Simbhaoli Sugars Limited , currently undergoing Corporate Insolvency Resolution Process (CIRP), has announced a significant change in its key managerial personnel. The company, under the management of Interim Resolution Professional (IRP) Anurag Goel, has appointed Ms. Jagriti Sharma as its new Company Secretary and Compliance Officer.

Key Appointment Details

Corporate Governance Context

The appointment comes at a crucial time for Simbhaoli Sugars Limited:

• The company is currently under Corporate Insolvency Resolution Process (CIRP).
• The National Company Law Tribunal (NCLT), Allahabad Bench, issued an order on July 11, 2024, initiating the CIRP.
• Following this order, the powers of the Board of Directors have been suspended.
• Anurag Goel, as the Interim Resolution Professional, is now managing the company's affairs, business, and assets.

Professional Background of Ms. Jagriti Sharma

Ms. Sharma brings a wealth of experience to her new role:

• Fellow Member of the Institute of Company Secretaries of India
• Law graduate
• 10 years of experience in Corporate Secretarial Laws, Governance, and Legal Matters
• Expertise in managing corporate affairs, including Insolvency and Bankruptcy Code (IBC) and other corporate laws
• Diverse experience across sectors including Highway, Power, and Petroleum

Regulatory Compliance

This appointment aligns with several regulatory requirements:

• Sections 17, 18, and 20 of the Insolvency Bankruptcy Code
• Regulation 6 and Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
• SEBI Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024

The appointment of Ms. Sharma as a key managerial personnel is a significant step for Simbhaoli Sugars Limited as it navigates through the insolvency process. Her extensive experience in corporate governance and legal matters could prove valuable in managing the company's compliance obligations during this critical period.

Simbhaoli Sugars Limited has announced its unaudited standalone financial results for the quarter ended September 30, 2025, marking the completion of the delayed Q2 FY26 results review that was conducted by the Interim Resolution Professional (IRP) on December 29, 2025. Following regulatory compliance requirements, the company published these results in Business Standard (English) and Business Standard (Hindi) newspapers on December 31, 2025.

Financial Performance Overview

The company's Q2 FY26 performance showed mixed operational results amid ongoing insolvency proceedings:

Segment-wise Performance

The company's two primary business segments showed contrasting performance during the quarter:

Half-Year Performance

For the six months ended September 30, 2025, the company reported:

Corporate Insolvency Resolution Process Status

The company has been operating under CIRP since July 11, 2024, following an order by the National Company Law Tribunal (NCLT), Allahabad Bench. Key developments include:

Regulatory Compliance and Publication

In compliance with SEBI regulations 30 and 47, the company published its Q2 FY26 financial results in newspapers on December 31, 2025:

Auditor Qualifications and Key Issues

The independent auditor's limited review report highlighted several significant qualifications:

Interest Provisions Not Made

• No provision for interest on bank borrowings: ₹86.92 crores (Q2) and ₹170.52 crores (H1)
• Accumulated unprovided interest expenses: ₹1,920.82 crores as of September 30, 2025
• No provision for interest on unsecured loans from related parties: ₹0.11 crores (Q2)

Other Material Issues

• Cane farmer interest dues claimed: ₹121.63 crores (as of July 11, 2024)
• Subsidiary-related penalties and disputes: ₹13.31 crores not provided
• CFO remuneration pending approval: ₹4.78 crores for period post-February 2025

Asset and Liability Position

As of September 30, 2025, the company's financial position showed:

Operational Challenges

The company faces significant operational headwinds for the crushing season 2025-26:

Going Concern and Future Outlook

Despite the complete erosion of net worth and ongoing losses, the financial results have been prepared on a going concern basis. The IRP continues to manage operations with the objective of maintaining the company as a viable entity while the NCLAT proceedings remain stayed pending settlement discussions among creditors.

The company remains fully operational, producing sugar, molasses, rectified spirit, IMFL, and other by-products. However, the significant reduction in cane area allocation for the current crushing season poses substantial challenges to future operational performance and viability.