Simbhaoli Sugars Limited has informed the stock exchange about Outcome of IRP Conevened Meeting for considered and taken note of Audited consolidated Financial results along with auditor ....
RESULTS
▼ Concern Flagged
HIGH RISK
📅 Filed on BSE: 11 Mar 2026, 07:10 PM IST · BSE ID: 99271522-5cf4-4683-b690-d6e27855b5c0
View Original BSE Filing (PDF)
🤖 AI Summary
- Simbhaoli Sugars Limited held an Interim Resolution Professional (IRP) convened meeting on March 11, 2026, at 3:30 PM to 3:53 PM to review and note the Audited Consolidated Financial Statements for the quarter and year ended March 31, 2025. The company operates under NCLT insolvency proceedings initiated July 11, 2024. The auditors issued adverse opinions on consolidated results due to multiple material uncertainties across subsidiaries including Simbhaoli Power Private Limited, Integrated Casetech Consultants Private Limited, and Simbhaoli Specialty Sugars Private Limited.
🔢 Key Numbers — exact figures from BSE filing, not rounded
ICCPL Unbilled Revenue (Disputed since FY2020-21)
₹462.57 Lakhs
ICCPL Earnest Money Deposits (Withheld)
₹105.00 Lakhs
ICCPL Receivables Overdue >3 Years
₹209.43 Lakhs
ICCPL Receivables Overdue >1 Year
₹24.88 Lakhs
ICCPL Receivables in Disputes (Courts/Arbitration)
₹30.96 Lakhs
ICCPL Deferred Tax Assets
₹108.56 Lakhs
SPPL Receivables from Holding Company (Disputed)
₹1,116.19 Lakhs
Holding Company Counter-Claim Against SPPL (Disputed)
₹524.10 Lakhs
👁 Watch List — track these upcoming events
NCLAT hearing outcome scheduled March 24, 2026
Resolution of inter-company disputes between SPPL and holding company
Repair and operationalization of SPPL turbine
Settlement of ICCPL receivables disputes
NCLT insolvency proceedings resolution status
HIGH RISK
Active insolvency proceedings. Auditors issued adverse and disclaimer opinions. Going concern doubts. Material unresolved inter-company disputes. Obsolete equipment impacting operations.
⚖️ Strengths & Concerns
⚠️ Concerns
- SPPL auditor issued disclaimer of opinion citing going concern doubts, net losses in current and prior years, turbine breakdown reducing revenue, and lack of shareholder financial support confirmation.
- ICCPL carries unbilled revenue of ₹462.57 Lakhs disputed since FY2020-21 and earnest money deposits of ₹105.00 Lakhs withheld without adequate impairment provisions.
- ICCPL has ₹209.43 Lakhs receivables overdue more than three years and ₹24.88 Lakhs overdue over one year with ₹30.96 Lakhs in court/arbitration disputes unprovisioned.
- SPPL recognizes ₹1,116.19 Lakhs receivables from holding company not accepted by holding company; counter-claim of ₹524.10 Lakhs raised by holding company not recognized by SPPL.
📅 Company Track Record
Simbhaoli Sugars has operated in integrated sugar production with diversification into specialty chemicals, power generation, and consulting services. The company entered insolvency proceedings in July 2024 following financial creditor petition, marking a significant deterioration from prior operational status. The presence of multiple loss-making subsidiaries with unresolved receivables disputes spanning since FY2020-21 indicates prolonged financial stress.
Based on publicly available historical data. For context only.