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Mawana Sugars Ltd (MAWANASUG)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 523371 NSE: MAWANASUG Sugar | Small Cap | Mawana Sugars Share Price

₹97.04 1.47 (1.54%)

As on 04-Jun'26 16:59

Mawana Sugars Ltd (MAWANASUG)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 523371 NSE: MAWANASUG Sugar | Small Cap | Mawana Sugars Share Price

₹97.04 1.47 (1.54%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹380 Cr.
Current Price
₹97
52-Week Low / High
₹75 / 123
TTM EPS
₹9.4
TTM Sales
₹1,564 Cr.
Book Value per Share
₹134.1
P/E Ratio
10.34
Higher than its 5-year historical median
Industry PE
24.5
Price to Book (P/B)
0.72
Lower than its 5-year historical median
Price to Sales (P/S)
0.24
Lower than its 5-year historical median
EV/EBITDA
7.06
Higher than its 5-year historical median
Dividend Yield
4.64%
Profitability Efficiency
Return on Equity (ROE)
15.18%
Outperforms industry median
Return on Capital Employed (ROCE)
12.55%
Outperforms industry median
Return on Assets (ROA)
6.23%
Operating Profit Margin
8.5%
Net Profit Margin
4.94%
Gross Profit Margin
7.2%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
6.64%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
31.47%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
67.64%
Asset Quality
Promoter Holding
63.49%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹485 Cr.
Equity
₹39.1 Cr.
Face Value
₹10
All Time Low / High
₹1.70 / 232.00

Mawana Sugars stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Somewhat Undervalued

Price Trend

Semi Strong
Q.1 Is Mawana Sugars Ltd a good quality company?
Mawana Sugars 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 Mawana Sugars Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Mawana Sugars Ltd vs industry peers?
Mawana Sugars Ltd revenue CAGR is 4.29%, 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 Mawana Sugars Ltd?
Promoters hold 63.49% of the Mawana Sugars Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Mawana Sugars Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 8.7% 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.
Mawana Sugars 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 % 72.4%144.2%6.4%16.6%1%21.9%9.4%5.8%9.7%12.6%-
Value Creation
Index
4.29.3-0.50.2-0.90.6-0.3-0.6-0.3-0.1-

Growth Parameters

Sales 1,1881,1911,3441,2051,1721,4691,4781,4821,3551,4451,564
Sales YoY Gr.-0.3%12.9%-10.3%-2.8%25.4%0.6%0.2%-8.6%6.6%-
Adj EPS 0.530.11.510.6-233.89.24.66.814.49.4
YoY Gr.-6302.1%-95%606%-317.4%NA144.8%-50.6%48%113.5%-
BVPS (₹) -788791.210281.1100.2105.7106.7114.6125.8134.1
Adj Net
Profit
1.81185.941.4-90.114.836.117.926.456.437
Cash Flow from Ops. 32.949.466.2-95.6-135164-151109-164114-
Debt/CF from Ops. 11.74.92.1-2.5-3.61.7-2.83.5-3.53.7-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 2.2%4.3%-0.8%6.6%
Adj EPS 46.3%NA16%113.5%
BVPSNA9.2%6%9.7%
Share Price 7.1% 13% 0.3% -10.2%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
-0.6-573.61.711-25.14.294.36.1127.2
Op. Profit
Mgn %
7.213.72.49.64.66.77.45.46.98.56.7
Net Profit
Mgn %
0.29.90.43.4-7.712.41.223.92.4
Debt to
Equity
-1.30.70.40.61.50.710.91.30.90
Working Cap
Days
10716415220628423720217221222273
Cash Conv.
Cycle
-70-55-83161346111416217733

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales1,4851,1911,3441,2051,1721,4691,4781,4821,3551,445
Operating Expenses + 1,3771,0281,3131,0901,1181,3711,3711,4011,2621,322
Manufacturing Costs276205225262818080919385
Material Costs9677149696759201,1771,1761,1911,0471,108
Employee Cost 90726977646969788187
Other Costs 44364977534545414041
Operating Profit 1071633211554981088094123
Operating Profit Margin (%) 7.2%13.7%2.4%9.6%4.6%6.6%7.3%5.4%6.9%8.5%
Other Income + 109121294842910
Exceptional Items 03491500107-5-2021
Interest 77442123273526283030
Depreciation 38302433564840363534
Profit Before Tax 24471471-1912645195891
Tax 084-22870321221520
Profit After Tax 23631642-899333174371
PAT Margin (%) 0.2%30.5%1.2%3.5%-7.6%6.4%2.2%1.2%3.1%4.9%
Adjusted EPS (₹)0.692.84.210.9-22.823.98.54.410.918.3
Dividend Payout Ratio (%)0%0%0%0%0%0%35.50%68.10%36.70%21.90%

Valuation of Mawana Sugars - 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 + -381340357399317392413418448492
Share Capital 39393939393939393939
Reserves -420301317360278353374378409453
Debt +29214197176359246385351563418
Long Term Debt246141971761947541700
Short Term Debt47000165171344344563418
Minority Interest0000000000
Trade Payables716423538670590656185201150134
Others Liabilities 429121-44221466462623649
Total Liabilities 1,0571,0259471,2671,4131,3581,0451,0321,1981,093

Fixed Assets

Net Fixed Assets +441321313296298231211197204195
Gross Block1,074345360374440392409429470494
Accumulated Depreciation633254778143161198232266299
CWIP 348811331610
Investments 3334426878818484854
Inventories417441419740800748642630820820
Trade Receivables72415137493939333935
Cash Equivalents 43606847629945392520
Others Assets 48125457112514820352518
Total Assets 1,0571,0259471,2671,4131,3581,0451,0321,1981,093

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 414966-96-135164-151109-164114
PBT 24471471-710245195891
Adjustment 109-281205083-2263623639
Changes in Working Capital -70-11441-207-19685-25829-257-7
Tax Paid -1-3-9-10-15-1-0-2-1-9
Cash Flow From Investing Activity + -811974-27-51124-14-39488
Capex -10119-21-25-43129-11-35-2-27
Net Investments -4186-9-15-2-551
Others 6-196-7-11-211115
Cash Flow From Financing Activity + -30-156-123101202-243107-76143-206
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -24-130-10810467-224-37-37-35-5
Interest Paid -3-25-15-4-28-23-17-27-29-29
Dividend Paid 000000-12-12-12-27
Others -3-1-0-01635172-1219-145
Net Cash Flow 31318-221546-57-6-16-4

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)N/A04.6611.24-24.8726.338.224.159.8415.18
ROCE (%)N/A144.156.4316.580.9921.889.425.799.6512.55
Asset Turnover Ratio1.581.221.361.090.871.061.231.431.221.26
PAT to CFO Conversion(x)20.50.134.13-2.29N/A1.76-4.586.41-3.811.61
Working Capital Days
Receivable Days14.3016.4012.5013.4013.4010.909.608.809.709.40
Inventory Days81.80123.20116.60175.50239.80192.30171.60156.60195.20207.10
Payable Days258.80291.10180.90326.70250.20193.30130.5059.1061.3046.80

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

Mawana Sugars Ltd FAQs

The current trading price of Mawana Sugars on 04-Jun-2026 16:59 is ₹97.04.

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 03-Jun-2026 the market cap of Mawana Sugars stood at ₹379.6 Cr

The latest P/E ratio of Mawana Sugars as of 03-Jun-2026 is 10.34.

The latest P/B ratio of Mawana Sugars as of 03-Jun-2026 is 0.72.

The 52-week high of Mawana Sugars is ₹123.5 and the 52-week low is ₹75.00.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Mawana Sugars is ₹1,564 ( Cr.) .

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

The key valuation ratios of Mawana Sugars Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

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

About Mawana Sugars Ltd

Incorporated on December 26, 2002 under the Companies Act, 1956 as Siel Sugar Limited and then renamed as Mawana Sugars Limited with effect from June 16, 2004. The Sugar business of Siel Limited vested with the company retrospectively with effect from October1, 2002 pursuant to the Scheme of Arrangement approved by High Court of Delhi vide Order dated August 26, 2003

Mawana Sugars Limited formerly known as Siel Limited promoted by well known group Shriram emerged as an independent entity in 1989 out of the restructuring of the erstwhile DCM Group.

Shriram Industrial Enterprises Ltd. (Siel Ltd.) formerly known as Shriram Refrigeration Industries Ltd. was incorporated on 27th March, 1961. As per the Scheme of Amalgamation approved by Hon’ble High Court of Delhi vide its Order dated 10th April, 1992, with transfer date being 1st April, 1990, Shriram Industrial Enterprises Ltd. had taken over the business of some of the units of erstwhile DCM Ltd. Shriram Industrial Enterprises Ltd. was then engaged in the manufacture and sale of Vanaspati, Refined Oil, Sugar, Caustic Soda, Soap, Hermatic Compressors, Water Coolers, etc. Pursuant to the Hon’ble Supreme Court Order in November, 1996 for relocation of plants from Delhi, Siel’s financial problem started and incurred heavy losses which resulted into large debt burden. This forced the company to restructure its business.

The company has at present two sugar divisions / units / undertakings viz. at Mawana Sugar Works (MSW) at Mawana, Distt. Meerut and Titawi Sugar Complex (TSC) at Titawi, Distt. Muzaffarnagar, both in Uttar Pradesh. Both the units are engaged in the business of manufacture and sale of sugar.

Product range of the company includes:

Mawana Sugars has been engaged in the business of manufacture and selling of chemicals ,sugar and edible oils.

Subsidiary:

Siel Industrial Estate Limited was incorporated for the setting of an Industrial Estate in district Rajpura, Punjab pursuant to a Memorandum of Understanding entered into between Mawana Sugars (Formerly known as Siel Limited) and the State Government of Punjab. Siel Industrial Estate Limited acquired 540 acres of land out of which 118.3 acres have been sold to various parties including Mawana Sugars for setting up of its Chemical Plant. 

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