SBEC SUGAR LTD.

Manufactures sugar, with sugarcane as the dominant input — materials made up 80.1% of FY26 revenue, against employee costs of 4.1% and other operating expenses of 13.3%. On a standalone basis, revenue from operations for FY26 came in at Rs 53,516.06 lakhs (FY25: Rs 63,097.64 lakhs), with a net loss of Rs 6,280.89 lakhs widening from a Rs 1,178.61 lakhs loss a year earlier. Consolidated net profit for FY26 was Rs 1,865.54 lakhs (FY25: Rs 4,900 lakhs), supported primarily by Rs 8,334.25 lakhs in share of profit from a joint venture. The auditors qualified the FY26 results over non-provisioning of Rs 3,543.78 lakhs of interest on delayed cane payments pending a Cane Commissioner waiver decision, and standalone net worth has turned negative at Rs -17,091.19 lakhs. In February 2026, the company entered a one-time settlement of Rs 141.77 crore with related party Modi Industries Limited to recover an assigned debt, of which Rs 59.50 crore remained outstanding at 8% interest. A Rs 100 crore unsecured loan was also raised in June 2026 from a promoter group entity at 15% per annum.