Shree Renuka Sugars Q2 FY27 Results: Consolidated Net Loss ₹194 Crore on Total Income of ₹1,921 Crore
Earnings
Sugar and bioenergy
Blacklitt Research3 min read
Shiftchange, via Wikimedia Commons (CC0). Illustrative image.
Shree Renuka Sugars reported consolidated total income of ₹1,921.30 crore and a net loss of ₹193.90 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹1,798.60 crore, with a net loss of ₹163.20 crore. The company said in a filing on 30 Oct 2026.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹1,921.30 crore, down 24.0% YoY and 9.9% QoQ.
Net profit and EPS: Net loss of ₹193.90 crore, of which ₹193.30 crore is attributable to owners; basic loss of ₹0.91 per share.
Finance costs: ₹178.50 crore, down 2.8% YoY; 9.3% of total income.
Standalone
The company on its own, without its subsidiaries
Total income: ₹1,798.60 crore, down 26.1% YoY and 10.3% QoQ.
Net profit and EPS: Net loss of ₹163.20 crore against ₹318.80 crore a year before; basic loss of ₹0.77 per share against ₹1.50.
Finance costs: ₹156.90 crore, down 4.0% YoY; 8.7% of total income.
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
1,921
2,527
-24.0%
2,131
-9.9%
Revenue from operations
1,905
2,489
-23.5%
2,120
-10.1%
Other income
16
38
-56.5%
11
+46.8%
-194
n/a
n/a
n/a
n/a
Profit before tax
-202
-401
+49.7%
n/a
n/a
Finance costs
179
184
-2.8%
182
-1.9%
Depreciation
59
73
-18.8%
67
-11.1%
Tax expense
-8
n/a
n/a
n/a
n/a
EPS, basic (₹)
-0.91
n/a
n/a
-1.18
+22.9%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Revenue from operations was ₹1,905.00 crore, down 23.5% from ₹2,489.00 crore a year before and down 10.1% from ₹2,120.20 crore in the June quarter. Other income fell 56.5% to ₹16.30 crore from ₹37.50 crore.
The loss before tax was ₹201.90 crore, against ₹401.30 crore a year before, so the loss before tax narrowed by 49.7%. Finance costs were ₹178.50 crore, against ₹183.60 crore, and depreciation was ₹59.30 crore, against ₹73.00 crore, down 18.8%.
A tax credit of ₹8.00 crore took the net loss to ₹193.90 crore. Of this, ₹193.30 crore is attributable to owners of the parent. The basic loss per share was ₹0.91, against ₹1.18 in the June quarter, a 22.9% narrowing.
The notes say that the net impact of realised and unrealised gains and losses on commodity derivatives is classified under other operating income or expenses, depending on the year-to-date balance. The review report says the figures for four subsidiaries rest on the reports of other auditors.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
1,799
2,433
-26.1%
2,004
-10.3%
Revenue from operations
1,779
2,390
-25.6%
1,990
-10.6%
Other income
20
43
-53.9%
15
+37.2%
-163
-319
+48.8%
-216
+24.4%
Profit before tax
-177
-350
+49.4%
-281
+37.1%
Finance costs
157
163
-4.0%
160
-1.8%
Depreciation
64
69
-7.0%
63
+0.9%
Tax expense
-14
-31
+56.0%
n/a
n/a
Net profit margin
-9.07%
-13.10%
+4.03 pp
-10.77%
+1.69 pp
EPS, basic (₹)
-0.77
-1.50
+48.7%
-1.01
+23.8%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Revenue from operations was ₹1,778.70 crore, down 25.6% from ₹2,389.50 crore a year before and down 10.6% from ₹1,989.70 crore in the June quarter. Other income fell 53.9% to ₹19.90 crore from ₹43.20 crore.
The net loss narrowed to ₹163.20 crore from ₹318.80 crore a year before, a fall of 48.8%. The loss before tax narrowed to ₹176.70 crore from ₹349.50 crore. A tax credit of ₹13.50 crore compares with ₹30.70 crore a year before.
Against the June quarter, total income fell 10.3% to ₹1,798.60 crore, while the net loss fell 24.4% from ₹215.80 crore. The basic loss per share was ₹0.77, against ₹1.01 in the June quarter and ₹1.50 a year before.
Finance costs were ₹156.90 crore, against ₹163.40 crore a year before, and depreciation was ₹64.00 crore, against ₹68.80 crore, down 7.0%.
Inference
The filing states that the results are prepared on a going concern basis. The notes say management believes the company will meet its financial obligations on time, and that the board of Wilmar Sugar and Energy Pte Ltd has provided a letter of support to meet the shortfall in normal trade related working capital requirements.
As at 30 Sep 2026 current liabilities exceeded current assets by ₹2,462.40 crore standalone and ₹3,818.00 crore consolidated, and net worth was negative at ₹1,645.20 crore standalone and ₹3,133.50 crore consolidated. Long term loans, external commercial borrowings and non-convertible debentures are secured by a corporate guarantee from Wilmar International Limited, and working capital loans of ₹1,561.70 crore carry a pari-passu charge on current assets and a letter of comfort from the same company.
The non-convertible debentures have an asset cover of 1.51 times, secured by an exclusive charge on the Panchaganga and Haldia plants. The filing does not say how the shortfall will be met beyond the letter of support, or why revenue fell.
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RENUKAShree Renuka Sugars Ltd.
