Bajaj Hindusthan Sugar (BAJAJHIND) had a P/E of 15.1× on 6 Nov 2026, in line with the industry P/E of 15.1×, and the shares are 29% below their 52-week high. Sales fell 4.4% a year over 3 years; its ROCE of 1.7% is the second-lowest among the 7 largest Confectioners peers. Debt is 0.93× equity. It is a small-cap company with a market cap of ₹4,441 Cr, ranked 3rd of 37 Confectioners companies by market cap; the shares fell 14% over the past year.
- ₹18.89
- ₹19.02
- ₹18.48
- ₹18.90
- 71.3 L
Health check
- ReturnsBehind
−13.9% over a year, better than 2 of 7 peers.
- Price tagIn line
P/E 15.1 vs industry 15.1.
- GrowthShrinking
Sales −4.4% a year over 3 years.
- ProfitabilityWeak
ROCE 1.7% vs peer median 10.3%.
- Balance sheetFair
Debt 0.93× equity, interest covered 7.8×, Piotroski 7 of 9.
- Red flags3 to check
Return on equity is low at 6.4%.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹4,441 Cr
- Small cap
- P/E
- 15.1
- Industry 15.1
- Price to book
- 4.41
- Peers 1.56
- Dividend yield
- 0.00%
- ROE
- 6.4%
- Peers 8.2%
- ROCE
- 1.7%
- Peers 10.3%
- Debt to equity
- 0.93
- Debt ₹3,545 Cr
- EPS (TTM)
- ₹1.23
- Face value ₹1
- OPM (TTM)
- 5.1%
- Net margin 2.2%
- Sales growth
- −9.8%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 0.83
- EV/EBITDA 39.4
Strengths and risks
Strengths
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Return on equity is low at 6.4%.
- Quarterly sales down 9.8% on a year ago.
- Promoter stake down from 24.9% to 13.3%.
About Bajaj Hindusthan Sugar
Bajaj Hindusthan Sugar Limited, together with its subsidiaries, manufactures and sells sugar products from sugarcane in India. It operates through Sugar, Distillery, and Power segments. The company also provides sugar by-products, such as molasses, bagasse, fly ash, and press mud; bio-compost/bio-manure; and industrial alcohol and ethanol products. In addition, the company generates and sells power to the Uttar Pradesh state grid. It serves oil companies,…
- Headquarters
- Mumbai
- Employees
- 2,829
- Sector
- Consumer Defensive
- ISIN
- INE306A01021
- Website
- bajajhindusthan.com
Price range
- Avg volume (3M)
- 3.3 Cr
- 1-year return
- minus 13.9%
- From 52-week high
- minus 28.5%
Peers · Confectioners
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BALRAMCHINBalrampur Chini Mills | 670.30 | minus 1.21% | 14,186 | 32.9 | 2.98 | 11.8% | 9.7% | 11.7% | 10.4% | 10.0% | 0.60% | plus 50.8% |
| TRIVENITriveni Engineering & Industries | 240.01 | minus 1.29% | 5,289 | 15.1 | 1.58 | 12.1% | 8.3% | 8.5% | 4.0% | −46.9% | 1.15% | minus 32.1% |
| BAJAJHINDBajaj Hindusthan Sugar | 18.59 | minus 1.64% | 4,441 | 15.1 | 4.41 | 1.7% | 6.4% | 5.1% | −4.4% | – | 0.00% | minus 13.9% |
| BANARISUGBannari Amman Sugars | 3,195.70 | minus 7.23% | 4,007 | 32.9 | 2.09 | 8.7% | 8.0% | 9.3% | −8.8% | 1.0% | 0.39% | minus 4.3% |
| RENUKAShree Renuka Sugars | 18.19 | minus 2.31% | 3,872 | – | −1.23 | −27.3% | – | −0.5% | 0.6% | – | 0.00% | minus 36.3% |
| DALMIASUGDalmia Bharat Sugar and Industries | 477.50 | plus 0.16% | 3,865 | 19.0 | 1.20 | 9.6% | 7.3% | 10.8% | 3.7% | −1.8% | 1.26% | plus 40.9% |
| AVADHSUGARAvadh Sugar & Energy | 824.35 | minus 6.17% | 1,650 | 25.0 | 1.47 | 10.3% | 5.1% | 8.3% | −1.2% | −17.0% | 1.14% | plus 107.3% |
| UTTAMSUGARUttam Sugar Mills | 359.60 | plus 0.49% | 1,371 | 15.2 | 1.56 | 17.3% | 12.0% | 9.4% | 2.2% | −6.7% | 0.70% | plus 46.2% |
| Median of 7 peers | – | −1.29% | 3,872 | 22.0 | 1.56 | 10.3% | 8.2% | 9.3% | 2.2% | −4.3% | 0.70% | 40.9% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 1,248 | 1,157 | 1,380 | 1,669 | 1,126 | |
| 1,275 | 1,211 | 1,307 | 1,295 | 1,246 | |
| −26.9 | −53.9 | 73 | 373 | −120 | |
| −2.2% | −4.7% | 5.3% | 22.4% | −10.6% | |
| 3.4 | 5.1 | 2.7 | 11 | 2.3 | |
| 5.5 | 2.5 | 6.9 | 18.1 | 11.4 | |
| 53.6 | 54.2 | 54.3 | 53.4 | 56.1 | |
| – | – | – | −13.9 | – | |
| −82.6 | −106 | 14.5 | 299 | −185 | |
| −110.6% | 0.3% | −1.2% | −30.7% | 0.1% | |
| −174 | −105 | 14.8 | 391 | −185 | |
| -1.40 | -0.83 | 0.12 | 2.17 | -0.23 |
Profit & loss
- Sales CAGR 3Y
- −4.4%
- ROE
- 6.4%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 6,175 | 6,043 | 5,515 | 5,398 | |
| – | minus 2.1% | minus 8.8% | minus 2.1% | |
| 5,911 | 5,713 | 5,224 | 5,029 | |
| 264 | 331 | 291 | 369 | |
| 4.3% | 5.5% | 5.3% | 6.8% | |
| 19.9 | 40.1 | 18.6 | 6.4 | |
| 209 | 161 | 858 | 18.5 | |
| 213 | 222 | 216 | 216 | |
| 0.2 | −82.3 | −1.8 | −15.8 | |
| −138 | −95.1 | −766 | 125 | |
| 2.5% | 8.6% | −0.6% | −0.7% | |
| −135 | −86.4 | −23.6 | 127 | |
| -1.08 | -0.69 | -6.26 | 0.86 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 124 | 124 | 124 | 237 | |
| 4,300 | 1,036 | 26.8 | 3,574 | |
| 4,292 | 3,840 | 3,561 | 3,543 | |
| 7,223 | 10,906 | 11,572 | 6,950 | |
| 15,939 | 15,906 | 15,284 | 14,304 | |
| 7,806 | 7,590 | 7,342 | 7,180 | |
| 5.3 | 8.1 | 16.6 | 43.5 | |
| 4,480 | 4,607 | 4,269 | 3,569 | |
| 23.4 | 52.2 | 73.6 | 87.9 | |
| 3,625 | 3,649 | 3,583 | 3,424 | |
| 15,939 | 15,906 | 15,284 | 14,304 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 792 | 646 | 280 | 230 | |
| 12.3 | −2.8 | 19.5 | 562 | |
| −833 | −615 | −281 | −776 | |
| −28.6 | 28.8 | 19.2 | 16 | |
| −6.3 | −8.5 | −20.6 | −116 | |
| 786 | 638 | 260 | 113 |
Shareholding pattern
- Promoters13.33%
- Public86.59%
- Employee trusts0.07%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 13.33% | 86.59% | 0.00 | |
| 30 Jun 2026 | 13.33% | 86.59% | minus 0.10 | |
| 31 Mar 2026 | 13.43% | 86.50% | minus 0.21 | |
| 27 Mar 2026 | 13.64% | 86.28% | minus 11.31 | |
| 31 Dec 2025 | 24.95% | 74.91% | – |
Major shareholders
Filings & events
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