Simbhaoli Sugars Limited has submitted to the Exchange, Standalone Audited financial results for the period ended March 31, 2026.
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Simbhaoli Sugars Limited, under Corporate Insolvency Resolution Process (CIRP) since July 11, 2024, has filed outcomes from an IRP meeting held on May 29, 2026. The company appointed M/s Cheena & Associates as Cost Auditor and M/s Amit Gupta & Associates as Secretarial Auditor for FY2025-26, subject to COC and shareholder ratification. The filing also takes on record consolidated unaudited results for Q1-Q3 FY2025 and audited standalone results for Q4 and full year ended March 31, 2026. The auditor B.K. Kapur & Company has issued an Adverse Opinion on the consolidated Q1 (June 2025) results, citing the company's ongoing CIRP, unprovided interest expenses of ₹18,389.90 lakhs on bank borrowings, ₹12,163.25 lakhs on cane dues, and going concern uncertainties. One subsidiary (SPPL) received a Disclaimer of Opinion and another (ICCPL) received an Adverse Opinion from their respective auditors. NCLAT has reserved its judgment as of May 13, 2026 on whether CIRP will resume.
The adverse opinion and going concern flags signal material misstatements in the financial results. Shareholders should be aware that the company is under insolvency proceedings with a stay in place, has not recognized massive interest liabilities, and its consolidated net loss for Q1 FY25 was ₹2,243.24 lakhs. The outcome of the pending NCLAT judgment will be critical for the company's future.