Simbhaoli Sugars Limited hereby submitted to stock exchange the Audited Standalone Financials as on 31st March, 2026
SIMBHALS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Simbhaoli Sugars Limited held an IRP-convened meeting on May 29, 2026, approving appointment of Cost Auditor (Cheena & Associates) and Secretarial Auditor (Amit Gupta & Associates) for FY 2025-26. The meeting also recorded Consolidated Unaudited Financials for Q1 June 2025 (Revenue: ₹23,247 Lacs, Net Loss: ₹2,243 Lacs), Q2 Sept 2025, Q3 Dec 2025, and Audited Standalone Financials for FY ended March 2026. The company's auditor B.K. Kapur & Co issued an ADVERSE OPINION on Q1 consolidated results, citing: disclaimer by subsidiary SPPL auditor, adverse opinion by subsidiary ICCPL auditor, non-provision of interest on bank borrowings (₹8,360 Lacs for quarter, ₹1.83 lakh Lacs cumulative), non-provision of interest on cane dues (₹12,163 Lacs), and unassessed impairment on assets and investments (₹21,731 Lacs). The company is under CIRP since July 11, 2024, with board powers suspended. NCLAT stay continues since July 24, 2024. Other Equity stands at negative ₹16,644 Lacs, indicating fully eroded net worth.
The adverse auditor opinion and eroded net worth confirm extreme financial distress. The stock is suspended/low liquidity due to CIRP proceedings. Shareholders face significant risk as creditors' claims will take priority over equity in any resolution process. The NCLAT judgment (reserved May 13, 2026) remains awaited and will be a critical event.