Simbhaoli Sugars Limited has informed the Exchange regarding 'IRP Convened Meeting for review and taken on record Consolidated Financials along with Auditor report for the Quarter and year ended 31st March 2025'.
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The Interim Resolution Professional (IRP), Mr. Anurag Goel, convened a meeting on March 11, 2026, where the audited consolidated financial results of Simbhaoli Sugars Limited for Q4 and full year ended March 31, 2025 were taken on record. The company has been under Corporate Insolvency Resolution Process (CIRP) since July 11, 2024, after NCLT Allahabad admitted a petition filed by Oriental Bank of Commerce (now Punjab National Bank); NCLAT has granted a stay on further CIRP steps and the next hearing is March 24, 2026. Consolidated revenue for FY25 stood at ₹1,16,431 lakhs (down from ₹1,35,401 lakhs in FY24), with a net loss of ₹1,981 lakhs (vs ₹3,046 lakhs loss in FY24) and EPS of ₹0.32. The company has a deeply negative other equity of ₹(16,644) lakhs and total borrowings of ₹1,01,074 lakhs, with cumulative interest not provided in books amounting to ₹1,75,030 lakhs. The auditor issued an adverse opinion, citing going concern doubts, a broken turbine at subsidiary SPPL, unrecovered receivables, delayed cane payment interest of ₹12,163 lakhs not provided, and director remuneration paid without lender consent.
This is a high-risk situation for shareholders — the company is deep in insolvency proceedings with negative net worth, and the adverse audit opinion and large unprovided liabilities suggest further value erosion is possible. Stock remains highly speculative; outcomes will depend on the NCLAT hearing on March 24, 2026 and the eventual resolution plan under CIRP.