Past 10 year’s financial track record analysis by Moneyworks4me indicates that The Ugar Sugar Works Ltd is a below average quality company.
The key valuation ratios of The Ugar Sugar Works Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of The Ugar Sugar Works 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 % ⓘ | 3% | 13.6% | 13.8% | -7.5% | 7.8% | 9.7% | 10.1% | 12.9% | 29.7% | 11.3% | - |
| Value Creation Index ⓘ | -0.8 | 0.0 | 0.0 | -1.5 | -0.5 | -0.3 | -0.3 | -0.1 | 1.1 | -0.2 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 652 | 837 | 585 | 650 | 750 | 870 | 956 | 1,137 | 1,794 | 1,151 | 1,402 |
| Sales YoY Gr. | - | 28.4% | -30.1% | 11% | 15.4% | 16% | 9.8% | 19% | 57.7% | -35.8% | - |
| Adj EPS ⓘ | -0.3 | 1 | 2.3 | -6.1 | 0.4 | 1.2 | 1.5 | 3.8 | 9.1 | 1.9 | -0.7 |
| YoY Gr. | - | NA | 130% | -363.9% | NA | 194.9% | 32.2% | 152.6% | 137% | -79.3% | - |
| BVPS (₹) ⓘ | 7.4 | 8.1 | 10.1 | 4 | 4.6 | 5.7 | 7.1 | 10.7 | 19.5 | 20.8 | 14.1 |
| Adj Net Profit ⓘ | -3.5 | 11.3 | 25.9 | -68.3 | 4.4 | 13 | 17.1 | 43.3 | 102 | 21.2 | -8 |
| Cash Flow from Ops. ⓘ | 75.2 | -38.5 | -12.6 | 36.9 | -46.4 | 44.6 | -77.8 | 93 | 394 | -37.3 | - |
| Debt/CF from Ops. ⓘ | 2.5 | -7.2 | -28.8 | 12.8 | -11.9 | 11.5 | -7.1 | 6.9 | 0.9 | -13.8 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 6.5% | 8.9% | 6.4% | -35.8% | ||||
| Adj EPS ⓘ | NA | 37% | 7.3% | -79.3% | ||||
| BVPSⓘ | 12.2% | 35.5% | 43.3% | 6.5% | ||||
| Share Price | 22.2% | 40.9% | 33.8% | -14.9% | ||||
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 % ⓘ | -4.1 | 13 | 25.3 | -85.9 | 9 | 22.6 | 23.8 | 43.2 | 60 | 9.3 | -4.2 |
| Op. Profit Mgn % ⓘ | 3.2 | 6 | 11 | -3.3 | 6.6 | 7.8 | 7.1 | 8.7 | 11.6 | 6.1 | 3.3 |
| Net Profit Mgn % ⓘ | -0.5 | 1.4 | 4.4 | -10.5 | 0.6 | 1.5 | 1.8 | 3.8 | 5.7 | 1.8 | -0.6 |
| Debt to Equity ⓘ | 2.3 | 3.1 | 3.2 | 10.5 | 10.8 | 8.1 | 7 | 5.3 | 1.6 | 2.2 | 0.7 |
| Working Cap Days ⓘ | 202 | 194 | 264 | 267 | 291 | 261 | 242 | 243 | 154 | 208 | 69 |
| Cash Conv. Cycle ⓘ | 83 | 80 | 169 | 183 | 155 | 137 | 153 | 162 | 73 | 116 | -9 |
Debt to equity has declined versus last 3 years average to 2.20
Return on Equity is Poor
Sales growth has been subdued in last 3 years 6.41%
Net Profit has been subdued in last 3 years 7.34%
Sales growth is not so good in last 4 quarters at -4.55%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -0.7 | 6.1 |
| TTM Sales (₹ Cr.) | 1,402 | 1,761 |
| BVPS (₹.) ⓘ | 14.1 | 15.4 |
| Reserves (₹ Cr.) ⓘ | 148 | 161 |
| P/BV ⓘ | 5.12 | 4.72 |
| PE ⓘ | 0.00 | 11.90 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 64.72 / 99.33 |
| All Time Low / High (₹) | 0.86 / 135.65 |
| Market Cap (₹ Cr.) | 815 |
| Equity (₹ Cr.) | 11.3 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 29.5 |
| 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 | 652 | 837 | 585 | 650 | 750 | 870 | 956 | 1,137 | 1,794 | 1,151 |
| Operating Expenses ⓘ | 631 | 787 | 521 | 671 | 700 | 802 | 888 | 1,038 | 1,585 | 1,081 |
| Manufacturing Costs | 64 | 59 | 26 | 58 | 59 | 54 | 57 | 78 | 78 | 83 |
| Material Costs | 485 | 635 | 409 | 527 | 555 | 650 | 739 | 850 | 1,360 | 864 |
| Employee Cost | 60 | 68 | 64 | 65 | 64 | 70 | 69 | 78 | 108 | 95 |
| Other Costs ⓘ | 22 | 26 | 21 | 20 | 23 | 29 | 23 | 32 | 40 | 39 |
| Operating Profit ⓘ | 21 | 50 | 65 | -21 | 50 | 68 | 68 | 99 | 209 | 70 |
| Operating Profit Margin (%) | 3.2% | 6.0% | 11.0% | -3.2% | 6.6% | 7.8% | 7.1% | 8.7% | 11.6% | 6.1% |
| Other Income ⓘ | 3 | 9 | 9 | 3 | 9 | 3 | 6 | 2 | 6 | 33 |
| Interest ⓘ | 15 | 29 | 30 | 29 | 38 | 43 | 43 | 44 | 49 | 44 |
| Depreciation ⓘ | 15 | 16 | 15 | 19 | 15 | 14 | 12 | 11 | 18 | 29 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | -6 | 15 | 28 | -66 | 5 | 14 | 19 | 46 | 148 | 30 |
| Tax ⓘ | -3 | 4 | 2 | 2 | 1 | 0 | 2 | 3 | 45 | 9 |
| Profit After Tax | -3 | 11 | 26 | -68 | 4 | 14 | 17 | 43 | 103 | 21 |
| PAT Margin (%) | -0.5% | 1.3% | 4.4% | -10.5% | 0.6% | 1.6% | 1.8% | 3.8% | 5.7% | 1.8% |
| Adjusted EPS (₹) | -0.3 | 1.0 | 2.3 | -6.1 | 0.4 | 1.2 | 1.5 | 3.9 | 9.2 | 1.9 |
| Dividend Payout Ratio (%) | 0% | 25% | 9% | 0% | 0% | 8% | 13% | 6% | 5% | 13% |
| 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 | 83 | 91 | 114 | 45 | 51 | 64 | 79 | 121 | 221 | 235 |
| Share Capital ⓘ | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 |
| Reserves ⓘ | 72 | 80 | 102 | 34 | 40 | 52 | 68 | 109 | 210 | 224 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 183 | 246 | 324 | 341 | 409 | 415 | 510 | 595 | 305 | 458 |
| Long Term Debt | 81 | 90 | 50 | 11 | 0 | 48 | 70 | 124 | 140 | 84 |
| Short Term Debt | 103 | 156 | 275 | 330 | 409 | 366 | 439 | 471 | 165 | 374 |
| Trade Payables | 233 | 179 | 8 | 268 | 206 | 173 | 117 | 232 | 156 | 185 |
| Others Liabilities ⓘ | 177 | 273 | 218 | 229 | 240 | 202 | 212 | 251 | 279 | 279 |
| Total Liabilities ⓘ | 676 | 789 | 665 | 884 | 907 | 854 | 919 | 1,198 | 961 | 1,157 |
Fixed Assets | ||||||||||
| Gross Block | 478 | 482 | 496 | 510 | 519 | 506 | 508 | 509 | 634 | 689 |
| Accumulated Depreciation | 303 | 318 | 328 | 342 | 362 | 366 | 377 | 387 | 405 | 431 |
| Net Fixed Assetsⓘ | 176 | 164 | 169 | 168 | 157 | 141 | 132 | 122 | 229 | 259 |
| CWIP ⓘ | 2 | 3 | 4 | 1 | 0 | 1 | 3 | 112 | 38 | 79 |
| Investmentsⓘ | 6 | 6 | 6 | 5 | 4 | 4 | 4 | 4 | 4 | 4 |
| Inventories | 422 | 419 | 402 | 590 | 657 | 588 | 635 | 769 | 365 | 485 |
| Trade Receivables | 21 | 143 | 11 | 45 | 28 | 12 | 49 | 89 | 187 | 142 |
| Cash Equivalents | 8 | 7 | 15 | 23 | 3 | 11 | 7 | 8 | 18 | 41 |
| Others Assetsⓘ | 41 | 46 | 58 | 52 | 56 | 97 | 89 | 94 | 120 | 148 |
| Total Assets ⓘ | 676 | 789 | 665 | 884 | 907 | 854 | 919 | 1,198 | 961 | 1,157 |
| 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 ⓘ | 75 | -38 | -13 | 37 | -46 | 45 | -78 | 93 | 394 | -37 |
| PBT ⓘ | -6 | 15 | 28 | -66 | 5 | 14 | 19 | 46 | 148 | 30 |
| Adjustment ⓘ | 30 | 43 | 44 | 48 | 53 | 61 | 55 | 58 | 67 | 72 |
| Changes in Working Capital ⓘ | 52 | -95 | -74 | 55 | -104 | -30 | -152 | -8 | 208 | -120 |
| Tax Paid ⓘ | -1 | -1 | -11 | 0 | -1 | 0 | 0 | -3 | -29 | -19 |
| Cash Flow From Investing Activity ⓘ | -26 | -4 | -20 | -13 | -2 | -1 | -6 | -131 | -48 | -98 |
| Capex | -27 | -5 | -21 | -15 | -3 | -1 | -6 | -132 | -59 | -103 |
| Net Investments | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 1 | 1 | 1 | 0 | 0 | 0 | 1 | 0 | 11 | 5 |
| Cash Flow From Financing Activityⓘ | -60 | 38 | 44 | -15 | 30 | -37 | 79 | 39 | -346 | 131 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | -11 | 48 | 49 | 54 | 13 | -42 |
| Interest Paid ⓘ | -16 | -28 | -31 | -29 | -38 | -43 | -42 | -44 | -48 | -44 |
| Dividend Paid ⓘ | 0 | 0 | -3 | -3 | 0 | 0 | -1 | -2 | -3 | -6 |
| Others ⓘ | -44 | 67 | 78 | 16 | 78 | -42 | 73 | 32 | -308 | 223 |
| Net Cash Flow ⓘ | -10 | -4 | 11 | 8 | -19 | 6 | -5 | 1 | 0 | -5 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -3.83 | 12.98 | 25.39 | -85.76 | 9.01 | 23.99 | 23.85 | 43.31 | 60.57 | 9.33 |
| ROCE (%) | 2.97 | 13.58 | 13.79 | -7.46 | 7.76 | 9.65 | 10.12 | 12.92 | 29.71 | 11.31 |
| Asset Turnover Ratio | 1.29 | 1.42 | 1.04 | 1.03 | 1.01 | 1.15 | 1.26 | 1.23 | 1.8 | 1.21 |
| PAT to CFO Conversion(x) | N/A | -3.45 | -0.5 | N/A | -11.5 | 3.21 | -4.59 | 2.16 | 3.83 | -1.76 | Working Capital Days |
| Receivable Days | 12 | 29 | 37 | 13 | 15 | 7 | 10 | 19 | 26 | 47 |
| Inventory Days | 169 | 148 | 199 | 227 | 252 | 225 | 200 | 197 | 107 | 122 |
| Payable Days | 140 | 118 | 84 | 96 | 156 | 107 | 72 | 75 | 52 | 72 |
Ugar Sugar Works Ltd, established in 1939, is the flagship organization of the Shirgaokar Group of Companies, whose annual revenues exceed Rs 600 crore. The company has been involved in the manufacture of white crystal sugar for over 65 years. Currently, at its Ugar, Jewargi and Bagalkot plants, the compnany is crushing a total of 19,000 tcd of sugarcane daily.
About sixty years ago Ugar Khurd was a small hamlet in the erstwhile princely state of Sangli. The 500 TCD plant was purchased, installed and the first crushing season was started on the 21st of April, 1942.
After a succesful innings, the late V S Shirgaokar then passed on the reins of the group to his younger brother -- Shri Suresh Shirgaokar -- popularly known as ‘Babu Kaka’. Babu Kaka took the organization further ahead and it was under his able leadership that the crushing capacity of the company underwent further expansion(10,000 TCD). Presently, the crushing capacity of the organization is 19,000 TCD.(Ugar, Unit-Jewargi & Bagalkot)
Sooner than later, the company diversified its activities and started its own distillery in the year 1962-63 and then added the liquor section in the year 1967-68. The company produces high quality premium brands like Old Castle Whisky, Gokak Falls Whisky, US Rum, Doctors Brandy, Gagarin Vodka and the company's brands are well accepted by the market.
The company has setup a new distillery plant for producing 45,000 litres rectified spirit including 10,000 litres ENA per day during the year 1994-95 and this plant is running very successfully thereafter. This is in addition to the existing 30,000 litres per day old distillery plant.
The company further diversified and set up a first-in-its-kind-in India co-generation power plant of 44 MW. This was based on the principle of bagasse based renewable sources of energy used as fuel. Out of which 28 MW are being exported to the grid and the rest of the 16 MW are used for captive consumption.
The product range of the company includes:
The main product of the sugar manufacturing process is white crystal sugar. This white crystal sugar is manufactured in the grades of M-30. S-30 and SS-30.
Byproducts
Different divisions of the company:
Group of companies -SB Reshellers Pvt Ltd, Sadashiva Sugars Ltd, Shantaram Mach. Pvt. Ltd, Ugar Quality Packaging Pvt. Ltd, Galaxy Machinery Pvt. Ltd, Ugar Consultancy Ltd, Tara Tiles Pvt Ltd, The Pavilion Hotel, iResearch Services
Awards / Achievements
Future Plans
Expansion plans will take Ugar sugar works to a crushing capacity of 30000 tcd in the season 2010-2011
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
Make an informed decision for Stocks
Invest using an intelligent system with powerful data-driven tools that help you identify opportunities and make informed buy-hold-sell decisions
Buy quality Stocks when they are available at reasonable prices and supported by an upward price trend and Sell when they are Overvalued using the Decizen Rating System. Covers 3500+ stocks
Limited to the first 10 users today!
Practical Stock Investing Hand Book
By - Raymond Moses
Founder of MoneyWorks4Me | Consultant | Trainer | Author | TEDx Speaker
Register & Get Instant Access!Don't miss out! First 10 users today get it FREE
With this 4 hrs Masterclass, you’ll be able to:
Download APP
