Dharani Sugars & Chemicals Ltd

₹ 8.55 2.40%

30 Jun 2023

About

Incorporated in 1987, Dharani Sugars and Chemicals Ltd deals in manufacturing Sugar,
Co-generation of Power and Alcohol including Ethanol^[1]

Key Points

Product Profile:^[1]
a) White Sugar
b) Generation of electricity
c) Industrial alcohol

Website BSE

Market Cap ₹ 28.4 Cr.
Current Price ₹ 8.55
High / Low ₹ 9.65 / 7.50
Stock P/E
Book Value ₹ -59.4
Dividend Yield 0.00 %
ROCE -8.84 %
ROE %
Face Value ₹ 10.0

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Pros

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of -72.1% over past five years.
Contingent liabilities of Rs.12.4 Cr.
Promoters have pledged 54.0% of their holding.
Company has high debtors of 2,008 days.

* 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

Figures in Rs. Crores

	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
	2.17	24.10	6.60	0.16	0.23	29.45	10.23	0.00	0.00	0.00	0.00	0.00	0.82
	15.66	25.94	11.96	5.40	6.12	30.77	17.67	4.74	4.33	2.51	2.27	2.58	2.69
Operating Profit	-13.49	-1.84	-5.36	-5.24	-5.89	-1.32	-7.44	-4.74	-4.33	-2.51	-2.27	-2.58	-1.87
OPM %	-621.66%	-7.63%	-81.21%	-3,275.00%	-2,560.87%	-4.48%	-72.73%						-228.05%
	34.88	0.09	5.62	0.04	0.06	0.17	0.75	0.05	0.04	0.02	0.06	0.02	0.03
Interest	-19.48	0.01	0.02	0.02	2.06	1.09	1.10	1.20	-3.38	0.00	0.00	0.00	0.00
Depreciation	5.61	5.56	6.14	5.85	5.85	5.84	5.84	5.84	5.84	5.56	5.56	5.56	5.56
Profit before tax	35.26	-7.32	-5.90	-11.07	-13.74	-8.08	-13.63	-11.73	-6.75	-8.05	-7.77	-8.12	-7.40
Tax %	-9.64%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	38.65	-7.32	-5.91	-11.07	-13.74	-8.08	-13.63	-11.74	-6.75	-8.06	-7.77	-8.13	-7.40
EPS in Rs	11.64	-2.20	-1.78	-3.33	-4.14	-2.43	-4.11	-3.54	-2.03	-2.43	-2.34	-2.45	-2.23
Raw PDF

Profit & Loss

Figures in Rs. Crores

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	615	578	524	364	364	509	482	316	110	31	40	1
	530	486	475	374	324	435	482	353	154	49	57	10
Operating Profit	84	93	49	-11	40	74	-0	-37	-44	-18	-18	-9
OPM %	14%	16%	9%	-3%	11%	15%	-0%	-12%	-40%	-59%	-45%	-1,127%
	1	2	2	18	9	8	17	4	35	6	1	0
Interest	49	54	65	66	68	75	79	75	2	2	0	0
Depreciation	21	24	29	21	23	23	23	23	22	23	23	22
Profit before tax	16	17	-43	-81	-43	-16	-85	-131	-33	-38	-40	-31
Tax %	37%	28%	21%	8%	72%	-12%	-1%	-14%	10%	0%	0%	0%
	10	12	-34	-74	-12	-17	-85	-149	-30	-38	-40	-31
EPS in Rs	3.49	4.15	-11.50	-25.23	-4.08	-5.25	-25.72	-44.98	-9.00	-11.46	-12.11	-9.45
Dividend Payout %	29%	24%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-48%
5 Years:	-72%
3 Years:	-80%
TTM:	-98%

Compounded Profit Growth
10 Years:	%
5 Years:	10%
3 Years:	15%
TTM:	22%

Stock Price CAGR
10 Years:	-9%
5 Years:	-5%
3 Years:	12%
1 Year:	-4%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	%

Balance Sheet

Figures in Rs. Crores

	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	29	29	29	29	29	33	33	33	33	33	33	33
Reserves	88	97	63	-11	158	141	57	-92	-122	-160	-200	-230
	485	528	556	588	611	620	559	518	512	536	533	539
	98	173	184	184	185	165	208	236	180	158	169	175
Total Liabilities	700	827	832	790	982	959	857	694	603	568	536	517
	342	487	477	462	629	610	604	583	558	538	514	492
CWIP	118	8	10	13	16	18	0	0	0	0	0	0
Investments	5	5	5	5	24	26	29	17	15	15	15	15
	235	327	340	310	313	305	224	95	30	15	7	11
Total Assets	700	827	832	790	982	959	857	694	603	568	536	517

Cash Flows

Figures in Rs. Crores

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	75	59	55	50	61	113	145	89	7	-14	-3	-5
	-70	-55	-12	-6	-4	-5	-8	14	0	1	0	0
	2	-10	-41	-39	-65	-108	-138	-104	-9	18	-3	6
Net Cash Flow	7	-6	1	5	-8	1	-1	-1	-2	5	-6	1

Ratios

Figures in Rs. Crores

	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	45	25	15	43	55	40	35	49	57	60	42	2,008
Inventory Days	71	212	235	246	335	226	133	32	25	28	7
Days Payable	27	48	101	154	187	77	114	140	400	1,263	954
Cash Conversion Cycle	89	190	149	134	203	190	53	-59	-318	-1,175	-906	2,008
Working Capital Days	74	67	56	83	64	17	-88	-323	-445	-1,541	-1,324	-65,540
ROCE %	11%	11%	3%	-2%	4%	7%	-1%	-11%	-15%	-9%	-10%

Shareholding Pattern

Numbers in percentages

	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
	61.55%	61.55%	61.55%	61.55%	61.55%	61.55%	61.55%	61.55%	61.55%	61.55%	61.55%	61.55%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.16%	0.00%	0.00%	0.00%
	0.02%	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	38.43%	38.43%	38.44%	38.44%	38.44%	38.44%	38.44%	38.44%	38.28%	38.43%	38.44%	38.44%
No. of Shareholders	12,926	12,876	12,466	12,457	14,091	16,672	17,930	18,744	19,778	19,586	19,761	19,674

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	61.55%	61.55%	61.55%	61.55%	61.55%	61.55%	61.55%
	0.05%	0.06%	0.06%	0.02%	0.01%	0.01%	0.01%
	38.39%	38.38%	38.39%	38.43%	38.44%	38.44%	38.44%
No. of Shareholders	16,092	16,514	16,037	12,951	12,457	18,744	19,674

* 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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Dharani Sugars & Chemicals Ltd

Dharani Sugars & Chemicals Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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