Arthneeti

Dalmia Bharat Sugar & Industries Share Price & Earnings Call Analysis

₹414.90+1.75% today
Market cap
₹3,358 Cr
P/E
16.36
ROE
7.30%
PEG
-7.27
Price to sales
0.96
Debt to equity
0.56
52W high / low
₹508 / ₹264
Sales growth (5Y)
6.14%
EBITDA margin
10.75%
Net profit margin
6.33%
Promoter holding
74.92%
Sales (last year)
₹3,525 Cr

Dalmia Bharat Sugar & Industries is mainly engaged in manufacturing of sugar, generation of power, manufacturing of Industrial alcohol and manufacturing of refractory products.[1]The company is among the youngest and largest sugar companies in India. Its is the fastest-growing sugar company with its presence in UP and Maharashtra.

Potential multibaggers · Q2 FY27

Potential multibaggers in Agricultural Food & other Products
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Dalmia Bharat rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Agricultural Food & other Products companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 0–2%₹890 Cr13.7
240%+Up 0–2%₹125 Cr6.8
340%+Flat₹22 Cr9.0
420–40%Up 2%+₹221 Cr15.1
520–40%Up 2%+₹185 Cr17.4
620–40%Up 0–2%₹2,130 Cr27.1

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Dalmia Bharat announcements

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Financials of Dalmia Bharat

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Dalmia Bharat

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +74.92%74.92%74.92%74.92%74.92%74.92%74.92%74.92%74.92%74.92%74.92%74.92%
FIIs +1.07%1.03%0.96%1.02%0.89%0.75%1.08%0.97%0.70%0.72%0.52%0.89%
DIIs +0.08%0.09%0.09%0.05%0.05%0.05%0.05%0.05%0.09%0.12%0.27%0.33%
Government +0.16%0.16%0.16%0.16%0.16%0.16%0.16%0.16%0.16%0.16%0.16%0.16%
Public +23.78%23.81%23.87%23.85%23.99%24.11%23.77%23.89%24.12%24.07%24.13%23.70%
No. of Shareholders45,07047,02647,90645,95345,93446,07643,98146,42746,54345,64646,45342,927

Financials of Dalmia Bharat

Quarterly Results

Quarter-by-quarter operating performance

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales +833.89731.85583.59750.04960.26926.39837.671,015.52940.88988.72697.75990.73848.19
YoY Sales growth-2.73%-34.72%+15.15%+26.58%+43.54%+35.40%-2.02%+6.73%-16.70%-2.44%-9.85%
Expenses +715.41666.36474.35631.32849.06860.84736.50818.47851.17932.49588.31820.58804.90
Operating Profit118.4865.49109.24118.72111.2065.55101.17197.0589.7156.23109.44170.1543.29
OPM %14.21%8.95%18.72%15.83%11.58%7.08%12.08%19.40%9.53%5.69%15.68%17.17%5.10%
Other Income +9.1555.6526.5337.2015.5715.9818.8916.2710.9419.7228.6934.3327.52
Interest9.8716.387.8615.9825.9611.659.2516.2115.9710.2312.2324.9526.58
Depreciation30.5630.7432.2633.4025.8131.9935.2537.6132.0234.4632.9536.8734.40
Profit before tax87.2074.0295.65106.5475.0037.8975.56159.5052.6631.2692.95142.669.83
Tax %29.66%25.83%32.13%14.29%27.03%-74.66%21.51%-24.61%25.45%25.40%25.16%27.44%29.70%
Net Profit +61.3454.9064.9291.3254.7366.1859.31198.7639.2623.3269.56103.526.91
EPS in Rs7.586.798.0211.296.778.187.3324.574.852.888.6112.910.95

Financials of Dalmia Bharat

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +1,1501,1661,6862,2442,0182,1102,6853,0183,2522,8993,7253,6173,525
Sales growth-3%+1%+45%+33%-10%+5%+27%+12%+8%-11%+28%-3%-5%
Expenses +1,0379391,3082,0101,7811,7742,2032,5722,8152,4873,2473,1923,146
Operating Profit113227378234237337482446437412478426379
OPM %10%19%22%10%12%16%18%15%13%14%13%12%11%
Other Income +1622242575564464771286094110
Interest788710269698862353850636374
Depreciation51113565452579695121127131136139
Profit before tax047244136192247368380355363345320277
Tax %-414%-23%24%10%9%22%27%22%30%25%-6%26%
Net Profit +158186122175193270296250272366236203
EPS in Rs0.187.2223.0215.1221.6523.8833.4236.5630.9133.6845.1829.2625.35
Dividend Payout %0%8%9%13%7%8%9%11%13%15%13%21%

Financials of Dalmia Bharat

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital161616161616161616161616
Reserves4444961,2451,4881,5161,5032,1262,3432,6892,9163,0473,226
Borrowings +9311,1381,2147761,0371,2779588194541,4301,0441,803
Other Liabilities +443411459633621642632645644800541475
Total Liabilities1,8342,0612,9352,9133,1893,4383,7333,8223,8035,1624,6485,521
Fixed Assets +7467521,2801,2931,3161,3531,3081,5311,6521,8471,6571,784
CWIP2872711627592113318647
Investments84943666264173596205947366295831,339
Other Assets +9761,2081,2879871,4451,7201,7771,6391,3932,5542,2232,352
Total Assets1,8342,0612,9352,9133,1893,4383,7333,8223,8035,1624,6485,521

Financials of Dalmia Bharat

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +-11-24155706-22059346567583-239410219
Cash from Investing Activity +-43-77-144-178-29-17937-327-192-257-113-843
Cash from Financing Activity +421122-528219145-364-217-419902-480664
Net Cash Flow-1311131-31251823-29405-18241
Free Cash Flow-61-11083635-327-31274234365-60626795
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit-28%-7%53%321%-75%31%73%140%162%-38%86%68%

Financials of Dalmia Bharat

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days253324123729162017151218
Inventory Days310476367161284345274213163329221233
Days Payable1331256292109102544533712621
Cash Conversion Cycle20238432981212272237188147273207230
Working Capital Days45017-25544647181459946
ROCE %5%8%17%9%10%12%15%13%12%10%10%8%
33out of 100

Momentum score · price trend

33 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+18.5%73%
Last 6 months+2.3%58%
Last 3 months−1.0%66%

The price is 28.1% below its all-time high of ₹567.49 (4 Oct 2024). Stocks more than 20% below their peak have their score halved, so 66 became 33.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Dalmia Bharat: 0.4 × 73 + 0.4 × 58 + 0.2 × 66 = 66, halved to 33 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

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