UNAUDITED QUARTERLY RESULTS FOR THE QUARTER ENDED ON 30TH JUNE 2025
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SBEC Sugar reported its Q1 FY26 results with standalone revenue from operations of Rs. 11,740.20 lakhs, up about 16.7% from Rs. 10,063.33 lakhs in the same quarter last year. However, the company swung to a standalone loss before tax of Rs. 2,338.35 lakhs versus a profit of Rs. 547.65 lakhs in Q1 FY25, with EPS turning negative at Rs. (4.91). On a consolidated basis, revenue rose to Rs. 11,987.53 lakhs but the loss widened sharply to Rs. 2,604.91 lakhs (EPS Rs. (5.47)) from Rs. 1,232.90 lakhs a year ago. The statutory auditor issued a qualified conclusion flagging Rs. 1,263.31 lakhs of unprovided interest on delayed cane dues for the 2024-25 season and a Rs. 14,685.98 lakh debt exposure in Modi Industries Limited (whose net worth is fully eroded). The board also approved the re-appointment of Mrs. Kumkum Modi, new secretarial auditors, and the 31st AGM notice.
Shareholders face a significant swing to losses despite modest revenue growth, driven by higher input costs and finance charges. The qualified audit opinion and ongoing cane dues litigation (including a July 2025 High Court recovery order) add material uncertainty around cash flows and contingent liabilities, which is likely to weigh on the stock in the near term.