Jagatjit Industries Ltd

CFO resignation details

• CFO resigning: Anil Singal.
• Last working day: 20 August 2026.
• Reason for resignation: personal reasons.
• There are no other material reasons disclosed.
• Board acceptance: not disclosed.
• Interim or new CFO: not disclosed.

Standalone results

• Standalone Q1 FY27: revenue from operations 18,680 Lakhs; total income 19,048.
• Standalone Q1 FY27: total expenses 19,871; PBT -823; net loss after tax -824.
• Standalone Q1 FY27: Beverages revenue 7,257; Ethanol revenue 10,287; total segment revenue 18,680.
• Standalone Q1 FY27: total segment profit 377; finance cost 727; other unallocable expense 463.
• Notes flag going concern; management to infuse funds and monetize assets.

Consolidated results

• Consolidated Q1 FY27: total income 19,048; total expenses 19,875; net loss after tax 828.
• Consolidated Q1 FY27: profit before tax -817.
• Consolidated Q1 FY27: revenue from operations aligns with standalone totals at 18,680.

Key notes

• Contingent liabilities: Rs 1,252 Lakhs as on 30.06.2026.
• Going concern note: group expects liquidity through equity infusion and asset monetization.

Rescheduled meeting and agenda

• Original meeting date was 11 August 2026; rescheduled to 13 August 2026.
• To consider and approve unaudited standalone and consolidated quarterly results for the quarter ended 30 June 2026.
• Trading window for designated persons remains closed until 14 August 2026.

CFO resignation details

• Name of resigning CFO: Anil Singal.
• Effective date of resignation: to be informed in due course.
• Reason for resignation: Resignation as Chief Financial Officer (KMP) of the Company.
• Resignation accepted by management.

Dematerialisation status

• No dematerialisation or rematerialisation requests were received during the quarter ended 30 June 2026.

Action & instrument

• CRISIL assigns long-term B+/Stable rating to Jagatjit's Rs47 crore bank term loan.
• A short-term A4 rating is also assigned.
• Lender: IndusInd Bank.
• Total facilities rated: Rs47 crore.
• Rating agency: Crisil Ratings Limited.

Rationale – strengths and weaknesses

• Promoter experience: over 17 years in the industry.
• Diversified business: IMFL, country liquor, malt foods, and ethanol expansion.
• Revenue Rs 253.53 crore in FY2026; rental income Rs 7–8 crore.
• Regulatory risk in distillery and country liquor markets.
• Weak financial risk: gearing 3.94x; TOLANW 8.97x.
• Liquidity stretched: bank-limit utilisation 92.36%; current ratio 0.5x.
• Non-operating income expected Rs 120–130 crore; debt repayment Rs 25–35 crore.
• Outlook: Stable.

Outlook & sensitivities

• Upward factors: sustained revenue and margin improvement with net cash accrual >1.2x debt.
• Downward factors: revenue decline and margin erosion; large debt-funded capex.

Material changes

• First-time rating; no prior Crisil rating disclosed.

Financial highlights

• FY2026 revenue 253.53 crore; PAT 9.89 crore; PAT margin 3.90%.
• Adjusted Debt/Adjusted Net Worth 5.70x.
• Interest coverage -1.31x; cash accrual negative.