Dhampur Sugar Mills Limited (DHAMPURSUG)

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Dhampur Sugar Mills Limited (DHAMPURSUG) · mywealthgrid

About

Dhampur Sugar Mills is an agricultural food products company operating in India's sugar sector within Consumer Staples. With a market capitalization of ₹1,034.78 Cr and a PE of 14.72, it operates mills processing sugarcane for domestic consumption. The stock has returned 17.35% over one year and trades near its 52-week high of ₹161.73.

Face value: ₹10

Market cap

₹1,100 Cr

P/E

15.7×

P/B

0.9×

Dividend yield

1.2%

ROE

5.5%

ROCE

9.3%

Debt / equity

0.73

OPM

6.2%

EPS (TTM)

₹10.9

Book value

₹186.2

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Margin compression cycles: OPM fell from 12.37% (Mar 2026) to 1.2% (Sep 2025), recovered to 8.37% (Dec 2025), then fell to 3.88% (Jun 2026) — verify the input costs, commodity prices, or demand dynamics driving these swings

Profitability volatility: net profit ranged from ₹45.7 Cr (Mar 2026) to a loss of ₹8.77 Cr (Sep 2025) within months — assess whether this reflects seasonal patterns or structural operational challenges

Weak capital returns: ROE of 5.54% is low for a manufacturing business — verify whether this is temporary cycle effect or reflects structural mill economics

Institutional skepticism: FII holding fell from 2.41% (Mar 2026) to 1.95% (Jun 2026), with FII+DII combined under 4% — clarify whether this reflects valuation or sector concerns

Generated analysis · source review pending

Growth drivers

Operating margin cycle: OPM rebounded from 1.2% (Sep 2025) to 12.37% (Mar 2026), but fell to 3.88% (Jun 2026) — verify whether this reflects seasonal pattern or commodity cycle and sustainability

Cash generation for returns: dividend history spanning 2021–2026 and D/E ratio of 0.73 indicate cash generation; verify free cash flow trend and payout sustainability

Revenue scale maintenance: quarterly revenue sustained ₹667–₹786 Cr range across four quarters; verify mill capacity utilization, cane procurement trends, and whether growth is planned

Commodity cycle upside: margin range of 1.2% to 12.37% OPM shows earnings leverage to sugar prices; verify current sugar price cycle position and forward cost outlook

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹171.1-0.4%1Y

Quick read

rule-based

Pros

No positive flags triggered.

Cons

−Low return on equity of 7.6% (3-yr avg)
−Thin operating margin of 6.2%
−Profit declined 22.3% a year over the last 5 years
−Revenue shrank over the last 5 years (-7.9% a year)

Research score

Structured signal from quality, growth, valuation and momentum.

45/100

Business quality: 19
Growth: 34
Valuation: 81

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2017	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	3,396	3,396	3,526	4,232	2,163	2,874	2,647	2,656	2,808
COGS	2,640	2,640	2,715	3,226	1,350	1,882	1,611	1,522	1,518
Gross profit	756	756	811	1,006	813	992	1,036	1,134	1,290
	401	401	449	550	521	689	770	965	1,117
	355	355	362	455	291	303	266	170	173
OPM %	10.4%	10.4%	10.3%	10.8%	13.5%	10.6%	10.1%	6.4%	6.2%
Depreciation	58	58	76	78	50	52	59	62	62
Interest	122	122	101	80	50	44	43	50	49
	27	27	22	17	11	15	27	18	23
Profit before tax	203	203	207	315	202	223	192	75	86
Tax	51	51	-8	86	58	65	58	23	21
Tax %	25.3%	25.3%	-4%	27.4%	28.6%	29.1%	30%	30.2%	23.9%
	151	151	216	229	144	158	135	52	65
PAT margin %	4.5%	4.5%	6.1%	5.4%	6.7%	5.5%	5.1%	2%	2.3%
EPS (₹)	22.9	22.9	32.6	34.5	21.7	23.7	20.3	8	10.1
EPS adjusted (₹)	25.1	22.8	574.3	34.5	21.7	23.8	20.5	8	10.1
	26.3%	13.1%	18.4%	17.4%	27.6%	4.2%	24.7%	0%	—
Annual report	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	75	60	66	66	4	66	66	66	65	65	64
Reserves	635	575	935	1,158	-4	1,494	819	976	1,035	1,087	1,133
Minority interest	—	—	—	—	—	—	—	0	1	1	1
	1,475	1,475	1,353	1,676	—	1,142	879	726	963	910	879
	1,010	1,040	781	1,026	2	769	401	353	293	324	338
Total equity & liabilities	3,196	3,150	3,136	3,927	2	3,471	2,165	2,122	2,357	2,387	2,415
	1,496	1,498	1,597	1,597	—	1,596	992	1,045	1,150	1,132	1,094
CWIP	28	28	24	34	—	21	29	103	17	9	13
Investments	1	3	2	12	—	3	5	2	47	27	264
	1,671	1,620	1,512	2,284	2	1,851	1,139	971	1,143	1,219	1,045
Total assets	3,196	3,150	3,136	3,927	2	3,471	2,165	2,122	2,357	2,387	2,415

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Sugar	1,496.24	20.03	1,312.24	161.12	1,151.12	1.74
Potable Spirits	934.52	14.67

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	22.3%	23%	23.8%	37.6%	34.5%	39.1%	42.7%	45.9%
EBITDA margin %	10.4%	10.3%	10.8%	13.5%	10.6%	10.1%	6.4%	6.2%
EBIT margin %	8.7%	8.1%	8.9%	11.1%	8.7%	7.8%	4.1%	4%
PAT margin %	4.5%	6.1%	5.4%	6.7%	5.5%	5.1%	2%	2.3%
Working capital
Receivable days	26	—	26	27	25	23	20	15
Inventory days	158	—	146	230	129	208	215	206
Payable days	0	—	67	63	35	26	32	38
NWC days	184	—	105	195	119	204	204	183
Leverage
Current ratio	—	0.91	1.2	1.12	1.24	1.2	1.29	1.37
Debt to EBITDA	3.82	—	2.51	3.02	2.39	3.62	5.37	5.07
Debt to equity	1.35	—	0.73	0.99	0.7	0.88	0.79	0.73
Interest coverage	2.7	3.1	4.9	5	6.1	5.5	2.5	2.8
Asset turnover	1.08	1,754.26	1.22	1	1.35	1.12	1.11	1.16
Return ratios
Return on assets %	4.8%	10,727.9%	6.6%	6.7%	7.4%	5.7%	2.2%	2.7%
Return on capital employed %	—	-1,86,029.4%	20.1%	16.1%	21.2%	17.2%	9%	9.3%
Return on equity %	15.1%	-1,26,841.2%	14.7%	16.3%	15.2%	12.2%	4.5%	5.5%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	49.08%	49.08%	49.12%	49.12%	49.12%	49.1%	49.1%	49.84%	49.87%	49.87%	49.87%	49.87%
	7.57%	6.21%	6.02%	5.5%	3.99%	2.14%	1.97%	2.04%	2.05%	1.91%	2.41%	1.95%
	0.47%	0.45%	0.46%	0.46%	0.46%	0.46%	0.47%	0.48%	0.48%	0.58%	0.83%	1.14%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	42.88%	44.26%	44.4%	44.92%	46.43%	48.3%	48.46%	47.64%	47.6%	47.64%	46.89%	47.04%
No. of shareholders	—	—	—	—	—	—	—	—	90,737	88,579	86,339	84,980

Promoter holding up 0.79 percentage points since Sep 2023.

61 deals · 4 Jan 2022 – 30 Apr 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
30 Apr 2026	QE SECURITIES LLP	Bulk	NSE	Sell	3,88,790	₹155.58	₹6.05 Cr
30 Apr 2026	QE SECURITIES LLP	Bulk	NSE	Buy	3,73,934	₹154.67	₹5.78 Cr
30 Apr 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	3,23,490	₹156.96	₹5.08 Cr
30 Apr 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	3,23,490	₹156.88	₹5.07 Cr
30 Aug 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	5,55,887	₹224.67	₹12.49 Cr
30 Aug 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	5,55,887	₹225.11	₹12.51 Cr
30 Aug 2024	QE SECURITIES LLP	Bulk	NSE	Sell	3,74,523	₹225.35	₹8.44 Cr
30 Aug 2024	QE SECURITIES LLP	Bulk	NSE	Buy	3,54,450	₹225.36	₹7.99 Cr
19 Jun 2024	GOEL ANIL KUMAR	Bulk	NSE	Sell	3,50,000	₹243.02	₹8.51 Cr
13 Jun 2024	GOEL ANIL KUMAR	Bulk	NSE	Sell	5,97,439	₹247.90	₹14.81 Cr

1–10 of 61

1 / 7

Mr. Ashok Kumar GoelExecutive Director-Chairperson
Mr. Gaurav GoelExecutive Director-MD
Mr. Subhash PandeyExecutive Director
Mr. Yashwardhan PoddarNon-Executive - Independent Director
Mr. Satpal Kumar AroraNon-Executive - Independent Director
Mr. Anuj KhannaNon-Executive - Independent Director
Mrs. Pallavi KhandelwalNon-Executive - Independent Director
Mr. Susheel Kumar MehrotraChief Financial Officer
Ms. Aparna GoelCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Dhampur Sugar Mills Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

21 announcementsExport CSV

27 Aug 2026, 5:24 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

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Ratio	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	22.3%	23%	23.8%	37.6%	34.5%	39.1%	42.7%	45.9%
EBITDA margin %	10.4%	10.3%	10.8%	13.5%	10.6%	10.1%	6.4%	6.2%
EBIT margin %	8.7%	8.1%	8.9%	11.1%	8.7%	7.8%	4.1%	4%
PAT margin %	4.5%	6.1%	5.4%	6.7%	5.5%	5.1%	2%	2.3%
Working capital
Receivable days	26	—	26	27	25	23	20	15
Inventory days	158	—	146	230	129	208	215	206
Payable days	0	—	67	63	35	26	32	38
NWC days	184	—	105	195	119	204	204	183
Leverage
Current ratio	—	0.91	1.2	1.12	1.24	1.2	1.29	1.37
Debt to EBITDA	3.82	—	2.51	3.02	2.39	3.62	5.37	5.07
Debt to equity	1.35	—	0.73	0.99	0.7	0.88	0.79	0.73
Interest coverage	2.7	3.1	4.9	5	6.1	5.5	2.5	2.8
Asset turnover	1.08	1,754.26	1.22	1	1.35	1.12	1.11	1.16
Return ratios
Return on assets %	4.8%	10,727.9%	6.6%	6.7%	7.4%	5.7%	2.2%	2.7%
Return on capital employed %	—	-1,86,029.4%	20.1%	16.1%	21.2%	17.2%	9%	9.3%
Return on equity %	15.1%	-1,26,841.2%	14.7%	16.3%	15.2%	12.2%	4.5%	5.5%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Balrampur Chini Mills LimitedBALRAMCHINBALRAMCHIN	₹13,714 Cr	₹16,884 Cr	₹6,366 Cr	₹721 Cr	11.8%	₹371 Cr	6%	12%	9.5%	236
Triveni Engineering & Industries LimitedTRIVENITRIVENI	₹5,055 Cr	₹7,202 Cr	₹7,617 Cr	₹547 Cr	7.2%	₹281 Cr	3.5%	12.5%	8.3%	229
Bajaj Hindusthan Sugar LimitedBAJAJHINDBAJAJHIND	₹4,556 Cr	₹8,101 Cr	₹5,332 Cr	₹273 Cr	6.7%	₹116 Cr	2.3%	2%	3.2%	-58
Shree Renuka Sugars LimitedRENUKARENUKA	₹4,542 Cr	₹11,693 Cr	₹9,365 Cr	₹29 Cr	0.2%	₹-780 Cr	-8.6%	-10.6%	—	17
Bannari Amman Sugars LimitedBANARISUGBANARISUG	₹4,126 Cr	₹4,134 Cr	₹1,671 Cr	₹156 Cr	10.3%	₹122 Cr	7.7%	9%	8%	137
Dalmia Bharat Sugar And Industries LimitedDALMIASUGDALMIASUG	₹3,209 Cr	₹5,000 Cr	₹3,378 Cr	₹421 Cr	11.8%	₹240 Cr	6.5%	10.1%	7.7%	230
Avadh Sugar & Energy LimitedAVADHSUGARAVADHSUGAR	₹1,529 Cr	₹2,935 Cr	₹2,756 Cr	₹229 Cr	8.2%	₹66 Cr	2.1%	10.7%	5.2%	225
Dhampur Sugar Mills LimitedDHAMPURSUGDHAMPURSUG	₹1,100 Cr	₹1,979 Cr	₹2,853 Cr	₹182 Cr	6.2%	₹70 Cr	2.3%	9.3%	5.5%	183
Uttam Sugar Mills LimitedUTTAMSUGARUTTAMSUGAR	₹1,052 Cr	₹1,774 Cr	₹2,179 Cr	₹205 Cr	10.4%	₹87 Cr	4.6%	18.1%	12%	180
Zuari Industries LimitedZUARIINDZUARIIND	₹840 Cr	₹3,438 Cr	₹1,099 Cr	₹60 Cr	6.8%	₹109 Cr	10.1%	2.5%	2.5%	356
Dhampur Bio Organics LimitedDBOLDBOL	₹803 Cr	₹1,857 Cr	₹3,268 Cr	₹138 Cr	4.2%	₹84 Cr	0.8%	7.9%	2.5%	213
Dwarikesh Sugar Industries LimitedDWARKESHDWARKESH	₹778 Cr	₹1,111 Cr	₹1,355 Cr	₹57 Cr	6.2%	₹15 Cr	2.2%	5.9%	3.8%	235

Date	Category	Subject	Filing
27 Aug 2026, 5:24 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
26 Aug 2026, 6:24 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
3 Aug 2026, 6:19 pm	Company Update Credit Rating	Announcement under Regulation 30 (LODR)-Credit Rating	PDF
1 Aug 2026, 2:07 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
31 Jul 2026, 6:53 pm	Company Update Investor Presentation	Announcement under Regulation 30 (LODR)-Investor Presentation	PDF
31 Jul 2026, 5:51 pm	Result Financial Results	Outcome Of Board Meeting	PDF
31 Jul 2026, 5:40 pm	Board Meeting Outcome of Board Meeting	Board Meeting Outcome for Outcome Of The Board Meeting	PDF
31 Jul 2026, 1:53 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	168	-50	805	-203	344	880	-0	383	-53	201	243
	-42	-56	-166	-90	-49	-80	-91	-146	-92	22	-244
	-117	106	-648	268	-286	-738	77	-243	109	-111	-109
Net cash flow	9	-0	-9	-26	-3	62	-14	-6	-36	112	-109
Free cash flow	—	-106	663	-290	283	792	-88	234	-126	180	214
CFO / Operating profit %	—	-14.1%	227.2%	—	94.9%	193.3%	-0.1%	126.2%	-19.7%	118.4%	140.3%

Dhampur Sugar Mills Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

15

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Chemical/ Ethanol · revenue

Dhampur Sugar Mills Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

No fund holdings on record

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Dividends15

Board meetings1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Chemical/ Ethanol · revenue

15

1