SBEC Sugar Ltd — Board Meeting, 29-05-2025: Board Meeting

SBEC Sugar has announced a board meeting to approve audited financial results for the quarter and year ended March 31, 2025. The company reported a net loss of Rs. 11.79 Cr for the year, primarily due to no provisions made for interest on late payment of cane dues totaling Rs. 41.26 Cr for sugar seasons 2023-24 and 2024-25. Earnings before interest, depreciation, and taxes stood at Rs. 42.48 Cr. The company holds Rs. 146.86 Cr as net exposure in Modi Industries Limited (MIL), with uncertainty over recovery, rejecting a one-time settlement and holding Rs. 25 Cr in trust. Inventories were valued at net realizable value instead of the lower of cost or NRV, overstating stock by Rs. 23.12 Cr, thus understating losses. Management seeks interest waiver on cane dues and plans to recognize it upon decision. The seasonal nature of the sugar industry impacts quarterly comparability. The internal auditors, M/s Thakur Vaidyanath Aiyar & Co., were re-appointed for FY 2025-26.