Dwarikesh Sugar Industries Limited (DSIL) Latest Update

Q2 FY26 Financial Results For the quarter ended September 30, 2025, the company reported a Net Loss of ₹32.62 crore, a significant decline compared to a loss of ₹24 crore in the same period the previous year. Revenue for the quarter stood at ₹245.93 crore, reflecting a year-on-year drop of approximately 43%. These results were impacted by lower sugar production volumes and seasonal operational headwinds. Operational Highlights & Inventory Despite the financial loss, the company saw a slight increase in sugar sales, which reached 6.03 lakh quintals in Q2 FY26. The average realization on domestic sugar sales improved to ₹3,963 per quintal, up from ₹3,767 per quintal a year ago. As of September 30, 2025, sugar inventory was significantly lower at 3.68 lakh quintals, compared to 5.59 lakh quintals in the previous year. Ethanol Expansion & Policy Shift Dwarikesh stands to benefit from the Indian government’s recent decision to remove all quantitative restrictions on ethanol production from sugarcane juice and molasses for the 2025-26 supply year. The company currently operates significant distillation capacities, including 162.5 KLPD at its Dwarikesh Nagar unit and 175 KLPD at the Dwarikesh Dham unit. Industrial alcohol sales for the first half of FY26 increased to 21,649 KL. Dividends & Corporate Governance The company paid a final dividend of ₹0.50 per equity share (50%) for the financial year ending March 2025, with the record date set in August 2025. In recent board updates, the company recorded the retirement of directors Shri K.N. Prithviraj and Ms. Nina Chatrath, while deliberating on the reappointment of independent directors Shri Rajan Madhekar and Shri Gopal Bhimrao Hosur.