Riga Sugar Co. Limited has scheduled its 42nd Annual General Meeting (AGM) for Tuesday, September 15, 2026, at 12:00 pm. The meeting will be conducted through video conferencing or other audio-visual means, with the deemed venue at the company's registered office in Kolkata.

The primary agenda includes the adoption of the audited standalone financial statements for FY26 and the re-appointment of directors retiring by rotation. Shareholders can participate remotely without physical presence at a common venue.

Meeting Details

The AGM aims to transact businesses outlined in the convening notice. Riga Sugar Co. Limited operates as a wholly owned subsidiary of Nirani Sugars Limited. The session seeks shareholder approval for key governance matters and financial outcomes from the fiscal year ended March 31, 2026.

E-Voting Process

Members can cast votes electronically using the InstaVote platform provided by MUFG Intime India Private Limited. Remote e-voting begins at 9:00 am on September 12, 2026, and ends at 5:00 pm on September 14, 2026.

The cut-off date to determine voting eligibility is September 11, 2026. Only members appearing in the Register of Members or depository records on this date can vote. Those who vote remotely cannot vote again during the AGM.

Document Access

The notice and annual report for FY26 are available electronically. Shareholders with registered email addresses receive these documents directly. Others get a letter with web links. Physical copies are available upon request via email.

Riga Sugar Co Limited reported a net loss of ₹6.55 crore for the quarter ended June 30, 2026, reversing from a net profit of ₹1.25 crore in the corresponding quarter of FY25. Despite a sharp rise in top-line growth, the company faced margin pressure due to elevated expenses relative to income.

The Board of Directors approved the unaudited standalone financial results on August 13, 2026. Statutory auditors YCRJ & Associates issued an unmodified limited review report on the financials. The results were published in newspapers on August 14, 2026, pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

Revenue from operations surged 364% year-on-year to ₹29.35 crore, up from ₹6.33 crore in Q1FY26. This represents a substantial increase in operational scale compared to the prior year period. However, total expenses stood at ₹35.82 crore, exceeding total income of ₹29.35 crore.

The profit before tax was negative at ₹6.46 crore, compared to a marginal loss of ₹0.03 crore in the previous year’s quarter. Earnings per share stood at a loss of ₹4.53, down from earnings of ₹0.87 in Q1FY26.

What the Numbers Show

A critical divergence exists between revenue growth and expense management. While revenue increased by ₹23.02 crore year-on-year, total expenses rose by ₹29.46 crore. Specifically, changes in inventories contributed ₹27.49 crore to expenses in Q1FY27, compared to ₹4.05 crore in Q1FY26. This suggests that a significant portion of the current period's cost structure is tied to inventory valuation adjustments rather than direct material consumption, which remained low at ₹0.05 crore.

Corporate Developments

The Board approved several key administrative appointments and structural changes:

• Internal Auditor: Mahendra H. & Company appointed for FY27. CA Mahendra H. brings over 15 years of experience in the sugar and ethanol sectors.
• Secretarial Auditor: CS Shashi Shekhar appointed for a five-year term commencing April 1, 2026, subject to shareholder approval.
• Registered Office Shift: The Board approved moving the registered office from West Bengal to Karnataka. A corporate office will be established in Bengaluru.
• AGM: The 42nd Annual General Meeting is scheduled for September 15, 2026, to be held via video conferencing.