Officer, effective close of business on November 15, 2025. In the same meeting, the board approved unaudited standalone and consolidated financial results for Q2 and H1 FY26 ended September 30, 2025. Standalone revenue from operations for H1 FY26 stood at Rs 26,609.79 lakhs versus Rs 27,775.02 lakhs in H1 FY25, while loss before tax widened to Rs (4,892.07) lakhs from Rs (3,583.03) lakhs a year earlier. Basic EPS for H1 was Rs (10.27) on a standalone basis and Rs (11.46) on a consolidated basis. The statutory auditor issued a qualified review report, flagging that no provision was made for Rs 2,080.45 lakhs of interest on late cane dues for sugar season 2024-25, and that Rs 14,685.98 lakhs of exposure to Modi Industries Ltd remains uncertain given MIL's fully eroded net worth.
Loss of a Key Managerial Personnel (Company Secretary/Compliance Officer) adds to governance uncertainty at a loss-making company. Widening losses, pending cane-dues interest litigation, and doubtful recovery from MIL continue to weigh on the stock; shareholders should watch for a timely CS replacement and any movement on the cane dues and MIL settlement.