Dalmia bharat sugar & industries Limited has officially announced a significant leadership change in its finance function through regulatory filings submitted to the Bombay Stock Exchange and National Stock Exchange on March 05, 2026. The company disclosed the resignation of Chief Financial Officer Piyush Gupta and the simultaneous appointment of Sandeep Garg as the new CFO, both effective March 05, 2026.

Official Regulatory Disclosure

The company submitted comprehensive disclosure documents pursuant to Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Company Secretary & Compliance Officer Rachna Goria signed the regulatory filing, ensuring proper documentation of the leadership transition to both major stock exchanges.

CFO Transition Details

Mr. Piyush Gupta submitted his resignation letter on March 04, 2026, citing personal reasons for his departure from the position of Chief Financial Officer and Key Managerial Personnel. The Board of Directors accepted his resignation during their meeting held on March 05, 2026, with the company expressing gratitude for his contributions during his tenure.

New CFO Appointment Process

The Board of Directors appointed Mr. Sandeep Garg as the new Chief Financial Officer and Key Managerial Personnel following recommendations from both the Nomination & Remuneration Committee and the Audit Committee. The appointment became effective immediately from March 05, 2026.

Sandeep Garg's Professional Background

Mr. Sandeep Garg, aged 46 years, brings over 25 years of diverse finance leadership experience across multinational and promoter-driven organizations. He is recognized as a strategic finance leader who combines strong governance with business acumen.

Key Professional Experience

Mr. Garg served as Group Chief Financial Officer at SLMG Beverages Pvt Ltd, the largest independent bottler of Coca-Cola in India, where he led the entire finance function spanning finance strategy, controllership, FP&A, commercial and plant finance, treasury, taxation, compliance, and governance. Prior to this role, he headed Finance for the ₹17,000.00 crore International Business at Bajaj Auto Ltd, managing operations across 90 countries in a multi-currency, multi-geography environment.

His earlier career included leadership positions with Coca-Cola India Pvt. Ltd., Whirlpool of India Ltd., and Bharti Airtel Ltd. Mr. Garg's expertise encompasses business strategy, financial planning & analysis, mergers & acquisitions, treasury & capital structuring, cost optimization, governance, and sustainable EBITDA enhancement. He is known for building high-performance teams, embedding financial discipline & data-driven decision-making cultures, and enabling organizations to scale responsibly while strengthening profitability.

Dalmia Bharat Sugar & Industries Limited announced its Q3FY26 financial results for the quarter ended December 31, 2025, under Regulation 30 of SEBI Listing Regulations. The company demonstrated strong operational efficiency with significant EBITDA margin expansion and robust profit growth despite revenue challenges. The Board also approved an interim dividend of ₹4.50 per equity share and major capital expenditure projects totaling ₹107 crore.

Financial Performance Overview

The company delivered impressive profitability metrics for Q3FY26, showcasing operational excellence despite seasonal revenue pressures. The significant margin expansion reflects improved cost management and operational efficiency.

Board Meeting Outcomes

The Board of Directors meeting held on February 05, 2026, approved several key decisions under Regulation 30 and 33 of SEBI Listing Regulations. The unaudited financial results were prepared on standalone and consolidated basis as recommended by the Audit Committee.

Nine Months Performance

For the nine months ended December 31, 2025, the company showed stable revenue performance but faced challenges in maintaining profit levels compared to the previous year.

Segment-wise Performance

The company operates across sugar and distillery segments, with both showing mixed performance during the quarter.

Sugar Segment Performance:

Distillery Segment Performance:

Capital Expenditure Approvals

The Board approved two major capital expenditure projects totaling ₹107 crore to enhance operational efficiency and sustainability.

Compressed Bio-Gas (CBG) Project:

Steam Saving Project:

Recent Developments

The company has made significant operational improvements including the commencement of commercial operations at its 100 KLPD grain-based distillery on December 27, 2025. This facility was converted from the Baghauli Sugar and Distillery Limited acquisition, increasing total distillery capacity from 850 KLPD to 950 KLPD. Additionally, Eagle Agrotech Holdings Limited became a subsidiary on December 18, 2025, following a 51% stake acquisition. The company also received sugar export quota allocation of 5.286% of its 3-year average production under the government's 15 LMT export quota announcement.