Mawana Sugars Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Sugar: 84.6% • Distillery: 13.6% • Power: 1.8%
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
- Company has consistently been profitable over the last 5 years
- Company has been maintaining a healthy dividend payout of 42.2%
- Company has a consistent dividend-paying track record
- Company generates healthy free cash flow
- Attractively priced for its growth - PEG of 0.5
- Offers a healthy dividend yield of 2.9%
CONS
- Recent results are weak - TTM profit is down 71.4% versus prior year
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on capital employed of 11.4%
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.12x)
- Contingent liabilities are large at 95.0% of net worth
- Company has delivered a poor profit growth of -17.2% over past five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BALRAMCHIN | 692.55 | 39.50 | 14654.18 | 0.51 | 44.15 | -14.40 | 1636.79 | 6.13 | 9.29 | 7.36 |
| EIDPARRY | 720.25 | 27.57 | 12817.26 | 0.00 | 311.50 | -32.93 | 9017.52 | 3.37 | 23.60 | 8.33 |
| TRIVENI | 255.60 | 20.04 | 5632.48 | 1.08 | 3.65 | 73.81 | 1950.14 | -0.22 | 8.92 | 2.94 |
| RENUKA | 24.87 | 0.00 | 5293.55 | 0.00 | -251.50 | 4.59 | 2120.20 | 5.61 | -3.84 | -3.60 |
| BAJAJHIND | 20.95 | 43.28 | 5008.45 | 0.00 | -1847.00 | -961.49 | 11259.70 | 801.92 | 2.86 | -10.64 |
| BANARISUG | 3542.25 | 36.48 | 4441.88 | 0.35 | -10.92 | -171.57 | 172.45 | -58.81 | 9.33 | -3.00 |
| DALMIASUG | 417.25 | 14.27 | 3377.19 | 1.44 | 6.91 | — | 848.19 | -16.48 | 8.38 | 5.10 |
| AVADHSUGAR | 771.95 | 23.43 | 1545.32 | 1.30 | 2.34 | 127.81 | 7792.51 | 987.42 | 6.50 | 4.68 |
| GODAVARIB | 235.20 | 5349.60 | 1203.66 | 0.00 | -19.32 | -20.62 | 557.88 | 4.62 | 5.79 | 0.09 |
| UTTAMSUGAR | 280.65 | 12.31 | 1070.35 | 0.89 | 1.30 | -91.05 | 606.37 | -3.56 | 11.62 | 4.32 |
| DHAMPURSUG | 163.65 | 14.97 | 1052.38 | 1.22 | 60.90 | 6592.31 | 7861.70 | 961.42 | 6.63 | 3.98 |
| MAWANASUG | 135.65 | 19.27 | 530.62 | 2.95 | -23.09 | -70.53 | 415.66 | 3.78 | 7.76 | -3.99 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 326 | 381 | 326 | 322 | 387 | 382 | 334 | 343 | 401 | 429 | 367 | 374 | 416 | |
| 329 | 409 | 285 | 241 | 372 | 393 | 305 | 254 | 401 | 439 | 339 | 287 | 447 | |
| Operating Profit | -3 | -29 | 41 | 81 | 15 | -10 | 29 | 89 | -1 | -10 | 28 | 88 | -32 |
| OPM % | -1.03% | -7.51% | 12.63% | 25.26% | 3.79% | -2.73% | 8.70% | 25.91% | -0.15% | -2.36% | 7.57% | 23.43% | -7.59% |
| 1 | 26 | 0 | 0 | 1 | 0 | 64 | 5 | 1 | 0 | -14 | 11 | 1 | |
| Interest | 10 | 7 | 3 | 10 | 13 | 8 | 1 | 7 | 11 | 4 | 1 | 6 | 8 |
| Depreciation | 8 | 8 | 9 | 10 | 8 | 8 | 9 | 9 | 7 | 7 | 8 | 8 | 7 |
| Profit before Tax | -20 | -18 | 29 | 63 | -6 | -27 | 83 | 78 | -18 | -22 | 5 | 84 | -31 |
| Tax % | 23.72% | 37.61% | 39.40% | 24.89% | 21.43% | 23.92% | 12.89% | 21.40% | 25.36% | 25.39% | 28.02% | 25.28% | 25.15% |
| Net Profit | 0 | 0 | 0 | 0 | -5 | -20 | 73 | 62 | -14 | -16 | 4 | 63 | -23 |
| -3.99 | -2.92 | 4.50 | 12.04 | -1.17 | -5.16 | 18.54 | 15.77 | -3.46 | -4.12 | 1.01 | 16.06 | -5.90 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,191 | 1,344 | 1,205 | 1,172 | 1,469 | 1,478 | 1,482 | 1,355 | 1,446 | 1,571 | 1,586 | |
| 1,024 | 1,301 | 1,090 | 1,118 | 1,372 | 1,373 | 1,404 | 1,264 | 1,324 | 1,466 | 1,512 | |
| Operating Profit | 166 | 43 | 115 | 54 | 97 | 105 | 77 | 91 | 122 | 105 | 74 |
| OPM % | 13.97% | 3.18% | 9.55% | 4.58% | 6.59% | 7.10% | 5.22% | 6.69% | 8.44% | 6.67% | 4.66% |
| 358 | 27 | 11 | 8 | 114 | -3 | 2 | 28 | 70 | -2 | -2 | |
| Interest | 51 | 38 | 24 | 27 | 35 | 26 | 28 | 30 | 30 | 22 | 19 |
| Depreciation | 30 | 24 | 33 | 56 | 48 | 40 | 36 | 35 | 34 | 31 | 31 |
| Profit before Tax | 443 | 7 | 69 | -23 | 127 | 38 | 15 | 53 | 129 | 50 | 37 |
| Tax % | 19.02% | -32.76% | 41.02% | -308.21% | 25.33% | 31.00% | 13.79% | 29.02% | 15.41% | 25.51% | 25.73% |
| Net Profit | 359 | 10 | 41 | -92 | 95 | 26 | 13 | 38 | 109 | 37 | 28 |
| EPS | 0.00 | 0.00 | 0.00 | -21.19 | 18.73 | 6.69 | 3.36 | 9.62 | 27.97 | 9.48 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 44.88% | 89.38% | 41.56% | 14.30% | 42.19% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 1%
- 5 Years:
- 1%
- 3 Years:
- 2%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 47%
- 5 Years:
- -13%
- 3 Years:
- 41%
STOCK PRICE CAGR
- 10 Years:
- 9%
- 5 Years:
- 11%
- 3 Years:
- 9%
- 1 Year:
- 44%
RETURN ON EQUITY
- 10 Years:
- 7%
- 5 Years:
- 10%
- 3 Years:
- 14%
- Last Year:
- 7%
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 |
| 292 | 302 | 342 | 257 | 331 | 345 | 345 | 371 | 453 | 486 | |
| 245 | 143 | 258 | 495 | 281 | 418 | 383 | 563 | 419 | 420 | |
| Trade Payables | 430 | 544 | 675 | 593 | 657 | 186 | 203 | 152 | 135 | 116 |
| 19 | -71 | -46 | 18 | 29 | 33 | 35 | 40 | 50 | 60 | |
| Total Liabilities | 1,025 | 958 | 1,267 | 1,403 | 1,337 | 1,021 | 1,004 | 1,165 | 1,095 | 1,121 |
| 321 | 313 | 296 | 298 | 232 | 212 | 197 | 204 | 198 | 188 | |
| Capital Work in Progress | 4 | 8 | 8 | 1 | 13 | 3 | 16 | 1 | 0 | 1 |
| 0 | 0 | 15 | 13 | 10 | 4 | 3 | 3 | 0 | 0 | |
| 472 | 469 | 792 | 854 | 805 | 700 | 688 | 878 | 821 | 804 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 39 | 34 | 53 | |
| Cash & Bank | 61 | 70 | 48 | 63 | 99 | 46 | 39 | 25 | 23 | 40 |
| 167 | 97 | 109 | 174 | 179 | 56 | 62 | 16 | 19 | 35 | |
| Total Assets | 1,025 | 958 | 1,267 | 1,403 | 1,337 | 1,021 | 1,004 | 1,165 | 1,095 | 1,121 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 51 | 72 | -91 | -124 | 160 | -151 | 110 | -164 | 114 | 73 | |
| Cash from Investing | 122 | 83 | -17 | -42 | 131 | -13 | -39 | 5 | 89 | -31 |
| Cash from Financing | -157 | -127 | 94 | 195 | -245 | 107 | -76 | 143 | -206 | -25 |
| 13 | 19 | -23 | 14 | 46 | -57 | -6 | -16 | -4 | 17 |
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
2026-09-04 - Mawana Sugars Limited has informed the Exchange regarding 'Disclosure/Intimation under Regulation 30 of SEBI (LODR) Regulations 2015 - Notice u/s 65 (6) of the Central Goods and Services Tax Act, 2017 (CGST Act, 2017)'.
2026-09-03 - Mawana Sugars Limited has informed the Exchange regarding 'Intimation under Regulation 30 of the SEBI (Listing Obligations and DisclosureRequirements) Regulations, 2015 - Approval of Scheme of Amalgamation by theHon'ble National Company Law Tribunal'.
2026-09-03 - Mawana Sugars Limited has informed the Exchange regarding 'Intimation under Regulation 30 of the Securities and Exchange Board of India(Listing Obligations and Disclosure Requirements) Regulations, 2015 -Pronouncement of Order by Hon'ble National Company Law Tribunal'.
2026-08-25 - Significant movement in price has been observed in Mawana Sugars Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Mawana Sugars Limited has submitted their response.
2026-08-24 - Significant movement in price has been observed in Mawana Sugars Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written to the company. The response from the company is awaited.
2026-08-19 - Mawana Sugars Limited has informed the Exchange about Copy of Newspaper Publication for the Notice of Postal Ballot
2026-08-18 - Mawana Sugars Limited has informed the Exchange regarding Notice of Postal Ballot
2026-08-10 - Mawana Sugars Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-08 - Mawana Sugars Limited has informed the Exchange regarding Appointment of Mr Satish Agrawal as Independent Director of the company w.e.f. November 03, 2026.
News
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