Assembled from the company's filings and exchange data as of today. Download PDF renders this page on the server; the narrative sections arrive with the Nexa composer.
Dossier · MAWANA SUGARS LIMITED · 6 November 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
Manufactures sugar from sugarcane and runs two adjacent businesses — co-generation power and distillery (ethanol) — that share the same sugarcane feedstock. Sugar is the largest segment at 77.6% of segment revenue (Rs 1,631.94 crore) in FY26, but its EBIT fell to Rs 44.56 crore from a higher base because of higher input costs. Power contributes 12.0% of segment revenue at Rs 252.89 crore with EBIT of Rs 41.36 crore, making it the most EBIT-dense segment per rupee of sales. Distillery accounts for 10.4% of segment revenue at Rs 218.57 crore with EBIT of Rs 9.69 crore. On a consolidated basis, FY26 revenue from operations was Rs 1,570.94 crore and net profit Rs 37.09 crore, with materials (largely sugarcane) making up 77.7% of revenue. The Board recommended a final dividend of Rs 4 per equity share (face value Rs 10) for FY26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Sugar (78%), Power (12%), Distillery (10%). Cyclical, commodity-driven integrated sugar manufacturer with co-generation power and distillery.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
₹ crore · consolidated
FY22
FY23
FY24
FY25
FY26
Revenue
1,478
1,482
1,355
1,446
1,571
EBITDA (ex other income)
100
76
90
183
99
margin %
6.7
5.1
6.7
12.7
6.3
Owners' profit
26
13
38
109
37
EPS, as reported (₹)
6.69
3.36
9.63
27.97
9.48
ROE % · ROCE %
6.8 · 14.6
3.4 · 10.7
9.2 · 19.7
22.2 · 31.6
7.1 · 13.4
Debt / equity (x)
1.08
0.99
1.38
0.85
0.80
Cash from operations
(151)
108
(164)
114
73
Capex
(11)
(35)
(30)
(21)
(33)
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · MAWANA SUGARS LIMITED · 6 November 2026Page 2 of 3
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
383
334
343
401
429
367
374
416
Profit before tax
(27)
83
78
(18)
(22)
5
84
(31)
Net profit
(20)
73
62
(14)
(16)
4
63
(23)
EPS (₹)
(5.16)
18.54
15.77
(3.46)
(4.12)
1.01
16.06
(5.90)
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Segment revenue, FY26
Segment
Revenue, ₹ crore
Share %
Sugar
1,639
77.7
Power
253
12.0
Distillery
219
10.4
Total, before eliminations
2,110
100.0
Source: the filed segment block, four quarters summed.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · MAWANA SUGARS LIMITED · 6 November 2026Page 3 of 3
Exhibit 4: Filings of the last 90 days, with the measured price reaction
Date · filing
Category
Importance
Next day %
5-day %
6 Nov 2026 · Cane crushing begins for the 2026-27 season
business updates
medium
—
—
29 Oct 2026 · Board meeting set for September 2026 quarterly and half-year results
results
low
—
—
7 Oct 2026 · Compliance Certificate under SEBI Regulation 74(5) for Q2 FY26
compliance
minimal
—
—
6 Oct 2026 · GST demand of Rs 4.83 lakh plus penalty set aside in company's favor
regulatory legal
high
—
—
28 Sept 2026 · Clarification on unusual volume movement in shares
regulatory legal
medium
—
—
28 Sept 2026 · BSE seeks clarification from Mawana Sugars on volume movement
compliance
minimal
—
—
26 Sept 2026 · Volume spurt clarification: no material event reported
regulatory legal
medium
—
—
25 Sept 2026 · NSE seeks clarification from Mawana Sugars on unusual volume spike
regulatory legal
medium
—
—
25 Sept 2026 · Trading window closure from October 1 for Q2 results
compliance
minimal
—
—
25 Sept 2026 · Newspaper Notice on SEBI Special Window for Physical Share Dematerialisation
compliance
minimal
—
—
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
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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.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
