MAWANASUG

Mawana Sugars Limited

Integrated sugar, distillery and co-generation producer

Fast Moving Consumer Goods›Fast Moving Consumer Goods›Agricultural Food & other Products›Sugar

mawanasugars.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹169.05
Market cap
662 Cr
Stock P/E
24.0
P/B
1.26
Dividend yield
0.6%
ROE (FY26)
7.1%
ROCE (FY26)
7.6%
Operating margin (FY26)
4.7%
Debt / equity (FY26)
0.80
OCF / EBITDA (FY26)
70.0%
OCF / EBITDA (3Y)
7.2%

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

Mawana Sugars makes sugar and runs power-generation and distillery businesses alongside it.

Company snapshot

14thBy market cap

Ranked among 27 companies in Sugar.

Segment mix

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

Largest segment: 102.0% of revenue

SegmentRevenue shareRevenuePBTAssets
Distillery
11.0%
122 Cr3 Cr—
Power
10.6%
116 Cr-2 Cr—
Sugar
102.0%
1,126 Cr23 Cr—

Shares add up to 124% because segment revenues are before inter-segment eliminations.

What we see

Concerns
  • ✗Net margin is very thin at 2.4% — little room for error if costs rise.
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Statement tables · Consolidated

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

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
Sales381 Cr326 Cr322 Cr387 Cr383 Cr334 Cr343 Cr401 Cr429 Cr367 Cr374 Cr416 Cr
Operating expenses (approx.)409 Cr285 Cr241 Cr372 Cr393 Cr305 Cr254 Cr401 Cr439 Cr339 Cr287 Cr432 Cr
EBITDA-29 Cr41 Cr81 Cr15 Cr-10 Cr29 Cr89 Cr-0.59 Cr-10 Cr28 Cr88 Cr-17 Cr
OPM %-7.5%12.6%25.3%3.8%-2.7%8.7%25.9%-0.1%-2.4%7.6%23.4%-4.0%
Other income26 Cr0.44 Cr0.49 Cr0.66 Cr0.43 Cr3 Cr5 Cr0.73 Cr0.36 Cr1 Cr2 Cr0.68 Cr
Interest7 Cr3 Cr10 Cr13 Cr8 Cr1 Cr7 Cr11 Cr4 Cr0.52 Cr6 Cr8 Cr
Depreciation8 Cr9 Cr10 Cr8 Cr8 Cr9 Cr9 Cr7 Cr7 Cr8 Cr8 Cr7 Cr
Profit before tax-18 Cr29 Cr63 Cr-6 Cr-27 Cr83 Cr78 Cr-18 Cr-22 Cr5 Cr84 Cr-31 Cr
Tax %37.5%39.5%24.9%21.2%23.9%12.9%21.4%25.4%25.4%28.0%25.3%25.2%
Net profit-11 Cr18 Cr47 Cr-5 Cr-20 Cr73 Cr62 Cr-14 Cr-16 Cr4 Cr63 Cr-23 Cr
EPS (₹)₹-2.92₹4.50₹12.94₹-1.17₹-5.16₹18.54₹15.77₹-3.46₹-4.12₹1.01₹16.06₹-5.90

Profit & loss (annual)

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

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,270 Cr1,342 Cr1,158 Cr1,396 Cr1,469 Cr1,478 Cr1,482 Cr1,355 Cr1,446 Cr1,571 CrSign in free for the trailing twelve months
Operating expenses (approx.)1,104 Cr1,299 Cr1,042 Cr1,324 Cr1,372 Cr1,372 Cr1,405 Cr1,264 Cr1,324 Cr1,466 CrSign in free for the trailing twelve months
EBITDA166 Cr43 Cr116 Cr72 Cr96 Cr106 Cr77 Cr91 Cr122 Cr105 CrSign in free for the trailing twelve months
OPM %13.1%3.2%10.0%5.1%6.6%7.2%5.2%6.7%8.4%6.7%Sign in free for the trailing twelve months
Other income9 Cr12 Cr11 Cr9 Cr3 Cr4 Cr3 Cr28 Cr9 Cr4 CrSign in free for the trailing twelve months
Interest51 Cr38 Cr24 Cr25 Cr35 Cr26 Cr28 Cr30 Cr30 Cr22 CrSign in free for the trailing twelve months
Depreciation30 Cr24 Cr33 Cr66 Cr48 Cr40 Cr36 Cr35 Cr34 Cr31 CrSign in free for the trailing twelve months
Profit before tax443 Cr7 Cr69 Cr-10 Cr101 Cr38 Cr15 Cr53 Cr129 Cr50 CrSign in free for the trailing twelve months
Tax %19.0%-32.8%41.2%-714.5%27.6%31.0%13.8%29.0%15.4%25.5%Sign in free for the trailing twelve months
Net profit359 Cr10 Cr40 Cr-83 Cr73 Cr26 Cr13 Cr38 Cr109 Cr37 CrSign in free for the trailing twelve months
EPS (₹)₹91.78₹2.46₹10.31₹-21.20₹18.73₹6.69₹3.36₹9.63₹27.97₹9.48Sign in free for the trailing twelve months
Dividend payout %————0.0%44.9%89.3%31.2%25.0%10.5%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 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital39 Cr39 Cr39 Cr39 Cr39 Cr39 Cr39 Cr39 Cr39 Cr39 Cr
Reserves292 Cr302 Cr342 Cr257 Cr331 Cr345 Cr345 Cr371 Cr453 Cr486 Cr
Borrowings143 Cr99 Cr177 Cr361 Cr246 Cr416 Cr382 Cr568 Cr418 Cr420 Cr
Other liabilities689 Cr666 Cr849 Cr816 Cr765 Cr251 Cr267 Cr201 Cr186 Cr178 Cr
Total liabilities1,163 Cr1,105 Cr1,408 Cr1,474 Cr1,380 Cr1,051 Cr1,033 Cr1,179 Cr1,096 Cr1,123 Cr
Fixed assets (net)321 Cr313 Cr296 Cr296 Cr231 Cr211 Cr196 Cr203 Cr189 Cr178 Cr
CWIP4 Cr8 Cr8 Cr1 Cr13 Cr3 Cr16 Cr0.55 Cr0.32 Cr0.86 Cr
Investments——15 Cr13 Cr10 Cr4 Cr3 Cr3 Cr0 Cr0 Cr
Inventories472 Cr469 Cr792 Cr854 Cr805 Cr700 Cr688 Cr878 Cr821 Cr804 Cr
Trade receivables41 Cr51 Cr37 Cr49 Cr39 Cr39 Cr33 Cr39 Cr34 Cr53 Cr
Cash & bank36 Cr53 Cr32 Cr47 Cr90 Cr32 Cr26 Cr10 Cr9 Cr27 Cr
Other assets288 Cr210 Cr228 Cr215 Cr194 Cr62 Cr72 Cr45 Cr43 Cr60 Cr
Total assets1,163 Cr1,105 Cr1,408 Cr1,474 Cr1,380 Cr1,051 Cr1,033 Cr1,179 Cr1,096 Cr1,123 Cr

Cash flows

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

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity49 Cr63 Cr-100 Cr-139 Cr160 Cr-151 Cr108 Cr-164 Cr114 Cr73 Cr
Cash from investing122 Cr81 Cr-17 Cr-42 Cr131 Cr-13 Cr-39 Cr5 Cr89 Cr-31 Cr
Cash from financing-157 Cr-127 Cr94 Cr195 Cr-245 Cr107 Cr-76 Cr143 Cr-206 Cr-25 Cr
Net cash flow13 Cr17 Cr-23 Cr14 Cr46 Cr-57 Cr-6 Cr-16 Cr-4 Cr17 Cr
Free cash flow (OCF − Capex)30 Cr42 Cr-126 Cr-182 Cr135 Cr-162 Cr73 Cr-195 Cr87 Cr41 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %104.3%10.4%16.6%2.3%22.2%8.0%5.6%8.5%17.5%7.6%
ROE %108.5%2.9%10.6%-28.0%19.8%6.8%3.4%9.2%22.2%7.1%
Debtor days121412131010811812
Inventory days221176284303256236211258267240
Days payable2022112422102106362454435
Cash conversion cycle32-215410557183157224232218
OCF / EBITDA %29.4%147.4%-86.8%-193.3%165.5%-142.2%140.8%-181.4%93.2%70.0%
OCF / EBITDA % (3 years)——3.6%-76.5%-27.9%-47.4%41.8%-75.6%20.0%7.2%
Debt / equity0.430.290.471.220.671.080.991.380.850.80
Current ratio1.000.941.091.111.171.301.221.261.501.56
Net debt / EBITDA0.64—1.264.381.623.614.626.153.353.75