DWARKESHFast Moving Consumer Goods

Dwarikesh Sugar Industries Limited

Sugar · ISIN INE366A01041 · BSE 532610 · NSE EQ · FV ₹1
Last price
₹41
-1.24%today
What this company does

Dwarikesh Sugar Industries Limited operates in Sugar, part of the Fast Moving Consumer Goods sector. It booked ₹358 cr of revenue in its latest quarter (Q1 FY27) and kept -7.2% of sales as profit.

In the report:
47out of 100
Equitytale Health Score
Mixed

Healthier than 47% of companies in Fast Moving Consumer Goods, on all six measures of filed financials. Each measure is ranked against the 89–149 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
32

At close. Not part of the score.

Profitability & returns4

How much profit it earns on the money it employs

Balance sheet36

How much it owes, and whether earnings cover the interest

Cash quality87

Whether reported profit actually arrives as cash

Growth & consistency25

Whether sales and profit have grown, and how steadily

Valuation82

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Some things to watch
Strengths
Promoters hold 42%
No promoter shares pledged
Watch-outs
! Currently loss-making
! Thin -7.2% net margin
! Sales down 12% vs last year
! Low -12.4% return on equity

What if I invest in DWARKESH?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 0% a year, it would become
₹12.00 lakh

The slider starts at 0%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹41 -1.24%
latest close · 2026-09-17
1-year return
-43.6%
52-wk low ₹3652-wk high ₹148
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/B ratio0.91Below book
Below bookModerateHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity-12.4%Loss
WeakFairStrong ▸15%
Return on capital-12.9%Loss
WeakFairStrong
Net margin-7.2%Loss
ThinDecentStrong
EBITDA margin-6.6%Loss
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.40Comfortable
LowModerateHigh ▸1
Interest cover-10.5×Risky
RiskyOkayStrong ▸5×
Current ratio2.33Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹751 cr
Book value
₹45
EPS
₹-1.39
latest quarter
Net debt
₹321 cr
owes more than its cash
Enterprise value
₹1,072 cr
EBITDA
₹-95 cr
annualised
EBIT
₹-126 cr
annualised
Operating margin
-8.8%
Return on assets
-7.9%
Earnings yield
P/S
0.52
Sales / share
₹77.3
Tax rate
Face value
₹1
Shares
18.5 cr
Working capital
₹434 cr
Current assets
₹760 cr
Current liabilities
₹326 cr
Delivery %
25.5%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2024 report & filings
not investment advice
Hard to value confidentlyLow confidence
It earns about 7% on its capital — below the ~14% return we'd require to fund it — so a low price is likely justified, not a bargain.
Models span ₹35₹71, midpoint ₹53

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹358 cr
Other Income₹2 cr
Total Income₹360 cr
Cost of Materials₹92.6 L
Purchases of Stock-in-Trade₹4 cr
Inventory Change (±)₹333 cr
Employee Benefit Expense₹25 cr
Finance Costs₹3 cr
Depreciation & Amortisation₹8 cr
Other Expenses₹21 cr
Total Expenses₹394 cr
Profit before Tax₹-34 cr
Tax Expense₹-9 cr
Net Profit₹-26 cr
Net margin on total income-7.1%
Where the money goes · Q1 FY27
% of total spend
Materials + stock-in-trade₹338 cr85.6%
Employee benefit expense₹25 cr6.3%
Finance costs₹3 cr0.8%
Depreciation & amortisation₹8 cr1.9%
Other expenses₹21 cr5.4%
Total income ₹360 cr

The company made a net loss of ₹26 cr this quarter — income covered only 91 of every ₹100 it spent on costs and tax.

Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue325 cr425 cr358 cr
Total income328 cr427 cr360 cr
Expenses301 cr345 cr394 cr
Profit before tax27 cr82 cr-34 cr
Tax11 cr24 cr-9 cr
Net profit (owners' share)15 cr57 cr-26 cr
Net margin (owners' share, on revenue)4.7%13.5%-7.2%
EPS (₹)0.833.10-1.39
YoY (latest quarter): total income -11.3% · net profit
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹1,298 cr
Shareholder equity
₹829 cr
parent shareholders
Total debt
₹334 cr
Cash
₹13 cr
Cash flow · H1 FY26
Operating
₹559 cr
Investing
₹-6 cr
Financing
₹-351 cr
Peer comparison
Sugar · by market value
CompanyPriceMarket capP/E
Bajaj Hindusthan Sugar Limited₹19₹15,563 cr
Balrampur Chini Mills Limited₹676₹14,275 cr78.2
Triveni Engineering & Industries Limited₹232₹5,123 cr341.8
Shree Renuka Sugars Limited₹23₹4,854 cr
Bannari Amman Sugars Limited₹3,303₹4,142 cr
Dalmia Bharat Sugar and Industries Limited₹391₹3,161 cr114.9
Dhampur Bio Organics Limited₹116₹2,039 cr
Avadh Sugar & Energy Limited₹721₹1,443 cr1,502.1
Dhampur Sugar Mills Limited₹152₹976 cr40.4
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.25%
trailing 12 months
Dividend / share (TTM)
₹0.1
Last dividend
₹0.1
ex 30 Jul 2026
ActionDetailEx-date
Dividend₹0.1 / share30 Jul 2026
Dividend₹0.5 / share12 Aug 2025
BuybackBuy Back of Shares20 Mar 2024
Dividend₹2 / share31 Mar 2023
Dividend₹2 / share7 Apr 2022
Dividend₹1.25 / share12 Jul 2021
Who owns it · 2026-06-30
No pledge
Promoter
42.1%
FII / Foreign
1.0%
DII / Domestic
0.8%
Retail / others
56.1%
Smart-money activity
Insider trades
BoughtGAUTAM R MORARKA · Promoters12,500 · ₹4.9 L20 Mar 26
BoughtGAUTAM R MORARKA · Promoters70,654 · ₹25.7 L17 Mar 26
BoughtMorarka Investments Private Limited · Promoter Group11,370 · ₹8.5 L4 Sep 24
Bulk / block deals
SoldHRTI PRIVATE LIMITED · NSE11.51 L @ ₹52.5131 Aug 26
BoughtHRTI PRIVATE LIMITED · NSE11.11 L @ ₹52.4731 Aug 26
SoldHRTI PRIVATE LIMITED · NSE9.80 L @ ₹53.8826 Aug 26
Stake changes
BoughtGautam Radheshyam Morarka · promoter→ 15.22% · 12,50021 Mar 26
BoughtGautam Radheshyam Morarka · promoter→ 15.21% · 70,65417 Mar 26
BoughtMorarka Investments Private Limited · promoter→ 0.02% · 11,3705 Sep 24
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 12 Dec 2025
See the official result
1
To approve the re-appointment of Shri Rajan Krishnanath Medhekar (DIN: 07940253) as a Non-Executive Independent Director of the Company.
Backed by 99% of shareholders other than promotersneeded 75%
20.57 L votes for, 14,353 against · 0% of mutual funds and other big investors said no
2
To approve the re-appointment of Shri Gopal Bhimrao Hosur (DIN: 08884883) as a Non-Executive Independent Director of the Company.
Backed by 99% of shareholders other than promotersneeded 75%
20.55 L votes for, 17,006 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 8 named members
owning 42.1% between them · as of 2026-06-30
GAUTAM RADHESHYAM MORARKA15.22%
DWARIKESH TRADING COMPANY LTD13.94%
MORARKA FINANCE LTD11.47%
PRANAY GAUTAM MORARKA0.66%
SMRITI GAUTAM MORARKA0.53%
PRIYANKA GAUTAM MORARKA0.27%
GAUTAM R MORARKA HUF0.03%
MORARKA TRADING PRIVATE LIMITED0.02%

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.