Ugar Sugar Works
- Market cap
- ₹ 524 Cr.
- P/E
- 7.7x
- P/B
- 2.36x
- 52-week range
- 33.75 – 66.77
- ROE
- 6%
- ROCE
- 9%
- Dividend yield
- 0.2%
- Debt / equity
- 3.11
- Sector
- Agricultural Food & other Products
- Industry
- Sugar
- Listed on
- NSE, BSE
About
The Ugar Sugar Works Limited is an India-based company, which is engaged in the manufacturing and sale of sugar, industrial and potable alcohol, and the generation and distribution of electricity. It is engaged in the manufacturing of white crystal sugar. It offers white crystal sugar in various grades, such as M-30, S-30 and SS-30. Its byproducts include bagasse, filter cake and final molasses. It is operating an approximately 44 megawatts (MW) bagasse-based cogeneration power plant. Its products include Indian Made Liquor (IML) products, ethanol (absolute alcohol), rectified spirit, malt spirit, and extra neutral alcohol (ENA). Its IML brands include Old Castle Premium Whisky, U.S. Whisky, U.S. Brandy, U.S. Gin., Ugar XXX Rum, Gokak Falls Whisky, Milan Whisky, Hawk Gin and Gagarin Vodka. The Company's plants are located at Ugarkhurd, Belagavi District, Karnataka and Malli-Nagarhalli Village, Kalburgi District, Karnataka. It serves various industries, including food, bakery and oil.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Sugar: 40 companies →Ugar Sugar Works 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)7.7 against a typical 16.6: cheaper than most peers (1st = cheapest).12th of 40
- Sales growth+34.1% against a typical +5.7% from a year earlier.7th of 36
- Share price, 3 months+41.6% against a typical +3.3%.6th of 38
- Size₹ 523.9 Cr. market value against a typical ₹ 365.2 Cr. (1st = largest).17th of 36
Latest announcements
Exchange filings and their impact on the company.
- 27 Oct 2026Outcome of Board MeetingMedium impactPositiveSeasonally weak Q2 loss flat YoY, but H1 loss narrowed sharply on higher H1 sales and sugar turnaround.
The Ugar Sugar Works reported Q2 FY27 revenue of Rs 350 crore, down 18% from last year, with a net loss of Rs 33.4 crore versus Rs 32.2 crore a year ago. For the half year, revenue rose 5% to Rs 831 crore and net loss narrowed to Rs 31.9 crore from Rs 45.9 crore, helped by sugar turning profitable. The business remains seasonal, with the main crushing season in H2 expected to drive full-year profit.
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 |
|---|---|---|---|
| CARE | Withdrawn | Stable | 13 Aug 2026 |
Every agency has withdrawn its rating.
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 13 Aug 2026 | Withdrawn | was CARE BBB- | — | CARE | ₹ 700 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 27 Oct 2026 | Financial Results | UGARSUGAR : 27-Oct-2026 : The Company has informed the Exchange that a Board meeting to be held on October 26, 2026 has been re-scheduled. Further, the Company has informed the Exchange that the meeting of the Board of Directors of the Company will be held on October 27, 2026, To consider and approve the financial results for the period ended September 30, 2026 |
| 26 Oct 2026 | Financial Results | To consider and approve the financial results for the period ended September 30, 2026 |
| 5 Aug 2026 | Financial Results/Other business matters | To consider and approve the financial results for the period ended Jun 30, 2026 and other business matters |
| 12 May 2026 | Financial Results/Dividend | To consider and approve the financial results for the period ended March 31, 2026 and dividend |
| 13 Feb 2026 | Financial Results | To consider and approve the financial results for the period ended December 31, 2025 |
| 12 Nov 2025 | Financial Results | To consider and approve the financial results for the period ended September 30, 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 | 234 | 361 | 368 | 316 | 240 | 263 | 511 | 356 | 417 | 321 | 389 | 478 |
| Expenses | 254 | 300 | 345 | 309 | 285 | 242 | 453 | 351 | 426 | 285 | 319 | 451 |
| Operating Profit | −20 | 61 | 24 | 7 | −44 | 20 | 58 | 5 | −9 | 37 | 71 | 27 |
| OPM % | −8.7% | 16.8% | 6.4% | 2.2% | −18.4% | 7.7% | 11.3% | 1.5% | −2.2% | 11.4% | 18.2% | 5.6% |
| Other Income | 4 | 1 | 26 | 2 | 4 | 2 | 5 | 1 | 2 | 0 | 4 | 2 |
| Interest | 9 | 8 | 18 | 13 | 12 | 12 | 11 | 14 | 18 | 12 | 18 | 18 |
| Depreciation | 7 | 7 | 8 | 7 | 7 | 7 | 7 | 7 | 7 | 9 | 10 | 9 |
| Profit before tax | −32 | 47 | 23 | −11 | −60 | 4 | 45 | −14 | −32 | 16 | 46 | 1 |
| Tax % | 2.5% | 1% | 25.3% | 7.3% | 0.5% | −23.8% | −13.5% | −2.6% | 1.5% | 14.7% | 1.4% | −43.7% |
| Net Profit | −33 | 46 | 17 | −12 | −60 | 5 | 51 | −14 | −32 | 14 | 46 | 1 |
| EPS in Rs | −2.95 | 4.1 | 1.54 | −1.05 | −5.34 | 0.4 | 4.54 | −1.22 | −2.86 | 1.22 | 4.07 | 0.13 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 6%
- 5 Years
- 9%
- 3 Years
- −6%
- TTM
- 17%
- 10 Years
- 2%
- 5 Years
- −4%
- 3 Years
- −49%
- TTM
- 259%
- 10 Years
- 4%
- 5 Years
- 15%
- 3 Years
- −19%
- TTM
- —
- 10 Years
- 12%
- 5 Years
- 17%
- 3 Years
- 2%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Ugar Sugar Works | ₹ 57.69 | ₹ 524 Cr. | 7.7x | 2.4x | 6% | — |
| 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
- Shishir Suresh Shirgaokar
- Executive Chairman of the Board, Managing Director
- Tushar V. Deshpande
- Chief Compliance Officer, Company Secretary
- Chandan Sanjeev Shirgaokar
- Joint Managing Director, Director
- Niraj Shishir Shirgaokar
- Joint Managing Director, Director
- Sohan Sanjeev Shirgaokar
- Executive Director
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