Dalmia Bharat Sugar & Industries Ltd

₹ 386 0.40%

24 Apr - close price

dalmiasugar.com BSE: 500097 NSE : DALMIASUG

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.

Website BSE NSE

Market Cap ₹ 3,125 Cr.
Current Price ₹ 386
High / Low ₹ 490 / 338
Stock P/E 10.3
Book Value ₹ 363
Dividend Yield 1.04 %
ROCE 12.2 %
ROE 9.73 %
Face Value ₹ 2.00

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Pros

Company has reduced debt.
Stock is trading at 1.06 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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Detailed Comparison with:

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
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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:	36%
5 Years:	27%
3 Years:	19%
1 Year:	4%

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

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	74.91%	74.91%	74.91%	74.91%	74.91%	74.91%	74.91%	74.91%	74.91%	74.91%	74.92%	74.92%
	1.00%	0.96%	0.90%	1.15%	1.42%	1.17%	1.01%	1.03%	0.90%	0.97%	1.07%	1.03%
	0.07%	0.07%	0.06%	0.07%	0.07%	0.04%	0.07%	0.06%	0.06%	0.08%	0.08%	0.09%
	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%
	23.86%	23.90%	23.97%	23.71%	23.44%	23.73%	23.84%	23.82%	23.96%	23.88%	23.78%	23.81%
No. of Shareholders	25,726	35,756	37,632	41,039	44,063	46,465	46,128	43,368	41,491	41,485	45,070	47,026

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	74.91%	74.91%	74.91%	74.91%	74.91%	74.91%	74.91%	74.92%
	1.03%	0.88%	2.59%	0.39%	0.83%	1.15%	1.03%	1.03%
	2.12%	1.88%	1.89%	1.86%	0.07%	0.07%	0.06%	0.09%
	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%
	21.78%	22.17%	20.45%	22.68%	24.03%	23.71%	23.82%	23.81%
No. of Shareholders	18,228	21,583	19,418	19,814	18,605	41,039	43,368	47,026

* 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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Dalmia Bharat Sugar & Industries Ltd

Dalmia Bharat Sugar & Industries Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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