Dwarikesh Sugar Q1FY27 loss widens to ₹25.7 Cr YoY as distillery revenue plunges 64%
PAT -174.2% YoY · revenue -11.67% · margins compressing
₹358.13 Cr
-11.67% YoY
₹-25.73 Cr
-174.2% YoY
-7.15%
-4.8pp YoY
₹-1.39
Dwarikesh Sugar's standalone net loss widened to ₹25.73 Cr in Q1FY27 (quarter ended June 30, 2026) from a ₹9.38 Cr loss a year ago, on revenue of ₹358.13 Cr — down 11.7% YoY and down 15.8% sequentially from the profitable ₹425.43 Cr, ₹57.41 Cr-PAT March 2026 quarter. Pre-tax loss widened to ₹34.38 Cr from ₹13.03 Cr YoY; a ₹8.65 Cr deferred-tax credit (versus a ₹3.65 Cr credit last year) cushioned but did not offset the deterioration. EPS came in at -₹1.39 versus -₹0.51 a year ago. There are no exceptional items in either period, so the entire widening is operational rather than a one-off.
Q1 FY-2027 vs prior quarters
The deterioration is driven almost entirely by the distillery segment, not sugar. Distillery revenue collapsed to ₹48.26 Cr from ₹133.66 Cr YoY (-63.9%), and the segment swung from a ₹15.84 Cr pre-tax profit a year ago to a ₹2.39 Cr loss this quarter — the single largest driver of the YoY swing. The sugar segment, meanwhile, saw revenue essentially flat (₹320.57 Cr, +2.0% YoY) but its own pre-tax loss widened to ₹28.24 Cr from ₹18.87 Cr, consistent with the company's own disclosure that Q1 (April-June) is structurally the leanest quarter for the sugar business given the seasonality of cane crushing, and results in any single quarter are not a proportionate reflection of annual performance.
The stock went into the print at ₹39.04, down 10.5% over the past month of trading.
What the summary numbers don't show
No consolidated statement — company confirms it has no subsidiary, associate or JV as of June 30, 2026
Management issued no press release with commentary alongside the filing, and our records hold no prior guidance or concall outlook to grade this print against — so vs-guidance is unrecorded rather than a miss. A web search for Street/brokerage previews specific to this quarter turned up nothing with a concrete consensus PAT or revenue estimate, so vs-Street is also unknown rather than inferred. The quarter's other corporate developments — the FY26 BRSR filing and the 32nd AGM scheduled for August 6, 2026 — are governance/compliance items unconnected to the operating numbers.
W1
Distillery segment recovery from this quarter's ₹48.26 Cr revenue / -₹2.39 Cr segment loss — watch whether Q2FY27 shows a rebound
W2
Sugar segment loss trajectory (-₹28.24 Cr this quarter) through the crushing season, against the ₹30.77 Cr full-year segment profit booked in FY26
W3
Reliance on deferred-tax credits (₹8.65 Cr this quarter) to cushion reported losses if operating losses persist
No exceptional items either period; no consolidated statement (company confirms no subsidiary/JV/associate). Q4FY26 column is a balancing figure per auditor note 5, unaffected here as only current-quarter column was used.