Uttam Sugar Mills Limited (UTTAMSUGAR) AI Stock Analysis

• Market Cap: ₹8.26B
• Dividend Yield: 0.95%
• Average Volume (3M): 1.21K
• Price to Earnings (P/E): 7.3
• Beta (1Y): 2.17
• Revenue Growth: 19.83%
• EPS Growth: 46.44%
• Country: IN
• Employees: 852
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Food Confectioners
• EPS (TTM): 0.26
• Shares Outstanding: 38,138,120
• 10 Day Avg. Volume: 869
• 30 Day Avg. Volume: 1,213
• PEG Ratio: -0.34
• Price to Book (P/B): 1.28
• Price to Sales (P/S): 0.55
• P/FCF Ratio: 18.43
• 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: 64 Neutral
• Price Target: ₹232.00 ▼(-5.73% Downside)

Uttam Sugar Mills Limited's overall stock score is driven by solid financial performance and attractive valuation, indicating potential for value investors. However, technical analysis suggests caution due to bearish momentum and price trends below key moving averages. The absence of earnings call data and corporate events limits additional insights.

Positive Factors

Diversified by-product revenue

Uttam Sugar’s integrated model monetizes molasses, bagasse and press-mud alongside sugar, providing multiple cash flow channels. This diversification reduces reliance on raw sugar realizations alone, supports margin resilience via power sales/internal fuel savings and underpins steadier long-term cash generation.

Healthy operating margins

Sustained gross and operating margins indicate disciplined cost control and scale benefits in milling and processing. Consistent 9% EBIT and 12% EBITDA margins support the company's ability to absorb commodity swings and invest in operations, helping preserve profitability across cycles.

Improved free cash flow

The shift to positive free cash flow and healthy operating cash-to-net-income metrics signal improving cash generation and operational efficiency. Durable cash conversion enhances debt servicing, funds capex or by-product commercialization, and reduces financing dependence over the medium term.

Negative Factors

Revenue contraction

A year-over-year revenue decline points to vulnerability in demand, recovery rates, or realizations. For a commodity-driven processor, persistent top-line contraction can pressure margins, limit reinvestment capacity, and make earnings and cashflow recovery slower, affecting medium-term growth trajectory.

Moderate leverage

A D/E near 1.1 is manageable but leaves less financial flexibility in a cyclical sector. Higher leverage increases interest and refinancing risk when sugar realizations fall, constrains free-cash deployment for modernization or expansion, and requires consistent cash generation to sustain ratings and investment capacity.

Slim net margins

A modest 4.8% net margin limits the buffer against commodity price drops or cost shocks. With narrow ultimate profitability, the firm must sustain high operational efficiency and by-product monetization; otherwise small adverse swings in crude sugar prices or recovery rates could materially erode shareholder returns over time.

Uttam Sugar Mills Limited Business Overview & Revenue Model

Company Description

Uttam Sugar Mills Limited, together with its subsidiaries, manufactures and sells sugar products under the Uttam brand in India. It operates through: Sugar, Cogeneration, and Distillery segments. The company also produces industrial alcohol and ethanol; and engages in the power generation business. It serves pharmaceuticals, processed food and beverages, confectionery, diary, bakery, distillery, honey replacement, sauces, breakfast cereals, tobacco, direct consumption, and service, includes hotels, hospitals, and travel and tourism industries. The company was formerly known as Associated Sugar Mills Limited and changed its name to Uttam Sugar Mills Limited in November 1998. Uttam Sugar Mills Limited was founded in 1960 and is based in Noida, India.

How the Company Makes Money

Uttam Sugar Mills Limited generates revenue through several key streams: the sale of sugar, which constitutes the largest portion of its income, followed by the production and sale of ethanol, which is increasingly significant due to rising demand for biofuels. The company also earns income from selling power generated from bagasse, contributing to its diversification strategy. UTTAMSUGAR may engage in partnerships with local farmers for sugarcane supply, which ensures a steady supply chain and enhances its production capacity. Additionally, fluctuations in sugar prices, government policies, and demand for ethanol as a fuel alternative significantly impact the company's earnings.

Uttam Sugar Mills Limited Financial Statement Overview

Summary

Uttam Sugar Mills Limited exhibits solid financial health with robust profitability margins and a balanced capital structure. The company needs to address its revenue contraction and manage its leverage carefully to sustain growth. Positive cash flow trends are promising, although consistency is crucial for long-term stability.

Income Statement

Uttam Sugar Mills Limited shows a strong gross profit margin of 27.0% for the most recent year, alongside a stable net profit margin of 4.8%. However, the company experienced a decline in revenue from 2024 to 2025, indicating a potential challenge in maintaining growth. EBIT and EBITDA margins remain healthy at 9.0% and 12.0% respectively, suggesting effective control over operating expenses.

Balance Sheet

The debt-to-equity ratio stands at 1.06, indicating moderate leverage, which is manageable but requires monitoring. Return on Equity (ROE) is reasonable at 11.2%, reflecting decent profitability from shareholders' investments. The equity ratio is 36.7%, showing a balanced capital structure with a fair proportion of assets financed by equity.

Cash Flow

The company witnessed a significant improvement in free cash flow from 2024 to 2025, reversing from negative to positive. Operating cash flow to net income ratio is healthy, highlighting efficient cash generation from operations. However, free cash flow to net income ratio suggests some volatility in cash retention.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	20.21B	18.46B	20.47B	20.59B	20.34B	18.19B
Gross Profit	5.26B	3.38B	5.52B	4.13B	3.07B	3.90B
EBITDA	2.35B	2.21B	2.72B	2.51B	2.82B	2.20B
Net Income	970.70M	883.10M	1.32B	1.24B	1.35B	597.58M
Balance Sheet
Total Assets	0.00	21.48B	17.85B	16.22B	15.70B	17.80B
Cash, Cash Equivalents and Short-Term Investments	122.80M	217.40M	46.23M	63.99M	89.31M	55.10M
Total Debt	0.00	8.33B	7.61B	5.94B	6.40B	8.20B
Total Liabilities	-8.23B	13.25B	10.89B	10.46B	11.07B	14.42B
Stockholders Equity	8.23B	7.88B	6.96B	5.76B	4.63B	3.38B
Cash Flow
Free Cash Flow	0.00	546.00M	-907.59M	1.07B	2.85B	860.26M
Operating Cash Flow	0.00	1.02B	333.46M	1.58B	3.20B	1.79B
Investing Cash Flow	0.00	-619.60M	-1.37B	-500.43M	-280.70M	-876.01M
Financing Cash Flow	0.00	-404.90M	1.02B	-1.10B	-2.86B	-831.63M

Uttam Sugar Mills Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 246.10
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:UTTAMSUGAR, the sentiment is Negative. The current price of 246.1 is above the 20-day moving average (MA) of 224.90, above the 50-day MA of 236.59, and below the 200-day MA of 263.89, indicating a bearish trend. The MACD of -8.81 indicates Positive momentum. The RSI at 40.11 is Neutral, neither overbought nor oversold. The STOCH value of 44.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:UTTAMSUGAR.

Uttam 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%
SAKHTISUG	56 Neutral	₹2.08B	7.51	―	―	1.70%	-71.32%
KOTARISUG	49 Neutral	₹2.01B	-157.82	―	―	-39.31%	-110.49%

Uttam Sugar Mills Limited Corporate Events

Uttam Sugar Mills Confirms Compliance With SEBI Dematerialisation Norms for Q3 FY25

Uttam Sugar Mills Limited has submitted a confirmation certificate to the stock exchanges for the quarter ended 31 December 2025, in compliance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The company’s registrar and transfer agent, MUFG Intime India, has confirmed that all securities received for dematerialisation during the quarter were duly processed, with certificates verified, mutilated, cancelled, and the depositories recorded as the registered owners within prescribed timelines, underscoring ongoing adherence to regulatory norms and robust handling of shareholders’ demat requests.