Indian Sucrose Ltd Stock Analysis

BSE: 500319 | NSE: OSWALSUG | Sugar | Small Cap

BSE Share Price 23-Sep-2022 18:01
65.25 -1.95 (-2.90%)

DeciZen - Make an Informed Decision on Indian Sucrose

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity

1. Quality

2. Valuation

Fair

3. Price Trend

Indian Sucrose Price Chart

P/E Ratio (SA) :
2.98
Market Cap :
113.4 Cr.
52-wk low :
39.5
52-wk high :
99
Bole Toh?

1. Is Indian Sucrose Ltd a good quality company?

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

2. Is Indian Sucrose Ltd undervalued or overvalued?

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

3. Is Indian Sucrose Ltd a good buy now?

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

10 Year X-Ray of Indian Sucrose:

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.
Indian Sucrose 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'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
ROCE % 11.3%13.4%3.2%0.8%7.2%14.2%7.4%6.6%11.7%12.6%-
Value Creation Index -0.2-0.0-0.8-0.9-0.50.0-0.5-0.5-0.2-0.1-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 179201223212283386419363532431445
YoY Gr. Rt. %-12.1%10.8%-4.9%33.5%36.4%8.6%-13.4%46.6%-19.1%-
Adj EPS 04.40.6-6.13.919.392.87.914.521.9
YoY Gr. Rt. %-22050%-87.6%-1207.3%NA398.7%-53.2%-68.8%181.6%82.1%-
BVPS (₹) 17.931.363.128.732.656.158.755.657.871.988.9
Adj Net Profit 06.80.9-9.4629.8144.412.322.438
Cash Flow from Ops. 78.424.6-1708.128.5-3387.134.9155-52.6-
Debt/CF from Ops. 13.9-2.323.47.9-7.22.65.21-3.9-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 10.2%8.8%0.9%-19.1%
Adj EPS 107.8%30.2%17%82.1%
BVPS 16.717.1724.4
Share Price 21.2% 10.3% 57.9% 31.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Sep'12Sep'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Equity % 0.113.20.8-17.61141.415.8514.122.427.3
Op. Profit Mgn % 13.917.910.96.711.916.88.57.39.512.214.2
Net Profit Mgn % 03.40.4-4.42.17.73.31.22.35.28.6
Debt to Equity 2.41.73.63.73.92.72.52.11.71.8-
Working Cap Days 2092125313512512172383022132520
Cash Conv. Cycle 11711232619515715513211536690

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 27.30%

Net Profit is growing at healthy rate in last 3 years 16.99%

Debt to equity has declined versus last 3 years average to 1.84

Sales growth has been subdued in last 3 years 0.91%

Sales growth is not so good in last 4 quarters at -0.07%

Latest Financials - Indian Sucrose Ltd.

Standalone Consolidated
TTM EPS (₹) 21.9 -
TTM Sales (₹ Cr.) 445 -
BVPS (₹.) 88.9 -
Reserves (₹ Cr.) 137 -
P/BV 0.73 -
PE 2.98 -
From the Market
52 Week Low / High (₹) 39.50 / 99.00
All Time Low / High (₹) 2.70 / 99.00
Market Cap (₹ Cr.) 113
Equity (₹ Cr.) 17.4
Face Value (₹) 10
Industry PE 18.2

Management X-Ray of Indian Sucrose :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *10.7810.7810.8210.8210.8210.8210.8210.609.058.79
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Indian Sucrose

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

News

About Indian Sucrose Ltd

Indian Sucrose was incorporated as a public company on December 12, 1990. It was promoted jointly by Punjab Agro Industries Corporation (PAIC) and Mukerian Papers. The company manufactures white crystal sugar in India. In 2005, Indian Sucrose acquired Cosmos Industries, Dhuri. The company’s plant and registered office are located at Mukeriari, Punjab and D. P. Singh is its chairman.

Indian Sucrose`s carbon credit project has successfully been registered with UNFCCC (United Nations Framework Convention on Climate Change) on March 16, 2007. With this, the company entered into the list of few successfully registered CDM projects in India and now is eligible to accrue and sell the carbon credits.

The securities of the company have been delisted from the Bangalore Stock Exchange with effect from July 09, 2007.

Business areas of the company:

The company’s principal activity is to manufacture and exports White Crystal Sugar and its allied by product Mollases, Bagasse, Alcohol and other Chemicals extracted from Sugar, also Manures, Breweries, Distilleries and manufacturers of all kinds of Preserved food, Sauces, Jams, Alcoholic and Non Alcoholic Drinks and Pharmaceuticals, Sugar Cane, Sugar Beet and other Agricultural Products.

Milestones:

  • 1990 -The company was incorporated as a public limited Company on 12th December, and the Certificate of Commencement of business was obtained on 18th December.  It was originally promoted jointly by Punjab Aro Industries Corporation (PAIC) and Mukerian Papers. Subsequently Mukerian Papers its nominee Companies including Malwa Cotton Spinning Mills and Punjab Woolcomber took over the Control of the Company. 
  • 1992 - The Company had set up a plant for the manufacture of white crystal sugar with an installed capacity of 2500 TCD, expandable upto 3500 TCD at Punjab.  The plant had also certain additional facilities like co-generation of power to the extent of 6.6 M.W. Commercial production was commenced from 1st November. 
  • 1993 - Sales amounted to Rs 37.40 crores.  The production of sugar was 22,282 tonnes at an average recovery of 8.89%. 
  • 1994 - Sales decreased to Rs 29.56 crores due to low capacity utilisation on account of less availability of sugarcane and market depression due to large scale import of sugar. Production during the year amounted to 23,640 tonnes at an average recovery of 8.96%. The Company proposed to increase the sugar plant capacity to3,500 TCD by modification in the existing plant and was also planning for forward integration by setting up a plant for manufacturing of Ethyl Alcohol from Molasses. 
  • 1995 -Sales increased to Rs 39.57 crores.  Production amounted to 36,805 tonnes in 146 crushing days.  The overall performance of the Company was severely affected due to increase in input cost and decrease in selling price of finished products. 
  • 1996 -The company produced 49,998 tonnes of sugar in 209 crushing days. 
  • 2005- Delist securities from the Ahmedabad Stock Exchange (ASE) with effect from July 11, 2005.Indian Sucrose acquires Cosmos Industries Ltd, Dhuri
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