Parvati Sweetners and Power Ltd (541347)
Latest quarterly results (Q4 FY26)
In its latest reported quarter, Q4 FY26, Parvati Sweetners' revenue was ₹15.1 Cr (+32.0% year on year), and net profit ₹-2.5 Cr (against a profit a year earlier); the operating margin was -8.0%.
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹15.1 | +32.0% | — |
| Operating profit | ₹-1.2 | to loss | loss narrowed |
| Net profit | ₹-2.5 | to loss | loss narrowed |
| EPS (₹) | -0.17 | to loss | loss narrowed |
| Operating margin | -8.0% | — | — |
📢 Recent Corporate Announcements
Parvati Sweetners and Power Ltd has provided an update on its proposed acquisition of a 51% equity stake in M/s. Vedshree Food Industries Private Limited. The transaction, initially intimated on May 30, 2026, has received approvals from the Board and shareholders. The company is currently securing necessary government authority approvals, with conditions precedent progressing as per the Share Purchase Agreement. Deal valuation and financials were not disclosed in the filing.
- Acquisition of a 51% majority equity stake in Vedshree Food Industries Private Limited
- Shareholder approval secured following previous Board and Audit Committee clearances
- Transaction actively undergoing regulatory approvals from concerned government authorities
- Follows initial Share Purchase Agreement disclosure dated May 30, 2026
Parvati Sweetners and Power Ltd has scheduled its 15th Annual General Meeting (AGM) for September 29, 2026, to be held via video conferencing. The company has established September 22, 2026, as the cut-off date for determining shareholder eligibility for remote e-voting. The e-voting period will run for three days, starting September 26 and concluding on September 28, 2026. This is a standard regulatory filing to facilitate shareholder participation in corporate governance.
- 15th Annual General Meeting scheduled for Tuesday, September 29, 2026
- Cut-off date for e-voting entitlement set for September 22, 2026
- Remote e-voting window open from September 26 (9:00 AM) to September 28, 2026 (5:00 PM)
- Meeting to be conducted through Video Conferencing (VC) or Other Audio Visual Means (OAVM)
Parvati Sweetners and Power Ltd has announced its 15th Annual General Meeting (AGM) will be held on September 29, 2026, via video conferencing. In preparation for the meeting, the company will close its register of members and share transfer books from September 23 to September 29, 2026. This is a standard regulatory procedure and does not involve any dividend declaration or corporate action beyond the meeting itself. The company is currently navigating a difficult financial period, with a TTM net loss of ₹13 crore on revenue of ₹18 crore.
- 15th Annual General Meeting (AGM) scheduled for September 29, 2026, at 11:30 A.M.
- Book closure period set for 7 days from September 23, 2026, to September 29, 2026
- Meeting to be conducted via Video Conferencing (VC) or Other Audio Visual Means (OAVM)
- Company reported a TTM revenue of ₹18 crore, significantly lower than FY25 revenue of ₹54 crore
- Operating profit margin remains deeply negative at -43.0% for the trailing twelve months
Parvati Sweetners and Power Ltd reported a massive revenue surge to Rs 35.73 Cr in Q1 FY27, a 1,218% increase from Rs 2.71 Cr in Q1 FY26. The company achieved a marginal turnaround with a net profit of Rs 5.17 Lakhs, compared to a net loss of Rs 3.50 Cr in the same quarter last year. This growth was driven by a combination of increased trading activity (Rs 16.28 Cr in stock purchases) and significant inventory liquidation (Rs 16.14 Cr). Despite the scale-up, net margins remain extremely thin at 0.14%, as total expenses nearly matched total revenue.
- Revenue from operations surged to Rs 35.73 Cr, representing approximately 198% of the entire FY26 revenue (Rs 18 Cr).
- Turned profitable with a PAT of Rs 5.17 Lakhs vs a loss of Rs 3.50 Cr in the year-ago period.
- Purchase of stock in trade rose to Rs 16.28 Cr from zero in Q1 FY26, indicating a shift toward trading operations.
- Inventory liquidation contributed Rs 16.14 Cr to the cost of goods sold, explaining the high revenue relative to low raw material consumption (Rs 1.15 Cr).
- Finance costs reduced by 34% YoY to Rs 36.73 Lakhs from Rs 55.89 Lakhs.
Parvati Sweetners and Power Ltd reported a significant turnaround in Q1 FY27, with revenue from operations reaching ₹35.73 Cr, a massive jump from ₹2.71 Cr in the same quarter last year. The company posted a net profit of ₹0.32 Cr, recovering from a net loss of ₹3.50 Cr in Q1 FY26. Notably, this single quarter's revenue is nearly double the total TTM revenue of ₹18 Cr reported for the entire FY26. The board also approved the re-appointment of Poonam Chouksey as Managing Director for a three-year term.
- Revenue from operations increased by over 1,200% YoY to ₹35.73 Cr in Q1 FY27.
- Turned profitable with a net profit of ₹31.71 Lakhs compared to a loss of ₹350.26 Lakhs in Q1 FY26.
- Purchase of stock-in-trade accounted for ₹16.28 Cr of expenses, indicating high trading activity during the quarter.
- Re-appointment of Smt. Poonam Chouksey as Chairman and Managing Director for 3 years effective September 21, 2026.
- Annual General Meeting (AGM) scheduled for September 29, 2026.
Parvati Sweetners and Power Ltd has scheduled a board meeting on August 12, 2026, to approve its unaudited financial results for the quarter ended June 30, 2026. The board will also consider the re-appointment of Smt. Poonam Chouksey as Chairman and Managing Director for a three-year term effective September 21, 2026. This follows a difficult FY26 where the company reported a net loss of ₹13 crore on revenue of ₹18 crore. Investors will be monitoring for any recovery in operating margins, which stood at -43% for the trailing twelve months.
- Board meeting scheduled for August 12, 2026, to approve Q1 FY27 results.
- Proposal to re-appoint Smt. Poonam Chouksey as MD for a 3-year term starting September 21, 2026.
- Company reported a TTM net loss of ₹13 crore against a market cap of ₹99 crore.
- Trading window for insiders remains closed until 48 hours after the results declaration.
- Meeting will also finalize details for the 15th Annual General Meeting (AGM).
Financial Performance
Revenue Growth by Segment
Total Operating Income fell 33.5% YoY to INR 53.57 Cr in FY25 from INR 80.58 Cr in FY24. Segment-specific growth for sugar and power is not explicitly detailed in the provided documents.
Geographic Revenue Split
100% of revenue is concentrated in Madhya Pradesh, exposing the company to significant regional risk and supply chain concentration.
Profitability Margins
EBITDA margin was 13.26% in FY25 (vs 13.60% in FY24); PAT margin was 1.09% in FY25 (vs 1.77% in FY24). The decline was driven by higher operating costs and lower realizations.
EBITDA Margin
13.26% in FY25, reflecting a slight YoY decline from 13.60% due to regional supply disruptions and rising operational expenses.
Capital Expenditure
The company has applied for an expansion of its crushing capacity from 2500 TCD to 5000 TCD; however, the specific planned capital expenditure in INR Cr is not disclosed.
Credit Rating & Borrowing
Credit rating was reaffirmed at IVR BB but the outlook was revised from Stable to Negative in November 2025 due to operating losses in H1 FY26. Total debt stood at INR 30.41 Cr as of March 31, 2025.
Operational Drivers
Raw Materials
Sugarcane is the primary raw material. Shortages and supply disruptions in the Madhya Pradesh region led to operating losses in H1 FY26 and a 33.5% decline in revenue in FY25.
Import Sources
Sourced locally from the Dabra district and surrounding regions in Madhya Pradesh.
Key Suppliers
Sourced from local sugarcane farmers in Madhya Pradesh; specific company names are not disclosed.
Capacity Expansion
Current installed capacity is 2500 TCD (Tonnes Crushed per Day) for sugar and 3.75 MW for cogeneration. The company has applied for expansion to 5000 TCD.
Raw Material Costs
Not disclosed as a specific percentage of revenue; however, costs rose in FY25 due to sugarcane shortages and supply disruptions.
Manufacturing Efficiency
Crushing rate of 2500 TCD; efficiency is impacted by sugarcane availability and regional supply disruptions.
Strategic Growth
Growth Strategy
Doubling crushing capacity to 5000 TCD to achieve economies of scale and utilizing multi-fuel boilers to process raw sugar during the off-season to ensure year-round revenue generation.
Products & Services
Manufactured sugar and power generated through cogeneration.
Brand Portfolio
Operated under the LNCT Group umbrella.
Market Expansion
Focused on Madhya Pradesh; expansion of existing facility in Dabra to 5000 TCD.
Strategic Alliances
Part of the LNCT Group, which provides promoter support for debt obligations during periods of operating losses.
External Factors
Industry Trends
The industry is characterized by intense competition and commoditization. PSPL is positioning itself through capacity expansion and cogeneration to improve margins.
Competitive Landscape
Intense competition from other sugar mills in Madhya Pradesh and limited pricing power due to the commoditized nature of the product.
Competitive Moat
Established track record since 2013 and multi-fuel boiler capabilities provide a moderate, sustainable regional advantage in off-season processing.
Macro Economic Sensitivity
Highly sensitive to climatic conditions (rainfall) and regional agricultural output in Madhya Pradesh.
Geopolitical Risks
Limited, as operations and sales are primarily domestic within Madhya Pradesh.
Regulatory & Governance
Industry Regulations
Subject to sugar industry regulations and pollution norms; specific SEBI matters excluded.
Legal Contingencies
Pending litigations disclosed in Note 39 of the financial statements; specific aggregate value in INR is not provided in the available documents.
Risk Analysis
Key Uncertainties
Ability to restart operations by December 2025 and secure adequate sugarcane supply to reverse H1 FY26 operating losses.
Geographic Concentration Risk
100% revenue from Madhya Pradesh, exposing the company to regional agricultural and economic shocks.
Third Party Dependencies
High dependency on local sugarcane farmers for raw material supply.
Technology Obsolescence Risk
Multi-fuel boiler represents a technological adaptation to seasonal raw material shortages, reducing obsolescence risk.
Credit & Counterparty Risk
Stretched liquidity due to operating losses in H1 FY26, resulting in a high reliance on promoter support for debt obligations.
