Dalmia Bharat Sugar & Industries Ltd

₹ 416 0.39%

03 Jul 1:02 p.m.

dalmiasugar.com BSE: 500097 NSE: DALMIASUG

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 FY23
Sugar - 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.

Website BSE NSE

Market Cap ₹ 3,371 Cr.
Current Price ₹ 416
High / Low ₹ 490 / 338
Stock P/E 14.1
Book Value ₹ 362
Dividend Yield 1.23 %
ROCE 9.84 %
ROE 8.52 %
Face Value ₹ 2.00

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Pros

Stock is trading at 1.14 times its book value

Cons

The company has delivered a poor sales growth of 7.51% over past five years.
Company has a low return on equity of 10.2% over last 3 years.
Earnings include an other income of Rs.128 Cr.
Dividend payout has been low at 12.9% of profits over last 3 years

* 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

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Dec 2022	Mar 2023	Sep 2023	Dec 2023	Mar 2024
	882	720	606	489	819	728	616	856	600	1,149	732	584	750
	685	628	550	361	677	641	528	726	488	941	666	474	631
Operating Profit	197	92	56	127	141	87	88	130	112	208	65	109	119
OPM %	22%	13%	9%	26%	17%	12%	14%	15%	19%	18%	9%	19%	16%
	16	11	14	12	5	20	22	16	23	12	56	27	37
Interest	26	15	11	10	12	8	6	9	9	9	16	8	16
Depreciation	15	15	14	52	21	21	24	29	32	34	31	32	33
Profit before tax	173	73	44	77	113	79	80	109	93	176	74	96	107
Tax %	27%	24%	16%	33%	-10%	25%	29%	49%	31%	30%	26%	32%	14%
	126	56	37	52	124	59	57	56	65	124	55	65	91
EPS in Rs	15.56	6.87	4.59	6.41	15.37	7.32	6.99	6.87	8.02	15.35	6.79	8.02	11.29
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	997	1,190	1,150	1,166	1,686	2,244	2,018	2,110	2,685	3,018	3,252	2,899
	847	1,083	1,037	939	1,308	2,010	1,781	1,774	2,203	2,572	2,815	2,487
Operating Profit	150	108	113	227	378	234	237	337	482	446	437	412
OPM %	15%	9%	10%	19%	22%	10%	12%	16%	18%	15%	13%	14%
	7	20	16	22	24	25	75	56	44	64	77	128
Interest	66	76	78	87	102	69	69	88	62	35	38	50
Depreciation	73	49	51	113	56	54	52	57	96	95	121	127
Profit before tax	19	3	0	47	244	136	192	247	368	380	355	363
Tax %	3%	-17%	-414%	-23%	24%	10%	9%	22%	27%	22%	30%	25%
	18	3	1	58	186	122	175	193	270	296	250	272
EPS in Rs	2.27	0.38	0.18	7.22	23.02	15.12	21.65	23.88	33.42	36.56	30.91	33.68
Dividend Payout %	11%	0%	0%	8%	9%	13%	7%	8%	9%	11%	13%	15%

Compounded Sales Growth
10 Years:	9%
5 Years:	8%
3 Years:	3%
TTM:	-11%

Compounded Profit Growth
10 Years:	53%
5 Years:	7%
3 Years:	-4%
TTM:	-2%

Stock Price CAGR
10 Years:	32%
5 Years:	32%
3 Years:	-5%
1 Year:	13%

Return on Equity
10 Years:	11%
5 Years:	11%
3 Years:	10%
Last Year:	9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	16	16	16	16	16	16	16	16	16	16	16	16
Reserves	443	446	444	496	1,245	1,488	1,516	1,503	2,126	2,343	2,689	2,916
	786	812	931	1,138	1,214	776	1,037	1,277	958	819	454	1,430
	426	444	443	411	459	633	621	642	632	645	644	800
Total Liabilities	1,670	1,718	1,834	2,061	2,935	2,913	3,189	3,438	3,733	3,822	3,803	5,162
	636	767	746	752	1,280	1,293	1,316	1,353	1,308	1,531	1,652	1,847
CWIP	17	14	28	7	2	7	11	6	27	59	21	133
Investments	62	79	84	94	366	626	417	359	620	594	736	629
	956	858	976	1,208	1,287	987	1,445	1,720	1,777	1,639	1,393	2,554
Total Assets	1,670	1,718	1,834	2,061	2,935	2,913	3,189	3,438	3,733	3,822	3,803	5,162

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	95	266	-11	-24	155	706	-220	59	346	567	583	-239
	-157	-184	-43	-77	-144	-178	-29	-179	37	-327	-192	-257
	12	-61	42	112	2	-528	219	145	-364	-217	-419	902
Net Cash Flow	-50	21	-13	11	13	1	-31	25	18	23	-29	405

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	21	6	25	33	24	12	37	29	16	20	17	15
Inventory Days	383	252	310	476	367	161	284	345	274	213	163	329
Days Payable	133	113	133	125	62	92	109	102	54	45	33	71
Cash Conversion Cycle	271	144	202	384	329	81	212	272	237	188	147	273
Working Capital Days	159	85	116	172	174	54	148	177	163	129	95	183
ROCE %	7%	6%	5%	8%	17%	9%	10%	12%	15%	13%	12%	10%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	74.91%	74.91%	74.91%	74.91%	74.91%	74.91%	74.91%	74.91%	74.91%	74.91%	74.92%	74.92%
	1.00%	0.96%	0.90%	1.15%	1.42%	1.17%	1.01%	1.03%	0.90%	0.97%	1.07%	1.03%
	0.07%	0.07%	0.06%	0.07%	0.07%	0.04%	0.07%	0.06%	0.06%	0.08%	0.08%	0.09%
	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%
	23.86%	23.90%	23.97%	23.71%	23.44%	23.73%	23.84%	23.82%	23.96%	23.88%	23.78%	23.81%
No. of Shareholders	25,726	35,756	37,632	41,039	44,063	46,465	46,128	43,368	41,491	41,485	45,070	47,026

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	74.91%	74.91%	74.91%	74.91%	74.91%	74.91%	74.91%	74.92%
	1.03%	0.88%	2.59%	0.39%	0.83%	1.15%	1.03%	1.03%
	2.12%	1.88%	1.89%	1.86%	0.07%	0.07%	0.06%	0.09%
	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%	0.16%
	21.78%	22.17%	20.45%	22.68%	24.03%	23.71%	23.82%	23.81%
No. of Shareholders	18,228	21,583	19,418	19,814	18,605	41,039	43,368	47,026

* 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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Dalmia Bharat Sugar & Industries Ltd

Dalmia Bharat Sugar & Industries Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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