Ugar Sugar Works

NSE: UGARSUGAR · Sugar

52W Range₹34 ₹49

Snapshot

Unlock Ugar Sugar Works's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

The Ugar Sugar Works Limited is an integrated sugar manufacturer based in Belgaum, India, producing sugar, industrial and potable alcohol, and confectionery. The company also generates electricity and processes various byproducts such as bagasse, molasses, and potash.

Business Model

The company operates a diversified business model leveraging sugarcane processing to generate revenue from sugar, distillery products, and power generation. It captures value across the supply chain by converting byproducts into industrial inputs and consumer-facing liquor brands.

Growth Outlook

Growth is primarily driven by the expansion of distillery capacities, particularly ethanol production, and the sustained demand for its branded liquor portfolio. The company continues to optimise its power generation and byproduct utilisation to improve operational margins.

Key Risks

  • Regulatory Risk. The sugar industry is subject to significant government intervention regarding pricing, export quotas, and ethanol blending mandates.
  • Commodity Price Volatility. Fluctuations in global sugar prices and domestic sugarcane procurement costs directly impact the company's profitability.
  • Climatic Dependency. As an agro-based industry, the company's production volumes are highly sensitive to monsoon patterns and sugarcane crop yields.
  • Regulatory Compliance. The production and sale of potable alcohol are governed by stringent state-level excise laws and licensing requirements.

Price

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Key Metrics

REVENUE

₹1,515 Cr

TTM · standalone

+7.7%YoY

NET PROFIT

₹14 Cr

TTM · standalone

+183.5%YoY

EPS

₹6.93

TTM · standalone

+577.9%YoY

RETURN ON EQUITY

5.8%

TTM · standalone

+12.7 ppYoY

RETURN ON CAPITAL EMPLOYED

23.8%

TTM · standalone

+15.9 ppYoY

P/E

5.7x

Q4 FY26 · standalone

5.7 vs 4.7x5Y avg

EV/EBITDA

10.0x

Q4 FY26 · standalone

10.0 vs 9.0x5Y avg

EBITDA MARGIN

7.3%

TTM · standalone

+3.5 ppYoY

NET PROFIT MARGIN

11.5%

Q4 FY26 · standalone

+1.8 ppYoY

DEBT TO EQUITY

2.9x

Q4 FY26 · standalone

+0.67xYoY

Peers · Sugar

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Ugar Sugar WorksUGARSUGAR
4165.7310.027.7%7.3%5.8%23.8%-19.1%
Dwarikesh SugarDWARKESH
71226.1511.973.2%6.7%3.8%5.8%-10.7%
Zuari IndustriesZUARIIND
6617.3218.3817.3%2.3%2.1%-1.9%
Dhampur BioDBOL
64510.357.6916.4%7.3%27.0%51.9%+8.8%
Magadh SugarMAGADSUGAR
6178.617.92-5.9%14.4%10.0%13.7%-22.2%
DCM Shriram IndsDCMSRIND
4337.155.69-24.1%8.3%6.4%10.7%-77.2%

As of Q4 FY26

Financials