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).

Ugar Sugar Works Limited reported a net profit of ₹1,361.20 lakh for the financial year ended March 31, 2026, rebounding from a net loss of ₹1,624.95 lakh in the previous year. The company’s total revenue rose to ₹1,52,261.03 lakh from ₹1,42,080.56 lakh in the prior year, driven by increased operational output.

The company crushed 19.51 Lakh MT of sugarcane across its Ugar and Jewargi units, producing 19.97 Lakh quintals of sugar. Ethanol production reached 993.48 Lakh BL, up from 942.24 Lakh BL in the previous year. The recovery rates stood at 11.65% at Ugar and 10.68% at Jewargi.

Financial Performance

The turnaround in profitability was supported by a rise in total revenue and efficient cost management. Profit before tax and exceptional items was ₹1,673.51 lakh, compared to a loss of ₹2,211.11 lakh in FY25. Earnings per share (EPS) improved to ₹1.21 from a negative ₹1.44 in the previous year.

Operational Highlights

During the sugar season 2025-26, the Ugar unit operated for 121 days, crushing 15.50 Lakh MT of cane, while the Jewargi unit operated for 111 days, crushing 4.05 Lakh MT. The company also generated 1,968.56 Lakh KW of power and exported 763.96 Lakh KW to the grid.

The Board of Directors has recommended a dividend of 10%, amounting to ₹0.10 per share, for the financial year 2025-26. This marks a return to dividend distribution after a nil payout in the previous year.

Corporate Governance

The company’s statutory auditors, M/s. Kirtane & Pandit LLP, confirmed their eligibility for the financial year 2026-27. The Board has appointed M/s. Dhananjay V. Joshi & Associates as the Cost Auditor for FY27, subject to shareholder ratification. The company remains compliant with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.