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Simbhaoli Sugars Limited announced the outcome of the Interim Resolution Professional (IRP) convened meeting held on December 29, 2025. The meeting considered and took note of the Standalone Unaudited Financial Statement for the quarter ended September 30, 2025. The financial results, along with the Limited Review Report of the auditors, were attached. The report highlights several qualifications due to the ongoing Corporate Insolvency Resolution Process (CIRP) initiated by an order dated July 11, 2024. Key qualifications include the non-provision of interest expenses on borrowings from banks (₹8691.77 Lakhs for the quarter), interest on unsecured loans from related parties, and interest on delayed sugarcane payments to farmers.

Furthermore, the auditors could not comment on the realizability of receivables from its subsidiary, Simbhaoli Power Private Limited (SPPL), due to unaddressed claims and potential impairment losses on investments in SPPL and Integrated Casetech Consultants Pvt. Ltd. (ICCPL). The company's financial statements are prepared on a going concern basis, despite a fully eroded net worth and significant liabilities, with the IRP managing operations as per the Insolvency and Bankruptcy Code (IBC).

The financial results for the quarter ended September 30, 2025, show a total income of ₹23,154.26 Lakhs and total expenses of ₹25,349.53 Lakhs, resulting in a net loss of ₹2,195.27 Lakhs. The basic and diluted loss per share was ₹5.32.

The auditors also noted that remuneration paid to the Managing Director and Whole-Time Director during previous financial years and the CIRP period was done without obtaining consent from all lenders, contravening Section 197 of the Companies Act, 2013. The tenure of the Chief Financial Officer (CFO) has expired, and remuneration for the period after expiry is not provided pending approval. No provision has been recognized for Corporate Insolvency Resolution Process (CIRP) costs as the Committee of Creditors (COC) has not been constituted.