K.M. Sugar Mills Ltd - Stock Valuation and Financial Performance

BSE: 532673 | NSE: KMSUGAR | Sugar | Small Cap

KM Sugar Mills Share Price

28.45 0.22 0.78%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on KM Sugar Mills

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

1. Quality

2. Valuation

Fair

3. Price Trend

K.M. Sugar Mills stock performance -

mw4me loader
P/E Ratio (SA):
12.33
Market Cap:
259.7 Cr.
52-wk low:
22.8
52-wk high:
39.2

Is K.M. Sugar Mills Ltd an attractive stock to invest in?

1. Is K.M. Sugar Mills Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that K.M. Sugar Mills Ltd is a below average quality company.

2. Is K.M. Sugar Mills Ltd undervalued or overvalued?

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

3. Is K.M. Sugar Mills Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of K.M. Sugar Mills 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 KM Sugar Mills:

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.
K.M. Sugar Mills Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Sep'13Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 21%12%16.3%26%13.7%12.8%9.7%9.5%11.1%6.4%-
Value Creation
Index
0.5-0.20.20.90.0-0.1-0.3-0.3-0.2-0.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 273367353336463390531503548576625
Sales YoY Gr.-34.6%-3.8%-4.7%37.7%-15.7%36.2%-5.4%9.1%5%-
Adj EPS 1.30.51.33.922.623.24.52.52.3
YoY Gr.--60.6%142.3%211.9%-48.1%28.9%-24.3%58.3%41.6%-44.2%-
BVPS (₹) 1.11.33.17.19.218.420.416.620.823.325.5
Adj Net
Profit
12.24.811.636.118.824.218.32941.12321
Cash Flow from Ops. -13.24.872.35.3728.1-3.27.15.373.1-
Debt/CF from Ops. -8.520.31.326.81.413.3-54.628.342.13.7-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 8.7%4.5%2.7%5%
Adj EPS 7.3%4.1%7.8%-44.2%
BVPS41%20.5%4.6%12%
Share Price 38.4% 25.2% 33.3% 22.2%

Key Financial Parameters

Performance Ratio Colour Code Guide

Sep'13Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
322.152.150.176.625.119.110.314.517.68.79.4
Op. Profit
Mgn %
11.85.58.513.73.79.79.511.913.48.68.8
Net Profit
Mgn %
4.51.33.310.84.16.23.55.87.543.4
Debt to
Equity
11.58.43.32.21.20.60.91.31.21.3-
Working Cap
Days
87113228238181243225281298279113
Cash Conv.
Cycle
60585712473105811421451427

Recent Performance Summary

No data to display

Return on Equity has declined versus last 3 years average to 9.40%

Sales growth has been subdued in last 3 years 2.70%

Net Profit has been subdued in last 3 years 7.76%

Debt to equity has increased versus last 3 years average to 1.25

Sales growth is not so good in last 4 quarters at 8.83%

Latest Financials - K.M. Sugar Mills Ltd.

Standalone Consolidated
TTM EPS (₹) 2.3 2.3
TTM Sales (₹ Cr.) 625 625
BVPS (₹.) 25.5 25.5
Reserves (₹ Cr.) 217 217
P/BV 1.11 1.11
PE 12.33 12.33
From the Market
52 Week Low / High (₹) 22.83 / 39.20
All Time Low / High (₹) 0.96 / 44.95
Market Cap (₹ Cr.) 260
Equity (₹ Cr.) 18.4
Face Value (₹) 2
Industry PE 14.5

Management X-Ray of KM Sugar Mills:

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

Key Ratios of KM Sugar Mills

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSSep'13Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales273550353336463390531503548576
Operating Expenses 240520323290446352481447475526
Manufacturing Costs15373022232623283440
Material Costs210438260239394288393364399432
Employee Cost 814912121214141418
Other Costs 7302317172651412835
Operating Profit 32303046173850567350
Operating Profit Margin (%) 11.8%5.5%8.5%13.7%3.7%9.7%9.4%11.1%13.3%8.6%
Other Income 3761137141151011
Interest 1314171011818111214
Depreciation 914910131215151516
Exceptional Items 0000000000
Profit Before Tax 1391037293228345631
Tax 02-20108108148
Profit After Tax 1371237192418264123
PAT Margin (%) 4.6%1.4%3.3%11.0%4.1%6.2%3.5%5.2%7.6%4.0%
Adjusted EPS (₹)1.40.81.34.02.12.62.02.94.52.5
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%4%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSSep'13Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 1018296684169187213252275
Share Capital 18181818181818181818
Reserves -8-1104766151169195234257
Minority Interest0000000000
Debt931256912389101149179210242
Long Term Debt34343327323644402650
Short Term Debt599136965865105139184191
Trade Payables141259592110185119176134130
Others Liabilities 36607797364577626064
Total Liabilities 153327270378319500532631656711

Fixed Assets

Gross Block192220226269281352374382394465
Accumulated Depreciation141155165173187199213224235251
Net Fixed Assets5165619594153160158159214
CWIP 4000070805
Investments 003871527243063
Inventories77192155226163266268361383353
Trade Receivables932271722272120156
Cash Equivalents 348111495696
Others Assets10341621182351546163
Total Assets 153327270378319500532631656711

Cash Flow

(All Figures are in Crores.)
PARTICULARSSep'13Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -137725728-37573
PBT 1391037293228345631
Adjustment 21242518-71627282119
Changes in Working Capital -47-2537-4257-35-53-49-5833
Tax Paid 0-10-7-7-5-5-5-14-11
Cash Flow From Investing Activity -5-23-9-46-11-24-28-21-12-105
Capex -6-24-6-42-12-17-16-21-8-76
Net Investments 00-3-51-8-120-5-31
Others 1101010011
Cash Flow From Financing Activity 1817-6043-58103016930
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -1813-11-688-7-2335
Interest Paid -10-16-9-6-14-5-19-11-11-13
Dividend Paid 00000000-20
Others 4632-5460-3874034458
Net Cash Flow 01422-6-123-3
PARTICULARSSep'13Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)361.8755.1150.7678.8125.1719.1510.3515.4324.0911.43
ROCE (%)25.4616.2118.7128.4620.6817.2214.3612.6517.610.06
Asset Turnover Ratio2.222.371.221.091.350.951.030.860.850.84
PAT to CFO Conversion(x)-1160.143.790.33-0.170.270.123.17
Working Capital Days
Receivable Days1013292215231715117
Inventory Days6486174197151201183228248234
Payable Days205815414394187141148142112

K.M. Sugar Mills Ltd Stock News

K.M. Sugar Mills Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of KM Sugar Mills on 28-Mar-2024 16:01 is ₹28.45.
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 28-Mar-2024 16:01 the market cap of KM Sugar Mills stood at ₹259.7.
The latest P/E ratio of KM Sugar Mills as of 28-Mar-2024 16:01 is 12.33.
The latest P/B ratio of KM Sugar Mills as of 28-Mar-2024 16:01 is 1.11.
The 52-week high of KM Sugar Mills is ₹39.20 and the 52-week low is ₹22.83.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of KM Sugar Mills is ₹624.8 ( Cr.) .

About K.M. Sugar Mills Ltd

K M Sugar Mills Ltd. (KMSML) was originally formed as a partnership firm in 1950, known as Kamlapat Motilal at Kanpur; the founder partners were Singhanias and Jhunjhunwalas and they had set up a small sugar milling plant at Kanpur in the year 1942. The mill experienced acute shortage of cane and consequently the plant was shifted to the present site at village Masodha, P.O Motinagar, Dist. Faizabad between 1949 and 1950.

During the year 1971 the firm was converted into Private Limited Company known as K. M. Sugar Mills (Pvt.) Ltd., and got registered with the Registrar of Companies, Uttar Pradesh, Kanpur. The company became a deemed public company in the year 1974 in terms of provisions 43A of the Companies Act. The company was converted back to a Private Limited Company under section 43A (2A) of the Companies Act. in the year 2002. The company was again converted into a public limited company with effect from April 20, 2005

At the time of the conversion of the firm into a Private Limited Company in 1971, L. K. Jhunjhunwala joined as Managing Director. During the year 1979, Singhanias transferred their stake in the company to Jhunjhunwalas.

The company expanded the sugar cane crushing capacity from 1800 TCD to 2500 TCD in the year 1980 and crushing capacities were increased from 2500 TCD to 3500 TCD in the year 2000 and further to 4500 TCD in the year 2002. The company is now planning to increase its capacity upto 6500 TCD.

The company started a gas division for manufacturing of Industrial Oxygen Gas and Liquid Nitrogen in the year 1988 and the gas division was expanded to manufacture Dissolved Acetylene Gas in the year 2000. The technology of the gas division became obsolete over a period of time and management decided to close down this division in the year 2005.

The distillery division of company was set up in the year 1995 to manufacture Rectified Spirit (45 KLPD) and Extra Neutral Alcohol (20 KLPD). In the year 2003 the division started production of ethanol (30KLPD) and in the year 2004 the Extra Neutral Alcohol plant was modified to produce ethanal and thereby increasing the total ethanol production capacity to 50 KLPD.

The company started production of Bio-Fertilizer using the byproduct of the sugar and distillery division i.e. press mud and spent wash in the year 2000.The company has also received the ISO 9001:2000 certification in 2003 for manufacture of white sugar.

The present management of KMSM is vested with the board of directors comprising Mr. L. K. Jhunjhunwala as the chairman, Mr. Aditya Jhunjhunwala as Managing Director and Mr. Sanjay Jhunjhunwala as Jt. Managing Director and other directors as mentioned under the heading ‘Management’.

P.C. Jhunjhunwala was one of the promoters of the company. He shifted his base in early eighty’s to Mumbai to concentrate on his other business interests. Though he continued to be on the board as Non Executive Director, he did not take active interest in the business of the company due to his other business interests.

Product range of the company includes:

Sugar Unit

White Plantation Sugar: The company has sugar manufacturing facility in Faizabad district of Uttar Pradesh. The present capacity of the plant is 4500 TCD. The company manufactures and sells three grades of sugar viz. L 31, M 31 & S 31, made from white plantation sugarcane.They are in the process of the increasing the crushing capacities from 4500 TCD to 6500 TCD.The company manufactures White Crystal Sugar which is used for human consumption and in the industries like food and bevarage, soft drinks etc.

Refining of raw sugar: Apart from manufacturing sugar from sugar cane, the company has also set up sugar refining facilities. The company imported 10,000 MT of duty free raw sugar and converted it into white crystal sugar during the period January 2005 to April 2005. The company does not envisage any problem in meeting its export obligation.

Distillery Unit - KMSML has its own distillery unit of capacity 45 KLPD and manufactures Rectified Spirit, Ethanol and Extra Neutral Alcohol (ENA) at its facility at Motinagar, Faizabad. Out of total production of rectified spirit 85% is grade-I quality and 15% is Grade-II.

Bio Compost Unit

The Bio Compost unit manufactures bio fertilizer which is marketed in the name of ‘Moti Super’. The Bio Fertiliser is manufactured by utilizing the by-product of sugar unit, i.e. Press Mud and the  by-product of Distillery division, i.e. spent wash along with culture.The Bio Fertiliser is manufactured in their own plant with a process called ‘Triochem’ process, which takes around 45 days for converting press mud into bio-compost.

Ethanol- Ethanol is used for mixing in petrol. Presently in India 5% ethnol is allowed for mixing with petrol. Fuel Grade Ethanol Plant at Ahmednagar, Maharashtra.The company also proposes to set up a 60 KLPD Fuel Grade Ethanol plant in Ahmednagar, District, Maharashtra, at a total cost of Rs. 500 lacs.

Achievements/ recognition:

The company has also received the ISO 9001:2000 certification in 2003 for manufacture of white sugar.

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