ZR2 Bioenergy Limited (formerly Gujchem Distillers India Limited) has announced its unaudited financial results for the quarter ended December 31, 2025, demonstrating a remarkable turnaround in financial performance. The Board of Directors approved these results on February 14, 2026, following comprehensive review by the Audit Committee and statutory auditors.

Quarterly Financial Performance

The company's standalone financial results for Q3FY26 show significant improvement across key metrics. Total income for the quarter reached ₹41.63 lakhs, comprising entirely of other income, as the company reported no revenue from operations during this period.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, ZR2 Bioenergy demonstrated sustained profitability with total income of ₹140.01 lakhs and a net profit of ₹80.96 lakhs, compared to a loss of ₹2.30 lakhs in the corresponding period of the previous year.

Consolidated Results

The consolidated financial results, which include the wholly-owned subsidiary ZR2 Solar Private Limited, show similar positive trends. Consolidated profit for Q3FY26 stood at ₹22.88 lakhs compared to a loss of ₹26.35 lakhs in Q3FY25. The nine-month consolidated profit reached ₹80.54 lakhs.

Corporate Developments

Several significant corporate developments have shaped the company's transformation:

• Change of Control: ZR2 Group Holdings Limited acquired 21,77,110 equity shares (61% stake) from previous management on December 31, 2024, becoming the new promoter
• Subsidiary Formation: ZR2 Solar Private Limited was incorporated on October 4, 2024, to operate renewable energy business including solar, wind, and hydropower
• Capital Raising: The company issued 2,59,22,000 convertible warrants and 1,23,50,000 compulsory convertible debentures at ₹65 per unit during Q2FY25

Financial Structure

The company maintains a paid-up equity share capital of ₹35.69 lakhs with face value of ₹1 each. Other equity stands at ₹13,897.76 lakhs as of March 31, 2025. The financial results have been prepared in accordance with Indian Accounting Standards and subjected to limited review by statutory auditors Bagaria & Co., LLP.

Outlook

With the strategic shift towards renewable energy through its subsidiary and improved operational efficiency reflected in reduced expenses, ZR2 Bioenergy appears positioned for continued growth. The company's transformation from traditional distillery operations to bioenergy and renewable energy sectors marks a significant strategic pivot in its business model.

Gujchem Distilleries (formerly known as ZR2 Bioenergy Ltd) has announced the resignation of Ms. Shital Gurav from her position as Company Secretary and Compliance Officer, effective December 29, 2025. The company disclosed this development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details

The company provided formal disclosure of the cessation, categorizing the reason for change as "Governance & Other related matters." Ms. Gurav's resignation was submitted through a formal letter addressed to the Board of Directors on December 29, 2025.

Compliance Concerns Cited

In her resignation letter, Ms. Gurav outlined specific concerns that led to her decision to step down. She stated that she had observed certain compliance irregularities and gaps in regulatory standards that remained unaddressed despite being raised through appropriate channels. As a professional entrusted with compliance responsibilities, she emphasized the importance of operating in an environment that upholds regulatory standards, transparency, and ethical practices.

Ms. Gurav explained that the current circumstances prevented her from discharging her duties in alignment with the compliance framework mandated under applicable laws and organizational policies. To maintain her professional integrity and adhere to statutory expectations, she believed it was appropriate to step down from her role.

Administrative Requests

In her resignation letter, Ms. Gurav requested the company to acknowledge receipt of her resignation and provide her with a copy of the e-Form DIR-12 filed with the Ministry of Corporate Affairs for her reference and records. She expressed gratitude to the Managing Director, CFO, and other Board Members for the opportunities and learning gained during her tenure.

Company Information

Gujchem Distilleries operates under the tagline "NET ZERO REGENERATIVE CO2" and maintains its registered office at 307 Ashirwad Paras - 1, S.G. Highway, Makarba, Ahmedabad 380 051. The company's corporate office is located at 1102 Lodha Supremus, Senapati Bapat Marg, Mumbai, 400 013. The resignation represents a significant governance development for the company, particularly given the compliance-related nature of the departure.