Regaal Resources Ltd

Financial Performance

• Q1 FY27 operating income Rs 202.15 crores, down 18% YoY due to reduced low-margin trading.
• Value-added Rs 80.53 crores; value-added margin 39.8% vs 25.1% Q1 FY26.
• Operating EBITDA Rs 30.98 crores; EBITDA margin 15.3%, up 540 bps YoY.
• PAT margin 6.6%; YoY improvement 291 bps.
• Inventory days 130; elevated due to expansion; normalization expected as ramp-up.
• Net debt Rs 735.32 crores as of 30 June 2026.
• Project outlay Rs 664 crores; Rs 552 crores incurred as of 30 June 2026; Bihar subvention aids borrowing cost.
• Export contribution 10.4% in Q1 FY27 vs 4.9% Q1 FY26.

Operations & Capacity Expansion

• Commissioning on 26 May 2026 doubled capacity to 1650 tpd; liquids glucose 180 tpd added.
• Maltodextrin powder facility 50 tpd; cogeneration expanded from 7.1 MW to 15.8 MW.
• Capacity utilization 71.4% in Q1 FY27; ramp-up due to commissioning; utilization expected to improve.
• Volume guidance: ~4,00,000+ tonnes for FY27; Q2 target 100,000–110,000 tonnes.
• Value-added mix expected 20–22% of turnover this year.
• Export revenue share is 10% currently; expanding markets; no firm target.

Balance Sheet & Cash Flow

• Cash conversion cycle 130 days; inventory built to support expanded capacity.
• Debt financing subsidized by Bihar government; interest cost containment expected.
• Total capex outlay Rs 664 crores; Rs 552 crores incurred as of 30 June 2026.

Q&A Highlights

• Kishanganj capacity 1,650 tpd; utilization rising; maximum run-rate expected within this year.
• FY27 crushing target around 4 lakh tonnes; Q2 guidance 100k–110k tonnes.
• Value-added mix increasing; last year ~3% of turnover; this year 20–22% of turnover.
• EBITDA per tonne not guided; depends on maize and finished-product prices; expects operating leverage.
• Net interest cost net of subvention expected around Rs 39–40 crores for FY27; flat vs FY26.
• Bihar subvention policy: Rs 40 crores option discussed; not yet cleared; not included in presentation.

Outlook & Guidance

• Capex phase transitioning to cash generation; deleveraging anticipated as utilization ramps.
• Value-added mix to steady around 35% of turnover guidance range (subject to market prices).
• Pricing of maize and finished products will impact EBITDA per tonne; no fixed per-ton guidance.

Meeting Details

• Date and time: August 17, 2026 at 11:00 AM IST.
• Type and mode: earnings conference call; virtual.
• Organizer: Regaal Resources Limited.

Participants

• Company participants: Company Secretary and Compliance Officer.

Purpose

• Purpose: Discuss unaudited Q1 FY27 results for quarter ended June 30, 2026.

Additional Notes

• Audio recording of the earnings call uploaded on the company's website.

AGM Details

• 14th AGM on 23 September 2026 at 3:00 PM IST via VC/OAVM.
• Voting cut-off: 16 September 2026.
• Dividend record date and voting entitlement: 16 September 2026.
• Remote e-voting window: 20 September 2026 09:00 IST to 22 September 2026 17:00 IST.
• Annual Report and AGM Notice to be dispatched and posted on the company website.

Dividend

• Final dividend for FY2025-26, if approved, will be paid to eligible members.
• Dividend entitlement determined by record date of 16 September 2026.
• Payment will be subject to tax deduction at source.

Financial highlights Q1 FY27

• Total Income: ₹2,026 million in Q1 FY27, down 17.9% YoY.
• Operating Income: ₹2,021 million in Q1 FY27, down 18.0% YoY.
• Value Add: ₹805 million, up 30.3% YoY.
• Value Add Margin: 39.8% (up 1,477 bps YoY).
• Operating EBITDA: ₹310 million; margin 15.3%.
• PAT: ₹133 million; margin 6.6%.
• Diluted EPS: ₹1.29; up 18.2% YoY.
• Exports contribution: 10.4% in Q1 FY27, more than double Q1 FY26.
• Maize crushing production: 69,689 MT in Q1 FY27, up 7.6%.
• Crushing capacity doubled to 1,650 MT/day.
• LG facility commissioned at 180 MT/day; Maltodextrin Plant at 50 MT/day.
• Co-generation power plant expanded to 15.8 MW from 7.1 MW.

Operational developments and outlook

• Exports growth supports broader international footprint.
• Investments expected to lift utilization; benefits from Q2 FY27.
• Focus on value-added products (modified starch, Dextrose variants) underway.
• Expanded capacities position Regaal as largest maize wet milling facility in Eastern India.
• Phase-wise commissioning planned through FY27 for new growth avenues.

Key highlights

• Board approved Q1 FY27 unaudited standalone results for quarter ended 30 Jun 2026.
• Total income for quarter ended 30 Jun 2026: Rs 2,025.72 million; PAT Rs 133.28 million.
• PBT before tax: Rs 178.63 million; tax expense Rs 45.35 million; PAT Rs 133.28 million.
• Exceptional item: Rs 66.57 million due to SGST subsidy reversal; further impact unlikely.
• Crushing capacity expanded to 1,650 MT per day; LG facility 180 TPD; MD Powder 50 TPD.
• Captive power plant capacity raised to 15.8 MW at Kishanganj unit.
• ESOP: 270,400 shares allotted on 21-Jul-2026; paid-up capital to Rs 514.97 million.
• No separate segment reporting; maize starch and derivatives manufacturing.
• Board meeting held Aug 14, 2026; results approved; limited review conducted by Singhi & Co.

Meeting Details

• Date and time: Monday, August 17, 2026 at 11:00 A.M.
• Type and mode: group earnings call, virtual
• Organiser: Arihant Capital Markets Ltd for Regaal Resources Q1FY27 earnings call

Participants

• Company management participants: Chairman & Managing Director; Whole-time Director; Chief Financial Officer

Purpose

• Discuss Q1 FY27 results and performance

Additional Notes

• Details and registration information to be available on company website

Meeting Details

• Date of board meeting: Friday, 14 August 2026.

Key Agenda Items

• Unaudited standalone financial results for quarter ended June 30, 2026 with Limited Review Report.
• Other business matters, if any.

Other Notes

• Trading window closed from 1 July 2026 until 48 hours after results declaration.

Dematerialisation processing and listing status

• Dematerialisation requests processed; certificates confirmed to depositories (accepted/rejected).
• Securities dematerialised listed on exchanges where existing securities are listed.
• Certificates received for dematerialisation mutilated and cancelled after verification; registered owner updated within prescribed timelines.