Vishwaraj Sugar Industries Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 29, 2024, 8:52 pm

Market Cap	323 Cr.
Current Price	14.8
High / Low	22.0/14.1
Stock P/E
Book Value	12.8
Dividend Yield	1.35 %
ROCE	8.60 %
ROE	5.72 %
Face Value	2.00
PEG Ratio	0.00

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for Vishwaraj Sugar Industries Ltd

Competitors of Vishwaraj Sugar Industries Ltd

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Gayatri Sugars Ltd	93.5 Cr.	14.4	27.9/13.3		20.0	0.00 %	93.2 %	%	10.0
Dhampure Speciality Sugars Ltd	100 Cr.	127	142/75.7	68.4	35.6	0.00 %	3.15 %	3.78 %	10.0
Dhampur Bio Organics Ltd	760 Cr.	115	164/112	72.3	146	2.18 %	5.02 %	3.67 %	10.0
DCM Shriram Industries Ltd	1,574 Cr.	181	242/150	12.9	100	1.11 %	16.1 %	14.9 %	2.00
Davangere Sugar Company Ltd	500 Cr.	5.31	11.5/5.01	40.3	3.64	0.00 %	6.86 %	3.75 %	1.00
Industry Average	2,271.29 Cr	311.56		31.02	224.52	0.67%	13.00%	13.21%	6.37

All Competitor Stocks of Vishwaraj Sugar Industries Ltd

Quarterly Result

Month	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Sales	161.73	102.03	102.55	133.28	130.89	216.67	99.15	101.61	199.07	141.71	138.05	106.24	163.71
Expenses	142.19	98.77	91.09	89.60	95.83	211.36	100.17	52.03	186.74	140.02	139.42	62.86	141.20
Operating Profit	19.54	3.26	11.46	43.68	35.06	5.31	-1.02	49.58	12.33	1.69	-1.37	43.38	22.51
OPM %	12.08%	3.20%	11.18%	32.77%	26.79%	2.45%	-1.03%	48.79%	6.19%	1.19%	-0.99%	40.83%	13.75%
Other Income	0.55	0.09	0.17	0.89	0.37	0.57	0.49	1.02	0.78	0.64	0.62	0.60	0.64
Interest	9.10	8.10	7.80	7.11	9.27	8.26	6.13	6.72	6.43	7.49	6.67	7.02	9.32
Depreciation	3.50	3.69	3.63	3.66	3.65	3.88	3.86	3.81	3.73	3.98	3.91	3.85	3.74
Profit before tax	7.49	-8.44	0.20	33.80	22.51	-6.26	-10.52	40.07	2.95	-9.14	-11.33	33.11	10.09
Tax %	52.47%	0.00%	0.00%	12.90%	-57.66%	0.00%	-32.98%	5.71%	1,660.68%	0.00%	0.00%	5.68%	77.21%
Net Profit	3.55	-8.45	0.19	29.44	35.49	-6.26	-7.04	37.78	-46.05	-9.14	-11.33	31.24	2.30
EPS in Rs	0.19	-0.45	0.01	1.57	1.89	-0.33	-0.37	2.01	-2.45	-0.49	-0.60	1.66	0.12

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 23, 2024, 3:15 pm

Month	Mar 2010	Mar 2011	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	280	361	276	335	284	222	285	362	425	467	611	546	509
Expenses	290	349	256	305	238	198	259	323	363	374	545	479	452
Operating Profit	-9	12	19	31	46	24	26	38	62	93	66	67	58
OPM %	-3%	3%	7%	9%	16%	11%	9%	11%	15%	20%	11%	12%	11%
Other Income	56	80	9	9	1	10	0	1	0	2	3	2	3
Interest	18	28	18	21	25	21	36	42	36	32	28	30	30
Depreciation	8	11	10	11	12	13	13	15	15	16	16	16	15
Profit before tax	21	54	0	7	10	-1	-24	-17	12	47	26	22	15
Tax %	15%	20%	1,559%	37%	42%	395%	-26%	-52%	32%	-28%	192%	35%
Net Profit	18	43	-3	4	6	-4	-18	-8	8	60	-23	14	5
EPS in Rs	105.59	2.49	-0.19	0.26	0.35	-0.25	-1.02	-0.42	0.44	3.20	-1.25	0.77	0.26
Dividend Payout %	0%	0%	0%	78%	0%	0%	0%	0%	45%	6%	-8%	26%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2010-2011	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	138.89%	233.33%	50.00%	-166.67%	-350.00%	55.56%	200.00%	650.00%	-138.33%	160.87%
Change in YoY Net Profit Growth (%)	0.00%	94.44%	-183.33%	-216.67%	-183.33%	405.56%	144.44%	450.00%	-788.33%	299.20%

Vishwaraj Sugar Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2010-2011 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	%
5 Years:	14%
3 Years:	9%
TTM:	-20%

Compounded Profit Growth
10 Years:	%
5 Years:	24%
3 Years:	21%
TTM:	81%

Stock Price CAGR
10 Years:	%
5 Years:	-3%
3 Years:	-19%
1 Year:	-11%

Return on Equity
10 Years:	%
5 Years:	4%
3 Years:	7%
Last Year:	6%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 6:34 pm

Month	Mar 2010	Mar 2011	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	34	35	35	35	35	35	35	38	38	38	38	38	44
Reserves	67	120	201	201	198	194	177	184	188	245	218	231	236
Borrowings	201	168	159	172	238	315	339	347	376	370	356	366	329
Other Liabilities	94	99	231	203	72	81	169	103	110	117	115	165	86
Total Liabilities	396	422	625	610	543	624	720	672	712	770	726	799	694
Fixed Assets	194	192	246	244	241	272	264	288	282	300	298	287	280
CWIP	0	0	5	1	38	0	11	0	0	0	4	124	157
Investments	0	0	0	0	0	1	1	1	1	1	1	1	1
Other Assets	202	230	374	365	264	352	443	382	429	469	423	387	256
Total Assets	396	422	625	610	543	624	720	672	712	770	726	799	694

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	31	55	62	-55	25	49	56	35	52	146
Cash from Investing Activity +	-50	-6	-45	-6	-18	-27	-9	-33	-18	-125
Cash from Financing Activity +	28	-18	-55	56	-12	-16	-6	-38	-44	-22
Net Cash Flow	9	31	-39	-5	-6	6	41	-36	-11	-1

Free Cash Flow

Month	Mar 2010	Mar 2011	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	-210.00	-156.00	-140.00	-141.00	-192.00	-291.00	-313.00	-309.00	-314.00	-277.00	-290.00	-299.00

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

Month	Mar 2010	Mar 2011	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	20	10	16	19	57	56	49	26	26	25	26	27
Inventory Days		333	448	337	348	689	580	387	339	429	242	257
Days Payable		7	5	6	27	71	202	83	79	110	49	91
Cash Conversion Cycle	20	336	458	351	377	674	428	330	286	344	219	193
Working Capital Days	344	130	195	233	228	435	333	255	232	252	203	172
ROCE %	15%	26%		7%	8%	4%	2%	4%	8%	13%	8%	9%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoters	32.83%	31.92%	33.69%	33.69%	33.70%	33.70%	33.70%	33.70%	33.70%	33.70%	33.70%	33.70%
FIIs	2.66%	2.66%	1.20%	0.46%	0.25%	0.08%	0.01%	0.09%	0.23%	0.00%	0.26%	0.13%
DIIs	0.96%	0.96%	0.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Government	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	63.55%	64.46%	64.71%	65.85%	66.06%	66.23%	66.29%	66.22%	66.07%	66.31%	66.04%	66.18%
No. of Shareholders	17,777	35,506	1,51,453	1,49,929	1,46,856	1,45,703	1,41,577	1,38,830	1,59,310	1,60,032	1,64,836	1,61,044

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	2.00	2.00	10.00	10.00	10.00
Basic EPS (Rs.)	0.78	-1.24	3.21	2.11	-2.19
Diluted EPS (Rs.)	0.78	-1.24	3.21	2.11	-2.19
Cash EPS (Rs.)	1.62	-0.39	20.15	6.13	1.78
Book Value[Excl.RevalReserv]/Share (Rs.)	14.29	13.61	75.24	60.18	59.06
Book Value[Incl.RevalReserv]/Share (Rs.)	14.29	13.61	75.24	60.18	59.06
Dividend / Share (Rs.)	0.20	0.10	1.00	1.00	0.00
Revenue From Operations / Share (Rs.)	29.27	32.83	124.81	113.55	98.61
PBDIT / Share (Rs.)	3.66	3.68	25.29	16.68	10.59
PBIT / Share (Rs.)	2.81	2.83	21.16	12.75	6.71
PBT / Share (Rs.)	1.19	1.36	12.56	3.26	-4.40
Net Profit / Share (Rs.)	0.77	-1.25	16.02	2.21	-2.10
PBDIT Margin (%)	12.49	11.20	20.26	14.68	10.73
PBIT Margin (%)	9.60	8.61	16.95	11.22	6.80
PBT Margin (%)	4.05	4.14	10.06	2.86	-4.46
Net Profit Margin (%)	2.63	-3.80	12.83	1.94	-2.12
Return on Networth / Equity (%)	5.40	-9.17	21.28	3.66	-3.55
Return on Capital Employeed (%)	13.78	14.11	21.17	14.42	7.96
Return On Assets (%)	1.81	-3.22	7.81	1.16	-1.17
Long Term Debt / Equity (X)	0.27	0.32	0.31	0.45	0.41
Total Debt / Equity (X)	1.36	1.39	1.31	1.54	1.50
Asset Turnover Ratio (%)	0.72	0.82	0.63	0.61	0.53
Current Ratio (X)	0.92	1.20	1.14	1.12	1.06
Quick Ratio (X)	0.25	0.32	0.21	0.36	0.24
Inventory Turnover Ratio (X)	1.26	1.18	1.20	1.08	0.79
Dividend Payout Ratio (NP) (%)	25.90	-16.01	6.24	0.00	0.00
Dividend Payout Ratio (CP) (%)	12.35	-50.28	4.96	0.00	0.00
Earning Retention Ratio (%)	74.10	116.01	93.76	0.00	0.00
Cash Earning Retention Ratio (%)	87.65	150.28	95.04	0.00	0.00
Interest Coverage Ratio (X)	2.25	2.51	2.94	1.76	0.95
Interest Coverage Ratio (Post Tax) (X)	1.48	0.14	2.86	1.23	0.81
Enterprise Value (Cr.)	630.79	624.91	433.14	750.98	568.17
EV / Net Operating Revenue (X)	1.15	1.01	0.92	1.76	1.53
EV / EBITDA (X)	9.18	9.05	4.56	11.99	14.29
MarketCap / Net Operating Revenue (X)	0.48	0.44	0.16	1.06	0.65
Retention Ratios (%)	74.09	116.01	93.75	0.00	0.00
Price / BV (X)	0.99	1.06	0.26	1.99	1.10
Price / Net Operating Revenue (X)	0.48	0.44	0.16	1.06	0.65
EarningsYield	0.05	-0.08	0.79	0.01	-0.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Vishwaraj Sugar Industries Ltd as of December 30, 2024 is: 11.13

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.

As of December 30, 2024, Vishwaraj Sugar Industries Ltd is Overvalued by 24.80% compared to the current share price 14.80

Default values used*: Default value of 15 for Stock P/E is used

Intrinsic Value of Vishwaraj Sugar Industries Ltd as of December 30, 2024 is: 10.02

Calculation basis:

Intrinsic 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 intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 30, 2024, Vishwaraj Sugar Industries Ltd is Overvalued by 32.30% compared to the current share price 14.80

Default values used*: Default value of 15 for Stock P/E is used

Last 5 Year EPS CAGR: -9.99%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The company has shown consistent growth in sales (381.77 cr) and profit (13.23 cr) over the years.	The stock has a low average ROCE of 8.67%, which may not be favorable. The stock has a high average Working Capital Days of 251.00, which may not be favorable. The stock has a high average Cash Conversion Cycle of 334.67, which may not be favorable. The company has higher borrowings (287.38) compared to reserves (189.23), which may suggest financial risk.

Stock Analysis

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 Vishwaraj Sugar Industries Ltd:
1. Net Profit Margin: 2.63%
  - 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: 13.78% (Industry Average ROCE: 13%)
  - 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%: 5.4% (Industry Average ROE: 13.21%)
  - 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): 1.48
  - 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: 0.25
  - 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: 0 (Industry average Stock P/E: 31.02)
  - 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: 1.36
  - 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:

About the Company - Qualitative Analysis

Vishwaraj Sugar Industries Ltd. is a Public Limited Listed company incorporated on 02/05/1995 and has its registered office in the State of Karnataka, India. Company’s Corporate Identification Number(CIN) is L85110KA1995PLC017730 and registration number is 017730. Currently Company is involved in the business activities of Manufacture or refining of sugar (sucrose) from sugercane. Company’s Total Operating Revenue is Rs. 468.75 Cr. and Equity Capital is Rs. 37.56 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Sugar	Bellad Bagewadi, Belagavi District Karnataka 591305	info@vsil.co.in http://www.vsil.co.in

Management
Name	Position Held
Mr. Nikhil U Katti	Chairman & Managing Director
Mr. Mukesh Kumar	Whole Time Director
Mr. Kush R Katti	Whole Time Director
Ms. Sneha Nithin Dev	Whole Time Director
Mr. Vishnukumar� Kulkarni	Independent Director
Mr. Basavaraj Hagaragi	Independent Director
Mr. Shivanand Tubachi	Independent Director
Mrs. Pratibha Munnolli	Independent Director

FAQ

What is the latest intrinsic value of Vishwaraj Sugar Industries Ltd?

The latest intrinsic value of Vishwaraj Sugar Industries Ltd as on 30 December 2024 is ₹11.13, which is 24.80% lower than the current market price of ₹14.80. The stock has a market capitalization of 323 Cr. and recorded a high/low of 22.0/14.1 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹236 Cr and total liabilities of ₹694 Cr.

What is the Market Cap of Vishwaraj Sugar Industries Ltd?

The Market Cap of Vishwaraj Sugar Industries Ltd is 323 Cr..

What is the current Stock Price of Vishwaraj Sugar Industries Ltd as on 30 December 2024?

The current stock price of Vishwaraj Sugar Industries Ltd as on 30 December 2024 is 14.8.

What is the High / Low of Vishwaraj Sugar Industries Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of Vishwaraj Sugar Industries Ltd stocks is 22.0/14.1.

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

The Stock P/E of Vishwaraj Sugar Industries Ltd is .

What is the Book Value of Vishwaraj Sugar Industries Ltd?

The Book Value of Vishwaraj Sugar Industries Ltd is 12.8.

What is the Dividend Yield of Vishwaraj Sugar Industries Ltd?

The Dividend Yield of Vishwaraj Sugar Industries Ltd is 1.35 %.

What is the ROCE of Vishwaraj Sugar Industries Ltd?

The ROCE of Vishwaraj Sugar Industries Ltd is 8.60 %.

What is the ROE of Vishwaraj Sugar Industries Ltd?

The ROE of Vishwaraj Sugar Industries Ltd is 5.72 %.

What is the Face Value of Vishwaraj Sugar Industries Ltd?

The Face Value of Vishwaraj Sugar Industries Ltd is 2.00.