KESAR ENTERPRISES LTD.-$

Kesar Enterprises Ltd has announced the termination of a Memorandum of Understanding (MoU) dated September 8, 2026, with Avadh Foods and Multi Warehouse Private Limited for the sale of its sugar undertaking at Baheri. The termination is effective October 31, 2026, due to the buyer's failure to make stipulated payments and cure defaults. Consequently, the sale will not proceed, and the undertaking remains with Kesar Enterprises. The company intends to pursue legal action against the buyer and will explore other options for the undertaking, with material developments to be disclosed.

Kesar Enterprises Ltd has announced the closure of its trading window for directors, key managerial personnel, and designated employees, along with their immediate relatives. This closure is in accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's code of conduct. The trading window will be shut from October 1, 2026, and will reopen 48 hours after the declaration of the financial results for the quarter ending September 30, 2026. The company will separately inform the exchange about the date of the board meeting to approve these financial results.

Kesar Enterprises Ltd has approved the slump sale of its Sugar, Distillery, and Cogen divisions located in Bihar, UP, to Avadh Foods and Multi Warehouse Private Limited for ₹431 crores. The transaction is subject to shareholder and regulatory approvals. The sale is expected to be completed by June 15, 2027. The divisions contributed ₹304.50 crore in revenue and had a net worth of -₹133.24 crore in the last financial year. The buyer is an unrelated third party, and the transaction is not a related party transaction.

Kesar Enterprises Ltd's Board of Directors has approved the slump sale of its Sugar, Distillery, and Cogen divisions located in Baheri, Uttar Pradesh, to Avadh Foods and Multi Warehouse Private Limited for a consideration of ₹431 crores. The transaction is subject to shareholder and regulatory approvals, with completion expected by June 15, 2027. The buyer is an unrelated third party. This sale represents a significant divestment of the company's undertaking, with the divisions contributing 100% of revenue and 99.55% of total income in the last financial year. The net worth of these divisions was negative ₹133.24 crores.

Kesar Enterprises Ltd has announced the acceptance of a One-Time Settlement (OTS) for its Cogeneration Loan, sanctioned by the Sugar Development Fund (SDF) and administered through IFCI Limited. The company opted for this settlement to conclusively resolve outstanding dues under the loan, in accordance with the Sugar Development Fund Act, 1982, and Rules, 1983. The Board of Directors approved the OTS on August 25, 2026, following administrative approval received on August 18, 2026. The settlement amount must be paid within six months from the administrative approval date. This move aims to clear existing financial obligations related to the cogeneration facility.

Kesar Enterprises Ltd reported its financial performance for FY 2025-26, with revenue from operations at ₹304.50 crore, a decrease from ₹333.97 crore in the previous year, mainly due to lower sugar sale volumes. However, the company successfully narrowed its net loss to ₹48.41 crore from ₹72.62 crore in FY 2024-25. EBITDA also showed improvement, moving from a negative ₹38.92 crore to a negative ₹11.00 crore. This improvement was attributed to cost discipline and one-off items like an interest write-back, an insurance claim, and proceeds from land rights sale. The company's crushing operations were impacted by delayed payments to farmers, affecting its command area. The Power Division benefited from revised tariffs, while the Spirits Division remained shut due to unviable molasses costs and realisations. The outlook for the Uttar Pradesh sugar industry is cautiously positive, with expectations of steady sugar prices.

Kesar Enterprises Ltd conducted its 91st Annual General Meeting (AGM) on August 20, 2026, via Video Conferencing. The meeting was chaired by Shri Harsh R Kilachand, Chairman & Managing Director. Key agenda items included the adoption of audited financial statements for FY 2025-26, the re-appointment of Shri Devendra J Shah as Director, ratification of remuneration for the Cost Auditor, and approval of material related party transactions with Kesar Terminals & Infrastructure Limited. The Statutory Auditors' report had no qualifications, while the Secretarial Auditors' report had certain observations which were explained. E-voting facilities were available throughout and post the meeting.

Kesar Enterprises Ltd announced its unaudited financial results for the quarter ended June 30, 2026. The Board of Directors approved and took on record the results during a meeting held on August 13, 2026. The company's financial statements have been prepared on a going concern basis, despite accumulated losses and erosion of net worth, due to expected improvements in revenue and business operations. The company is also seeking investors and monetizing non-operating assets to improve operational capabilities. A note highlights the sale of entire inventory in the previous year, impacting current quarter sales, and a default on a term loan from the Sugar Development Fund, with a petition filed under the Insolvency and Bankruptcy Code, 2016.

Kesar Enterprises Ltd announced its unaudited financial results for the quarter ended June 30, 2026. The Board of Directors approved and took on record the results during their meeting on August 13, 2026. The company's financial statements have been prepared on a 'going concern' basis despite accumulated losses and erosion of net worth, with management actively seeking investors and monetizing non-operating assets to improve operational capabilities. The company has also defaulted on a term loan for its Cogeneration Power plant, leading to an insolvency petition filed by SDF, which the company is contesting while pursuing a One Time Settlement proposal.

Kesar Enterprises Ltd has announced that its Board of Directors will convene on August 13, 2026. The primary agenda item for this meeting is to consider and approve the company's Unaudited Financial Results for the quarter ended June 30, 2026. In compliance with SEBI regulations, the trading window for the company's equity shares has been closed and will reopen 48 hours after the financial results are declared.