Vishwaraj Sugar Industries Limited , a key player in the Indian sugar industry, has released its financial results for the second quarter of fiscal year 2026, ending September 30, 2025. The company reported a net loss of Rs 1,436.57 lakhs, showing an improvement from the net loss of Rs 2,174.09 lakhs in the same period last year.

Financial Performance

The company's financial performance for Q2 FY2026 reflects the challenging conditions in the sugar industry:

The revenue from operations saw a significant decline of 40.68% year-over-year, dropping to Rs 5,503.99 lakhs from Rs 9,278.44 lakhs in the previous year. Despite the revenue contraction, the company managed to reduce its net loss by 33.92% compared to the same quarter last year.

Industry Context

The sugar industry's seasonal nature significantly impacts quarterly performance. As noted in the company's disclosure, sugar production is cyclical, and the performance of a single quarter may not be indicative of the full year's trend.

Corporate Governance

The financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on November 13, 2025. The company has complied with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency in its financial reporting.

Looking Ahead

Vishwaraj Sugar Industries faces ongoing challenges in the sugar sector. The company's ability to navigate these difficulties while improving its bottom line will be crucial for its future performance. Investors and stakeholders will likely keep a close eye on the company's strategies to boost revenue and further reduce losses in the coming quarters.

The company's financial results are available on the portals of BSE Ltd., National Stock Exchange of India Ltd., and on the company's website for further details and analysis.

Vishwaraj Sugar Industries Limited held its 30th Annual General Meeting (AGM) on September 24, 2025, at the company's registered office in Bellad Bagewadi, Karnataka. The meeting saw strong shareholder participation, with 154,837 shareholders on record and 82 members present in person or by proxy.

Key Approvals

Shareholders approved all ten resolutions presented at the AGM, demonstrating their confidence in the company's leadership and strategic direction. The approved resolutions included:

1. Adoption of audited financial statements for the year ended March 31, 2025
2. Re-appointment of Nikhil Katti as Managing Director
3. Ratification of cost auditors' remuneration for 2025-26
4. Appointment of Vinita D. Modak as Secretarial Auditor for a five-year term (2025-30)
5. Appointment of Mallikarjun Kadayya Pujar as Whole-Time Director for three years from July 16, 2025
6. Re-appointment of Vishnukumar Kulkarni as Independent Director for a second five-year term from July 17, 2025
7. Re-appointment of Sneha Nithin Dev as Whole-Time Director for three years from October 15, 2025
8. Approval for Lava Katti to hold office of profit as Chief Operating Officer
9. Approval for Shruti Katti to hold office of profit as Chief Administrative Officer

Board Composition and Remuneration

The AGM saw several changes to the company's board and executive team. Notably, Mallikarjun Kadayya Pujar was appointed as a Whole-Time Director, strengthening the company's leadership. The re-appointments of Vishnukumar Kulkarni as Independent Director and Sneha Nithin Dev as Whole-Time Director ensure continuity in governance and operations.

Shareholders also approved the holding of office of profit by Lava Katti as Chief Operating Officer and Shruti Katti as Chief Administrative Officer, both at an initial remuneration of Rs. 45.50 lakh per annum, with a cap of Rs. 75.00 lakh per annum.

Shareholder Participation

The meeting saw active participation from shareholders, with a total voting participation of 27.95% of outstanding shares. The promoter group, holding 63.25 million shares, showed strong support for all resolutions. Public non-institutional shareholders, holding 143.05 million shares, also participated in the voting process.

Corporate Governance

In line with best practices in corporate governance, the company appointed Vinita D. Modak as Secretarial Auditor for a five-year term. This appointment is expected to enhance the company's compliance and reporting standards.

Vishwaraj Sugar Industries' Chairman and Managing Director, Nikhil Katti, presided over the meeting. The company ensured compliance with all applicable rules, regulations, and circulars issued by authorities, including providing remote e-voting facilities to shareholders.

The AGM's proceedings and the approval of all resolutions indicate strong shareholder support for Vishwaraj Sugar Industries' management and strategic direction. The company appears well-positioned to continue its growth trajectory in the sugar industry.