DWARKESH share price, P/E, ROE & financials

On 6 Nov 2026, Dwarikesh Sugar Industries was priced at ₹42.61, or 23.3× trailing earnings, against an industry P/E of 15.1×, and the shares are 29% below their 52-week high. Sales and net profit fell 13% and 33% a year over 3 years, with ROCE of 5.8% and ROE of 4.4%. Debt is 0.15× equity, and its dividend yield is 0.2%. It is a small-cap company with a market cap of ₹790 Cr, ranked 10th of 37 Confectioners companies by market cap; the shares rose 2.8% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year

Open: ₹43.42
Day high: ₹43.42
Day low: ₹42.16
Prev. close: ₹43.43
Volume: 7 L

Health check

2 fair · 4 to check

ReturnsIn line
+2.8% over a year, better than 4 of 7 peers.
Price tagPricier
P/E 23.3 vs industry 15.1.
GrowthShrinking
Sales −12.8%, profit −33.5% a year over 3 years.
ProfitabilityWeak
ROCE 5.8% vs peer median 9.6%.
Balance sheetFair
Debt 0.15× equity, interest covered 4.1×, Piotroski 8 of 9.
Red flags2 to check
Return on equity is low at 4.4%.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Confectioners

36 listed peers. Screen the industry

Small cap

₹790 Cr, #10 of 37 in its industry by size.

Market sensitivity

Measuring against the NIFTY 50…

Key metrics

Last 12 months to Sep 2026: sales ₹1,370 Cr · profit ₹34 Cr

Market cap: ₹790 Cr; Small cap
P/E: 23.3; Industry 15.1
Price to book: 1.00; Peers 1.58
Dividend yield: 0.23%
ROE: 4.4%; Peers 7.7%
ROCE: 5.8%; Peers 9.6%
Debt to equity: 0.15; Debt ₹117 Cr
EPS (TTM): ₹1.83; Face value ₹1
OPM (TTM): 6.1%; Net margin 2.5%
Sales growth: +4.3%; Latest quarter vs a year ago
Profit growth: n/a; Year-ago quarter not reported
Price to sales: 0.58; EV/EBITDA 6.3

Strengths

Positive operating cash flow in each of the last 4 years.

Risks to check

Return on equity is low at 4.4%.
P/E of 23.3 against an industry P/E of 15.1.

Derived automatically from reported figures. Not a recommendation.

About Dwarikesh Sugar Industries

Dwarikesh Sugar Industries Limited engages in the manufacture and sale of sugar in India. It is also involved in the co-generation and sale of power; manufacture of industrial alcohol, molasses, and ethanol; and production of hand sanitizers and liquid carbon dioxide. The company was formerly known as Dwarka Sugar Limited and changed its name to Dwarikesh Sugar Industries Limited in April 1994. Dwarikesh Sugar Industries Limited was incorporated in 1993…

Headquarters: Mumbai
Employees: 1,455
Sector: Consumer Defensive
ISIN: INE366A01041
Website: dwarikesh.com

Price range

52 weeks

₹32.13₹59.90

Today

₹42.16₹43.42

Avg volume (3M): 40.9 L
1-year return: plus 2.8%
From 52-week high: minus 28.9%

Peers · Confectioners

Compare with peers Screen the whole industry

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%
DWARKESHDwarikesh Sugar Industries	42.61	minus 1.89%	790	23.3	1.00	5.8%	4.4%	4.2%	−12.8%	−33.5%	0.23%	plus 2.8%
Median of 7 peers	–	−1.64%	4,007	22.0	1.58	9.6%	7.7%	8.5%	0.6%	−1.8%	0.60%	−4.3%

Quarterly results

Consolidated, ₹ crore

SalesSelect a row below to chart it

Sep 25	Dec 25	Mar 26	Jun 26	Sep 26
246	325	425	358	257
287	287	339	384	271
−41.3	37.6	86.6	−25.7	−14.6
−16.8%	11.6%	20.3%	−7.2%	−5.7%
2.3	3	1.3	1.9	5.5
1.8	1.4	6.2	3	1
12.2	12.5	−0	7.6	7.4
−52.9	26.8	81.7	−34.4	−17.5
38.4%	42.4%	29.7%	25.1%	25.1%
−32.6	15.4	57.4	−25.7	−13.1
-1.76	0.83	3.10	-1.39	-0.71

Profit & loss

Yearly, ₹ crore

Sales CAGR 3Y: −12.8%
Profit CAGR 3Y: −33.5%
EPS CAGR 3Y: −33.2%
ROE: 4.4%

Net profitSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
2,091	1,709	1,353	1,388
–	minus 18.3%	minus 20.8%	+2.6%
1,878	1,504	1,240	1,302
213	205	113	86.6
10.2%	12.0%	8.4%	6.2%
12.2	10.9	5.4	6.1
24	19.4	17.6	13.8
50.2	52.5	48.7	36.5
1.3	−0	0	0
153	144	52.5	42.5
31.3%	42.0%	55.5%	27.5%
105	83.5	23.3	30.8
–	minus 20.3%	minus 72.1%	+32.1%
5.56	4.44	1.26	1.66

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore

Total assetsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
18.8	18.8	18.5	18.5
721	803	788	810
375	456	507	336
165	137	149	133
1,280	1,415	1,463	1,298
583	584	547	528
0.9	0.5	–	–
0.3	0.3	0.3	0.4
0.7	0.8	82.3	13.3
695	830	833	756
1,280	1,415	1,463	1,298

Cash flow

Yearly, ₹ crore

Cash from operationsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
314	13.4	60.7	129
−91.5	−40.7	−6.5	−3.7
−222	27.2	27.3	−194
0.4	−0.1	81.5	−68.9
−98.7	−50.8	−12.4	−7
215	−37.4	48.3	122
−37.7	–	–	−9.3

Shareholding pattern

Source: NSE filings

42.1%

promoters

Promoters42.14%
Public57.86%
As of 30 Sep 2026

Quarter	Promoters	Public	Promoter change
30 Sep 2026	42.14%	57.86%	0.00
30 Jun 2026	42.14%	57.86%	0.00
31 Mar 2026	42.14%	57.86%	plus 0.04
31 Dec 2025	42.10%	57.90%	0.00
30 Sep 2025	42.10%	57.90%	–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you