Shree Renuka Sugars Limited, a Wilmar Group company and one of India's largest sugar producers and refiners, reported audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The Board of Directors approved the results at its meeting held on May 8, 2026, following a review by the Audit Committee on May 7, 2026. The statutory auditors, S R B C & CO LLP, issued audit reports with unmodified opinions on both standalone and consolidated financial results. Subsequently, pursuant to Regulation 47 and 52(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company submitted newspaper publications of the audited standalone and consolidated financial results — published in Financial Express (English) and Kannada Prabha (Kannada) on May 10, 2026 — to the National Stock Exchange of India Limited and BSE Limited.

Consolidated Financial Performance

On a consolidated basis, the company recorded a significantly wider net loss for FY26 compared to the previous year. Total revenue from operations declined to INR 91,689 million from INR 109,143 million in FY25, while total income fell to INR 93,053 million from INR 110,409 million. Total expenses stood at INR 101,776 million against INR 114,035 million in the prior year.

For the quarter ended March 31, 2026, consolidated revenue stood at INR 25.4B compared to INR 27B in the corresponding prior-year quarter. The consolidated loss before tax for the quarter was INR 1,532 million, compared to a profit before tax of INR 909 million in the quarter ended March 31, 2025. Net loss for the quarter stood at INR 1,214 million versus a net profit of INR 916 million in the corresponding prior-year quarter.

Standalone Financial Performance

The standalone results also reflected a deterioration in performance. Revenue from operations declined to INR 85,220 million in FY26 from INR 1,02,794 million in FY25. The standalone net loss for FY26 widened to INR 6,989 million from INR 2,558 million in FY25.

For the standalone quarter ended March 31, 2026, loss before tax was INR 1,754 million compared to a profit before tax of INR 659 million in the same quarter of the prior year.

Segment-Wise Performance

Across consolidated segments for FY26, the sugar refinery segment remained the largest revenue contributor at INR 61,022 million, though down from INR 74,912 million in FY25. The sugar milling segment reported revenue of INR 28,270 million versus INR 31,793 million in the prior year. The distillery segment generated INR 9,233 million compared to INR 10,094 million previously.

In terms of consolidated segment results (profit/loss before tax, finance cost, other income, and foreign exchange), the sugar refinery segment reported a profit of INR 1,137 million in FY26 versus INR 4,087 million in FY25. The sugar milling segment posted a loss of INR 851 million against a profit of INR 112 million in FY25. The engineering segment reported a loss of INR 449 million compared to a loss of INR 109 million in the prior year.

Balance Sheet and Going Concern

As at March 31, 2026, the standalone balance sheet reflected total assets of INR 71,570 million against INR 86,602 million in the prior year. Total standalone equity stood at INR (12,455) million, with standalone outstanding debt at INR 55,664 million compared to INR 44,702 million in FY25. On a consolidated basis, total assets were INR 74,124 million versus INR 88,377 million, and total consolidated equity was INR (26,766) million.

The company noted that as at March 31, 2026, current liabilities of the standalone entity exceeded current assets by INR 21,145 million, and the Group's current liabilities exceeded current assets by INR 34,066 million. The Group's negative net worth stood at INR 26,766 million. All term loans, External Commercial Borrowings, and working capital loans (except working capital loans of INR 18,111 million) are secured by a corporate guarantee from the ultimate holding company, Wilmar International Limited. Working capital loans of INR 11,996 million are secured by a charge against current assets and a letter of comfort from Wilmar International Limited. The Board of Directors of Wilmar Sugar and Energy Pte Ltd. has also provided a letter of support to meet shortfalls in normal trade-related working capital requirements. On this basis, the company and the Group have prepared their financial results on a going concern basis.

Impairment and Other Key Developments

During the quarter ended March 31, 2026, the company recognised an impairment loss of INR 2,948 million for its integrated milling division following an impairment assessment. Given that the company follows the revaluation model for property, plant and equipment and holds an existing revaluation surplus for this division, the impairment loss was accounted for as a revaluation decrease in Other Comprehensive Income. The amount of revaluation reserve as at March 31, 2026, on a standalone basis, was INR 5,613 million, and on a consolidated basis was INR 6,353 million.

Additionally, during the quarter ended March 31, 2026, the standalone entity recognised income of INR 353 million due to reversal of cane provisions determined by management as no longer payable, included in cost of materials consumed. The consolidated entity recognised INR 376 million on the same account. The asset cover for non-convertible debentures (NCDs) stood at 1.57, with NCDs secured by an exclusive charge on the movable and immovable assets of the Panchaganga and Haldia plants. The subsidiary in Ethiopia, Shree Renuka East Africa Agriventures PLC, was struck off by cancellation of its investment permit on March 17, 2026, following Board approval in February 2025; FEMA compliance procedures are ongoing.

Shree Renuka Sugars Limited has successfully concluded its postal ballot e-voting process, with shareholders approving all three proposed resolutions by requisite majority. The e-voting window remained open from Tuesday, 7th April 2026 at 9:00 A.M. (IST) and concluded on Wednesday, 6th May 2026 at 5:00 P.M. (IST), in accordance with the Postal Ballot Notice dated 17th March 2026. The results and the Scrutinizer's Report, both dated 6th May 2026, were submitted to BSE Limited and National Stock Exchange of India Limited pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Voting Participation Overview

The record date for determining eligible shareholders was Tuesday, 31st March 2026. A total of 7,55,767 shareholders were on record as of the record date. Voting was conducted exclusively through remote e-voting, facilitated by KFin Technologies Limited. The aggregate participation across all shareholder categories reached 65.81% of total outstanding shares of 2,12,84,89,773.

Resolution-wise Voting Results

All three resolutions were passed with requisite majority. The Scrutinizer, CS Gaurav Shrikant Kulkarni, Designated Partner of SKGK & Associates LLP, Company Secretaries, confirmed that the e-voting process was conducted in a fair and transparent manner. The detailed voting outcomes for each resolution are presented below.

Resolution 1 — Change in Designation of Mr. Atul Chaturvedi (Special Resolution)

Shareholders approved the change in designation of Mr. Atul Chaturvedi (DIN: 00175355) from Executive Chairman to Non-Executive Director of the Company.

Resolution 2 — Appointment of Mr. Susheel Kumar Kamboj as Director (Ordinary Resolution)

Shareholders approved the appointment of Mr. Susheel Kumar Kamboj (DIN: 09531602) as a Director of the Company.

Resolution 3 — Appointment of Mr. Susheel Kumar Kamboj as Managing Director & CEO (Special Resolution)

Shareholders approved the appointment of Mr. Susheel Kumar Kamboj (DIN: 09531602) as Managing Director & CEO of the Company for a period of 5 (Five) years, along with approval of his remuneration.

Scrutinizer's Findings and Compliance

CS Gaurav Shrikant Kulkarni (FCS No. 12834, CP No. 15459), Designated Partner of SKGK & Associates LLP, Company Secretaries, was appointed as Scrutinizer by the Board of Directors at its meeting held on 17th March 2026. The scrutiny was conducted pursuant to Section 108 and Section 110 of the Companies Act, 2013, and Rule 20 and Rule 22 of the Companies (Management and Administration) Rules, 2014. The Scrutinizer confirmed that all three resolutions — Resolution Nos. 1 to 3 — have been passed with requisite majority, with zero invalid votes recorded across all resolutions. All electronic data and relevant records relating to voting have been handed over to the Chairman for safe keeping.

The voting results and the Scrutinizer's Report are available on the Company's website at www.renukasugars.com and on the e-voting platform of KFin Technologies Limited at https://evoting.kfintech.com . The submission to the stock exchanges was made by Deepak Manerikar, Company Secretary, on 6th May 2026.