Zuari Industries Limited's Sugar, Power & Ethanol (SPE) Division has achieved a remarkable operational milestone by recording its highest-ever sugarcane crushing volume of 159.7 lakh quintals in FY26. This achievement surpasses the company's previous record of 157.2 lakh quintals achieved in FY25, demonstrating consistent operational improvement and enhanced manufacturing capabilities.

Record-Breaking Performance

The SPE Division's exceptional performance was driven by multiple operational improvements including enhanced efficiency, higher capacity utilization, increased cane availability, and an early start to the crushing cycle. The achievement reflects the division's strengthened agricultural sourcing capabilities and optimized mill operations.

Management Commentary

Mr. Athar Shahab, Managing Director of Zuari Industries Limited, emphasized the significance of this milestone: "This milestone reflects consistent improvement in our operations and the discipline we are building across the SPE Division. Our focus is on sustaining this performance and strengthening execution."

Mr. Alok Saxena, Executive Director & Unit Head of SPE Division, highlighted the operational drivers: "The performance this season is driven by stronger engagement with farmers and improvements in field practices. Our teams have supported growers with better crop management and varietal adoption to improve yields and supply. At the mill, tighter operational planning helped us maintain efficient capacity utilisation."

Strategic Outlook

The mill is expected to gain a head start for FY27 with plans to extend crushing operations into April. This strategic approach positions the company favorably for the upcoming season and demonstrates the division's commitment to maximizing operational efficiency.

This milestone sets a new benchmark for the unit and reinforces Zuari Industries' continued focus on operational discipline across its Sugar, Power & Ethanol division. The company operates integrated facilities for sugar production, green power generation, and biofuels, supporting India's energy transition and agri-based economy.

Zuari Industries Limited announced the outcome of its Board of Directors meeting held on February 13, 2026, approving unaudited financial results for Q3FY26 and significant management changes under SEBI regulations.

Board Meeting Outcomes

The Board meeting, which commenced at 2:45 PM and concluded at 4:14 PM on February 13, 2026, addressed three key agenda items. The directors considered and approved unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, with statutory auditors M/s V Sankar Aiyar & Co. issuing limited review reports.

Q3FY26 Financial Performance

The company reported mixed consolidated results for Q3FY26, with revenue growth offset by increased losses. Total income reached ₹30,148.83 lakhs compared to ₹27,407.23 lakhs in the corresponding quarter of the previous year, representing a 10.00% increase.

Nine Months Performance Highlights

For the nine months period ended December 31, 2025, the company demonstrated significant improvement with consolidated revenue reaching ₹76,126.53 lakhs compared to ₹69,806.58 lakhs in the previous year. The company achieved a remarkable turnaround with net profit of ₹13,739.21 lakhs compared to a loss of ₹7,362.09 lakhs in the corresponding period last year.

Leadership Transition Details

The Board approved significant changes in key management personnel following recommendations from the Nomination and Remuneration Committee and Audit Committee. Mr. Nishant Dalal resigned from his position as Chief Financial Officer and Key Managerial Personnel effective from the close of business hours on February 27, 2026, to pursue opportunities outside the organization.

Mr. Jatin Jain, a Chartered Accountant with over 14 years of experience in Finance & Accounts, has been appointed as the new Chief Financial Officer and Key Managerial Personnel effective from February 28, 2026. His expertise encompasses financial reporting, planning, budgeting, costing, and treasury management.

Segment-wise Performance Analysis

The company's diversified business portfolio showed mixed performance across segments during Q3FY26, with challenges across most business verticals:

Earnings Conference Call Audio Recording

Pursuant to Regulation 30 of SEBI Listing Regulations, the company has made available the audio recording of its earnings conference call held on February 16, 2026. The call discussed the unaudited financial results for the quarter and nine months ended December 31, 2025, with the recording accessible on the company's website at zuariindustries.in.

Regulatory Compliance and Key Management Personnel

Pursuant to Regulation 30(5) of SEBI Listing Regulations, the company updated its list of Key Managerial Personnel authorized to determine materiality of events and make disclosures to stock exchanges. The revised list effective from February 28, 2026, includes Mr. Athar Shahab as Managing Director, Mr. Alok Saxena as Whole-time Director, Mr. Jatin Jain as Chief Financial Officer, and Mr. Yadvinder Goyal as Company Secretary & Compliance Officer.

The financial results were prepared in accordance with Indian Accounting Standards and comply with SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company continues to navigate seasonal variations in its sugar business, with crushing operations typically occurring between October and May while sales continue throughout the year.