Dalmia Bharat Sugar & Industries Ltd

Dalmia Bharat Sugar & Industries Ltd

₹ 394 -1.20%
27 Feb 2:36 p.m.
About

Dalmia Bharat Sugar & Industries is mainly engaged in manufacturing of sugar, generation of power, manufacturing of Industrial alcohol and manufacturing of refractory products.[1]The company is among the youngest and largest sugar companies in India. Its is the fastest-growing sugar company with its presence in UP and Maharashtra.

Key Points

Revenue Mix FY23
Sugar - 67%
Distillery - 23%
History**[1]
DBSIL, a part of the Dalmia Bharat Group is a leading Indian sugar producer. In 1994, Company entered the sugarindustry by establishing 2500 TCD capacity sugar mill in UP.

  • Market Cap 3,190 Cr.
  • Current Price 394
  • High / Low 490 / 310
  • Stock P/E 10.5
  • Book Value 363
  • Dividend Yield 0.99 %
  • ROCE 12.2 %
  • ROE 9.73 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Stock is trading at 1.11 times its book value
  • Company's working capital requirements have reduced from 128 days to 95.0 days

Cons

  • Company has a low return on equity of 12.1% over last 3 years.
  • Dividend payout has been low at 11.0% 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

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
606 489 819 726 616 846 924 579 600 1,149 834 732 584
550 361 677 640 527 705 815 572 488 941 715 666 474
Operating Profit 56 127 141 86 88 141 109 7 112 208 118 65 109
OPM % 9% 26% 17% 12% 14% 17% 12% 1% 19% 18% 14% 9% 19%
14 12 5 21 21 9 2 41 23 12 9 56 24
Interest 11 10 12 8 6 9 11 8 9 9 10 16 8
Depreciation 14 52 21 21 24 29 28 28 32 34 31 31 32
Profit before tax 44 77 113 79 79 112 72 13 93 176 87 74 93
Tax % 16% 34% -10% 25% 29% 51% 32% 8% 31% 30% 30% 26% 33%
37 51 124 59 56 55 49 12 65 124 61 55 62
EPS in Rs 4.59 6.30 15.35 7.32 6.90 6.83 6.09 1.45 8.02 15.35 7.58 6.79 7.68
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
711 997 1,190 1,150 1,166 1,686 2,244 2,018 2,110 2,685 3,007 3,252 3,298
650 847 1,083 1,037 939 1,307 2,010 1,781 1,772 2,213 2,539 2,815 2,798
Operating Profit 61 150 108 113 227 378 234 237 338 472 467 437 501
OPM % 9% 15% 9% 10% 19% 22% 10% 12% 16% 18% 16% 13% 15%
32 7 20 16 21 24 37 87 60 53 48 77 100
Interest 50 66 76 78 87 102 69 69 88 62 35 38 43
Depreciation 42 73 49 51 113 56 54 52 57 96 95 121 127
Profit before tax 1 19 3 0 47 244 148 204 252 368 386 355 430
Tax % -48% 3% -17% -429% -23% 23% 9% 8% 21% 27% 24% 30%
1 18 3 1 58 187 134 187 198 270 295 250 303
EPS in Rs 0.11 2.27 0.37 0.18 7.22 23.09 16.58 23.16 24.48 33.31 36.51 30.91 37.40
Dividend Payout % 0% 11% 0% 0% 8% 9% 0% 7% 8% 9% 11% 13%
Compounded Sales Growth
10 Years: 13%
5 Years: 8%
3 Years: 16%
TTM: 12%
Compounded Profit Growth
10 Years: 29%
5 Years: 13%
3 Years: 7%
TTM: 63%
Stock Price CAGR
10 Years: 41%
5 Years: 27%
3 Years: 35%
1 Year: 27%
Return on Equity
10 Years: 12%
5 Years: 12%
3 Years: 12%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 16 16 16 16 16 16 16 16 16 16 16 16 16
Reserves 424 441 445 442 495 1,234 1,433 1,534 1,592 2,074 2,343 2,689 2,920
710 786 812 931 1,138 1,214 776 1,037 1,277 958 819 454 419
324 426 444 443 411 459 632 620 642 629 645 644 543
Total Liabilities 1,475 1,669 1,716 1,833 2,059 2,923 2,857 3,207 3,528 3,677 3,822 3,803 3,899
574 635 767 746 752 1,280 1,293 1,316 1,353 1,308 1,531 1,652 1,627
CWIP 1 17 13 28 6 2 7 11 6 27 59 21 174
Investments 41 60 78 83 92 275 435 288 447 563 594 736 817
859 956 858 976 1,209 1,366 1,122 1,592 1,722 1,778 1,639 1,393 1,281
Total Assets 1,475 1,669 1,716 1,833 2,059 2,923 2,857 3,207 3,528 3,677 3,822 3,803 3,899

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
35 98 267 -11 -24 76 659 -220 209 346 567 583
-13 -160 -185 -43 -77 -65 -131 -30 -329 36 -327 -192
1 12 -61 42 112 2 -528 219 145 -364 -217 -419
Net Cash Flow 22 -50 21 -13 11 13 1 -31 25 18 23 -29

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 39 21 6 25 33 24 12 37 29 16 19 17
Inventory Days 419 383 252 310 476 367 161 284 345 274 213 163
Days Payable 140 133 113 133 125 62 92 109 102 54 43 33
Cash Conversion Cycle 319 271 144 202 384 329 81 212 272 237 188 147
Working Capital Days 209 159 85 116 172 191 76 175 178 164 125 95
ROCE % 4% 7% 6% 5% 8% 17% 9% 11% 12% 14% 14% 12%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
74.91% 74.91% 74.91% 74.91% 74.91% 74.91% 74.91% 74.91% 74.91% 74.91% 74.91% 74.92%
0.83% 1.00% 0.96% 0.90% 1.15% 1.42% 1.17% 1.01% 1.03% 0.90% 0.97% 1.07%
0.07% 0.07% 0.07% 0.06% 0.07% 0.07% 0.04% 0.07% 0.06% 0.06% 0.08% 0.08%
0.16% 0.16% 0.16% 0.16% 0.16% 0.16% 0.16% 0.16% 0.16% 0.16% 0.16% 0.16%
24.03% 23.86% 23.90% 23.97% 23.71% 23.44% 23.73% 23.84% 23.82% 23.96% 23.88% 23.78%
No. of Shareholders 18,60525,72635,75637,63241,03944,06346,46546,12843,36841,49141,48545,070

* 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.

Click on the line-items to see the names of individual entities.

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