NSE: MAGADSUGAR · BSE: 540650
MAGADH SUGAR & ENERGY LTD
Manufactures sugar and recovers molasses-based alcohol through an attached distillery, while burning bagasse in captive boilers to generate power. Sugar is the core line, contributing 1,091.05 crore of FY26 YTD revenue (74.6% of segment revenue) with an EBIT of 84.68 crore. The distillery segment turned in 297.92 crore (20.4% share) and 33.98 crore EBIT by converting a by-product of sugar milling into potable and industrial alcohol. Co-generation of power from bagasse, the fibrous residue left after cane crushing, added 74.25 crore (5.1% share) and 18.00 crore EBIT, and is used partly for captive use with surplus exported. Materials accounted for 66.1% of revenue in FY26, reflecting the dominance of sugarcane as the principal input, while employee cost was 5.6% and other operating expenses 10.3%. Depreciation was 2.4% of revenue and capex ran at 6.9% of revenue. The company's long-term bank facilities of Rs 826 crore carry a CARE A+ rating with a Stable outlook, reaffirmed in July 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Sugar (75%), Distillery (20%), Co-generation (5%). Cyclical, agro-based sugar manufacturing with downstream distillation and captive power.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 995 | 953 | 1,097 | 1,322 | 1,245 |
| EBITDA (ex other income) | 124 | 131 | 213 | 211 | 146 |
| margin % | 12.5 | 13.7 | 19.4 | 15.9 | 11.8 |
| Owners' profit | 46 | 50 | 116 | 109 | 64 |
| EPS, as reported (₹) | 32.66 | 35.67 | 82.61 | 77.67 | 45.07 |
| ROE % · ROCE % | 7.7 · 13.7 | 7.9 · 13.2 | 15.6 · 21.8 | 13.1 · 17.5 | 7.2 · 10.7 |
| Debt / equity (x) | 1.06 | 0.91 | 0.85 | 0.85 | 0.79 |
| Cash from operations | 147 | 115 | 31 | 139 | 148 |
| Capex | (107) | (22) | (48) | (152) | (86) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 324 | 284 | 355 | 333 | 324 | 296 | 291 | 311 |
| Profit before tax | 7 | 28 | 96 | 0 | (14) | 35 | 64 | (16) |
| Net profit | 5 | 21 | 72 | 0 | (10) | 25 | 49 | (12) |
| EPS (₹) | 3.81 | 15.00 | 50.75 | 0.16 | (7.35) | 17.80 | 34.46 | (8.67) |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| SUGAR | 790 | 54.0 |
| DISTILLERY | 226 | 15.5 |
| CO-GENERATION | 74 | 5.1 |
| Sugar | 301 | 20.6 |
| Distilery | 71 | 4.9 |
| Total, before eliminations | 1,463 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BALRAMPUR CHINI MILLS LTD | 13,331 | 34.4 | 3.22 | 21.2 | 9.1 | 9.7 | 5.4 | 7.9 |
| TRIVENI ENGG. & INDS. LTD | 4,955 | 17.6 | 1.48 | 11.6 | 8.0 | 9.4 | 10.1 | 3.3 |
| BAJAJ HINDUSTHAN SUGAR LT | 4,237 | 13.1 | 1.11 | 20.6 | 3.3 | 1.5 | (3.9) | (10.4) |
| BANNARI AMMAN SUGARS LTD | 3,944 | 32.4 | 2.06 | — | 7.7 | 8.7 | — | 0.5 |
| SHREE RENUKA SUGARS LTD | 3,894 | — | — | 70.7 | 29.6 | (108.2) | 10.2 | (3.1) |
| DALMIA BHARAT SUG IN LTD | 3,284 | 13.7 | 1.02 | 9.1 | 7.3 | 8.0 | 6.1 | 8.3 |
| UTTAM SUGAR MILLS LTD. | 1,202 | 13.8 | 1.35 | 8.1 | 11.3 | 12.7 | — | 4.5 |
| DHAMPUR SUGAR MILLS LTD. | 1,064 | 15.2 | 0.89 | 9.8 | 5.5 | 5.8 | (7.9) | 4.7 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 13.8 | 14.5 | 10 of 20 | 53% |
| P/B | 0.8 | 0.9 | 11 of 26 | 60% |
| ROCE | 7.5 | 3.0 | 9 of 27 | 69% |
| ROE | 7.2 | 3.5 | 11 of 26 | 60% |
| Debt / Equity | 0.8 | 0.6 | 19 of 26 | 28% |
| EBITDA margin | 0.5 | 4.6 | 19 of 26 | 28% |
| Revenue growth | (6.8) | 5.5 | 18 of 25 | 29% |
| Profit growth | (5593.8) | (14.4) | 27 of 27 | 0% |
| Market cap | 707 | 282 | 11 of 28 | 63% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 6 Oct 2026 · Routine compliance certificate for securities dematerialisation | compliance | minimal | — | — |
| 28 Sept 2026 · Trading Window Closure from Oct 1 for Q2 Results | compliance | minimal | — | — |
| 23 Sept 2026 · Postal Ballot result: Lt. Gen. Rakesh Kapoor approved as Independent Director | board shareholder meetings | medium | — | — |
| 23 Sept 2026 · Appointment of Lt Gen Rakesh Kapoor as Independent Director approved via Postal Ballot | board shareholder meetings | medium | — | — |
| 26 Aug 2026 · Special Window Open for Physical Share Transfer and Demat | compliance | minimal | — | — |
| 25 Aug 2026 · Postal Ballot Notice for Independent Director Appointment | compliance | minimal | — | — |
| 24 Aug 2026 · Postal Ballot: Appointment of Lt Gen Rakesh Kapoor as Independent Director | board shareholder meetings | low | — | — |
| 5 Aug 2026 · Q1 FY27 results: net loss of about Rs 12.22 cr vs profit YoY | compliance | minimal | — | — |
| 5 Aug 2026 · Magadh Sugar Q1 FY26-27 results swing to net loss of Rs 12.22 cr | compliance | minimal | — | — |
| 4 Aug 2026 · Magadh Sugar Q1FY27: Revenue down 7%, EBITDA down 93%, PAT loss of Rs 12 Cr | investor communications | medium | — | — |
How to read this document
| 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 | 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 |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.