Approved un-audited financial results for the quarter ended 31st December, 2025.
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SBEC Sugar reported standalone revenue from operations of Rs 115.55 crore for Q3 FY26, down from Rs 139.88 crore in Q3 FY25. The company posted a standalone loss of Rs 20.59 crore for the quarter and Rs 69.51 crore for the nine months ended Dec 31, 2025, widening from Rs 57.26 crore loss in the same period last year. On a consolidated basis, the nine-month loss was Rs 71.93 crore. The auditor flagged that the company has not provisioned Rs 27.05 crore in interest on late cane dues, which is sub-judice. The board approved a One-Time Settlement of Rs 141.77 crore with related party Modi Industries Limited (common directors) for an earlier debt assignment, booking a settlement loss of Rs 5.09 crore. So far Rs 59.50 crore has been received from MIL, with the remaining amount carrying 8% interest from Jan 1, 2026.
Widening losses, shrinking revenues, and negative other equity of around Rs 104-109 crore signal serious financial stress. The OTS with the related party Modi Industries provides some cash recovery but at a Rs 5 crore haircut, and the unresolved cane dues interest issue remains a major overhang on the stock.