Dwarikesh Sugar Industries
- Market cap
- ₹ 786 Cr.
- P/E
- 10.5x
- P/B
- 1.01x
- 52-week range
- 32.13 – 59.9
- ROE
- 4%
- ROCE
- 5%
- Dividend yield
- 0.2%
- Debt / equity
- 0.41
- Sector
- Agricultural Food & other Products
- Industry
- Sugar
- Listed on
- NSE, BSE
About
Dwarikesh Sugar Industries Ltd is a sugar producer. It is a multi-faceted, diversified industrial group engaged in the manufacture of the finest grains of sugar, as well as allied products. Its segments include Sugar and Distillery. It has approximately three fully automated sugar mills, located in Uttar Pradesh's sugarcane-rich belt of Bijnor and Bareilly districts. Its sugar grades are L-31, M-31, S-31, L-30, M-30 and S-30. It has a cumulative co-generation capacity of approximately 94 megawatts (MW) from three units: Dwarikesh Nagar - 20 MW, Dwarikesh Puram - 33 MW and Dwarikesh Dham - 41 MW. The Company has two distillery units, one in Dwarikesh Nagar, which have a production capacity of approximately 162.5 kilo liters per day (KLPD) and the other in Dwarikesh Dham, which has a production capacity of 175 KLPD. It sells sanitizers. It is also involved in the development of alternative energy sources, which enable sustainable growth for the sugar industry at large.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Sugar: 40 companies →Dwarikesh Sugar Industries against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)10.5 against a typical 16.6: cheaper than most peers (1st = cheapest).16th of 40
- Sales growth−11.6% against a typical +5.7% from a year earlier.28th of 36
- Share price, 3 months+15.9% against a typical +4.8%.14th of 38
- Size₹ 785.7 Cr. market value against a typical ₹ 365.2 Cr. (1st = largest).12th of 36
Latest announcements
Exchange filings and their impact on the company.
- Seasonal Q2 loss narrowed sharply YoY but weak distillery sales drag H1 revenue.
Dwarikesh Sugar reported Q2 FY27 revenue of Rs 256.6 crore, up 4.3% YoY, with net loss narrowing to Rs 13.1 crore from Rs 32.6 crore last year. For H1, revenue was Rs 614.7 crore, down 5.6% YoY as distillery sales fell to Rs 48.5 crore, while H1 net loss improved to Rs 38.8 crore from Rs 42.0 crore. The improvement came from a smaller sugar segment loss and lower finance costs, but soft distillery volumes point to slightly lower full-year sales and profit than FY26.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
No up-to-date rating
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| ICRA | Withdrawn | Stable | 25 Sep 2026 |
Every agency has withdrawn its rating.
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 25 Sep 2026 | Withdrawn | was [ICRA]A+ | — | ICRA | ₹ 300 Cr. | |
| 25 May 2026 | ▼ Downgrade1 notch | [ICRA]AA- → [ICRA]A+ | — | ICRA | ₹ 900 Cr. | |
| 14 Aug 2025 | Reaffirmed | [ICRA]AA- | — | ICRA | ₹ 950 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 29 Oct 2026Upcoming | Financial Results | To consider and approve the financial results for the period ended September 30, 2026 |
| 28 Jul 2026 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2026 |
| 14 May 2026 | Financial Results/Dividend | To consider and approve the financial results for the period ended March 31, 2026 and dividend |
| 11 Feb 2026 | Financial Results | To consider and approve the financial results for the period ended December 31, 2025 |
| 31 Oct 2025 | Financial Results | To consider and approve the financial results for the period ended September 30, 2025 |
| 7 Aug 2025 | Financial Results/Other business matters | To consider and approve the financial results for the period ended Jun 30, 2025 and other business matters |
| 22 May 2025 | Financial Results/Dividend/Other business matters | We wish to inform you that pursuant to Regulation 29(1) of the SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015, a Meeting of Board of Directors of the Company is scheduled to be held on Thursday, May 22, 2025, through video conferencing ( VC ), to consider inter alia the following:1. To consider, take on record & approve Audited Financial Results & Accounts for the quarter & year ended March 31, 2025;2. To consider and recommend Dividend on Equity Shares, if any;3. To fix the date of Annual General Meeting (AGM), Book closure & Record date for the purpose of AGM, E-voting & Dividend.The Trading Window for all the designated persons (including Directors and designated employees) and their immediate relatives defined in the Code inter alia for the purpose of taking on record the Audited Financial Results, in terms of the provisions of SEBI (Prohibition of Insider Trading) Regulations, 2015 and the Company s Code of Conduct Prohibition of Insider Trading for prevention of Insider Trading adopted by the Company has already been closed, for dealing in shares of the Company from Tuesday, April 01, 2025 until 48 hours from the date of declaration of Audited Financial Results, which had already been intimated to the Stock Exchange, vide our letter (Ref: DSIL/2024-25/283) dated March 24, 2025. |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 446 | 313 | 380 | 341 | 246 | 313 | 459 | 405 | 246 | 325 | 425 | 358 |
| Expenses | 417 | 287 | 307 | 339 | 269 | 286 | 352 | 402 | 287 | 287 | 339 | 384 |
| Operating Profit | 29 | 26 | 73 | 2 | −23 | 27 | 107 | 4 | −41 | 38 | 87 | −26 |
| OPM % | 6% | 8% | 19% | 0.7% | −9% | 9% | 23% | 1% | −17% | 12% | 20% | −7% |
| Other Income | 3 | 6 | 2 | 1 | 2 | 4 | 0 | 0 | 2 | 3 | 1 | 2 |
| Interest | 4 | 4 | 7 | 6 | 3 | 3 | 8 | 5 | 2 | 1 | 6 | 3 |
| Depreciation | 13 | 14 | 13 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 0 | 8 |
| Profit before tax | 15 | 14 | 56 | −15 | −36 | 16 | 88 | −13 | −53 | 27 | 82 | −34 |
| Tax % | 31% | 31% | 59% | −35% | −33% | 32% | 47% | −28% | −38% | 42% | 30% | −25% |
| Net Profit | 10 | 10 | 23 | −10 | −24 | 11 | 46 | −9 | −33 | 15 | 57 | −26 |
| EPS in Rs | 0.54 | 0.52 | 1.22 | −0.53 | −1.3 | 0.58 | 2.5 | −0.51 | −1.76 | 0.83 | 3.1 | −1.39 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 6%
- 5 Years
- −5%
- 3 Years
- −13%
- TTM
- −5%
- 10 Years
- −1%
- 5 Years
- −20%
- 3 Years
- −34%
- TTM
- −39%
- 10 Years
- 7%
- 5 Years
- −7%
- 3 Years
- −19%
- TTM
- —
- 10 Years
- 16%
- 5 Years
- 11%
- 3 Years
- 6%
- TTM
- —
Peers
Listed companies in the same business.
| Dwarikesh Sugar Industries | ₹ 42.52 | ₹ 786 Cr. | 10.5x | 1x | 4% | — |
| Nestle India | ₹ 1,173.45 | ₹ 2,26,278 Cr. | 80.4x | 53.4x | 76.3% | 15.1% |
| Britannia Industries | ₹ 4,547.80 | ₹ 1,09,542 Cr. | 51.5x | 25.5x | 53.6% | 13.3% |
| Tata Consumer Products | ₹ 960.00 | ₹ 95,010 Cr. | 67.4x | 4.9x | 7.4% | 8.1% |
| Godrej Industries | ₹ 918.00 | ₹ 30,884 Cr. | 34.9x | 4x | 11.6% | 10.9% |
| Patanjali Foods | ₹ 351.00 | ₹ 38,193 Cr. | 18.9x | 2.8x | 14.8% | 4.5% |
Management
- Gautam Radheshyam Morarka
- Executive Chairman of the Board, Founder
- Sunil Kumar Goel
- Chief Financial Officer
- Salil Swaroop Arya
- Senior Executive Vice President - Corporate, Group Compliance Officer
- Balkishan Jawarilal Maheshwari
- Compliance Officer, Managing Director, Executive Director, Company Secretary
- Vijay Sitaram Banka
- Managing Director, Executive Director
- R. K. Gupta
- Senior Executive Officer - Work DD Unit
- Priyanka Gautam Morarka
- Whole-Time Director
Prices are delayed and for information only. Nothing on this page is investment advice.