Arthneeti

Dwarikesh Sugar Industries Q2 FY27 Share Price & Earnings Call Analysis

₹45.70+6.35% today
Market cap
₹848 Cr
P/E
24.95
ROE
3.77%
PEG
-0.74
Price to sales
0.63
Debt to equity
0.15
52W high / low
₹55.4 / ₹32.5
Sales growth (5Y)
-5.28%
EBITDA margin
6.15%
Net profit margin
2.20%
Promoter holding
42.15%
Sales (last year)
₹1,365 Cr

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.[1] It is also a bio-energy company with supporting businesses of sugar manufacture and power co-generation.

Guidance scorecard · Q2 FY27 call

What Dwarikesh Sugar's management guided
and where it ranks in Agricultural Food & other Products

Revenue0–10%MarginsFlatCapexNone plannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ3 FY25 call

0–10%
  • Crushing volumes for the current season (2024-2025) are expected to face challenges due to lingering issues like red-rot; precise forecasting is difficult at this stage.
  • Significant improvement in crushing volumes and production anticipated in the 2025-2026 season owing to changes in varietal mix.
  • Ethanol production is expected to be around 7 crore liters, with current year estimates at approximately 5 to 5.5 crore liters.
  • Positive impact on revenue expected from the government's approval to export 1 million tonnes of sugar, which should support sugar prices and improve cash flows.
  • Anticipated increase in ethanol procurement prices will likely boost profitability and revenue in the medium term.

2 more points from Dwarikesh Sugar's call on revenue

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Full Q3 FY25 analysis

MarginsQ3 FY25 call

Flat

See what Dwarikesh Sugar said on margins — free account, 30 seconds.

Full Q3 FY25 analysis

CapexQ3 FY25 call

None planned
  • The management's primary focus currently is on returning to regular crushing activities and addressing the red-rot menace affecting sugarcane yield.
  • Efforts are concentrated on improving varietal mix to overcome crop challenges rather than on major capital expenditure.
  • The company is committed to financial discipline and cost rationalization.
Full Q3 FY25 analysis

FundraisingQ3 FY25 call

See what Dwarikesh Sugar said on fundraising — free account, 30 seconds.

Full Q3 FY25 analysis

Order bookQ3 FY25 call

Ask what Dwarikesh Sugar said on the order book →

Full Q3 FY25 analysis
Full Agricultural Food & other Products ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

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 Dwarikesh Sugar rank?

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

Dwarikesh Sugar Industries latest results (Sep 2026)

Revenue

₹257 Cr

+4% YoY

Net profit

₹-13 Cr

Operating margin

-6%

EPS

₹-0.71

What management said on the call →

Dwarikesh Sugar Industries shareholding (Sep 2026)

Promoters

42.15%

unchanged QoQ

FIIs

1.01%

unchanged QoQ

DIIs

0.10%

−0.65 pp QoQ

Public

56.61%

+0.66 pp QoQ

Full shareholding pattern →Dividend history →

Peers

Agricultural Food & other Products companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹2,344 Cr29.8
240%+Up 0–2%₹916 Cr14.1
340%+Up 0–2%₹131 Cr6.6
440%+Flat₹25 Cr13.1
520–40%Up 2%+₹13,919 Cr33.2
620–40%Up 2%+₹227 Cr14.2

Sign up free to see every company in the sector ranking and track Dwarikesh Sugar.

Pro shows every company guiding 40%+ revenue growth →Full Agricultural Food & other Products ranking

Financials of Dwarikesh Sugar

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

Shareholder Pattern

Dwarikesh Sugar

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +42.09%42.09%42.09%42.10%42.10%42.10%42.10%42.10%42.10%42.15%42.15%42.15%
FIIs +3.97%4.36%3.85%2.31%1.64%2.00%1.90%1.74%1.68%1.68%1.01%1.01%
DIIs +0.07%0.00%0.00%0.00%0.00%0.03%0.00%0.00%0.11%0.22%0.75%0.10%
Government +0.13%0.13%0.13%0.13%0.13%0.13%0.13%0.13%0.13%0.13%0.13%0.13%
Public +53.75%53.42%53.92%55.45%56.13%55.73%55.85%56.03%55.97%55.84%55.95%56.61%
No. of Shareholders1,78,4922,02,6452,00,0361,95,4551,93,0851,90,1891,85,4631,83,1241,78,0881,71,9931,69,8881,65,378

Financials of Dwarikesh Sugar

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +446313380341246313459405246325425358257
YoY Sales growth-18%-18%-29%-40%-45%-0%+21%+19%-0%+4%-7%-12%+4%
Expenses +417287307339269286352402287287339384271
Operating Profit2926732-23271074-413887-26-15
OPM %6%8%19%0.7%-9%9%23%1.0%-17%12%20%-7%-6%
Other Income +3621240023126
Interest4476338521631
Depreciation13141312121212121212-087
Profit before tax151456-15-361688-13-532782-34-18
Tax %31%31%59%-35%-33%32%47%-28%-38%42%30%-25%-25%
Net Profit +101023-10-241146-9-331557-26-13
EPS in Rs0.540.521.22-0.53-1.300.582.50-0.51-1.760.833.10-1.39-0.71

Financials of Dwarikesh Sugar

Profit & Loss

Annual income statement trend

Mar 2015 18mMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +1,1287941,1901,4301,0841,3361,8391,9792,1031,7101,3591,4021,365
Sales growth+22%-30%+50%+20%-24%+23%+38%+8%+6%-19%-21%+3%-4%
Expenses +1,0436869171,2879551,2001,6381,6881,8881,5051,2451,3151,281
Operating Profit861082731421291362012912152051138784
OPM %8%14%23%10%12%10%11%15%10%12%8%6%6%
Other Income +101318173657314126712
Interest75525225213348322620191512
Depreciation47313032333741445052493728
Profit before tax-273920910211172120219152144524357
Tax %-37%1%25%1%14%-3%24%29%31%42%56%27%
Net Profit +-173915610195739215510584233134
EPS in Rs-1.032.398.295.395.053.904.868.245.564.441.261.661.83
Dividend Payout %-0%-0%12%-0%20%26%26%24%36%-0%40%6%

Financials of Dwarikesh Sugar

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital16161919191919191919191919
Reserves5670267347445465560654721803788810770
Borrowings +655687533342656846609524375456507336117
Other Liabilities +271229200276246279257222166137149133109
Total Liabilities9991,0011,0199841,3651,6091,4451,4201,2801,4151,4631,2981,014
Fixed Assets +399356331341319430410388582583547528515
CWIP00101621142-00-0-02
Investments0000000001111
Other Assets +6006446876421,0291,1771,035889697831915769498
Total Assets9991,0011,0199841,3651,6091,4451,4201,2801,4151,4631,2981,014

Financials of Dwarikesh Sugar

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 +-15137141298-250112963393141361129
Cash from Investing Activity +-4-13-5-41-44-111-18-198-92-41-7-4
Cash from Financing Activity +154-20-140-256292101-280-141-2222727-194
Net Cash Flow-14-42-21-200-081-69
Free Cash Flow-15524136257-298-100276178216-3748122
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit-176%34%66%240%-178%19%147%129%160%19%64%159%

Financials of Dwarikesh Sugar

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days1430171420271361281613
Inventory Days195333286172388330223191128222272231
Days Payable80893670867549241313124
Cash Conversion Cycle129273267116322281187173128216276240
Working Capital Days-40-11211071525653608793109
ROCE %8%11%32%17%14%9%13%21%15%14%5%5%

Guidance history

How Dwarikesh Sugar's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q3 FY25 call →0–10%FlatNone planned——
Q2 FY25 call →0–10%FlatPlanned——
Q1 FY25 call →0–10%Flat———
Q3 FY24 call →0–10%FlatNone planned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

32out of 100

Momentum score · price trend

32 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 1,937 stocks
Last 12 months+9.7%63%
Last 6 months+8.1%59%
Last 3 months+6.4%73%

The price is 67.4% below its all-time high of ₹140.1 (22 Apr 2022). Stocks more than 20% below their peak have their score halved, so 63 became 32.

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 (1,937 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 Dwarikesh Sugar: 0.4 × 63 + 0.4 × 59 + 0.2 × 73 = 63, halved to 32 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 13 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.

Dwarikesh Sugar Industries: frequently asked questions

What is Dwarikesh Sugar Industries share price today?

Dwarikesh Sugar Industries last traded at ₹45.7, with a market capitalisation of ₹848 Cr and a P/E ratio of 24.9.

What were Dwarikesh Sugar Industries's latest quarterly results?

For the quarter ended Sep 2026, Dwarikesh Sugar Industries reported revenue of ₹257 Cr (+4% year on year) and net profit of ₹-13 Cr, with an operating margin of -6%.

Is Dwarikesh Sugar Industries's profit growing?

Net profit was ₹-13 Cr in Sep 2026 against ₹-33 Cr in Sep 2025.

What is Dwarikesh Sugar Industries's EPS?

Dwarikesh Sugar Industries's earnings per share for the quarter ended Sep 2026 was ₹-0.71.

What is the promoter holding in Dwarikesh Sugar Industries?

Promoters held 42.15% of Dwarikesh Sugar Industries in Sep 2026 (unchanged versus Jun 2026).

How much do FIIs and DIIs hold in Dwarikesh Sugar Industries?

In Sep 2026, foreign institutional investors held 1.01% and domestic institutions (including mutual funds) held 0.10% of Dwarikesh Sugar Industries.

What is Dwarikesh Sugar Industries's ROE and ROCE?

Dwarikesh Sugar Industries's return on equity is 3.77% and its return on capital employed is 4.62%.

Does Dwarikesh Sugar Industries pay a dividend?

Yes. Dwarikesh Sugar Industries's dividend yield is 0.23% at the current price. The full payout history is on the Dwarikesh Sugar Industries dividends page.

Which sector does Dwarikesh Sugar Industries belong to?

Dwarikesh Sugar Industries is in the Agricultural Food & other Products sector. Its peer comparison and sector ranking are on this page.

What did Dwarikesh Sugar Industries's management say on the latest earnings call?

Arthneeti's analysis of the Q2 FY27 earnings call covers revenue, margins, capex and fundraising guidance from Dwarikesh Sugar Industries's management.

How does Arthneeti AI analyse Dwarikesh Sugar Industries?

Arthneeti reads Dwarikesh Sugar Industries's earnings call transcripts and filings and scores revenue growth, margins, capex and fundraising, then ranks the company against its sector.

Continue your research

What Dwarikesh Sugar's management said in earlier quarters

Earlier calls (8)

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