Outcome of IRP convened meeting held today i.e., December 29, 2025 in which Standalone Result for the quarter ended on September 30, 2025 is duly considered and taken on record by IRP.
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Simbhaoli Sugars, currently under CIRP since July 2024 and managed by IRP Mr. Anurag Goel (NCLAT has stayed further proceedings, next hearing January 14, 2026), reported Q2 FY26 standalone revenue of ₹22,545.88 lakhs, up about 13% from ₹19,998.98 lakhs a year ago, but H1 FY26 revenue fell to ₹45,428.45 lakhs from ₹52,259.72 lakhs. The company posted a net loss of ₹2,195.27 lakhs in Q2 and ₹3,231.01 lakhs in H1 FY26, wider than the ₹967.75 lakhs and ₹2,087.95 lakhs losses in the prior-year periods. Other equity is deeply negative at ₹(8,797.46) lakhs, meaning net worth is fully eroded. The auditor (B.K. Kapur & Co) issued a qualified review report flagging 13 issues including ₹1.92 lakh lakhs of unprovided accumulated interest on bank borrowings, no impairment assessment on subsidiary exposures of over ₹22,156 lakhs, unpaid cane interest of ₹12,163.25 lakhs, Section 197 violations on director remuneration, and serious going-concern doubts. Sugar production was nil in H1, sugar stock valuation relied on prior audited figures, and cane area allotments for 2025-26 were sharply reduced, including zero allocation for the Chilwariya unit.
For shareholders, the picture is grim: the company is in insolvency, net worth is wiped out, losses are widening, contingent liabilities of over ₹2 lakh lakhs are unprovided, and the auditor flagged material uncertainty on going-concern status; stock price is likely to remain under pressure with risk of further dilution or write-off depending on NCLAT outcome on January 14, 2026.