Zuari Industries has posted steady third-quarter numbers, powered by record sugar crushing, lower borrowing costs and forward momentum across real estate, EPC and financial services.

 

For Q3 FY26, the company reported standalone total income of Rs. 254.7 crore, with EBITDA at Rs. 36.3 crore. Profit Before Tax (before exceptional items) rose to Rs. 4.5 crore, up from Rs. 2.6 crore a year ago. For the nine-month period, standalone total income reached Rs. 727.6 crore, while EBITDA climbed to Rs. 125.7 crore and PBT surged to Rs. 24.0 crore from Rs. 4.2 crore last year.

 

On a consolidated basis, total income stood at Rs. 301.5 crore for the quarter. Consolidated PAT came in at Rs. (26.4) crore versus Rs. (25.2) crore in the corresponding quarter last year. However, for 9M FY26, consolidated PAT rebounded sharply to Rs. 137.4 crore, compared to a loss of Rs. (73.6) crore in the same period last year. The company said it continued to benefit from a reduction in its average cost of borrowing.

 

The Sugar, Power & Ethanol (SPE) division delivered a standout quarter. Crushing operations began on 26 October 2025 — the earliest-ever start — and clocked the highest Q3 crush in the company’s history at 67.28 lakh quintals. Sugar and ethanol production rose 13.7% and 4.8% year-on-year, respectively, while average sugar realisation improved 5.9% YoY.

 

In bioenergy, the company commissioned a 180 KLPD ethanol distillery under Zuari Envien Bioenergy Pvt. Ltd., its 50:50 joint venture with Envien International — marking a key capacity expansion milestone.

 

Zuari Infraworld India Limited reported Q3 FY26 EBITDA of Rs. 32 crore. The ultra-luxury The St Regis Residences, Dubai project is now approximately 93.4% complete, with handovers expected by April 2026. The company is also scouting development management mandates in Bengaluru, Hyderabad and Kolkata as part of its asset-light strategy.

 

It's EPC arm Simon India Limited commissioned the fifth evaporator project for Paradeep Phosphates Limited and is executing orders worth approximately ₹100 crore. The company said it is deepening domain expertise through global technology partnerships while investing in in-house AI-driven solutions to accelerate digital transformation in the EPC sector.

 

Zuari Finserv Limited and Zuari Insurance Brokers Limited reported income growth of 20.0% and 7.6% year-on-year, respectively, reflecting continued traction in customer-centric initiatives and platform enhancements.

 

Commenting on the results, Athar Shahab, Managing Director, Zuari Industries Ltd, said: "The third quarter reflects steady operational progress across our Sugar, Power & Ethanol division, supported by strong on-ground execution during the crushing season. 

 

"We achieved our earliest-ever start of crushing and recorded the highest-ever Q3 crushing performance, reflecting improved preparedness and operational efficiency. Ethanol operations remained stable during the period, and we continued to strengthen financial discipline through lower borrowing rates and reduced finance costs over the year."