Jagatjit Industries has accepted the resignation of Anil Singal as Chief Financial Officer, effective August 20, 2026. The departure marks the end of his tenure as a Key Managerial Personnel (KMP) following a notice period initiated in early August.

Singal tendered his resignation via email on August 10, 2026, citing personal reasons. In his communication to management, he confirmed that his last working day would be August 20, 2026. The company disclosed this change under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Tenure and Transition

Singal served with the company for 6.5 years before stepping down. In his resignation letter, he expressed gratitude to the promoters and management for their support during this period. He committed to ensuring a smooth transition of responsibilities during the notice period to facilitate a seamless handover.

The resignation was formally intimated to the Bombay Stock Exchange (BSE) in a letter dated August 24, 2026. Roopesh Kumar, Company Secretary of Jagatjit Industries, signed the disclosure, confirming that Singal ceased to be a KMP w.e.f. August 20, 2026.

Regulatory Disclosure

The company provided details as required under SEBI Master Circular No SEBI/HO/49/14/14(7)2025-CFD-POD2/1/3762/2026, dated January 30, 2026. The disclosure confirms that the reason for the change is resignation and specifies the cessation date.

The company has enclosed the letter of resignation received from Singal along with the regulatory filing.

Jagatjit Industries reported a narrowed net loss for the first quarter of FY27, with standalone results showing improved operational performance despite continued overall deficits. The company’s board approved the unaudited financial results on August 13, 2026, highlighting a 50% surge in revenue and a turnaround in its biofuel division.

Standalone revenue from operations climbed to ₹1,868.0 lakh for the quarter ended June 30, 2026, up from ₹1,247.7 lakh in the corresponding period of FY26. This growth was primarily fueled by the ethanol segment, which contributed ₹1,028.7 lakh in revenue, compared to nil in the previous year. The consolidated revenue mirrored this trend at ₹1,868.0 lakh.

Financial Performance Overview

The company recorded a standalone net loss of ₹824 lakh after tax, an improvement from the net loss of ₹987 lakh in Q1FY26. Basic earnings per share (EPS) stood at a loss of ₹1.76, better than the loss of ₹2.11 per share in the prior year. Consolidated net loss was reported at ₹828 lakh.

Expenses totaled ₹1,987.1 lakh, driven by cost of materials consumed at ₹1,058.5 lakh and excise duty of ₹2,650 lakh. Finance costs remained stable at ₹727 lakh.

What the Numbers Show

The financial data reveals a sharp divergence between segment profitability and overall company performance. While the ethanol segment delivered a positive segment result of ₹654 lakh, turning around from a nil contribution in the prior year, the traditional beverages segment posted a loss of ₹118 lakh on revenue of ₹7,257 lakh. This indicates that while the new biofuel venture is generating operating profit, it is not yet sufficient to fully offset the structural losses in the legacy beverage business, which continues to operate at a deficit despite higher volumes.

Segment-wise Breakdown

• Ethanol: Revenue surged to ₹1,028.7 lakh with a segment profit of ₹654 lakh.
• Beverages: Revenue fell 35% to ₹7,257 lakh, with a segment loss of ₹118 lakh.
• Food: Revenue increased to ₹746 lakh but incurred a segment loss of ₹161 lakh.
• Others: Revenue rose slightly to ₹390 lakh with a negligible segment profit of ₹2 lakh.

Going Concern and Strategic Moves

Statutory auditors V P Jain & Associates issued an unmodified review report but included an emphasis of matter regarding going concern. The company operates on a going concern basis despite negative net worth and continued losses. Management stated that long-term sustainability depends on the stable operation of its 200 KL per day ethanol plant and improving margins in other segments.

To augment working capital, Jagatjit Industries is contemplating infusing long-term interest-free funds through private equity placement and promoter contributions. Additionally, the company has received partial consideration of ₹11,761 lakh towards the development and disposal of leasehold land from its discontinued glass division, with revenue recognition pending completion of development agreements.