On 5 Nov 2026, SBEC Sugar was priced at ₹61.00, or 5.4× trailing earnings, against an industry P/E of 15.1×, and the shares are 31% below their 52-week high. Its ROCE of 24% is the highest among the 7 largest Confectioners peers, and sales fell 5.2% a year over 3 years, though net profit is above operating profit, which points to a one-off gain. Debt is 1.63× equity. It is a small-cap company with a market cap of ₹291 Cr, ranked 18th of 37 Confectioners companies by market cap; the shares rose 95% over the past year.
- ₹61.05
- ₹61.05
- ₹59.00
- ₹61.00
- 193
Health check
- ReturnsAhead
+95.0% over a year, better than 6 of 7 peers.
- Price tagDistorted
A one-off gain inflates profit, so P/E isn’t comparable right now.
- GrowthShrinking
Sales −5.2% a year over 3 years.
- ProfitabilityStrong
ROCE 24.3% vs peer median 9.6%.
- Balance sheetStretched
Debt 1.63× equity, interest covered 1.4×, Piotroski 4 of 9.
- Red flags5 to check
Debt is 1.63× equity.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹291 Cr
- Small cap
- P/E
- 5.4
- Industry 15.1
- Price to book
- 1.74
- Peers 1.58
- Dividend yield
- 0.00%
- ROE
- 12.0%
- Peers 7.7%
- ROCE
- 24.3%
- Peers 9.6%
- Debt to equity
- 1.63
- Debt ₹273 Cr
- EPS (TTM)
- ₹11.30
- OPM (TTM)
- 3.0%
- Net margin 10.2%
- Sales growth
- −17.4%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 0.55
- EV/EBITDA 33.8
Strengths and risks
Strengths
- Return on capital employed of 24.3%.
Risks to check
- Debt is 1.63× equity.
- Quarterly sales down 17.4% on a year ago.
- Net profit is above operating profit, so a one-off gain is likely flattering earnings.
- 31% below its 52-week high.
- Interest coverage of only −0.1×.
About SBEC Sugar
SBEC Sugar Limited, engages in the production of sugar and related by products in India. The company was incorporated in 1991 and is based in Baghpat, India.
- Headquarters
- Baghpat
- Employees
- 344
- Sector
- Consumer Defensive
- ISIN
- INE948G01019
- Website
- sbecsugar.com
Price range
- Avg volume (3M)
- 4.2K
- 1-year return
- plus 95.0%
- From 52-week high
- minus 31.3%
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% |
| SBECSUGSBEC Sugar | 61.00 | 0.00% | 291 | 5.4 | 1.74 | 24.3% | 12.0% | 3.0% | −5.2% | – | 0.00% | plus 95.0% |
| 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 |
|---|---|---|---|---|---|
| 120 | 147 | 123 | 159 | 99 | |
| 133 | 159 | 124 | 137 | 90.9 | |
| −12.7 | −12.8 | −1.2 | 21.8 | 8.1 | |
| −10.6% | −8.7% | −1.0% | 13.7% | 8.2% | |
| 0 | 0.2 | 1.5 | 85.7 | 17.9 | |
| 8.6 | 10.9 | 13 | 12.2 | 12.3 | |
| 4.8 | 5.1 | 4.6 | 4 | 4.5 | |
| −26 | −28.6 | −17.3 | 91.3 | 9.2 | |
| – | – | – | 0.8% | – | |
| −26 | −28.6 | −17.3 | 90.6 | 9.2 | |
| -5.47 | -6.00 | -3.63 | 19.01 | 1.92 |
Profit & loss
- Sales CAGR 3Y
- −5.2%
- ROE
- 12.0%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 643 | 653 | 629 | 547 | |
| – | +1.5% | minus 3.5% | minus 13.1% | |
| 622 | 608 | 589 | 552 | |
| 20.9 | 44.8 | 40.3 | −4.5 | |
| 3.2% | 6.9% | 6.4% | −0.8% | |
| 10.1 | 1.6 | 66.8 | 86.7 | |
| 18.4 | 22.8 | 38.7 | 44.7 | |
| 21.2 | 21.4 | 19.4 | 18.5 | |
| 0.2 | −0.8 | −0 | 0.4 | |
| −8.3 | 1.5 | 49 | 19.4 | |
| −26.2% | 316.9% | 1.8% | 3.8% | |
| −10.5 | −12.1 | 48.1 | 18.7 | |
| -2.20 | -0.69 | 10.09 | 3.91 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 47.7 | 47.7 | 47.7 | 47.7 | |
| −69.9 | −85.5 | 95.6 | 120 | |
| 114 | 232 | 202 | 273 | |
| 597 | 520 | 569 | 463 | |
| 689 | 714 | 914 | 904 | |
| 251 | 240 | 223 | 206 | |
| 3.6 | 5.9 | 0.6 | 0.8 | |
| 185 | 185 | 185 | 410 | |
| 4.9 | 1.5 | 1.2 | 4.5 | |
| 244 | 281 | 504 | 282 | |
| 689 | 714 | 914 | 904 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 68.5 | −47.3 | 70.1 | −27.3 | |
| −3.3 | −50.9 | −2 | 2.2 | |
| −65.5 | 95 | −68.6 | 26.7 | |
| −0.3 | −3.3 | −0.5 | 1.5 | |
| −14.6 | −10.8 | −2.2 | −1.6 | |
| 53.8 | −58.1 | 67.9 | −28.9 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
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