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Last Updated: April 2, 2026, 3:55 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 542852 | NSE: VISHWARAJ

Vishwaraj Sugar Industries Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹18.34Undervalued by 303.08%vs CMP ₹4.55

P/E (15.0) × ROE (13.5%) × BV (₹11.10) × DY (2.00%)

Defaults: P/E=15

₹15.77Undervalued by 246.59%vs CMP ₹4.55
MoS: +71.1% (Strong)Confidence: 58/100 (Moderate)Models: All 5: Undervalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹12.8934%Under (+183.3%)
Net Asset ValueAssets₹11.4820%Under (+152.3%)
Dividend DiscountDividends₹10.2017%Under (+124.2%)
ROCE CapitalReturns₹30.7314%Under (+575.4%)
Revenue MultipleRevenue₹20.7515%Under (+356%)
Consensus (5 models)₹15.77100%Undervalued
Key Drivers: EPS CAGR -29.7% drags value — could be higher if earnings stabilize.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -29.7% · Defaults: P/E=15

*Investments are subject to market risks

Investment Snapshot

42
Vishwaraj Sugar Industries Ltd scores 42/100 (Weak)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health38/100 · Weak
ROCE 0.5% WeakROE 13.5% GoodD/E 1.54 High debtInterest Coverage 0.0x RiskyProfitable 3/5 years Mixed
Smart Money40/100 · Moderate
FII holding stable No changeDII holding down 2.04% MF sellingPromoter holding at 29.1% Stable
Earnings Quality50/100 · Moderate
OPM contracting (16% → 8%) DecliningWorking capital: -32 days (improving) Efficient
Quarterly Momentum40/100 · Moderate
Revenue (4Q): -4% YoY FlatOPM: -0.7% (down 19.2% YoY) Margin pressure
Industry Rank40/100 · Moderate
ROCE 0.5% vs industry 8.6% Below peersROE 13.5% vs industry 7.9% Above peers3Y sales CAGR: -1% Shrinking

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.

Vishwaraj Sugar Industries Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
20/100
Low
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 0.0 vs Ind 20.7 | ROCE 0.5% | ROE 13.5% | CFO/NP N/A
Balance Sheet Stress
50/100
Manageable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 1.54x | IntCov 0.0x | Current 1.12x | Borrow/Reserve 1.49x
Cash Flow Reliability
86/100
Strong
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹-37 Cr | CFO/NP N/A
Ownership Accumulation
0
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII +0.03 pp | DII -0.01 pp | Prom 0.00 pp
Business Momentum
+86
Stable
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales +41.1% | Q NP +53.3% | Q OPM +11.3 pp
Derived FieldValueHow it is derived
Valuation Gap %+246.6%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves1.49xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change+0.03 ppLatest FII% minus previous FII%
DII Change-0.01 ppLatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change-3,526Latest shareholder count minus previous count
Quarterly Sales Change+41.1%Latest quarter sales vs previous quarter sales
Quarterly Profit Change+53.3%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change+11.3 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:55 am

Market Cap 99.1 Cr.
Current Price 4.55
Intrinsic Value₹15.77
High / Low 11.9/4.10
Stock P/E
Book Value 11.1
Dividend Yield0.00 %
ROCE0.49 %
ROE13.5 %
Face Value 2.00
PEG Ratio0.00

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

View Share Price Target for Vishwaraj Sugar Industries Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Gayatri Sugars Ltd 60.0 Cr. 8.07 16.7/7.01 16.80.00 %36.6 %% 10.0
Dhampure Speciality Sugars Ltd 96.4 Cr. 110 128/82.018.4 45.30.00 %11.6 %8.88 % 10.0
Dhampur Bio Organics Ltd 754 Cr. 114 127/65.031.8 1451.10 %3.97 %1.56 % 10.0
DCM Shriram Industries Ltd 474 Cr. 36.3 63.1/31.97.77 1055.51 %13.7 %11.8 % 2.00
Davangere Sugar Company Ltd 539 Cr. 3.77 7.90/3.0363.5 3.520.00 %6.70 %3.17 % 1.00
Industry Average2,024.68 Cr265.4020.73225.550.76%8.62%7.89%6.37

All Competitor Stocks of Vishwaraj Sugar Industries Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 101.61199.07141.71138.05106.24163.71101.2592.7893.20166.68133.0655.0477.68
Expenses 52.03186.74140.02139.4262.86141.20108.18103.9075.95154.20140.5961.6878.24
Operating Profit 49.5812.331.69-1.3743.3822.51-6.93-11.1217.2512.48-7.53-6.64-0.56
OPM % 48.79%6.19%1.19%-0.99%40.83%13.75%-6.84%-11.99%18.51%7.49%-5.66%-12.06%-0.72%
Other Income 1.020.780.640.620.600.640.980.590.625.441.870.831.78
Interest 6.726.437.496.677.029.327.367.3113.436.166.674.614.08
Depreciation 3.813.733.983.913.853.743.983.903.823.744.063.953.86
Profit before tax 40.072.95-9.14-11.3333.1110.09-17.29-21.740.628.02-16.39-14.37-6.72
Tax % 5.71%1,660.68%0.00%0.00%5.68%77.21%0.00%0.00%0.00%74.31%0.00%0.00%0.00%
Net Profit 37.78-46.05-9.14-11.3331.242.30-17.29-21.740.632.06-16.39-14.37-6.71
EPS in Rs 2.01-2.45-0.49-0.601.660.12-0.92-1.000.030.09-0.75-0.66-0.31

Last Updated: March 3, 2026, 1:50 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 10:16 am

MetricMar 2011Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 361276335284222285362425467611546452432
Expenses 349256305238198259323363374545479440435
Operating Profit 121931462426386293666712-2
OPM % 3%7%9%16%11%9%11%15%20%11%12%3%-1%
Other Income 8099110010232810
Interest 28182125213642363228303422
Depreciation 11101112131315151616161616
Profit before tax 540710-1-24-1712472622-31-29
Tax % 20%1,559%37%42%395%-26%-52%32%-28%192%35%19%
Net Profit 43-346-4-18-8860-2314-37-35
EPS in Rs 2.49-0.190.260.35-0.25-1.02-0.420.443.20-1.250.77-1.70-1.63
Dividend Payout % 0%0%78%0%0%0%0%45%6%-8%26%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)233.33%50.00%-166.67%-350.00%55.56%200.00%650.00%-138.33%160.87%-364.29%
Change in YoY Net Profit Growth (%)0.00%-183.33%-216.67%-183.33%405.56%144.44%450.00%-788.33%299.20%-525.16%

Vishwaraj Sugar Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2015-2016 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:5%
5 Years:5%
3 Years:-1%
TTM:-5%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-820%
Stock Price CAGR
10 Years:%
5 Years:-12%
3 Years:-20%
1 Year:-48%
Return on Equity
10 Years:0%
5 Years:2%
3 Years:-6%
Last Year:-13%

Last Updated: September 5, 2025, 1:51 pm

Balance Sheet

Last Updated: March 3, 2026, 12:19 am

MonthMar 2011Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 35353535353538383838384444
Reserves 120201201198194177184188245218231237206
Borrowings 168159172238315339347376370356366391307
Other Liabilities 99231203728116910311011711516514882
Total Liabilities 422625610543624720672712770726799819639
Fixed Assets 192246244241272264288282300298287276270
CWIP -05138-011-0-0-04124201226
Investments 0000111111113
Other Assets 230374365264352443382429469423387340140
Total Assets 422625610543624720672712770726799819639

Reserves and Borrowings Chart

Cash Flow

MonthMar 2011Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 315562-55254956355214650
Cash from Investing Activity + -50-6-45-6-18-27-9-33-18-125-83
Cash from Financing Activity + 28-18-5556-12-16-6-38-44-2241
Net Cash Flow 931-39-5-6641-36-11-18
Free Cash Flow -184916-617224723421-32
CFO/OP 162%179%137%-222%99%128%93%39%79%227%431%

Free Cash Flow

MonthMar 2011Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-156.00-140.00-141.00-192.00-291.00-313.00-309.00-314.00-277.00-290.00-299.00-379.00

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 2011Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 101619575649262625262724
Inventory Days 333448337348689580387339429242257241
Days Payable 75627712028379110499147
Cash Conversion Cycle 336458351377674428330286344219193217
Working Capital Days 130195-13-51-1713-43339-23-32
ROCE %26%7%8%4%2%4%8%13%8%9%0%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 33.70%33.70%33.70%33.70%33.70%33.70%29.05%29.05%29.04%29.05%29.05%29.05%
FIIs 0.01%0.09%0.23%0.00%0.26%0.13%3.30%1.38%0.40%0.09%0.00%0.03%
DIIs 0.00%0.00%0.00%0.00%0.00%0.00%6.37%5.50%5.79%5.74%3.76%3.75%
Public 66.29%66.22%66.07%66.31%66.04%66.18%61.28%64.07%64.77%65.13%67.19%67.18%
No. of Shareholders 1,41,5771,38,8301,59,3101,60,0321,64,8361,61,0441,56,8581,58,1031,57,1121,55,2321,52,5291,49,003

Shareholding Pattern Chart

No. of Shareholders

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

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.0010.0010.00
Basic EPS (Rs.) -1.740.78-1.243.212.11
Diluted EPS (Rs.) -1.740.78-1.243.212.11
Cash EPS (Rs.) -0.951.62-0.3920.156.13
Book Value[Excl.RevalReserv]/Share (Rs.) 12.8814.2913.6175.2460.18
Book Value[Incl.RevalReserv]/Share (Rs.) 12.8814.2913.6175.2460.18
Dividend / Share (Rs.) 0.000.200.101.001.00
Revenue From Operations / Share (Rs.) 20.8429.2732.83124.81113.55
PBDIT / Share (Rs.) 0.883.663.6825.2916.68
PBIT / Share (Rs.) 0.142.812.8321.1612.75
PBT / Share (Rs.) -1.431.191.3612.563.26
Net Profit / Share (Rs.) -1.700.77-1.2516.022.21
PBDIT Margin (%) 4.2512.4911.2020.2614.68
PBIT Margin (%) 0.709.608.6116.9511.22
PBT Margin (%) -6.844.054.1410.062.86
Net Profit Margin (%) -8.152.63-3.8012.831.94
Return on Networth / Equity (%) -13.205.40-9.1721.283.66
Return on Capital Employeed (%) 0.7013.7814.1121.1714.42
Return On Assets (%) -4.521.81-3.227.811.16
Long Term Debt / Equity (X) 0.440.270.320.310.45
Total Debt / Equity (X) 1.391.361.391.311.54
Asset Turnover Ratio (%) 0.560.720.820.630.61
Current Ratio (X) 0.910.921.201.141.12
Quick Ratio (X) 0.270.250.320.210.36
Inventory Turnover Ratio (X) 1.771.261.181.201.08
Dividend Payout Ratio (NP) (%) 0.0025.90-16.016.240.00
Dividend Payout Ratio (CP) (%) 0.0012.35-50.284.960.00
Earning Retention Ratio (%) 0.0074.10116.0193.760.00
Cash Earning Retention Ratio (%) 0.0087.65150.2895.040.00
Interest Coverage Ratio (X) 0.562.252.512.941.76
Interest Coverage Ratio (Post Tax) (X) -0.081.480.142.861.23
Enterprise Value (Cr.) 552.47630.79624.91433.14750.98
EV / Net Operating Revenue (X) 1.221.151.010.921.76
EV / EBITDA (X) 28.609.189.054.5611.99
MarketCap / Net Operating Revenue (X) 0.370.480.440.161.06
Retention Ratios (%) 0.0074.09116.0193.750.00
Price / BV (X) 0.610.991.060.261.99
Price / Net Operating Revenue (X) 0.370.480.440.161.06
EarningsYield -0.210.05-0.080.790.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

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. 453.92 Cr. and Equity Capital is Rs. 43.57 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
SugarBellad Bagewadi, Taluka Hukkeri, Belagavi District Karnataka 591305Contact not found
Management
NamePosition Held
Mr. Nikhil U KattiChairman & Managing Director
Mr. Kush R KattiWhole Time Director
Ms. Sneha Nithin DevWhole Time Director
Mr. Vishnukumar� KulkarniIndependent Director
Mr. Basavaraj HagaragiIndependent Director
Mr. Shivanand TubachiIndependent Director
Mrs. Pratibha MunnolliIndependent Director
Mr. Mallikarjun PujarWhole Time Director

FAQ

What is the intrinsic value of Vishwaraj Sugar Industries Ltd and is it undervalued?

As of 05 April 2026, Vishwaraj Sugar Industries Ltd's intrinsic value is ₹15.77, which is 246.59% higher than the current market price of ₹4.55, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (13.5 %), book value (₹11.1), dividend yield (0.00 %), and 5-year EPS CAGR.

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

Vishwaraj Sugar Industries Ltd is trading at ₹4.55 as of 05 April 2026, with a FY2026-2027 high of ₹11.9 and low of ₹4.10. The stock is currently near its 52-week low. Market cap stands at ₹99.1 Cr..

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

Vishwaraj Sugar Industries Ltd has a P/E ratio of , which is below the industry average of 20.73. This is broadly in line with or below the industry average.

Is Vishwaraj Sugar Industries Ltd financially healthy?

Key indicators for Vishwaraj Sugar Industries Ltd: ROCE of 0.49 % is on the lower side compared to the industry average of 8.62%. Dividend yield is 0.00 %.

Is Vishwaraj Sugar Industries Ltd profitable and how is the profit trend?

Vishwaraj Sugar Industries Ltd reported a net profit of ₹-37 Cr in Mar 2025 on revenue of ₹452 Cr. Compared to ₹60 Cr in Mar 2022, the net profit shows a declining trend.

Does Vishwaraj Sugar Industries Ltd pay dividends?

Vishwaraj Sugar Industries Ltd has a dividend yield of 0.00 % at the current price of ₹4.55. The company is currently not paying meaningful dividends.

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 Vishwaraj 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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