Dalmia Bharat Sugar and Industries (DALMIASUG) had a P/E of 19.0× on 6 Nov 2026, above the industry P/E of 15.1×. Sales grew 3.7% a year over 3 years while net profit fell 1.8%, with ROCE of 9.6% and ROE of 7.6%. Debt is 0.17× equity, and its dividend yield is 1.3%. It is a small-cap company with a market cap of ₹3,865 Cr, ranked 6th of 37 Confectioners companies by market cap; the shares rose 41% over the past year.
- ₹473.05
- ₹483.60
- ₹463.15
- ₹476.75
- 2.3 L
Health check
- ReturnsIn line
+40.9% over a year, better than 4 of 7 peers.
- Price tagPricier
P/E 19.0 vs industry 15.1.
- GrowthSteady
Sales +3.7%, profit −1.8% a year over 3 years.
- ProfitabilityWeak
ROCE 9.6% vs peer median 10.3%.
- Balance sheetFair
Debt 0.17× equity, interest covered 6.0×, Piotroski 4 of 9.
- Red flags3 to check
Return on equity is low at 7.6%.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹3,865 Cr
- Small cap
- P/E
- 19.0
- Industry 15.1
- Price to book
- 1.20
- Peers 1.58
- Dividend yield
- 1.26%
- ROE
- 7.6%
- Peers 8.2%
- ROCE
- 9.6%
- Peers 10.3%
- Debt to equity
- 0.17
- Debt ₹567 Cr
- EPS (TTM)
- ₹25.11
- Face value ₹2
- OPM (TTM)
- 10.8%
- Net margin 6.9%
- Sales growth
- −9.9%
- Latest quarter vs a year ago
- Profit growth
- −80.3%
- Latest quarter vs a year ago
- Price to sales
- 1.07
- EV/EBITDA 8.3
Strengths and risks
Risks to check
- Return on equity is low at 7.6%.
- Quarterly profit down 80.3% on a year ago.
- Quarterly sales down 9.9% on a year ago.
About Dalmia Bharat Sugar and Industries
Dalmia Bharat Sugar and Industries Limited engages in the sugar business in India and internationally. It operates through Sugar, Distillery, and Others segments. The company offers refined sugar and double sulphitation sugars; alcohol-based hand sanitizers; and sulphur free white crystal sugar and natural brown sugar under the Dalmia Utsav brand name. It also provides alcohol, including rectified spirits, extra neutral alcohol/hydrous alcohol, denatured…
- Headquarters
- New Delhi
- Employees
- 2,232
- Sector
- Consumer Defensive
- ISIN
- INE495A01022
- Website
- dalmiasugar.com
Price range
- Avg volume (3M)
- 5.7 L
- 1-year return
- plus 40.9%
- From 52-week high
- minus 8.2%
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 | – | −1.64% | 4,007 | 20.1 | 1.58 | 10.3% | 8.2% | 8.5% | 0.6% | −6.7% | 0.60% | −4.3% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 941 | 989 | 698 | 991 | 848 | |
| 851 | 932 | 588 | 821 | 805 | |
| 89.7 | 56.2 | 109 | 170 | 43.3 | |
| 9.5% | 5.7% | 15.7% | 17.2% | 5.1% | |
| 10.9 | 19.7 | 28.7 | 34.3 | 27.5 | |
| 16 | 10.2 | 12.2 | 25 | 26.6 | |
| 32 | 34.5 | 33 | 36.9 | 34.4 | |
| 52.7 | 31.3 | 93 | 143 | 9.8 | |
| 25.4% | 25.4% | 25.2% | 27.4% | 29.7% | |
| 39.3 | 23.3 | 69.6 | 104 | 7.7 | |
| 4.85 | 2.88 | 8.59 | 12.79 | 0.85 |
Profit & loss
- Sales CAGR 3Y
- +3.7%
- Profit CAGR 3Y
- −1.8%
- EPS CAGR 3Y
- −2.0%
- ROE
- 7.6%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 3,245 | 2,899 | 3,725 | 3,618 | |
| – | minus 10.7% | +28.5% | minus 2.9% | |
| 2,753 | 2,436 | 3,247 | 3,193 | |
| 493 | 462 | 477 | 425 | |
| 15.2% | 15.9% | 12.8% | 11.8% | |
| 12.5 | 33.5 | 61.2 | 93.8 | |
| 35.8 | 48.7 | 63 | 63.4 | |
| 121 | 127 | 131 | 136 | |
| 5 | 43.4 | – | – | |
| 353 | 363 | 345 | 320 | |
| 29.7% | 25.0% | −5.9% | 26.2% | |
| 250 | 272 | 366 | 237 | |
| – | +9.0% | +34.1% | minus 35.2% | |
| 30.90 | 33.66 | 45.15 | 29.12 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 16.2 | 16.2 | 16.2 | 16.2 | |
| 2,689 | 2,916 | 3,218 | 3,226 | |
| 454 | 1,430 | 1,044 | 1,803 | |
| 644 | 800 | 585 | 475 | |
| 3,803 | 5,162 | 4,863 | 5,521 | |
| 1,688 | 1,978 | 1,985 | 1,797 | |
| 36.4 | 150 | 201 | 46.5 | |
| 636 | 629 | 583 | 1,243 | |
| 168 | 528 | 355 | 513 | |
| 1,274 | 1,876 | 1,741 | 1,922 | |
| 3,803 | 5,162 | 4,863 | 5,521 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 583 | −239 | 410 | 219 | |
| −192 | −257 | −113 | −851 | |
| −419 | 902 | −480 | 664 | |
| −28.8 | 405 | −182 | 32.3 | |
| −218 | −385 | −143 | −124 | |
| 365 | −624 | 267 | 95.1 | |
| −32.4 | −38.5 | −46.5 | −48.6 |
Shareholding pattern
- Promoters74.91%
- Public25.09%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 74.91% | 25.09% | 0.00 | |
| 30 Jun 2026 | 74.91% | 25.09% | 0.00 | |
| 31 Mar 2026 | 74.91% | 25.09% | 0.00 | |
| 31 Dec 2025 | 74.91% | 25.09% | 0.00 | |
| 30 Sep 2025 | 74.91% | 25.09% | – |
Major shareholders
Filings & events
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