Davangere Sugar Company (DAVANGERE) had a P/E of 9.5× on 6 Nov 2026, below the industry P/E of 15.1×, and the shares are 64% below their 52-week high. Sales and net profit fell 5.0% and 14% a year over 3 years, with ROCE of 6.2% and ROE of 2.0%. Debt is 0.60× equity. It is a small-cap company with a market cap of ₹285 Cr, ranked 20th of 37 Confectioners companies by market cap; the shares fell 46% over the past year.
- ₹2.02
- ₹2.03
- ₹1.97
- ₹2.02
- 40.2 L
Health check
- ReturnsBehind
−46.0% over a year, better than 0 of 7 peers.
- Price tagCheaper
P/E 9.5 vs industry 15.1.
- GrowthShrinking
Sales −5.0%, profit −13.7% a year over 3 years.
- ProfitabilityWeak
ROCE 6.2% vs peer median 9.6%.
- Balance sheetStretched
Debt 0.60× equity, interest covered 1.4×, Piotroski 4 of 9.
- Red flags4 to check
Return on equity is low at 2.0%.
Small cap
Defensive
Key metrics
- Market cap
- ₹285 Cr
- Small cap
- P/E
- 9.5
- Industry 15.1
- Price to book
- 0.77
- Peers 1.58
- Dividend yield
- 0.00%
- ROE
- 2.0%
- Peers 7.7%
- ROCE
- 6.2%
- Peers 9.6%
- Debt to equity
- 0.60
- Debt ₹304 Cr
- EPS (TTM)
- ₹0.21
- Face value ₹1
- OPM (TTM)
- 19.4%
- Net margin 3.3%
- Sales growth
- +44.2%
- Latest quarter vs a year ago
- Profit growth
- −28.0%
- Latest quarter vs a year ago
- Price to sales
- 1.14
- EV/EBITDA 11.7
Strengths and risks
Strengths
- Quarterly sales up 44.2% on a year ago.
- P/E of 9.5 against an industry P/E of 15.1.
Risks to check
- Return on equity is low at 2.0%.
- Quarterly profit down 28.0% on a year ago.
- 64% below its 52-week high.
- Interest coverage of only 1.9×.
About Davangere Sugar Company
Davangere Sugar Company Limited manufactures and sells sugar and molasses primarily in India. The company operates through four segments: Sugar, Co-Generation, Aviation, and Distillery. It engages in the co-generation of electricity related activities with a capacity of 24.45 megawatts. The company is also involved in the production of ethanol products, as well as aviation related business that consists of a fleet of helicopters. Davangere Sugar Company…
- Headquarters
- Bengaluru
- Employees
- 382
- Sector
- Consumer Defensive
- ISIN
- INE179G01029
- Website
- davangeresugar.com
Price range
- Avg volume (3M)
- 1.6 Cr
- 1-year return
- minus 46.0%
- From 52-week high
- minus 63.8%
Peers · Confectioners
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BALRAMCHINBalrampur Chini Mills | 670.30 | minus 1.21% | 14,186 | 32.9 | 2.98 | 11.8% | 9.7% | 11.3% | 10.4% | 10.0% | 0.59% | 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% | 1.13% | 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% | 0.36% | 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% |
| DAVANGEREDavangere Sugar Company | 1.99 | minus 1.49% | 285 | 9.5 | 0.77 | 6.2% | 2.0% | 19.4% | −5.0% | −13.7% | 0.00% | minus 46.0% |
| Median of 7 peers | – | −1.64% | 4,007 | 22.0 | 1.58 | 9.6% | 7.7% | 8.5% | 0.6% | −1.8% | 0.59% | −4.3% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 24.1 | 48.2 | 82.7 | 83.8 | 34.7 | |
| 12.7 | 32.8 | 69.3 | 75.4 | 23.6 | |
| 11.4 | 15.4 | 13.4 | 8.4 | 11.2 | |
| 47.3% | 31.9% | 16.2% | 10.1% | 32.1% | |
| 0.5 | 0.6 | 0.6 | 0.7 | 0.5 | |
| 7 | 9.4 | 6.3 | 4.5 | 7.2 | |
| 3.2 | 3.2 | 3.2 | 3.2 | 3.2 | |
| 1.7 | 3.3 | 4.5 | 1.4 | 1.3 | |
| 24.4% | 21.1% | 42.0% | −38.5% | 26.7% | |
| 1.3 | 2.6 | 2.6 | 1.9 | 0.9 | |
| 0.01 | 0.18 | 0.01 | 0.01 | 0.01 |
Profit & loss
- Sales CAGR 3Y
- −5.0%
- Profit CAGR 3Y
- −13.7%
- EPS CAGR 3Y
- −25.2%
- ROE
- 2.0%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 274 | 211 | 204 | 235 | |
| – | minus 23.2% | minus 3.0% | +15.1% | |
| 219 | 160 | 151 | 185 | |
| 55.8 | 50.9 | 53.3 | 50.2 | |
| 20.3% | 24.2% | 26.1% | 21.3% | |
| −0.7 | −1.2 | −1.2 | −0.5 | |
| 26 | 23.9 | 26.7 | 26 | |
| 11.6 | 12 | 12.7 | 12.7 | |
| 0.2 | 0.6 | 0.2 | 0.1 | |
| 17.7 | 14.5 | 12.9 | 11 | |
| 25.3% | 15.3% | 14.9% | 22.6% | |
| 13.2 | 12.2 | 10.9 | 8.5 | |
| – | minus 7.4% | minus 10.6% | minus 22.2% | |
| 0.14 | 0.13 | 0.12 | 0.06 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 94.1 | 94.1 | 94.1 | 143 | |
| 218 | 246 | 256 | 362 | |
| 259 | 311 | 357 | 304 | |
| 25.8 | 30.6 | 36.2 | 30.5 | |
| 597 | 682 | 743 | 839 | |
| 350 | 359 | 349 | 337 | |
| – | – | 20.9 | 21 | |
| 4.1 | 4.6 | 4.6 | 5.4 | |
| 3.3 | 3.4 | 3.4 | 6.6 | |
| 240 | 315 | 364 | 470 | |
| 597 | 682 | 743 | 839 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 80.7 | −23.9 | −4.6 | −47.1 | |
| −20.1 | −22.9 | −3.2 | −1 | |
| −65.2 | 19.2 | 7.7 | 51.3 | |
| −4.7 | −27.7 | −0 | 3.2 | |
| −20.1 | −22.4 | −3.1 | −0.2 | |
| 60.6 | −46.3 | −7.7 | −47.3 |
Shareholding pattern
- Promoters41.63%
- Public58.37%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 41.63% | 58.37% | plus 6.53 | |
| 25 Aug 2026 | 35.10% | 64.90% | minus 6.53 | |
| 30 Jun 2026 | 41.63% | 58.37% | minus 0.15 | |
| 31 Mar 2026 | 41.78% | 58.22% | 0.00 | |
| 31 Dec 2025 | 41.78% | 58.22% | – |
Major shareholders
Filings & events
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