Bajaj Hindusthan Sugar Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Sugar: 80.1% • Power: 11.6% • Distillery: 7.8%
AI Sector View
AI GENERATEDFast Moving Consumer Goods
Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.
PROS
- Institutional investors have been accumulating - FII+DII up 41.5pp
- Company generates healthy free cash flow
CONS
- Recent results are weak - TTM profit is down 182.0% versus prior year
- Company has a low return on equity of -4.1% over last 3 years
- Company has a low return on capital employed of 1.7%
- Promoter holding has decreased over last 2 years: -11.6pp
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.58x)
- Company's sales have been declining over the last five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BALRAMCHIN | 707.05 | 40.32 | 14961.00 | 0.49 | 44.15 | -14.40 | 1636.79 | 6.13 | 9.29 | 7.36 |
| EIDPARRY | 734.15 | 28.10 | 13064.62 | 0.00 | 311.50 | -32.93 | 9017.52 | 3.37 | 23.60 | 8.33 |
| TRIVENI | 263.95 | 20.69 | 5816.48 | 1.04 | 3.65 | 73.81 | 1950.14 | -0.22 | 8.92 | 2.94 |
| RENUKA | 24.82 | 0.00 | 5282.91 | 0.00 | -251.50 | 4.59 | 2120.20 | 5.61 | -3.84 | -3.60 |
| BAJAJHIND | 21.42 | 44.25 | 5120.81 | 0.00 | -1847.00 | -961.49 | 11259.70 | 801.92 | 2.86 | -10.64 |
| BANARISUG | 3570.20 | 36.77 | 4476.92 | 0.35 | -10.92 | -171.57 | 172.45 | -58.81 | 9.33 | -3.00 |
| DALMIASUG | 433.45 | 14.82 | 3508.31 | 1.38 | 6.91 | — | 848.19 | -16.48 | 8.38 | 5.10 |
| AVADHSUGAR | 794.15 | 24.10 | 1589.76 | 1.26 | 0.23 | 102.78 | 779.25 | 8.74 | 6.50 | 4.68 |
| GODAVARIB | 234.70 | 5338.22 | 1201.10 | 0.00 | -19.32 | -20.62 | 557.88 | 4.62 | 5.79 | 0.09 |
| UTTAMSUGAR | 282.75 | 12.40 | 1078.36 | 0.88 | 1.30 | -91.05 | 606.37 | -3.56 | 11.62 | 4.32 |
| DHAMPURSUG | 166.45 | 15.23 | 1070.38 | 1.20 | 60.90 | 6592.31 | 7861.70 | 961.42 | 6.63 | 3.98 |
| DWARKESH | 45.97 | 58.79 | 851.83 | 0.22 | -257.31 | -2642.01 | 3581.31 | 783.26 | 4.64 | -7.18 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,360 | 1,133 | 1,741 | 1,870 | 1,386 | 1,160 | 1,476 | 1,552 | 1,248 | 1,157 | 1,380 | 1,669 | 11,260 | |
| 1,338 | 1,189 | 1,630 | 1,701 | 1,358 | 1,159 | 1,500 | 1,268 | 1,275 | 1,211 | 1,307 | 1,295 | 13,133 | |
| Operating Profit | 22 | -55 | 111 | 170 | 28 | 1 | -24 | 284 | -27 | -54 | 73 | 373 | -1,873 |
| OPM % | 1.63% | -4.88% | 6.36% | 9.08% | 1.99% | 0.09% | -1.66% | 18.27% | -2.15% | -4.66% | 5.29% | 22.37% | -16.64% |
| 3 | 30 | 4 | 4 | 5 | 4 | 1 | 11 | 3 | 5 | 3 | -3 | 23 | |
| Interest | 45 | 42 | 39 | 37 | 29 | 26 | 24 | 210 | 6 | 3 | 7 | 18 | 114 |
| Depreciation | 55 | 56 | 56 | 55 | 54 | 54 | 54 | 53 | 54 | 54 | 54 | 53 | 561 |
| Profit before Tax | -75 | -123 | 20 | 82 | -51 | -76 | -102 | 31 | -83 | -106 | 15 | 299 | -1,850 |
| Tax % | 0.01% | 0.01% | -0.05% | -9.82% | -10.75% | 0.28% | 0.23% | -0.77% | -110.59% | 0.30% | -1.24% | -30.68% | 0.13% |
| Net Profit | 0 | 0 | 0 | 0 | -67 | -76 | -102 | 2,201 | -174 | -105 | 15 | 391 | -1,847 |
| -0.60 | -0.99 | 0.17 | 0.73 | -0.45 | -0.60 | -0.82 | 0.25 | -1.40 | -0.83 | 0.12 | 2.30 | -0.23 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 4,399 | 5,847 | 6,806 | 6,669 | 6,666 | 5,576 | 6,338 | 6,104 | 5,573 | 5,455 | 15,466 | |
| 3,548 | 5,575 | 6,510 | 6,216 | 6,503 | 5,404 | 6,075 | 5,857 | 5,285 | 5,089 | 16,947 | |
| Operating Profit | 851 | 272 | 296 | 453 | 163 | 171 | 263 | 247 | 288 | 366 | -1,481 |
| OPM % | 19.35% | 4.65% | 4.35% | 6.79% | 2.44% | 3.07% | 4.14% | 4.05% | 5.16% | 6.70% | -9.57% |
| 96 | 101 | 96 | 12 | 23 | 26 | 23 | 42 | 20 | 8 | 28 | |
| Interest | 802 | 680 | 322 | 301 | 264 | 254 | 210 | 162 | 858 | 33 | 142 |
| Depreciation | 243 | 197 | 204 | 216 | 216 | 215 | 213 | 222 | 216 | 216 | 723 |
| Profit before Tax | -98 | -505 | -134 | -52 | -294 | -272 | -138 | -95 | -766 | 125 | -1,642 |
| Tax % | 5.87% | 0.97% | -1.96% | 4.51% | 0.98% | 1.47% | 2.48% | 8.55% | -0.62% | -0.73% | 5.76% |
| Net Profit | -92 | -500 | -137 | -50 | -291 | -268 | -135 | -87 | -771 | 126 | -1,547 |
| EPS | -0.84 | -4.54 | -1.24 | -0.45 | -2.64 | -2.23 | -1.08 | -0.69 | -6.26 | 0.53 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 2%
- 5 Years:
- -4%
- 3 Years:
- -5%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- 2%
- 5 Years:
- 8%
- 3 Years:
- -6%
- 1 Year:
- 1%
RETURN ON EQUITY
- 10 Years:
- -6%
- 5 Years:
- -6%
- 3 Years:
- -4%
- Last Year:
- 23%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 110 | 110 | 110 | 110 | 110 | 124 | 124 | 124 | 124 | 237 | |
| Minority Interest | 0 | -0 | -0 | -0 | -0 | -0 | 10 | 10 | 9 | 1 |
| 3,355 | 2,832 | 2,682 | 2,587 | 2,262 | 2,135 | 4,300 | 4,351 | 27 | 709 | |
| 5,715 | 6,069 | 5,408 | 5,179 | 4,864 | 4,293 | 3,887 | 3,564 | 3,575 | 3,545 | |
| Trade Payables | 2,787 | 3,375 | 4,166 | 4,444 | 4,462 | 4,095 | 4,556 | 3,595 | 3,545 | 3,197 |
| 2,369 | 1,689 | 1,444 | 1,232 | 1,438 | 2,410 | 3,068 | 4,267 | 8,016 | 6,615 | |
| Total Liabilities | 14,337 | 14,074 | 13,810 | 13,552 | 13,136 | 13,057 | 15,946 | 15,911 | 15,296 | 14,306 |
| 7,736 | 7,543 | 7,397 | 7,194 | 6,993 | 6,805 | 7,800 | 7,582 | 7,326 | 7,136 | |
| Capital Work in Progress | 46 | 75 | 26 | 53 | 35 | 8 | 5 | 8 | 13 | 41 |
| 1,278 | 1,225 | 1,191 | 1,136 | 1,085 | 1,918 | 4,480 | 4,596 | 4,269 | 3,569 | |
| 3,010 | 2,848 | 2,765 | 2,711 | 2,541 | 2,746 | 2,613 | 2,721 | 2,680 | 2,425 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 156 | 108 | 99 | |
| Cash & Bank | 85 | 64 | 67 | 115 | 74 | 52 | 23 | 52 | 74 | 88 |
| 2,182 | 2,319 | 2,364 | 2,343 | 2,407 | 1,528 | 1,024 | 796 | 829 | 948 | |
| Total Assets | 14,337 | 14,074 | 13,810 | 13,552 | 13,136 | 13,057 | 15,946 | 15,911 | 15,296 | 14,306 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 707 | 920 | 1,117 | 912 | 333 | 609 | 791 | 646 | 280 | 230 | |
| Cash from Investing | -14 | -29 | -4 | -21 | 22 | 13 | 12 | -3 | 20 | 562 |
| Cash from Financing | -707 | -918 | -1,098 | -839 | -384 | -654 | -833 | -615 | -281 | -776 |
| -20 | 6 | 16 | 50 | -30 | -22 | -29 | 29 | 19 | 16 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-27 - Bajaj Hindusthan Sugar Limited has informed the Exchange regarding Appointment of Dr. Anil Rishiraj as Non- Executive, Non-Independent Director of the company w.e.f. May 29, 2026.
2026-08-27 - Bajaj Hindusthan Sugar Limited has informed the Exchange regarding Appointment of Mr. Sanoj Kumar Potdar as Non- Executive, Nominee Director (PNB) of the company w.e.f. August 28, 2026.
2026-08-27 - Bajaj Hindusthan Sugar Limited has informed the Exchange regarding Appointment of Mr. Nand Lal Kalra as Independent Director of the company w.e.f. August 28, 2026.
2026-08-27 - Bajaj Hindusthan Sugar Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 27, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-27 - Bajaj Hindusthan Sugar Limited has informed the Exchange about Gist of the proceedings of the Annual General Meeting of Bajaj Hindusthan Sugar Limited held on August 27, 2026
2026-08-14 - Bajaj Hindusthan Sugar Limited has informed the Exchange about Copy of Newspaper Publication published in Navbharat Times (Hindi Daily) and The Economic Times (English Daily) on August 14, 2026 in respect of Extracts of Unaudited Standalone & Consolidated Financial Results for the quarter ended June 30, 2026.
2026-08-13 - Bajaj Hindusthan Sugar Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-07 - Bajaj Hindusthan Sugar Limited has informed the Exchange about Copy of Newspaper Publication published in Navbharat Times (Hindi Daily) and The Economic Times (English Daily) on August 7, 2026 in respect of Extracts of Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026
2026-08-04 - Bajaj Hindusthan Sugar Limited has informed the Exchange about Newspaper advertisement published in Navbharat Times (Hindi Daily) and The Economic Times (English Daily) on August 04, 2026 in respect of the Notice of 94th Annual General Meeting of the Members of the Company scheduled to be held on Thursday, August 27, 2026.
News
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