Bajaj Hindusthan Sugar Ltd

₹ 30.8 -0.84%

26 Dec 4:01 p.m.

bajajhindusthan.com BSE: 500032 NSE: BAJAJHIND

About

Bajaj Hindusthan Sugar Limited (BHSL) was incorporated in 1931 under the name ''The Hindustan Sugar Mills Limited''. The Company is engaged in the manufacture of sugar, alcohol, ethanol, and the generation of power. ^[1]^[2]

Key Points

Company Overview ^[1]
BHSL has 14 sugar factories with an
aggregate sugarcane crushing capacity of 136,000 tonnes crushed per day (TCD). Besides Sugar, BHSL is also a leading manufacturer of ethanol. It has six distilleries with capacity to produce 800 kilo litre per day (KLPD) of industrial alcohol and owns 14 co-generation plants having power generating capacity of 449 MW.

Website BSE NSE

Market Cap ₹ 3,936 Cr.
Current Price ₹ 30.8
High / Low ₹ 46.1 / 24.8
Stock P/E
Book Value ₹ 34.4
Dividend Yield 0.00 %
ROCE 0.70 %
ROE -2.04 %
Face Value ₹ 1.00

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Pros

Stock is trading at 0.90 times its book value

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of -2.24% over past five years.
Promoter holding is low: 25.0%
Company has a low return on equity of -4.13% over last 3 years.
Contingent liabilities of Rs.1,386 Cr.
Promoters have pledged 100% of their holding.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Sugar Industry: Sugar

Part of Nifty Total Market BSE Allcap BSE SmallCap Nifty Microcap 250 BSE Fast Moving Consumer Goods

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	1,346	1,253	1,616	1,524	1,320	1,423	2,036	1,354	1,130	1,730	1,863	1,380	1,153
	1,344	1,306	1,419	1,491	1,400	1,336	1,821	1,325	1,180	1,622	1,689	1,349	1,151
Operating Profit	2	-53	197	33	-80	87	215	29	-50	108	173	31	2
OPM %	0%	-4%	12%	2%	-6%	6%	11%	2%	-4%	6%	9%	2%	0%
	3	4	10	4	5	3	5	3	4	3	3	4	3
Interest	63	62	59	33	32	95	50	43	40	38	34	28	24
Depreciation	54	54	53	53	54	54	53	53	54	54	53	53	53
Profit before tax	-112	-165	95	-49	-160	-59	116	-65	-140	19	90	-45	-73
Tax %	0%	0%	-4%	0%	0%	0%	-3%	0%	0%	0%	-5%	0%	0%
	-112	-165	99	-49	-160	-59	120	-65	-140	19	94	-45	-73
EPS in Rs	-0.88	-1.29	0.78	-0.38	-1.25	-0.46	0.94	-0.51	-1.09	0.15	0.73	-0.35	-0.57
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2012	Mar 2014 18m	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	4,263	6,644	4,531	4,683	4,385	5,842	6,804	6,666	6,672	5,569	6,302	6,077	6,126
	3,803	6,719	4,689	3,890	3,529	5,560	6,501	6,207	6,493	5,344	6,047	5,817	5,811
Operating Profit	460	-75	-158	793	856	283	303	459	179	225	255	260	314
OPM %	11%	-1%	-3%	17%	20%	5%	4%	7%	3%	4%	4%	4%	5%
	229	226	190	156	162	167	164	-50	17	21	17	13	13
Interest	661	1,128	889	848	802	680	322	301	263	254	210	156	124
Depreciation	349	532	240	224	214	197	211	216	215	215	213	213	212
Profit before tax	-321	-1,508	-1,097	-123	2	-427	-66	-108	-283	-222	-151	-96	-9
Tax %	-27%	2%	0%	-3%	-368%	-1%	-3%	-2%	-1%	-2%	-2%	-5%
	-235	-1,533	-1,097	-120	7	-423	-64	-105	-280	-218	-148	-92	-4
EPS in Rs	-3.67	-23.98	-13.54	-1.07	0.07	-3.73	-0.57	-0.93	-2.47	-1.71	-1.16	-0.72	-0.04
Dividend Payout %	-3%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-1%
5 Years:	-2%
3 Years:	-3%
TTM:	3%

Compounded Profit Growth
10 Years:	7%
5 Years:	-11%
3 Years:	19%
TTM:	97%

Stock Price CAGR
10 Years:	5%
5 Years:	36%
3 Years:	29%
1 Year:	10%

Return on Equity
10 Years:	-7%
5 Years:	-4%
3 Years:	-4%
Last Year:	-2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2012	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	64	64	81	108	110	110	110	110	110	124	124	124	124
Reserves	4,030	2,495	1,726	3,849	3,833	3,388	3,295	3,144	2,831	2,753	4,374	4,369	4,273
	5,708	6,275	7,284	6,911	7,007	6,791	6,022	5,487	5,389	4,792	4,246	3,769	3,494
	395	3,694	2,986	3,086	3,852	4,304	4,979	5,348	5,349	5,941	6,734	7,148	5,244
Total Liabilities	10,197	12,528	12,077	13,955	14,803	14,593	14,406	14,089	13,679	13,610	15,478	15,410	13,135
	5,420	4,987	4,890	7,937	7,728	7,536	7,390	7,188	6,992	6,803	6,600	6,391	6,287
CWIP	7	8	8	19	36	66	17	43	25	4	1	4	5
Investments	1,600	2,431	2,282	1,132	1,108	1,056	1,021	962	910	862	3,613	3,685	3,707
	3,170	5,102	4,897	4,866	5,930	5,935	5,978	5,897	5,751	5,940	5,264	5,330	3,136
Total Assets	10,197	12,528	12,077	13,955	14,803	14,593	14,406	14,089	13,679	13,610	15,478	15,410	13,135

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2012	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	-468	1,070	-348	377	713	951	1,133	894	351	635	814	660
	-1,104	-483	-193	-8	-18	-29	-18	-26	10	8	-5	-1
	1,168	-639	475	-388	-707	-920	-1,098	-816	-398	-658	-835	-632
Net Cash Flow	-404	-52	-66	-19	-11	1	17	53	-38	-16	-26	27

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2012	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	16	12	14	23	14	12	11	9	12	14	8	9
Inventory Days	62	170	192	206	366	212	175	182	169	228	184	204
Days Payable	26	179	246	235	338	251	264	299	296	339	318	269
Cash Conversion Cycle	52	3	-40	-6	41	-27	-77	-107	-116	-98	-126	-56
Working Capital Days	138	41	143	129	114	95	53	43	49	27	-35	-56
ROCE %	4%	-4%	-3%	7%	7%	2%	3%	3%	-0%	0%	1%	1%

Shareholding Pattern

Numbers in percentages

2 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	24.95%	24.95%	24.95%	24.96%	24.96%	24.96%	24.96%	24.96%	24.96%	24.96%	24.96%	24.96%
	0.94%	1.20%	1.38%	1.59%	1.60%	1.69%	1.60%	1.64%	1.80%	2.57%	2.63%	4.32%
	26.49%	21.54%	19.05%	15.64%	15.27%	15.27%	15.26%	12.41%	9.45%	8.60%	8.43%	8.14%
	47.48%	52.17%	54.48%	57.67%	58.03%	57.94%	58.05%	60.87%	63.67%	63.73%	63.84%	62.46%
	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%
No. of Shareholders	3,30,090	4,07,209	4,22,114	4,48,507	4,64,064	4,60,799	4,51,099	5,12,155	5,56,650	6,35,448	6,73,585	7,45,336

	Feb 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	26.41%	26.02%	15.43%	15.43%	15.43%	15.43%	24.95%	24.96%	24.96%	24.96%
	0.00%	3.86%	4.31%	3.82%	2.25%	0.14%	1.20%	1.69%	2.57%	4.32%
	51.23%	39.65%	45.26%	44.10%	43.93%	39.90%	21.54%	15.27%	8.60%	8.14%
	22.21%	30.32%	34.83%	36.49%	38.23%	44.36%	52.17%	57.94%	63.73%	62.46%
	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.14%	0.14%	0.14%	0.14%
No. of Shareholders	1,41,358	1,45,250	1,45,954	1,51,742	1,71,542	2,03,754	4,07,209	4,60,799	6,35,448	7,45,336

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Bajaj Hindusthan Sugar Ltd

Bajaj Hindusthan Sugar Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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