Rana Sugars Ltd

Rana Sugars Ltd

₹ 19.4 -1.52%
28 Mar - close price
About

Incorporated in 1991, Rana Sugars
Ltd manufactures Sugar, Ethanol
and co-generation of power[1]

Key Points

Business Overview:[1]
RSL is a part of Rana Group and was formed as a joint venture with Punjab Agro Industrial Corporation Ltd. It is an integrated sugar manufacturing company with interest in Sugar, Power, and Alcohol

  • Market Cap 298 Cr.
  • Current Price 19.4
  • High / Low 30.4 / 18.0
  • Stock P/E 5.77
  • Book Value 33.4
  • Dividend Yield 0.00 %
  • ROCE 12.6 %
  • ROE 12.5 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.58 times its book value

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 10.8% over past five years.
  • Promoter holding is low: 22.6%
  • Contingent liabilities of Rs.104 Cr.
  • Working capital days have increased from 34.6 days to 70.6 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

Figures in Rs. Crores

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
290.82 513.19 373.17 276.91 264.08 486.12 427.36 378.05 370.45 451.62 499.94 340.13 337.16
262.96 424.92 308.07 253.97 235.96 424.59 404.09 370.28 345.69 394.09 467.05 344.75 318.90
Operating Profit 27.86 88.27 65.10 22.94 28.12 61.53 23.27 7.77 24.76 57.53 32.89 -4.62 18.26
OPM % 9.58% 17.20% 17.45% 8.28% 10.65% 12.66% 5.45% 2.06% 6.68% 12.74% 6.58% -1.36% 5.42%
2.20 0.50 0.07 0.39 -14.65 2.08 8.94 4.44 0.55 9.47 3.68 5.50 2.90
Interest 4.47 4.43 4.30 4.67 4.06 15.80 4.94 4.38 3.71 9.88 7.90 5.63 5.48
Depreciation 5.27 11.26 6.75 6.75 6.80 7.43 7.49 6.98 7.47 9.40 7.83 8.33 8.22
Profit before tax 20.32 73.08 54.12 11.91 2.61 40.38 19.78 0.85 14.13 47.72 20.84 -13.08 7.46
Tax % 0.00% -0.18% 0.00% 0.00% 0.00% 58.94% 21.03% 0.00% 88.89% 4.92% 26.25% -11.62% 26.27%
20.33 73.21 54.11 11.90 2.62 16.58 15.63 0.84 1.57 45.36 15.37 -14.60 5.50
EPS in Rs 1.32 4.77 3.52 0.77 0.17 1.08 1.02 0.05 0.10 2.95 1.00 -0.95 0.36
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 TTM
553 704 648 698 856 1,091 977 1,092 1,313 1,222 1,400 1,627 1,629
464 592 564 674 717 1,012 940 1,049 1,229 1,095 1,222 1,514 1,525
Operating Profit 90 112 84 24 139 79 37 42 84 126 178 113 104
OPM % 16% 16% 13% 3% 16% 7% 4% 4% 6% 10% 13% 7% 6%
1 -1 -0 8 1 2 7 15 231 77 -13 23 22
Interest 79 73 80 87 95 90 99 94 22 18 29 23 29
Depreciation 32 33 33 27 28 28 31 33 34 27 28 31 34
Profit before tax -20 5 -30 -82 17 -38 -87 -69 259 158 109 82 63
Tax % -0% 1% 19% 33% -0% -19% 1% -8% -3% -0% 22% 23%
-20 5 -24 -55 17 -45 -86 -75 266 158 85 63 52
EPS in Rs -1.33 0.35 -1.56 -3.58 1.09 -2.94 -5.63 -4.88 17.30 10.27 5.55 4.13 3.36
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 9%
5 Years: 11%
3 Years: 7%
TTM: -2%
Compounded Profit Growth
10 Years: 25%
5 Years: 22%
3 Years: 10%
TTM: 49%
Stock Price CAGR
10 Years: 23%
5 Years: 42%
3 Years: 26%
1 Year: -9%
Return on Equity
10 Years: %
5 Years: %
3 Years: 22%
Last Year: 13%

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 Sep 2023
Equity Capital 154 154 154 154 154 154 154 154 154 154 154 154 154
Reserves 61 67 43 -12 5 -54 -169 -243 23 181 267 331 360
Preference Capital 41 41 41 41 41 0 42 43 45 48 50 53
644 662 768 783 823 841 823 831 258 160 172 359 187
329 366 371 385 458 258 579 605 629 642 698 619 411
Total Liabilities 1,187 1,249 1,336 1,310 1,440 1,199 1,387 1,346 1,064 1,136 1,290 1,462 1,111
479 454 453 439 447 455 450 431 378 421 452 521 520
CWIP 25 40 32 34 29 28 21 30 38 28 57 14 32
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
683 755 851 836 964 717 916 886 648 688 781 926 560
Total Assets 1,187 1,249 1,336 1,310 1,440 1,199 1,387 1,346 1,064 1,136 1,290 1,462 1,111

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
70 54 3 92 93 113 160 105 329 146 92 -84
-21 -24 -17 -15 -27 -36 -63 -28 -36 -62 -123 -98
-45 -33 26 -96 -52 -87 -103 -85 -246 -76 -3 170
Net Cash Flow 4 -2 13 -19 14 -10 -7 -8 47 8 -34 -12

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 30 30 33 30 32 24 52 46 40 41 28 29
Inventory Days 533 411 516 387 401 168 231 207 104 151 196 180
Days Payable 161 143 150 129 163 59 196 202 157 201 201 132
Cash Conversion Cycle 401 298 399 288 270 133 88 51 -12 -9 23 77
Working Capital Days 215 199 262 217 184 118 90 62 1 6 27 71
ROCE % 7% 9% 5% 1% 11% 5% 1% 3% 9% 20% 26% 13%

Shareholding Pattern

Numbers in percentages

4 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
22.64% 22.64% 22.64% 22.64% 22.64% 22.64% 22.64% 22.64% 22.64% 22.64% 22.64% 22.64%
1.23% 1.98% 1.86% 1.90% 2.80% 2.32% 1.96% 0.14% 0.01% 0.00% 1.73% 0.00%
0.02% 0.02% 0.02% 0.02% 0.01% 0.02% 0.00% 0.10% 0.10% 0.00% 0.00% 0.00%
1.66% 1.66% 1.66% 1.66% 1.66% 1.67% 1.67% 1.67% 1.67% 1.66% 1.66% 1.66%
74.45% 73.70% 73.82% 73.78% 72.89% 73.36% 73.75% 75.46% 75.59% 75.70% 73.97% 75.70%
No. of Shareholders 66,45675,96185,12189,0091,14,0961,20,2431,18,5131,20,5491,19,4141,16,0791,15,4681,17,682

* 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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