Shree Hanuman Sugar & Industries Limited has formally notified BSE about its upcoming 16th Committee of Creditors (CoC) meeting, scheduled as part of the company's ongoing Corporate Insolvency Resolution Process (CIRP). The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Meeting Details and Logistics

The 16th CoC meeting is scheduled to take place on Tuesday, March 17, 2026, at 4:00 PM. The company has arranged for both physical and virtual participation options to ensure comprehensive stakeholder engagement.

Corporate Insolvency Resolution Process

The meeting is being conducted under the provisions of the Insolvency and Bankruptcy Code, 2016, focusing on discussions related to the ongoing CIRP of the company. The Committee of Creditors plays a crucial role in the insolvency resolution process, making key decisions regarding the company's future and potential resolution plans.

Resolution Professional Sandeep Khaitan, registered with IBBI (Reg. No.-IBBI/IPP-P00532/2017-18/10957), issued the intimation on behalf of Shree Hanuman Sugar and Industries Limited. The notification ensures compliance with SEBI's listing regulation requirements for companies undergoing insolvency proceedings.

Company Background

Shree Hanuman Sugar & Industries Limited operates from its registered office at Premises No. 9, Ground Floor, Vasundhara Building, 2/7, Sarat Bose Road, Kolkata - 700 020, West Bengal. The company, incorporated in 1932 with CIN L15432WB1932PLC007276, is listed on BSE under the code 537709.

Shree Hanuman Sugar & Industries Limited has announced its unaudited financial results for the quarter ended December 31, 2025, revealing continued operational challenges as the company navigates through the Corporate Insolvency Resolution Process (CIRP). The sugar manufacturer reported a net loss of ₹18.68 lakhs for the third quarter of FY26, highlighting the financial difficulties faced by the company.

Financial Performance Overview

The company's quarterly performance showed minimal revenue generation with total income reaching ₹3.66 lakhs for Q3 FY26, compared to zero income in the corresponding quarter of the previous year. However, operational expenses significantly outweighed income, leading to substantial losses.

Operational Challenges and CIRP Status

The company has been operating under the CIRP framework since September 27, 2024, following an order from the Hon'ble NCLT Kolkata Bench. The insolvency proceedings were initiated by Stress Assets Stabilization Fund, invoking corporate guarantee in the matter of Eastern Sugar & Industries Limited. Mr. Sandeep Khaitan, initially appointed as Interim Resolution Professional, was later confirmed as the Resolution Professional during the first Committee of Creditors meeting held on October 28, 2024.

Business Segment Performance

The company operates in two primary segments - sugar and construction. However, only the sugar segment showed any activity during the reporting period. The segment-wise analysis revealed that the sugar division generated the entire income of ₹3.66 lakhs for Q3 FY26 while also accounting for the complete loss of ₹18.68 lakhs.

Mill Operations and Future Outlook

A critical factor affecting the company's performance is the non-operational status of its sugar mill located in Motihari, Bihar. The facility remains closed due to multiple challenges including cost ineffectiveness resulting from outdated plant and machinery, severe financial constraints, and ongoing labor unrest at the mill. These operational disruptions have significantly impacted the company's ability to generate meaningful revenue from its core sugar manufacturing business.

Regulatory Compliance and Audit Opinion

The financial results were reviewed by BDS & CO., Chartered Accountants, who issued a qualified opinion due to going concern issues arising from the company's admission into the insolvency process. The auditors noted that while the financial statements have been prepared on a going concern basis as per Indian Accounting Standard-1, the CIRP proceedings raise significant concerns about the company's ability to continue operations. The Committee of Creditors reviewed and took note of these financial results during their meeting held on February 12, 2026, which commenced at 6:45 PM and concluded at 7:15 PM.