Bajaj Hindusthan Sugar Ltd

Bajaj Hindusthan Sugar Ltd

₹ 34.1 3.11%
24 Apr 3:04 p.m.
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.

  • Market Cap 4,360 Cr.
  • Current Price 34.1
  • High / Low 40.5 / 13.2
  • Stock P/E
  • Book Value 33.8
  • Dividend Yield 0.00 %
  • ROCE 0.71 %
  • ROE -4.01 %
  • Face Value 1.00

Pros

  • Stock is trading at 0.96 times its book value

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 1.53% over past five years.
  • Promoter holding is low: 25.0%
  • Company has a low return on equity of -6.66% over last 3 years.
  • Contingent liabilities of Rs.1,309 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

Sector: Sugar Industry: Sugar

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
1,763 2,000 1,354 1,346 1,253 1,616 1,524 1,320 1,423 2,036 1,354 1,130 1,730
1,836 1,773 1,276 1,344 1,306 1,419 1,491 1,400 1,336 1,821 1,325 1,180 1,622
Operating Profit -72 227 78 2 -53 197 33 -80 87 215 29 -50 108
OPM % -4% 11% 6% 0% -4% 12% 2% -6% 6% 11% 2% -4% 6%
4 3 5 3 4 10 4 5 3 5 3 4 3
Interest 67 60 70 63 62 59 33 32 95 50 43 40 38
Depreciation 54 53 53 54 54 53 53 54 54 53 53 54 54
Profit before tax -189 117 -41 -112 -165 95 -49 -160 -59 116 -65 -140 19
Tax % 0% -3% 0% 0% 0% -4% 0% 0% 0% -3% 0% 0% 0%
-189 120 -41 -112 -165 99 -49 -160 -59 120 -65 -140 19
EPS in Rs -1.67 1.06 -0.36 -0.88 -1.29 0.78 -0.38 -1.25 -0.46 0.94 -0.51 -1.09 0.15
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Sep 2011 Sep 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
4,904 4,263 6,644 4,531 4,683 4,385 5,842 6,804 6,666 6,672 5,569 6,302 6,250
4,051 3,803 6,719 4,689 3,890 3,529 5,560 6,501 6,207 6,493 5,344 6,047 5,949
Operating Profit 853 460 -75 -158 793 856 283 303 459 179 225 255 301
OPM % 17% 11% -1% -3% 17% 20% 5% 4% 7% 3% 4% 4% 5%
138 229 226 190 156 162 167 164 -50 17 21 17 14
Interest 641 661 1,128 889 848 802 680 322 301 263 254 210 172
Depreciation 331 349 532 240 224 214 197 211 216 215 215 213 213
Profit before tax 19 -321 -1,508 -1,097 -123 2 -427 -66 -108 -283 -222 -151 -69
Tax % 36% 27% -2% 0% 3% -368% 1% 3% 2% 1% 2% 2%
12 -235 -1,533 -1,097 -120 7 -423 -64 -105 -280 -218 -148 -65
EPS in Rs 0.19 -3.67 -23.98 -13.54 -1.07 0.07 -3.73 -0.57 -0.93 -2.47 -1.71 -1.16 -0.51
Dividend Payout % 76% -3% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 4%
5 Years: 2%
3 Years: -2%
TTM: 6%
Compounded Profit Growth
10 Years: 3%
5 Years: 11%
3 Years: %
TTM: 61%
Stock Price CAGR
10 Years: 6%
5 Years: 31%
3 Years: 74%
1 Year: 128%
Return on Equity
10 Years: -12%
5 Years: -5%
3 Years: -7%
Last Year: -4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Sep 2011 Sep 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 23 64 64 81 108 110 110 110 110 110 124 124 124
Reserves 3,117 4,030 2,495 1,726 3,849 3,833 3,388 3,295 3,144 2,831 2,753 4,374 4,189
5,197 5,708 6,275 7,284 6,911 7,007 6,791 6,022 5,487 5,389 4,792 4,246 4,025
1,456 395 3,694 2,986 3,086 3,852 4,304 4,979 5,348 5,349 5,941 6,734 5,218
Total Liabilities 9,793 10,197 12,528 12,077 13,955 14,803 14,593 14,406 14,089 13,679 13,610 15,478 13,556
5,390 5,420 4,987 4,890 7,937 7,728 7,536 7,390 7,188 6,992 6,803 6,600 6,494
CWIP 24 7 8 8 19 36 66 17 43 25 4 1 3
Investments 1,344 1,600 2,431 2,282 1,132 1,108 1,056 1,021 962 910 862 3,613 3,633
3,035 3,170 5,102 4,897 4,866 5,930 5,935 5,978 5,897 5,751 5,940 5,264 3,427
Total Assets 9,793 10,197 12,528 12,077 13,955 14,803 14,593 14,406 14,089 13,679 13,610 15,478 13,556

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Sep 2011 Sep 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
1,833 -468 1,070 -348 377 713 951 1,133 894 351 635 814
-434 -1,104 -483 -193 -8 -18 -29 -18 -26 10 8 -5
-1,297 1,168 -639 475 -388 -707 -920 -1,098 -816 -398 -658 -835
Net Cash Flow 103 -404 -52 -66 -19 -11 1 17 53 -38 -16 -26

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Sep 2011 Sep 2012 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 18 16 12 14 23 14 12 11 9 12 14 8
Inventory Days 47 62 170 192 206 366 212 175 182 169 228 184
Days Payable 29 26 179 246 235 338 251 264 299 296 339 318
Cash Conversion Cycle 37 52 3 -40 -6 41 -27 -77 -107 -116 -98 -126
Working Capital Days 77 138 41 143 129 114 95 53 43 49 27 -35
ROCE % 8% 4% -4% -3% 7% 7% 2% 3% 3% -0% 0% 1%

Shareholding Pattern

Numbers in percentages

6 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
15.43% 24.95% 24.95% 24.95% 24.95% 24.96% 24.96% 24.96% 24.96% 24.96% 24.96% 24.96%
0.44% 0.75% 0.94% 1.20% 1.38% 1.59% 1.60% 1.69% 1.60% 1.64% 1.80% 2.57%
37.21% 26.60% 26.49% 21.54% 19.05% 15.64% 15.27% 15.27% 15.26% 12.41% 9.45% 8.60%
46.76% 47.55% 47.48% 52.17% 54.48% 57.67% 58.03% 57.94% 58.05% 60.87% 63.67% 63.73%
0.16% 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 2,56,1513,08,4103,30,0904,07,2094,22,1144,48,5074,64,0644,60,7994,51,0995,12,1555,56,6506,35,448

* 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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