Dwarikesh Sugar Industries has disclosed another substantial acquisition by promoter Gautam Radheshyam Morarka under SEBI's regulatory framework. The latest transaction represents a continued strategic increase in the promoter's stake in the sugar manufacturing company.

Latest Transaction Details

Gautam Radheshyam Morarka acquired 12,500 equity shares of Dwarikesh Sugar Industries Limited through market purchase on March 20, 2026. The acquisition represents 0.01% of the company's total share capital.

Updated Shareholding Pattern

The latest acquisition has resulted in a further increase in Morarka's shareholding percentage in the company. As a promoter of Dwarikesh Sugar Industries, this transaction continues to strengthen his stake in the organization.

Regulatory Compliance

The disclosure was filed in accordance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company's shares are listed on both BSE Ltd. and National Stock Exchange of India Limited.

Key regulatory aspects of the latest transaction include:

• No encumbrances reported on the acquired shares
• No voting rights acquired other than through equity shares
• No warrants or convertible securities involved in the transaction
• Promoter status confirmed for the acquirer

Company Information

Dwarikesh Sugar Industries Limited maintains its equity share capital at 185,301,470 shares. The company's total voting capital remains unchanged following this acquisition, with no dilution reported in the disclosure. The promoter's cumulative stake now stands at 15.22% through these market purchases.

Dwarikesh Sugar Industries Limited announced strong quarterly results for Q3FY26 ended December 31, 2025, demonstrating significant improvement in operational performance. The company reported enhanced profitability metrics with better sugar sales volumes and improved price realizations during the quarter.

Financial Performance Highlights

The company's Q3FY26 results showed substantial improvement across key financial metrics compared to the corresponding period last year. Total income increased to Rs. 328.16 crore in Q3FY26 from Rs. 316.39 crore in Q3FY25, while EBITDA improved significantly to Rs. 40.68 crore from Rs. 30.89 crore.

Sugar Operations and Market Performance

Sugar sales during Q3FY26 amounted to 5.20 lakh quintals compared to 4.99 lakh quintals in the corresponding quarter of the previous year. The average realization from domestic sugar sales improved to Rs. 4,013 per quintal during the quarter, against Rs. 3,772 per quintal in the same period last year. For the nine months ended FY26, sugar sales stood at 17.85 lakh quintals, marginally higher than 17.71 lakh quintals recorded in the corresponding period of the previous year.

Sugar inventory as of December 31, 2025 stood at 8.21 lakh quintals, slightly lower than 8.27 lakh quintals as of December 31, 2024. The company noted that sugar prices, which were hovering around Rs. 4,100 per quintal at the start of the quarter, softened during the period but have since rebounded to around Rs. 4,050 per quintal.

Industrial Alcohol and Distillery Operations

Industrial alcohol sales during Q3FY26 were 12,432 KL, while sales for 9MFY26 stood at 34,081 KL, compared to 14,958 KL and 30,470 KL respectively in the corresponding periods of the previous year. Both distilleries are currently operating using B heavy molasses as feedstock. The company's outstanding long-term borrowing as of December 31, 2025 was Rs. 102.08 crore, entirely related to the distillery project at the DD unit, availed at a concessional rate of interest.

Crushing Season and Operational Updates

Crushing operations for the SS 2025-26 season commenced on November 7, 2025 at the Dwarikesh Nagar and Dwarikesh Puram units in Bijnor district, and on November 10, 2025 at the Dwarikesh Dham unit in Bareilly district. While cane availability from the ratoon crop has been lower due to reduced yields, recovery trends have been encouraging.

The company continues its efforts in crop protection and varietal development to mitigate challenges arising from adverse weather conditions and red-rot infestation. Management expressed confidence in regaining operational momentum by the 2026-27 season while maintaining focus on enhancing operational efficiencies and rigorous cost controls.