MAWANASUG
Mawana Sugars financials
- Market cap
- ₹527 Cr
- Sector
- Fast Moving Consumer Goods
What Mawana Sugars Limited does
Mawana Sugars Limited crushes sugarcane at two factories in Meerut district, Uttar Pradesh — Mawana Sugar Works and Nanglamal Sugar Complex — to produce sugar. Molasses from the sugar process is converted into ethanol (industrial alcohol) at its distillery division, and bagasse is used to co-generate steam and power for the mills. The company also holds Mawana Foods Private Limited as a wholly owned subsidiary, which is proposed to be amalgamated into the parent.
Segments
- Sugar
- Distillery
- Co-generation
- Manufacturing plants
- 2 (Mawana Sugar Works & Nanglamal Sugar Complex, both Meerut, Uttar Pradesh)
- Sugarcane crushed
- 25.66 lac MT (Season 2025-26)
- Sugar produced
- 2.62 lac MT (Season 2025-26)
- Net sugar recovery
- 10.20% of cane (Season 2025-26)
- Ethanol produced
- 33,798 KL (FY26)
- Ethanol allocation (ESY 2025-26)
- 38,000 KL from B-heavy & C-heavy molasses
Quarterly results
Q1 FY27: revenue up 3.7%, net profit down 64.3% 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 | 382 | 334 | 343 | 401 | 429 +12% | 367 +10% | 374 +9% | 416 +4% |
| EBITDA | -10 | 29 | 89 | -1 | -10 +0% | 28 −3% | 88 −1% | -17 −1600% |
| Net profit | -20 | 73 | 62 | -14 | -16 +20% | 4 −95% | 63 +2% | -23 −64% |
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 +45.9% 1Y
1Y: ₹92.29 on 10 Sept 2025 → ₹134.63. High ₹152.54 (21 Aug 2026), low ₹76.08 (16 Mar 2026).
Financials, as filed
Revenue grew 2.0% a year over 3 years, FY23 to FY26. Operating margin widened to 6.7%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1.5k Cr | ₹1.4k Cr | ₹1.4k Cr | ₹1.6k Cr |
| Operating profit | ₹76 Cr | ₹90 Cr | ₹123 Cr | ₹105 Cr |
| Operating margin | 5.2% | 6.6% | 8.5% | 6.7% |
| Interest | ₹28 Cr | ₹30 Cr | ₹29 Cr | ₹22 Cr |
| Depreciation | ₹35 Cr | ₹35 Cr | ₹34 Cr | ₹30 Cr |
| Net profit | ₹13 Cr | ₹38 Cr | ₹110 Cr | ₹37 Cr |
| Net margin | 0.9% | 2.8% | 7.6% | 2.4% |
| Cash from operations | ₹108 Cr | ₹-164 Cr | ₹114 Cr | ₹73 Cr |
| Free cash flow | ₹74 Cr | ₹-166 Cr | ₹87 Cr | ₹41 Cr |
| ROCE | 6.0% | 7.0% | 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 ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹39 Cr | ₹39 Cr | ₹39 Cr | ₹39 Cr | ₹39 Cr | ₹39 Cr |
| Reserves | ₹331 Cr | ₹345 Cr | ₹345 Cr | ₹371 Cr | ₹419 Cr | ₹486 Cr |
| Borrowings | ₹276 Cr | ₹417 Cr | ₹383 Cr | ₹568 Cr | ₹8 Cr | ₹420 Cr |
| Other liabilities | ₹735 Cr | ₹250 Cr | ₹266 Cr | ₹200 Cr | ₹100 Cr | ₹177 Cr |
| Total liabilities | ₹1.4k Cr | ₹1.1k Cr | ₹1.0k Cr | ₹1.2k Cr | ₹567 Cr | ₹1.1k Cr |
| Fixed assets | ₹232 Cr | ₹212 Cr | ₹197 Cr | ₹204 Cr | ₹178 Cr | ₹188 Cr |
| Capital work in progress | ₹13 Cr | ₹3 Cr | ₹16 Cr | ₹1 Cr | ₹22 Cr | ₹1 Cr |
| Investments | ₹10 Cr | ₹4 Cr | ₹3 Cr | ₹3 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹1.1k Cr | ₹832 Cr | ₹817 Cr | ₹972 Cr | ₹366 Cr | ₹934 Cr |
| Total assets | ₹1.4k Cr | ₹1.1k Cr | ₹1.0k Cr | ₹1.2k Cr | ₹567 Cr | ₹1.1k 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, the public added +0.53 pp while FIIs trimmed −0.51 pp. The shareholder count shrank 4% to 53,965.
- Promoters
- 63.5%
- FIIs
- 0.5%
- DIIs
- 0.1%
- Public
- 36.0%
Since Jun 2025
- Public +0.53 pp
- FIIs −0.51 pp
- DIIs −0.01 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 63.5%, FIIs 0.9%, DIIs 0.3%, Public 35.3%.Dec '23: Promoters 63.5%, FIIs 0.3%, DIIs 0.3%, Public 35.9%.Mar '24: Promoters 63.5%, FIIs 0.5%, DIIs 0.3%, Public 35.8%.Jun '24: Promoters 63.5%, FIIs 0.6%, DIIs 0.3%, Public 35.6%.Sep '24: Promoters 63.5%, FIIs 0.9%, DIIs 0.1%, Public 35.6%.Dec '24: Promoters 63.5%, FIIs 0.4%, DIIs 0.1%, Public 36.0%.Mar '25: Promoters 63.5%, FIIs 0.4%, DIIs 0.1%, Public 36.0%.Jun '25: Promoters 63.5%, FIIs 1.0%, DIIs 0.1%, Public 35.5%.Sep '25: Promoters 63.5%, FIIs 0.6%, DIIs 0.1%, Public 35.9%.Dec '25: Promoters 63.5%, FIIs 0.4%, DIIs 0.1%, Public 36.0%.Mar '26: Promoters 63.5%, FIIs 0.6%, DIIs 0.1%, Public 35.9%.Jun '26: Promoters 63.5%, FIIs 0.5%, DIIs 0.1%, Public 36.0%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Mawana Sugars Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Mr.Krishna Shriram | 62.93% | unchanged |
| Mr.Krishna Shriram (Trustee of Enterprise Trust) | 0.55% | unchanged |
| Mrs. Roula Shriram | 0.00% | 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.
Learn to analyse Mawana Sugars Limited
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