Dhampur Sugar Mills Ltd

About [ edit ]

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. #

Key Points [ edit ]
  • Market Cap 1,388 Cr.
  • Current Price 209
  • High / Low 214 / 86.6
  • Stock P/E 5.74
  • Book Value 219
  • Dividend Yield 2.87 %
  • ROCE 9.96 %
  • ROE 16.7 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Stock is trading at 0.96 times its book value

Cons

  • Tax rate seems low
  • Company might be capitalizing the interest cost

Peer comparison

Sector: Sugar Industry: Sugar

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
921 734 533 799 867 924 693 801 1,066 1,079 931 1,089
909 643 461 679 691 809 661 710 951 965 859 979
Operating Profit 12 91 72 120 176 115 32 91 115 114 72 110
OPM % 1% 12% 13% 15% 20% 12% 5% 11% 11% 11% 8% 10%
Other Income 15 3 3 1 12 13 11 2 5 5 2 1
Interest 28 30 18 15 28 34 21 20 25 26 21 13
Depreciation 17 15 12 16 27 18 18 19 21 20 16 22
Profit before tax -18 49 44 89 133 76 4 53 74 73 37 77
Tax % 51% 35% 36% 8% 18% 23% 49% 4% -41% 24% 25% 29%
Net Profit -9 32 29 82 108 58 3 51 104 55 28 55
EPS in Rs -1.38 4.86 4.35 12.38 16.23 8.81 0.44 7.69 15.68 8.26 4.24 8.25

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Sep 2008 Sep 2009 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
668 934 2,349 1,538 1,481 1,823 1,777 2,233 2,584 3,352 2,892 3,485 4,166
554 741 2,137 1,334 1,260 1,693 1,644 2,023 2,068 2,997 2,433 3,132 3,755
Operating Profit 114 193 212 203 221 130 133 210 516 354 459 354 411
OPM % 17% 21% 9% 13% 15% 7% 8% 9% 20% 11% 16% 10% 10%
Other Income 11 15 29 4 11 21 17 35 25 27 18 30 13
Interest 78 83 127 95 116 159 150 159 167 122 90 101 85
Depreciation 53 63 99 68 77 76 55 55 54 58 70 76 79
Profit before tax -6 61 15 45 39 -84 -54 31 320 203 317 207 260
Tax % 155% 10% 12% 34% 42% 7% 76% 18% 28% 25% 21% -4%
Net Profit 4 56 13 30 23 -78 -13 26 229 152 251 217 242
EPS in Rs 0.67 10.55 2.43 5.50 4.21 -13.69 -2.19 4.30 34.43 22.85 37.81 32.61 36.43
Dividend Payout % 0% 14% 62% 23% 30% 0% 0% 0% 17% 13% 17% 18%
Compounded Sales Growth
10 Years:14%
5 Years:14%
3 Years:10%
TTM:27%
Compounded Profit Growth
10 Years:14%
5 Years:81%
3 Years:-2%
TTM:10%
Stock Price CAGR
10 Years:13%
5 Years:19%
3 Years:28%
1 Year:108%
Return on Equity
10 Years:12%
5 Years:18%
3 Years:18%
Last Year:17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Sep 2008 Sep 2009 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
62 62 63 63 83 80 76 75 66 66 66 66 66
Reserves 389 441 452 422 404 361 347 635 836 935 1,158 1,295 1,385
Borrowings 934 736 895 992 1,439 1,335 1,609 1,657 1,915 1,449 1,824 1,752 761
178 483 532 575 760 981 1,013 843 514 685 877 755 758
Total Liabilities 1,554 1,713 1,933 2,044 2,657 2,735 3,028 3,196 3,331 3,136 3,927 3,869 2,970
984 994 1,009 985 1,073 1,086 1,254 1,496 1,494 1,597 1,597 1,638 1,611
CWIP 56 44 18 35 19 207 18 28 27 24 34 7 31
Investments 13 13 9 9 1 2 1 1 3 2 12 2 3
501 662 897 1,015 1,564 1,440 1,755 1,671 1,807 1,512 2,284 2,222 1,326
Total Assets 1,554 1,713 1,933 2,044 2,657 2,735 3,028 3,196 3,331 3,136 3,927 3,869 2,970

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Sep 2008 Sep 2009 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
-21 347 68 52 -149 481 -81 168 -48 805 -203 338
-148 -51 -111 -52 -53 -247 -46 -42 -56 -140 -90 -49
177 -279 30 -11 221 -239 125 -117 106 -647 268 -293
Net Cash Flow 8 17 -13 -11 19 -5 -2 9 2 19 -26 -3

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Sep 2008 Sep 2009 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 11% 11% 10% 9% 4% 5% 8% 19% 12% 15% 10%
Debtor Days 44 31 13 51 36 24 46 41 31 27 49 36
Inventory Turnover 1.69 3.31 1.66 1.02 1.14 1.13 1.39 1.26 2.03 1.44 1.66

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 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
3.63 1.14 2.17 3.89 4.72 3.97 2.80 2.38 1.77 1.73 2.71 2.85
0.21 0.23 0.28 1.33 0.86 2.16 2.75 2.85 0.88 0.35 0.79 0.68
0.20 0.20 0.25 0.25 0.25 0.25 0.28 0.00 0.00 0.00 0.00 0.00
46.88 49.35 48.22 45.44 45.09 44.54 45.08 45.69 48.27 48.84 47.42 47.38

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