Zuari Industries Limited announced its unaudited financial results for the quarter ended December 31, 2025, delivering steady operational performance across key business segments.
On a standalone basis, the company reported:
*Total Revenue: ₹254.7 crore in Q3 FY26
*Revenue (9M FY26): ₹727.6 crore
*EBITDA: ₹36.3 crore for the quarter; ₹125.7 crore for nine months
*Profit Before Tax (before exceptional items): ₹4.5 crore in Q3 FY26; ₹24.0 crore in 9M FY26
*The performance reflects disciplined cost management and operational stability during the period.
Consolidated Performance Shows Profitability Improvement
On a consolidated basis:
*Total Revenue: ₹301.5 crore in Q3 FY26
*Revenue (9M FY26): ₹855.6 crore
*Profit After Tax (Q3 FY26): ₹(26.4) crore versus ₹(25.2) crore in Q3 FY25
*Profit After Tax (9M FY26): ₹137.4 crore compared to ₹(73.6) crore in the corresponding period last year
Importantly, the company benefited from a reduction in its average borrowing cost, which supported overall financial discipline and strengthened its balance sheet position.
Sugar, Power and Ethanol Division Delivers Record Crushing
The Sugar, Power and Ethanol (SPE) division demonstrated strong operational momentum. Crushing operations commenced on 26 October 2025, marking the earliest-ever start for the company.
Key highlights include:
*Highest-ever Q3 crush: 67.28 lakh quintals
*Sugar production growth: Up 13.7% YoY
*Ethanol production growth: Up 4.8% YoY
*Average sugar realization: Improved 5.9% YoY in Q3 FY26
These gains underscore improved preparedness, operational efficiency, and stronger market realizations during the quarter.
EPCM Business Expands Order Book
Simon India Limited, the group’s EPCM arm, commissioned the fifth Evaporator project for Paradeep Phosphates Limited and is currently executing projects worth approximately ₹100 crore. Additionally, the company continues to deepen domain expertise through partnerships with global technology licensors and research institutions. At the same time, it is investing in AI-driven in-house solutions, positioning itself at the forefront of digital transformation in the EPC sector.
Management Commentary
Athar Shahab, Managing Director, Zuari Industries Ltd., said the third quarter reflected steady operational progress across the Sugar, Power & Ethanol division, supported by strong execution during the crushing season. He highlighted the earliest-ever crushing start and record Q3 performance as indicators of improved operational preparedness. Ethanol operations remained stable, while lower borrowing rates and reduced finance costs strengthened financial discipline.
He further noted that the real estate business is nearing completion of The St. Regis Residences, Dubai project, while the EPCM arm continues to expand execution capabilities and build a strong order pipeline. In financial services, the company remains focused on customer-centric platform enhancements. The successful commissioning of the 180 KLPD bioethanol plant marks a key milestone in the company’s bioenergy journey.
Outlook
As per the press release, Zuari Industries remains focused on strengthening its core businesses while pursuing growth opportunities across sugar, bioenergy, real estate, EPCM, and financial services. With operational efficiencies improving and borrowing costs declining, the company aims to deliver sustainable, long-term value for its stakeholders.
