Dalmia Bharat Sugar & Industries Ltd

Dalmia Bharat Sugar & Industries Ltd

₹ 375 3.39%
22 Apr 11:57 a.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 3,039 Cr.
  • Current Price 375
  • High / Low 490 / 338
  • Stock P/E 12.2
  • Book Value 292
  • Dividend Yield 1.04 %
  • ROCE 12.3 %
  • ROE 10.5 %
  • Face Value 2.00

Pros

Cons

  • Company has a low return on equity of 12.6% 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

Consolidated Figures in Rs. Crores / View Standalone

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Dec 2022 Sep 2023 Dec 2023
504 551 882 720 606 489 819 728 616 856 600 732 584
450 454 685 628 550 361 677 641 528 726 488 666 474
Operating Profit 55 97 197 92 56 127 141 87 88 130 112 65 109
OPM % 11% 18% 22% 13% 9% 26% 17% 12% 14% 15% 19% 9% 19%
16 16 16 11 14 12 5 20 22 16 23 56 27
Interest 17 26 26 15 11 10 12 8 6 9 9 16 8
Depreciation 15 15 15 15 14 52 21 21 24 29 32 31 32
Profit before tax 39 72 173 73 44 77 113 79 80 109 93 74 96
Tax % 31% 14% 27% 24% 16% 33% -10% 25% 29% 49% 31% 26% 32%
27 62 126 56 37 52 124 59 57 56 65 55 65
EPS in Rs 3.30 7.66 15.56 6.87 4.59 6.41 15.37 7.32 6.99 6.87 8.02 6.79 8.02
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
711 997 1,190 1,150 1,166 1,686 2,244 2,018 2,110 2,685 3,018 3,252
648 847 1,083 1,037 939 1,308 2,010 1,781 1,774 2,203 2,572 2,816
Operating Profit 63 150 108 113 227 378 234 237 337 482 446 437
OPM % 9% 15% 9% 10% 19% 22% 10% 12% 16% 18% 15% 13%
29 7 20 16 22 24 25 75 56 44 64 77
Interest 50 66 76 78 87 102 69 69 88 62 35 38
Depreciation 42 73 49 51 113 56 54 52 57 96 95 121
Profit before tax 1 19 3 0 47 244 136 192 247 368 380 355
Tax % -44% 3% -17% -414% -23% 24% 10% 9% 22% 27% 22% 30%
1 18 3 1 58 186 122 175 193 270 296 250
EPS in Rs 0.11 2.27 0.38 0.18 7.22 23.02 15.12 21.65 23.88 33.42 36.56 30.91
Dividend Payout % 0% 11% 0% 0% 8% 9% 13% 7% 8% 9% 11% 13%
Compounded Sales Growth
10 Years: 13%
5 Years: 8%
3 Years: 16%
TTM: 8%
Compounded Profit Growth
10 Years: 29%
5 Years: 15%
3 Years: 9%
TTM: -15%
Stock Price CAGR
10 Years: 35%
5 Years: 27%
3 Years: 16%
1 Year: -3%
Return on Equity
10 Years: 12%
5 Years: 12%
3 Years: 13%
Last Year: 11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Equity Capital 16 16 16 16 16 16 16 16 16 16 16
Reserves 425 443 446 444 496 1,245 1,488 1,516 1,503 2,126 2,343
710 786 812 931 1,138 1,214 776 1,037 1,277 958 819
327 426 444 443 411 459 633 621 642 632 645
Total Liabilities 1,479 1,670 1,718 1,834 2,061 2,935 2,913 3,189 3,438 3,733 3,822
574 636 767 746 752 1,280 1,293 1,316 1,353 1,308 1,531
CWIP 5 17 14 28 7 2 7 11 6 27 59
Investments 42 62 79 84 94 366 626 417 359 620 594
857 956 858 976 1,208 1,287 987 1,445 1,720 1,777 1,639
Total Assets 1,479 1,670 1,718 1,834 2,061 2,935 2,913 3,189 3,438 3,733 3,822

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
36 95 266 -11 -24 155 706 -220 59 346 567
-15 -157 -184 -43 -77 -144 -178 -29 -179 37 -327
1 12 -61 42 112 2 -528 219 145 -364 -217
Net Cash Flow 22 -50 21 -13 11 13 1 -31 25 18 23

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 20
Inventory Days 419 383 252 310 476 367 161 284 345 274 213
Days Payable 141 133 113 133 125 62 92 109 102 54 45
Cash Conversion Cycle 317 271 144 202 384 329 81 212 272 237 188
Working Capital Days 208 159 85 116 172 174 54 148 177 163 129
ROCE % 4% 7% 6% 5% 8% 17% 9% 10% 12% 15% 13%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 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 25,72635,75637,63241,03944,06346,46546,12843,36841,49141,48545,07047,026

* 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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