Mawana Sugars Limited
NSE: MAWANASUG · Sugar · sector
₹153.22NSE close 2026-10-26
Key numbers
Market cap₹599 cr
Price₹153.22
52w high / low₹190 / ₹75
P/E21.7xSector median 12.9x
P/B1.1xSector median 0.9x
Book value₹134.1
Dividend yield0.65%Sector median 0.91%
ROE5.4%Sector median 6.3%
ROCE5.9%Sector median 6.8%
OPM5.2%Sector median 6.0%
Debt / equity0.80xSector median 0.72x
EV/EBITDA11.8xSector median 11.8x
Interest cover3.0x
Current ratio1.56x
Sales growth 3y+2.0%Sector median -1.4%
Profit growth 3y+41.4%Sector median -11.6%
PEG0.53x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 35 companies in Sugar (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹40 cr vs borrowings ₹420 cr (FY26): borrowings are higher by ₹380 cr.
- Operating profit covered interest 3.0x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 2 of the last 5 years (FY24, FY22).
- Net loss in 4 of the last 8 quarters.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 13% of net profit in the last 12 months.
- Dividend paid in 5 of the last 5 financial years.
- Price ₹153.22 on 2026-10-26: -19.1% from the 52-week high, +104.1% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹169.05 · low ₹76.08
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 382 | 334 | 343 | 401 | 429 | 367 | 374 | 416 |
| EBITDA | -10 | 90 | 89 | -1 | -10 | 13 | 97 | -17 |
| OPM % | -2.7% | 27.0% | 25.9% | -0.1% | -2.4% | 3.5% | 25.9% | -4.0% |
| Other income | 0 | 3 | 5 | 1 | 0 | 1 | 2 | 1 |
| Net profit | -20 | 73 | 62 | -14 | -16 | 4 | 63 | -23 |
| EPS (₹) | -5.16 | 18.54 | 15.77 | -3.46 | -4.12 | 1.01 | 16.06 | -5.90 |
| Revenue YoY | +12.1% | +9.7% | +9.2% | +3.8% | ||||
| Profit YoY | – | -94.6% | +1.9% | – |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 1,478 | 1,482 | 1,355 | 1,446 | 1,571 | 1,586 |
| EBITDA | 100 | 76 | 90 | 183 | 99 | 83 |
| Net profit | 26 | 13 | 38 | 109 | 37 | 28 |
| EPS (₹) | 6.69 | 3.36 | 9.63 | 27.97 | 9.48 | 7.05 |
| Revenue growth | +0.2% | -8.5% | +6.7% | +8.6% | +8.6% | |
| Profit growth | -49.8% | +186.7% | +190.6% | -66.1% | -72.6% | |
| Dividend / share (₹) | 3.00 | 3.00 | 3.00 | 7.00 | 1.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +2.0% | +1.4% | +8.6% |
| Net profit | +41.4% | -13.0% | -72.6% |
| EPS | +41.3% | -13.0% | – |
| Share price | – | +25.0% (2y) | +95.7% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 384 | 410 | 492 | 525 |
| Borrowings | – | 382 | 568 | 418 | 420 |
| Cash & equivalents | – | 39 | 25 | 23 | 40 |
| Total assets | – | 1,033 | 1,179 | 1,096 | 1,123 |
| Fixed assets | – | 196 | 203 | 189 | 178 |
| Capital work in progress | – | 16 | 1 | 0 | 1 |
| Investments | – | 3 | 3 | 0 | 0 |
| Receivables | – | 33 | 39 | 34 | 53 |
| Inventory | – | 688 | 878 | 821 | 804 |
| Payables | – | 203 | 152 | 135 | 116 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | -151 | 108 | -164 | 114 | 73 |
| Cash from investing | -13 | -39 | 5 | 89 | -31 |
| Cash from financing | 107 | -76 | 143 | -206 | -25 |
| Capex | 11 | 35 | 30 | 27 | 33 |
| Free cash flow | -162 | 73 | -195 | 87 | 41 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 3.4% | 9.2% | 22.2% | 7.1% |
| ROCE % | – | 5.6% | 8.5% | 17.5% | 7.6% |
| Debtor days | – | 8 | 11 | 8 | 12 |
| Inventory days | – | 208 | 300 | 266 | 235 |
| Payable days | – | 61 | 52 | 44 | 34 |
| Cash conversion cycle (days) | – | 155 | 259 | 230 | 213 |
| Working capital days | – | 35 | 53 | 75 | 76 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 63.49% |
| FIIs | 0.72% |
| DIIs | 0.08% |
| of which Mutual funds | 0.03% |
| Government | 0.00% |
| Public (non-institutions) | 35.71% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 63.49% | 63.49% | 63.49% | 63.49% | 63.49% | 63.49% | 63.49% | 63.49% |
| Promoter group | % |
|---|---|
| Mr.Krishna Shriram | 62.93% |
| Mr.Krishna Shriram (Trustee of Enterprise Trust) | 0.55% |
| Mrs. Roula Shriram | 0.00% |
50,947 shareholders. Pledged: 0.00% of promoter shares.
Peers in Sugar
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| BALRAMCHIN | ₹13,212 cr | 34.1x | 3.2x | 9.3% | 8.1% | 11.3% | +10.4% | 0.53% |
| TRIVENI | ₹4,979 cr | 17.7x | 1.5x | 8.7% | 8.3% | 7.0% | +6.5% | 1.75% |
| BANARISUG | ₹4,029 cr | 33.1x | 2.1x | 6.6% | 7.3% | 9.3% | -8.8% | 0.39% |
| RENUKA | ₹3,858 cr | – | – | – | -2.7% | 0.3% | +0.5% | – |
| DALMIASUG | ₹3,357 cr | 16.5x | 1.0x | 6.3% | 7.0% | 10.8% | +3.6% | 1.45% |
| BAJAJHIND | ₹2,606 cr | 12.9x | 0.7x | 2.9% | 0.8% | 4.8% | -4.9% | – |
| AVADHSUGAR | ₹1,627 cr | 24.7x | 1.4x | 5.9% | 6.8% | 8.2% | -1.3% | 1.23% |
| UTTAMSUGAR | ₹1,179 cr | 13.6x | 1.3x | 10.4% | 10.2% | 9.3% | +2.3% | 0.87% |
| DHAMPURSUG | ₹1,095 cr | 15.6x | 0.9x | 6.0% | 6.8% | 6.4% | -0.8% | 0.02% |
| MAWANASUG | ₹599 cr | 21.7x | 1.1x | 5.4% | 5.9% | 5.2% | +2.0% | 0.65% |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Sugar | ₹1,639 cr | 77.7% | ₹45 cr | 2.8% |
| Power | ₹253 cr | 12.0% | ₹41 cr | 16.4% |
| Distillery | ₹219 cr | 10.4% | ₹10 cr | 4.4% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-06-25 | Dividend | Dividend - Rs 4 Per Share |
| 2025-06-20 | Dividend | Dividend - Re 1 Per Share |
| 2024-11-22 | Dividend | Interim Dividend - Rs 3 Per Share |
| 2024-06-28 | Dividend | Dividend - Rs 4 Per Share |
| 2023-07-07 | Dividend | Dividend - Rs 3 Per Share |
| 2022-09-21 | Dividend | Annual General Meeting/Dividend - Rs 3 Per Share |
| 2021-09-16 | Dividend | Dividend - Rs 3 Per Share |
| 2021-09-16 | Other | Annual General Meeting |
| 2020-07-31 | Other | Annual General Meeting |
| 2019-07-25 | Other | Annual General Meeting |
| 2018-08-09 | Other | Annual General Meeting |
| 2017-07-19 | Other | Annual General Meeting |
| 2016-06-03 | Other | Annual General Meeting |
| 2015-03-18 | Other | Annual General Meeting |
| 2013-12-11 | Other | Annual General Meeting |
| 2012-12-14 | Other | Annual General Meeting |
| 2011-08-18 | Other | Annual General Meeting |
| 2010-02-22 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Fast Moving Consumer Goods |
| Industry | Sugar |
| Sub-industry | Sugar |
| Symbol | MAWANASUG |
| BSE code | 523371 |
| ISIN | INE636A01039 |
| Face value | ₹10.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.