DALMIASUG

Dalmia Bharat Sugar and Industries share price & financials

Price
₹367.4
Market cap
₹3.4k Cr
Sector
Fast Moving Consumer Goods

What Dalmia Bharat Sugar and Industries Limited does

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
Founded 1994Headquarters New Delhi, India Company website

Quarterly results

Q1 FY27: revenue down 9.9%, net profit down 78.2% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue920 838 1,016 941 989 +7%698 −17%991 −2%848 −10%
EBITDA67 101 197 90 56 −16%109 +8%171 −13%44 −51%
Net profit53 59 199 39 23 −56%70 +18%105 −47%9 −78%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +10.4% 1Y

₹250₹300₹350₹400₹450₹500Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹378.15 on 10 Sept 2025 → ₹417.35. High ₹508.1 (20 Aug 2026), low ₹264.45 (21 Jan 2026).

Financials, as filed

Revenue grew 3.6% a year over 3 years, FY23 to FY26. Operating margin narrowed to 11.8%.

Year endingFY23FY24FY25FY26
Revenue₹3.3k Cr₹2.9k Cr₹3.7k Cr₹3.6k Cr
Operating profit₹436 Cr₹412 Cr₹476 Cr₹426 Cr
Operating margin13.4%14.2%12.8%11.8%
Interest₹37 Cr₹50 Cr₹63 Cr₹62 Cr
Depreciation₹122 Cr₹127 Cr₹131 Cr₹136 Cr
Net profit₹250 Cr₹270 Cr₹366 Cr₹238 Cr
Net margin7.7%9.3%9.8%6.6%
Cash from operations₹583 Cr₹-239 Cr₹410 Cr₹210 Cr
Free cash flow₹365 Cr₹-624 Cr₹267 Cr₹151 Cr
ROCE12.0%10.0%10.0%8.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹16 Cr₹16 Cr₹16 Cr₹16 Cr₹16 Cr₹16 Cr
Reserves₹2.1k Cr₹2.3k Cr₹2.7k Cr₹3.0k Cr₹3.2k Cr₹3.2k Cr
Borrowings₹958 Cr₹819 Cr₹454 Cr₹363 Cr₹547 Cr₹1.7k Cr
Other liabilities₹629 Cr₹645 Cr₹644 Cr₹577 Cr₹462 Cr₹473 Cr
Total liabilities₹3.7k Cr₹3.8k Cr₹3.8k Cr₹4.0k Cr₹4.2k Cr₹5.5k Cr
Fixed assets₹1.3k Cr₹1.5k Cr₹1.7k Cr₹1.8k Cr₹1.6k Cr₹1.8k Cr
Capital work in progress₹27 Cr₹59 Cr₹21 Cr₹199 Cr₹212 Cr₹15 Cr
Investments₹563 Cr₹594 Cr₹736 Cr₹656 Cr₹1.0k Cr₹1.3k Cr
Other assets₹1.8k Cr₹1.6k Cr₹1.4k Cr₹1.3k Cr₹1.4k Cr₹2.3k Cr
Total assets₹3.7k Cr₹3.8k Cr₹3.8k Cr₹4.0k Cr₹4.2k Cr₹5.5k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, FIIs trimmed −0.56 pp while the public added +0.36 pp. The shareholder count grew 6% to 46,453.

Promoters
74.9%
FIIs
0.5%
DIIs
0.3%
Government
0.2%
Public
24.1%

Since Jun 2025

  • FIIs −0.56 pp
  • Public +0.36 pp
  • DIIs +0.22 pp

How it drifted, 12 quarters

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 74.9%, FIIs 1.0%, DIIs 0.1%, Government 0.2%, Public 23.9%.Dec '23: Promoters 74.9%, FIIs 1.1%, DIIs 0.1%, Government 0.2%, Public 23.8%.Mar '24: Promoters 74.9%, FIIs 1.0%, DIIs 0.1%, Government 0.2%, Public 23.8%.Jun '24: Promoters 74.9%, FIIs 1.0%, DIIs 0.1%, Government 0.2%, Public 23.9%.Sep '24: Promoters 74.9%, FIIs 1.0%, DIIs 0.1%, Government 0.2%, Public 23.9%.Dec '24: Promoters 74.9%, FIIs 0.9%, DIIs 0.1%, Government 0.2%, Public 24.0%.Mar '25: Promoters 74.9%, FIIs 0.8%, DIIs 0.1%, Government 0.2%, Public 24.1%.Jun '25: Promoters 74.9%, FIIs 1.1%, DIIs 0.1%, Government 0.2%, Public 23.8%.Sep '25: Promoters 74.9%, FIIs 1.0%, DIIs 0.1%, Government 0.2%, Public 23.9%.Dec '25: Promoters 74.9%, FIIs 0.7%, DIIs 0.1%, Government 0.2%, Public 24.1%.Mar '26: Promoters 74.9%, FIIs 0.7%, DIIs 0.1%, Government 0.2%, Public 24.1%.Jun '26: Promoters 74.9%, FIIs 0.5%, DIIs 0.3%, Government 0.2%, Public 24.1%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Dalmia Bharat Sugar and Industries Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Samagama Holdings And Commercial Private Limited 44.32%unchanged
Dalmia Bharat Limited 18.32%unchanged
Vanika Commercial And Holdings Private Limited 10.73%unchanged
Anil Kumar Goel 5.23%unchanged
Investor Education and Protection Fund 1.77%unchanged
Seema Goel 1.50%unchanged
J.H. Dalmia Trust 0.69%unchanged
Y.H. Dalmia Parivar Trust 0.40%unchanged
Shri Gautam Dalmia 0.19%unchanged
Alirox Abrasives Limited 0.15%unchanged
Sukeshi Dalmia Jaipuria 0.05%unchanged
Kavita Dalmia Parivar Trust 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.

What the price assumes

Growth trap

To justify its price of ₹417, 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 ₹181 — downside of 57%.

Growth the price implies
13.8% a year
for 7 years, fading to 4%
It has actually compounded at
-1.7% a year
net profit, FY23–FY26 · EPS -1.7%
The gap
0.2 pp
-57% downside if it only repeats history
Price today ₹417.35 Value at the reference growth ₹181.05

Change the assumptions yourself →

Learn to analyse Dalmia Bharat Sugar and Industries Limited

Guides on how to read this kind of business and the numbers that matter.