Ugar Sugar Works Ltd

₹ 97.4 2.96%
31 Jan - close price
About

Incorporated in 1939, The Ugar Sugar Works Ltd. is engaged in the manufacture and sale of sugar, industrial and potable alcohol, and generation and distribution of electricity. [1]

Key Points

Business Segments
Sugar: The main product of the sugar manufacturing process is White Crystal Sugar. The Co. is also engaged in the manufacturing of Bagasse, Filter Cake and Final Molasses.
[1]
Power: The Co. is also engaged in the Co-generation of electricity. It has the capacity generating 44 MW of power, of which 15 MW is used for captive consumption and the balance 28 MW is fed to the grid (KPTCL). [2]
Distillery: The Co has two distilleries and Indian Made Liquor (IML) units. The 2 distilleries have a combined capacity of 75000 LPD. The distillery division is engaged in the production of Ethanol (Absolute Alcohol), Rectified Spirit, Malt Spirit, Extra Neutral Alcohol. [3]

  • Market Cap 1,095 Cr.
  • Current Price 97.4
  • High / Low 116 / 32.5
  • Stock P/E 18.8
  • Book Value 9.87
  • Dividend Yield 0.26 %
  • ROCE 11.9 %
  • ROE 43.3 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 32.4%

Cons

  • Stock is trading at 9.86 times its book value
  • Tax rate seems low

* 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

Standalone Figures in Rs. Crores / View Consolidated

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
166 260 226 209 191 235 320 222 253 299 363 335 256
163 224 173 208 194 189 296 223 246 234 335 311 253
Operating Profit 3 36 53 1 -3 46 24 -1 7 64 29 24 3
OPM % 2% 14% 24% 0% -1% 19% 7% -0% 3% 22% 8% 7% 1%
0 1 1 0 1 1 4 0 0 1 1 2 0
Interest 15 6 11 11 9 10 12 13 11 10 11 14 12
Depreciation 3 4 3 3 3 3 3 3 3 3 3 3 4
Profit before tax -15 27 41 -13 -14 34 12 -16 -6 53 16 9 -12
Tax % -5% 4% 2% 7% 4% 4% 14% -7% 7% 3% 6% 33% -10%
Net Profit -15 25 40 -12 -14 33 10 -17 -6 51 15 6 -13
EPS in Rs -1.35 2.26 3.55 -1.09 -1.23 2.92 0.92 -1.50 -0.52 4.55 1.32 0.51 -1.20
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
596 657 718 642 652 837 585 650 750 870 956 1,137 1,254
540 577 650 621 631 787 521 671 700 802 888 1,038 1,133
Operating Profit 55 80 67 21 21 50 65 -21 50 68 68 99 121
OPM % 9% 12% 9% 3% 3% 6% 11% -3% 7% 8% 7% 9% 10%
4 2 6 10 3 9 8 3 9 3 6 2 4
Interest 27 30 29 33 15 29 30 29 38 43 43 44 47
Depreciation 29 25 25 26 15 16 15 19 15 14 12 11 13
Profit before tax 4 27 19 -28 -6 15 28 -66 5 14 19 46 65
Tax % -4% 38% 10% -8% 45% 24% 7% -3% 21% 1% 8% 7%
Net Profit 4 17 17 -30 -3 11 26 -68 4 14 17 43 58
EPS in Rs 0.36 1.52 1.55 -2.65 -0.29 1.00 2.31 -6.06 0.39 1.22 1.52 3.85 5.18
Dividend Payout % 0% 13% 13% 0% 0% 25% 9% 0% 0% 8% 13% 6%
Compounded Sales Growth
10 Years: 6%
5 Years: 14%
3 Years: 15%
TTM: 22%
Compounded Profit Growth
10 Years: 9%
5 Years: 11%
3 Years: 115%
TTM: 184%
Stock Price CAGR
10 Years: 22%
5 Years: 36%
3 Years: 92%
1 Year: 196%
Return on Equity
10 Years: 4%
5 Years: 3%
3 Years: 32%
Last Year: 43%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
11 11 11 11 11 11 11 11 11 11 11 11 11
Reserves 76 90 105 75 72 80 102 34 40 52 68 109 100
313 285 357 246 190 278 364 474 554 514 610 700 465
208 278 181 278 376 390 140 341 278 252 202 341 144
Total Liabilities 609 664 654 610 649 759 617 860 883 830 892 1,162 720
168 150 172 159 170 158 164 163 152 136 127 117 146
CWIP 7 7 4 1 2 3 4 1 0 1 3 112 97
Investments 1 0 2 6 6 6 6 4 4 4 4 4 4
432 507 476 444 471 592 444 691 726 689 759 929 473
Total Assets 609 664 654 610 649 759 617 860 883 830 892 1,162 720

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
47 53 5 164 75 -38 -13 37 -46 45 -78 93
-7 -10 -47 -15 -26 -4 -20 -13 -2 -1 -6 -131
-43 -39 33 -146 -60 38 44 -15 30 -37 79 39
Net Cash Flow -3 3 -10 3 -10 -4 11 8 -19 6 -5 1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 21 17 7 21 12 62 7 25 14 5 19 28
Inventory Days 302 351 283 251 318 229 381 408 432 330 314 331
Days Payable 95 134 55 97 175 98 8 186 134 96 57 96
Cash Conversion Cycle 228 235 235 175 154 194 380 248 312 239 276 263
Working Capital Days 110 112 137 81 50 79 166 119 152 141 192 169
ROCE % 7% 15% 11% 1% 3% 14% 14% -7% 8% 10% 10% 12%

Shareholding Pattern

Numbers in percentages

26 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
45.22 45.22 45.22 45.23 45.23 45.38 45.42 45.42 44.61 44.52 44.51 44.35
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.03 0.18 0.31 0.44 0.91
0.04 0.01 0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.04
54.74 54.76 54.77 54.77 54.77 54.62 54.58 54.55 55.21 55.17 55.05 54.71

* 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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