Is The Ugar Sugar Works Ltd (UGARSUGAR) a good quality company?

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

Is The Ugar Sugar Works Ltd (UGARSUGAR) undervalued or overvalued?

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

What is The Ugar Sugar Works Ltd (UGARSUGAR) share price return in the past 10 years?

The Ugar Sugar Works Ltd share price has appreciated 4.9% annually (CAGR) over the past ten years.

Is The Ugar Sugar Works Ltd (UGARSUGAR) a good buy now?

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

What is the share price of The Ugar Sugar Works Ltd (UGARSUGAR)?

Company share prices are keep on changing according to the market conditions. The current trading price of The Ugar Sugar Works Ltd (UGARSUGAR) on 17-Apr-2026 16:59:59 at 16:59 is 40.38.

What is the P/E ratio of The Ugar Sugar Works?

The latest standalone P/E ratio of The Ugar Sugar Works as of 17-Apr-2026 is 23.99.

What is the P/B ratio of The Ugar Sugar Works Ltd (UGARSUGAR)?

The latest standalone P/B ratio of The Ugar Sugar Works Ltd (UGARSUGAR) as of 17-Apr-2026 is 2.47.

What is the 52-week high and low of The Ugar Sugar Works Ltd (UGARSUGAR)?

The 52-week high of The Ugar Sugar Works Ltd (UGARSUGAR) is Rs. 52.29 and the 52-week low is Rs. 33.11.

What is the TTM revenue of The Ugar Sugar Works Ltd (UGARSUGAR)?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of The Ugar Sugar Works is Rs. 1642.28 (Cr.).

The Ugar Sugar Works Ltd (UGARSUGAR) Share Analysis – Quality, Growth & Valuation Zone & DeciZen Rating

Name: The Ugar Sugar Works Ltd (UGARSUGAR)
Brand: The Ugar Sugar Works

The Ugar Sugar Works Ltd (UGARSUGAR) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

BSE: 530363 NSE: UGARSUGAR | Sugar | Small Cap

Key Metrics

Market Cap

₹454 Cr.

P/E Ratio

23.99

Price to Book (P/B)

2.47

Price to Sales (P/S)

0.28

EV/EBITDA

8.82

Return on Capital Employed (ROCE)

3.35%

Current Price

₹40.4

Return on Equity (ROE)

-7.25%

Return on Assets (ROA)

-1.37%

Operating Profit Margin

Net Profit Margin

-1.22%

Gross Profit Margin

0.4%

Book Value per Share

₹16.4

Sales Growth (YoY)

15.52%

Sales Growth (3 Years)

5.35%

Operating Profit Growth (1 Year)

-42.46%

Operating Profit Growth (3 Years)

-25.85%

Net Profit Growth (1 Year)

-176.87%

52-Week Low / High

₹33 / 52

Net Profit Growth (3 Years)

NAN%

Dividend Yield

0.00%

Promoter Holding

44.54%

Pledged shares (%)
of Promoter's holding (%)

0.00%

Check Before You Invest

Q.1 Revenue growth of The Ugar Sugar Works Ltd?

The Ugar Sugar Works Ltd revenue growth is 15.5% for FY-2025 , which is above its 5 year CAGR of 8.9% , indicating faster growth.

Q.1 Promoter shareholding and pledge status of The Ugar Sugar Works Ltd?

Promoters hold 44.54% of the The Ugar Sugar Works Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Q.1 Revenue growth of The Ugar Sugar Works Ltd vs industry peers?

The Ugar Sugar Works Ltd revenue CAGR is 8.85% , compared to the industry median CAGR of 2.84% , indicating faster growth and gaining its market share.

Q.1 Which industry/sub-sector does The Ugar Sugar Works Ltd belong to?

The Ugar Sugar Works Ltd belongs to the Agriculture & Allied activities sector, operating specifically within the Sugar segment.

Q.1 Stock return of The Ugar Sugar Works Ltd over the last decade?

Over the last 9 year(s), the stock has delivered a CAGR of 5.8% based on the current price.

DeciZen - make an informed investing decision on Ugar Sugar Works

Based on:

Data

Overall Rating ⓘ
Login to view analysis. M-Cap below 500cr. High Risk from low Liquidity

1. Quality

2. Valuation

3. Price Trend

The Ugar Sugar Works stock performance

Key Ratios

Is The Ugar Sugar Works Ltd an attractive stock to invest in?

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

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	13.6%	13.8%	-7.5%	7.8%	9.7%	10.1%	12.9%	29.7%	11.3%	3.4%	-
Value Creation Index ⓘ	0.0	0.0	-1.5	-0.5	-0.3	-0.3	-0.1	1.1	-0.2	-0.8	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	837	585	650	750	870	956	1,137	1,794	1,151	1,330	1,642
Sales YoY Gr.	-	-30.1%	11%	15.4%	16%	9.8%	19%	57.7%	-35.8%	15.5%	-
Adj EPS ⓘ	1	2.3	-6.1	0.4	1.2	1.5	3.8	9.1	1.9	-1.5	1.7
YoY Gr.	-	130%	-363.9%	NA	194.9%	32.2%	152.6%	137%	-79.3%	-181.9%	-
BVPS (₹) ⓘ	8.1	10.1	4	4.6	5.7	7.1	10.7	19.5	20.8	19.1	16.4
Adj Net Profit ⓘ	11.3	25.9	-68.3	4.4	13	17.1	43.3	102	21.2	-17.4	19
Cash Flow from Ops. ⓘ	-38.5	-12.6	36.9	-46.4	44.6	-77.8	93	394	-37.3	21.3	-
Debt/CF from Ops. ⓘ	-7.2	-28.8	12.8	-11.9	11.5	-7.1	6.9	0.9	-13.8	28.7	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	5.3%	8.9%	5.4%	15.5%
Adj EPS ⓘ	-204.9%	-206%	-173.7%	-181.9%
BVPSⓘ	10%	27.6%	21.2%	-8.1%
Share Price	4.9%	17.3%	-26.8%	-13%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	13	25.3	-85.9	9	22.6	23.8	43.2	60	9.3	-7.7	9.5
Op. Profit Mgn % ⓘ	6	11	-3.3	6.6	7.8	7.1	8.7	11.6	6.1	3	5.5
Net Profit Mgn % ⓘ	1.4	4.4	-10.5	0.6	1.5	1.8	3.8	5.7	1.8	-1.3	1.2
Debt to Equity ⓘ	3.1	3.2	10.5	10.8	8.1	7	5.3	1.6	2.2	2.9	-
Working Cap Days ⓘ	194	264	267	291	261	242	243	154	208	205	51
Cash Conv. Cycle ⓘ	80	169	183	155	137	153	162	73	116	122	-11

Recent Performance Summary

Latest Financials

	Standalone	Consolidated
TTM EPS (₹)	1.7	6.1
TTM Sales (₹ Cr.)	1,642	1,761
BVPS (₹) ⓘ	16.4	0
Reserves (₹ Cr.) ⓘ	173	161
P/BV ⓘ	2.47	0.00
PE ⓘ	23.99	6.64

From the Market
52 Week Low / High (₹)	33.11 / 52.29
All Time Low / High (₹)	0.86 / 135.65
Market Cap (₹ Cr.)	454
Equity (₹ Cr.)	11.3
Face Value (₹)	1
Industry PE ⓘ	20.7

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

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

Valuation of Ugar Sugar Works - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max

Analyst's Notes

No data found!

Key Ratios

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	837	585	650	750	870	956	1,137	1,794	1,151	1,330
Operating Expenses ⓘ +	787	521	671	700	802	888	1,038	1,585	1,081	1,289
Manufacturing Costs	59	26	58	59	54	57	78	78	83	92
Material Costs	635	409	527	555	650	739	850	1,360	864	1,077
Employee Cost	68	64	65	64	70	69	78	108	95	88
Other Costs ⓘ	26	21	20	23	29	23	32	40	39	32
Operating Profit ⓘ	50	65	-21	50	68	68	99	209	70	40
Operating Profit Margin (%)	6.0%	11.0%	-3.2%	6.6%	7.8%	7.1%	8.7%	11.6%	6.1%	3.0%
Other Income ⓘ +	9	9	3	9	3	6	2	6	33	13
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	0
Interest ⓘ	29	30	29	38	43	43	44	49	44	48
Depreciation ⓘ	16	15	19	15	14	12	11	18	29	28
Profit Before Tax ⓘ	15	28	-66	5	14	19	46	148	30	-22
Tax ⓘ	4	2	2	1	0	2	3	45	9	-6
Profit After Tax	11	26	-68	4	14	17	43	103	21	-16
PAT Margin (%)	1.4%	4.4%	-10.5%	0.6%	1.6%	1.8%	3.8%	5.7%	1.8%	-1.2%
Adjusted EPS (₹)	1.0	2.3	-6.1	0.4	1.2	1.5	3.9	9.2	1.9	-1.4
Dividend Payout Ratio (%)	25%	9%	0%	0%	8%	13%	6%	5%	13%	0%

Balance Sheet

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	91	114	45	51	64	79	121	221	235	216
Share Capital ⓘ	11	11	11	11	11	11	11	11	11	11
Reserves ⓘ	80	102	34	40	52	68	109	210	224	205
Debt +	246	324	341	409	415	510	595	305	458	549
Long Term Debt	90	50	11	0	48	70	124	140	84	92
Short Term Debt	156	275	330	409	366	439	471	165	374	457
Minority Interest	0	0	0	0	0	0	0	0	0	0
Trade Payables	179	8	268	206	173	117	232	156	185	118
Others Liabilities ⓘ	273	218	229	240	202	212	251	279	279	325
Total Liabilities ⓘ	789	665	884	907	854	919	1,198	961	1,157	1,209
Fixed Assets
Net Fixed Assets ⓘ +	164	169	168	157	141	132	122	229	259	239
Gross Block	482	496	510	519	506	508	509	634	689	697
Accumulated Depreciation	318	328	342	362	366	377	387	405	431	458
CWIP ⓘ	3	4	1	0	1	3	112	38	79	148
Investments ⓘ	6	6	5	4	4	4	4	4	4	5
Inventories	419	402	590	657	588	635	769	365	485	526
Trade Receivables	143	11	45	28	12	49	89	187	142	120
Cash Equivalents	7	15	23	3	11	7	8	18	41	19
Others Assets ⓘ	46	58	52	56	97	89	94	120	148	151
Total Assets ⓘ	789	665	884	907	854	919	1,198	961	1,157	1,209

Cash Flow

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	-38	-13	37	-46	45	-78	93	394	-37	21
PBT ⓘ	15	28	-66	5	14	19	46	148	30	-22
Adjustment ⓘ	43	44	48	53	61	55	58	67	72	72
Changes in Working Capital ⓘ	-95	-74	55	-104	-30	-152	-8	208	-120	-28
Tax Paid ⓘ	-1	-11	-0	-1	-0	0	-3	-29	-19	-0
Cash Flow From Investing Activity ⓘ +	-4	-20	-13	-2	-1	-6	-131	-48	-98	-73
Capex	-5	-21	-15	-3	-1	-6	-132	-59	-103	-77
Net Investments	0	-0	1	0	-0	-0	0	-0	0	1
Others ⓘ	1	1	0	0	0	1	0	11	5	4
Cash Flow From Financing Activity ⓘ +	38	44	-15	30	-37	79	39	-346	131	52
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	0	0	0	-11	48	49	54	13	-42	14
Interest Paid ⓘ	-28	-31	-29	-38	-43	-42	-44	-48	-44	-48
Dividend Paid ⓘ	0	-3	-3	0	0	-1	-2	-3	-6	-3
Others ⓘ	67	78	16	78	-42	73	32	-308	223	89
Net Cash Flow ⓘ	-4	11	8	-19	6	-5	1	-0	-5	1

Finance Ratio

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	12.98	25.39	-85.76	9.01	23.99	23.85	43.31	60.57	9.33	-7.25
ROCE (%)	13.58	13.79	-7.46	7.76	9.65	10.12	12.92	29.71	11.31	3.35
Asset Turnover Ratio	1.42	1.04	1.03	1.01	1.15	1.26	1.23	1.8	1.21	1.19
PAT to CFO Conversion(x)	-3.45	-0.5	N/A	-11.5	3.21	-4.59	2.16	3.83	-1.76	N/A
Working Capital Days
Receivable Days	29	37	13	15	7	10	19	26	47	34
Inventory Days	148	199	227	252	225	200	197	107	122	131
Payable Days	118	84	96	156	107	72	75	52	72	51

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The Ugar Sugar Works Ltd FAQs

The current trading price of Ugar Sugar Works on 17-Apr-2026 16:59 is ₹40.38.

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 16-Apr-2026 the market cap of Ugar Sugar Works stood at ₹454.3 Cr

The latest P/E ratio of Ugar Sugar Works as of 16-Apr-2026 is 23.99.

The latest P/B ratio of Ugar Sugar Works as of 16-Apr-2026 is 2.47.

The 52-week high of Ugar Sugar Works is ₹52.29 and the 52-week low is ₹33.11.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Ugar Sugar Works is ₹1,642 ( Cr.) .

About The Ugar Sugar Works Ltd

Incorporated on September 11, 1939, Ugar Sugar Works is one of the leading sugar factories in Karnataka. The registered office of the company is located at Mahaveernagar, Sangli. The company is engaged in manufacture and sale of sugar, industrial and potable alcohol, and generation and distribution of electricity. The company also manufacture Ethanol for the sale to oil companies and Industrial Alcohol for the local market.

The Ugar Sugar Works is the flagship organization of the Shirgaokar Group of Companies. The company has been involved in the manufacture of white crystal sugar. The company operates through the following key business divisions: Sugar Division, Power (Co-generation) Division, Indian Made Liquor (IML) Division, Industrial Alcohol Division, and Ethanol Division.

Business area of the company

The company is engaged in manufacture and sale of sugar, industrial and potable alcohol, and generation and distribution of electricity. The company also manufactures Ethanol for the sale to oil companies and Industrial Alcohol for the local market.

Products of the company

White crystal sugar
Rectified spirit
Malt spirit
Industrial alcohol
Ethanol
Indian Made Liquor (IML)
Bagasse-based Power
Molasses and other sugar by-products

History and milestones

1939: The company was incorporated on September 11, 1939.
1942: A 500 TCD sugar plant was installed and the first crushing season began on 21 April 1942.
2021: Ugar Sugar Works was incorporated a subsidiary Company namely ‘USW Spirits’ on February 17, 2021.
2022: The company was received Environmental Clearance for expansion for 645 KLPD on sugarcane juice / syrup to Ethanol. Totaling capacity up to 845 KLPD under ethanol blending progammme.
2022: Ugar Sugar Works completed the establishment of 200 KLPD distillery.
2024: Ugar Sugar Works has entered into a Lease Agreement with S.G.Z & S.G.A. Sugars (J.V.).

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SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
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Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
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The Ugar Sugar Works Ltd (UGARSUGAR) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Ugar Sugar Works Share Price