Simbhaoli Sugars Limited hereby informed to the stock exchange Outcome of Board/IRP Convened Meeting Following items were approved and taken on record by IRP 1. Consolidated Unaudited ....
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Simbhaoli Sugars Limited held an IRP-convened meeting on May 29, 2026, approving appointment of Cost Auditor (M/s Cheena & Associates) and Secretarial Auditor (M/s Amit Gupta & Associates) for FY 2025-26. The IRP took on record consolidated unaudited financial results for Q1 June 2025, Q2 September 2025, Q3 December 2025, and audited standalone results for Q4/year ended March 2026. The Q1 June 2025 results show total income of ₹23,392.40 Lakhs with a net loss of ₹2,243.24 Lakhs. The statutory auditors issued an Adverse Conclusion citing multiple issues including unprovided interest on bank borrowings amounting to ₹1,83,389.90 Lakhs cumulative, unprovided cane farmer dues interest of ₹12,163.25 Lakhs, going concern doubts, and disclaimer of opinion from subsidiary Simbhaoli Power Private Limited. The company is under CIRP since July 11, 2024, with NCLAT stay in effect as of July 24, 2024.
The stock remains under a cloud due to ongoing insolvency proceedings and highly qualified financial statements. Shareholders face extreme uncertainty as the CIRP outcome is still pending before NCLAT, and the financial results reflect severe stress with eroded net worth and massive unprovided liabilities.