The Ugar Sugar Works Limited returned to profitability in Q1FY26, reporting a standalone net profit after tax (PAT) of ₹1.50 crore, compared to a net loss of ₹13.70 crore in Q1FY25. The company's revenue from operations rose 32% year-on-year to ₹481 crore, up from ₹3.64 billion in the same period last year. This turnaround marks a significant shift from the previous quarter ended March 31, 2026, where the company reported a PAT of ₹45.76 crore, indicating a seasonal normalization in earnings.

The Board of Directors approved the unaudited financial results on August 5, 2026, during a meeting held at Ugar Khurd. The results were reviewed by the Audit Committee and comply with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Kirtane & Pandit LLP, the independent auditors, issued a review report stating that nothing came to their attention to suggest the statement contained material misstatements. The company noted that its main business is seasonal, and current period figures are not indicative of annual results.

Segment Performance Drivers

The industrial alcohol segment was the primary contributor to the quarterly profit, generating a segment result of ₹35.02 crore before interest and tax. This contrasts sharply with the same segment's loss of ₹16.76 crore in Q4FY26 and a profit of ₹17.50 crore in Q1FY25. Sugar operations contributed ₹3.91 crore to the pre-tax result, while co-generation incurred a loss of ₹8.96 crore. Potable alcohol also reported a minor loss of ₹0.11 crore.

The following table summarises segment-wise revenue and pre-tax results for the quarter:

Total segment revenue stood at ₹514.39 crore, with inter-segment revenue amounting to ₹33.45 crore. After deducting finance costs of ₹18.47 crore and other unallocable expenditures of ₹12.51 crore, the company achieved a pre-tax profit of ₹1.04 crore.

Key Financial Metrics

The table below highlights key financial metrics for the quarter on a year-on-year basis:

Earnings per share (EPS) for the quarter stood at ₹0.13, compared to a loss per share of ₹1.22 in Q1FY25. Total comprehensive income for the period was ₹0.34 crore, reflecting a negative other comprehensive income of ₹1.15 crore. Total assets decreased to ₹1,119.05 crore from ₹1,304.23 crore as of March 31, 2026, largely due to a reduction in sugar segment assets. Liabilities also contracted to ₹272.93 crore from ₹393.23 crore. The company has no subsidiaries, associate companies, or joint ventures as of June 30, 2026.

What the Numbers Show

The reversal to profitability is heavily dependent on the industrial alcohol segment, which swung from a significant loss in the preceding quarter to the largest profit contributor in Q1FY26. This volatility highlights the cyclical nature of the company's diversified portfolio. While sugar operations remained profitable, their contribution was modest compared to the previous year's high base. The company explicitly stated the results are not indicative of annual performance due to the seasonal nature of sugar production.

Ugar Sugar Works Limited held its 86th Annual General Meeting (AGM) on August 5, 2026, where shareholders approved the reappointment of two retiring directors and adopted the company’s financial results for the fiscal year ended March 31, 2026. The meeting, conducted through Video Conferencing/OAVM with the registered office in Sangli, Maharashtra, as the venue, also included the declaration of dividend and the ratification of cost auditor remuneration for the upcoming financial year.

The proceedings were conducted in compliance with Regulation 30 read with Schedule III (Part A)(13) of the SEBI (LODR) Regulations, 2015. Remote e-voting was facilitated by NSDL Limited from August 1 to August 4, 2026. The Board of Directors sought approval for ordinary and special business items, ensuring statutory compliance regarding director retirements by rotation and auditor appointments.

Key Resolutions Passed

The shareholders voted on several key agenda items during the AGM. The primary outcomes include the adoption of financial statements and the continuity of board leadership.

Shishir S. Shirgaokar (DIN: 00166189) and Shilpa Kumar (DIN: 02404667) retired by rotation and offered themselves for reappointment. The shareholders approved their continuation in office. Additionally, a special resolution was passed to continue Mr. Shishir Shirgaokar’s directorship as a non-executive director liable to retire by rotation.

Governance and Compliance

The company reported that the scrutinizer would submit the report on remote e-voting and e-ballot results within 48 hours of the AGM. Upon receipt, the results were communicated to the National Stock Exchange of India Ltd and BSE Ltd. The resolutions were deemed passed on the date of the AGM, subject to the requisite number of votes.

Tushar V Deshpande, Company Secretary (M. No: A45586), certified the proceedings. The meeting addressed all statutory requirements under the Companies Act and SEBI regulations, including the review of Corporate Governance and Business Responsibility and Sustainability Reporting (BRSR).