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SBEC Sugar Ltd (532102)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532102 NSE: Sugar | Small Cap | SBEC Sugar Share Price

₹54.59 4.96 (9.99%)

As on 05-Jun'26 16:59

SBEC Sugar Ltd (532102)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532102 NSE: Sugar | Small Cap | SBEC Sugar Share Price

₹54.59 4.96 (9.99%)

As on 05-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹237 Cr.
Current Price
₹54.6
52-Week Low / High
₹27 / 65
TTM EPS
₹-13.2
TTM Sales
₹535 Cr.
Book Value per Share
₹-26
P/E Ratio
0.00
Industry PE
24.5
Price to Book (P/B)
-1.91
Higher than its 5-year historical median
Price to Sales (P/S)
0.44
Higher than its 5-year historical median
EV/EBITDA
-108.22
Lower than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
0.00%
Underperforms industry median
Return on Capital Employed (ROCE)
17.86%
Outperforms industry median
Return on Assets (ROA)
-1.66%
Operating Profit Margin
6.8%
Net Profit Margin
-1.9%
Gross Profit Margin
0.9%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-3.54%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-6.56%
Net Profit Growth (1 Year)
-
-353.55%
Asset Quality
Promoter Holding
65.12%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹-172 Cr.
Equity
₹47.7 Cr.
Face Value
₹10
All Time Low / High
₹3.34 / 94.55

SBEC Sugar stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Overvalued

Price Trend

Weak
Q.1 Is SBEC Sugar Ltd a good quality company?
SBEC Sugar Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does SBEC Sugar Ltd performance compare with that of its Peers?
Q.1 Revenue growth of SBEC Sugar Ltd vs industry peers?
SBEC Sugar Ltd revenue CAGR is 5.69%, compared to the industry median CAGR of 2.83%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of SBEC Sugar Ltd?
Promoters hold 65.12% of the SBEC Sugar Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of SBEC Sugar Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 12.3% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
SBEC Sugar Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 0%-51.6%-73.8%-31.5%9.1%-1.6%3.1%3.4%26.4%17.9%-
Value Creation
Index
NA-4.7-6.3NA-0.4NANANA0.9NA-

Growth Parameters

Sales 390300469401471569602647644621535
Sales YoY Gr.--23.1%56.6%-14.5%17.4%20.8%5.8%7.4%-0.5%-3.5%-
Adj EPS 1-7.9-17.7-101-4.4-2.2-2.71-2.5-13.2
YoY Gr.--884.2%NANANA-539.6%NANANA-352%-
BVPS (₹) -16.7257.3-2.7-1.7-6.2-8.5-11.2-10.3-12.8-26
Adj Net
Profit
4.8-37.8-84.5-47.64.8-21.1-10.7-13.14.7-11.8-63
Cash Flow from Ops. 37.9-16.148.5-19637.270.792.973.3-6.261.7-
Debt/CF from Ops. 0.9-2.70.2-1.26.62.91.61.3-33.43-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 5.3%5.7%1%-3.5%
Adj EPS -210.5%-219.6%NA-352%
BVPSNANANANA
Share Price 17.3% 26.2% 16.6% 9.9%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
-5.9-190.1-109.9-435.3-46.2113.130.527.8-9.121.467.9
Op. Profit
Mgn %
2.1-4.1-12.6-6.28.32.53.73.176.8-1.3
Net Profit
Mgn %
1.2-12.6-18-11.91-3.7-1.8-20.7-1.9-11.7
Debt to
Equity
-0.40.40.3-18.6-30.3-7-3.6-1.8-4.2-3-
Working Cap
Days
24631819424628927225822822725246
Cash Conv.
Cycle
-328-247-203-163-87-125-134-168-146-134-124

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales390300469401471569602647644621
Operating Expenses + 382312528426432555580627599579
Manufacturing Costs19202529293547454344
Material Costs347272481375375493500551517500
Employee Cost 10111314151516191919
Other Costs 7998121117122017
Operating Profit 8-12-59-25391422204542
Operating Profit Margin (%) 2.0%-4.1%-12.6%-6.2%8.3%2.5%3.7%3.1%7.0%6.8%
Other Income + 6010021110
Exceptional Items 0000000000
Interest 5885161815152237
Depreciation 3181818181919191917
Profit Before Tax 5-38-84-475-21-11-135-12
Tax 0000000000
Profit After Tax 5-38-84-475-21-11-135-12
PAT Margin (%) 1.3%-12.6%-18.0%-11.8%1.1%-3.7%-1.8%-2.0%0.7%-1.9%
Adjusted EPS (₹)1.1-7.9-17.7-10.01.0-4.4-2.2-2.71.0-2.5
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of SBEC Sugar - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + -7911935-13-8-29-41-53-49-61
Share Capital 48484848484848484848
Reserves -12771-13-61-56-77-88-101-97-109
Debt +2543102111981489250181164
Long Term Debt23711751711085573838
Short Term Debt23693627403743142126
Minority Interest0000000000
Trade Payables339380423301400446507511493485
Others Liabilities 1721247980891029886123
Total Liabilities 301563492578670654660606711712

Fixed Assets

Net Fixed Assets +40260244226220208194202191181
Gross Block119356358358370376381406405412
Accumulated Depreciation7997114132150169187204214231
CWIP 00032218461
Investments 17171717171717179292
Inventories5411282133234220243216252266
Trade Receivables15131178208121620
Cash Equivalents 16129634411
Others Assets 173154126183182185176152153151
Total Assets 301563492578670654660606711712

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 38-1649-19637719373-662
PBT 5-38-84-475-21-11-135-12
Adjustment 9262623343533334154
Changes in Working Capital 23-4107-171-2577153-5220
Tax Paid -000-0000000
Cash Flow From Investing Activity + -011-2-3-11-6-20-12-86-2
Capex -0-1-2-3-11-6-20-13-11-2
Net Investments 00000000-750
Others 01200000100
Cash Flow From Financing Activity + -3810-41196-28-68-72-6190-60
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -6000000031-0
Interest Paid -5-8-8-5-16-18-15-15-22-37
Dividend Paid 0000000000
Others -2717-33201-12-50-57-4580-23
Net Cash Flow -156-3-2-410-2-1

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)N/A-190.45-109.96N/AN/AN/AN/AN/AN/AN/A
ROCE (%)N/A-51.59-73.76N/AN/AN/AN/AN/AN/AN/A
Asset Turnover Ratio1.220.690.890.750.750.860.921.020.980.87
PAT to CFO Conversion(x)7.6N/AN/AN/A7.4N/AN/AN/A-1.2N/A
Working Capital Days
Receivable Days11.50179.308.1069.108.505.607.9010.70
Inventory Days80.90101.1075.5097.80142.20145.70140.40129.40132.40152
Payable Days376.80481.90304.30352.40340.50313.10347.70337354.40357.50

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

SBEC Sugar Ltd FAQs

The current trading price of SBEC Sugar on 05-Jun-2026 16:59 is ₹54.59.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 04-Jun-2026 the market cap of SBEC Sugar stood at ₹236.5 Cr

The latest P/E ratio of SBEC Sugar as of 04-Jun-2026 is 0.00.

The latest P/B ratio of SBEC Sugar as of 04-Jun-2026 is -1.91.

The 52-week high of SBEC Sugar is ₹65.47 and the 52-week low is ₹26.85.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of SBEC Sugar is ₹535 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that SBEC Sugar Ltd is a average quality company.

The key valuation ratios of SBEC Sugar Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of SBEC Sugar Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About SBEC Sugar Ltd

Modi Sugar represents the sugar business of the renowned Umesh Modi Group of India, a leading conglomerate specialising in pharmaceuticals, colours and cosmetics, iron and steel, automobiles, writing instruments, aviation, telecom, rubber, distillery and sugar. Sugar has been the oldest business of the Group since 1932.

The group has two sugar plants, Modi Sugar Mills (established in 1932) and SBEC Sugar. Building upon past experience and incorporating the most modern technology, led to the formation of another plant named as, SBEC Sugar Ltd. (SBEC). Located at Baraut in Uttar Pradesh, SBEC is promoted by Umesh Modi Group and SBEC Systems Ltd., UK.

SBEC Sugar Limited was incorporated on May 3, 1991 in the name and style of Modi Sugar Limited under the Companies Act, 1956. It was originally promoted by UK Modi and Associates to set up a sugar project of 2,500 TCD.

SBEC has access to cutting-edge technology in sugar manufacturing while the promoter company SBEC System Ltd. is a global player in project design, engineering and consultancy.

SBEC Sugar has commenced production of high quality white crystal sugar at its plant located in the heart of the sugar-cane belt of Western UP. The unit has an installed capacity of 60,000 tonnes of sugar per annum which will increase to 100,000 tonnes per annum in the second year of operation. The plant proposes to meet its entire power needs through captive generation. It incorporates a technologically intensive effluent treatment and disposal system, conforming to the most stringent environmental norms. In a trailblazing effort, the company is marketing its high quality ‘branded’ sugar in an array of innovative packaging solutions. This is supported by an extensive national multi-media advertising campaign aimed at creating rapid product awareness and a strong brand identity in an effort to offer value added products to a very discerning and demanding consumers of today.

Product range of the company includes:

Engaged in manufacturing & marketing of sugar, pharmaceutical grade sugar and other speciality sugar products,e.g coffee sugar, half spoon low calorie sugar, quick dissolve sugar, flavoured sugar for tea, icing sugar for baking etc. The above products are available under the brand ‘Originale’ & ‘Modi’.

Achievements/ recognition:

  • An ISO 9001:2000 certified company
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