Financials results for the quarter and nine months ended December 31, 2025.
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The Ravalgaon Sugar Farm Limited reported a net loss of Rs. 19.52 lakhs for Q3 FY26, slightly better than the Rs. 26.66 lakhs loss in Q3 FY25. For the nine months ended December 2025, the loss stood at Rs. 135.07 lakhs versus Rs. 193.55 lakhs in the same period last year. Most importantly, Revenue from Operations was NIL for both Q3 FY26 and 9M FY26, compared with Rs. 115.81 lakhs for full year FY25 — the company is generating zero operating revenue and relying entirely on other income (Rs. 42.12 lakhs for 9M FY26). The board also reappointed M/s. Sandesh Kadam & Associates as internal auditors. The auditor's report includes an Emphasis of Matter highlighting three ongoing legal disputes: a gratuity claim (Rs. 28.23 lakhs + Rs. 33.87 lakhs interest), a water usage charge dispute with Maharashtra's Irrigation Department, and a large Gram Panchayat tax demand of Rs. 231.91 lakhs (gross).
Shareholders should be seriously concerned — the company has ceased generating operational revenue and is incurring continuous losses funded only by other income, raising significant viability questions. The combined pending legal exposures (especially the Rs. 231.91 lakh Panchayat demand) add further downside risk. The stock is likely to face negative pressure.