Dhampur Sugar Mills Limited (DHAMPURSUG) AI Stock Analysis

• Market Cap: ₹7.52B
• Dividend Yield: N/A
• Average Volume (3M): 6.96K
• Price to Earnings (P/E): 11.0
• Beta (1Y): 1.83
• Revenue Growth: 11.07%
• EPS Growth: -19.56%
• Country: IN
• Employees: 1,218
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Food Confectioners
• EPS (TTM): 4.12
• Shares Outstanding: 64,306,510
• 10 Day Avg. Volume: 4,888
• 30 Day Avg. Volume: 6,957
• PEG Ratio: -0.26
• Price to Book (P/B): 0.71
• Price to Sales (P/S): 0.42
• P/FCF Ratio: 4.52
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 59 Neutral
• Price Target: ₹121.00 ▼(-0.82% Downside)

Dhampur Sugar Mills Limited faces challenges with volatile financial performance and moderate technical indicators. The stock's valuation is reasonable, but the lack of dividend yield and strong market momentum limits its appeal. The company's ability to manage leverage and improve operational efficiency will be critical for future growth.

Positive Factors

Integrated, diversified business model

Dhampur's integrated model—sugar, ethanol, cogeneration and by‑product sales—creates multiple cash streams that reduce reliance on a single commodity cycle. This structural diversification supports steadier revenues and better asset utilization over the medium term.

Structural ethanol demand exposure

Direct participation in India’s ethanol blending program links Dhampur to a government‑driven, durable demand pillar. Ethanol sales can smooth cyclical sugar volatility and potentially capture higher realizations, improving long‑term revenue mix and policy‑backed market visibility.

Recent improvement in cash generation

Recent upticks in operating cash flow suggest management is improving working capital or operational efficiency. If sustained, stronger cash generation enhances debt servicing capacity, funds reinvestment in mills/distilleries, and reduces reliance on external financing over months.

Negative Factors

Volatile revenue and margin pressure

Persistent revenue volatility and margin compression undermine predictable earnings and reinvestment capacity. For a commodity‑exposed sugar processor, sustained margin stress hampers long‑term competitiveness and increases sensitivity to input cost swings and policy shifts.

Moderately high leverage

A moderately high debt burden limits strategic flexibility and raises interest cost sensitivity. Coupled with cyclical revenues, leverage increases default and refinancing risk, constrains capital allocation for upgrades, and makes durable improvement dependent on debt reduction or stronger cash flow.

Inconsistent historical cash flows

Historical variability in operating cash flow weakens the company’s ability to fund seasonal working capital, capex, and debt maturities without external support. Even with recent gains, structural dependence on crop cycles and commodity prices keeps liquidity risk elevated.

Dhampur Sugar Mills Limited Business Overview & Revenue Model

Company Description

Dhampur Sugar Mills Limited, together with its subsidiaries, manufactures and sells sugar and its byproducts in India. The company operates through Sugar, Chemicals, Ethanol, Power, Portable Spirits, and Others. It manufactures and sells refined, white crystal, and raw sugar; chemicals, such as acetal dehyde, acetic anhydride, oxalic acid, and ethyl acetate; ethanol, including RS, ENA, and industrial alcohol; extra neutral alcohol, fuel grade ethanol, potable alcohol, and other allied products; and country liquor. The company also generates power using bagasse and molasses; and sells petrol, agricultural products, and machinery, as well as services related to machinery. In addition, it operates co-generation facilities with a capacity of 121 megawatts. The company was incorporated in 1933 and is based in New Delhi, India.

How the Company Makes Money

Dhampur Sugar Mills generates revenue primarily through the production and sale of sugar, which constitutes a significant portion of its income. The company also earns revenue from its ethanol production, capitalizing on the increasing demand for biofuels in India. Additionally, revenue is generated from power sales, as the company utilizes bagasse to produce electricity, which is supplied to the grid or utilized for its own operations. The company benefits from strategic partnerships with agricultural suppliers for sugarcane procurement and has established relationships with various distributors and retailers to enhance its market reach. Factors such as government policies supporting renewable energy and sugar prices significantly influence its earnings.

Dhampur Sugar Mills Limited Financial Statement Overview

Summary

Dhampur Sugar Mills Limited operates in a challenging environment with volatile revenue and profit trends. While there are risks associated with high leverage, the company maintains a stable equity position and has shown improvements in cash flow generation. Continued focus on operational efficiency and debt management is crucial for future stability.

Income Statement

The company shows a volatile revenue trend with a significant drop in recent years. Gross and net profit margins have been under pressure, indicating challenges in cost management and profitability. A decline in EBIT and EBITDA margins also point to operational inefficiencies.

Balance Sheet

The balance sheet reveals a moderately high debt-to-equity ratio, suggesting leverage risk. However, the equity ratio is stable, and there is a reasonable return on equity, reflecting a balanced financial structure despite the liabilities.

Cash Flow

Operating cash flows have been inconsistent, with recent improvements. The free cash flow to net income ratio indicates the ability to generate cash from operations, although historical fluctuations highlight potential liquidity concerns.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	19.74B	19.57B	21.69B	24.60B	18.78B	20.21B
Gross Profit	4.36B	4.34B	5.31B	3.61B	4.63B	3.69B
EBITDA	1.82B	1.70B	2.98B	3.18B	2.97B	3.16B
Net Income	520.70M	522.10M	1.34B	1.57B	1.44B	2.29B
Balance Sheet
Total Assets	0.00	23.87B	23.57B	21.22B	21.65B	34.71B
Cash, Cash Equivalents and Short-Term Investments	1.40B	1.50B	483.20M	384.40M	445.50M	724.10M
Total Debt	0.00	9.36B	9.81B	7.44B	8.86B	11.58B
Total Liabilities	-11.53B	12.34B	12.56B	10.79B	12.80B	19.11B
Stockholders Equity	11.53B	11.52B	11.00B	10.43B	8.85B	15.60B
Cash Flow
Free Cash Flow	0.00	1.80B	-1.26B	2.34B	-881.50M	7.92B
Operating Cash Flow	0.00	2.01B	-525.50M	3.83B	-1.50M	8.80B
Investing Cash Flow	0.00	223.50M	-916.20M	-1.46B	-908.80M	-800.40M
Financing Cash Flow	0.00	-1.11B	1.09B	-2.43B	771.20M	-7.38B

Dhampur Sugar Mills Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 122.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DHAMPURSUG, the sentiment is Neutral. The current price of 122 is above the 20-day moving average (MA) of 116.53, above the 50-day MA of 121.51, and below the 200-day MA of 135.32, indicating a neutral trend. The MACD of -2.07 indicates Negative momentum. The RSI at 47.50 is Neutral, neither overbought nor oversold. The STOCH value of 60.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:DHAMPURSUG.

Dhampur Sugar Mills Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
UTTAMSUGAR	64 Neutral	₹8.26B	7.34	―	0.95%	19.83%	46.44%
MAGADSUGAR	63 Neutral	₹6.12B	7.42	―	2.49%	8.96%	-19.55%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
AVADHSUGAR	60 Neutral	₹6.65B	10.49	―	2.63%	4.95%	-26.77%
DHAMPURSUG	59 Neutral	₹7.52B	10.98	―	―	11.07%	-19.56%
UGARSUGAR	50 Neutral	₹4.28B	43.58	―	0.60%	20.40%	―
DWARKESH	46 Neutral	₹6.52B	43.30	―	1.34%	11.15%	―