Bannari Amman Sugars Ltd

₹ 3,125 -0.64%

13 Nov 9:44 a.m.

About

Bannari Amman Sugars is an integrated South Indian sugar and bio-energy producer operating five sugar mills in Tamil Nadu and Karnataka, with bagasse cogeneration, two molasses-based distilleries, seven windmills, agri-natural fertiliser/biocompost and a scaled-down granite operation. Capacity comprises 23,700 TCD sugarcane crushing, 217.5 KLPD distillery, 129.8 MW cogeneration and 8.75 MW wind power. ^[1]^[2]

Key Points

Integrated Business:^[1]
The company converts sugarcane into sugar, molasses and industrial alcohol, bagasse-based power and bio-products. It also operates windmills, manufactures agri-natural fertiliser /bio compost and has a small granite-processing business.^[2]

Website BSE NSE

Market Cap ₹ 3,919 Cr.
Current Price ₹ 3,125
High / Low ₹ 4,345 / 2,915
Stock P/E 35.6
Book Value ₹ 1,542
Dividend Yield 0.41 %
ROCE 8.75 %
ROE 7.57 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.

Cons

The company has delivered a poor sales growth of 4.17% over past five years.
Company has a low return on equity of 7.62% over last 3 years.
Earnings include an other income of Rs.50.8 Cr.
Dividend payout has been low at 12.0% of profits 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

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	600	768	421	404	474	421	494	419	572	644	282	172	340
YoY Sales growth	+18%	-18%	-36%	-6%	-21%	-45%	+17%	+4%	+21%	+53%	-43%	-59%	-40%
	508	649	370	375	406	360	441	382	497	561	279	178	295
Operating Profit	92	119	51	29	67	61	53	37	75	83	4	-5	45
OPM %	15%	16%	12%	7%	14%	15%	11%	9%	13%	13%	1.3%	-3.0%	13%
	2	2	2	1	2	1	21	4	7	5	27	6	12
Interest	7	7	8	6	2	4	3	1	0	0	0	0	0
Depreciation	14	14	15	14	14	14	16	15	15	15	15	15	16
Profit before tax	73	100	31	10	53	45	55	24	66	73	15	-14	42
Tax %	33%	32%	30%	35%	35%	35%	36%	37%	35%	33%	-179%	-25%	26%
	49	68	22	6	34	29	35	15	43	48	42	-11	31
EPS in Rs	38.92	54.28	17.41	5.13	27.33	22.98	28.04	12.16	34.05	38.59	33.16	-8.71	24.68
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Profit & Loss

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	930	1,456	1,752	1,481	1,125	1,609	1,563	1,998	2,526	2,220	1,793	1,917	1,439
Sales growth	+43%	+57%	+20%	-15%	-24%	+43%	-3%	+28%	+26%	-12%	-19%	+7%	-24%
	802	1,251	1,404	1,270	943	1,378	1,352	1,780	2,221	1,914	1,583	1,719	1,312
Operating Profit	128	204	348	211	182	231	211	218	304	306	210	198	127
OPM %	14%	14%	20%	14%	16%	14%	13%	11%	12%	14%	12%	10%	9%
	16	3	6	5	8	4	9	3	39	7	26	43	51
Interest	93	116	97	34	30	44	39	32	49	32	16	2	1
Depreciation	51	62	69	70	67	65	66	68	74	58	59	61	61
Profit before tax	0	30	187	112	93	126	115	122	220	224	162	177	115
Tax %	-209%	-7%	22%	22%	18%	24%	20%	34%	35%	32%	35%	17%
	1	32	145	87	76	96	92	80	143	152	105	148	110
EPS in Rs	0.90	27.73	115.77	69.59	60.56	76.27	73.48	63.78	114.35	121.45	83.47	117.96	87.72
Dividend Payout %	278%	27%	11%	14%	17%	13%	14%	16%	11%	10%	15%	11%

Compounded Sales Growth
10 Years:	3%
5 Years:	4%
3 Years:	-9%
TTM:	-24%

Compounded Profit Growth
10 Years:	16%
5 Years:	9%
3 Years:	-1%
TTM:	-10%

Stock Price CAGR
10 Years:	5%
5 Years:	6%
3 Years:	7%
1 Year:	-13%

Return on Equity
10 Years:	8%
5 Years:	8%
3 Years:	8%
Last Year:	8%

Balance Sheet

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital	11	11	13	13	13	13	13	13	13	13	13	13	13
Reserves	940	920	1,055	1,123	1,183	1,262	1,344	1,411	1,539	1,676	1,766	1,901	1,921
	1,221	1,534	1,038	508	769	996	872	961	581	486	150	9	18
	232	355	297	143	237	164	163	184	226	260	297	235	310
Total Liabilities	2,405	2,821	2,402	1,786	2,202	2,434	2,390	2,569	2,359	2,435	2,226	2,157	2,261
	917	1,138	1,103	1,082	1,026	1,004	954	1,049	1,078	1,071	1,189	1,145	1,281
CWIP	22	15	34	4	24	90	145	61	22	112	11	106	30
Investments	0	1	2	1	1	1	1	1	2	3	4	263	78
	1,466	1,667	1,263	699	1,151	1,340	1,291	1,458	1,257	1,249	1,022	643	872
Total Assets	2,405	2,821	2,402	1,786	2,202	2,434	2,390	2,569	2,359	2,435	2,226	2,157	2,261

Cash Flows

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	20	178	645	588	-192	-57	236	33	502	274	430	514
	-74	-275	-52	-16	-27	-106	-61	-75	-57	-130	-65	-342
	61	107	-604	-579	219	167	-179	42	-443	-144	-369	-161
Net Cash Flow	7	10	-11	-6	0	4	-5	-0	3	1	-5	12
Free Cash Flow	-68	-98	591	570	-222	-164	173	-45	438	135	355	405
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	16%	85%	198%	289%	-96%	-16%	120%	26%	180%	104%	218%	279%

Ratios

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	16	33	24	17	42	43	38	63	20	22	14	6
Inventory Days	757	485	296	188	529	330	339	255	205	247	277	142
Days Payable	39	50	27	28	95	21	20	22	17	19	27	9
Cash Conversion Cycle	734	468	293	176	476	352	356	296	209	249	263	138
Working Capital Days	109	98	68	71	115	91	96	81	85	101	142	94
ROCE %	4%	6%	12%	8%	7%	8%	7%	7%	12%	12%	9%	9%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

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Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

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Alcohol Produced
Million B. Ltrs

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xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx

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Cogeneration Installed Capacity
MW

Distillery Installed Capacity
KLPD

Power Generation (Cogeneration + Wind)
Million Units

Sugar Bagged
Lakh Quintals

Sugar Installed Capacity
TCD

Sugar Recovery Rate
%

Sugarcane Crushed
Lakh Tonnes

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	58.69%	58.69%	58.69%	58.69%	58.69%	58.69%	58.69%	58.69%	58.69%	58.69%	58.69%	58.69%
	0.26%	0.25%	0.25%	0.27%	0.27%	0.27%	0.28%	0.27%	0.27%	0.27%	0.27%	0.27%
	41.04%	41.04%	41.05%	41.04%	41.03%	41.04%	41.01%	41.02%	41.03%	41.04%	41.04%	41.03%
No. of Shareholders	8,766	8,694	8,662	8,718	8,297	7,816	7,763	7,535	6,670	6,358	6,366	6,439

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	58.70%	58.70%	58.70%	58.70%	58.70%	58.70%	58.69%	58.69%	58.69%	58.69%	58.69%
	0.16%	0.17%	0.17%	0.17%	0.15%	0.23%	0.26%	0.25%	0.27%	0.27%	0.27%
	0.02%	0.03%	0.10%	0.09%	0.09%	0.06%	0.01%	0.00%	0.00%	0.00%	0.00%
	41.12%	41.11%	41.03%	41.04%	41.06%	41.01%	41.04%	41.04%	41.04%	41.04%	41.03%
No. of Shareholders	7,100	6,395	6,332	6,300	6,024	8,643	7,895	8,694	7,816	6,358	6,439

* 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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Bannari Amman Sugars Ltd

Bannari Amman Sugars Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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