Shree Renuka Sugars Limited (RENUKA) AI Stock Analysis

• Market Cap: ₹51.21B
• Dividend Yield: N/A
• Average Volume (3M): 401.14K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.60
• Revenue Growth: -18.81%
• EPS Growth: -57.61%
• Country: IN
• Employees: 2,132
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Food Confectioners
• EPS (TTM): -0.18
• Shares Outstanding: 2,128,489,700
• 10 Day Avg. Volume: 280,995
• 30 Day Avg. Volume: 401,137
• PEG Ratio: 0.39
• Price to Book (P/B): -3.64
• Price to Sales (P/S): 0.58
• P/FCF Ratio: 8.03
• 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: 46 Neutral
• Price Target: ₹23.50 ▼(-9.51% Downside)
• Action: Reiterated Date: 10/31/25
• Date: Action: Reiterated 10/31/25

The overall stock score is primarily impacted by the company's financial performance, which is hindered by persistent losses and high leverage. Technical analysis indicates a bearish trend, further weighing down the score. Valuation metrics are unfavorable due to the negative P/E ratio and lack of dividend yield.

Positive Factors

Integrated agribusiness model

Vertical integration across mills, refineries and processing gives durable operational control over raw inputs and finished output. This structure helps capture processing spreads, supports co‑product monetization, and lowers reliance on third‑party processors, aiding margin resilience over months.

Positive operating cash flow

Consistent positive operating cash flow despite accounting losses indicates the core sugar operations convert sales into cash. That cash generation supports working capital, funds near‑term capex or cane procurement, and reduces immediate liquidity stress for the business over 2–6 months.

Stable gross margins and asset base

Relatively stable gross margins imply the company retains core processing economics even when net margins swing. Combined with a maintained asset base, this suggests underlying production capacity and cost structure can support revenue recovery and operational ramp‑up when volumes improve.

Negative Factors

High leverage and negative equity

Material leverage and negative shareholder equity create structural solvency and refinancing risk. Over months this limits financial flexibility, raises default or covenant risk, and increases cost of capital, constraining investment and strategic responses to cyclical downturns.

Persistent net losses

Ongoing net losses erode retained earnings and prevent equity rebuilding, restricting the company’s ability to internally fund growth or absorb commodity shocks. Without a sustained profitability turnaround, losses will pressure balance sheet health and strategic options over the medium term.

Recent revenue contraction

A meaningful recent revenue decline reduces scale benefits and puts downward pressure on margins and cash generation. If volumes or realizations remain weak, the company faces tougher operating leverage, slower deleveraging and heightened dependence on external financing.

Shree Renuka Sugars Limited Business Overview & Revenue Model

Company Description

Shree Renuka Sugars Limited manufactures and refines sugar in India and internationally. The company provides white/refined sugar, as well as by-products, including molasses, bagasse, press mud, and organic manure; and ethyl alcohol from molasses and fuel grade ethanol from sugarcane juice. It also produces power from bagasse, a sugarcane byproduct for state grids. The company was incorporated in 1995 and is headquartered in Belgaum, India. Shree Renuka Sugars Limited is a subsidiary of Wilmar Sugar Holdings Pte. Ltd.

How the Company Makes Money

RENUKA primarily makes money by selling sugar and sugar-related products produced from its processing operations. Its core revenue stream comes from manufacturing and selling sugar (including refined sugar where applicable) into domestic and export markets, with realizations driven by volumes sold and prevailing sugar prices. In addition to sugar, the company generates revenue from co-products of sugar processing; however, specific co-product categories and their contribution are not available (null). The company’s earnings are also influenced by commodity input costs (such as sugarcane or raw sugar), refining/processing margins, regulatory and trade policies affecting sugar procurement and sales, and the balance between domestic sales and exports; detailed disclosures on significant partnerships, customer concentration, or segment-level revenue splits are not available (null).

Shree Renuka Sugars Limited Financial Statement Overview

Summary

Shree Renuka Sugars Limited shows potential in terms of revenue growth, but faces significant challenges due to persistent losses and high leverage. The balance sheet indicates financial instability, while the cash flow statements suggest some liquidity strength. Improvement in profitability and debt management could enhance their financial position.

Income Statement

The company has shown significant revenue growth over the years, indicating strong market demand. However, the net profit margin is negative due to persistent losses, which raises concerns about long-term profitability. Gross profit margins have remained fairly stable, but the negative EBIT and EBITDA margins in earlier years highlight operational inefficiencies.

Balance Sheet

The company's balance sheet reveals a high debt-to-equity ratio, primarily due to negative stockholders' equity, indicating potential solvency issues. The equity ratio is negative, reflecting financial instability. Despite this, the firm has managed to maintain its asset base over the years.

Cash Flow

The cash flow statement shows positive operating cash flow in recent years, which is a good sign of liquidity. However, the free cash flow has fluctuated, indicating inconsistent cash generation capabilities. The operating cash flow to net income ratio is strong, suggesting effective cash management despite net losses.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	96.88B	105.89B	113.00B	90.21B	63.75B	55.55B
Gross Profit	13.22B	4.20B	13.18B	18.46B	12.27B	5.05B
EBITDA	885.50M	6.41B	6.37B	6.49B	4.62B	5.67B
Net Income	-7.44B	-3.00B	-6.27B	-1.97B	-1.39B	-1.15B
Balance Sheet
Total Assets	67.01B	88.38B	101.71B	76.04B	71.03B	69.07B
Cash, Cash Equivalents and Short-Term Investments	716.00M	687.14M	378.72M	1.67B	222.34M	369.11M
Total Debt	62.66B	58.89B	57.94B	55.69B	52.34B	44.47B
Total Liabilities	90.20B	105.13B	116.08B	84.85B	77.11B	75.71B
Stockholders Equity	-23.20B	-16.75B	-14.38B	-8.81B	-6.08B	-6.63B
Cash Flow
Free Cash Flow	809.00M	7.59B	7.38B	5.26B	-4.12B	-16.70B
Operating Cash Flow	1.76B	9.50B	9.13B	9.26B	-1.35B	-15.64B
Investing Cash Flow	-1.03B	-1.85B	-3.80B	-3.54B	-3.01B	-1.44B
Financing Cash Flow	-403.00M	-7.10B	-6.69B	-3.31B	4.54B	16.41B

Shree Renuka Sugars Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 25.97
• 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:RENUKA, the sentiment is Negative. The current price of 25.97 is above the 20-day moving average (MA) of 24.16, above the 50-day MA of 24.65, and below the 200-day MA of 28.74, indicating a bearish trend. The MACD of -0.04 indicates Negative momentum. The RSI at 47.16 is Neutral, neither overbought nor oversold. The STOCH value of 49.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:RENUKA.

Shree Renuka Sugars Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BANARISUG	66 Neutral	₹45.14B	23.32	―	0.35%	-7.81%	-6.64%
UTTAMSUGAR	64 Neutral	₹7.27B	8.10	―	0.95%	19.83%	46.44%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
AVADHSUGAR	60 Neutral	₹8.13B	11.08	―	2.63%	4.95%	-26.77%
DHAMPURSUG	59 Neutral	₹7.64B	7.49	―	―	11.07%	-19.56%
DWARKESH	55 Neutral	₹7.02B	11.32	―	1.34%	11.15%	―
RENUKA	46 Neutral	₹51.21B	-36.29	―	―	-18.81%	-57.61%

Shree Renuka Sugars Limited Corporate Events

Shree Renuka Sugars Completes Postal Ballot Notice Dispatch and Publishes E-Voting Details

Shree Renuka Sugars has announced that it has completed the electronic dispatch of its postal ballot notice dated 5 February 2026 to shareholders as of the 6 March 2026 cut-off date. The company has also provided details on remote e-voting arrangements and related matters, ensuring shareholders can participate in the decision-making process.

The disclosure was made through newspaper publications on 10 March 2026 in the Financial Express and Kannada Prabha, in line with Indian listing regulations. This step underscores the company’s adherence to regulatory requirements on transparency and shareholder communication for its listed securities.

Shree Renuka Sugars Seeks Shareholder Nod via E-Vote on Key Related-Party Deal

Shree Renuka Sugars has initiated a postal ballot process to seek shareholder approval for resolutions, including the approval of material related-party transactions with Wilmar Sugar Pte. Ltd. for FY 2026-27, using only electronic voting in line with Ministry of Corporate Affairs circulars and SEBI regulations. The e-voting window will run from March 10 to April 8, 2026, with results to be declared by April 10, 2026, and published on the company’s and KFin Technologies’ websites as well as communicated to the stock exchanges, underscoring the company’s adherence to evolving governance norms and its effort to formalize key transactions with a major group entity.

Shree Renuka Sugars Board Clears Q3 and Nine-Month FY2025 Unaudited Results

Shree Renuka Sugars Limited’s board of directors met on 5 February 2026 and approved the company’s unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025. The company has submitted these results, along with a limited review report from its statutory auditors S R B C & Co. LLP, to the exchanges in compliance with SEBI’s listing regulations, with the auditors indicating that nothing in their review suggests any material misstatement or non-compliance in the disclosed interim financial information.