Dwarikesh Sugar Industries LimitedDWARKESHCorporate

Sugar Latest results: Mar 2026 9 quarters of data

₹46.38

MCap ₹859 Cr

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₹425 Cr

Sales · Mar 2026

₹87 Cr

Operating Profit · Mar 2026

20.3%

OPM % · Mar 2026

₹57 Cr

Net Profit · Mar 2026

₹3.10

EPS · Mar 2026

📝 Dwarikesh Sugar Industries Limited — results explained

Quarter ended March 2026 (Q4 FY26)

Dwarikesh Sugar Industries Limited reported revenue of ₹425 crore for the quarter ended March 2026 (Q4 FY26).

Net profit stood at ₹57 crore. Earnings per share (EPS) came in at ₹3.10.

Operating profit stood at ₹87 crore — an operating margin (OPM) of 20.3%.

Valuation snapshot

At the current price of ₹46.38, DWARKESH has a market capitalisation of ₹859 crore.

Within the Sugar industry, it is the 11th-largest of the 40 companies we track by market value.

Shareholding pattern

As of Sep 2026, promoters held 42.14%, foreign institutional investors (FIIs) 1.01%, domestic institutional investors (DIIs) 0.10%, the government 0.13%, public shareholders 56.60% of Dwarikesh Sugar Industries Limited.

📈 Share price & events

📊 Quarterly trend

₹ crore · OPM % on right axis

🎯 Key metrics

price-linked ratios use the latest close

Valuation

Market Cap ?

₹859 Cr

Current Price ?

₹46.4

P/E ?

N/A

Industry P/E ?

18.30

P/B ?

1.04

P/S ?

N/A

P/FCF ?

7.04

Enterprise Value ?

₹1,195 Cr

EV/EBITDA ?

N/A

PEG ?

N/A

Earnings Yield ?

N/A

Dividend Yield ?

0.21%

Profitability & Returns

Sales (TTM) ?

N/A

OPM ?

N/A

Profit after tax (TTM) ?

N/A

EPS (TTM) ?

N/A

ROCE ?

5.0%

ROE ?

N/A

ROA ?

N/A

Growth

Sales — latest qtr ?

₹425 Cr

PAT — latest qtr ?

₹57 Cr

YoY qtr sales growth ?

N/A

YoY qtr profit growth ?

N/A

Sales growth (3y) ?

N/A

Sales growth (5y) ?

N/A

Profit growth (3y) ?

N/A

Profit growth (5y) ?

N/A

Financial Health

Debt ?

₹336 Cr

Debt to Equity ?

0.41

Interest Coverage ?

1.7

Current Ratio ?

N/A

Ownership

Promoter holding ?

42.14%

Change in promoter holding ?

0.04%

Pledged percentage ?

N/A

Market

Return 3 months ?

5.2%

Return 6 months ?

-2.2%

🗓️ Quarterly results (9 quarters · ₹ Cr)

same fiscal quarter as Mar bestweakest per row · for costs (interest, NPAs) low is best Highlight

Metric	Dec 2008	Mar 2009	Jun 2009	Sep 2009	Dec 2009	Mar 2010	Jun 2010	Sep 2010	Mar 2026	YoY %	QoQ %
Sales	122	91	154	95	165	159	144	87	425	—	—
Operating Profit	30	31	38	26	50	-1	28	-14	87	—	—
Other Income	0	1	0	0	0	1	1	0	1	—	—
Interest	16	18	16	11	9	11	13	13	6	—	—
Depreciation	9	8	8	8	8	8	8	8	-0	—	—
Profit Before Tax	5	6	14	7	33	-19	7	-35	82	—	—
Net Profit	5	8	14	-1	33	-23	7	-27	57	—	—
EPS	0.28	0.47	0.88	-0.09	2.05	-1.42	0.45	-1.64	3.10	—	—
OPM %	24.6%	34.1%	24.7%	27.4%	30.3%	-0.6%	19.4%	-16.1%	20.3%	—	—

📆 Annual results (₹ Cr, FY = Apr–Mar)

Annual rollup not yet available We need at least 3 quarters of a fiscal year to compute annual figures. This symbol does not yet have a complete fiscal year in our database.

🏛️ Balance Sheet (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Equity Capital	19	19	19	19	+0.0%
Reserves	721	803	788	810	+2.8%
Borrowings	375	456	507	336	-33.7%
Other Liabilities	166	137	149	133	-10.7%
Total Liabilities	1,280	1,415	1,463	1,298	-11.3%
Fixed Assets	582	583	547	528	-3.5%
CWIP	0	0	0	0	—
Investments	0	1	1	1	+0.0%
Other Assets	697	831	915	769	-16.0%
Total Assets	1,280	1,415	1,463	1,298	-11.3%

💧 Cash Flow (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Cash from Operating Activity	314	13	61	129	+111.5%
Cash from Investing Activity	-92	-41	-7	-4	+42.9%
Cash from Financing Activity	-222	27	27	-194	-818.5%
Net Cash Flow	0	-0	81	-69	-185.2%
Free Cash Flow	216	-37	48	122	+154.2%
CFO/OP	160%	19%	64%	159%	+148.4%

➗ Ratios (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Debtor Days	12	8	17	13	-23.5%
Inventory Days	128	222	272	225	-17.3%
Days Payable	13	13	12	3	-75.0%
Cash Conversion Cycle	128	216	277	235	-15.2%
Working Capital Days	60	87	93	109	+17.2%
ROCE %	15%	14%	5%	5%	+0.0%

👥 Shareholding (latest 5 periods)

Metric	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Sep 2026	% Chg
Promoters	42.10%	42.10%	42.10%	42.15%	42.14%	-0.0%
FIIs	1.90%	1.74%	1.68%	1.68%	1.01%	-39.9%
DIIs	0.00%	0.00%	0.11%	0.22%	0.10%	-54.5%
Government	0.13%	0.13%	0.13%	0.13%	0.13%	+0.0%
Public	55.85%	56.03%	55.97%	55.84%	56.60%	+1.4%
No. of Shareholders	1,85,463	1,83,124	1,78,088	1,71,993	1,65,378	-3.8%

⚖️ Peer comparison

Industry: Sugar · top 25 of 40 companies · full page →

#	Company	CMP	MCap (Cr)	P/E	Sales TTM	NP TTM	OPM%	NPM%	Sales YoY%	NP YoY%	Qtr Rev Δ%	Qtr NP Δ%
1	BALRAMCHIN Balrampur Chini	₹688.85	14,576	37.5	6,366	371	11.3%	5.8%	15.8%	-13.4%	6.1%	-14.4%
2	TRIVENI Triveni Engineering	₹239.45	5,277	18.5	7,154	282	7.6%	3.9%	7.5%	13.5%	-18.3%	-4.6%
3	BAJAJHIND Bajaj Hindusthan	₹20.46	4,888	141.9	5,333	116	5.1%	2.2%	-2.2%	614.5%	-9.8%	-6.1%
4	RENUKA Shree Renuka	₹21.77	4,634	—	9,365	-780	0.3%	-8.3%	-15.0%	-164.2%	5.5%	4.6%
5	BANARISUG Bannari Amman	₹3,452.20	4,329	35.6	1,670	122	9.4%	7.3%	6.9%	42.3%	-58.8%	-172.8%
6	DALMIASUG Dalmia Bharat	₹393.10	3,182	15.1	3,526	204	10.7%	5.8%	-3.0%	-38.8%	-9.9%	-82.4%
7	AVADHSUGAR Avadh Sugar	₹753.70	1,509	22.9	2,756	66	8.3%	2.4%	2.2%	-34.8%	8.7%	102.9%
8	GODAVARIB Godavari Biorefineries	₹236.94	1,213	—	2,013	-0	6.0%	-0.0%	6.3%	114.0%	4.7%	-20.7%
9	UTTAMSUGAR Uttam Sugar	₹281.00	1,072	12.8	2,094	84	9.4%	4.0%	17.7%	8.2%	-2.7%	-94.7%
10	DHAMPURSUG Dhampur Sugar	₹152.74	982	14.0	2,232	71	8.2%	3.2%	0.6%	24.2%	50.9%	569.2%
11	DWARKESH Dwarikesh Sugar	₹43.97	815	61.3	1,354	13	4.3%	1.0%	3.1%	30.4%	-11.6%	-185.9%
12	ZUARIIND ZUARI INDUSTRIES	₹263.00	783	0.6	1,100	106	4.3%	9.6%	7.8%	211.1%	21.2%	110.7%
13	DBOL Dhampur Bio	₹113.41	746	8.9	2,503	84	5.6%	3.3%	13.4%	75.0%	74.6%	289.9%
14	MAGADSUGAR Magadh Sugar	₹490.90	692	13.5	1,221	51	10.5%	4.2%	-5.9%	-41.5%	-6.8%	-5593.8%
15	UGARSUGAR Ugar Sugar	₹53.50	602	n/m	1,405	1	-0.3%	0.1%	-30.4%	-96.2%	83.5%	-31.4%
16	MAWANASUG Mawana Sugars	₹125.85	492	17.9	1,586	28	5.6%	1.7%	8.6%	-65.9%	3.8%	-70.5%
17	DAVANGERE Davangere Sugar	₹2.14	363	51.3	249	8	19.4%	3.3%	11.1%	-22.2%	44.2%	-28.0%
18	DCMSRIND DCM Shriram	₹38.68	336	10.3	1,161	33	6.7%	2.8%	-13.5%	-20.1%	-41.1%	-91.3%
19	KCPSUGIND KCP Sugar	₹29.37	336	8.7	279	38	1.3%	13.8%	-16.2%	-21.3%	31.4%	141.5%
20	PONNIERODE Ponni Sugars	₹379.20	326	6.6	447	50	9.4%	11.1%	14.6%	145.8%	53.1%	59.0%
21	532102 SBEC Sugar	₹66.99	305	5.9	528	54	3.0%	10.3%	-12.9%	205.6%	-17.5%	135.2%
22	MVKAGRO M.V.K. Agro	₹57.15	289	6.6	292	44	17.0%	15.1%	—	—	-16.7%	-40.1%
23	KMSUGAR K.M.Sugar Mills	₹28.62	263	5.5	640	48	12.0%	7.5%	-0.9%	50.3%	-8.8%	-40.4%
24	RANASUG Rana Sugars	₹14.82	228	36.5	1,677	6	1.4%	0.4%	1.8%	-40.8%	-12.5%	-715.7%
25	KOTARISUG Kothari Sugars	₹26.45	219	33.1	247	7	-5.3%	2.7%	-20.4%	-36.6%	16.4%	191.3%

❓ Frequently asked questions

What was Dwarikesh Sugar Industries Limited's revenue in Q4 FY26?