Zuari Industries returned to profitability in FY26, reporting a consolidated net profit of ₹105.8 crore against a net loss of ₹94.4 crore in the previous year. The turnaround was driven by improved operational efficiencies, financial discipline, and a reduction in borrowing costs. The Board of Directors, meeting on May 25, 2026, approved the audited standalone and consolidated financial results and recommended a final dividend of ₹1 per equity share. The company filed a revised investor presentation with exchanges on May 26, 2026, superseding the previous day's submission. Additionally, the company confirmed that newspaper publications for the audited financial results were released on May 26, 2026, in Business Standard and Lokmat, pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The statutory auditors, V. Sankar Aiyar & Co., issued an unmodified opinion on the audited financial results.

Q4 Performance

Zuari Industries reported notable quarterly momentum, with Q4 EBITDA rising to ₹423 million compared to ₹276 million in the same period last year, reflecting a significant improvement in operational profitability. The Q4 EBITDA margin expanded to 14.93% from 10.14% year-on-year, underscoring improved cost efficiencies. Q4 consolidated revenue grew to ₹2.83 billion from ₹2.7 billion year-on-year. However, the company reported a Q4 consolidated net loss of ₹316 million, widening from a net loss of ₹207 million in the corresponding period of the previous year.

The key Q4 metrics are summarised below:

Full Year Financial Performance

For the full year, the company posted a consolidated total income of ₹1,155.1 crore, up from ₹1,082.5 crore in FY25. Consolidated EBITDA rose 12.20% year-on-year to ₹181.0 crore. On a standalone basis, Zuari Industries reported a net profit of ₹12.1 crore for the year, recovering from a net loss of ₹37.4 crore in FY25. Standalone EBITDA increased 6.80% to ₹191.5 crore, while total income rose to ₹994.9 crore from ₹979.9 crore.

Operational Highlights

The Sugar, Power & Ethanol (SPE) division delivered strong operational performance, achieving its highest-ever seasonal crush of 163.7 lakh quintals. Total cane crush for FY26 stood at 159.7 lakh quintals as against 157.2 lakh quintals in FY25. Ethanol production increased by 10.10% year-on-year to 37,276 KL. Zuari Infraworld India Limited's real estate project, The St. Regis Residences in Dubai, achieved approximately 98% completion, with handovers scheduled from June 2026. Simon India Limited strengthened its execution capabilities, with EBITDA improving to ₹6.8 crore compared to ₹0.9 crore in FY25.

Dividend and Appointments

The Board recommended a final dividend of ₹1 per equity share of ₹10 each, subject to shareholder approval at the upcoming Annual General Meeting. Directors approved the re-appointment of Mr. Alok Saxena (DIN: 08640419) as Whole Time Director and Key Managerial Personnel designated as Executive Director for a period of two years, effective from July 1, 2026, to June 30, 2028.

Zuari Industries Limited has published the notice for its postal ballot process in newspapers on 30 May 2026. The publication appeared in Business Standard (All India editions, English) and Lokmat Goa (Regional language newspaper). The notice seeks shareholder approval for four key resolutions, including the re-appointment of Mr. Alok Saxena as Executive Director and an increase in the company's borrowing powers.

The remote e-voting facility is scheduled to commence on 30 May 2026 and conclude on 28 June 2026, with the results expected to be announced on or before 30 June 2026. The Board has proposed the re-appointment of Mr. Alok Saxena (DIN: 08640419) as Whole Time Director and Key Managerial Personnel designated as Executive Director for a further period of two years, effective from 1 July 2026 to 30 June 2028. His remuneration package includes a basic salary of ₹4,42,917 per month, a conveyance allowance of ₹1,18,556 per month, and a performance-linked variable pay of ₹88,828 per month, among other perquisites.

To bolster financial flexibility, the company seeks approval to increase its borrowing powers. The proposed resolution authorizes the Board to borrow monies exceeding the aggregate of the paid-up share capital, free reserves, and securities premium, up to a limit of ₹2,100 crore. This supersedes the previous approval of ₹2,000 crore granted via a postal ballot on 28 August 2020.

Shareholders are also asked to approve the creation of charges on the company's movable and immovable assets to secure these borrowings. Additionally, the notice includes an ordinary resolution for material related party transactions with Zuari Envien Bioenergy Private Limited, a joint venture, for an aggregate value not exceeding ₹163.44 crore during the Financial Year 2026-27.

Ms. Aditi Gupta of M/s Aditi Agarwal & Associates has been appointed as the Scrutinizer to oversee the postal ballot process. The cut-off date for determining shareholder eligibility is Friday, 22 May 2026. The company has engaged National Securities Depository Limited (NSDL) to facilitate the remote e-voting process, with the e-voting event number listed as 139476.

Key Resolutions for Shareholder Approval