As of 6 Nov 2026, Vishwaraj Sugar Industries is loss-making on a trailing 12-month basis, with a net loss of ₹38 Cr, so it has no P/E ratio. The share price is ₹4.83, 39% below its 52-week high. Sales fell 15% a year over 3 years. Debt is 1.85× equity. It is a small-cap company with a market cap of ₹105 Cr, ranked 28th of 37 Confectioners companies by market cap; the shares fell 39% over the past year.
- ₹4.80
- ₹4.86
- ₹4.71
- ₹4.79
- 2 L
Health check
- ReturnsBehind
−39.1% over a year, better than 0 of 7 peers.
- Price tagLoss-making
Earnings were negative over the last 12 months.
- GrowthShrinking
Sales −15.1% a year over 3 years.
- ProfitabilityNegative
ROCE -5.9% vs peer median 9.6%.
- Balance sheetStretched
Debt 1.85× equity, operating profit doesn’t cover interest, Piotroski 4 of 9.
- Red flags5 to check
Loss-making over the last twelve months.
Small cap
Defensive
Key metrics
- Market cap
- ₹105 Cr
- Small cap
- P/E
- n/a
- Industry 15.1
- Price to book
- 0.46
- Peers 1.58
- Dividend yield
- 0.00%
- ROE
- −15.3%
- Peers 7.7%
- ROCE
- −5.9%
- Peers 9.6%
- Debt to equity
- 1.85
- Debt ₹420 Cr
- EPS (TTM)
- −₹1.63
- Face value ₹2
- OPM (TTM)
- −3.3%
- Net margin −10.7%
- Sales growth
- −19.5%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 0.30
- EV/EBITDA −89.5
Strengths and risks
Strengths
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Loss-making over the last twelve months.
- Return on equity is low at −15.3%.
- Debt is 1.85× equity.
- Quarterly sales down 19.5% on a year ago.
- 39% below its 52-week high.
About Vishwaraj Sugar Industries
Vishwaraj Sugar Industries Limited manufactures and sells sugar from sugarcane in India. It operates in five segments: Sugar, Co-Generation, Distillery, IML, and Vinegar Unit. The company also produces distillery products, including ethanol, and rectified and extra-neutral spirits; natural alcohol vinegar for industrial, further processing to convert into a preservative, and domestic consumption purposes; and bagasse, molasses/sugarcane syrups, press-mud,…
- Headquarters
- Belgaum
- Employees
- 944
- Sector
- Consumer Defensive
- ISIN
- INE430N01022
- Website
- vsil.co.in
Price range
- Avg volume (3M)
- 6.6 L
- 1-year return
- minus 39.1%
- From 52-week high
- minus 39.4%
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% |
| VISHWARAJVishwaraj Sugar Industries | 4.83 | plus 0.84% | 105 | – | 0.46 | −5.9% | −15.3% | −3.3% | −15.1% | – | 0.00% | minus 39.1% |
| 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 |
|---|---|---|---|---|---|
| 133 | 55 | 77.7 | 111 | 107 | |
| 141 | 61.6 | 78 | 105 | 118 | |
| −7.5 | −6.6 | −0.3 | 6.3 | −10.9 | |
| −5.7% | −11.9% | −0.4% | 5.7% | −10.1% | |
| 1.9 | 0.8 | 1.8 | 1.5 | 3.2 | |
| 6.7 | 4.6 | 4.1 | 14.4 | 12 | |
| 4.1 | 4 | 4.1 | 6.1 | 6.1 | |
| −16.4 | −14.4 | −6.7 | −12.7 | −25.8 | |
| – | – | – | 186.3% | – | |
| −16.4 | −14.4 | −6.7 | 10.9 | −25.8 | |
| -0.75 | -0.66 | -0.31 | 0.53 | -1.19 |
Profit & loss
- Sales CAGR 3Y
- −15.1%
- ROE
- −15.3%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 615 | 550 | 454 | 377 | |
| – | minus 10.6% | minus 17.4% | minus 17.0% | |
| 549 | 483 | 442 | 387 | |
| 66.2 | 66.9 | 11.7 | −9.7 | |
| 10.8% | 12.2% | 2.6% | −2.6% | |
| 1 | 0.8 | 5.5 | 3.9 | |
| 26 | 29.2 | 32.6 | 27.8 | |
| 16 | 15.9 | 16.1 | 18.3 | |
| 0.4 | −0.4 | 0.4 | 0.2 | |
| 25.5 | 22.3 | −31.1 | −51.8 | |
| 191.8% | 34.9% | −19.2% | 45.6% | |
| −23.4 | 14.5 | −37 | −28.2 | |
| -0.62 | 0.78 | -1.74 | -1.26 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 37.6 | 37.6 | 43.6 | 43.6 | |
| 218 | 231 | 237 | 209 | |
| 356 | 366 | 391 | 421 | |
| 115 | 165 | 148 | 154 | |
| 726 | 799 | 819 | 828 | |
| 302 | 411 | 477 | 503 | |
| 4 | 124 | 201 | 21.7 | |
| 1.3 | 1.3 | 1.3 | 2.6 | |
| 1.5 | 0.9 | 9.1 | 2 | |
| 417 | 262 | 130 | 299 | |
| 726 | 799 | 819 | 828 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 52.1 | 146 | 50.4 | 37.2 | |
| −18.4 | −125 | −82.6 | −44.6 | |
| −44.3 | −22.4 | 40.7 | 0.3 | |
| −10.6 | −1.4 | 8.5 | −7.1 | |
| −18.5 | −126 | −82.7 | −43.4 | |
| 33.6 | 19.9 | −32.3 | −6.2 | |
| −1.9 | −1.9 | – | – |
Shareholding pattern
- Promoters29.05%
- Public70.95%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 29.05% | 70.95% | 0.00 | |
| 30 Jun 2026 | 29.05% | 70.95% | 0.00 | |
| 31 Mar 2026 | 29.05% | 70.95% | 0.00 | |
| 31 Dec 2025 | 29.05% | 70.95% | 0.00 | |
| 30 Sep 2025 | 29.05% | 70.95% | – |
Major shareholders
Filings & events
News
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