Zuari Industries Reports Q1 Results: Revenue Rises Standalone Amid Seasonal Fluctuations in SPE Division
Gurugram, August 13, 2026 – Zuari Industries Limited (BSE: 500780, NSE: ZUARIIND) announced its unaudited financial results for the quarter ended June 30, 2026. The Company reported Revenue from Operations of ₹ 266.5 crore on a standalone basis, reflecting a 27% increase from Q1 FY26, while Operating EBITDA stood at ₹ 13.9 crore. Standalone Profit Before Tax (PBT), before exceptional items, registered at ₹( 4.4) crore. On a consolidated level, Revenue from Operations reached ₹ 311.9 crore, an increase of 21% compared to Q1 FY26, with Consolidated Profit After Tax (PAT) standing at ₹ 0.05 crore. The company also reported reducing its cost of borrowing by 56 basis points year-on-year.In the sugar business segment, which operates seasonally, the Sugar, Power & Ethanol (SPE) division operated for six days during the quarter. This followed zero crushing activity in the previous corresponding quarter. Due to higher domestic sales quota allocation, sugar sales increased to 4.7 lakh quintals from 3.6 lakh quintals in Q1 FY26. The average sugar realisation improved to ₹ 4,116 per quintal, supported by robust demand and stable prices. Ethanol sales saw a marginal increase to 10,248 KL from 9,757 KL, while power exports increased due to mill operation during the quarter. The division is also making timely repair and maintenance preparations for the upcoming sugar season.
The real estate subsidiary, Zuari Infraworld India Ltd. (ZIIL), achieved a key milestone with the completion of The St. Regis Residences in Dubai, and handovers are now underway. The Company continues to advance its development mandates across Hyderabad and Kolkata. During this quarter, ZIIL executed the Development Management Agreement for a plotted project in Nelamangala, Bengaluru.
The engineering arm, Simon India Ltd (SIL), is actively executing ongoing EPC projects valued at approximately ₹ 70 crore. Geopolitical uncertainties in West Asia have led to a cautious capital expenditure environment across sectors impacting the EPC industry. Despite this, Zuari Industries maintains its focus on expanding its order book within core sectors and advancing digitalization and AI-led initiatives across project execution and critical processes.
Financial Performance Snapshot
The financial health of the company across all segments and entities is summarized below:Standalone Key Financials (Q1 FY27 vs Q1 FY26)
| ZIL Standalone | Q1 FY27 | Q1 FY26 |
|---|---|---|
| Revenue from Operations (A) | 266.5 | 210.3 |
| Other income (B) | 17.4 | 14.5 |
| Total Income (C = A + B) | 283.9 | 224.7 |
| EBITDA (Operating) (D) | 13.9 | 22.4 |
| EBITDA (E) | 31.3 | 36.9 |
| Finance Cost (F) | 29.0 | 29.7 |
| Dep & Amort. (G) | 6.7 | 6.3 |
| PBT (Before Excep. Item) (H=E-F-G) | (4.4) | 0.9 |
Consolidated Segment Revenue and Results (Q1 FY27 vs Q1 FY26)
| Particulars | Q1 FY27 | Q1 FY26 |
|---|---|---|
| Sugar Segment Revenue | 236.8 | 176.7 |
| Ethanol Plant Segment Revenue | 64.0 | 61.4 |
| Real Estate Segment Revenue | 15.2 | 9.3 |
| Engineering Services Segment Revenue | 11.6 | 15.2 |
| Others Segment Revenue | 15.4 | 18.6 |
| Total Segment Revenue (Less: Intersegment Revenue) | 311.9 | 257.5 |
| Sugar Segment Results | 8.4 | 12.3 |
| Ethanol Plant Segment Results | 4.8 | 8.5 |
| Real Estate Segment Results | (2.1) | (3.8) |
| Engineering Services Segment Results | (2.1) | 1.0 |
| Others Segment Results | (0.8) | 1.8 |
Commenting on the results, Mr. Athar Shahab, Managing Director, Zuari Industries Ltd, noted that the first quarter is typically a period of lower activity for the Sugar, Power & Ethanol division due to the seasonality of the sugar business. He added that improved sugar sales and realisations supported performance, while ethanol distillery operations remained stable. The completion of The St. Regis Residences in Dubai marks an important milestone for the Real Estate business, and inventory handovers are underway with profit repatriation from the project having commenced. Mr. Shahab also stated that Simon India continues to make progress across its EPC projects while strengthening its engineering capabilities. Across all businesses, the company remains focused on disciplined execution, improving operational efficiencies, and maintaining financial discipline to strengthen core businesses and create long-term value for stakeholders.
ZUARIIND Stock Price Movement
On Thursday, shares of ZUARI INDUSTRIES LIMITED shed 3.37% in the market session, settling at ₹259.05. The stock traded on a volume of 113,390 shares, recording a low of ₹257 during the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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