Shree Renuka Sugars in Focus After Announcing Q3 Results; Check Details

Synopsis: The ethanol stock reported a 12.7% YoY decline in Q3FY26 revenue to ₹2,273 crore, operating performance improved as EBITDA turned positive at ₹249 crore and net loss narrowed sharply to ₹38 crore.

A small cap company that is engaged in the manufacturing and refining of sugar, ethyl alcohol, ethanol, generation and sale of power is in the spotlight after announcing Q3 FY26 results, drawing investor attention.

With a market capitalization of Rs. 5,195.64 crore, the shares of Shree Renuka Sugars Limited were trading at Rs. 24.43 per equity share, down by 1.49 percent from its previous day’s closing price of Rs. 24.80 per equity share. 

Q3FY26 Results

The company reported revenue of Rs. 2,273 crore in Q3 FY26, which declined 12.7 percent YoY from Rs. 2,603 crore in Q3 FY25 and fell 6.2 percent QoQ from Rs. 2,423 crore in Q2 FY26, reflecting pressure on topline performance both annually and sequentially.

EBITDA turned positive at Rs. 249 crore in Q3 FY26, marking a sharp turnaround from a marginal loss of Rs. 2 crore in Q3 FY25 and a loss of Rs. 182 crore in Q2 FY26, a significant recovery in operating performance.

The company posted a net loss of Rs. 38 crore in Q3 FY26, which narrowed substantially from a loss of Rs. 204 crore in Q3 FY25 and from a loss of Rs. 369 crore in Q2 FY26, indicating strong progress toward profitability despite remaining in the red.

Revenue Segmentation

Total revenue from operations was Rs. 2,970 crore, inter-segment revenue of Rs. 633.6 crore was eliminated on consolidation, resulting in net revenue from operations of Rs. 2,273.4 crore.

Based on total segment revenue of Rs. 2,907 crore, the Sugar–Refinery segment contributed Rs. 1,641.4 crore, accounting for 56.5 percent of revenue, followed by Sugar–Milling at Rs. 902.7 crore, representing 31.1 percent. The Co-generation segment added Rs. 160.9 crore (5.5 percent), while the Distillery segment contributed Rs. 157.7 crore (5.4 percent). Smaller contributions came from Engineering at Rs. 34.2 crore (1.2 percent), Trading at Rs. 6.1 crore (0.2 percent), and Other activities at Rs. 4.0 crore (0.1 percent), highlighting the company’s heavy reliance on its core sugar businesses.

Shree Renuka Sugars Limited, incorporated in 1995 and headquartered in Mumbai, is an integrated sugar company operating in India and overseas across sugar milling and refining, trading, distillery, co-generation, and engineering segments. It produces branded refined sugar, ethanol and ethyl alcohol, generates power from bagasse, provides EPC solutions for fermentation and distillation plants, exports its products, and operates as a subsidiary of Wilmar Sugar and Energy Pte. Ltd.

As of December 2025, the company’s shareholding pattern shows that promoters hold 62.48 percent of the total equity, indicating strong promoter ownership. Foreign Institutional Investors (FIIs) hold 3.30 percent, while Domestic Institutional Investors (DIIs) own 10.11 percent. The public shareholding stands at 24.09 percent, reflecting a healthy level of retail participation in the company.

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