Dhampur Sugar Mills Ltd

About

Dhampur Sugar Mills (Dhampur) is one of the leading integrated sugarcane processing companies in India. Our continuous and often pioneering efforts to harness the full potential of sugarcane has enabled us to expand our portfolio beyond sugar to include renewable power, fuel ethanol, alcohol, extra neutral alcohol, alcohol based chemicals and bio fertilizers. [1]

Key Points

71% revenue from Sugar
Presently, Company's sugar business accounts for about 71% of its revenues, followed by ethanol/chemicals business (15%) & Power business (9%). [1]

See full details
  • Market Cap 2,162 Cr.
  • Current Price 326
  • High / Low 395 / 135
  • Stock P/E 9.81
  • Book Value 235
  • Dividend Yield 1.84 %
  • ROCE 13.9 %
  • ROE 15.9 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 18.01%
  • Debtor days have improved from 34.14 to 27.09 days.

Cons

  • Company might be capitalizing the interest cost

Peer comparison

Sector: Sugar Industry: Sugar

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
494 730 816 880 655 772 1,047 1,067 917 1,077 1,081 811
419 605 630 761 620 679 927 953 844 963 922 707
Operating Profit 75 126 187 120 34 92 120 114 73 114 160 104
OPM % 15% 17% 23% 14% 5% 12% 11% 11% 8% 11% 15% 13%
Other Income 3 1 -5 12 12 -12 -1 4 2 1 -6 3
Interest 18 15 28 34 21 20 25 26 21 13 20 26
Depreciation 11 16 27 18 18 19 21 20 16 22 20 20
Profit before tax 48 96 127 81 8 42 73 72 38 80 114 62
Tax % 35% 9% 18% 22% 26% 5% -42% 24% 24% 27% 33% 26%
Net Profit 31 87 103 63 6 39 103 55 29 58 77 45
EPS in Rs 4.67 13.16 15.57 9.49 0.87 5.92 15.56 8.24 4.35 8.79 11.58 6.84

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Sep 2009 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
936 2,329 1,536 1,481 1,822 1,776 2,183 2,534 3,279 2,754 3,353 4,142 3,886
744 2,121 1,334 1,260 1,690 1,639 1,961 2,013 2,915 2,272 2,987 3,674 3,435
Operating Profit 192 208 202 221 132 137 222 521 364 482 365 468 451
OPM % 20% 9% 13% 15% 7% 8% 10% 21% 11% 18% 11% 11% 12%
Other Income 15 26 4 11 21 28 36 25 25 -1 13 -7 -0
Interest 83 127 95 116 159 162 166 167 121 90 100 80 80
Depreciation 62 96 68 77 76 55 55 54 57 70 75 77 77
Profit before tax 62 10 44 39 -81 -52 37 325 211 321 203 305 294
Tax % 10% 17% 35% 42% 7% 80% 15% 28% 25% 21% -4% 28%
Net Profit 56 9 29 23 -75 -10 32 235 157 255 211 219 210
EPS in Rs 10.66 1.61 5.29 4.22 -13.17 -1.76 5.31 35.38 23.67 38.40 31.84 32.97 31.56
Dividend Payout % 14% 62% 24% 30% 0% 0% 0% 17% 13% 17% 19% 18%
Compounded Sales Growth
10 Years:6%
5 Years:14%
3 Years:8%
TTM:10%
Compounded Profit Growth
10 Years:39%
5 Years:58%
3 Years:14%
TTM:1%
Stock Price CAGR
10 Years:23%
5 Years:21%
3 Years:29%
1 Year:131%
Return on Equity
10 Years:14%
5 Years:20%
3 Years:19%
Last Year:16%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Sep 2009 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
62 63 63 83 80 76 75 66 66 66 66 66
Reserves 437 446 423 404 364 352 647 845 950 1,177 1,309 1,496
Borrowings 732 895 992 1,439 1,335 1,608 1,656 1,915 1,447 1,818 1,752 1,158
464 529 575 760 974 1,013 829 500 660 767 716 750
Total Liabilities 1,686 1,924 2,044 2,657 2,730 3,032 3,192 3,325 3,123 3,827 3,843 3,471
959 976 985 1,073 1,086 1,252 1,494 1,492 1,592 1,593 1,635 1,612
CWIP 44 18 35 19 207 18 28 27 24 34 7 21
Investments 28 45 9 12 12 12 12 3 7 33 27 13
656 885 1,015 1,553 1,426 1,751 1,658 1,803 1,499 2,168 2,173 1,824
Total Assets 1,686 1,924 2,044 2,657 2,730 3,032 3,192 3,325 3,123 3,827 3,843 3,471

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Sep 2009 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
342 64 52 -149 486 -78 164 -50 805 -177 356 878
-48 -113 -50 -64 -246 -46 -43 -56 -166 -88 -71 -83
-277 35 -11 221 -239 124 -117 106 -648 265 -285 -738
Net Cash Flow 17 -14 -10 8 1 -0 4 -0 -9 0 0 56

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Sep 2009 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 35 13 51 36 22 46 43 32 27 42 34 27
Inventory Days 253 134 227 469 311 327 281 322 162 320 226 147
Days Payable 254 90 138 221 178 176 99 55 71 108 80 67
Cash Conversion Cycle 34 58 140 283 155 196 225 299 118 253 180 106
Working Capital Days 58 53 106 200 95 146 133 191 94 192 159 93
ROCE % 11% 10% 10% 9% 4% 6% 9% 19% 13% 16% 10% 14%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
49.08 49.08 49.08 49.08 49.08 49.08 49.08 49.08 49.08 49.08 49.08 49.08
1.14 2.17 3.89 4.72 3.97 2.80 2.38 1.77 1.73 2.71 2.85 5.81
0.23 0.28 1.33 0.86 2.16 2.75 2.85 0.88 0.35 0.79 0.68 0.79
0.20 0.25 0.25 0.25 0.25 0.28 0.00 0.00 0.00 0.00 0.00 0.00
49.35 48.22 45.44 45.09 44.54 45.08 45.69 48.27 48.84 47.42 47.38 44.31

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