Rana Sugars Ltd

AGM details

• Mode: VC/OAVM; meeting duration ~30 minutes.

Resolutions

• Ordinary: Adopt standalone financial statements and reports of the Board and Auditors.
• Ordinary: Reappointment of Managing Director by rotation.
• Ordinary: Payment of remuneration to Cost Auditors.
• Ordinary: Payment of increased remuneration to Administration Head.
• Special: Increased remuneration to Managing Director.

Rana Sugars Limited: Trading Window closed from 1st October, 2026 till 48 hours after the Board Meeting for consideration of Unaudited Financial Results for the Quarter/Half Year ending 30th September, 2026.

SMP Resignation

• Resignation of Mr. Indrajeet Kushwaha, General Manager, effective 18 September 2026, due to personal reasons/commitments.

Financials

• Revenue from operations: ₹174,344.14 Lakhs, down slightly from ₹174,515.51 Lakhs.
• Total income: ₹177,430.99 Lakhs.
• EBITDA: ₹7,156.34 Lakhs; margin 4.10%.
• PAT: ₹2,381.40 Lakhs.
• Basic EPS: ₹1.55.
• Net worth: ₹59,965.33 Lakhs (₹599.65 crore).
• No dividend declared for 2025-26.
• Sugar external revenue: ₹78,746.19 Lakhs; Distillery ₹90,418.75 Lakhs; Power ₹5,205.31 Lakhs.
• Inter-segment revenue: ₹22,659.21 Lakhs.

Segment performance

• Sugar: Crushing 115.97 lakh quintals; beet 23.59.
• Sugar recovery: 9.55% (net); beet 7.84%.
• Sugar production: 12.93 lakh quintals; sugar sales 16.54.
• Distillery: production 1,072.59 lakh BL; sales 973.69.
• Distillery revenue: ₹90,418.74 Lakhs.
• Power sold: 641.7 lakh units; revenue ₹3,637.35 Lakhs.

Operational mix and cash generation

• External segment revenues reflect Sugar, Distillery, and Power lines; inter-segment transfers exist.
• Power segment contributes material EBITDA despite seasonal variability.
• Two distillery customers accounted for ₹44,948.34 Lakhs revenue (25.92%).
• Management emphasizes cross-segment synergy: sugar-ethanol-cogeneration.

Capital structure & liquidity

• Net worth: ₹59,965.33 Lakhs; debt around ₹251 crore (net).
• Net debt: ₹25,099.59 Lakhs; gearing 0.28x.
• Current ratio: 1.21x; cash/bank: ₹46.19 crore.
• Credit rating: IVR BBB-; rating watch with developing implications; short-term IVR A3.
• 18% dematerialised; 2.82% physical shares.

Governance & leadership

• Board: 2 Executive, 1 Non-Executive Chair, 3 Independent Directors.
• Anil Singh Negi joined as Independent Director on 14 Aug 2025; Gaurav Garg joined as WTD/CFO on 26 Feb 2026.
• Basant Bajaj and Harneet Oberoi resigned as directors in 2025.
• Board meetings: 5; Audit Committee: 5; CSR: 2; Finance & Investment: 9.
• Remuneration: MD fixed ₹30 Lakh/month; 10% annual increments; service contract to 2029.

Remuneration & policies

• Rana Veer Pratap Singh remuneration: ₹30 Lakh/month; 3-year remuneration period 2027-2029; 5-year tenure.
• Kirandeep Kaur remuneration proposed to rise to ₹15 Lakh/month.
• Nomination & Remuneration Policy and Board Diversity policy published on company website.
• SMP disclosures and independence confirmations for directors on record.

Regulatory & audit matters

• Enforcement Directorate order (FEMA) for ₹22.02 Crore; appeal before Appellate Authority; sub-judice.
• SEBI penalty of ₹7 Crore in 2024; SAT stay on coercive action; no near-term cash impact.
• Related party transactions reviewed; omnibus/annual approvals; RPT policy on website.
• Secretarial audit flagged FEMA-related matter; management has provided response.

CSR & sustainability

• CSR spend: ₹141.56 Lakhs; 2% average net profit: ₹106.33 Lakhs; excess for set-off ₹35.23 Lakhs.
• CSR committee met on 30 May 2025 and 31 Mar 2026.
• Projects include livelihood, disaster management, health, old age care, education, sports, and rural development.

Outlook and risks

• Ethanol blending policy and cross-segment integration remain growth drivers.
• Regulatory and climate risks persist: FRP/SAP, exports, cane supply, and weather variability.
• Industry outlook favorable for ethanol-led expansion and renewable energy integration.

AGM Details

• AGM scheduled for 30 September 2026 at 12:30 IST via VC/OAVM.
• Book closure from 23 September 2026 to 30 September 2026 (inclusive).
• Record date for voting rights fixed on 23 September 2025.
• AGM conducted via VC/OAVM under applicable MCA/SEBI circulars.

Notice & Access

• Notice and annual report for FY2025-26 sent to members and on company/stock exchange websites.