Dalmia Bharat Sugar and Industries share price & results
- Jun 2026
- Sept 2026
Integrated sugar, ethanol and power producer running six mills across Uttar Pradesh and Maharashtra.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 848 | −9.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 5.1 | −4.4 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 6.9 | −82.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 6.51 | −4.9 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 2.63 | −4.5 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | -5.24 | −31.4 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance +15.9% 1Y
1Y: ₹354.9 on 24 Oct 2025 → ₹411.35. High ₹508.1 (20 Aug 2026), low ₹264.45 (21 Jan 2026).
- Previous close
- ₹414.65
- Market cap
- ₹3.4k Cr
- 52-week range
- ₹264.45 – ₹508.1
- One year
- +10.73%
- Price to earnings (TTM to Jun 2026)
- 16.35×
- Return on equity (TTM to Jun 2026)
- 6.51%
Overview
- Symbol
- NSE:DALMIASUG
- Exchange
- NSE
- Currency
- INR
What Dalmia Bharat Sugar and Industries Limited does
Based on the company's own presentations, annual report and earnings calls.
Dalmia Bharat Sugar and Industries Limited is an integrated agro-energy company that crushes sugarcane into sugar, ferments cane and grain-based feedstock into ethanol/industrial alcohol, and runs bagasse-based co-generation power plants. It sources cane from a large base of contracted farmers across its Uttar Pradesh and Maharashtra units, sells sugar both domestically and via exports, and supplies ethanol to oil marketing companies for the national ethanol-blending programme. The company also has dedicated facilities for processing raw (imported) sugar and operates incineration boilers alongside its distilleries.
Segments
- Sugar
- Distillery
- Sugar crushing capacity
- 43,200 tonnes of cane per day (TCD) across all units
- Manufacturing units
- 6 integrated manufacturing units across Uttar Pradesh and Maharashtra
- Distillery (ethanol) installed capacity
- 950 KLPD (850 KLPD operational; 100 KLPD under commissioning at Baghauli, expected FY2026)
- Co-generation power capacity
- 138 MW
- Farmers engaged
- 197,864 farmers across Uttar Pradesh operations (2024-25 season)
- Geographic footprint
- Two major sugarcane-producing states - Uttar Pradesh and Maharashtra
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: −82% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 926 | 838 | 1,016 | 941 | 989 | 698 | 991 | 848 |
| Expenses | 861 | 737 | 818 | 851 | 932 | 588 | 821 | 805 |
| Operating profit | 66 | 101 | 197 | 90 | 56 | 109 | 170 | 43 |
| Operating margin | 7.1% | 12.1% | 19.4% | 9.5% | 5.7% | 15.7% | 17.2% | 5.1% |
| Other income | 16 | 19 | 16 | 11 | 20 | 29 | 34 | 28 |
| Interest | 12 | 9 | 16 | 16 | 10 | 12 | 25 | 27 |
| Depreciation | 32 | 35 | 38 | 32 | 34 | 33 | 37 | 34 |
| Profit before tax | 38 | 76 | 160 | 53 | 31 | 93 | 143 | 10 |
| Tax rate | −74.7% | 21.5% | −24.6% | 25.4% | 25.4% | 25.2% | 27.4% | 29.7% |
| Net profit | 66 | 59 | 199 | 39 | 23 | 70 | 104 | 7 |
| EPS (₹ per share) | 8.18 | 7.33 | 24.57 | 4.85 | 2.88 | 8.61 | 12.91 | 0.95 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 3,252 | 2,899 | 3,740 | 3,618 |
| Expenses | 2,816 | 2,487 | 3,265 | 3,193 |
| Operating profit | 436 | 412 | 475 | 426 |
| Other income | 78 | 129 | 67 | 94 |
| Interest | 37 | 50 | 63 | 63 |
| Depreciation | 122 | 127 | 131 | 136 |
| Profit before tax | 354 | 363 | 348 | 320 |
| Net profit | 250 | 272 | 379 | 236 |
| Line item | Mar 2023 | Mar 2024 | Sept 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 16 | 16 | 16 | 16 | 16 | 16 |
| Reserves | 2,689 | 2,916 | 3,019 | 3,047 | 3,209 | 3,226 |
| Borrowings | 454 | 1,430 | 363 | 1,044 | 547 | 1,803 |
| Other liabilities | 644 | 800 | 577 | 541 | 462 | 475 |
| Total liabilities | 3,803 | 5,162 | 3,976 | 4,648 | 4,234 | 5,521 |
| Fixed assets | 1,652 | 1,847 | 1,801 | 1,657 | 1,600 | 1,784 |
| Capital work in progress | 21 | 133 | 199 | 186 | 212 | 47 |
| Investments | 736 | 629 | 656 | 583 | 1,040 | 1,339 |
| Other assets | 1,393 | 2,554 | 1,320 | 2,223 | 1,383 | 2,352 |
| Total assets | 3,803 | 5,162 | 3,976 | 4,648 | 4,234 | 5,521 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 346 | 567 | 583 | -239 | 410 | 219 |
| Cash from investing | 37 | -327 | -192 | -257 | -113 | -843 |
| Cash from financing | -364 | -217 | -419 | 902 | -480 | 664 |
| Net cash flow | 18 | 23 | -29 | 405 | -182 | 41 |
| Free cash flow | 274 | 234 | 365 | -606 | 267 | 95 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 16 | 20 | 17 | 15 | 12 | 18 |
| Inventory days | 274 | 213 | 163 | 329 | 221 | 233 |
| Days payable | 54 | 45 | 33 | 71 | 26 | 21 |
| Cash conversion cycle | 237 | 188 | 147 | 273 | 207 | 230 |
| Working capital days | 64 | 71 | 81 | 45 | 99 | 46 |
| Return on capital employed | 15.0% | 13.0% | 12.0% | 10.0% | 10.0% | 8.0% |
| Dividend payout | 9.0% | 11.0% | 13.0% | 15.0% | 13.0% | 21.0% |
Where revenue comes from
The businesses behind the company’s reported revenue.
Sugar contributes 68.7% of reported segment revenue.
Quarter ended 30 Jun 2026 · Standalone
- Sugar 68.7%
₹635.43 crore
- Distillery 31.1%
₹287.15 crore
- Others 0.2%
₹1.77 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| Sugar | 635.43 | 68.7% |
| Distillery | 287.15 | 31.1% |
| Others | 1.77 | 0.2% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
How these numbers add up
- Total segment revenue
- ₹924.35 crore
- Intersegment adjustment
- ₹76.16 crore
- Net segment revenue
- ₹848.19 crore
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
What the price assumes
Growth trapTo justify its price of ₹411, this stock must grow earnings at 14% every year for 7 years. Our analysis caps realistic growth at ~-2%. At that growth it is worth ₹175 — downside of 57%.
- Growth the price implies
- 14.0% a year
- for 7 years, fading to 4%
- It has actually compounded at
- -1.9% a year
- net profit, FY23–FY26 · EPS -1.8%
- The gap
- 0.2 pp
- -57% downside if it only repeats history
Ownership
Who owns it
Promoters hold 74.92% as of Sept 2026; institutions added 0.43 pts since Jun 2026.
- Promoters 74.92%
- Foreign institutions 0.89%
- Domestic institutions 0.33%
- Government 0.16%
- Public 23.70%
Who is on the register
Named in the Sep 2026 filing
Every holder of Dalmia Bharat Sugar and Industries Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 44.32% | unchanged | |
| 18.32% | unchanged | |
| 10.73% | unchanged | |
| 5.23% | unchanged | |
| 1.76% | unchanged | |
| 1.52% | unchanged | |
| 0.69% | unchanged | |
| 0.40% | unchanged | |
| 0.19% | unchanged | |
| 0.15% | unchanged | |
| 0.05% | unchanged | |
| 0.05% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
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