Bajaj Hindusthan Sugar Ltd

₹ 16.5 1.92%

27 Mar - close price

bajajhindusthan.com BSE: 500032 NSE: BAJAJHIND

About

Bajaj Hindusthan Sugar Limited (BHSL) was incorporated in 1931 under the name ''The Hindustan Sugar Mills Limited''. The Company is engaged in the manufacture of sugar, alcohol, ethanol, and the generation of power. ^[1]^[2]

Key Points

Company Overview ^[1]
BHSL has 14 sugar factories with an
aggregate sugarcane crushing capacity of 136,000 tonnes crushed per day (TCD). Besides Sugar, BHSL is also a leading manufacturer of ethanol. It has six distilleries with capacity to produce 800 kilo litre per day (KLPD) of industrial alcohol and owns 14 co-generation plants having power generating capacity of 449 MW.

Website BSE NSE

Market Cap ₹ 2,103 Cr.
Current Price ₹ 16.5
High / Low ₹ 29.6 / 14.8
Stock P/E
Book Value ₹ 31.0
Dividend Yield 0.00 %
ROCE 1.24 %
ROE 0.10 %
Face Value ₹ 1.00

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Pros

Stock is trading at 0.53 times its book value

Cons

The company has delivered a poor sales growth of -3.62% over past five years.
Promoter holding is low: 25.0%
Company has a low return on equity of -1.87% over last 3 years.
Contingent liabilities of Rs.1,433 Cr.
Promoters have pledged 100% of their holding.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Fast Moving Consumer Goods Fast Moving Consumer Goods Agricultural Food & other Products Sugar

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	1,423	2,036	1,354	1,130	1,730	1,863	1,380	1,153	1,466	1,546	1,242	1,153	1,368
	1,336	1,821	1,325	1,180	1,622	1,689	1,349	1,151	1,492	1,257	1,266	1,205	1,297
Operating Profit	87	215	29	-50	108	173	31	2	-26	289	-24	-52	71
OPM %	6%	11%	2%	-4%	6%	9%	2%	0%	-2%	19%	-2%	-4%	5%
	3	5	3	4	3	3	4	3	2	6	3	5	3
Interest	95	50	43	40	38	34	28	24	22	22	3	0	5
Depreciation	54	53	53	54	54	53	53	53	53	52	52	53	53
Profit before tax	-59	116	-65	-140	19	90	-45	-73	-99	221	-77	-100	15
Tax %	0%	-3%	0%	0%	0%	-5%	0%	0%	0%	0%	119%	0%	0%
	-59	120	-65	-140	19	94	-45	-73	-99	221	-169	-100	15
EPS in Rs	-0.46	0.94	-0.51	-1.09	0.15	0.73	-0.35	-0.57	-0.78	1.73	-1.32	-0.78	0.12
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014 18m	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	6,644	4,531	4,683	4,385	5,842	6,804	6,666	6,672	5,569	6,302	6,077	5,544	5,309
	6,719	4,689	3,890	3,529	5,560	6,501	6,207	6,493	5,344	6,047	5,817	5,248	5,025
Operating Profit	-75	-158	793	856	283	303	459	179	225	255	260	296	284
OPM %	-1%	-3%	17%	20%	5%	4%	7%	3%	4%	4%	4%	5%	5%
	226	190	156	162	167	164	-50	17	21	17	13	15	17
Interest	1,128	889	848	802	680	322	301	263	254	210	156	96	31
Depreciation	532	240	224	214	197	211	216	215	215	213	213	211	210
Profit before tax	-1,508	-1,097	-123	2	-427	-66	-108	-283	-222	-151	-96	4	60
Tax %	2%	0%	-3%	-368%	-1%	-3%	-2%	-1%	-2%	-2%	-5%	0%
	-1,533	-1,097	-120	7	-423	-64	-105	-280	-218	-148	-92	4	-32
EPS in Rs	-23.98	-13.54	-1.07	0.07	-3.73	-0.57	-0.93	-2.47	-1.71	-1.16	-0.72	0.03	-0.25
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	2%
5 Years:	-4%
3 Years:	0%
TTM:	-9%

Compounded Profit Growth
10 Years:	7%
5 Years:	16%
3 Years:	26%
TTM:	74%

Stock Price CAGR
10 Years:	-2%
5 Years:	22%
3 Years:	9%
1 Year:	-15%

Return on Equity
10 Years:	-4%
5 Years:	-4%
3 Years:	-2%
Last Year:	0%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	64	81	108	110	110	110	110	110	124	124	124	124	128
Reserves	2,495	1,726	3,849	3,833	3,388	3,295	3,144	2,831	2,753	4,374	4,369	4,236	3,837
	6,275	7,284	6,911	7,007	6,791	6,022	5,487	5,389	4,792	4,246	3,769	3,495	3,227
	3,694	2,986	3,086	3,852	4,304	4,979	5,348	5,349	5,941	6,734	7,148	7,247	5,158
Total Liabilities	12,528	12,077	13,955	14,803	14,593	14,406	14,089	13,679	13,610	15,478	15,410	15,102	12,350
	4,987	4,890	7,937	7,728	7,536	7,390	7,188	6,992	6,803	6,600	6,391	6,189	6,087
CWIP	8	8	19	36	66	17	43	25	4	1	4	9	11
Investments	2,431	2,282	1,132	1,108	1,056	1,021	962	910	862	3,613	3,685	3,628	2,718
	5,102	4,897	4,866	5,930	5,935	5,978	5,897	5,751	5,940	5,264	5,330	5,277	3,533
Total Assets	12,528	12,077	13,955	14,803	14,593	14,406	14,089	13,679	13,610	15,478	15,410	15,102	12,350

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	1,070	-348	377	713	951	1,133	894	351	635	814	662	303
	-483	-193	-8	-18	-29	-18	-26	10	8	-5	-3	-3
	-639	475	-388	-707	-920	-1,098	-816	-398	-658	-835	-632	-284
Net Cash Flow	-52	-66	-19	-11	1	17	53	-38	-16	-26	27	17
Free Cash Flow	1,050	-354	365	689	918	1,110	867	349	628	808	651	288
CFO/OP	-1,432%	230%	47%	83%	326%	373%	195%	197%	284%	321%	255%	102%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	12	14	23	14	12	11	9	12	14	8	9	7
Inventory Days	170	192	206	366	212	175	182	169	228	184	204	223
Days Payable	179	246	235	338	251	264	299	296	339	318	267	293
Cash Conversion Cycle	3	-40	-6	41	-27	-77	-107	-116	-98	-126	-54	-63
Working Capital Days	-128	131	129	94	85	53	43	17	-8	-60	-73	-69
ROCE %	-4%	-3%	7%	7%	2%	3%	3%	-0%	0%	1%	1%	1%

Insights

In beta

Mar 2014

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Alcohol / Ethanol Production
KL

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x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx	x,xxx,xxx
x.xx	x.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
		xxx			xxx	xxx					xxx
		xxx,xxx			xxx,xxx	xxx,xxx					xxx,xxx

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Power Generated
Million Units

Sugar Produced
MT

Sugar Recovery
%

Sugarcane Crushed
MMT

Distillery Capacity
KLPD

Sugarcane Crushing Capacity
TCD

Shareholding Pattern

Numbers in percentages

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	24.96%	24.96%	24.96%	24.96%	24.96%	24.96%	24.96%	24.96%	24.96%	24.96%	24.96%	24.96%
	1.69%	1.60%	1.64%	1.80%	2.57%	2.63%	4.32%	3.41%	2.61%	2.16%	1.89%	1.86%
	15.27%	15.26%	12.41%	9.45%	8.60%	8.43%	8.14%	8.08%	8.10%	8.12%	7.84%	7.83%
	57.94%	58.05%	60.87%	63.67%	63.73%	63.84%	62.46%	63.42%	64.20%	64.64%	65.18%	65.23%
	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%
No. of Shareholders	4,60,799	4,51,099	5,12,155	5,56,650	6,35,448	6,73,585	7,45,336	7,88,743	8,01,056	7,89,152	7,81,568	7,70,569

	Feb 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Dec 2025
	26.41%	26.02%	15.43%	15.43%	15.43%	15.43%	24.95%	24.96%	24.96%	24.96%	24.96%
	0.00%	3.86%	4.31%	3.82%	2.25%	0.14%	1.20%	1.69%	2.57%	2.61%	1.86%
	51.23%	39.65%	45.26%	44.10%	43.93%	39.90%	21.54%	15.27%	8.60%	8.10%	7.83%
	22.21%	30.32%	34.83%	36.49%	38.23%	44.36%	52.17%	57.94%	63.73%	64.20%	65.23%
	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.14%	0.14%	0.14%	0.14%	0.14%
No. of Shareholders	1,41,358	1,45,250	1,45,954	1,51,742	1,71,542	2,03,754	4,07,209	4,60,799	6,35,448	8,01,056	7,70,569

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Bajaj Hindusthan Sugar Ltd

Bajaj Hindusthan Sugar Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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