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Dalmia Bharat Sugar and Industries Ltd

₹ 277-1.72%
16 Jan 2:17 p.m. – close price
🔗dalmiasugar.com•BSE: 500097•NSE: DALMIASUG
Market Cap₹ 2,245 Cr.
Current Price₹ 277
High / Low₹ 465
Stock P/E6.84
Book Value₹ 399
Dividend Yield2.17 %
ROCE9.48 %
ROE12.4 %
Face Value₹ 2.00
Sales₹ 3,789 Cr.
OPM11.6 %
Mar Cap₹ 2,245 Cr.

ABOUT

Dalmia Bharat Sugar & Industries is mainly engaged in manufacturing of sugar, generation of power, manufacturing of Industrial alcohol and manufacturing of refractory products.[1]The company is among the youngest and largest sugar companies in India. Its is the fastest-growing sugar company with its presence in UP and Maharashtra.

KEY POINTS

Revenue Mix FY23Sugar - 67%Distillery - 23%History**[1]DBSIL, a part of the Dalmia Bharat Group is a leading Indian sugar producer. In 1994, Company entered the sugarindustry by establishing 2500 TCD capacity sugar mill in UP.

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsAsset Base ExpansionCapacity Expansion And ProductsJv Partnerships AcquisitionsCredit Rating UpdatesRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.Balrampur Chini417.3020.838427.360.8253.89-19.781670.7628.7210.165908.8612.59405.0553.892.185.970.20
2.Triven.Engg.Ind.332.0027.787267.430.7421.38234.901706.1514.438.656201.988.14261.4325.902.394.220.25
3.Sh.Renuka Sugar25.01–5323.370.00-369.30-1552.912422.80-5.5910.649727.400.23-743.60-368.60–-3.08–
4.Bannari Amm.Sug.3558.0036.594461.620.3642.7024.60571.6520.678.681905.5711.86121.9242.702.454.490.01
5.M.V.K. Agro665.00332.853358.500.004.4420.3351.59-8.379.90145.0212.9810.094.4424.723.410.89
6.Bajaj Hindusthan17.58–2245.630.00-105.25-39.631157.19-0.211.155435.023.32-162.05-105.070.60-0.160.87
7.Dalmia Bharat277.356.842244.852.1723.32-56.29988.727.439.483788.7311.56328.4023.320.707.650.17
–Median: 31 Co.71.611.48449.660.0-6.594.4245.932.697.671296.56.3915.06-6.590.72.120.41

Quarterly Results

Standalone figures in ₹ crores

Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales
5796001,1498347325847509609208411,018941989
Expenses
572488941715666474631849853744823851932
Operating Profit
71122081186510911911167981949056
Other Income
4123129562437161323201120
Profit before tax
13931768774931077536761615331
Tax %
8%31%30%30%26%33%14%27%-48%22%-28%25%25%
Net Profit
1265124615562915553602063923
EPS in Rs
1.458.0215.357.586.797.6811.296.776.597.3625.504.852.88

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
1,1901,1501,1661,6862,2442,0182,1102,6853,0073,2522,8993,7463,789
Expenses
1,0831,0379391,3072,0101,7811,7722,2132,5392,8152,4873,2763,351
Operating Profit
108113227378234237338472467437412470438
Other Income
201621243787605348771287474
Interest
767887102696988623538506352
Depreciation
4951113565452579695121127131140
Profit before tax
3047244148204252368386355363350321
Net Profit
3158187134187198270295250272387328
EPS in Rs
0.370.187.2223.0916.5823.1624.4833.3136.5130.9133.6847.8140.59
Dividend Payout %
-0%-0%8%9%-0%7%8%9%11%13%15%13%–

Compounded Sales Growth

10 Years:13%
5 Years:12%
3 Years:8%
TTM:18%

Compounded Profit Growth

10 Years:60%
5 Years:14%
3 Years:10%
TTM:26%

Stock Price CAGR

10 Years:16%
5 Years:15%
3 Years:-9%
1 Year:-24%

Return on Equity

10 Years:12%
5 Years:11%
3 Years:10%
Last Year:12%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
16161616161616161616161616
Reserves
4454424951,2341,4331,5341,5922,0742,3432,6892,9163,2183,209
Borrowings
8129311,1381,2147761,0371,2779588194541,4301,044547
Other Liabilities
444443411459632620642629645644800585462
Total Liabilities
1,7161,8332,0592,9232,8573,2073,5283,6773,8223,8035,1624,8634,234
Fixed Assets
7677467521,2801,2931,3161,3531,3081,5311,6521,8471,8041,600
Gross Block
1,252.191,289.311,408.091,980.112,047.192,149.312,238.032,287.792,562.872,803.673,269.223,344.62–
Accumulated Depreciation
484.89543.18655.73700.36753.98833.18885.25979.761,031.761,151.671,422.551,540.75–
CWIP
1328627116275921133188212
Investments
7883922754352884475635947366295831,040
Other Assets
8589761,2091,3661,1221,5921,7221,7781,6391,3932,5542,2891,383
Total Assets
1,7161,8332,0592,9232,8573,2073,5283,6773,8223,8035,1624,8634,234

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
267-11-2476659-220209346567583-239450
Cash from Investing Activity
-185-43-77-65-131-30-32936-327-192-257-108
Cash from Financing Activity
-61421122-528219145-364-217-419902-480
Net Cash Flow
21-1311131-31251823-29405-137

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
62533241237291619171513
Inventory Days
252310476367161284345274213163329222
Days Payable
11313312562921091025443337127
Cash Conversion Cycle
14420238432981212272237188147273208
Working Capital Days
16450342082456467814598
ROCE %
6%5%8%17%9%11%12%14%14%12%10%9%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
74.91%74.91%74.91%74.91%74.92%74.92%74.92%74.92%74.92%74.92%74.92%74.92%
FIIs
1.01%1.03%0.90%0.97%1.07%1.03%0.96%1.02%0.89%0.75%1.08%0.97%
DIIs
0.07%0.06%0.06%0.08%0.08%0.09%0.09%0.05%0.05%0.05%0.05%0.05%
Public
23.84%23.82%23.96%23.88%23.78%23.81%23.87%23.85%23.99%24.11%23.77%23.89%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Dalmia Bharat Sugar Closes Trading Window from April 1 for Q4 Results

24th March 2026, 6:37 pm

PNGS Reva Diamond Jewellery Lists on Exchanges; Reports Q3 Results; Dalmia Sugar Opens Share Transfer Window

16th March 2026, 11:14 pm

Dalmia Bharat Sugar Appoints Sandeep Garg as New CFO, Succeeding Piyush Gupta

5th March 2026, 4:27 pm

Dalmia Bharat Sugar Appoints Sandeep Garg as New CFO; Piyush Gupta Resigns

5th March 2026, 4:25 pm

Dalmia Bharat Sugar Amends Fair Disclosure Code for UPSI Compliance

10th February 2026, 12:14 am

Published by Other Websites

External media mentions & references

Sugar Stocks Soar 12% as Crude Rally Boosts Ethanol, Export Hopes

30th March 2026, 12:14 pm

Sugar Stocks Jump on 87K Tonne Export Quota; EID Parry, Dhampur Lead Gainers

17th March 2026, 12:01 pm

Dividend Rush: 30+ Indian Stocks Turn Ex-Dividend Next Week

6th February 2026, 1:04 pm

Sweet Surge! Govt Sweetens Sugar Stocks: Exports Boosted, Duties Axed - What It Means For Your Portfolio!

12th November 2025, 11:03 am

Dalmia Bharat Sugar Reports 56.3% Drop in Net Profit for Q2 FY26 Amidst Revenue Growth

4th November 2025, 8:29 pm

News Articles

Editorial & research coverage

Dalmia Bharat Sugar Posts Q3 Profit Jump, Declares ₹4.50 Dividend Amid Revenue Drop
Dalmia Bharat Sugar Posts Q3 Profit Jump, Declares ₹4.50 Dividend Amid Revenue Drop
Dalmia Bharat Sugar Posts Robust Q3 Profit Jump, Declares Rs 4.5 Dividend
Dalmia Bharat Sugar Posts Robust Q3 Profit Jump, Declares Rs 4.5 Dividend

Documents

Announcements

Disclosure Pursuant To Regulation 30(7) Of SEBI (LODR) Regulations, 2015 ('SEBI Listing Regulations').

8 Jan - Allotment of 51% shares in EAHL approved by ADGM; EAHL is Dalmia subsidiary effective Dec 18, 2025

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

5 Jan - Certificate under Regulation 74(5) of SEBI (Depository Participants)Regulations, 2018.

Closure of Trading Window
Apportionment Of Cost Of Acquisition Of Equity Shares Of Dalmia Bharat Sugar And Industries Limited And Dalmia Bharat Refractories Limited.

18 Dec - Post-demerger cost apportionment 94.55%/5.45% after NCLT-sanctioned demerger; Record Date Oct 31, 2025.

Announcement under Regulation 30 (LODR)-Credit Rating

12 Dec 2025 - ICRA reaffirmed A1+ and enhanced Dalmia Bharat Sugar's CP limit to Rs1000 crore on Dec 12, 2025.

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

(from bse)

Financial Year 2018

(from bse)

Financial Year 2017

(from bse)

Financial Year 2016

(from bse)

Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from bse)

Financial Year 2012

(from bse)

Financial Year 2011

(from nse)

Credit Ratings

Rating update

12 Dec 2025 from icra

Rating update

24 Nov 2025 from icra

Rating update

11 Sep 2025 from icra

Rating update

9 Jul 2025 from care

Rating update

24 Jan 2025 from icra

Rating update

26 Dec 2024 from fitch

Concalls

May 2025

PPT

Stock Analysis

Description

Dalmia Bharat Sugar & Industries is a leading Indian sugar producer primarily engaged in sugar manufacturing, power generation, industrial alcohol production, and refractory products, with a growing presence in UP and Maharashtra.

Key Growth Triggers

International expansion through the acquisition of Eagle Agrotech Holdings Limited (EAHL) in Abu Dhabi, which is establishing a sugarcane plantation and sugar factory in Tanzania.

Order Book

Currently no data available for Order Book.

Key Red Flags

Currently no data available for Key Red Flags.

Key Dates To Watch

  1. January 07, 2026: ADGM approval for subsidiary acquisition.
  2. December 18, 2025: Effective date of EAHL becoming a subsidiary.
  3. January 08, 2026: Disclosure date of the subsidiary status.

Corporate Announcements

24th Mar 26
Impact Rating: 6
Dalmia Bharat Sugar will close its trading window from April 1, 2026, for designated persons and relatives to comply with SEBI insider trading rules. It reopens 48 hours after Q4 FY24 results are announced.
16th Mar 26
Impact Rating: 6
PNGS Reva Diamond Jewellery listed on NSE/BSE on March 4, 2026. For the quarter ended Dec 31, 2025, it reported revenue of ₹144.18 crore and profit after tax of ₹23.11 crore. Dalmia Bharat Sugar announced a special window for physical share transfer requests until Feb 4, 2027.
5th Mar 26
Impact Rating: 6
Effective March 05, 2026, Dalmia Bharat Sugar appointed Sandeep Garg as its new CFO, taking over from Piyush Gupta who resigned due to personal reasons.
5th Mar 26
Impact Rating: 6
Dalmia Bharat Sugar announced Sandeep Garg as its new CFO starting March 05, 2026, following Piyush Gupta's resignation due to personal reasons. Garg is a Chartered Accountant with over 25 years of finance experience.
9th Feb 26
Impact Rating: 4
Dalmia Bharat Sugar and Industries Limited revised its code for handling Unpublished Price Sensitive Information, effective Feb 5, 2026, ensuring fair and timely public disclosure.