DAVANGERE
Davangere Sugar Company financials
- Market cap
- ₹318 Cr
- Sector
- Fast Moving Consumer Goods
What Davangere Sugar Company Limited does
Davangere Sugar Company Limited crushes sugarcane into white crystal sugar at its Kukkuwada (Karnataka) facility and runs a dual-feed distillery that converts sugar syrup, molasses and grain into ethanol and other spirits. It also operates a bagasse/molasses-fired co-generation power plant that supplies captive power and exports surplus electricity. The company sources cane from a network of nearby farmers and sells sugar, ethanol, power and by-products such as molasses, press mud and potash.
Segments
- Sugar
- Ethanol / Distillery
- Co-generation Power
- Sugarcane crushing capacity
- 4,750 TCD
- Ethanol distillation capacity
- 65 KLPD (expansion to 85 KLPD underway)
- Co-generation power capacity
- 24.45 MW
- Manufacturing facility land
- 165 acres, Kukkuwada, Karnataka
- Farmer network
- 4,990 farmers (as of 31-Mar-2025)
- Sugarcane cultivation belt
- 30,000 acres (irrigated, within ~35 km of factory)
Quarterly results
Q1 FY27: revenue up 44.2%, net profit down 27.7% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 39 | 73 | 57 | 24 | 48 +23% | 83 +13% | 84 +47% | 35 +44% |
| EBITDA | 15 | 18 | 10 | 11 | 15 +5% | 13 −26% | 8 −13% | 11 −2% |
| Net profit | 1 | 7 | 2 | 1 | 3 +104% | 3 −61% | 2 +1% | 1 −28% |
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 −46.4% 1Y
1Y: ₹3.92 on 10 Sept 2025 → ₹2.1. High ₹5.15 (20 Jan 2026), low ₹1.75 (9 Sept 2026).
Financials, as filed
Revenue fell 5.2% a year over 3 years, FY23 to FY26. Operating margin widened to 20.4%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹280 Cr | ₹217 Cr | ₹215 Cr | ₹239 Cr |
| Operating profit | ₹56 Cr | ₹45 Cr | ₹52 Cr | ₹49 Cr |
| Operating margin | 19.9% | 20.9% | 24.2% | 20.4% |
| Interest | ₹27 Cr | ₹25 Cr | ₹28 Cr | ₹27 Cr |
| Depreciation | ₹12 Cr | ₹12 Cr | ₹13 Cr | ₹13 Cr |
| Net profit | ₹13 Cr | ₹12 Cr | ₹11 Cr | ₹9 Cr |
| Net margin | 4.7% | 5.6% | 5.1% | 3.6% |
| Cash from operations | ₹81 Cr | ₹2 Cr | ₹-5 Cr | ₹-47 Cr |
| Free cash flow | ₹61 Cr | ₹-20 Cr | ₹-8 Cr | ₹-47 Cr |
| ROCE | 8.0% | 7.0% | 7.0% | 6.0% |
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 ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹56 Cr | ₹56 Cr | ₹94 Cr | ₹94 Cr | ₹143 Cr | ₹143 Cr |
| Reserves | ₹190 Cr | ₹196 Cr | ₹218 Cr | ₹248 Cr | ₹360 Cr | ₹362 Cr |
| Borrowings | ₹132 Cr | ₹259 Cr | ₹245 Cr | ₹282 Cr | ₹200 Cr | ₹250 Cr |
| Other liabilities | ₹61 Cr | ₹63 Cr | ₹40 Cr | ₹97 Cr | ₹70 Cr | ₹84 Cr |
| Total liabilities | ₹439 Cr | ₹574 Cr | ₹597 Cr | ₹721 Cr | ₹773 Cr | ₹839 Cr |
| Fixed assets | ₹271 Cr | ₹346 Cr | ₹350 Cr | ₹357 Cr | ₹343 Cr | ₹337 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹2 Cr | ₹4 Cr | ₹4 Cr | ₹5 Cr | ₹5 Cr | ₹5 Cr |
| Other assets | ₹165 Cr | ₹224 Cr | ₹243 Cr | ₹360 Cr | ₹425 Cr | ₹497 Cr |
| Total assets | ₹439 Cr | ₹574 Cr | ₹597 Cr | ₹721 Cr | ₹773 Cr | ₹839 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 Aug 2026
Since Sep 2025, FIIs added +15.88 pp while the public trimmed −9.34 pp.
- Promoters
- 35.1%
- FIIs
- 15.9%
- Public
- 49.0%
Since Sep 2025
- FIIs +15.88 pp
- Public −9.34 pp
- Promoters −6.54 pp
How it drifted, 12 quarters
Over this window promoters fell from 74.4% to 35.1% — −39.3 pp.
Ownership split by quarter, oldest first. Dec '23: Promoters 74.4%, Public 25.6%.Mar '24: Promoters 70.7%, FIIs 0.0%, Public 29.3%.Jun '24: Promoters 60.9%, FIIs 0.0%, Public 39.1%.Sep '24: Promoters 54.3%, Public 45.7%.Dec '24: Promoters 54.3%, Public 45.7%.Mar '25: Promoters 52.3%, Public 47.7%.Jun '25: Promoters 47.9%, FIIs 0.0%, Public 52.1%.Sep '25: Promoters 41.6%, Public 58.4%.Dec '25: Promoters 41.8%, FIIs 7.0%, Public 51.2%.Mar '26: Promoters 41.8%, FIIs 7.0%, Public 51.2%.Jun '26: Promoters 41.6%, DIIs 0.0%, Public 58.4%.Aug '26: Promoters 35.1%, FIIs 15.9%, Public 49.0%.
Who bought this quarter
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Wave Capital Ltd FPI fund newly disclosed 6.27% held
- Emerging Market Opportunities LTD newly disclosed 4.70% held
- Global Focus Fund FPI fund newly disclosed 4.70% held
- Tradeflow Dynamics Private Limited newly disclosed 2.09% held
The same filing shows 10 holders trimming and 3 off the list — both are in the register beside this.
Who is on the register
Named in the Aug 2026 filing
Every holder of Davangere Sugar Company Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| Ganesh S S | 21.08% | −3.91 pp |
| Wave Capital Ltd FPI fund | 6.27% | newly disclosed |
| Mafatlal Plywood Industries Private Limited | 4.72% | −0.87 pp |
| Emerging Market Opportunities LTD | 4.70% | newly disclosed |
| Global Focus Fund FPI fund | 4.70% | newly disclosed |
| Abhijith Ganesh Shamanur | 4.08% | −0.76 pp |
| Rekha Ganesh . | 3.70% | −0.69 pp |
| Chungath Karunakaran Padma Kumar | 2.89% | −0.53 pp |
| Tradeflow Dynamics Private Limited | 2.09% | newly disclosed |
| Ravi Seeds And Research Private Limited | 1.89% | −0.35 pp |
| Bavaguthu Raghuram Shetty . | 1.18% | −0.22 pp |
| L7 Hitech Private Limited | 1.11% | −0.70 pp |
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.
Learn to analyse Davangere Sugar Company Limited
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