Dalmia Bharat Sugar & Industries Ltd

₹ 371 -2.86%

12 May 4:01 p.m.

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 ₹ 2,998 Cr.
Current Price ₹ 371
High / Low ₹ 465 / 261
Stock P/E 12.7
Book Value ₹ 401
Dividend Yield 1.62 %
ROCE 8.37 %
ROE 7.51 %
Face Value ₹ 2.00

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Pros

Stock is trading at 0.93 times its book value

Cons

The company has delivered a poor sales growth of 6.14% over past five years.
Company has a low return on equity of 9.39% over last 3 years.
Dividend payout has been low at 4.95% 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

Fast Moving Consumer Goods Fast Moving Consumer Goods Agricultural Food & other Products Sugar

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Sep 2025	Dec 2025	Mar 2026
	600	1,149	834	732	584	750	960	926	838	1,016	989	698	991
	488	941	715	666	474	631	849	861	736	818	932	588	821
Operating Profit	112	208	118	65	109	119	111	66	101	197	56	109	170
OPM %	19%	18%	14%	9%	19%	16%	12%	7%	12%	19%	6%	16%	17%
	23	12	9	56	27	37	16	16	19	16	20	29	34
Interest	9	9	10	16	8	16	26	12	9	16	10	12	25
Depreciation	32	34	31	31	32	33	26	32	35	38	34	33	37
Profit before tax	93	176	87	74	96	107	75	38	76	160	31	93	143
Tax %	31%	30%	30%	26%	32%	14%	27%	-75%	22%	-25%	25%	25%	27%
	65	124	61	55	65	91	55	66	59	199	23	70	104
EPS in Rs	8.02	15.35	7.58	6.79	8.02	11.29	6.77	8.18	7.33	24.57	2.88	8.61	12.91
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,150	1,166	1,686	2,244	2,018	2,110	2,685	3,018	3,252	2,899	3,725	3,618
	1,037	939	1,308	2,010	1,781	1,774	2,203	2,572	2,815	2,487	3,247	3,193
Operating Profit	113	227	378	234	237	337	482	446	437	412	477	426
OPM %	10%	19%	22%	10%	12%	16%	18%	15%	13%	14%	13%	12%
	16	22	24	25	75	56	44	64	77	128	61	94
Interest	78	87	102	69	69	88	62	35	38	50	63	63
Depreciation	51	113	56	54	52	57	96	95	121	127	131	136
Profit before tax	0	47	244	136	192	247	368	380	355	363	345	320
Tax %	-414%	-23%	24%	10%	9%	22%	27%	22%	30%	25%	-6%	26%
	1	58	186	122	175	193	270	296	250	272	365	236
EPS in Rs	0.18	7.22	23.02	15.12	21.65	23.88	33.42	36.56	30.91	33.68	45.18	29.26
Dividend Payout %	0%	8%	9%	13%	7%	8%	9%	11%	13%	15%	0%	0%

Compounded Sales Growth
10 Years:	12%
5 Years:	6%
3 Years:	4%
TTM:	-3%

Compounded Profit Growth
10 Years:	17%
5 Years:	-3%
3 Years:	-1%
TTM:	-35%

Stock Price CAGR
10 Years:	14%
5 Years:	3%
3 Years:	1%
1 Year:	-8%

Return on Equity
10 Years:	11%
5 Years:	10%
3 Years:	9%
Last Year:	8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	16	16	16	16	16	16	16	16	16	16	16	16
Reserves	444	496	1,245	1,488	1,516	1,503	2,126	2,343	2,689	2,916	3,047	3,226
	931	1,138	1,214	776	1,037	1,277	958	819	454	1,430	1,044	1,803
	443	411	459	633	621	642	632	645	644	800	541	475
Total Liabilities	1,834	2,061	2,935	2,913	3,189	3,438	3,733	3,822	3,803	5,162	4,648	5,521
	746	752	1,280	1,293	1,316	1,353	1,308	1,531	1,652	1,847	1,657	1,784
CWIP	28	7	2	7	11	6	27	59	21	133	186	47
Investments	84	94	366	626	417	359	620	594	736	629	583	1,339
	976	1,208	1,287	987	1,445	1,720	1,777	1,639	1,393	2,554	2,223	2,352
Total Assets	1,834	2,061	2,935	2,913	3,189	3,438	3,733	3,822	3,803	5,162	4,648	5,521

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-11	-24	155	706	-220	59	346	567	583	-239	410	219
	-43	-77	-144	-178	-29	-179	37	-327	-192	-257	-113	-851
	42	112	2	-528	219	145	-364	-217	-419	902	-480	664
Net Cash Flow	-13	11	13	1	-31	25	18	23	-29	405	-182	32
Free Cash Flow	-61	-110	83	635	-327	-31	274	234	365	-606	267	95
CFO/OP	-28%	-7%	53%	321%	-75%	31%	73%	140%	162%	-38%	86%	68%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	25	33	24	12	37	29	16	20	17	15	12	18
Inventory Days	310	476	367	161	284	345	274	213	163	329	221	233
Days Payable	133	125	62	92	109	102	54	45	33	71	26	21
Cash Conversion Cycle	202	384	329	81	212	272	237	188	147	273	207	230
Working Capital Days	4	50	17	-2	55	44	64	71	81	45	99	56
ROCE %	5%	8%	17%	9%	10%	12%	15%	13%	12%	10%	10%	8%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Total Distillery Capacity
KLPD

xx	xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx
xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	xx.xx	xx.xx	xx.xx	xx.xx
xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx
xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx

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Cane Crushed
Lakh MT

Distillery Sales Volume
Cr Litres

Gross Sugar Recovery Rate
%

Sugar Sales Volume
Lakh MT

Total Sugar Crushing Capacity
TCD

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

28 Recently

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	74.91%	74.91%	74.92%	74.92%	74.92%	74.92%	74.92%	74.92%	74.92%	74.92%	74.92%	74.92%
	0.90%	0.97%	1.07%	1.03%	0.96%	1.02%	0.89%	0.75%	1.08%	0.97%	0.70%	0.72%
	0.06%	0.08%	0.08%	0.09%	0.09%	0.05%	0.05%	0.05%	0.05%	0.05%	0.09%	0.12%
	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%
	23.96%	23.88%	23.78%	23.81%	23.87%	23.85%	23.99%	24.11%	23.77%	23.89%	24.12%	24.07%
No. of Shareholders	41,491	41,485	45,070	47,026	47,906	45,953	45,934	46,076	43,981	46,427	46,543	45,646

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	74.91%	74.91%	74.91%	74.91%	74.91%	74.91%	74.91%	74.92%	74.92%	74.92%
	1.03%	0.88%	2.59%	0.39%	0.83%	1.15%	1.03%	1.03%	0.75%	0.72%
	2.12%	1.88%	1.89%	1.86%	0.07%	0.07%	0.06%	0.09%	0.05%	0.12%
	0.16%	0.16%	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%	24.11%	24.07%
No. of Shareholders	18,228	21,583	19,418	19,814	18,605	41,039	43,368	47,026	46,076	45,646

* 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

Insights

Shareholding Pattern

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