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    Process industries

  3. •

    Agricultural commodities/Milling
Ugar Sugar Works Ltd

Ugar Sugar Works Ltd

46.57
INR
-2.45
(-5.00%)
2.55EPS
16.06P/E
4.61BMarket Cap
Ugar Sugar Works Ltd
BSE:UGARSUGAR
(Bombay Stock Exchange)

Recent

price

46.57

P/E

ratio

16.06

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
INR
52.84
58.39
63.78
57.09
57.96
74.43
51.94
57.77
66.69
73.38
80.88
99.02
159.46
102.29
118.15
131.93
142
Revenue per Share
0.36
1.52
1.55
-2.65
-0.29
1
2.31
-6.06
0.39
1.22
1.52
3.85
9.16
1.88
-1.44
1.21
2.55
Basic EPS, GAAP
5.43
3.58
-3.62
13.58
4.3
-3.89
-2.97
1.95
-4.36
3.84
-7.46
-3.43
29.76
-12.46
-4.99
1.76
- -
Free Cash Flow per Basic Share
- -
- -
0.29
0.26
- -
- -
0.3
0.24
- -
- -
0.1
0.2
0.25
0.5
0.25
- -
- -
Dividend per Share
7.8
9.02
10.34
7.7
7.37
8.32
10.11
4.03
4.55
5.76
7.16
10.82
19.63
20.89
19.2
20.77
- -
Book Value per Share
7.77
9.01
10.34
7.7
7.37
8.32
10.11
4.01
4.53
5.76
7.15
10.82
19.62
20.88
19.2
20.73
- -
Tangible Book Value per Share
113
113
113
113
113
113
113
113
113
113
113
113
113
113
113
113
113
Basic Weighted Avg Shares
5,944
6,569
7,176
6,423
6,521
8,373
5,844
6,499
7,502
8,256
9,100
11,139
17,940
11,508
13,292
14,843
16,058
Sales/Revenue/Turnover
5.13
8.4
6.36
-0.08
1.06
4.59
9.66
-6
5.6
6.91
6.52
8.1
10.86
6.15
1.43
4.94
5.55
Operating Margin (%)
287
252
247
256
155
157
147
195
149
137
124
115
181
291
275
332
358
Depreciation Expense
40
171
175
-298
-33
113
260
-682
43
138
171
433
1,030
211
-162
136
288
Net Income, GAAP
- -
37.76
10.17
- -
- -
24
7.1
- -
20.61
1
8.32
6.56
30.56
29.06
- -
18.66
9.54
Effective Tax Rate (%)
0.68
2.6
2.43
-4.63
-0.5
1.35
4.44
-10.49
0.58
1.67
1.87
3.89
5.74
1.84
-1.22
0.92
1.8
Profit Margin (%)
2,326
-19
9
-239
-42
360
64
-959
-895
-185
259
179
933
-226
-902
-947
- -
Working Capital
3,136
410
520
387
806
902
497
106
- -
485
704
1,241
1,400
836
921
622
- -
LT Debt
877
1,015
1,163
866
830
937
1,137
453
511
649
805
1,218
2,208
2,350
2,160
2,337
- -
Total Equity
- -
8.17
9.92
- -
- -
8.71
11.68
- -
5.89
9.33
8.49
10.91
18.47
6.88
- -
6.44
- -
Return on Invested Capital (%)
- -
9.19
4.22
- -
- -
10.15
12.46
- -
5.96
9.14
8.36
10.85
18.53
7.07
- -
6.57
- -
Return on Capital (%)
4.69
18.07
16.02
-29.33
-3.83
12.78
25.05
-85.76
9.01
23.74
23.46
42.84
60.16
9.28
-7.21
6.05
- -
Return on Common Equity (%)

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
6,636
- -
LT Borrowings
- -
622
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
113
113
113
Market Capitalization
4,851
4,395
4,606

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
9,170
- -
Cash, Cash Equivalents & STI
- -
152
- -
Accounts Receivable, Net
- -
1,370
- -
Inventories
- -
7,008
- -
Total Current Liabilities
- -
10,117
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
6,636
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
16.42%
27.83%
8.19%
Free Cash Flow
-235.47%
-271.96%
-135.23%
Net Income, GAAP
-24.63%
-29.64%
-183.77%
Sales/Revenue/Turnover
9.15%
14.96%
11.66%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
3,158
2,404
2,627
5,110
13,292
2026
3,563
4,174
3,210
3,895
14,843
2027
4,779
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
-1.05
-5.34
0.4
4.54
-1.44
2026
-1.22
-2.86
1.22
4.07
1.21
2027
0.13
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
0.25
2026
- -
- -
- -
- -
- -
2027
- -
- -
- -
- -
- -
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Business
The Ugar Sugar Works Limited manufactures and sells sugar, industrial alcohol, potable alcohol, and co-generated power in India, operating through segments including sugar, industrial alcohol, potable alcohol, co-generation, and petroleum products sales; core products comprise white crystal sugar in M-30 and S-30 grades, rectified spirit, extra neutral alcohol, ethanol for oil blending, Indian made liquors such as Old Castle Premium Whisky and Sandpiper, and bagasse-based electricity exported via power trading entities. Founded in 1939 and headquartered at Ugarkhurd in Belagavi district, Karnataka with registered office in Sangli, Maharashtra, the company maintains sugar plants, distilleries, and co-generation facilities at Ugarkhurd and Jewargi in Karnataka, alongside offices in Mumbai, Bengaluru, Belagavi, Sangli, and Kolhapur, serving institutional buyers like food and beverage manufacturers, dairy processors, bakeries, supermarkets, oil companies, and Karnataka State Beverages Corporation Limited with nationwide presence and indirect sugar exports through merchant exporters. Recent developments include commencement of maize procurement for ethanol production, environmental clearances for distillery expansion to 845 KLPD and sugar unit growth, a planned new product line launch in March 2025, operational enhancements such as SAP implementation and zero-pollution distillery processes, alongside Jewargi greenfield project crushing in the 2024-2025 season amid elongated working capital cycles and rating revisions to CARE BB+ with negative outlook in May 2025 due to profitability pressures from lower sugarcane crushing and higher raw material costs.