Dhampur Sugar Mills Ltd

Dhampur Sugar Mills Ltd: Trading window closed from 1 October 2026 till 48 hours after the declaration of Standalone and Consolidated Unaudited Financial Results for the quarter ended 30 September 2026

AGM details

• 91st AGM held on 26 August 2026 at 3:00 PM IST via VC/OAVM.

AGM details and key resolutions

• Date/time/mode: 26 Aug 2026, 3:00 PM–4:47 PM, VC/OAVM.
• Record date: 19 Aug 2026; total shareholders on record: 84,338.
• Resolutions: ordinary for items 1–3; special for items 4–9.
• Res 1: Adopt standalone and consolidated financial statements for FY2026.
• Res 2: Interim dividend of Rs 2.00 per share confirmed as final dividend.
• Res 3: Re-appointment of Subhash Pandey by rotation.
• Res 4: Remuneration to Cost Auditors for FY2026–27.
• Res 5: Commission to Non-Executive Independent Directors.
• Res 6: Minimum remuneration to Ashok Kumar Goel as Chairman & ED.
• Res 7: Minimum remuneration to Caurav Goel as VC & MD.
• Res 8: Re-appointment of Anuj Khanna as Non-Executive Independent Director.
• Res 9: Re-appointment of Subhash Pandey as Whole-Time Director.
• All resolutions passed; minor opposition noted for some items.

AGM Details

• Date, time, mode: 26 August 2026, 03:00 PM IST, via VC/OAVM.
• Remote e-voting open 22 Aug 2026 09:00 IST to 25 Aug 2026 17:00 IST.

Key Resolutions

• Resolution 1 (Ordinary): Adopt standalone and consolidated financial statements and reports.
• Resolution 2 (Ordinary): Confirm interim dividend of ₹2.00 per share (20%).
• Resolution 3 (Ordinary): Re-appoint Subhash Pandey, retires by rotation.
• Resolution 4 (Ordinary): Remuneration to Cost Auditors for FY 2026-27.
• Resolution 5 (Special): Commission to Non-Executive Independent Directors.
• Resolution 6 (Special): Minimum remuneration to Ashok Kumar Goel, Chairman and Executive Director.
• Resolution 7 (Special): Minimum remuneration to Gaurav Goel, Vice Chairman and MD.
• Resolution 8 (Special): Re-appoint Anuj Khanna as Non-Executive Independent Director.
• Resolution 9 (Special): Re-appoint Subhash Pandey as Whole-Time Director.

Financials & Audit

• Auditors' Report: No qualifications on Standalone/Consolidated FS.
• Secretarial Audit: No qualifications.
• Cost Auditors remuneration for FY 2026-27 approved.

Directors

• Subhash Pandey retires by rotation; eligible for re-appointment.
• Anuj Khanna re-appointed as Non-Executive Independent Director.
• Subhash Pandey re-appointed as Whole-Time Director.

Voting Status

• Voting results to be submitted separately with Scrutinizer’s report.

Rating Action Details

• Rating Agency: India Ratings & Research (Ind-Ra).
• Instruments Rated: Bank loans, Commercial Paper, Fixed deposits.
• Long-term bank loan facilities downgraded to IND A+/Stable, from IND AA-.
• Outlook for the long-term rating remains Stable.
• Short-term bank facilities rating affirmed at IND A1+.
• Commercial Paper rating affirmed at IND A1+.
• Fixed deposits rating withdrawn.
• Date of action: 3 August 2026.
• Rationale: Detailed rationale available in Ind-Ra press release dated 3 August 2026.
• Material change: Long-term rating downgraded from IND AA- to IND A+.

Business Overview

• Core business: sugar, maize-based ethanol, potable spirits, chemicals; Mishti by Dhampur brand.
• Revenue mix: sugar 64.63%, other segments 35.37%.
• Brand initiative: Mishti by Dhampur introduced.

Operational Highlights

• Sugar sales: 0.85 lakh tons vs 0.80 lakh tons.
• Sugar realisation: Rs 41,202/ton vs Rs 39,999.
• Maize-based ethanol margins improved due to lower production costs.
• Chemical sales: 86.48 lakh kg vs 78.52.
• Ethanol sales down to 151.53 lakh BL from 182.39.
• Power exports 0.36 crore units vs 0.95 due to early SS closure.

Financial Performance

• Consolidated revenue gross Rs 786.17 cr; net Rs 552.62 cr.
• Other income Rs 5.84 cr; EBITDA Rs 37.12 cr; margin 4.72%.
• PBT Rs 8.24 cr; margin 1.05%; PAT Rs 6.09 cr; margin 0.77%.
• EPS Rs 0.94; Net profit to shareholders Rs 6.03 cr.
• Sugar EBIT improved to 27.25% from -18.87%.

Capital Structure & Liquidity

• Issuer rating IND AA-; term loan IND AA-.
• Working capital limits and CP rated IND A1+; public deposits IND AA-.

Strategy & Outlook

• Brand Mishti by Dhampur introduced.
• Strategic focus on sugar and maize ethanol; margins improving.

Governance & Leadership

• Promoter Chairman: Ashok Kumar Goel; MD: Gaurav Goel.
• Independent Directors: Satpal Arora, Yashwardhan Poddar, Anuj Khanna.
• Other directors: Pallavi Khandelwal, Subhash Pandey.

Financial results approved

• Unaudited standalone results for quarter ended 30 June 2026 approved.
• Unaudited consolidated results for quarter ended 30 June 2026 approved.
• Limited Review Reports enclosed with both results.

Auditor reports and subsidiary notes

• Independent auditor's review concluded no material misstatement in consolidated results.
• DETS Limited and EHAAT Limited included; DETS reviewed by another firm, EHAAT by joint auditors.

Commercial Paper payment

• Certificate confirms timely payment of Rs 100 crore maturity amount for CP INE041A14142.
• Issue date 30-06-2026; Maturity 30-07-2026; Payment date 30-07-2026.
• Compliance under SEBI Master Circular on Commercial Papers.
• No default reported; funds paid as per required maturity schedule.

Commercial Paper repayment

• Confirmed timely payment of Rs 100 crore maturity amount for CP INE041A14142.
• CP issued 30-06-2026, matured 30-07-2026, payment made on 30-07-2026.
• CP is listed under SEBI Master Circular; certificate filed with exchanges.
• Signed by Company Secretary Aparna Goel.
• No impact on liquidity disclosed.