Manufactures sugar and ethanol from sugarcane in Uttar Pradesh through 3 sugar mills and 2 distilleries, with an attached 94 MW cogeneration plant that sells surplus power to UPPCL. The sugar segment contributed 78.9% of segment revenue in FY26 at Rs 1,277.26 crore with EBIT of Rs 30.77 crore; the distillery segment (molasses-to-ethanol) contributed 21.1% at Rs 342.45 crore with EBIT of Rs 32.78 crore. FY26 sugar operations were squeezed by 8% lower cane crushing at 24.32 lakh tonnes and a Rs 30/quintal rise in the state-advised cane price, while distillery revenues were hit by weak ethanol off-take from oil marketing companies. Installed capacity stands at 21,500 tonnes of cane per day (TCD) of crushing and 337.5 kilo-litres per day of ethanol output, and the unit engages roughly 1.5 lakh farmers for cane procurement. Raw materials, chiefly sugarcane and molasses, made up 73.3% of revenue, with employees at 8.0% and other operating expenses at 7.4%. FY26 total revenue was Rs 1,401.94 crore with EBITDA margin of 6.7% and net profit of Rs 30.84 crore; the sugar season ended early in March 2026, leaving no crushing in Q1 FY27. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Sugar (79%), Distillery (21%). Cyclical, commodity-linked sugar and ethanol producer with regulatory exposure to cane SAP and ethanol pricing
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,974 | 2,103 | 1,710 | 1,359 | 1,402 |
| EBITDA (ex other income) | 291 | 215 | 205 | 113 | 87 |
| margin % | 14.7 | 10.2 | 12.0 | 8.4 | 6.2 |
| Owners' profit | 155 | 105 | 84 | 23 | 31 |
| EPS, as reported (₹) | 8.24 | 5.57 | 4.44 | 1.26 | 1.66 |
| ROE % · ROCE % | 23.1 · 27.9 | 14.2 · 18.2 | 10.2 · 15.9 | 2.9 · 7.2 | 3.7 · 5.9 |
| Debt / equity (x) | 0.77 | 0.50 | 0.55 | 0.62 | 0.40 |
| Cash from operations | 352 | 314 | 13 | 61 | 129 |
| Capex | (0) | (99) | (51) | (12) | (7) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 246 | 313 | 459 | 405 | 246 | 325 | 425 | 358 |
| Profit before tax | (36) | 16 | 88 | (13) | (53) | 27 | 82 | (34) |
| Net profit | (24) | 11 | 46 | (9) | (33) | 15 | 57 | (26) |
| EPS (₹) | (1.29) | 0.58 | 2.50 | (0.51) | (1.76) | 0.83 | 3.10 | (1.39) |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Sugar | 1,277 | 78.9 |
| Distilliery | 132 | 8.1 |
| Distillery | 210 | 13.0 |
| Total, before eliminations | 1,620 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BALRAMPUR CHINI MILLS LTD | 14,641 | 37.8 | 3.54 | 22.9 | 9.1 | 9.7 | 5.4 | 7.9 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Sept 2026 · Newspaper publication on special window for physical share dematerialisation | compliance | minimal | — | — |
| 24 Aug 2026 · Clarification on share price movement | regulatory legal | medium | — | — |
| 21 Aug 2026 · BSE seeks clarification on price movement from Dwarikesh Sugar | regulatory legal | high | — | — |
| 6 Aug 2026 · Dwarikesh Sugar AGM: All 6 Resolutions Passed, Dividend Approved | compliance | minimal | — | — |
| 6 Aug 2026 · All 6 resolutions passed at 32nd AGM; dividend declared | board shareholder meetings | low | — | — |
| 6 Aug 2026 · Shareholders approve re-appointment of Gautam R Morarka as Executive Chairman | management changes | medium | — | — |
| 6 Aug 2026 · Dwarikesh Sugar holds 32nd AGM; six resolutions passed including dividend | board shareholder meetings | low | — | — |
| 6 Aug 2026 · 32nd AGM held; dividend declared, Chairman reappointed | board shareholder meetings | medium | — | — |
| 29 Jul 2026 · Dwarikesh Sugar Q1 FY27 Results: Net Loss Widens to Rs 25.7 Crore | compliance | minimal | — | — |
| 28 Jul 2026 · Dwarikesh Sugar Q1 FY27 Investor Presentation: Loss Widens | investor communications | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| TRIVENI ENGG. & INDS. LTD |
| 5,649 |
| 20.0 |
| 1.69 |
| 12.7 |
| 8.0 |
| 9.4 |
| 10.1 |
| 3.3 |
| SHREE RENUKA SUGARS LTD | 5,284 | — | — | 79.6 | 29.6 | (108.2) | 10.2 | (3.1) |
| BAJAJ HINDUSTHAN SUGAR LT | 4,969 | 15.4 | 1.30 | 22.5 | 3.3 | 1.5 | (3.9) | (10.4) |
| BANNARI AMMAN SUGARS LTD | 4,362 | 35.8 | 2.28 | — | 7.7 | 8.7 | — | 0.5 |
| DALMIA BHARAT SUG IN LTD | 3,384 | 14.1 | 1.05 | 9.3 | 7.3 | 8.0 | 6.1 | 8.3 |
| UTTAM SUGAR MILLS LTD. | 1,065 | 12.2 | 1.20 | 7.5 | 11.3 | 12.7 | — | 4.5 |
| DHAMPUR SUGAR MILLS LTD. | 1,054 | 15.0 | 0.88 | 9.8 | 5.5 | 5.8 | (7.9) | 4.7 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 57.5 | 11.4 | 24 of 24 | 0% |
| P/B | 1.0 | 1.0 | 13 of 26 | 52% |
| ROCE | 4.4 | 3.0 | 12 of 27 | 58% |
| ROE | 3.7 | 3.7 | 14 of 27 | 50% |
| Debt / Equity | 0.4 | 0.6 | 12 of 27 | 58% |
| EBITDA margin | (6.6) | 4.6 | 23 of 26 | 12% |
| Revenue growth | (11.7) | 5.5 | 22 of 25 | 13% |
| Profit growth | (174.2) | (14.4) | 25 of 27 | 8% |
| Market cap | 831 | 313 | 9 of 28 | 70% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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