Rana Sugars will conduct its 34th Annual General Meeting through video conference or other audio-visual means on Wednesday, September 30, 2026, at 12:30 pm. The meeting venue is deemed to be the company’s registered office in Chandigarh.

Meeting and Voting Details

Shareholders holding shares as of the cut-off date of Wednesday, September 23, 2026, are eligible to vote. The remote e-voting facility will be available from 9:00 am on Sunday, September 27, 2026, until 5:00 pm on Tuesday, September 29, 2026. Once a vote is cast during this window, it cannot be modified.

Members who have not voted remotely may cast their votes electronically during the AGM itself. Those who vote remotely are eligible to attend the meeting but cannot vote again. The proxy facility is not available for this meeting.

Book Closure Period

The Register of Members and Share Transfer Books will remain closed from Thursday, September 24, 2026, to Wednesday, September 30, 2026, both days inclusive.

Document Access

The Notice of AGM and Annual Report for FY26 have been dispatched electronically to members with registered email IDs. Copies are also available on the company’s website. Members holding physical shares are requested to update their email addresses with the Registrar and Transfer Agent to receive future communications.

Rana Sugars has fixed September 23, 2026 as the cut-off date for reckoning voting rights for its 34th Annual General Meeting. The register of members and share transfer books will remain closed from September 24 to September 30, 2026.

The meeting is scheduled for September 30, 2026, at 12:30 pm via Video Conferencing or Other Audio Visual Means. Shareholders registered with the company or depository participants will receive the notice electronically.

Key Resolutions

The notice outlines several special resolutions for shareholder approval:

• MD Remuneration Hike: Approval sought to increase the monthly remuneration of Managing Director Rana Veer Pratap Singh from ₹25 lakh to ₹30 lakh, effective April 1, 2027. This includes a fixed pay component and variable performance-linked bonus.
• Related Party Salary Increase: Consent required under Section 188 of the Companies Act to raise the monthly salary of Mrs. Kirandeep Kaur, Administration Head and relative of the Chairman, from ₹5 lakh to ₹15 lakh.
• Cost Auditor Fees: Ratification of remuneration for M/s Khushwinder Kumar & Co. as Cost Auditors for FY27, set at ₹69,733 plus GST and out-of-pocket expenses.

Financial Performance FY26

For the financial year ended March 31, 2026, the company reported a net profit of ₹2,381.40 lakh, down from ₹3,438.29 lakh in the previous year. Revenue from operations stood at ₹1,74,344.14 lakh, marginally lower than the ₹1,74,515.51 lakh recorded in FY25.

The decline in profitability was attributed to challenging market conditions and fluctuations in commodity prices. The Board decided not to recommend any dividend for the year, opting to plough back earnings for business growth.

Regulatory and Legal Updates

The annual report highlights ongoing regulatory challenges:

• Enforcement Directorate Probe: The company disclosed an order from the Enforcement Directorate dated April 1, 2025, seizing immovable property worth ₹22.02 crore under FEMA regulations. The matter relates to the non-utilization of Global Depository Receipt proceeds from 2006. An appeal is pending before the Appellate Authority in Delhi.
• SEBI Penalties: The company was fined ₹7 crore by SEBI in August 2024 for alleged violations of LODR regulations. An appeal is filed with the Securities Appellate Tribunal. Additionally, fines of ₹60,000 each were imposed by BSE and NSE for late submission of Q3FY25 results.

Operational Highlights

Sugarcane crushing declined by 27% to 115.97 lakh quintals compared to the previous year, while sugar beet crushing increased by 43.49% to 23.59 lakh quintals. The distillery segment saw increased production, with total ethanol output rising to 1,072.59 lakh bulk litres from 902.82 lakh bulk litres in FY25.

What the Numbers Show

While revenue remained flat, the sharp contraction in EBITDA (from ₹10,482.76 lakh to ₹7,156.34 lakh) indicates significant margin pressure during FY26. This divergence suggests that cost structures or input prices did not align favorably with stable top-line growth, impacting the bottom line disproportionately.