Past 10 year's financial track record analysis by Moneyworks4me indicates that Dhampur Sugar Mills Ltd is a average quality company.
The key valuation ratios of Dhampur Sugar Mills Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Dhampur Sugar Mills Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 5.5% | 9.9% | 20.2% | 12.7% | 15.4% | 10.5% | 8.3% | 11.4% | 14.8% | 12.4% | - |
| Value Creation Index ⓘ | -0.6 | -0.3 | 0.4 | -0.1 | 0.1 | -0.3 | -0.4 | -0.2 | 0.1 | -0.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 1,776 | 2,183 | 2,534 | 3,279 | 2,754 | 3,353 | 2,158 | 1,939 | 2,412 | 2,166 | 2,408 |
| Sales YoY Gr. | - | 22.9% | 16.1% | 29.4% | -16% | 21.7% | -35.6% | -10.1% | 24.4% | -10.2% | - |
| Adj EPS ⓘ | -2.1 | 3.8 | 35.4 | 23.6 | 39 | 31.9 | 20.7 | 22 | 23.2 | 18.6 | 10.9 |
| YoY Gr. | - | NA | 834.6% | -33.5% | 65.3% | -18.2% | -35% | 6.1% | 5.6% | -19.7% | - |
| BVPS (₹) ⓘ | 63.9 | 68.5 | 137.2 | 153.1 | 187.3 | 207.1 | 235.4 | 133.9 | 156.5 | 167.5 | 165.5 |
| Adj Net Profit ⓘ | -12.4 | 22.8 | 235 | 156 | 259 | 211 | 137 | 146 | 154 | 122 | 71 |
| Cash Flow from Ops. ⓘ | -78.4 | 164 | -50 | 805 | -177 | 356 | 878 | -3.7 | 380 | -48.3 | - |
| Debt/CF from Ops. ⓘ | -20.5 | 10.1 | -38.3 | 1.8 | -10.3 | 4.9 | 1.3 | -238.9 | 1.9 | -19.9 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 2.2% | -4.7% | 0.1% | -10.2% | ||||
| Adj EPS ⓘ | NA | -13.7% | -3.5% | -19.7% | ||||
| BVPSⓘ | 11.3% | -2.2% | -10.7% | 7% | ||||
| Share Price | 14.3% | -4.5% | -17.1% | -34.2% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -2.8 | 4 | 28.8 | 16.2 | 22.9 | 16.2 | 9.4 | 11.9 | 16 | 11.4 | 6.5 |
| Op. Profit Mgn % ⓘ | 7.7 | 10 | 20.6 | 11.1 | 17.4 | 10.8 | 12.8 | 15.2 | 12.5 | 12.2 | 7.3 |
| Net Profit Mgn % ⓘ | -0.7 | 1.1 | 9.3 | 4.8 | 9.4 | 6.3 | 6.4 | 7.5 | 6.4 | 5.6 | 3 |
| Debt to Equity ⓘ | 4.1 | 3.9 | 2.1 | 1.4 | 1.5 | 1.3 | 0.7 | 1 | 0.7 | 0.9 | 0.1 |
| Working Cap Days ⓘ | 307 | 264 | 240 | 191 | 251 | 237 | 344 | 273 | 153 | 160 | 60 |
| Cash Conv. Cycle ⓘ | 126 | 135 | 163 | 118 | 153 | 140 | 169 | 138 | 84 | 108 | 12 |
Debt to equity has declined versus last 3 years average to 0.88
Return on Equity has declined versus last 3 years average to 6.50%
Sales growth has been subdued in last 3 years 0.13%
Net Profit has been subdued in last 3 years -3.45%
Sales growth is not so good in last 4 quarters at -15.62%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 10.9 | 11 |
| TTM Sales (₹ Cr.) | 2,408 | 2,408 |
| BVPS (₹.) ⓘ | 165.5 | 166.4 |
| Reserves (₹ Cr.) ⓘ | 1,018 | 1,022 |
| P/BV ⓘ | 1.00 | 0.99 |
| PE ⓘ | 15.16 | 15.04 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 164.05 / 274.90 |
| All Time Low / High (₹) | 6.48 / 584.00 |
| Market Cap (₹ Cr.) | 1,078 |
| Equity (₹ Cr.) | 65.4 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 28.8 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,776 | 2,183 | 2,534 | 3,279 | 2,754 | 3,353 | 2,158 | 1,939 | 2,412 | 2,166 |
| Operating Expenses ⓘ | 1,639 | 1,967 | 2,013 | 2,915 | 2,277 | 2,991 | 1,881 | 1,645 | 2,115 | 1,902 |
| Manufacturing Costs | 107 | 132 | 134 | 142 | 154 | 141 | 80 | 97 | 117 | 135 |
| Material Costs | 1,398 | 1,689 | 1,673 | 2,574 | 1,891 | 2,587 | 1,608 | 1,385 | 1,847 | 1,611 |
| Employee Cost | 74 | 81 | 121 | 118 | 138 | 120 | 62 | 61 | 71 | 72 |
| Other Costs ⓘ | 60 | 65 | 85 | 80 | 94 | 144 | 132 | 102 | 81 | 83 |
| Operating Profit ⓘ | 137 | 217 | 521 | 364 | 478 | 362 | 277 | 294 | 296 | 265 |
| Operating Profit Margin (%) | 7.7% | 9.9% | 20.6% | 11.1% | 17.3% | 10.8% | 12.8% | 15.2% | 12.3% | 12.2% |
| Other Income ⓘ | 22 | 30 | 29 | 29 | 32 | 53 | 15 | 11 | 17 | 32 |
| Interest ⓘ | 155 | 164 | 171 | 125 | 103 | 120 | 42 | 51 | 46 | 47 |
| Depreciation ⓘ | 55 | 55 | 54 | 57 | 70 | 75 | 51 | 50 | 52 | 59 |
| Exceptional Items ⓘ | 0 | 10 | 0 | 0 | -16 | -17 | -1 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | -52 | 37 | 325 | 211 | 321 | 203 | 199 | 205 | 215 | 190 |
| Tax ⓘ | -41 | 6 | 90 | 54 | 66 | -8 | 55 | 58 | 65 | 58 |
| Profit After Tax | -10 | 32 | 235 | 157 | 255 | 211 | 143 | 147 | 150 | 133 |
| PAT Margin (%) | -0.6% | 1.5% | 9.3% | 4.8% | 9.3% | 6.3% | 6.6% | 7.6% | 6.2% | 6.1% |
| Adjusted EPS (₹) | -1.8 | 5.3 | 35.4 | 23.7 | 38.4 | 31.8 | 21.6 | 22.1 | 22.6 | 20.3 |
| Dividend Payout Ratio (%) | 0% | 0% | 17% | 13% | 17% | 19% | 28% | 27% | 27% | 0% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 428 | 722 | 911 | 1,016 | 1,243 | 1,375 | 1,563 | 888 | 1,039 | 1,095 |
| Share Capital ⓘ | 76 | 75 | 66 | 66 | 66 | 66 | 66 | 66 | 66 | 65 |
| Reserves ⓘ | 352 | 647 | 845 | 950 | 1,177 | 1,309 | 1,496 | 822 | 972 | 1,030 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 1,465 | 1,474 | 1,797 | 1,352 | 1,669 | 1,617 | 1,031 | 823 | 663 | 885 |
| Long Term Debt | 571 | 546 | 523 | 421 | 530 | 417 | 320 | 234 | 217 | 165 |
| Short Term Debt | 894 | 928 | 1,274 | 931 | 1,139 | 1,201 | 711 | 589 | 446 | 720 |
| Trade Payables | 675 | 457 | 253 | 502 | 561 | 565 | 594 | 231 | 181 | 114 |
| Others Liabilities ⓘ | 419 | 503 | 493 | 342 | 409 | 312 | 545 | 416 | 425 | 356 |
| Total Liabilities ⓘ | 2,987 | 3,157 | 3,454 | 3,212 | 3,882 | 3,870 | 3,732 | 2,359 | 2,308 | 2,450 |
Fixed Assets | ||||||||||
| Gross Block | 1,952 | 2,246 | 2,294 | 2,448 | 2,517 | 2,635 | 2,682 | 1,636 | 1,718 | 1,869 |
| Accumulated Depreciation | 700 | 752 | 802 | 856 | 925 | 1,000 | 1,069 | 636 | 672 | 719 |
| Net Fixed Assetsⓘ | 1,252 | 1,494 | 1,492 | 1,592 | 1,593 | 1,635 | 1,612 | 1,000 | 1,046 | 1,151 |
| CWIP ⓘ | 17 | 28 | 27 | 24 | 34 | 7 | 21 | 29 | 103 | 17 |
| Investmentsⓘ | 12 | 12 | 3 | 7 | 33 | 27 | 13 | 5 | 2 | 47 |
| Inventories | 1,252 | 1,262 | 1,477 | 1,146 | 1,656 | 1,604 | 1,293 | 818 | 667 | 917 |
| Trade Receivables | 222 | 256 | 225 | 243 | 315 | 309 | 307 | 200 | 195 | 160 |
| Cash Equivalents | 14 | 18 | 18 | 10 | 10 | 9 | 67 | 55 | 51 | 19 |
| Others Assetsⓘ | 219 | 87 | 211 | 190 | 242 | 278 | 418 | 252 | 244 | 139 |
| Total Assets ⓘ | 2,987 | 3,157 | 3,454 | 3,212 | 3,882 | 3,870 | 3,732 | 2,359 | 2,308 | 2,450 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -78 | 164 | -50 | 805 | -177 | 356 | 878 | -4 | 380 | -48 |
| PBT ⓘ | -52 | 27 | 325 | 211 | 321 | 203 | 321 | 205 | 215 | 190 |
| Adjustment ⓘ | 204 | 204 | 205 | 177 | 179 | 197 | 166 | 98 | 93 | 79 |
| Changes in Working Capital ⓘ | -231 | -68 | -510 | 474 | -621 | 4 | 428 | -272 | 111 | -289 |
| Tax Paid ⓘ | 0 | 0 | -70 | -56 | -55 | -48 | -36 | -34 | -39 | -28 |
| Cash Flow From Investing Activity ⓘ | -46 | -43 | -56 | -166 | -88 | -71 | -83 | -91 | -144 | -92 |
| Capex | -47 | -49 | -55 | -142 | -81 | -61 | -84 | -88 | -149 | -53 |
| Net Investments | -1 | 3 | 0 | 1 | 2 | 1 | 1 | -5 | 0 | -43 |
| Others ⓘ | 1 | 3 | -1 | -25 | -9 | -11 | 0 | 1 | 5 | 4 |
| Cash Flow From Financing Activityⓘ | 124 | -117 | 106 | -648 | 265 | -285 | -738 | 77 | -243 | 109 |
| Net Proceeds from Shares ⓘ | 0 | 4 | 59 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 29 | -100 | -124 | 186 | -152 | -114 | -5 | -10 | -37 |
| Interest Paid ⓘ | -147 | -166 | -179 | -129 | -103 | -120 | -91 | -49 | -46 | -46 |
| Dividend Paid ⓘ | 0 | 0 | -20 | -51 | -28 | -72 | -40 | 0 | -40 | -40 |
| Others ⓘ | 271 | 16 | 346 | -344 | 209 | 58 | -494 | 132 | -147 | 232 |
| Net Cash Flow ⓘ | 0 | 4 | 0 | -9 | 0 | 0 | 56 | -17 | -7 | -31 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -2.72 | 8.12 | 35.5 | 16.31 | 22.57 | 16.15 | 9.77 | 11.99 | 15.6 | 12.46 |
| ROCE (%) | 5.49 | 9.87 | 20.22 | 12.69 | 15.36 | 10.46 | 8.28 | 11.42 | 14.77 | 12.44 |
| Asset Turnover Ratio | 0.64 | 0.74 | 0.81 | 1 | 0.78 | 0.88 | 0.59 | 0.72 | 1.21 | 1.11 |
| PAT to CFO Conversion(x) | N/A | 5.13 | -0.21 | 5.13 | -0.69 | 1.69 | 6.14 | -0.03 | 2.53 | -0.36 | Working Capital Days |
| Receivable Days | 33 | 38 | 33 | 26 | 37 | 34 | 50 | 42 | 25 | 24 |
| Inventory Days | 245 | 202 | 187 | 144 | 186 | 175 | 237 | 175 | 96 | 109 |
| Payable Days | 180 | 122 | 77 | 53 | 103 | 79 | 132 | 109 | 41 | 33 |
Dhampur Sugar Mills incorporated in 1933 is engaged in manufacturing sugar, ethanol, chemicals and plantation white sugar. The company is managed by Chairman Mr.V.K.Goel.
In 1933, the company started with a production capacity of 300 TCD. Today the Dhampur Group has a combined capacity of 39,500 TCD. Company also operates captive power plant of 125 MV capacity.
Company’s R&D facility has successfully introduced various technologies namely Fibrizors, Pressure Feeders, Fiber based single tandem, Pressure Evaporation System with Falling Film Type Evaporator Bodies, Vertical Continuous Pans etc.
Dhampur Sugar is the first and the largest manufacturer of refined sulphurless sugar in the India. Company’s captive power generation capacity is amongst the largest in India.
It has also emerged as the highest ethanol manufacturing capacity relative to its cane crushing capacity, in the country.
Company’s manufacturing facilities are located at Dhampur, Mansurpur, Asmoli and Rajpura, all in Uttar Pradesh.
In 2010, Dhampur Sugar Mills acquired Dhampur Sugar Distillery Private Limited. DSDPL become the wholly owned subsidiary company.
Products
Sugar- Being pioneer in manufacturing of Sulphurless Refined Sugar, the company uses Defeco Remelt Process in which the sugar, after it has crystallized, is melted all over again and all the impurities are removed without the use of sulphur. The company also manufactures Mill White Sugar.
Ethanol- Ethanol is a product that is generated from sugarcane molasses and juice, prepared by fermentation and distillation processes. Currently company produces 5% ethanol blend. It has a manufacturing capacity of 270 KL per Day.
Chemicals- Company produces chemicals with manufacturing capacity such as Industrial Alcohol (170 KL/day), Extra Neutral Alcohol (60 KL/day), Carbon Dioxide (20 MT/day), Acetaldehyde (50 MT/day), Acetic Acid (35 MT/day), Acetic Anhydride (15 MT/day) and Ethyl Acetate (55 MT/day).
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