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Davangere Sugar Company Ltd (DAVANGERE)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543267 NSE: DAVANGERE Sugar | Small Cap | Davangere Sugar Co Share Price

₹1.99 0.02 (1.02%)

As on 07-Sep'26 10:25

Davangere Sugar Company Ltd (DAVANGERE)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543267 NSE: DAVANGERE Sugar | Small Cap | Davangere Sugar Co Share Price

₹1.99 0.02 (1.02%)

As on 07-Sep'26 10:25

Key Metrics
Valuation Multiples
Market Cap
₹334 Cr.
Current Price
₹2
52-Week Low / High
₹2 / 5
TTM EPS
₹0.1
TTM Sales
₹249 Cr.
Book Value per Share
₹2.2
P/E Ratio
41.04
Lower than its 5-year historical median
Industry PE
27.1
Price to Book (P/B)
0.88
Lower than its 5-year historical median
Price to Sales (P/S)
1.34
Lower than its 5-year historical median
EV/EBITDA
11.38
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
3.12%
Underperforms industry median
Return on Capital Employed (ROCE)
7.13%
Underperforms industry median
Return on Assets (ROA)
1.08%
Operating Profit Margin
20.3%
Net Profit Margin
3.56%
Gross Profit Margin
9.9%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
11.06%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-6.96%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-22.21%
Asset Quality
Promoter Holding
41.63%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹208 Cr.
Equity
₹169.6 Cr.
Face Value
₹1
All Time Low / High
₹1.21 / 11.62

Davangere Sugar Company stock performance

Key Ratios
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Valuation

Undervalued

Price Trend

Weak
Q.1 Is Davangere Sugar Company Ltd a good quality company?
Davangere Sugar Company Ltd is a weak quality company, based on a inconsistent 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 Davangere Sugar Company Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Davangere Sugar Company Ltd vs industry peers?
Davangere Sugar Company Ltd revenue CAGR is 10.12%, compared to the industry median CAGR of 3.88%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Davangere Sugar Company Ltd?
Promoters hold 41.63% of the Davangere Sugar Company Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Davangere Sugar Company Ltd over the last decade?
Over the last 5 year(s), the stock has delivered a CAGR of 7.07% 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.
Davangere Sugar Company Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 6.1%3.4%10.1%8.1%5.4%5.8%9.8%9.4%9%7.1%-
Value Creation
Index
-0.6-0.8-0.3-0.4-0.6-0.6-0.3-0.3-0.4-0.5-

Growth Parameters

Sales 17363.7114203147124280217215239249
Sales YoY Gr.--63.2%78.5%78.6%-27.3%-15.8%125.3%-22.7%-0.7%11.1%-
Adj EPS -0-0.20.1000.10.10.10.10.10.1
YoY Gr.-NANA-40%33.3%125%44.4%0%-15.4%-45.5%-
BVPS (₹) 1.91.71.43.83.83.91.61.922.52.2
Adj Net
Profit
-1.7-8.53.12.22.45.713.112.210.98.58
Cash Flow from Ops. 68.56.1-30.559.45.5-68.180.72.5-4.6-47.1-
Debt/CF from Ops. 1.519.6-4.9224-3.83106.7-59.2-5.3-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 3.6%10.1%-5.2%11.1%
Adj EPS NA8.5%-22.7%-45.5%
BVPS3%-8.5%14.8%21.9%
Share Price - 7.3% -42.8% -50%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
-1.7-9.23.51.312.34.63.83.122.1
Op. Profit
Mgn %
13.4-3.827.416.319.227.719.920.924.220.319.4
Net Profit
Mgn %
-1-13.42.81.11.64.64.75.75.13.63.4
Debt to
Equity
1.11.31.60.50.511.61.41.40.7-
Working Cap
Days
287706540323389535297467594669317
Cash Conv.
Cycle
163428304160175327155172216281173

Valuation of Davangere Sugar Co - 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!

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 (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales17364114203147124280217215239
Operating Expenses + 150668217011990224171163190
Manufacturing Costs5510881013132126
Material Costs13452611489967192139119145
Employee Cost 7678879888
Other Costs 43564511111412
Operating Profit 23-33133283456455248
Operating Profit Margin (%) 13.4%-4.0%27.4%16.2%19.2%27.7%19.9%20.9%24.2%20.3%
Other Income + 01800001622
Exceptional Items 0000000000
Interest 14141822171927252827
Depreciation 99999912121313
Profit Before Tax 1-7533718141311
Tax 2211114222
Profit After Tax -2-932261312119
PAT Margin (%) -1.0%-13.5%2.8%1.0%1.7%4.6%4.7%5.7%5.1%3.6%
Adjusted EPS (₹)-0.0-0.20.10.00.00.10.10.10.10.1
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 988992243245251312340350505
Share Capital 454556565656949494143
Reserves 534436187190196218246256362
Debt +91104141111122241221234244232
Long Term Debt3114745111295684732
Short Term Debt609013410771130126165196199
Minority Interest0000000000
Trade Payables32530415222816
Others Liabilities 729690987177488612187
Total Liabilities 264291328454439574597682743839

Fixed Assets

Net Fixed Assets +145136128280271262329338329316
Gross Block285286285446446446524545548548
Accumulated Depreciation140149157166175184195207219232
CWIP 1255008421212121
Investments 0012244555
Inventories5964101474211692122145210
Trade Receivables21102024323621182935
Cash Equivalents 46171783337
Others Assets 256972957464127174212245
Total Assets 264291328454439574597682743839
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 686-30596-68812-5-47
PBT 1-9333718141311
Adjustment 99999912121313
Changes in Working Capital 586-4348-7-8451-24-30-71
Tax Paid 0000000000
Cash Flow From Investing Activity + -96-2-2-1-85-20-23-3-1
Capex -90-0-1-0-84-20-22-3-0
Net Investments 00-1-0-1-20-1-0-1
Others 06000-00000
Cash Flow From Financing Activity + -61-927-526144-6419851
Net Proceeds from Shares 0000001000144
Net Proceeds from Borrowing -13-17-7-347610-26-21-15
Interest Paid 0000000000
Dividend Paid 0000000000
Others -48734-49-4184-734629-78
Net Cash Flow -22-5610-9-3-1-03
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)-1.67-9.233.561.241.022.296.477.155.753.12
ROCE (%)6.143.3810.18.115.365.89.829.358.977.13
Asset Turnover Ratio0.60.230.370.520.330.250.480.340.30.3
PAT to CFO Conversion(x)N/AN/A-1029.53-11.336.230.17-0.45-5.22
Working Capital Days
Receivable Days43.3088.3048.403968.509937.1033.504048.70
Inventory Days195.60350.60265133.30110.80232.90135.40179.90226.20271.30
Payable Days39.9018.7022.5010.305.7011.2018.5048.9076.6055.30

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Davangere Sugar Company Ltd FAQs

The current trading price of Davangere Sugar Co on 07-Sep-2026 10:25 is ₹1.99.

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 06-Sep-2026 the market cap of Davangere Sugar Co stood at ₹334.1 Cr

The latest P/E ratio of Davangere Sugar Co as of 06-Sep-2026 is 41.04.

The latest P/B ratio of Davangere Sugar Co as of 06-Sep-2026 is 0.88.

The 52-week high of Davangere Sugar Co is ₹5.48 and the 52-week low is ₹1.93.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Davangere Sugar Co is ₹249 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Davangere Sugar Company Ltd is a below average quality company.

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

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

About Davangere Sugar Company Ltd

Davangere Sugar Company (DSCL), established in 1970, is one of the prominent integrated sugar manufacturing companies in Karnataka and is strategically located in the state's prime sugarcane-growing belt. The company is engaged in the manufacture of sugar, power, and ethanol, with a strong emphasis on integrated operations that ensure efficient resource utilization and steady revenue streams. Over the years, DSCL has established itself as a trusted player in the Indian sugar sector by combining modern manufacturing facilities with sustainable practices.

The company operates a sugar plant with a substantial crushing capacity, supported by a cogeneration unit that harnesses bagasse to produce renewable power, and a distillery that converts molasses into ethanol and other industrial alcohol products. This integrated business model not only enhances operational efficiency but also mitigates risks associated with cyclical fluctuations in sugar prices. With the Government of India's continued thrust on ethanol blending and renewable energy, DSCL is well-positioned to benefit from supportive policies and sectoral reforms.

DSCL continues to work closely with a large base of sugarcane farmers, providing support in the form of cane development initiatives, technical assistance, and timely payments. This strong relationship with growers has ensured a steady supply of quality sugarcane, even during challenging climatic conditions. The company's focus on sustainable cane development, improved productivity, and fair farmer engagement reflects its commitment to creating value across the entire value chain.
The company has also adopted a forward-looking approach by diversifying its revenue streams beyond sugar through ethanol production and power generation. These segments not only contribute to earnings stability but also align DSCL with broader national priorities, including the green energy transition, energy security, and reduced carbon emissions.

Business area of the company

The company is engaged in the manufacture of sugar, power, and Ethanol, with a strong emphasis on integrated operations that ensure efficient utilization of resources and steady revenue streams.

Products

  • Sugar: The company has modern sugar mills with advanced refining technology.
  • Cogeneration: Its state-of-the-art co-generation plant reflects technological excellence, sustainable energy practices, and a commitment to operational innovation.
  • Distillery: The company has advanced multi-feed distillation for ethanol production from molasses and grain. Also, a key partner in India’s Ethanol Blended Petrol (EBP) Programme, contributing to energy security and reduced carbon emissions.
  • Aviation: Davangere Sugar Factory takes aviation to new heights with its fleet of helicopter, offering a unique blend of efficiency and convenience.

Milestones

  • 1970: Incorporated as Joint Sector Company
  • 1974: DSCL commenced commercial production of Sugar with a capacity of 1250 TCD
  • 1995: Shamanaur Group acquired the shares from institutional bodies of Govt. of Karnataka and took over the management of the company
  • 1998: Expansion of Cane Crushing capacity from 1,250 TCD to 1,500 TCD
  • 2001-2003: Further Expanded the Cane crushing capacity from 1,500 TCD to 2,500 TCD
  • 2006-2012: Expansion of Cane Crushing capacity from 2500 TCD to 4750 TCD
  • 2012: Refined sugar manufacturing unit with 500 TCD
  • 2022: Company installed molasses/sugar syrup and grain-based Ethanol unit with installed capacity of 65 KLPD and started commercial production from Q1FY23
  • 2024: The company initiated the expansion of its ethanol plant to 110 KLPD and launched a CO2 recovery plant project, reinforcing its commitment to innovation and environmental responsibility.

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