Dwarikesh Sugar Industries Ltd Stock Analysis

BSE: 532610 | NSE: DWARKESH | Sugar | Small Cap

BSE Share Price Aug 19, 18:03
102.30 -2.60 (-2.48%)

DeciZen - Make an Informed Decision on Dwarikesh Sugar Inds

Overall Rating

1. Quality

2. Valuation

Fair

3. Price Trend

Semi Strong

Dwarikesh Sugar Inds Price Chart

P/E Ratio (SA) :
11.77
Market Cap :
1,975.3 Cr.
52-wk low :
63.5
52-wk high :
148.5
Bole Toh?

1. Is Dwarikesh Sugar Industries Ltd a good quality company?

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

2. Is Dwarikesh Sugar Industries Ltd undervalued or overvalued?

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

3. Is Dwarikesh Sugar Industries Ltd a good buy now?

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

10 Year X-Ray of Dwarikesh Sugar Inds:

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.
Dwarikesh Sugar 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

Value Creation Index Colour Code Guide

Sep'12Sep'13Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
ROCE % 7%5.1%5.8%9.6%24%15.6%12%7.9%10%14.9%-
Value Creation Index -0.5-0.6-0.6-0.30.70.1-0.2-0.4-0.3NA-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 6999287527941,1901,4301,0841,3361,8391,9742,228
YoY Gr. Rt. %-32.8%-18.9%5.6%49.9%20.1%-24.2%23.3%37.6%7.4%-
Adj EPS -0.7-1.2-0.72.28.25.453.94.98.38.9
YoY Gr. Rt. %-NANANA274.8%-34.2%-6.9%-22.2%25.4%68.7%-
BVPS (₹) 6.75.535.315.219.424.625.730.735.837.9
Adj Net Profit -11.3-19.3-11.235.615410194.373.592.1155168
Cash Flow from Ops. 7.8203-10036.7141298-25011.3296352-
Debt/CF from Ops. 67.41.9-4.117.93.81.2-2.674.62.11.5-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 12.2%10.7%22.1%7.4%
Adj EPS NA0.2%18.1%68.7%
BVPS 20.518.713.316.3
Share Price 35.8% 9.3% 64.9% 43%

Key Financial Parameters

Performance Ratio Colour Code Guide

Sep'12Sep'13Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
Return on Equity % -8.3-15.1-14.932.276.431.122.715.517.324.824.2
Op. Profit Mgn % 13.56.37.613.6231011.910.21114.713.9
Net Profit Mgn % -1.6-2.1-1.54.512.97.18.75.557.97.5
Debt to Equity 4.23.365.61.90.91.41.71.10.8-
Working Cap Days 110941232641941672873132301930
Cash Conv. Cycle 9764731631431141902041471260

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 24.20%

Sales growth is growing at healthy rate in last 3 years 22.11%

Net Profit is growing at healthy rate in last 3 years 18.09%

Debt to equity has declined versus last 3 years average to 0.78

Sales growth is good in last 4 quarters at 30.31%

No data to display

Latest Financials - Dwarikesh Sugar Industries Ltd.

Standalone Consolidated
TTM EPS (₹) 8.9 -
TTM Sales (₹ Cr.) 2,228 -
BVPS (₹.) 37.9 -
Reserves (₹ Cr.) 694 -
P/BV 2.77 -
PE 11.77 -
From the Market
52 Week Low / High (₹) 63.50 / 148.45
All Time Low / High (₹) 1.45 / 148.45
Market Cap (₹ Cr.) 1,975
Equity (₹ Cr.) 18.8
Face Value (₹) 1
Industry PE 17.1

Management X-Ray of Dwarikesh Sugar Inds :

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 (%)

Event Update

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Analyst's Notes

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Key Ratios of Dwarikesh Sugar Inds

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)

News

About Dwarikesh Sugar Industries Ltd

Dwarikesh Sugar Industries was originally incorporated as Dwarka Sugar vide certificate of incorporation no. 11-74815 dated November 1, 1993 with the Registrar of Companies, Maharashtra at Mumbai. The name of the company was changed to Dwarikesh Sugar Industries on April 18, 1994.

The registered office of the company has been shifted from the state of Maharashtra to the state of Uttar Pradesh (UP), confirmed by an order of the Company Law Board (Western Region) bench, Mumbai dated June 23, 1995. In this regard, Dwarikesh has received a Certificate of Registration bearing no. 20-18642 dated August 31, 1995 from Registrar of Companies, UP at Kanpur.  The company has been promoted by Gautam R Morarka with the main object of carrying out the activity of production of sugar and other sugar related activities. The company commenced its commercial production on December 5, 1995 by setting up a 2500 tcd sugar plant in the sugar rich belt of Uttar Pradesh at Dwarikesh Nagar unit, Bundki village in Bijnor District.

The plant now has a capacity of 6500 tcd. Beside this, the company has set up one 7500 tcd sugar plant in district Bijnor commencing production in 2006 and has set up another 7500 tcd sugar plant in the Bareilly district, commencing production in Dec 2007. Thus the total capacity of Dwarikesh is 21500 tcd.

Products

  • Sugar: Sugar production is an interesting process during which some useful bi-products are generated.  
  • White Crystal Sugar: Dwarikesh Sugar is known for its high quality, hygiene and good taste.
  • Ethanol: Ethanol is a good oxygenate, which is used as a blend with motor spirit to reduce emissions.
  • Captive Power: Dwarikesh is focusing on this sector as demand of captive power is continue to increase.
  • Molasses: Molasses plays an important part in Dwarikesh group's diversification plans.
  • Valuable Residue: Bagasse, the residue obtained from crushing cane in the mills, is used by the paper industry.

Divisions

  • Sugar
  • Power co-generation
  • Industrial alcohol-ethanol

Group Companies

  • Morarka Finance
  • Dwarikesh Informatics
  • Sewa Jyoti
  • RR Morarka Charitable Trust
  • Narbada Devi Morarka Charitable Trust

History

  • 1993: Incorporation of the company in the name of Dwarka Sugar.
  • 1994: Change of name to Dwarikesh Sugar Industries.
  • 1995: Setting up 2500 tcd sugar plant and commencement of commercial production.
  • 1996: Expansion of capacity to 3500 tcd and setting up of 6 mw power plant.
  • 1997: Payment of maiden dividend of 10%.
  • 1999: Expansion of capacity to 4000 tcd.
  • 2001: Expansion of capacity to 5000 tcd.
  • 2002: Expansion of co-gen plant from 6 MW to 9 MW and expansion of capacity to 6500 tcd.
  • 2003: Sold power worth Rs 183 lakh to the UP state grid.
  • 2004: Successful completion of IPO (23 times oversubscribed) and expansion of co-gen power plant from 9 MW to 17 MW.
  • 2005: Setting up of 30 klpd distillery for manufacture of industrial alcohol and work begins on new project of 7500 tcd at Dwarikeshpuram (Afzalgarh) in February.
  • 2006: Commissioned a new greenfield plant of 7500 tcd at Dwarikeshpuram with 9 MW co-gen capacity in a record time.
  • 2006: Work begins on new project of 7500 tcd at Dwarikeshdham (Faridpur, Bareilly District) with 36 MW cogeneration.
  • 2007:  Commissioned a new greenfield plant of 7500 tcd with 36 MW cogeneration capacity in a record time at Dwarikeshdham (Bareilly District). Exportable power capacity of the plant is 24 MW.
  • 2008: Commencement of co-generation for supply to state grid at Dwarikeshdham and Dwarikeshpuram units.
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