The following items were discussed and approved in the Meeting of the Board of Directors held on 12.02.2026. Unaudited Financial Results fo the Quarter and Nine Months ended 31st Dec ....
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Dharani Sugars reported deeply negative results for Q3 FY26 and nine months ended December 2025. Revenue from operations was just Rs 17.25 lakhs in Q3 FY26, sharply down from Rs 176.69 lakhs in the previous quarter and Rs 22.47 lakhs a year ago, though nine-month revenue rose to Rs 217.04 lakhs from Rs 54.25 lakhs. The company posted a net loss of Rs 2,028.19 lakhs in Q3 and Rs 6,051.81 lakhs for nine months, with losses widening from Rs 5,821.38 lakhs a year ago. Reserves are negative at Rs (20,479.87) lakhs, indicating negative net worth, and the auditor issued a qualified opinion with multiple qualifications. Borrowings from directors and related parties stand at Rs 21,202.13 lakhs, and Rs 33,465 lakhs of unsustainable debt has been disclosed as contingent liability under the Master Restructuring Agreement.
This is a deeply distressed company with negligible operations, mounting losses, negative net worth, and unresolved debts including unpaid statutory dues and overdue loans. Shareholders face significant dilution risk from the pending NARCL debt-to-equity conversion and continued operational uncertainty, making this a high-risk investment with near-term recovery prospects dependent on revival plans.