SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Dalmia Bharat Sugar And Industries Ltd (DALMIASUG)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500097 NSE: DALMIASUG Sugar | Small Cap | Dalmia Bharat Sugar Share Price

₹335.25 -0.95 (-0.28%)

As on 02-Jul'26 16:59

Dalmia Bharat Sugar And Industries Ltd (DALMIASUG)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500097 NSE: DALMIASUG Sugar | Small Cap | Dalmia Bharat Sugar Share Price

₹335.25 -0.95 (-0.28%)

As on 02-Jul'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹2,713 Cr.
Current Price
₹335.3
52-Week Low / High
₹263 / 429
TTM EPS
₹29.4
TTM Sales
₹3,618 Cr.
Book Value per Share
₹400.8
P/E Ratio
11.41
In line with its 5-year historical median
Industry PE
25.9
Price to Book (P/B)
0.84
Lower than its 5-year historical median
Price to Sales (P/S)
0.75
Lower than its 5-year historical median
EV/EBITDA
7.94
Higher than its 5-year historical median
Dividend Yield
1.79%
Profitability Efficiency
Return on Equity (ROE)
7.54%
Outperforms industry median
Return on Capital Employed (ROCE)
8.45%
Underperforms industry median
Return on Assets (ROA)
4.45%
Operating Profit Margin
11.8%
Net Profit Margin
6.57%
Gross Profit Margin
12.7%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-2.87%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-10.71%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-34.94%
Asset Quality
Promoter Holding
74.91%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹3,228 Cr.
Equity
₹16.2 Cr.
Face Value
₹2
All Time Low / High
₹11.20 / 620.00

Dalmia Bharat Sugar And Industries stock performance

Key Ratios
mw4me loader

Check Before You Invest

Quality

Locked
Login to view analysis.

Valuation

Locked
Login to view analysis.

Price Trend

Locked
Login to view analysis.
Q.1 Is Dalmia Bharat Sugar And Industries Ltd a good quality company?
Dalmia Bharat Sugar And Industries 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 Dalmia Bharat Sugar And Industries Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Dalmia Bharat Sugar And Industries Ltd vs industry peers?
Dalmia Bharat Sugar And Industries Ltd revenue CAGR is 12.16%, 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 Dalmia Bharat Sugar And Industries Ltd?
Promoters hold 74.91% of the Dalmia Bharat Sugar And Industries Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Dalmia Bharat Sugar And Industries Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 14.1% based on the current price.

10 Year X-Ray : Login to view analysis.

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.
Dalmia Bharat Sugar And Industries 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'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 16.9%9.3%11.3%12.4%14.5%13.9%12.3%11%9.6%8.5%-
Value Creation
Index
0.2-0.3-0.2-0.10.00.0-0.1-0.2-0.3-0.4-

Growth Parameters

Sales 1,6862,2442,0192,1112,6863,0073,2522,8993,7253,6183,618
Sales YoY Gr.-33.1%-10.1%4.6%27.2%12%8.2%-10.9%28.5%-2.9%-
Adj EPS 24.316.422.224.333.237.430.829.945.128.629.4
YoY Gr.--32.4%35.1%9.7%36.6%12.6%-17.6%-3%50.6%-36.5%-
BVPS (₹) 154.4179191.5198.7258.2291.4334.2362.2378.4400.7400.8
Adj Net
Profit
197133179197269303250242365232238
Cash Flow from Ops. 75.9659-220209346567583-239410210-
Debt/CF from Ops. 161.2-4.76.12.81.40.8-62.68.3-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 8.9%6.1%3.6%-2.9%
Adj EPS 1.8%-3%-2.5%-36.5%
BVPS11.2%9.2%6.2%5.9%
Share Price 8.2% -6.9% -3.5% -13.6%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
22.39.91212.514.613.69.98.612.27.37.3
Op. Profit
Mgn %
23.410.411.7161814.813.714.212.911.811.7
Net Profit
Mgn %
11.75.98.99.31010.17.78.49.86.46.6
Debt to
Equity
10.50.70.80.50.40.20.50.30.50.1
Working Cap
Days
25819024529724821618524421722792
Cash Conv.
Cycle
1689511716815013611316014716451

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales1,6862,2442,0192,1112,6863,0073,2522,8993,7253,618
Operating Expenses + 1,3082,0111,7811,7742,2132,5642,8162,4883,2473,192
Manufacturing Costs110124131136119132150182145163
Material Costs1,0141,7051,4081,4071,8292,1232,3221,9662,7172,647
Employee Cost 108109119134143165187202214220
Other Costs 767412397123144156138171162
Operating Profit 378234237337473443437412477426
Operating Profit Margin (%) 22.4%10.4%11.7%15.9%17.6%14.7%13.4%14.2%12.8%11.8%
Other Income + 243787615386761296194
Exceptional Items 0000000000
Interest 102696988623538506362
Depreciation 565452579695121127131136
Profit Before Tax 244148204252369399353363345322
Tax 57141654989110591-2084
Profit After Tax 187134187198270308248272366238
PAT Margin (%) 11.1%6.0%9.3%9.4%10.1%10.2%7.6%9.4%9.8%6.6%
Adjusted EPS (₹)23.116.623.224.533.438.030.733.745.229.4
Dividend Payout Ratio (%)8.70%0%6.90%8.20%9%10.50%13%14.90%13.30%20.40%

Valuation of Dalmia Bharat Sugar - Standalone

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 1,2501,4491,5501,6092,0902,3592,7052,9323,0633,244
Share Capital 16161616161616161616
Reserves 1,2341,4331,5341,5922,0742,3432,6892,9163,0473,228
Debt +1,1217219781,1939167643801,3819791,667
Long Term Debt396376461424227337326338514459
Short Term Debt725345517768689427541,0434651,207
Minority Interest0000000000
Trade Payables173429420394268251208383196145
Others Liabilities 379259347465563659786717656733
Total Liabilities 2,9232,8573,2953,6603,8374,0324,0795,4134,8955,789

Fixed Assets

Net Fixed Assets +1,2801,2931,3451,3531,3081,5311,6521,8471,6571,753
Gross Block1,9802,0472,1492,2382,2882,5632,8043,2693,1083,339
Accumulated Depreciation7007548058859801,0321,1521,4231,4511,586
CWIP 2711627592113318615
Investments 2754352884475635947366295831,348
Inventories1,0217501,0951,3291,3751,2361,0371,7731,6471,693
Trade Receivables11176204170115156149120121180
Cash Equivalents 585928677910469530311322
Others Assets 176236324288368353414382390478
Total Assets 2,9232,8573,2953,6603,8374,0324,0795,4134,8955,789

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 76659-220209346567583-239410210
PBT 244148204252367380356363345322
Adjustment 14195104951179112194153130
Changes in Working Capital -263461-485-94-131153229-615-88-172
Tax Paid -46-45-44-44-7-57-123-81-1-70
Cash Flow From Investing Activity + -65-131-30-32936-327-192-257-113-775
Capex -71-72-107-90-72-333-208-385-143-59
Net Investments 3-6673-247107301059-766
Others 37481316232249
Cash Flow From Financing Activity + 2-528219145-364-217-419902-480596
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -242-65100-18-198111-1212176-54
Interest Paid -91-63-53-52-45-29-23-36-47-51
Dividend Paid 0-160-290-49-32-38-47-49
Others 335-383172245-122-250-353964-562750
Net Cash Flow 131-31251823-29405-18231

Financial Ratio

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)21.269.9412.512.5414.6113.849.819.6712.197.54
ROCE (%)16.879.2711.3212.4414.5113.9312.34119.648.45
Asset Turnover Ratio0.710.790.660.610.720.760.80.610.720.68
PAT to CFO Conversion(x)0.414.92-1.181.061.281.842.35-0.881.120.88
Working Capital Days
Receivable Days22.401525.3032.3019.4016.5017.1016.9011.8015.20
Inventory Days200.30142166.80209.60183.80158.40127.60176.90167.60168.50
Payable Days74.6064.50110105.6066.1044.6036.1054.9038.9023.60

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

Dalmia Bharat Sugar And Industries Ltd FAQs

The current trading price of Dalmia Bharat Sugar on 02-Jul-2026 16:59 is ₹335.2.

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 01-Jul-2026 the market cap of Dalmia Bharat Sugar stood at ₹2,713.5 Cr

The latest P/E ratio of Dalmia Bharat Sugar as of 01-Jul-2026 is 11.41.

The latest P/B ratio of Dalmia Bharat Sugar as of 01-Jul-2026 is 0.84.

The 52-week high of Dalmia Bharat Sugar is ₹429.0 and the 52-week low is ₹262.8.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Dalmia Bharat Sugar is ₹3,618 ( Cr.) .

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

The key valuation ratios of Dalmia Bharat Sugar And Industries Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Dalmia Bharat Sugar And Industries Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Dalmia Bharat Sugar And Industries Ltd

Dalmia Bharat Sugar and Industries Limited has been one of the fastest-growing success stories in the Indian sugar industry. The company’s foray into the sugar business was made in the mid-90s and the first unit of 2500 TCD was set up at Ramgarh, a village in the Sitapur district of Uttar Pradesh in 1994.

During 2006-2007, the company embarked on a major growth path by setting up two greenfield plants at Jawaharpur (Dist. Sitapur, U.P.) and Nigohi (Dist. Shahjahanpur, U.P.) and expanding existing facilities at the Ramgarh unit.

It is now a fully integrated player with 120 MW of co-generation capacity and a distillery of 255 KLPD along with incineration boilers. It also has facilities for processing of raw sugar.

These state-of-the-art facilities serve as a role model for the sugar industry since the company has achieved excellence in plant operational metrics and holds a technological leadership position in the industry.

Dalmia Bharat Sugar and Industries Limited has robust quality systems and has also embarked upon 5S and TPM initiatives to create world-class systems and processes. After having received wide acceptance for its world-class systems, it now produces high-quality sugar which has found wide acceptance in markets in U.P. and Eastern India.

The company is a preferred sugar supplier to brand-enhancing institutional giants such as Coca-Cola, PepsiCo, Mondelez, Perfetti, Britannia, Wal-Mart India, Dabur, D-Mart, India Glycols Allied Blenders & Distillers, United Breweries, Carlsberg, SABMiller and many others in the alcohol segment. It also exports to various locations like Indonesia, Malaysia, Bangladesh, Sri Lanka, Nepal, Bhutan, Middle East, Mediterranean countries, East Africa etc.

The team has taken up several initiatives to drive sustainable growth through water conservation and alternative energy solutions. This has led to lasting competitive advantage and efficiencies in all aspects of operations. It has also taken on a proactive role at the industry level and has been instrumental in driving many policies and regulatory changes in the sugar, ethanol and renewable energy sector.

It is under the leadership of Gautam Dalmia that the sugar business has consistently been performing beyond expectations. He has been instrumental in driving Dalmia Sugar’s growth across the country by taking the business at the forefront of technological and operational excellence.

Business area of the company

The company is mainly engaged in manufacturing of sugar, generation of power, manufacturing of Industrial alcohol and manufacturing of refractory products.

Products segments

Sugar: Dalmia Bharat Group’s foray in to the sugar business was made in the mid-nineties. It has at present five sugar units, of which three are located in the largest sugar producing state of Uttar Pradesh and two are in Maharashtra. It is the only company in India to have manufacturing facilities in two non-contiguous states in India.

Dalmia Sanjeevani Hand Sanitiser: To meet the growing demand of hand sanitisers due to the ongoing pandemic of COVID-19, DBSIL is manufacturing alcohol-based hand sanitisers as per the WHO recommended formulation. Dalmia Sanjeevani Hand Sanitiser is an alcohol-based sanitiser containing 80% ethyl alcohol content which is very effective against viruses.

Dalmia Utsav - A Range of Superior Quality Cane Sugar: With a vision to expand its reach to the consumers, Dalmia Bharat Sugar and Industries Limited (DBSIL) has  launched its packaged sugar under the brand name “Dalmia Utsav”.‘Dalmia Utsav’ signifies “Celebrating Purity” and DBSIL aims to provide high-quality sugar to consumers by using a world-class and eco-friendly production process in line with Dalmia Bharat Group’s commitment towards Quality and Sustainability.

Power Business: Dalmia Sugar and Industries Limited has an integrated business model to de-risk itself from the cyclical nature of the sugar industry. Bagasse, a residue left after the extraction of juice from sugarcane, has high calorific value and is used in the generation of electricity, substituting the conventional thermal alternatives and eliminating the emission of greenhouse gases.

Ethanol: Molasses is distilled to produce different kinds of alcohol and the company produces various types of alcohol i.e. Rectified spirit (RS), Extra neutral alcohol (ENA)/Hydrous Alcohol, Ethanol or Anhydrous Ethanol and Denatured spirit (SDS).

Organic Manure: The main customers of organic manure for DBSIL are farmers and tea estates. Its bio-composting facility can produce about 20,000 MT of organic manure per annum. It has an in-house availability of press mud, which is key raw material, from its own sugar factories. This allows for smooth production of good quality organic manure.

Milestones

  • 1994: First sugar plant commissioned in Ramgarh (2,500 TCD capacity).
  • 2000: Ramgarh plant capacity increased to 5,000 TCD.
  • 2007: Jawaharpur and Nigohi sugar units commissioned. Commissioned co-generation plants (79MW) at Ramgarh, Nigohi and Jawaharpur. Commissioned 80 KLPD distillery in Jawaharpur.
  • 2012: Acquired the Kolhapur unit in September 2012.
  • 2015: Commenced commercial production at Ninaidevi in November 2015.
  • 2016: Commissioned a distillery in Kolhapur.
  • 2019: Increased Jawaharpur distillery capacity to 120KLPD and commissioned the Nigohi distillery (60KLPD). Aggregated the Sangli and Kolhapur unit capacities at 10,700 TCD.
  • 2020: Launched a sugar refinery of 1200 TPD at the Nigohi unit.
  • 2020: Distillery capacity at Nigohi expanded to 110 KLPD.
  • 2022: Brownfield projects successfully and punctually commissioned including expansion of the sugar capacity at Jawaharpur and Nigohi units along with a refinery at Jawaharpur despite the COVID pandemic.
  • 2022: Jawaharpur and Kolhapur distilleries expanded to 220 KLPD and 120 KLPD, respectively.
  • 2022: Ramgarh distillery of 140 KLPD commissioned.
To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through: