Dalmia Bharat Sugar And Industries Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Sugar: 70.7% • Distillery: 29.1% • Others: 0.2%
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
- Working capital cycle has improved - days down from 129 to 89
- Company has a consistent dividend-paying track record
- Company comfortably covers its interest (6.1x coverage)
CONS
- Recent results are weak - TTM profit is down 56.4% versus prior year
- Receivables are growing faster than sales - a possible quality concern
- A large part of profit comes from other income (29.1% of PBT)
- Company has a low return on capital employed of 9.7%
- Company has a low return on equity of 9.8% over last 3 years
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.43x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BALRAMCHIN | 699.20 | 39.87 | 14794.90 | 0.50 | 44.15 | -14.40 | 1636.79 | 6.13 | 9.29 | 7.36 |
| EIDPARRY | 756.00 | 28.94 | 13453.45 | 0.00 | 311.50 | -32.93 | 9017.52 | 3.37 | 23.60 | 8.33 |
| TRIVENI | 268.90 | 21.08 | 5925.56 | 1.02 | 3.65 | 73.81 | 1950.14 | -0.22 | 8.92 | 2.94 |
| RENUKA | 24.36 | 0.00 | 5185.00 | 0.00 | -251.50 | 4.59 | 2120.20 | 5.61 | -3.84 | -3.60 |
| BAJAJHIND | 21.37 | 44.14 | 5108.85 | 0.00 | -1847.00 | -961.49 | 11259.70 | 801.92 | 2.86 | -10.64 |
| BANARISUG | 3682.15 | 37.92 | 4617.31 | 0.34 | -10.92 | -171.57 | 172.45 | -58.81 | 9.33 | -3.00 |
| DALMIASUG | 432.85 | 14.80 | 3503.46 | 1.39 | 6.91 | — | 848.19 | -16.48 | 8.38 | 5.10 |
| AVADHSUGAR | 821.70 | 24.94 | 1644.91 | 1.22 | 0.23 | 102.78 | 779.25 | 8.74 | 6.50 | 4.68 |
| GODAVARIB | 238.95 | 5434.89 | 1222.85 | 0.00 | -19.32 | -20.62 | 557.88 | 4.62 | 5.79 | 0.09 |
| DHAMPURSUG | 170.85 | 15.63 | 1098.68 | 1.17 | 60.90 | 6592.31 | 7861.70 | 961.42 | 6.63 | 3.98 |
| UTTAMSUGAR | 282.65 | 12.40 | 1077.97 | 0.88 | 1.30 | -91.05 | 606.37 | -3.56 | 11.62 | 4.32 |
| DWARKESH | 46.73 | 59.76 | 865.91 | 0.21 | -257.31 | -2642.01 | 3581.31 | 783.26 | 4.64 | -7.18 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 834 | 732 | 584 | 750 | 960 | 920 | 838 | 1,016 | 943 | 989 | 698 | 991 | 848 | |
| 715 | 666 | 474 | 631 | 849 | 853 | 736 | 818 | 857 | 932 | 588 | 820 | 864 | |
| Operating Profit | 118 | 65 | 109 | 119 | 111 | 67 | 101 | 197 | 86 | 56 | 109 | 171 | -16 |
| OPM % | 14.21% | 8.95% | 18.72% | 15.83% | 11.58% | 7.27% | 12.08% | 19.40% | 9.08% | 5.69% | 15.69% | 17.25% | -1.89% |
| 9 | 56 | 24 | 37 | 16 | 13 | 19 | 16 | 14 | 20 | 29 | 34 | 28 | |
| Interest | 10 | 16 | 8 | 16 | 26 | 12 | 9 | 16 | 16 | 10 | 12 | 24 | 26 |
| Depreciation | 31 | 31 | 32 | 33 | 26 | 32 | 35 | 38 | 32 | 34 | 33 | 36 | 34 |
| Profit before Tax | 87 | 74 | 93 | 107 | 75 | 36 | 76 | 160 | 51 | 31 | 93 | 145 | 11 |
| Tax % | 29.66% | 25.83% | 33.10% | 14.29% | 27.03% | -47.96% | 21.51% | -24.61% | 25.44% | 25.40% | 25.11% | 27.07% | 25.41% |
| Net Profit | 61 | 55 | 62 | 91 | 55 | 53 | 59 | 199 | 38 | 23 | 70 | 105 | 9 |
| 7.58 | 6.78 | 7.67 | 11.28 | 6.76 | 6.59 | 7.33 | 24.55 | 4.74 | 2.88 | 8.62 | 13.03 | 1.06 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,686 | 2,244 | 2,019 | 2,111 | 2,686 | 3,007 | 3,252 | 2,899 | 3,725 | 3,618 | 3,525 | |
| 1,308 | 2,011 | 1,781 | 1,774 | 2,213 | 2,564 | 2,816 | 2,488 | 3,247 | 3,192 | 3,205 | |
| Operating Profit | 378 | 234 | 237 | 337 | 473 | 443 | 437 | 412 | 477 | 426 | 321 |
| OPM % | 22.44% | 10.41% | 11.74% | 15.95% | 17.60% | 14.72% | 13.42% | 14.20% | 12.82% | 11.78% | 9.09% |
| 24 | 37 | 87 | 61 | 53 | 86 | 76 | 129 | 61 | 94 | 110 | |
| Interest | 102 | 69 | 69 | 88 | 62 | 35 | 38 | 50 | 63 | 62 | 72 |
| Depreciation | 56 | 54 | 52 | 57 | 96 | 95 | 121 | 127 | 131 | 136 | 138 |
| Profit before Tax | 244 | 148 | 204 | 252 | 369 | 399 | 353 | 363 | 345 | 322 | 281 |
| Tax % | 23.48% | 9.31% | 8.06% | 21.41% | 26.68% | 22.81% | 29.69% | 25.02% | -5.87% | 26.07% | 26.16% |
| Net Profit | 187 | 134 | 187 | 198 | 270 | 308 | 248 | 272 | 366 | 238 | 207 |
| EPS | 23.08 | 16.57 | 23.15 | 24.46 | 33.29 | 36.49 | 30.90 | 33.66 | 45.15 | 29.38 | — |
| Dividend Payout % | 8.67% | 0.00% | 6.91% | 8.18% | 8.99% | 10.52% | 13.04% | 14.85% | 13.29% | 20.42% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 12%
- 5 Years:
- 6%
- 3 Years:
- 4%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 15%
- 5 Years:
- -3%
- 3 Years:
- -1%
STOCK PRICE CAGR
- 10 Years:
- 15%
- 5 Years:
- 1%
- 3 Years:
- -1%
- 1 Year:
- 14%
RETURN ON EQUITY
- 10 Years:
- 12%
- 5 Years:
- 11%
- 3 Years:
- 10%
- Last Year:
- 8%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 |
| 1,234 | 1,433 | 1,534 | 1,592 | 2,074 | 2,343 | 2,689 | 2,916 | 3,047 | 3,228 | |
| 1,230 | 785 | 1,057 | 1,293 | 970 | 826 | 456 | 1,382 | 979 | 1,667 | |
| Trade Payables | 173 | 429 | 420 | 394 | 268 | 251 | 208 | 383 | 196 | 145 |
| 270 | 195 | 268 | 364 | 509 | 596 | 710 | 716 | 656 | 733 | |
| Total Liabilities | 2,923 | 2,857 | 3,295 | 3,660 | 3,837 | 4,032 | 4,079 | 5,413 | 4,895 | 5,789 |
| 1,280 | 1,293 | 1,316 | 1,353 | 1,308 | 1,531 | 1,652 | 1,847 | 1,657 | 1,753 | |
| Capital Work in Progress | 2 | 7 | 11 | 6 | 27 | 59 | 21 | 133 | 186 | 15 |
| 275 | 435 | 288 | 447 | 563 | 594 | 736 | 629 | 583 | 1,348 | |
| 1,021 | 750 | 1,095 | 1,329 | 1,375 | 1,236 | 1,037 | 1,773 | 1,647 | 1,693 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 120 | 121 | 180 | |
| Cash & Bank | 58 | 59 | 28 | 67 | 79 | 104 | 69 | 530 | 311 | 322 |
| 287 | 313 | 556 | 457 | 484 | 508 | 563 | 382 | 390 | 478 | |
| Total Assets | 2,923 | 2,857 | 3,295 | 3,660 | 3,837 | 4,032 | 4,079 | 5,413 | 4,895 | 5,789 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 122 | 704 | -177 | 254 | 353 | 624 | 705 | -239 | 410 | 210 | |
| Cash from Investing | -65 | -131 | -30 | -329 | 36 | -327 | -192 | -257 | -113 | -775 |
| Cash from Financing | 2 | -528 | 219 | 145 | -364 | -217 | -419 | 902 | -480 | 596 |
| 13 | 1 | -31 | 25 | 18 | 23 | -29 | 405 | -182 | 31 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| 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
2026-08-10 - Dalmia Bharat Sugar and Industries Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-07 - Dalmia Bharat Sugar and Industries Limited has informed the Exchange regarding a press release dated August 07, 2026, titled "Press Release".
2026-08-07 - Dalmia Bharat Sugar and Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-14 - Dalmia Bharat Sugar and Industries Limited has informed the Exchange regarding a press release dated July 14, 2026, titled "Press Release".
2026-07-14 - Dalmia Bharat Sugar and Industries Limited has informed the Exchange about change in Management
2026-07-14 - Dalmia Bharat Sugar and Industries Limited has informed the Exchange about General Updates
2026-07-14 - Dalmia Bharat Sugar and Industries Limited has informed the Exchange regarding Outcome of Board Meeting held on July 14, 2026.
2026-07-10 - Dalmia Bharat Sugar and Industries Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on July 10, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.
2026-07-10 - Dalmia Bharat Sugar and Industries Limited has informed the Exchange about Shareholders meeting
News
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