Mawana Sugars Ltd

₹ 90.1 6.50%
31 Jan - close price
mawanasugars.com BSE: 523371 NSE : MAWANASUG
About

Mawana Sugars Limited was founded by Shriram Enterprises in 1949 and later emerged as an independent entity in 1989 with the restructuring of the erstwhile DCM Group. It is engaged in the business of manufacturing and selling of sugar, ethanol and power. [1][2]

Key Points

Business Segments
Sugar Bulk - Plantation White Sugar, Refined Sugar, specialty sugars and IP grade sugar for Pharmaceutical segment.
Distillery - Anhydrous and hydrous ethanol : Rectified Spirit, Denatured Spirit and Fuel Ethanol.
Co-Generation - Cogeneration plant generates green power using bagasse (residue from cane sugar processing) for captive requirement of the sugar plant and export to Uttar Pradesh Power Corporation Limited (UPPCL). [1][2][3]

Website BSE NSE
  • Market Cap ₹ 352 Cr.
  • Current Price ₹ 90.1
  • High / Low ₹ 180 / 73.8
  • Stock P/E 63.3
  • Book Value ₹ 83.9
  • Dividend Yield 3.33 %
  • ROCE 9.71 %
  • ROE 8.10 %
  • Face Value ₹ 10.0
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Pros

  • Stock is trading at 1.07 times its book value
  • Stock is providing a good dividend yield of 3.33%.
  • Company has been maintaining a healthy dividend payout of 20.3%

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 4.42% over past five years.
  • Company has a low return on equity of -5.11% over last 3 years.
  • Working capital days have increased from 85.6 days to 126 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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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
234 400 392 400 369 345 355 360 336 488 294 308 341
255 392 342 388 380 346 277 348 339 454 232 305 368
Operating Profit -21 9 50 13 -11 -1 78 12 -3 33 62 3 -27
OPM % -9% 2% 13% 3% -3% -0% 22% 3% -1% 7% 21% 1% -8%
4 2 1 1 1 1 111 1 -2 2 -2 -0 1
Interest 5 5 6 7 10 9 9 6 8 4 7 9 9
Depreciation 16 16 14 12 12 12 12 10 10 10 10 9 8
Profit before tax -38 -11 30 -5 -33 -21 168 -2 -23 21 42 -15 -43
Tax % 34% 32% 287% 7% 25% 0% 24% 15% 21% 26% 27% 22% 24%
Net Profit -25 -7 -57 -4 -25 -21 127 -2 -18 15 31 -12 -32
EPS in Rs -6.36 -1.91 -14.52 -1.07 -6.30 -5.47 32.58 -0.52 -4.61 3.88 7.94 -3.04 -8.29
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Sep 2009 Mar 2011 Sep 2012 Sep 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
720 1,715 1,799 1,342 1,399 1,485 1,191 1,344 1,165 1,161 1,469 1,478 1,431
675 1,638 1,779 1,398 1,452 1,379 1,022 1,301 1,050 1,109 1,372 1,373 1,360
Operating Profit 44 76 21 -57 -52 106 169 43 115 52 96 105 72
OPM % 6% 4% 1% -4% -4% 7% 14% 3% 10% 4% 7% 7% 5%
23 54 -26 30 9 10 356 27 11 17 92 -2 1
Interest 71 113 124 91 77 77 51 38 24 27 35 26 30
Depreciation 53 79 77 50 61 38 30 24 33 56 48 40 38
Profit before tax -56 -62 -206 -168 -181 1 443 7 69 -13 105 38 5
Tax % -1% -1% 1% -1% -0% 0% 19% -33% 41% -521% 31% 31%
Net Profit -57 -63 -204 -170 -181 1 359 10 40 -83 73 26 2
EPS in Rs -18.58 -17.95 -58.35 -43.15 -46.37 0.20 91.78 2.49 10.32 -21.19 18.73 6.69 0.49
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 16% 45%
Compounded Sales Growth
10 Years: %
5 Years: 4%
3 Years: 8%
TTM: 3%
Compounded Profit Growth
10 Years: %
5 Years: -17%
3 Years: -8%
TTM: 38%
Stock Price CAGR
10 Years: 23%
5 Years: 8%
3 Years: 34%
1 Year: 8%
Return on Equity
10 Years: %
5 Years: -1%
3 Years: -5%
Last Year: 8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Sep 2009 Mar 2011 Sep 2012 Sep 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
35 35 35 39 39 39 39 39 39 39 39 39 39
Reserves 185 123 -79 -245 -427 -426 292 302 342 257 331 345 289
701 829 571 702 504 482 244 143 239 488 276 416 283
174 343 376 394 818 958 588 622 788 689 735 251 140
Total Liabilities 1,096 1,330 903 890 934 1,053 1,163 1,105 1,408 1,474 1,380 1,051 751
758 645 574 529 474 441 321 313 296 298 232 212 196
CWIP 2 1 1 1 1 3 4 8 8 1 13 3 21
Investments 1 1 2 0 0 0 0 0 15 13 10 4 4
334 683 327 360 460 609 838 784 1,089 1,161 1,126 832 530
Total Assets 1,096 1,330 903 890 934 1,053 1,163 1,105 1,408 1,474 1,380 1,051 751

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Sep 2009 Mar 2011 Sep 2012 Sep 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
27 -93 372 -59 235 38 49 63 -100 -139 160 -151
-10 75 -0 14 -15 -4 121 83 -17 -42 129 -13
-20 18 -368 45 -206 -30 -157 -127 94 195 -245 107
Net Cash Flow -3 0 4 0 15 4 13 19 -23 14 43 -57

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Sep 2009 Mar 2011 Sep 2012 Sep 2013 Dec 2014 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 9 8 6 11 13 18 13 14 12 15 10 10
Inventory Days 204 161 56 90 108 165 238 176 417 333 246 214
Days Payable 134 66 76 107 225 268 217 204 355 231 201 57
Cash Conversion Cycle 79 103 -14 -5 -104 -85 34 -14 74 117 55 167
Working Capital Days 74 45 -52 -63 -159 -131 -18 -30 9 67 64 126
ROCE % 1% 2% -5% -19% -34% 73% 44% 6% 17% 2% 7% 10%

Shareholding Pattern

Numbers in percentages

2 recently
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
63.49 63.49 63.49 63.49 63.49 63.49 63.49 63.49 63.49 63.49 63.49 63.49
0.00 0.00 0.00 0.00 0.00 0.00 0.09 0.32 1.66 1.71 1.11 0.08
1.67 1.65 1.65 1.59 1.58 1.15 1.14 1.13 0.46 0.32 0.31 0.31
34.84 34.85 34.85 34.92 34.92 35.36 35.28 35.06 34.39 34.48 35.09 36.12

* 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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