DAVANGERE

Davangere Sugar Company Limited

Sugar and allied products manufacturer with sugar and co-generation segments

Fast Moving Consumer Goods›Fast Moving Consumer Goods›Diversified FMCG›Diversified FMCG

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Key metrics

Price as of 2026-10-16

Stock price
₹2.06
Market cap
349 Cr
Stock P/E
36.2
P/B
0.58
ROE (FY26)
1.7%
ROCE (FY26)
5.1%
Operating margin (FY26)
15.0%
Debt / equity (FY26)
0.50
OCF / EBITDA (FY26)
-145.5%
OCF / EBITDA (3Y)
-58.5%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Davangere Sugar produces sugar, ethanol and power from sugarcane at its integrated plant in Kukkuwada, Karnataka.

Company snapshot

4thBy market cap

Ranked among 4 companies in Diversified FMCG.

Segment mix

Reportable segments as of 2024-12-31 (Standalone). Revenue share = segment revenue ÷ total revenue.

Largest segment: 47.1% of revenue

SegmentRevenue shareRevenuePBTAssets
Aviation
2.5%
2 Cr0.20 Cr3 Cr
Co Generation
6.1%
4 Cr0.18 Cr112 Cr
Distellery
47.1%
34 Cr31 Cr233 Cr
Others
0.6%
0.41 Cr0 Cr0 Cr
Sugar
44.3%
32 Cr-17 Cr415 Cr

What we see

Concerns
  • ✗Over the last three years operations used more cash than they brought in, despite an operating profit — the business is not yet turning its profit into cash.
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Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Standalone only

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales27 Cr78 Cr64 Cr46 Cr39 Cr73 Cr57 Cr24 Cr48 Cr83 Cr84 Cr35 Cr
Operating expenses (approx.)15 Cr62 Cr53 Cr36 Cr25 Cr55 Cr47 Cr13 Cr33 Cr69 Cr75 Cr24 Cr
EBITDA11 Cr16 Cr11 Cr9 Cr15 Cr18 Cr10 Cr11 Cr15 Cr13 Cr8 Cr11 Cr
OPM %42.7%20.3%16.8%20.8%37.2%24.9%17.0%47.3%31.9%16.2%10.1%32.1%
Other income0.32 Cr0.53 Cr2 Cr0.35 Cr0.45 Cr0.41 Cr0.57 Cr0.46 Cr0.58 Cr0.62 Cr0.67 Cr0.49 Cr
Interest7 Cr7 Cr5 Cr5 Cr10 Cr8 Cr4 Cr7 Cr9 Cr6 Cr5 Cr7 Cr
Depreciation3 Cr3 Cr3 Cr3 Cr3 Cr3 Cr4 Cr3 Cr3 Cr3 Cr3 Cr3 Cr
Profit before tax2 Cr7 Cr5 Cr1 Cr2 Cr7 Cr2 Cr2 Cr3 Cr5 Cr1 Cr1 Cr
Tax %37.2%18.8%1.0%31.0%28.2%9.3%13.6%24.4%21.1%42.0%-38.5%26.7%
Net profit0.97 Cr6 Cr5 Cr0.94 Cr1 Cr7 Cr2 Cr1 Cr3 Cr3 Cr2 Cr0.94 Cr
EPS (₹)₹0.10₹0.60₹0.48₹0.10₹0.14₹0.72₹0.22₹0.14₹0.18₹0.01₹0.01₹0.01

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales145 Cr124 Cr280 Cr217 Cr215 Cr239 CrSign in free for the trailing twelve months
Operating expenses (approx.)119 Cr90 Cr224 Cr171 Cr163 Cr190 CrSign in free for the trailing twelve months
EBITDA25 Cr34 Cr56 Cr45 Cr52 Cr49 CrSign in free for the trailing twelve months
OPM %17.5%27.7%19.9%20.9%24.2%20.4%Sign in free for the trailing twelve months
Other income3 Cr0.23 Cr0.64 Cr6 Cr2 Cr2 CrSign in free for the trailing twelve months
Interest17 Cr19 Cr27 Cr25 Cr28 Cr27 CrSign in free for the trailing twelve months
Depreciation9 Cr9 Cr12 Cr12 Cr13 Cr13 CrSign in free for the trailing twelve months
Profit before tax3 Cr7 Cr18 Cr14 Cr13 Cr11 CrSign in free for the trailing twelve months
Tax %22.3%14.8%25.3%15.3%14.9%22.6%Sign in free for the trailing twelve months
Net profit2 Cr6 Cr13 Cr12 Cr11 Cr9 CrSign in free for the trailing twelve months
EPS (₹)₹0.45₹1.02₹1.48₹1.30₹1.15₹0.05Sign in free for the trailing twelve months
Dividend payout %0.0%0.0%0.0%0.0%0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital0.0006 Cr56 Cr94 Cr94 Cr94 Cr143 Cr
Reserves190 Cr196 Cr218 Cr246 Cr256 Cr362 Cr
Borrowings122 Cr241 Cr245 Cr264 Cr271 Cr250 Cr
Other liabilities71 Cr101 Cr40 Cr78 Cr122 Cr84 Cr
Total liabilities439 Cr594 Cr597 Cr682 Cr743 Cr839 Cr
Fixed assets (net)271 Cr346 Cr350 Cr359 Cr349 Cr337 Cr
CWIP0 Cr0 Cr0 Cr0 Cr——
Investments2 Cr8 Cr4 Cr5 Cr5 Cr5 Cr
Loans & advances70 Cr80 Cr123 Cr155 Cr192 Cr225 Cr
Inventories42 Cr116 Cr92 Cr122 Cr145 Cr210 Cr
Trade receivables32 Cr36 Cr21 Cr18 Cr29 Cr35 Cr
Cash & bank17 Cr8 Cr3 Cr3 Cr3 Cr7 Cr
Other assets4 Cr—4 Cr20 Cr20 Cr20 Cr
Total assets439 Cr594 Cr597 Cr682 Cr743 Cr839 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity6 Cr-68 Cr81 Cr-11 Cr-4 Cr-71 Cr
Cash from investing-0.93 Cr-85 Cr-20 Cr-23 Cr3 Cr-0.97 Cr
Cash from financing6 Cr144 Cr-65 Cr32 Cr0.74 Cr51 Cr
Net cash flow10 Cr-9 Cr-5 Cr-1 Cr-0.03 Cr-20 Cr
Free cash flow (OCF − Capex)5 Cr-152 Cr61 Cr-33 Cr-4 Cr-71 Cr

Ratios

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %5.4%5.2%8.0%6.6%6.6%5.1%
ROE %1.0%2.3%4.2%3.6%3.1%1.7%
Debtor days8010428314953
Inventory days107324244414394507
Days payable01141747738
Cash conversion cycle187418231371366522
OCF / EBITDA %21.7%-197.9%144.8%-23.6%-7.6%-145.5%
OCF / EBITDA % (3 years)——15.7%1.4%43.2%-58.5%
Debt / equity0.500.960.780.780.770.50
Current ratio1.871.551.381.331.431.96
Net debt / EBITDA4.156.794.335.755.145.01