Magadh Sugar & Energy Q4 FY26: EBITDA Falls to 780M Rupees, ₹12.50 Dividend Recommended

The Board of Directors of Magadh Sugar & Energy Limited convened a meeting on May 11, 2026, and approved the audited financial results for the quarter and year ended March 31, 2026, pursuant to Regulation 30 and 33 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The statutory auditors, M/s. B S R & Co. LLP, Chartered Accountants (Firm Registration No. 101248W/W-100022), issued an audit report with an unmodified opinion on the annual financial results. The meeting commenced at 12:00 Noon and concluded at approximately 02:45 p.m.

Key Financial Highlights

The company's consolidated financial performance for the year ended March 31, 2026, reflected a decline compared to the previous year. Total income stood at ₹1,24,878.34 lakhs for FY26, against ₹1,32,510.66 lakhs in FY25. Net profit after tax for the full year was ₹6,350.76 lakhs, compared to ₹10,944.61 lakhs in the prior year. On a quarterly basis, Q4 FY26 net profit after tax stood at ₹4,855.16 lakhs, compared to ₹7,150.55 lakhs in Q4 FY25, reflecting a year-on-year decline. Q4 revenue came in at 2.91B rupees versus 3.6B rupees in the same period last year, while Q4 EBITDA declined to 780M rupees from 1.2B rupees year-on-year. The Q4 EBITDA margin contracted to 26.82% from 32.49% in the corresponding prior-year period. The following table summarises the key financial metrics (₹ in lakhs):

Metric: Q4 FY26 (Audited) Q3 FY26 (Unaudited) Q4 FY25 (Audited) FY26 (Audited) FY25 (Audited) Revenue from Operations: 29,067.05 29,641.99 35,520.75 1,24,453.71 1,32,228.50 Other Income: 206.55 90.32 82.09 424.63 282.16 Total Income: 29,273.60 29,732.31 35,602.84 1,24,878.34 1,32,510.66 Total Expenses: 22,974.75 26,082.62 25,983.23 1,16,271.76 1,17,732.65 Profit Before Exceptional Items & Tax: 6,298.85 3,649.69 9,619.61 8,606.58 14,778.01 Exceptional Items: 73.03 (156.35) — (83.32) — Profit Before Tax: 6,371.88 3,493.34 9,619.61 8,523.26 14,778.01 Total Tax Expense: 1,516.72 984.79 2,469.06 2,172.50 3,833.40 Net Profit After Tax: 4,855.16 2,508.55 7,150.55 6,350.76 10,944.61 Total Comprehensive Income: 4,893.42 2,507.42 7,159.20 6,385.63 10,947.97 Basic & Diluted EPS (₹): 34.46* 17.80* 50.75* 45.07 77.67

* not annualised

The table below presents the key Q4 EBITDA and margin metrics on a year-on-year basis:

Metric: Q4 FY26 Q4 FY25 Revenue: 2.91B Rupees 3.6B Rupees EBITDA: 780M Rupees 1.2B Rupees EBITDA Margin: 26.82% 32.49%

Segment-Wise Performance

The company operates across three business segments — Sugar, Distillery, and Co-generation. The Sugar segment remained the largest contributor to total segment revenue. The following table presents segment-wise revenue and results for the year ended March 31, 2026 (₹ in lakhs):

Segment: Revenue FY26 Revenue FY25 Results FY26 Results FY25 Sugar: 1,09,105.22 1,19,119.91 8,468.45 11,419.28 Distillery: 29,792.00 29,581.59 3,397.69 6,003.90 Co-generation: 7,424.97 8,380.04 1,800.05 2,178.47 Total Segment: 1,46,322.19 1,57,081.54 13,666.19 19,601.65

After deducting inter-segment revenue of ₹21,868.48 lakhs (FY25: ₹24,853.04 lakhs), total revenue from operations for FY26 stood at ₹1,24,453.71 lakhs.

Balance Sheet and Cash Flow Summary

As at March 31, 2026, the company's total assets stood at ₹1,67,990.79 lakhs, compared to ₹1,68,898.45 lakhs as at March 31, 2025. Total equity increased to ₹88,019.16 lakhs from ₹83,394.98 lakhs in the prior year, supported by other equity of ₹86,610.00 lakhs. Total liabilities declined to ₹79,971.63 lakhs from ₹85,503.47 lakhs. The following table highlights key balance sheet items (₹ in lakhs):

Parameter: As at 31.03.2026 As at 31.03.2025 Total Non-Current Assets: 99,661.80 94,866.79 Total Current Assets: 68,328.99 74,031.66 Total Assets: 1,67,990.79 1,68,898.45 Total Equity: 88,019.16 83,394.98 Total Non-Current Liabilities: 25,229.06 23,235.70 Total Current Liabilities: 54,742.57 62,267.77 Total Liabilities: 79,971.63 85,503.47

On the cash flow front, net cash generated from operating activities for FY26 was ₹14,841.17 lakhs (FY25: ₹13,935.54 lakhs). Net cash used in investing activities was ₹7,778.34 lakhs, while net cash used in financing activities was ₹7,043.78 lakhs. Cash and cash equivalents at the end of the year stood at ₹30.42 lakhs, up from ₹11.37 lakhs at the beginning of the year.

Dividend Recommendation and Corporate Actions

The Board of Directors recommended a final dividend of ₹12.50 per equity share of ₹10 each (125%) for the year ended March 31, 2026, subject to approval of shareholders at the ensuing Annual General Meeting. The paid-up equity share capital of the company remained unchanged at ₹1,409.16 lakhs.

The Board also approved the following corporate actions at its May 11, 2026 meeting:

Appointment of Independent Director: Mr. Rajan Arvind Dalal (DIN: 00546264) has been appointed as an Independent Director for a term of five years with effect from May 11, 2026, subject to shareholder approval. Mr. Dalal brings over 50 years of experience across various businesses, including international and financial markets, wealth management, and investment in equity and debt markets. He has been confirmed as not debarred from holding the office of director by virtue of any SEBI order or any other authority.

Re-appointment of Cost Auditor: M/s D Radhakrishnan & Co., Cost Accountants, Kolkata, has been re-appointed as Cost Auditor for the financial year 2026-27 to audit cost accounting records relating to Sugar, Industrial Alcohol, and Power, subject to ratification of their remuneration by shareholders at the ensuing Annual General Meeting.

Exceptional Items and Auditor's Note

The company recognised exceptional items in the results for the quarter and year ended March 31, 2026, following the Government of India's implementation of the New Labour Codes with effect from November 21, 2025. Based on certain estimates, the company assessed and recognised the financial impact as exceptional items. The management has stated it will continue to track and evaluate the impact of rules notified by the Central/State Government post March 31, 2026 and consider appropriate accounting treatment in relevant periods as needed. The audited financial results and segment results were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on May 11, 2026.

Magadh Sugar & Energy Limited announced its unaudited financial results for Q3FY26 ended December 31, 2025, showcasing strong operational performance across key metrics. The Board of Directors approved the quarterly results at their meeting held on February 6, 2026, demonstrating continued growth momentum in the sugar and energy sectors.

Regulatory Compliance and Newspaper Advertisement

Pursuant to Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, the company published newspaper advertisements in The Business Standard in English & Hindi (Lucknow Edition) on Saturday, February 7, 2026. The Board meeting commenced at 12:00 Noon and concluded at 2:15 PM on February 6, 2026. The unaudited financial results have been reviewed by the Audit Committee and received limited review from statutory auditors B S R & Co. LLP as required under regulatory guidelines.

Q3FY26 Financial Performance

The company delivered robust financial results with significant improvements in profitability and operational efficiency during the third quarter.

Financial Metric: Q3FY26 Q3FY25 Growth (%) Total Income from Operations: ₹2,964.20M ₹2,838.37M +4.43% Net Profit After Tax: ₹250.86M ₹211.48M +18.62% Net Profit Before Tax: ₹349.33M ₹282.77M +23.54% EPS (Basic & Diluted): ₹17.80 ₹15.00 +18.67% Equity Share Capital: ₹140.92M ₹140.92M -

Nine-Month Performance Comparison

For the nine months ended December 31, 2025, the company's performance metrics demonstrate the seasonal nature of the sugar industry.

Performance Metric: 9M FY26 Details Total Income from Operations: ₹9,538.67M Comprehensive revenue across segments Net Profit After Tax: ₹149.56M Reflecting seasonal variations EPS (Basic & Diluted): ₹10.61 Not annualised Total Comprehensive Income: ₹149.22M Including other comprehensive income

Operational Efficiency and Margin Expansion

Magadh Sugar & Energy achieved remarkable operational improvements with substantial margin expansion demonstrating effective cost optimization and operational leverage across business segments. The company's diversified business model across sugar, distillery, and co-generation segments contributed to overall performance stability.

Exceptional Items and Regulatory Changes

The company recognized an exceptional item of ₹156.35M during Q3FY26 related to the Government of India's consolidation of multiple labour legislations into four unified Labour Codes on November 21, 2025. The Ministry of Labour & Employment issued draft Central Rules and FAQs on December 30, 2025, and the company continues to monitor evolving regulations for potential future impacts.

Corporate Governance and Transparency

The detailed financial results are available on the company's website at www.magadhsugar.com and on BSE Limited and National Stock Exchange of India Limited websites at www.bseindia.com and www.nseindia.com respectively. The results were approved by Chairperson Chandra Shekhar Nopany (DIN - 00014587) on behalf of the Board of Directors.

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