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Last Updated on: 27 July, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 532610 | NSE: DWARKESH

Fundamental Analysis of Dwarikesh Sugar Industries Ltd

About the Company - Dwarikesh Sugar Industries Ltd

Dwarikesh Sugar Industries Ltd. is a Public Limited Listed company incorporated on 01/11/1993 and has its registered office in the State of Uttar Pradesh, India. Company’s Corporate Identification Number(CIN) is L15421UP1993PLC018642 and registration number is 018642. Currently company belongs to the Industry of Sugar. Company’s Total Operating Revenue is Rs. 1974.06 Cr. and Equity Capital is Rs. 18.83 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
SugarDwarikesh Nagar, Bijnor District Uttar Pradesh 246762investors@dwarikesh.com
http://www.dwarikesh.com
Management
NamePosition Held
Mr. G R MorarkaExecutive Chairman
Mr. Vijay S BankaManaging Director
Mr. B J MaheshwariManaging Director
Mr. K N PrithvirajIndependent Director
Ms. Nina ChatrathIndependent Director
Mr. Gopal B HosurIndependent Director
Mr. Rajan K MedhekarIndependent Director

Basic Stock Data of Dwarikesh Sugar Industries Ltd

Last Updated: July 26, 2024, 10:50 pm

Market Cap 1,380 Cr.
Current Price 74.5
High / Low110/62.0
Stock P/E16.5
Book Value 43.7
Dividend Yield2.68 %
ROCE13.7 %
ROE10.7 %
Face Value 1.00
PEG Ratio2.09

Data Source: screener.in

Competitors of Dwarikesh Sugar Industries Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Dhampure Speciality Sugars Ltd 72.3 Cr. 91.2116/42.073.0 33.60.00 %3.15 %3.78 % 10.0
Dhampur Bio Organics Ltd 898 Cr. 135189/11226.4 1521.85 %5.02 %3.67 % 10.0
DCM Shriram Industries Ltd 1,905 Cr. 219242/11316.6 93.70.91 %16.1 %14.9 % 2.00
Davangere Sugar Company Ltd 719 Cr. 7.6412.0/6.7259.6 3.610.00 %6.86 %3.75 % 1.00
Piccadily Agro Industries Ltd 7,431 Cr. 788903/65.884.8 36.00.03 %29.6 %30.7 % 10.0
Industry Average2,099.00 Cr309.8729.19213.770.69%10.00%13.61%6.75

Dwarikesh Sugar Industries Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales381.14599.96392.22505.78601.35475.36646.46540.11383.84532.55571.21445.50312.91
Expenses358.01517.55333.68431.07546.29372.90573.16511.80357.34446.12494.14416.78286.93
Operating Profit23.1382.4158.5474.7155.06102.4673.3028.3126.5086.4377.0728.7225.98
OPM %6.07%13.74%14.93%14.77%9.16%21.55%11.34%5.24%6.90%16.23%13.49%6.45%8.30%
Other Income4.051.351.040.670.970.501.952.317.891.890.333.186.05
Interest9.6310.1213.718.603.895.457.766.166.005.925.513.504.26
Depreciation10.2810.3610.2410.5911.0311.7710.7913.2713.3712.8112.8013.4713.59
Profit before tax7.2763.2835.6356.1941.1185.7456.7011.1915.0269.5959.0914.9314.18
Tax %-2.75%23.77%23.97%29.49%29.75%30.48%30.00%29.94%29.96%32.82%31.24%31.28%30.75%
Net Profit7.4748.2327.1039.6328.8859.6139.707.8410.5246.7540.6210.269.81
EPS in Rs0.402.561.442.101.533.172.110.420.562.482.160.540.52

Last Updated: July 10, 2024, 4:41 pm

Dwarikesh Sugar Industries Ltd Quarterly Chart

Dwarikesh Sugar Industries Ltd Profit & Loss

Last Updated: July 10, 2024, 4:41 pm

MonthSep 2011Sep 2012Sep 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales5936999281,1287941,1901,4301,0841,3361,8391,9792,1031,862
Expenses5196058691,0436869171,2879551,2001,6381,6881,8901,644
Operating Profit75945986108273142129136201291213218
OPM %13%13%6%8%14%23%10%12%10%11%15%10%12%
Other Income021310131817365731511
Interest60797175525225213348322619
Depreciation33333347313032333741445053
Profit before tax-18-16-32-273920910211172120219152158
Tax %26%28%39%37%1%25%1%14%-3%24%29%31%
Net Profit-13-11-19-1739156101957392155105107
EPS in Rs-0.81-0.69-1.19-1.032.398.295.395.053.904.868.245.575.70
Dividend Payout %0%0%0%0%0%12%0%20%26%26%24%36%

Dwarikesh Sugar Industries Ltd Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)329.41%300.00%-35.26%-5.94%-23.16%26.03%68.48%-32.26%
Change in YoY Net Profit Growth (%)0.00%-29.41%-335.26%29.32%-17.22%49.19%42.45%-100.74%

Dwarikesh Sugar Industries Ltd Growth

Compounded Sales Growth
10 Years:6%
5 Years:10%
3 Years:-2%
TTM:-19%
Compounded Profit Growth
10 Years:20%
5 Years:-3%
3 Years:-3%
TTM:-20%
Stock Price CAGR
10 Years:35%
5 Years:27%
3 Years:0%
1 Year:-21%
Return on Equity
10 Years:21%
5 Years:16%
3 Years:16%
Last Year:11%

Last Updated: July 25, 2024, 4:53 am

Dwarikesh Sugar Industries Ltd Balance Sheet

Last Updated: July 10, 2024, 4:41 pm

MonthSep 2011Sep 2012Sep 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital16161616161919191919191919
Reserves104103735670267347445465560654721772
Preference Capital16163131310000000
Borrowings467525392624656533342656846609524375268
Other Liabilities6610817930226020027624627925722216684
Total Liabilities6537526609991,0011,0199841,3651,6091,4451,4201,2801,143
Fixed Assets496470440399356331341319430410388582579
CWIP50000101621142018
Investments0000000000000
Other Assets1532822206006446876421,0291,1771,035889697545
Total Assets6537526609991,0011,0199841,3651,6091,4451,4201,2801,143

Dwarikesh Sugar Industries Ltd Reserves and Borrowings Chart

Dwarikesh Sugar Industries Ltd Cash Flow

MonthSep 2012Sep 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity 8203-15137141298-2501129633931413
Cash from Investing Activity -3-4-4-13-5-41-44-111-18-198-92-41
Cash from Financing Activity -4-199154-20-140-256292101-280-141-22227
Net Cash Flow11-14-42-21-200-0

Dwarikesh Sugar Industries Ltd Financial Efficiency Indicators

MonthSep 2011Sep 2012Sep 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days013114301714202713612
Inventory Days11316989195333286172388330223191128
Days Payable6745808936708675492413
Cash Conversion Cycle10717544129273267116322281187173128
Working Capital Days3053-9751521317923817814811288
ROCE %7%10%7%8%11%32%17%14%9%13%21%15%

Dwarikesh Sugar Industries Ltd Financial Efficiency Indicators Chart

Dwarikesh Sugar Industries Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters42.08%42.08%42.09%42.09%42.09%42.09%42.09%42.09%42.09%42.09%42.09%42.09%
FIIs0.38%2.24%2.76%4.09%7.70%7.16%7.01%5.66%4.37%4.53%5.31%3.97%
DIIs3.91%4.04%3.91%3.91%3.24%3.25%3.25%3.27%3.27%3.25%0.06%0.07%
Government0.13%0.13%0.13%0.13%0.13%0.13%0.13%0.13%0.13%0.13%0.13%0.13%
Public53.50%51.51%51.11%49.78%46.83%47.36%47.51%48.84%50.14%50.00%52.40%53.75%
No. of Shareholders45,18979,06899,2571,00,7061,42,4181,56,9021,62,4141,60,4831,62,4161,59,0711,66,2791,78,492

Dwarikesh Sugar Industries Ltd Shareholding Pattern Chart

No. of Dwarikesh Sugar Industries Ltd Shareholders

Dwarikesh Sugar Industries Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Motilal Oswal Nifty Microcap 250 Index Fund120,8850.191.1120,8852024-07-240%
Groww Nifty Total Market Index Fund3080.010120,8852024-07-24-99.75%

Dwarikesh Sugar Industries Ltd ROCE Trend

Dwarikesh Sugar Industries Ltd EPS Trend

Dwarikesh Sugar Industries Ltd Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue1.001.001.001.001.00
Basic EPS (Rs.)4.445.578.244.863.90
Diluted EPS (Rs.)4.445.578.244.863.90
Cash EPS (Rs.)7.228.2310.567.035.86
Book Value[Excl.RevalReserv]/Share (Rs.)43.6639.2935.7630.7425.69
Book Value[Incl.RevalReserv]/Share (Rs.)43.6639.2935.7630.7425.69
Dividend / Share (Rs.)0.002.002.001.251.00
Revenue From Operations / Share (Rs.)90.79111.68104.8497.6570.96
PBDIT / Share (Rs.)11.5012.1415.6111.067.51
PBIT / Share (Rs.)8.729.4713.298.895.55
PBT / Share (Rs.)7.658.1011.616.363.80
Net Profit / Share (Rs.)4.445.578.244.863.90
PBDIT Margin (%)12.6710.8614.8911.3310.58
PBIT Margin (%)9.598.4812.689.107.82
PBT Margin (%)8.427.2511.076.515.35
Net Profit Margin (%)4.884.987.864.975.49
Return on Networth / Equity (%)10.1514.1623.0515.8115.18
Return on Capital Employeed (%)15.8918.1627.8722.3314.89
Return On Assets (%)5.908.1810.936.334.56
Long Term Debt / Equity (X)0.170.280.290.250.39
Total Debt / Equity (X)0.540.500.770.961.35
Asset Turnover Ratio (%)1.271.561.381.200.89
Current Ratio (X)2.162.301.621.411.21
Quick Ratio (X)0.210.410.170.180.20
Inventory Turnover Ratio (X)2.192.161.701.551.28
Dividend Payout Ratio (NP) (%)0.0035.9339.420.0051.27
Dividend Payout Ratio (CP) (%)0.0024.2830.770.0034.13
Earning Retention Ratio (%)0.0064.0760.580.0048.73
Cash Earning Retention Ratio (%)0.0075.7269.230.0065.87
Interest Coverage Ratio (X)10.768.849.294.374.28
Interest Coverage Ratio (Post Tax) (X)5.155.055.902.923.22
Enterprise Value (Cr.)1725.651938.622843.431135.57962.03
EV / Net Operating Revenue (X)1.010.921.440.610.72
EV / EBITDA (X)7.978.489.675.456.80
MarketCap / Net Operating Revenue (X)0.760.761.200.310.23
Retention Ratios (%)0.0064.0660.570.0048.72
Price / BV (X)1.592.173.511.000.64
Price / Net Operating Revenue (X)0.760.761.200.310.23
EarningsYield0.060.060.060.150.23

Dwarikesh Sugar Industries Ltd Profitability Ratios (%)

Dwarikesh Sugar Industries Ltd Liquidity Ratios

Dwarikesh Sugar Industries Ltd Liquidity Ratios (%)

Dwarikesh Sugar Industries Ltd Interest Coverage Ratios (X)

Dwarikesh Sugar Industries Ltd Valuation Ratios

Fair Value

Fair Value: 79.22

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 6.34% compared to the current price 74.5

Intrinsic Value: 85.47

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 14.72% compared to the current price 74.5

Last 5 Year EPS CAGR: 7.89%

*Investments are subject to market risks

Strength and Weakness of Dwarikesh Sugar Industries Ltd

StrengthWeakness
  1. The company has shown consistent growth in sales (232.62 cr) and profit (83.77 cr) over the years.
  1. The stock has a low average ROCE of 13.67%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 106.25, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 183.50, which may not be favorable.
  4. The company has higher borrowings (553.92) compared to reserves (380.33), which may suggest financial risk.

Should I Buy Dwarikesh Sugar Industries Ltd Share Now?

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Dwarikesh Sugar Industries Ltd:
    1. ✓ Net Profit Margin: 4.88%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ✓ ROCE: 15.89% (Industry Average ROCE: 10.00%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ✗ ROE%: 10.15% (Industry Average ROE: 13.61%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. ✓ Interest Coverage Ratio (Post Tax): 5.15
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. ✗ Quick Ratio: 0.21
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. ✓ Stock P/E: 16.5 (Industry average Stock P/E: 29.19)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. ✓ Total Debt / Equity: 0.54
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating: ★★★★☆

FAQ

What is the latest fair value of Dwarikesh Sugar Industries Ltd?

The latest fair value of Dwarikesh Sugar Industries Ltd is ₹79.22.

What is the Market Cap of Dwarikesh Sugar Industries Ltd?

The Market Cap of Dwarikesh Sugar Industries Ltd is 1,380 Cr..

What is the current Stock Price of Dwarikesh Sugar Industries Ltd as on 27 July 2024?

The current stock price of Dwarikesh Sugar Industries Ltd as on 27 July 2024 is 74.5.

What is the High / Low of Dwarikesh Sugar Industries Ltd stocks in FY 2024?

In FY 2024, the High / Low of Dwarikesh Sugar Industries Ltd stocks is 110/62.0.

What is the Stock P/E of Dwarikesh Sugar Industries Ltd?

The Stock P/E of Dwarikesh Sugar Industries Ltd is 16.5.

What is the Book Value of Dwarikesh Sugar Industries Ltd?

The Book Value of Dwarikesh Sugar Industries Ltd is 43.7.

What is the Dividend Yield of Dwarikesh Sugar Industries Ltd?

The Dividend Yield of Dwarikesh Sugar Industries Ltd is 2.68 %.

What is the ROCE of Dwarikesh Sugar Industries Ltd?

The ROCE of Dwarikesh Sugar Industries Ltd is 13.7 %.

What is the ROE of Dwarikesh Sugar Industries Ltd?

The ROE of Dwarikesh Sugar Industries Ltd is 10.7 %.

What is the Face Value of Dwarikesh Sugar Industries Ltd?

The Face Value of Dwarikesh Sugar Industries Ltd is 1.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

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 Dwarikesh 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