Zuari Industries Limited has announced its unaudited financial results for the quarter ended 30 September 2025, reporting continued improvement across operational and financial metrics. On a standalone basis, the company posted revenue of Rs 2.48 billion for Q2 FY26 and Rs 4.73 billion for the half year. EBITDA stood at Rs 525 million for the quarter and Rs 894 million for H1. Profit before tax, before exceptional items, was Rs 186 million in Q2 and Rs 195 million in H1 FY26. On a consolidated basis, the company reported revenue of Rs 2.86 billion for Q2 and Rs 5.54 billion for H1 FY26. Consolidated profit after tax surged to Rs 1.64 billion, compared with a loss of Rs 148 million in the same quarter last year. For H1 FY26, PAT stood at Rs 1.64 billion, reversing the loss of Rs 484 million recorded in the prior-year period. The company delivered steady performance across all business segments. The Sugar, Power and Ethanol (SPE) division performed well despite seasonal effects, with crushing for the new season beginning in October 2025 — the earliest start in its history. Ethanol production and realisations improved due to strong blending demand, while disciplined treasury management reduced average borrowing costs by 13 basis points year-on-year. Zuari Infraworld India Ltd (ZIIL), the infrastructure arm, reported EBITDA of Rs 481 million, up 169 per cent year-on-year. The St. Regis Residences, Dubai reached 86 per cent completion, with handovers targeted for March 2026. Development-management mandates in Hyderabad and Kolkata under its asset-light model continue to progress. The financial services portfolio also delivered steady growth. Zuari Finserv Ltd recorded EBITDA of Rs 12 million, supported by product diversification and enhanced brand visibility. Zuari Insurance Brokers Ltd achieved EBITDA of Rs 29 million, up 93 per cent year-on-year on the back of higher policy renewals and new client additions. Simon India Ltd (SIL), the EPCM subsidiary, is executing orders worth Rs 1.44 billion and is working with research institutions in India and abroad. The company is also exploring collaborations with global technology partners while developing in-house AI tools to advance its digital-first EPC strategy. In the bioenergy business, the 180 KLPD bioethanol plant under Zuari Envien Bioenergy Pvt Ltd — a 50:50 joint venture with Envien International — is on schedule for commissioning in November 2025. Managing Director Athar Shahab said the second quarter typically serves as a transition period for the SPE division, but the early start of the crushing season and improved margins reflected strong operational performance. He added that real estate operations remain robust, Simon India is steadily building its order pipeline, and the financial services segment continues to strengthen. With the bioethanol project nearing commissioning, the company remains focused on scaling its core businesses, expanding new opportunities, and investing in sustainability and technology to drive long-term value.