Simbhaoli Sugars Limited has informed the Exchange about IRP Convened Meeting held today i.e 13th February, 2025 to consider, review and take note the Unaudited Financial reults for the quarter ended 31st December 2025.
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Simbhaoli Sugars, currently under the Corporate Insolvency Resolution Process (CIRP) since July 2024, filed unaudited Q3 FY26 results taken on record by the Interim Resolution Professional (IRP). Revenue from operations fell to Rs 21,354.22 lakhs in Q3 FY26 from Rs 26,436.36 lakhs in Q3 FY25, a decline of about 19%. The company reported a net loss of Rs 453.49 lakhs in Q3 and Rs 3,684.50 lakhs for the nine-month period, widening from Rs 265.90 lakhs and Rs 2,353.85 lakhs respectively a year ago. Other equity is fully eroded at negative Rs 8,797.46 lakhs. The statutory auditor issued a qualified conclusion, flagging that interest on bank borrowings (accumulated Rs 2,01,022.71 lakhs), interest on related-party loans, sugarcane interest (Rs 12,163.25 lakhs), and impairment on subsidiary exposures (Rs 22,425.69 lakhs in SPPL) have not been provided for. The auditor also highlighted a material uncertainty around the company's ability to continue as a going concern. The NCLAT has stayed CIRP proceedings, with the next hearing scheduled for March 24, 2026.
Shareholders face severe dilution and recovery risk as the company is under insolvency with fully eroded net worth, unpaid bank interest of over Rs 2,000 crore, and an unresolved CIRP process. Recent regulatory blows, including CPCB orders to halt distillery operations at two units and diversion of cane areas to rival mills, further threaten sugar and ethanol revenues, making equity recovery highly uncertain.