---
title: "Upper Ganges Sugar & Industries Ltd(Merged) (UPERGANGES) — Share Price, Financials & Analysis"
symbol: "UPERGANGES"
company: "Upper Ganges Sugar & Industries Ltd(Merged)"
canonical: "https://tapetide.com/stocks/UPERGANGES"
isin: "INE018B01012"
nse_symbol: "UPERGANGES"
sector: "Fast Moving Consumer Goods"
industry: "Agricultural Food & other Products"
generated_at: "2026-09-13T18:41:14.094Z"
---

# Upper Ganges Sugar & Industries Ltd(Merged) (UPERGANGES)

Canonical page: https://tapetide.com/stocks/UPERGANGES

## Company

- **NSE Symbol:** UPERGANGES
- **ISIN:** INE018B01012
- **Sector:** Fast Moving Consumer Goods
- **Industry:** Agricultural Food & other Products
- **Macro Sector:** Fast Moving Consumer Goods
- **Stock Type:** DELISTED
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** birla-sugar.com

## About

Upper Ganges Sugar & Industries is an sugar company. The Company's segments include Sugar, Spirits, Co-generation, Tea and Others.

## Latest Price

## Key Insights

### Strengths

- Company has reduced debt.
- Company is expected to give good quarter

### Weaknesses

- Stock is trading at 5.44 times its book value
- Company has a low return on equity of -66.2% over last 3 years.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 341% | -4% | 18% |
| revenue growth | 34% | 18% | 16% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2014 | Jun 2014 | Sep 2014 | Dec 2014 | Mar 2015 | Jun 2015 | Sep 2015 | Dec 2015 | Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 246 | 222 | 180 | 249 | 201 | 172 | 161 | 250 | 255 | 270 | 277 | 244 |
| Expenses | 166 | 209 | 211 | 255 | 184 | 196 | 144 | 240 | 181 | 214 | 220 | 194 |
| Operating Profit | 79 | 14 | -31 | -6 | 18 | -25 | 17 | 10 | 74 | 56 | 57 | 50 |
| OPM % | 32 | 6 | -17 | -2.5 | 9 | -14 | 11 | 3.9 | 29 | 21 | 20 | 20 |
| Other Income | 3 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 1 |
| Interest | 16 | 18 | 18 | 14 | 15 | 17 | 14 | 11 | 14 | 17 | 13 | 9 |
| Depreciation | 7 | 5 | 5 | 5 | 3 | 4 | 2 | 4 | 4 | 4 | 4 | 4 |
| Profit before tax | 59 | -9 | -53 | -24 | 1 | -45 | 1 | -4 | 58 | 35 | 40 | 37 |
| Tax % | 35 | -35 | -34 | -35 | 5 | 0 | 62 | 6 | -4 | 35 | 54 | 61 |
| Net Profit | 39 | -6 | -35 | -16 | 1 | -45 | 0 | -4 | 60 | 23 | 18 | 14 |
| EPS in Rs | 33.28 | -5 | -29.93 | -13.48 | 0.68 | -38.59 | 0.31 | -3.74 | 51.67 | 19.7 | 15.85 | 12.19 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Jun 2008 | Jun 2009 | Jun 2010 | Jun 2011 | Jun 2012 | Mar 2013 9m | Mar 2014 | Mar 2015 | Mar 2016 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 297 | 435 | 397 | 644 | 715 | 517 | 788 | 858 | 847 | 1046 |
| Expenses | 263 | 360 | 392 | 583 | 649 | 437 | 730 | 865 | 770 | 810 |
| Operating Profit | 34 | 75 | 5 | 61 | 66 | 80 | 59 | -6 | 76 | 236 |
| OPM % | 12 | 17 | 1.3 | 9 | 9 | 16 | 7 | -0.7 | 9 | 23 |
| Other Income | 13 | 7 | 12 | 7 | -13 | 8 | 5 | 3 | 4 | 4 |
| Interest | 36 | 48 | 48 | 59 | 62 | 46 | 67 | 65 | 56 | 54 |
| Depreciation | 21 | 26 | 26 | 26 | 27 | 20 | 27 | 17 | 14 | 16 |
| Profit before tax | -9 | 8 | -57 | -17 | -36 | 23 | -31 | -85 | 10 | 170 |
| Tax % | -28 | 25 | -32 | -30 | -35 | 44 | -37 | -35 | -12 | — |
| Net Profit | -6 | 6 | -39 | -12 | -23 | 13 | -19 | -55 | 11 | 115 |
| EPS in Rs | -5.42 | 5.41 | -33.67 | -10.52 | -20.04 | 10.91 | -16.72 | -47.73 | 9.65 | 99.41 |
| Dividend Payout % | 0 | 22 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Jun 2007 | Jun 2008 | Jun 2009 | Jun 2010 | Jun 2011 | Jun 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
| Reserves | 128 | 121 | 126 | 87 | 74 | 51 | 64 | 44 | -13 | -2 |
| Borrowings | 346 | 518 | 419 | 504 | 509 | 528 | 576 | 669 | 624 | 662 |
| Other Liabilities | 132 | 84 | 80 | 109 | 70 | 126 | 381 | 356 | 430 | 385 |
| Total Liabilities | 618 | 735 | 636 | 711 | 666 | 716 | 1032 | 1081 | 1052 | 1056 |
| Fixed Assets | 246 | 369 | 411 | 395 | 373 | 352 | 336 | 363 | 345 | 331 |
| CWIP | 127 | 82 | 25 | 11 | 8 | 9 | 8 | 0 | 0 | 1 |
| Investments | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 |
| Other Assets | 223 | 263 | 179 | 285 | 264 | 335 | 667 | 697 | 685 | 703 |
| Total Assets | 618 | 735 | 636 | 711 | 666 | 716 | 1032 | 1081 | 1052 | 1056 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Jun 2007 | Jun 2008 | Jun 2009 | Jun 2010 | Jun 2011 | Jun 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -23 | -39 | 165 | -37 | 65 | 16 | 6 | 13 | 117 | 22 |
| Cash from Investing Activity | -178 | -89 | -15 | 0 | -29 | 30 | -6 | -37 | -8 | 5 |
| Cash from Financing Activity | 201 | 127 | -149 | 39 | -35 | -47 | 2 | 24 | -109 | -19 |
| Net Cash Flow | -1 | -2 | 0 | 2 | 0 | -2 | 2 | 0 | 0 | 8 |
| Free Cash Flow | -207 | -130 | 148 | -40 | 60 | 8 | 1 | -28 | 113 | 15 |
| CFO/OP | 109 | -114 | 219 | -666 | 105 | 26 | 9 | 24 | -1915 | 30 |

### Ratios

| Item | Jun 2007 | Jun 2008 | Jun 2009 | Jun 2010 | Jun 2011 | Jun 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 7 | 13 | 13 | 10 | 7 | 19 | 19 | 8 | 16 | 18 |
| Inventory Days | 257 | 415 | 157 | 265 | 124 | 161 | 626 | 353 | 238 | 304 |
| Days Payable | 165 | 109 | 69 | 121 | 25 | 61 | 287 | 182 | 175 | 149 |
| Cash Conversion Cycle | 99 | 319 | 101 | 153 | 106 | 119 | 358 | 180 | 79 | 172 |
| Working Capital Days | 106 | 221 | 84 | 144 | 96 | 87 | 178 | 138 | 76 | 101 |
| ROCE % | -8 | 5 | 9 | -2 | 7 | 8 | 11 | 5 | -3 | 10 |

## Shareholding Pattern

### annual

| Category | Dec 2016 |
| --- | --- |
| Promoters | 56.37% |
| DIIs | 3.65% |
| Public | 39.99% |
| No. of Shareholders | 10279 |

### Quarterly

| Category | Jun 2016 | Sep 2016 | Dec 2016 |
| --- | --- | --- | --- |
| Promoters | 56.37% | 56.37% | 56.37% |
| FIIs | 0% | 0.04% | 0% |
| DIIs | 3.45% | 3.49% | 3.65% |
| Public | 40.19% | 40.11% | 39.99% |
| No. of Shareholders | 7100 | 9175 | 10279 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 13 / 6 / 0

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 261.44 | Buy |
| EMA (10) | 259.49 | Buy |
| SMA (20) | 251.27 | Buy |
| EMA (20) | 253.24 | Buy |
| SMA (50) | 235.61 | Buy |
| EMA (50) | 241.12 | Buy |
| SMA (100) | 228.41 | Buy |
| EMA (100) | 230.02 | Buy |
| SMA (200) | 213.81 | Buy |
| EMA (200) | 204.2 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 65.81 | Neutral |
| MACD (12,26,9) | 8.25 | Buy |
| Stochastic (14,3,3) | 69.09 | Neutral |
| ADX (14) | 38.2 | Buy |
| Williams %R (14) | -29.12 | Neutral |
| ATR (14) | 12.37 | High Volatility |
| ROC (12) | 4.88 | Buy |
| Stoch RSI (14) | 23.16 | Neutral |
| UO (7,14,28) | 51 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 4 Mar 2017 - The Hon'ble National Company Law Tribunal, Allahabad Bench ('NCLT') has, on March 2, 2017, approved the Composite Scheme of Arrangement between Upper Ganges Sugar & … | [Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 4 Mar 2017 - The Hon'ble National Company Law Tribunal, Allahabad Bench ('NCLT') has, on March 2, 2017, approved the Composite Scheme of Arrangement between Upper Ganges Sugar & …](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1e6c3bf9-a19f-4877-bafc-3abd53256ecb.pdf) |
| 4 Mar 2017 - The Hon'ble National Company Law Tribunal, Allahabad Bench ('NCLT') has, on March 2, 2017, approved the Composite Scheme of Arrangement between Upper Ganges Sugar & … | [Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 4 Mar 2017 - The Hon'ble National Company Law Tribunal, Allahabad Bench ('NCLT') has, on March 2, 2017, approved the Composite Scheme of Arrangement between Upper Ganges Sugar & …](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/3/1e6c3bf9-a19f-4877-bafc-3abd53256ecb.pdf) |
| — | [Fixation Of Record Date Under Regulation 42 Of SEBI (LODR) Regulations, 2015 14 Mar 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c84abdbb-7dd0-4f63-ba05-ea28dbea7c7b.pdf) |
| — | [Outcome of Board Meeting 14 Mar 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e5675583-d459-483d-ad83-e86cbc1063e3.pdf) |
| — | [Outcome of Board Meeting 14 Mar 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4ab45b5d-ddd9-4595-bb5c-2c31f3dd6203.pdf) |
| — | [Fixation Of Record Date Under Regulation 42 Of SEBI (LODR) Regulations, 2015 14 Mar 2017](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/3/c84abdbb-7dd0-4f63-ba05-ea28dbea7c7b.pdf) |
| — | [Outcome of Board Meeting 14 Mar 2017](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/3/e5675583-d459-483d-ad83-e86cbc1063e3.pdf) |
| — | [Outcome of Board Meeting 14 Mar 2017](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/3/4ab45b5d-ddd9-4595-bb5c-2c31f3dd6203.pdf) |
| — | [Board Meeting On Mar 14, 2017 10 Mar 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5e03ef35-c292-4e8c-a30d-f5b3d7ab9046.pdf) |
| — | [Board Meeting On Mar 14, 2017 10 Mar 2017](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/3/5e03ef35-c292-4e8c-a30d-f5b3d7ab9046.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2012 from nse](https://archives.nseindia.com/annual_reports/AR_UPERGANGES_2011_2012_18102012053939.zip) |
| from nse | [Annual Report 2010 from nse](https://archives.nseindia.com/annual_reports/AR_UPERGANGES_2009_2010_13042011022223.zip) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/530505/5305050316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/530505/5305050315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/530505/5305050314.pdf) |
| from bse | [Annual Report 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport/530505/5305050313.pdf) |
| from bse | [Annual Report 2012 from bse](https://www.bseindia.com/bseplus/AnnualReport/530505/5305050612.pdf) |
| from bse | [Annual Report 2011 from bse](https://www.bseindia.com/bseplus/AnnualReport/530505/5305050611.pdf) |
| from bse | [Annual Report 2010 from bse](https://www.bseindia.com/bseplus/AnnualReport/530505/5305050310.pdf) |
| from bse | [Annual Report 2009 from bse](https://www.bseindia.com/HIS_ANN_RPT/HISTANNR/2009/UPPER_GANGES_SUGAR_&_INDS_LTD-530505-MARCH-2009.PDF) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:41:14.094Z.