Simbhaoli Sugars Ltd

Simbhaoli Sugars Insolvency Update 📉 NCLT Stay Until 2026

- Corporate Insolvency Resolution Process (CIRP) initiated by Punjab National Bank, admitted by NCLT on July 11, 2024

- NCLAT stay order issued on July 24, 2024, halting CIRP progress until March 24, 2026

- Net loss after tax: ₹1,981.19 lakhs for FY2025 (improved from ₹3,045.86 lakhs previous year)

- Revenue from operations: ₹1,16,431.09 lakhs (down from ₹1,35,400.70 lakhs prior year)

- No interest provision on borrowings: ₹63,937.03 lakhs for FY2025 and ₹8,116.17 lakhs for Q4 FY2025

- Cumulative unprovided interest: ₹1,75,029.63 lakhs

- No provision for sugarcane interest dues: ₹12,163.25 lakhs claimed by farmers as of July 11, 2024

- Subsidiary SPPL received disclaimer of opinion due to operational losses, turbine breakdown, and disputes

- Subsidiary ICCPL received adverse opinion for non-provision of expected credit losses on ₹462.57 lakhs unbilled revenue and ₹105.00 lakhs earnest money deposits

- Director remuneration of ₹355.83 lakhs paid without lender consent

- Total assets: ₹2,03,251.08 lakhs with current liabilities exceeding current assets

- Segment revenue: Sugar ₹85,913.61 lakhs, Distillery ₹39,534.98 lakhs, Power ₹2,480.60 lakhs, Others ₹975.47 lakhs