MAWANA SUGARS LTD. Q1 FY27 Results

Mawana Sugars' consolidated Q1 FY27 (quarter ended June 30, 2026) revenue rose 3.8% YoY to ₹415.66 Cr (₹400.53 Cr a year ago) and 11.0% QoQ (₹374.41 Cr in Q4 FY26), but the company stayed in the red — consolidated net loss widened to ₹23.09 Cr from ₹13.54 Cr in Q1 FY26, roughly a 71% YoY deepening, and reversed sharply from the ₹62.83 Cr profit booked in Q4 FY26. Standalone tracked almost identically (loss ₹23.21 Cr, EPS -₹5.93 vs consolidated EPS -₹5.90), so the two bases tell the same story this quarter. There were no exceptional items in either the current or year-ago quarter — unlike Q3 and Q4 FY26, which carried Code on Wages-related exceptional entries — so this loss is purely operational, not distorted by one-offs.

The margin picture backs up the operational read: consolidated NPM fell to -5.55% from -3.37% YoY, and an EBITDA-style operating margin (PBT plus finance costs and depreciation, over revenue) slipped to roughly -3.8% from near-breakeven a year ago. By segment, Sugar's pre-tax loss widened to ₹17.24 Cr from ₹6.99 Cr YoY, and Power swung to a ₹4.56 Cr loss from a ₹1.33 Cr profit; Distillery remained the lone profitable segment at ₹4.37 Cr, roughly flat YoY. Management notes (note 3) that sugar and power are seasonal businesses and Q1 (April-June) sits outside the main crushing season, which explains the reversal from Q4's ₹62.83 Cr profit — that QoQ swing is a seasonality artifact, not a sequential deterioration signal.

There is no formal management guidance or prior concall commentary on record for this quarter, and a web search turned up no analyst/street estimates for Mawana Sugars' Q1 FY27 — coverage on this micro-cap appears thin, so both vsGuidance and vsStreet are unknown rather than assumed. The results were approved alongside two unrelated corporate actions: a one-year renewal of MD Rakesh Kumar Gangwar's remuneration (Aug 13, 2026-Aug 12, 2027) and the re-appointment of Satish Agrawal as independent director, both pending shareholder approval via postal ballot. Separately, the NCLT has reserved its order on the proposed amalgamation of subsidiary Mawana Foods Pvt Ltd (which contributed just ₹9.92 Cr revenue and ₹0.09 Cr PAT this quarter) into the parent; this quarter's results exclude any effect of that scheme pending the final order.