The Ravalgaon Sugar Farm approved its unaudited financial results for the quarter ended June 30, 2026, during a board meeting held on August 11, 2026. The results, along with the limited review report issued by the statutory auditor, are available on the company's website.

The board also addressed regulatory compliance regarding shareholder securities. Pursuant to SEBI Circular No. HO/38/13/11(2)2026-MIRSD-POD/I/3750/2026 dated January 30, 2026, the company has opened a special window for the transfer and dematerialisation of physical securities. This facility is available for securities sold or purchased before April 1, 2019, where earlier transfer requests were rejected, returned, or not processed due to documentation or procedural deficiencies.

Shareholder Notice

The special window for transfer and dematerialisation will remain open until February 4, 2027. Eligible shareholders can contact the company's registrar and share transfer agent, Purva Shareregistry (India) Private Limited, located at 9, Shiv Shakti Industrial Estate, J. R. Boricha Marg, Lower Parel (E), Mumbai – 400011.

The company published advertisements regarding this notice in Business Standard (English) and Mumbai Lakshadweep (Marathi) on August 12, 2026, in compliance with Regulation 30 and Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Ravalgaon Sugar Farm Limited reported a net loss of ₹63.32 lakhs for the quarter ended June 30, 2026 (Q1FY27), widening from a loss of ₹50.79 lakhs in the corresponding period of the previous year. The deterioration was driven by higher employee benefits and finance costs, while the company recorded no revenue from operations as it remains inactive following the sale of its sugar and confectionery assets. In a separate development relevant to shareholders, the company announced that the special window for the transfer and dematerialization of physical securities will remain open until February 4, 2027. This deadline applies specifically to shares sold or purchased before April 1, 2019, where earlier transfer requests were rejected or not processed due to documentation deficiencies.

Financial Performance

The company incurred total expenses of ₹63.32 lakhs in Q1FY27, up from ₹50.83 lakhs in Q1FY26. Employee benefits expense rose to ₹20.14 lakhs from ₹23.04 lakhs, while finance costs increased significantly to ₹7.65 lakhs from ₹0.61 lakhs. Other expenses stood at ₹28.91 lakhs, compared to ₹20.57 lakhs in the prior year quarter. The company had no income from operations or other income during the period. The Board of Directors approved the unaudited financial results and the limited review report from statutory auditors Patkar & Pendse Chartered Accountants on August 11, 2026.

For the full fiscal year FY26, the company reported a net loss of ₹491.22 lakhs, compared to a loss of ₹201.77 lakhs in FY25. The annual loss widened due to significant tax adjustments, including deferred tax credits of ₹458.96 lakhs and tax provisions for earlier years of ₹220.04 lakhs.

Shareholder Action Required

Pursuant to SEBI Circular No. HO/38/13/11(2)2026-MIRSD-POD/I/3750/2026 dated January 30, 2026, shareholders are informed that the special window for transfer and dematerialization of physical securities that were sold or purchased before April 1, 2019, will remain open till February 4, 2027. This facility is available only for cases where earlier transfer requests were submitted before April 1, 2019, and were rejected, returned, or not processed due to documentation or procedural deficiencies.

Eligible shareholders wishing to avail this facility may contact the company’s Registrar and Share Transfer Agent, Purva Shareregistry (India) Private Limited, at their office situated at 9, Shiv Shakti Industrial Estate, J. R. Boricha Marg, Lower Parel (E), Mumbai – 400011.

Director Re-appointments

The Board proposed the re-appointment of three directors, subject to shareholder approval at the ensuing Annual General Meeting:

• Nihal Doshi: Re-appointed as Executive Director for three years, commencing January 01, 2027. He is the son of Chairman & Managing Director Harshavardhan B. Doshi.
• Rajiv Jain: Re-appointed as Independent Director for a second term from September 16, 2026, to February 03, 2031.
• Subodh Mawalankar: Re-appointed as Independent Director for a second term from February 11, 2027, to February 10, 2032.

Legal and Regulatory Contingencies

The company faces several ongoing disputes that have resulted in contingent liabilities but no additional provisions in the current quarter, in accordance with Ind AS 37:

1. Gratuity Claim: A legal claim regarding gratuity payments to 21 former seasonal workers, estimated at ₹28.23 lakhs plus interest of ₹33.87 lakhs by the Second Labour Court, Nashik. The company has deposited ₹63.14 lakhs as security and filed an appeal.
2. Water Charges: A recognized liability of ₹7.59 lakhs for water charges from 2020 onwards. The company disputes a further demand of ₹8.20 lakhs (₹7.36 lakhs industrial, ₹0.84 lakhs domestic) from the Water Resources Department, Government of Maharashtra.
3. Property Tax: A demand of ₹278.93 lakhs by Gram Panchayat, Ravalgaon. The company deposited ₹69.87 lakhs under protest and filed an appeal. An interim order in February 2026 stayed the Zilla Parishad order.
4. Electricity Duty: The Supreme Court overturned a Bombay High Court judgment in March 2026 regarding electricity duty exemptions. No specific liability has been communicated by the Government of Maharashtra yet.

What the Numbers Show

The company’s operational inactivity is evident from zero revenue from operations for the fourth consecutive quarter since the sale of its core assets. The widening net loss in Q1FY27, despite stable depreciation charges, highlights the impact of rising finance costs and other administrative expenses on the company’s cash position. With no operating segments, the company’s financial performance is now entirely dependent on managing these fixed costs and resolving long-standing legal contingencies.