Vishwaraj Sugar Industries Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
VISHWARAJ · price
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On the reaction day the stock moved 1.0 pts more than Nifty Microcap 250 and 0.8 pts more than its Sugar peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Vishwaraj Sugar Industries reported a net loss of Rs 671.33 lakhs in Q3 FY26, reversing a small profit of Rs 62.76 lakhs in the same quarter last year. Revenue from operations fell to Rs 7,768.35 lakhs from Rs 9,319.61 lakhs year-on-year, a decline of about 17%. For the nine-month period, the company posted a loss of Rs 3,776.84 lakhs on revenue of Rs 26,578.21 lakhs, compared to a loss of Rs 3,867.98 lakhs on Rs 28,723.48 lakhs in the prior year period. The Sugar segment alone dragged with a Rs 9,261.97 lakh quarterly loss, though the Distillery segment remained profitable at Rs 8,198.09 lakhs. Debt-equity ratio climbed to 1.46 from 1.39 at March 2025, with long-term borrowings rising to Rs 18,127.33 lakhs. Statutory auditor M/s P.G. Ghali & Co. issued an unmodified limited review report.
Continuing losses, falling revenues, and rising leverage are negative signals. Shareholders may see pressure on the stock as the core Sugar segment deepens losses, though Distillery earnings are cushioning the fall. The clean auditor review provides limited comfort given the weak fundamentals.