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Dwarikesh Sugar Industries Ltd. Stock Analysis

Small Cap
Evaluated by 745 users | BSE: 532610 | NSE: DWARKESH |
Sugar
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...

Analysis of Financial Track Record

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.
Value Creation
 Sep'10Sep'11Sep'12Sep'13Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 3.86%4.77%6.95%5.13%5.78%9.55%23.95%15.6%11.95%7.9%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 5555936999287527941,1901,4301,0841,336
Y-o-Y Gr. Rt.-6.9%17.8%32.8%-18.9%5.6%49.9%20.1%-24.2%23.3%
Adjusted EPS (Rs.) -0.55-0.8-0.69-1.19-0.682.188.175.385.013.9
Y-o-Y Gr. Rt.-NANANANANA274.8%-34.2%-6.9%-22.2%
Book Value per Share (Rs.) 8.177.376.675.492.975.2715.1919.4324.6225.69
Adjusted Net Profit -9-13.1-11.3-19.3-11.235.615410194.373.5
Net Op. Cash Flow (Rs. Cr.) 39.553.37.8203-10036.7141298-25011.3
Debt to Cash Flow from Ops 11.478.7667.441.93-4.1417.853.781.15-2.6274.6
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Dwarikesh Sugar Industries Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 10.3%12.2%3.9%23.3%
Adjusted EPS NANA-21.9%-22.2%
Book Value per Share 13.65419.14.4
Share Price 26.7% 29.7% -19.4% 27%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Sep'10Sep'11Sep'12Sep'13Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) -5.87-9.17-8.32-15.13-14.9432.2276.3531.122.7415.52
Operating Profit Margin (%) 11.3512.5713.456.347.5813.6322.969.9611.910.19
Net Profit Margin (%) -1.63-2.21-1.62-2.08-1.494.4812.927.098.75.5
Debt to Equity 3.033.424.23.256.015.61.860.941.411.74
Working Capital Days 969911094123264194167287313
Cash Conversion Cycle 4358976473163144114189204
Entity Percentage Holding
Promoters 42.08%
Institutions 3.59%
Non-Institutions 54.33%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Dwarikesh Sugar Industries Ltd.'s performance infers:

Dwarikesh Sugar Industries Ltd. earnings have grown by 0%, whereas share price has appreciated 29.7% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Dwarikesh Sugar Industries Ltd. share prices over the last 10 years. Here is what we found out:

Dwarikesh Sugar Industries Ltd. share price has appreciated 12.1% annually over the past ten years.

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

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.
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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