Bajaj Hindusthan Sugar Limited reported a 15.2% year-on-year (YoY) increase in consolidated net loss to ₹121.28 crore for the second quarter of FY27, compared with a net loss of ₹105.25 crore in the corresponding quarter last year.
The company’s consolidated revenue from operations declined 16.3% YoY to ₹968.43 crore in Q2 FY27, against ₹1,157.19 crore in Q2 FY26. Consolidated total income also decreased 16.5% to ₹970.79 crore from ₹1,162.32 crore in the year-ago quarter.
Despite the decline in revenue and wider net loss, the company recorded an improvement in its operating performance, with its EBITDA loss narrowing to approximately ₹43 crore from ₹54.3 crore in the corresponding quarter last year.
Bajaj Hindusthan Sugar Q2 Results : Key Financial Highlights
- Consolidated revenue from operations: ₹968.43 crore, down 16.3% YoY.
- Consolidated net loss: ₹121.28 crore, compared with ₹105.25 crore in Q2 FY26.
- Consolidated total income: ₹970.79 crore, down 16.5% YoY.
- Consolidated loss before tax from continuing operations: ₹106.06 crore, compared with ₹105.55 crore in the year-ago quarter.
- EBITDA loss: Approximately ₹43 crore, compared with ₹54.3 crore in Q2 FY26.
- Standalone revenue from operations: ₹962.48 crore.
- Standalone net loss: ₹164.54 crore, compared with ₹99.59 crore in Q2 FY26.
Operating Performance Shows Mixed Trends
Bajaj Hindusthan Sugar’s operating performance remained under pressure during the September quarter, although its EBITDA loss narrowed compared with the corresponding period last year.
The company’s consolidated loss before tax from continuing operations stood at ₹106.06 crore, against ₹105.55 crore in Q2 FY26. Meanwhile, consolidated finance costs increased to ₹8.77 crore from ₹2.54 crore in the year-ago quarter.
Depreciation and amortisation expenses also rose to ₹57.18 crore from ₹54.24 crore.
The company’s consolidated net loss was further affected by a loss of ₹15.51 crore from discontinued operations, compared with ₹0.02 crore in the corresponding quarter last year.
Sugar Business Revenue Declines
The sugar business remained the largest contributor to the company’s revenue during Q2 FY27. However, segment revenue declined to ₹852.14 crore from ₹1,093.73 crore in the corresponding quarter last year.
The segment’s loss before tax and interest narrowed to ₹46.56 crore, compared with ₹65.51 crore in Q2 FY26.
The decline in sugar segment revenue remained a key factor behind the company’s overall revenue contraction during the quarter.
Distillery Business Records Revenue Growth
The distillery business reported revenue of ₹109.56 crore during Q2 FY27, more than double the ₹51.02 crore recorded in the year-ago quarter.
However, the segment continued to report a loss, with its segment loss widening to ₹14.08 crore from ₹12.06 crore in Q2 FY26.
The increase in distillery revenue indicates higher business activity in the segment, although profitability remained under pressure.
Power Segment Performance Remains Weak
The company’s power segment recorded revenue of ₹2.67 crore in Q2 FY27, compared with ₹17.08 crore in the corresponding quarter last year.
The segment’s loss also widened to ₹28.06 crore from ₹16.15 crore in Q2 FY26, reflecting continued pressure on its financial performance.
Company Approves Sale of Singapore Subsidiary
Separately, the Board of Directors approved the sale of the company’s entire 100% stake in its wholly owned subsidiary, Bajaj Hindusthan (Singapore) Private Limited.
A successful bidder was selected through an auction process, with the aggregate consideration fixed at approximately US$6.26 million, equivalent to around ₹60.10 crore.
The proposed divestment is part of the company’s restructuring arrangement with lenders. The proceeds from the transaction are intended to be utilised towards repayment of outstanding Optionally Convertible Debentures (OCDs).
The consideration is yet to be realised, and completion of the transaction remains subject to the required agreements and approvals.
Auditor Highlights Unrecognised Interest Income
The company’s auditors highlighted that Bajaj Hindusthan Sugar has an aggregate exposure of ₹2,559.16 crore in its subsidiaries, comprising investments, inter-corporate loans and accrued interest.
As a matter of prudence, the company did not recognise interest income of ₹28.34 crore on certain inter-corporate loans during the quarter. The interest income is expected to be recognised upon actual realisation.
During the reporting period, the company also made payments of ₹77.69 crore towards its outstanding OCDs, using proceeds from the sale of treasury shares and collections from the sale of certain Ecotec Division assets.
Conclusion
Bajaj Hindusthan Sugar’s Q2 performance remained challenging, with consolidated revenue declining 16.3% year-on-year to ₹968.43 crore and net loss widening 15.2% to ₹121.28 crore.
While the narrowing of EBITDA loss indicates some improvement in operating performance, lower sugar and power segment revenues and continued losses across business segments affected the overall results.
Going forward, investors and market participants will monitor the company’s operating performance, recovery in the sugar business, progress on the Singapore subsidiary divestment and its efforts to manage outstanding financial obligations.
Source: Bajaj Hindusthan Sugar Limited’s unaudited standalone and consolidated financial results and regulatory disclosures filed with the stock exchanges on November 11, 2026.
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