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Riga Sugar Company Ltd. Stock Analysis

Small Cap
Evaluated by 48 users | BSE: 507508 | NSE: |
Sugar
Riga Sugar Company, the flagship company of Dhanuka Group has Sugar (4500/5000 TCD), Distillery(50 KLPD), Ethanol (45 KLPD) & DAP/Organic Fertiliser factories in North Bihar (India) is located at village and railway station, Riga, on Narkatiaganj- Samastipur meter gauge section of Northern...

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'09Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Capital Employed 7.22%5.81%3.22%3.94%3.01%0.37%3.38%2.24%-4.18%-22.3%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 89.981.214819816318618018295.8155
Y-o-Y Gr. Rt.--9.7%82.8%33.4%-17.7%14.3%-3.2%1%-47.4%61.7%
Adjusted EPS (Rs.) 3.630.47-5.46-2.8-2.74-9.82-1.9-3.79-14.47-34.27
Y-o-Y Gr. Rt.--87.1%-1261.7%NANANANANANANA
Book Value per Share (Rs.) 37.8820.1322.9819.4916.46.626.03-6.21-21.02-53.18
Adjusted Net Profit 2.10.4-5-2.6-2.9-10.5-2.4-5.5-20.9-49.5
Net Op. Cash Flow (Rs. Cr.) 21.7-9.6-3.32012.725.76.629.722.733.6
Debt to Cash Flow from Ops 4.47-8.8-43.577.0911.335.3221.6356.183.81
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.
Riga Sugar Company Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 6.2%-1%-4.9%61.7%
Adjusted EPS -228.3%NANANA
Book Value per Share -203.8-226.5-306.60
Share Price -14.9% -14.2% -38% -25.8%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Sep'09Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Equity (%) 7.611.81-10.1-3.76-4.38-13.61-2.69-6.89-34.69-187.93
Operating Profit Margin (%) 18.1214.711.099.889.822.926.926.45-1.59-17.35
Net Profit Margin (%) 2.350.44-3.38-1.3-1.79-5.62-1.31-3.01-21.82-31.96
Debt to Equity 4.385.576.877.918.2619.3819.07-16.56-4.61-1.67
Working Capital Days 201286387299392381383309591381
Cash Conversion Cycle 611521561231831327332267-95
Entity Percentage Holding
Promoters 69.19%
Institutions 0.02%
Non-Institutions 30.79%
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 Riga Sugar Company Ltd.'s performance infers:

Riga Sugar Company Ltd. earnings have grown by 0%, whereas share price has depreciated -14.2% CAGR over the past five years, indicating the company's share price is likely undervalued. However, for specific investment actions please connect with your investment advisor.

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

Riga Sugar Company Ltd. share price has depreciated -17.6% annually over the past ten years.

Riga Sugar Company, the flagship company of Dhanuka Group has Sugar (4500/5000 TCD), Distillery(50 KLPD), Ethanol (45 KLPD) & DAP/Organic Fertiliser factories in North Bihar (India) is located at village and railway station, Riga, on Narkatiaganj- Samastipur meter gauge section of Northern Eastern Railway. 

SUGAR: Company’s sugar factory is one of the oldest sugar factory in India which was set-up in 1933 by The Belsund Sugar & Industries
Riga Sugar Company, the flagship company of Dhanuka Group has Sugar (4500/5000 TCD), Distillery(50 KLPD), Ethanol (45 KLPD) & DAP/Organic Fertiliser factories in North Bihar (India) is located at village and railway station, Riga, on Narkatiaganj- Samastipur meter gauge section of Northern Eastern Railway. 

SUGAR: Company’s sugar factory is one of the oldest sugar factory in India which was set-up in 1933 by The Belsund Sugar & Industries limited under British Management which was taken over by Dhanukas in 1950. Under the Scheme of Arrangement as sanctioned by Hon’ble Calcutta High Court the sugar factory was transferred w.e.f.1.10.1981 to Riga Sugar Company. The initial installed capacity of the sugar plant was 800 TCD which was increased to 1200 TCD in 1956 than increased to 2000 TCD in 1987-88. In 1995-96 the company undertaken Expansion-cum-Diversification scheme whereby the capacity of sugar plant was increases to    2500 TCD and New Distillery Plant of 50 KLPD was set-up. 

In 1999-2000 the company implemented the scheme of  Sugar Technology Mission (STM) project for Technological Upgradation-cum-Capacity Optimisation Scheme of Sugar Unit as approved by STM, Government of India at the Projected cost of 2675 Lacs and simultaneously undertaken  expansion scheme for increasing the capacity to 3500, which was completed in the season 1999-2000. Consequent to said STM Scheme the Major machineries of the sugar plant was newly installed like replacement of entire Mills, addition of Boiler, Turbine and Equipments in Boiling/Manufacturing House. 

Again in 2006-07 the company undertaken project of expansion of sugar plant to 5,000 TCD for estimated cost of Rs. 25 Crores and expansion project to 4500/5000 TCD has been completed in season 07-08 and expected to stabilize the production at enhanced capacity of 5000 TCD in 08-09.   

Distillery: The company’s 50 KLPD Distillery Plant was set-up in September, 1995 for manufacturing and marketing of Molasses based Alcohol which is of high quality and well regarded in the market.

Ethanol: The New Ethanol Plant of 45 KLPD commenced commercial operation from 4th April, 2007 and has been supplying Ethanol to Oil companies at different locations in Bihar and Jharkhand for admixing with Petrol.  

Fertiliser: The company manufacture NPK Manure under the Brand name of Harabhara Fertiliser. The company is also manufacturing Bio-Compost in the name of Krishi-Labh by using Distillery Effluents on press mud of sugar which is very useful for foodgrains, vegetable, fruits, sugarcane, tea plant etc.

Product range of the company includes:
  • Sugar 
  • Rectified Spirit 
  • Denatured Spirit
Achievements/ recognition:
  • An ISO 9001-2000 & ISO14001:2004 Certified Company


Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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