Simbhaoli Sugars Limited hereby submitted Consolidated Unaudited Financial Results for the period 31st December, 2025 along with Limited review report.
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Simbhaoli Sugars is currently under Corporate Insolvency Resolution Process (CIRP) initiated on July 11, 2024, with its Board powers suspended. The IRP meeting on May 29, 2026 approved and took on record consolidated financial results for Q1 (June 2025), Q2 (September 2025), Q3 (December 2025), and audited standalone results for Q4/year ended March 2026. The attached auditor's report covers Q1 June 2025, which shows total income of Rs 23,392.40 Lacs and net loss of Rs 2,243.24 Lacs. The auditor has issued an Adverse Opinion citing 14 material issues including undisclosed interest expenses on bank borrowings (Rs 8,360.27 Lacs for the quarter, Rs 1,83,389.90 Lacs cumulative), unprovided interest on cane price dues (Rs 12,163.25 Lacs), and going concern uncertainty as net worth is fully eroded and current liabilities exceed current assets. Subsidiary auditors have also issued Disclaimer (SPPL) and Adverse Opinion (ICCPL). NCLAT has reserved judgment on May 13, 2026 on whether CIRP will continue.
The stock remains suspended and shareholders face extreme risk as the company is under insolvency with multiple auditor qualifications raising doubts about the reliability of financial statements and the company's ability to continue as a going concern.