Bannari Amman Sugars Ltd

Bannari Amm.Sug. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Bannari Amman Sugars Ltd

₹ 3,750 0.42%
12 Dec 4:00 p.m.
bannari.com BSE: 500041 NSE: BANARISUG
About

Bannari Amman Sugars Limited is one of the leading sugar manufacturers in India. It has three sugar factories with cogeneration plants in Tamilnadu and two sugar factories with co-generation plants in Karnataka. It has two distillery units one in Tamilnadu and another in Karnataka. It has a Granite Processing unit in Tamilnadu. The company also has windmills which are located in the southern part of Tamilnadu. [1]

Key Points

FY22 Business Segments
Sugar (84% of revenue)- [1]
It has an installed capacity of 23700 Tons per day (TCD) for cane crushing across all 5 units. 3 facilities are located in Tamilnadu and 2 in Karnataka. It established its first sugar factory in the year 1986 with a crushing capacity of 1250 TCPD.[2][3] In the sugar business it sells sugar (77% revenue) and other by-products like Molasses, Bagasse, Bioproducts, fertilizer & pesticides. (together generates 7% of total revenue). [4]

Website BSE NSE
  • Market Cap ₹ 4,670 Cr.
  • Current Price ₹ 3,750
  • High / Low ₹ 4,215 / 2,189
  • Stock P/E 35.8
  • Book Value ₹ 1,380
  • Dividend Yield 0.33 %
  • ROCE 11.8 %
  • ROE 9.36 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Debtor days have improved from 35.2 to 22.0 days.

Cons

  • Stock is trading at 2.71 times its book value
  • Company has a low return on equity of 8.38% over last 3 years.

* 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

Part of BSE Fast Moving Consumer Goods BSE SmallCap BSE Allcap

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Quarterly Results

Figures in Rs. Crores

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
447 716 462 427 510 932 656 431 600 768 421 404 474
395 650 392 392 442 835 553 387 508 649 370 375 406
Operating Profit 52 65 70 35 68 98 103 44 92 119 51 29 67
OPM % 12% 9% 15% 8% 13% 10% 16% 10% 15% 16% 12% 7% 14%
1 1 2 34 2 2 2 1 2 2 2 1 2
Interest 7 8 9 13 13 13 10 10 7 7 8 6 2
Depreciation 15 15 22 18 19 19 18 14 14 14 15 14 14
Profit before tax 31 44 41 38 38 68 76 20 73 100 31 10 53
Tax % 32% 33% 41% 33% 29% 40% 35% 33% 33% 32% 30% 35% 35%
21 30 24 26 27 41 50 14 49 68 22 6 34
EPS in Rs 16.84 23.56 19.36 20.49 21.48 32.58 39.81 10.84 38.92 54.28 17.41 5.13 27.33
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Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
1,337 651 930 1,456 1,752 1,481 1,125 1,609 1,563 1,998 2,526 2,220 2,067
1,052 503 802 1,251 1,404 1,270 943 1,378 1,352 1,780 2,221 1,914 1,800
Operating Profit 285 148 128 204 348 211 182 231 211 218 304 306 267
OPM % 21% 23% 14% 14% 20% 14% 16% 14% 13% 11% 12% 14% 13%
-6 -2 16 3 6 5 8 4 9 3 39 7 7
Interest 45 62 93 116 97 34 30 44 39 32 49 32 23
Depreciation 60 52 51 62 69 70 67 65 66 68 74 58 57
Profit before tax 174 32 0 30 187 112 93 126 115 122 220 224 194
Tax % 18% 11% -209% -7% 22% 22% 18% 24% 20% 34% 35% 32%
142 29 1 32 145 87 76 96 92 80 143 152 131
EPS in Rs 124.56 25.08 0.90 27.73 115.77 69.59 60.56 76.27 73.48 63.78 114.35 121.45 104.15
Dividend Payout % 10% 50% 278% 27% 11% 14% 17% 13% 14% 16% 11% 10%
Compounded Sales Growth
10 Years: 13%
5 Years: 15%
3 Years: 12%
TTM: -21%
Compounded Profit Growth
10 Years: 17%
5 Years: 15%
3 Years: 19%
TTM: -15%
Stock Price CAGR
10 Years: 12%
5 Years: 26%
3 Years: 13%
1 Year: 51%
Return on Equity
10 Years: 7%
5 Years: 8%
3 Years: 8%
Last Year: 9%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 11 11 11 11 13 13 13 13 13 13 13 13 13
Reserves 931 943 940 920 1,055 1,123 1,183 1,262 1,344 1,411 1,539 1,676 1,718
458 1,052 1,221 1,534 1,038 508 769 996 872 961 581 486 162
315 274 232 355 297 143 237 164 163 184 226 260 316
Total Liabilities 1,715 2,281 2,405 2,821 2,402 1,786 2,202 2,434 2,390 2,569 2,359 2,435 2,209
669 632 917 1,138 1,103 1,082 1,026 1,004 954 1,049 1,078 1,071 1,060
CWIP 33 268 22 15 34 4 24 90 145 61 22 112 144
Investments 0 0 0 1 2 1 1 1 1 1 2 3 5
1,013 1,381 1,466 1,667 1,263 699 1,151 1,340 1,291 1,458 1,257 1,249 1,000
Total Assets 1,715 2,281 2,405 2,821 2,402 1,786 2,202 2,434 2,390 2,569 2,359 2,435 2,209

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
158 -255 20 178 645 588 -192 -57 236 33 502 274
-57 -253 -74 -275 -52 -16 -27 -106 -61 -75 -57 -130
-103 509 61 107 -604 -579 219 167 -179 42 -443 -144
Net Cash Flow -1 0 7 10 -11 -6 0 4 -5 -0 3 1

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 27 23 16 33 24 17 42 43 38 63 20 22
Inventory Days 348 1,542 757 485 296 188 529 330 339 255 205 247
Days Payable 60 97 39 50 27 28 95 21 20 22 17 19
Cash Conversion Cycle 315 1,468 734 468 293 176 476 352 356 296 209 249
Working Capital Days 178 602 465 278 164 114 274 255 260 234 146 170
ROCE % 17% 6% 4% 6% 12% 8% 7% 8% 7% 7% 12% 12%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
58.70% 58.70% 58.70% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69% 58.69%
0.21% 0.23% 0.26% 0.27% 0.26% 0.26% 0.26% 0.26% 0.26% 0.25% 0.25% 0.27%
0.09% 0.06% 0.00% 0.00% 0.00% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
41.00% 41.01% 41.04% 41.04% 41.05% 41.04% 41.04% 41.03% 41.04% 41.04% 41.05% 41.04%
No. of Shareholders 7,6478,6438,6188,2908,1777,8957,8618,4628,7668,6948,6628,718

* 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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