Shree Renuka Sugars Limited has announced the appointment of Mr. Vishesh Kathuria as an Alternate Director, marking a strategic addition to its board structure. The appointment was formalized through a resolution passed by circulation on March 3rd, 2026, following approval by the Board of Directors and recommendation from the Nomination and Remuneration Committee.

Appointment Details

The company has appointed Mr. Vishesh Kathuria (DIN: 08477542) as an Alternate Director to Mr. Charles Cheau Leong Loo (DIN: 08737827), who serves as a Non-Executive & Non-Independent Director. The appointment complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Professional Background

Mr. Kathuria brings substantial expertise to the role, with close to 20 years of leadership experience across multiple domains. He holds a B. Tech (ICT) engineering degree and is a postgraduate in Finance Management. His professional experience spans corporate strategy, investment banking, business development, and trade finance operations.

His areas of expertise include:

• P&L ownership and capital allocation
• Cross-border M&A transactions
• Structured fundraising initiatives
• Portfolio optimization
• Complex banking negotiations across Asia, the GCC, and the Americas

Career Experience

Mr. Kathuria has previously held key positions at IMAP India and Shree Renuka Sugars Limited, where he was responsible for driving end-to-end transaction execution, investor engagement, and value creation initiatives. He is currently associated with Wilmar Agri Trading DMCC in Dubai, bringing international market experience to his new role.

Terms of Appointment

The appointment follows specific terms outlined by the company. Mr. Kathuria will continue as an alternate director as long as Mr. Charles Cheau Leong Loo remains a Director of the Company. His tenure will automatically cease when Mr. Charles ceases to be a Director, whether due to retirement by rotation or other circumstances. The provision for automatic re-appointment on retirement by rotation applies exclusively to Mr. Charles.

Regulatory Compliance

The Board of Directors and the Nomination and Remuneration Committee have confirmed that Mr. Kathuria is not debarred from holding the office of Director pursuant to any SEBI order or other regulatory authority. The company has disclosed that Mr. Kathuria is not related to any of the Directors or Key Managerial Personnel of the Company, ensuring independence in governance structure.

Shree Renuka Sugars has delivered an impressive financial turnaround in the third quarter, showcasing remarkable improvement across key performance metrics. The company achieved a substantial EBITDA gain of ₹2.50 billion compared to a loss of ₹15 million in the corresponding quarter of the previous year, while also significantly reducing its consolidated net loss.

Outstanding EBITDA Performance

The sugar manufacturer demonstrated exceptional operational efficiency with a dramatic EBITDA improvement. The company achieved an EBITDA margin of 10.95% for the quarter, reflecting strong cost management and operational optimization.

Comprehensive Financial Results

The company's overall financial performance showed substantial improvement across multiple parameters, with both profitability metrics and operational efficiency demonstrating positive trends.

Loss Reduction Achievement

Shree Renuka Sugars achieved a remarkable 81% reduction in its consolidated net loss, bringing it down to ₹383 million from ₹2.04 billion in the corresponding quarter of the previous year. This substantial improvement of approximately ₹1.66 billion in loss reduction, combined with the strong EBITDA performance, indicates enhanced operational efficiency and improved cost management strategies.

Revenue and Margin Analysis

Despite experiencing a revenue decline to ₹22.70 billion from ₹26 billion in the same period last year (a decrease of 12.70%), the company successfully improved its profitability metrics. The achievement of a 10.95% EBITDA margin demonstrates the company's ability to optimize costs and improve operational efficiency even in a challenging revenue environment.

Key Performance Highlights

The quarterly results present a strong operational turnaround story with the following achievements:

The company's ability to deliver such substantial improvements in EBITDA and loss metrics while managing revenue challenges reflects successful implementation of operational control measures and strategic cost optimization initiatives during the quarter.