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Dwarikesh Sugar Industries

DWARKESH NSE
₹43.59 +1.47 (+3.49%)
P/E
55.88
View as Markdown
MCP
Close 4 Nov 2026 ₹43.59 +1.90 +4.56% 1Y
Start ₹41.69

Key Fundamentals

MicrocapConsumer GoodsFMCG

Price-based figures as of · EPS basis: Standalone · TTM

ROCE
4.62%
Debt to Equity
0.41
EPS (TTM)
₹0.78
Book Value
₹42.53
Market Cap
—
P/E (TTM)
55.88
P/B
1.02
ROE
3.77%
Dividend Yield
0.24%
EBITDA
₹94.00 Cr
52W High
₹59.90
52W Low
₹32.13
Day Range
₹41.70 – ₹43.90
Volume
14,83,680

Peer Comparison

Fast Moving Consumer Goods › Consumer Goods › Sugar

Dwarikesh Sugar Industries peer comparison
Balrampur Chini Mills
₹673.6536.85₹14,183 Cr3.110.53%9.51%9.27%₹6,366 Cr₹371 Cr
Triveni Engineering & Industries
₹245.6119.57₹5,499 Cr1.751.14%8.68%9.02%₹6,173 Cr₹270 Cr
Bajaj Hindusthan Sugar
₹18.83104.61₹4,423 Cr4.710.00%24.40%3.11%₹5,332 Cr₹116 Cr
Bannari Amman Sugars
₹3,459.1035.63₹4,389 Cr2.270.36%7.26%8.75%₹1,670 Cr₹122 Cr
Shree Renuka Sugars
₹18.49—₹3,865 Cr—0.00%—−3.06%₹9,365 Cr−₹780 Cr
Dalmia Bharat Sugar & Industries
₹483.5518.89₹3,739 Cr1.211.45%7.33%8.25%₹3,525 Cr₹207 Cr
Avadh Sugar & Energy
₹894.8027.16₹1,708 Cr1.591.20%5.63%6.83%₹2,756 Cr₹66 Cr
Dwarikesh Sugar Industries (this company)
₹43.5955.88₹796 Cr1.020.24%3.77%4.62%₹1,355 Cr₹13 Cr
Median 8 companies₹364.5835.63₹4,127 Cr1.750.45%7.33%7.54%₹4,429 Cr₹119 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

44 Weak

Data confidence 100/100

Category scores

Quality
68
Strong
Returns, margins, earnings quality 22% weight
Valuation
48
Average
Cheap vs sector & own history 24% weight
Growth
19
Poor
Sales & profit trajectory 9% weight
Financial Health
49
Average
Solvency, leverage, coverage 9% weight
Momentum
37
Weak
Trend strength, vol-adjusted 12% weight
Ownership
34
Poor
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company has reduced debt.
  • Stock is trading at 0.98 times its book value

Weaknesses

3
  • The company has delivered a poor sales growth of -5.28% over past five years.
  • Company has a low return on equity of 5.70% over last 3 years.
  • Company might be capitalizing the interest cost

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish775
OscillatorsBearish270
Moving AveragesNeutral505

Key readings

RSI (14)
49.68
Neutral
MACD (12,26,9)
−0.75
Bearish
SMA (50)
45.33
Bearish
SMA (200)
42.55
Bullish

As of

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+5.85%
5Y−5.28%
3Y−12.64%
1Y+3.16%
TTM−4.85%

Net profit

Net profit growth by window
10Y−2.27%
5Y−19.55%
3Y−33.41%
1Y+34.78%
TTM−45.83%

Operating cash flow

Operating cash flow growth by window
10Y+13.30%
5Y−15.30%
3Y−25.66%
1Y+111.48%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−7.39 pp
5Y−4.72 pp
3Y−4.01 pp
1Y−2.10 pp
TTM−3.80 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹1,190 Cr
Mar 2018₹1,430 Cr
Mar 2019₹1,084 Cr
Mar 2020₹1,336 Cr
Mar 2021₹1,839 Cr
Mar 2022₹1,979 Cr
Mar 2023₹2,103 Cr
Mar 2024₹1,710 Cr
Mar 2025₹1,359 Cr
Mar 2026₹1,402 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹156 Cr
Mar 2018₹101 Cr
Mar 2019₹95.00 Cr
Mar 2020₹73.00 Cr
Mar 2021₹92.00 Cr
Mar 2022₹155 Cr
Mar 2023₹105 Cr
Mar 2024₹84.00 Cr
Mar 2025₹23.00 Cr
Mar 2026₹31.00 Cr

Quarterly Results

₹ Cr
DWARKESH quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
571
446
313
380
341
246
313
459
405
246
325
425
358
257
Expenses
494
417
287
307
339
269
286
352
402
287
287
339
384
271
Operating Profit
77
29
26
73
2
−23
27
107
4
−41
38
87
−26
−15
OPM %
13%
6%
8%
19%
0.7%
−9%
9%
23%
1%
−17%
12%
20%
−7%
−6%
Other Income
0
3
6
2
1
2
4
0
0
2
3
1
2
6
Interest
6
4
4
7
6
3
3
8
5
2
1
6
3
1
Depreciation
13
13
14
13
12
12
12
12
12
12
12
0
8
7
PBT
59
15
14
56
−15
−36
16
88
−13
−53
27
82
−34
−18
Tax %
31%
31%
31%
59%
−35%
−33%
32%
47%
−28%
−38%
42%
30%
−25%
−25%
Net Profit
41
10
10
23
−10
−24
11
46
−9
−33
15
57
−26
−13
EPS (₹)
2.16
0.54
0.52
1.22
−0.53
−1.3
0.58
2.5
−0.51
−1.76
0.83
3.1
−1.39
—

Sep 2026: from the results filed on 29 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
DWARKESH profit and loss, annual, ₹ crore
Particulars Mar 2015 18mMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,128
794
1,190
1,430
1,084
1,336
1,839
1,979
2,103
1,710
1,359
1,402
1,355
Expenses
1,043
686
917
1,287
955
1,200
1,638
1,688
1,888
1,505
1,245
1,315
1,297
Operating Profit
86
108
273
142
129
136
201
291
215
205
113
87
57
OPM %
8%
14%
23%
10%
12%
10%
11%
15%
10%
12%
8%
6%
4.2%
Other Income
10
13
18
17
36
5
7
3
14
12
6
7
9
Interest
75
52
52
25
21
33
48
32
26
20
19
15
12
Depreciation
47
31
30
32
33
37
41
44
50
52
49
37
32
PBT
−27
39
209
102
111
72
120
219
152
144
52
43
21
Tax %
−37%
1%
25%
1%
14%
−3%
24%
29%
31%
42%
56%
27%
—
Net Profit
−17
39
156
101
95
73
92
155
105
84
23
31
14
EPS (₹)
−1.03
2.39
8.29
5.39
5.05
3.9
4.86
8.24
5.56
4.44
1.26
1.66
0.78
Div. Payout %
0%
0%
12%
0%
20%
26%
26%
24%
36%
0%
40%
6%
—

Balance Sheet

₹ Cr
DWARKESH balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
16
16
19
19
19
19
19
19
19
19
19
19
Reserves
56
70
267
347
445
465
560
654
721
803
788
810
Borrowings
655
687
533
342
656
846
609
524
375
456
507
336
Other Liabilities
271
229
200
276
246
279
257
222
166
137
149
133
Total Liabilities
999
1,001
1,019
984
1,365
1,609
1,445
1,420
1,280
1,415
1,463
1,298
Fixed Assets
399
356
331
341
319
430
410
388
582
583
547
528
CWIP
0
0
1
0
16
2
1
142
0
0
0
0
Investments
0
0
0
0
0
0
0
0
0
1
1
1
Other Assets
600
644
687
642
1,029
1,177
1,035
889
697
831
915
769
Total Assets
999
1,001
1,019
984
1,365
1,609
1,445
1,420
1,280
1,415
1,463
1,298

Cash Flow

₹ Cr
DWARKESH cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
−151
37
141
298
−250
11
296
339
314
13
61
129
Investing
−4
−13
−5
−41
−44
−111
−18
−198
−92
−41
−7
−4
Financing
154
−20
−140
−256
292
101
−280
−141
−222
27
27
−194
Net Cash Flow
−1
4
−4
2
−2
1
−2
0
0
0
81
−69
Free Cash Flow
−155
24
136
257
−298
−100
276
178
216
−37
48
122
CFO/OP
−176
34
66
240
−178
19
147
129
160
19
64
159

Ratios

DWARKESH financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
14
30
17
14
20
27
13
6
12
8
16
13
Inventory Days
195
333
286
172
388
330
223
191
128
222
272
231
Days Payable
80
89
36
70
86
75
49
24
13
13
12
4
Cash Conversion Cycle
129
273
267
116
322
281
187
173
128
216
276
240
Working Capital Days
−40
−11
21
10
71
52
56
53
60
87
93
109
ROCE %
8%
11%
32%
17%
14%
9%
13%
21%
15%
14%
5%
5%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Dwarikesh Sugar Industries insights

62 extracted metrics across FY12–FY27.

Shareholding Pattern

As of Sep 2026

  • Public 50.79%
  • Promoters 42.14%
  • Others 5.82%
  • FIIs 1.01%
  • Government 0.13%
  • DIIs 0.10%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

  • Q1 FY27 concall · Jul 2026
    PPT
  • Concall · May 2026
    PPT
  • Q3 FY26 concall · Feb 2026
    PPT
  • Q2 FY26 concall · Oct 2025
    PPT
  • Q1 FY26 concall · Aug 2025
    PPT

Frequently Asked Questions about Dwarikesh Sugar Industries

What does Dwarikesh Sugar Industries Ltd do?
Dwarikesh Sugar Industries Ltd is primarily engaged in manufacturing of sugar and allied products. It has strong presence in fields such as sugar manufacturing, power and ethanol/ industrial alcohol production.
Where is Dwarikesh Sugar Industries Ltd (DWARKESH) listed?
Dwarikesh Sugar Industries Ltd trades as DWARKESH on the NSE and under code 532610 on the BSE.
Which sector does Dwarikesh Sugar Industries Ltd belong to?
Dwarikesh Sugar Industries Ltd is classified under the Consumer Goods sector, in the Sugar industry.
What is the PE ratio of Dwarikesh Sugar Industries Ltd?
Dwarikesh Sugar Industries Ltd trades at a PE ratio of 55.88 as of 4 Nov 2026, on earnings per share of ₹0.78, against a book value of ₹42.53 per share.
What is the 52-week high and low of Dwarikesh Sugar Industries Ltd?
Over the last 52 weeks Dwarikesh Sugar Industries Ltd has traded between ₹32.13 and ₹59.9 as of 4 Nov 2026.
Does Dwarikesh Sugar Industries Ltd pay dividends?
Dwarikesh Sugar Industries Ltd has a dividend yield of 0.24%.
What is the Return on Equity (ROE) of Dwarikesh Sugar Industries Ltd?
Dwarikesh Sugar Industries Ltd reported a return on equity of 3.77%. Its debt-to-equity ratio is 0.41.

Company Information

Dwarikesh Sugar Industries Ltd is primarily engaged in manufacturing of sugar and allied products. It has strong presence in fields such as sugar manufacturing, power and ethanol/ industrial alcohol production. It is also a bio-energy company with supporting businesses of sugar manufacture and power co-generation.

Website dwarikesh.com
CEO Mr. Gautam Radheshyam Morarka
Employees 1,473
Listed 31 Dec 2004
Face Value ₹1

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