Simbhaoli Sugars Limited here by submitting Unaudited Consolidated Financial results for the Quarter ended June 2025 along with Limited review report.
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Simbhaoli Sugars Limited, currently under Corporate Insolvency Resolution Process (CIRP) since July 2024, has reported consolidated unaudited financial results for Q1 FY26 (quarter ended June 30, 2025). Revenue from operations declined to ₹23,247.21 Lacs from ₹32,392.71 Lacs in the same quarter last year, a drop of approximately 28%. The company reported a net loss of ₹2,243.24 Lacs compared to a loss of ₹1,365.06 Lacs in Q1 FY25. The auditors (B.K. Kapur & Co.) have issued an ADVERSE OPINION citing multiple material issues: non-provision of interest expenses on bank borrowings (₹8,360.27 Lacs for the quarter), going concern doubts due to eroded net worth and cash losses, disclaimer of opinion from subsidiary Simbhaoli Power Private Limited, and adverse opinion from subsidiary Integrated Casetech Consultants Private Limited. The NCLAT had admitted the insolvency petition and appointed Mr. Anurag Goel as IRP, with the CIRP currently under stay since July 2024.
The adverse auditor opinion with multiple material uncertainties including going concern doubts, non-provisioned interest liabilities exceeding ₹1.83 lakh crore in aggregate, and ongoing CIRP indicates extremely high risk for shareholders. The stock remains highly speculative given the insolvency proceedings and the pending NCLAT judgement that will determine the company's future.