Dhampur Sugar Mills Limited has submitted a Chief Financial Officer certificate confirming the proper utilization of Commercial Paper proceeds for the quarter ended December 31, 2025, in compliance with SEBI regulations. This development follows the company's earlier announcement regarding the maturity of its ₹100 crore Commercial Paper.

SEBI Compliance Certificate

The company's CFO, Susheel Kumar Mehrotra, issued the mandatory certificate on January 1, 2026, pursuant to SEBI Circular No. SEBI/HO/DDHS/P/CIR/2021/613 updated as on April 13, 2022. The certificate confirms that Commercial Paper proceeds were used for disclosed purposes and all listing conditions were adhered to during Q3FY26.

Commercial Paper Maturity Details

The company had previously announced the record date for the maturity of its Commercial Paper worth ₹100 crores. The CP maturity process is scheduled with specific timelines for investor compliance.

Regulatory Communication

Both communications were addressed to the National Stock Exchange of India Limited and BSE Limited, maintaining transparency with regulatory authorities. Company Secretary Aparna Goel (Membership No. 22787) signed the intimations, ensuring proper corporate governance protocols.

The CFO certificate represents mandatory quarterly compliance for companies that have issued Commercial Papers, demonstrating the company's adherence to SEBI's disclosure requirements and proper fund utilization practices.

Dhampur Sugar Mills has announced its financial results for the second quarter ended September 30, 2025, showing improved performance despite posting a net loss. The company demonstrated resilience in challenging market conditions while pursuing strategic growth initiatives.

Financial Performance Overview

The company's consolidated financial results for Q2 FY26 reflect a mixed performance with significant improvements in key metrics:

Segment-wise Performance

Dhampur Sugar Mills operates across multiple business segments, each contributing differently to the overall performance:

The potable spirits and ethanol segments showed particularly strong growth, reflecting the company's diversification strategy beyond traditional sugar operations.

Strategic Acquisition Initiative

In a significant corporate development, Dhampur Sugar Mills executed a Share Purchase Agreement on October 28, 2025, to acquire 51% stake in Venus India Asset-Finance Private Limited. The acquisition involves purchasing 4,72,87,537 equity shares from Venus India Structured Finance Master Limited, subject to regulatory approvals from the Reserve Bank of India and completion of specified conditions.

Financial Position and Liquidity

The company's balance sheet shows substantial changes from the previous year:

Commercial Paper and Credit Rating

Dhampur Sugar Mills maintains commercial paper listings on the Bombay Stock Exchange with an IND A1+ credit rating. As of September 30, 2025, the company had ₹200 crores outstanding in commercial papers, with repayment schedules of ₹100 crores each on October 10 and October 13, 2025.

Industry Context and Outlook

The sugar industry continues to face seasonal challenges, with the company noting that quarterly performance may not represent annual results due to the seasonal nature of sugar operations. The UP Government's redetermination of lower levy molasses obligation for 2024-25 positively impacted results by ₹1.72 crores during the quarter.

Despite posting losses, the company's revenue growth across multiple segments and strategic acquisition plans indicate management's focus on diversification and long-term value creation in the challenging sugar industry environment.