Riga Sugar Q1 Results: Net loss widens to ₹6.55 crore as revenue jumps

2 min read Updated on 13 Aug 2026, 03:40 PM

Reviewed by

Riya DScanX News Team

AI Summary

Riga Sugar Co Ltd posted a Q1FY27 net loss of ₹6.55 crore on revenue of ₹29.35 crore, up 364% YoY. Expenses outpaced revenue growth, driven by inventory changes. The board also approved shifting the registered office to Karnataka and appointed new internal and secretarial auditors.

*this image is generated using AI for illustrative purposes only.

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 company also announced strategic administrative changes, including the shifting of its registered office from West Bengal to Karnataka.

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.

Metric	Q1FY27 (₹ cr)	Q1FY26 (₹ cr)	Change
Revenue from Operations	29.35	6.33	+364%
Total Expenses	35.82	6.36	+463%
Profit Before Tax	-6.46	-0.03	Widened
Net Profit / (Loss)	-6.55	1.25	Turned to Loss

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.

Will the relocation of the registered office to Karnataka provide tangible tax or operational advantages that help offset the current margin pressures?

How sustainable is the 364% revenue growth trajectory given that expenses rose at a faster rate of 463% in the same period?

What specific strategies is management implementing to reduce the significant ₹27.49 crore expense attributed to inventory valuation adjustments?

Read Next Article

Riga Sugar appoints Saurav Singh as Company Secretary and Compliance Officer

1 min read Updated on 30 Jul 2026, 10:23 PM

Reviewed by

Suketu GScanX News Team

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Riga Sugar Co Ltd appointed Saurav Singh as Company Secretary and Compliance Officer effective August 01, 2026. The Board approved the full-time role on July 30, 2026, following NRC recommendations. Singh brings seven years of compliance experience from firms like PG Electroplast and Honasa Consumer.

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Riga Sugar Co Ltd, a wholly owned subsidiary of Nirani Sugars Limited, has appointed Saurav Singh as its Company Secretary and Compliance Officer, effective August 01, 2026. The Board of Directors approved the appointment on July 30, 2026, acting on the recommendation of the Nomination and Remuneration Committee. This hiring strengthens the company’s compliance framework under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Board meeting, held on July 30, 2026, commenced at 05:50 pm IST and concluded at 6:15 pm IST. The company disclosed the appointment to BSE Limited, citing Scrip Code 507508. The disclosure aligns with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Vishal Nirani, Managing Director, signed the intimation.

Appointment Details

Saurav Singh joins as a Key Managerial Personnel on a full-time employment basis. He holds ICSI Membership No. A63910 as an Associate Member of the Institute of Company Secretaries of India and possesses an LL.B. degree. His profile highlights over seven years of experience in secretarial, listing, and legal compliance within top 500 listed companies.

Particulars	Details
Appointee	Saurav Singh
Designation	Company Secretary and Compliance Officer
Effective Date	August 01, 2026
Term	Full-time Employment
Qualification	Associate Member, ICSI (A63910); LL.B.

Prior to joining Riga Sugar Co Ltd, Singh was associated with PG Electroplast Limited, Honasa Consumer Limited (Mamaearth), and Le Travenues Technology Limited (IXIGO). His experience spans compliance with the Companies Act, 2013, SEBI Regulations, and the broader listing framework.

Updated Key Managerial Personnel

Consequent to this appointment, the company updated the contact details for Key Managerial Personnel authorized to determine materiality and make disclosures under Regulation 30(5) of the SEBI Listing Regulations. The authorized personnel include:

Vishal Nirani, Managing Director
Saurav Singh, Company Secretary and Compliance Officer

The disclosure will be hosted on the company’s website, www.rigasugar.com .

How might Saurav Singh's extensive experience with high-growth consumer and tech companies like Mamaearth and IXIGO influence Riga Sugar's approach to regulatory compliance and corporate governance?

Does the appointment of a new Compliance Officer signal any upcoming strategic shifts or restructuring within Nirani Sugars Limited's subsidiary operations?

What specific compliance challenges in the sugar sector is Riga Sugar aiming to address by strengthening its framework under Regulation 30 of the SEBI Listing Regulations?