On 6 Nov 2026, Mawana Sugars was priced at ₹149.92, or 21.3× trailing earnings, against an industry P/E of 15.1×, and the shares are 21% below their 52-week high. It earns ROCE of 13% and ROE of 7.3%, and sales and net profit grew 2.0% and 41% a year over 3 years. Its dividend yield is 2.7%, and debt is 0.80× equity. It is a small-cap company with a market cap of ₹586 Cr, ranked 13th of 37 Confectioners companies by market cap; the shares rose 78% over the past year.
- ₹152.00
- ₹156.40
- ₹149.00
- ₹155.20
- 26.8K
Health check
- ReturnsAhead
+77.9% over a year, better than 6 of 7 peers.
- Price tagPricier
P/E 21.3 vs industry 15.1.
- GrowthStrong
Sales +2.0%, profit +41.4% a year over 3 years.
- ProfitabilityAverage
ROCE 13.4% vs peer median 9.6%.
- Balance sheetFair
Debt 0.80× equity, interest covered 4.7×.
- Red flags1 to check
Return on equity is low at 7.3%.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹586 Cr
- Small cap
- P/E
- 21.3
- Industry 15.1
- Price to book
- 1.12
- Peers 1.58
- Dividend yield
- 2.67%
- ROE
- 7.3%
- Peers 7.7%
- ROCE
- 13.4%
- Peers 9.6%
- Debt to equity
- 0.80
- Debt ₹420 Cr
- EPS (TTM)
- ₹7.05
- Face value ₹10
- OPM (TTM)
- 4.7%
- Net margin 1.7%
- Sales growth
- +3.8%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 0.37
- EV/EBITDA 11.1
Strengths and risks
Strengths
- Dividend yield of 2.67%.
Risks to check
- Return on equity is low at 7.3%.
About Mawana Sugars
Mawana Sugars Limited manufactures and sells sugar products in India. It operates through Sugar, Power, and Distillery segments. The company produces plantation white, refined, and specialty sugars, as well as IP grade sugar for pharmaceutical applications. It is also involved in the cogeneration of power from bagasse; and manufacturing and sale of anhydrous and hydrous ethanol, including denatured spirit, green ethanol, organic manure, potash rich ash,…
- Headquarters
- Gurugram
- Employees
- 1,170
- Sector
- Consumer Defensive
- ISIN
- INE636A01039
- Website
- mawanasugars.com
Price range
- Avg volume (3M)
- 5.1 L
- 1-year return
- plus 77.9%
- From 52-week high
- minus 20.9%
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% |
| MAWANASUGMawana Sugars | 149.92 | minus 3.40% | 586 | 21.3 | 1.12 | – | 5.3% | 5.6% | – | – | 2.67% | plus 77.9% |
| 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
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 401 | 429 | 367 | 374 | 416 | |
| 401 | 439 | 353 | 287 | 432 | |
| −0.6 | −10.1 | 14 | 87.7 | −16.6 | |
| −0.1% | −2.4% | 3.8% | 23.4% | −4.0% | |
| 0.7 | 0.4 | 15 | 1.5 | 0.7 | |
| 11 | 4.4 | 0.5 | 6.2 | 7.9 | |
| 7.2 | 7.4 | 8 | 8.4 | 7 | |
| – | – | −15 | 9.4 | – | |
| −18.1 | −21.6 | 5.5 | 84.1 | −30.9 | |
| 25.4% | 25.4% | 28.0% | 25.3% | 25.2% | |
| −13.5 | −16.1 | 3.9 | 62.8 | −23.1 | |
| -3.46 | -4.12 | 1.01 | 16.06 | -5.90 |
Profit & loss
- Sales CAGR 3Y
- +2.0%
- Profit CAGR 3Y
- +41.4%
- EPS CAGR 3Y
- +41.3%
- ROE
- 7.3%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,478 | 1,351 | 1,443 | 1,568 | |
| – | minus 8.6% | +6.8% | +8.6% | |
| 1,400 | 1,260 | 1,321 | 1,463 | |
| 77.4 | 90.8 | 122 | 105 | |
| 5.2% | 6.7% | 8.5% | 6.7% | |
| 2 | 4.3 | 9.1 | 3.7 | |
| 27.9 | 29.7 | 29.6 | 22.2 | |
| 35.6 | 35.4 | 33.6 | 31 | |
| −0.6 | 23.1 | 61.3 | −5.5 | |
| 15.2 | 53 | 129 | 49.8 | |
| 13.8% | 29.0% | 15.4% | 25.5% | |
| 13.1 | 37.7 | 109 | 37.1 | |
| – | +186.7% | +190.6% | minus 66.1% | |
| 3.36 | 9.63 | 27.97 | 9.48 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 39.1 | 39.1 | 39.1 | 39.1 | |
| 345 | 371 | 453 | 486 | |
| 383 | 568 | 419 | 420 | |
| 266 | 200 | 185 | 177 | |
| 1,033 | 1,179 | 1,096 | 1,123 | |
| 214 | 205 | 194 | 189 | |
| 17.2 | 1.3 | 3.9 | 10 | |
| – | 0.7 | 1.1 | 0.6 | |
| 26.8 | 10.1 | 10 | 27.4 | |
| 775 | 961 | 888 | 896 | |
| 1,033 | 1,179 | 1,096 | 1,123 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 108 | −164 | 114 | 73.3 | |
| −38.6 | 4.6 | 88.8 | −30.8 | |
| −75.8 | 143 | −206 | −25.1 | |
| −6 | −16.3 | −0.9 | 17.4 | |
| −35.4 | −30.2 | −27.3 | −32.6 | |
| 73 | −195 | 86.5 | 40.7 | |
| −11.7 | −11.7 | −27.4 | −3.9 |
Shareholding pattern
- Promoters63.49%
- Public36.51%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 63.49% | 36.51% | 0.00 | |
| 30 Jun 2026 | 63.49% | 36.51% | 0.00 | |
| 31 Mar 2026 | 63.49% | 36.51% | 0.00 | |
| 31 Dec 2025 | 63.49% | 36.51% | 0.00 | |
| 30 Sep 2025 | 63.49% | 36.51% | – |
Major shareholders
Filings & events
News
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