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Last Updated: April 2, 2026, 2:48 am
Author: Getaka|Social: XLinkedIn

Dalmia Bharat Sugar & Industries Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹368.22Fairly Valued by 3.86%vs CMP ₹383.00

P/E (9.2) × ROE (12.4%) × BV (₹399.00) × DY (1.56%)

₹435.25Undervalued by 13.64%vs CMP ₹383.00
MoS: +12% (Thin)Confidence: 45/100 (Moderate)Models: 4 Under, 3 Fair, 2 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹378.4122%Fair (-1.2%)
Graham NumberEarnings₹612.9516%Under (+60%)
Earnings PowerEarnings₹228.1313%Over (-40.4%)
DCFCash Flow₹448.9613%Under (+17.2%)
Net Asset ValueAssets₹397.937%Fair (+3.9%)
EV/EBITDAEnterprise₹525.769%Under (+37.3%)
Earnings YieldEarnings₹418.507%Fair (+9.3%)
ROCE CapitalReturns₹622.899%Under (+62.6%)
Revenue MultipleRevenue₹231.115%Over (-39.7%)
Consensus (9 models)₹435.25100%Undervalued

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 2.8%

*Investments are subject to market risks

Investment Snapshot

66
Dalmia Bharat Sugar & Industries Ltd scores 66/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health66/100 · Strong
ROCE 9.5% AverageROE 12.4% GoodD/E 0.78 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 74.9% Stable
Earnings Quality50/100 · Moderate
OPM stable around 14% Steady
Quarterly Momentum90/100 · Strong
Revenue (4Q): +5% YoY GrowingProfit (4Q): +31% YoY StrongOPM: 16.0% (up 4.0% YoY) Margin expansion
Industry Rank70/100 · Strong
P/E 9.2 vs industry 20.7 Cheaper than peersROCE 9.5% vs industry 8.6% AverageROE 12.4% vs industry 7.9% Above peers3Y sales CAGR: 8% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:48 am

Market Cap 3,104 Cr.
Current Price 383
Intrinsic Value₹435.25
High / Low 465/261
Stock P/E9.16
Book Value 399
Dividend Yield1.56 %
ROCE9.48 %
ROE12.4 %
Face Value 2.00
PEG Ratio3.31

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Dalmia Bharat Sugar & Industries Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Dalmia Bharat Sugar & Industries Ltd 3,104 Cr. 383 465/2619.16 3991.56 %9.48 %12.4 % 2.00
Bajaj Hindusthan Sugar Ltd 4,026 Cr. 17.0 29.6/14.8 29.80.00 %1.15 %0.54 % 1.00
Bannari Amman Sugars Ltd 4,578 Cr. 3,651 4,675/2,91532.4 1,4530.34 %8.68 %6.04 % 10.0
Avadh Sugar & Energy Ltd 942 Cr. 470 586/30612.5 5292.13 %9.19 %8.24 % 10.0
Uttam Sugar Mills Ltd 933 Cr. 245 331/1818.10 2051.02 %11.8 %12.4 % 10.0
Industry Average2,024.68 Cr265.4020.73225.550.76%8.62%7.89%6.37

All Competitor Stocks of Dalmia Bharat Sugar & Industries Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 6001,1498347325847509609208381,018941989698
Expenses 488941715666474631849853736823851932588
Operating Profit 11220811865109119111671011949056109
OPM % 19%18%14%9%19%16%12%7%12%19%10%6%16%
Other Income 2312956243716131920112029
Interest 9910168162612916161012
Depreciation 32343131323326323538323433
Profit before tax 93176877493107753676161533193
Tax % 31%30%30%26%33%14%27%-48%22%-28%25%25%25%
Net Profit 6512461556291555359206392370
EPS in Rs 8.0215.357.586.797.6811.296.776.597.3325.504.852.888.62

Last Updated: February 6, 2026, 5:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 23, 2026, 8:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,1901,1501,1661,6862,2442,0182,1102,6853,0073,2522,8993,7463,645
Expenses 1,0831,0379391,3072,0101,7811,7722,2132,5392,8152,4873,2763,195
Operating Profit 108113227378234237338472467437412470450
OPM % 9%10%19%22%10%12%16%18%16%13%14%13%12%
Other Income 201621243787605348771287480
Interest 767887102696988623538506355
Depreciation 4951113565452579695121127131137
Profit before tax 3047244148204252368386355363350338
Tax % -17%-429%-23%23%9%8%21%27%24%30%25%-11%
Net Profit 3158187134187198270295250272387339
EPS in Rs 0.370.187.2223.0916.5823.1624.4833.3136.5130.9133.6847.8141.85
Dividend Payout % 0%0%8%9%0%7%8%9%11%13%15%13%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-66.67%5700.00%222.41%-28.34%39.55%5.88%36.36%9.26%-15.25%8.80%42.28%
Change in YoY Net Profit Growth (%)0.00%5766.67%-5477.59%-250.76%67.89%-33.67%30.48%-27.10%-24.51%24.05%33.48%

Dalmia Bharat Sugar & Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:13%
5 Years:12%
3 Years:8%
TTM:23%
Compounded Profit Growth
10 Years:60%
5 Years:14%
3 Years:10%
TTM:44%
Stock Price CAGR
10 Years:33%
5 Years:23%
3 Years:2%
1 Year:-19%
Return on Equity
10 Years:12%
5 Years:11%
3 Years:10%
Last Year:12%

Last Updated: September 5, 2025, 2:35 am

Balance Sheet

Last Updated: December 4, 2025, 1:09 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 16161616161616161616161616
Reserves 4454424951,2341,4331,5341,5922,0742,3432,6892,9163,2183,209
Borrowings 8129311,1381,2147761,0371,2779588194541,4301,044547
Other Liabilities 444443411459632620642629645644800585462
Total Liabilities 1,7161,8332,0592,9232,8573,2073,5283,6773,8223,8035,1624,8634,234
Fixed Assets 7677467521,2801,2931,3161,3531,3081,5311,6521,8471,8041,600
CWIP 1328627116275921133188212
Investments 7883922754352884475635947366295831,040
Other Assets 8589761,2091,3661,1221,5921,7221,7781,6391,3932,5542,2891,383
Total Assets 1,7161,8332,0592,9232,8573,2073,5283,6773,8223,8035,1624,8634,234

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 267-11-2476659-220209346567583-239450
Cash from Investing Activity + -185-43-77-65-131-30-32936-327-192-257-108
Cash from Financing Activity + -61421122-528219145-364-217-419902-480
Net Cash Flow 21-1311131-31251823-29405-137
Free Cash Flow 91-61-1105588-327119274234365-624309
CFO/OP 248%-28%-7%32%301%-75%75%75%133%162%-38%96%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-704.00-818.00226.00377.00-542.00236.00337.00-486.00-352.00-17.00411.00469.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 62533241237291619171513
Inventory Days 252310476367161284345274213163329222
Days Payable 11313312562921091025443337127
Cash Conversion Cycle 14420238432981212272237188147273208
Working Capital Days 16450342082456467814598
ROCE %6%5%8%17%9%11%12%14%14%12%10%9%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 74.91%74.91%74.91%74.92%74.92%74.92%74.92%74.92%74.92%74.92%74.92%74.92%
FIIs 1.03%0.90%0.97%1.07%1.03%0.96%1.02%0.89%0.75%1.08%0.97%0.70%
DIIs 0.06%0.06%0.08%0.08%0.09%0.09%0.05%0.05%0.05%0.05%0.05%0.09%
Government 0.16%0.16%0.16%0.16%0.16%0.16%0.16%0.16%0.16%0.16%0.16%0.16%
Public 23.82%23.96%23.88%23.78%23.81%23.87%23.85%23.99%24.11%23.77%23.89%24.12%
No. of Shareholders 43,36841,49141,48545,07047,02647,90645,95345,93446,07643,98146,42746,543

Shareholding Pattern Chart

No. of Shareholders

Dalmia Bharat Sugar & Industries Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Motilal Oswal Nifty Microcap 250 Index Fund 20,605 0.17 0.9520,6052025-04-22 15:56:590%
Groww Nifty Total Market Index Fund 52 0.01 0522025-04-22 17:25:370%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 33.6630.9036.5433.4023.87
Diluted EPS (Rs.) 33.6630.9036.5433.4023.87
Cash EPS (Rs.) 49.3445.8748.2345.2030.93
Book Value[Excl.RevalReserv]/Share (Rs.) 362.22334.15291.42264.69187.62
Book Value[Incl.RevalReserv]/Share (Rs.) 362.22334.15291.42264.69187.62
Revenue From Operations / Share (Rs.) 358.17401.74372.85331.76260.75
PBDIT / Share (Rs.) 66.7663.2663.2065.0348.56
PBIT / Share (Rs.) 51.0848.2851.5053.2341.49
PBT / Share (Rs.) 44.8943.6347.2045.5830.57
Net Profit / Share (Rs.) 33.6630.8936.5333.4023.87
NP After MI And SOA / Share (Rs.) 33.6630.8936.5333.4023.87
PBDIT Margin (%) 18.6415.7416.9519.6018.62
PBIT Margin (%) 14.2612.0113.8116.0415.91
PBT Margin (%) 12.5310.8612.6513.7411.72
Net Profit Margin (%) 9.397.689.7910.069.15
NP After MI And SOA Margin (%) 9.397.689.7910.069.15
Return on Networth / Equity (%) 9.299.2412.5312.6112.72
Return on Capital Employeed (%) 11.6011.8814.3516.8416.06
Return On Assets (%) 5.276.577.737.245.61
Long Term Debt / Equity (X) 0.110.120.140.100.27
Total Debt / Equity (X) 0.480.160.340.440.78
Asset Turnover Ratio (%) 0.640.850.800.750.62
Current Ratio (X) 1.552.732.081.731.43
Quick Ratio (X) 0.440.700.720.560.44
Inventory Turnover Ratio (X) 1.881.841.471.391.35
Dividend Payout Ratio (NP) (%) 14.1112.9416.410.0018.18
Dividend Payout Ratio (CP) (%) 9.628.7212.430.0014.02
Earning Retention Ratio (%) 85.8987.0683.590.0081.82
Cash Earning Retention Ratio (%) 90.3891.2887.570.0085.98
Interest Coverage Ratio (X) 10.7913.5914.698.514.45
Interest Coverage Ratio (Post Tax) (X) 6.447.599.545.383.19
Enterprise Value (Cr.) 3651.883109.744615.192388.231521.35
EV / Net Operating Revenue (X) 1.260.951.530.880.72
EV / EBITDA (X) 6.766.079.024.543.87
MarketCap / Net Operating Revenue (X) 0.940.831.290.560.18
Retention Ratios (%) 85.8887.0583.580.0081.81
Price / BV (X) 0.931.011.650.700.26
Price / Net Operating Revenue (X) 0.940.831.290.560.18
EarningsYield 0.090.090.070.170.48

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Dalmia Bharat Sugar and Industries Ltd. is a Public Limited Listed company incorporated on 01/11/1951 and has its registered office in the State of Tamil Nadu, India. Company's Corporate Identification Number(CIN) is L15100TN1951PLC000640 and registration number is 000640. Currently Company is involved in the business activities of Manufacture or refining of sugar (sucrose) from sugercane. Company's Total Operating Revenue is Rs. 3745.78 Cr. and Equity Capital is Rs. 16.19 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
SugarDalmiapuram, Tiruchirapalli Dist. Tamil Nadu 621651Contact not found
Management
NamePosition Held
Mr. Rajeev BakshiChairman & Ind.Director
Mr. Gautam DalmiaManaging Director
Mr. Pankaj RastogiWholeTime Director & CEO
Mr. Bharat Bhushan MehtaNon Executive Director
Mr. Venkatesan ThyagarajanNon Executive Director
Ms. Amita MisraIndependent Director
Mr. Neeraj ChandraIndependent Director

FAQ

What is the intrinsic value of Dalmia Bharat Sugar & Industries Ltd and is it undervalued?

As of 15 April 2026, Dalmia Bharat Sugar & Industries Ltd's intrinsic value is ₹435.25, which is 13.64% higher than the current market price of ₹383.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (12.4 %), book value (₹399), dividend yield (1.56 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Dalmia Bharat Sugar & Industries Ltd?

Dalmia Bharat Sugar & Industries Ltd is trading at ₹383.00 as of 15 April 2026, with a FY2026-2027 high of ₹465 and low of ₹261. The stock is currently in the middle of its 52-week range. Market cap stands at ₹3,104 Cr..

How does Dalmia Bharat Sugar & Industries Ltd's P/E ratio compare to its industry?

Dalmia Bharat Sugar & Industries Ltd has a P/E ratio of 9.16, which is below the industry average of 20.73. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Dalmia Bharat Sugar & Industries Ltd financially healthy?

Key indicators for Dalmia Bharat Sugar & Industries Ltd: ROCE of 9.48 % is on the lower side compared to the industry average of 8.62%. Dividend yield is 1.56 %.

Is Dalmia Bharat Sugar & Industries Ltd profitable and how is the profit trend?

Dalmia Bharat Sugar & Industries Ltd reported a net profit of ₹387 Cr in Mar 2025 on revenue of ₹3,746 Cr. Compared to ₹295 Cr in Mar 2022, the net profit shows an improving trend.

Does Dalmia Bharat Sugar & Industries Ltd pay dividends?

Dalmia Bharat Sugar & Industries Ltd has a dividend yield of 1.56 % at the current price of ₹383.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Dalmia Bharat Sugar & Industries Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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