Dwarikesh Sugar Industries Ltd. (IN:DWARKESH)
:DWARKESH
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Dwarikesh Sugar Industries Ltd.
(DWARKESH)
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Rating:57Neutral
Price Target:
₹49.00
▲(31.61% Upside)
Action:ReiteratedDate:05/01/26
The score is primarily constrained by weakening profitability, volatile operating cash flow, and high leverage. Technicals are moderately supportive with the stock trading above major moving averages and a positive MACD, and valuation looks reasonable with a low-to-moderate P/E and a small dividend yield.
Positive Factors
Diversified revenue mix (sugar, ethanol, power, by-products)
The company monetizes multiple cash-generating streams—sugar, ethanol, bagasse-based power and by-products—reducing reliance on any single commodity price. This structural diversification supports more resilient revenue and helps smooth seasonality inherent to sugarcane processing over months and years.
Negative Factors
High leverage (elevated debt-to-equity)
Sustained high leverage increases interest burden and reduces financial flexibility, constraining the firm's ability to invest in maintenance capex or expand ethanol/power capacity. In a cyclical agro-commodity industry, high debt amplifies downside during weak harvests or price compression and elevates refinancing risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified revenue mix (sugar, ethanol, power, by-products)
The company monetizes multiple cash-generating streams—sugar, ethanol, bagasse-based power and by-products—reducing reliance on any single commodity price. This structural diversification supports more resilient revenue and helps smooth seasonality inherent to sugarcane processing over months and years.
Read all positive factors
Dwarikesh Sugar Industries Ltd. (DWARKESH) vs. iShares MSCI India ETF (INDA)
Market Cap
₹8.70B
Dividend Yield1.34%
Average Volume (3M)44.59K
Price to Earnings (P/E)11.3
Beta (1Y)1.32
Revenue Growth12.14%
EPS GrowthN/A
CountryIN
Employees1,443
SectorConsumer Defensive
Sector Strength42
IndustryFood Confectioners
Share Statistics
EPS (TTM)0.83
Shares Outstanding185,301,470
10 Day Avg. Volume46,261
30 Day Avg. Volume44,588
Financial Highlights & Ratios
PEG Ratio-0.43
Price to Book (P/B)0.90
Price to Sales (P/S)0.53
P/FCF Ratio19.56
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)5.2
Revenue Forecast (FY)₹18.45B
Dwarikesh Sugar Industries Ltd. Business Overview & Revenue Model
Company Description
Dwarikesh Sugar Industries Limited, an integrated conglomerate, manufactures and sells sugar and allied products in India and internationally. It is also involved in the co-generation of power; manufacture of industrial alcohol and ethanol; and pr...
How the Company Makes Money
DWARKESH makes money primarily by processing sugarcane into sugar and selling it, and by monetizing co-products generated during the sugar-manufacturing process. (1) Sugar sales: The core revenue stream is the sale of sugar produced from sugarcane...
Dwarikesh Sugar Industries Ltd. Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
55
Neutral
Cash Flow
50
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 14.23B | 13.59B | 17.10B | 21.03B | 19.74B | 18.39B |
| Gross Profit | 2.74B | 1.67B | 4.30B | 4.48B | 4.81B | 3.91B |
| EBITDA | 1.04B | 1.20B | 2.16B | 2.27B | 2.90B | 2.03B |
| Net Income | 150.51M | 233.36M | 835.17M | 1.05B | 1.55B | 915.38M |
Balance Sheet | ||||||
| Total Assets | 10.28B | 14.63B | 14.15B | 12.80B | 14.20B | 14.45B |
| Cash, Cash Equivalents and Short-Term Investments | 2.89B | 831.99M | 7.71M | 6.68M | 2.33M | 3.48M |
| Total Debt | 1.75B | 5.07B | 4.56B | 3.75B | 5.23B | 6.07B |
| Total Liabilities | 2.73B | 6.57B | 5.93B | 5.40B | 7.46B | 8.67B |
| Stockholders Equity | 7.55B | 8.06B | 8.22B | 7.40B | 6.73B | 5.79B |
Cash Flow | ||||||
| Free Cash Flow | 5.54B | 370.10M | -374.10M | 2.15B | 1.77B | 2.76B |
| Operating Cash Flow | 5.59B | 494.29M | 133.68M | 3.14B | 3.52B | 2.96B |
| Investing Cash Flow | -55.44M | -111.87M | -406.67M | -915.06M | -1.75B | -176.24M |
| Financing Cash Flow | -3.51B | 432.11M | 271.97M | -2.22B | -1.78B | -2.80B |
Dwarikesh Sugar Industries Ltd. Technical Analysis
Positive
37.23
Price Trends
39.33
Positive
38.43
Positive
40.99
Positive
Market Momentum
2.39
Negative
67.92
Neutral
71.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DWARKESH, the sentiment is Positive. The current price of 37.23 is below the 20-day moving average (MA) of 43.17, below the 50-day MA of 39.33, and below the 200-day MA of 40.99, indicating a bullish trend. The MACD of 2.39 indicates Negative momentum. The RSI at 67.92 is Neutral, neither overbought nor oversold. The STOCH value of 71.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:DWARKESH.
Dwarikesh Sugar Industries Ltd. Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹9.81B | 11.08 | ― | 2.63% | 4.85% | 2.54% | |
64 Neutral | ₹9.82B | 8.10 | ― | 0.95% | 31.76% | 72.36% | |
63 Neutral | ₹7.48B | 7.06 | ― | 2.49% | 4.29% | 1.93% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
59 Neutral | ₹10.05B | 7.49 | ― | ― | 10.36% | 25.84% | |
57 Neutral | ₹8.70B | 11.32 | ― | 1.34% | 12.14% | ― | |
49 Neutral | ₹2.31B | 4.71 | ― | ― | -34.59% | -68.48% |
* Consumer Defensive Sector Average
IN:DWARKESH
Dwarikesh Sugar Industries Ltd.
46.94
7.62
19.38%
IN:AVADHSUGAR
Avadh Sugar & Energy Ltd.
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IN:DHAMPURSUG
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IN:KOTARISUG
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IN:MAGADSUGAR
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IN:UTTAMSUGAR
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257.55
-24.61
-8.72%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.