Davangere Sugar Company Limited
NSE: DAVANGEREDiversified FMCG
Share price
₹2.26
-0.88% close of 9 Oct 2026
Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 8 Oct 2026, the close above is 9 Oct 2026.
Business score
How strong the business is, in one number. The parts behind it are in Pro.
50
out of 100 · worked out 9 Oct 2026
Your ratios
The numbers you want to see first. Tap Edit to change them.
Market cap
₹383 Cr
P/E ratio
47.1
P/B ratio
0.6
ROCE
5.5%
ROE
2.1%
Dividend yield
0.0%
Price & valuation chart
How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.
Answers
Simple answers to the questions investors ask most, from the company's own numbers.
How fast it has been growing
Sales grew 28.9% over the past year, and 9.9% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales slipped from 27.7% to 22.6% over the last four years.
Whether it grew faster than its sector
It grew 9.9% a year against a sector median of 9.9% — 0.0 percentage points faster.
Room to re-rate, or risk of de-rating
Too little price history yet to compare it with its own past.
Whether growth justifies the valuation
Its earnings are falling, so growth cannot justify the price.
| Profit growth | Price per ₹1 profit | Per 1% growth | |
|---|---|---|---|
| Davangere Sugar Company Limited — this one | -14%/yr | 47.1× | — |
| Hindustan Unilever | 14%/yr | 39.6× | ₹2.8 |
| ITC Limited | 3%/yr | 16.9× | ₹5.6 |
| Hindustan Foods Limited | 29%/yr | 42.5× | ₹1.5 |
| Godavari Biorefineries Limited | 17%/yr | 38.9× | ₹2.3 |
Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
How it compares with its peers
Against companies the exchange files under the same label (Diversified FMCG), it ranks 5 of 5 on returns, 3 of 5 on growth, 3 of 5 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
What makes it hard to beat — and is that still true?
No durable advantage shows in the numbers: it earns 5.5% on capital, ahead of 0% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
Whether its growth pays for itself
No — Over the last five years the business itself consumed ₹37 crore of cash before any plant spend, funded from shareholders — borrowings did not rise. And the profit is real: of every 100 rupees it reported over 10 years, about 153 arrived as cash — well above the profit; depreciation and interest are the reason, not a windfall. Its cash comes back more slowly than it used to: it went from being waiting 161 days for its cash to waiting 348 days for its cash.
Profit reality check
Is the profit real cash? Simple checks on the accounts. Facts only, not advice.
9 of 10 checks clear · 90%
Latest result · Q1 FY27
What the last results showed. Whether management kept its word is in Pro.
Announced 14 Aug 2026 · Standalone · Unaudited
Revenue
₹35 Cr
Revenue vs last year
+44.2%
Revenue vs last quarter
-58.6%
Net profit
₹1 Cr
Profit vs last year
-27.8%
Profit vs last quarter
-51.9%
Net margin
2.7%
EPS
₹0.01
Checklist before you investPRO
Points for and against, in one list.
Key numbers & peers
The main numbers grouped by topic, and how the company compares with similar ones.
Price
- Market cap
- ₹383 Cr
- Prev close
- ₹2.26
- 52w High
- ₹5.5
- 52w Low
- ₹1.7
- Enterprise value
- ₹626 Cr
- Beta
- 0.9
- Price CAGR 1y
- -38.0%
- Price CAGR 3y
- -37.0%
- Price CAGR 5y
- 11.0%
- Price CAGR 10y
- —
Ratios
- Return on assets
- 1.1%
- PEG ratio
- -3.4
- P/E ratio
- 47.1
- P/B ratio
- 0.6
- EV / EBITDA
- 12.9
- Industry P/E
- 39.6
- ROCE
- 5.5%
- ROCE 5y average
- 6.8%
- ROE
- 2.1%
- Debt / Equity
- 0.5
- Interest coverage
- 1.4
- Dividend yield
- 0.0%
- ROE 3y average
- 3.0%
- ROE last year
- 2.0%
Annual P&L
- Annual revenue
- ₹239 Cr
- Annual profit
- ₹9 Cr
- Operating margin
- 20.0%
- Net profit margin
- 3.8%
- EBITDA margin
- 20.1%
- Sales growth 3y
- -5.1%
- Sales growth 5y
- 10.5%
- Profit growth 3y
- -14.0%
- Profit growth 5y
- 28.0%
- EPS
- ₹0.1
- Sales growth TTM
- 29.0%
- Profit growth TTM
- -28.0%
- Dividend payout
- 0.0%
Quarter P&L
- Sales latest quarter
- ₹35 Cr
- Profit latest quarter
- ₹1 Cr
- YoY quarterly sales growth
- 44.2%
- YoY quarterly profit growth
- -27.7%
- OPM latest quarter
- 32.1%
Balance Sheet
- Book Value
- ₹3.0
- Face Value
- ₹1.0
- Total debt
- ₹250 Cr
- Total cash
- ₹7 Cr
- Borrowings
- ₹250 Cr
- Reserves / Equity
- 2.5
Cash Flow
- Operating cash flow
- -₹47 Cr
- Free cash flow
- -₹47 Cr
- FCF yield
- -19.3%
- Net cash flow
- ₹3 Cr
Shareholding
- Promoter holding
- 35.1%
- FII holding
- 15.9%
- DII holding
- 0.0%
- Public holding
- 49.0%
Peer comparison
| Company | Price ₹ | P/E | Mkt cap ₹ Cr | Div yield % | Profit qtr ₹ Cr | Profit var % | Sales qtr ₹ Cr | Sales var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| Hind. Unilever | 1,865.40 | 39.8 | 4,38,293 | 2.20 | 2,680.0 | -3.7 | 17,341.0 | 10.1 | 28.4 |
| ITC | 265.70 | 16.9 | 3,32,936 | 5.46 | 4,508.8 | -22.0 | 19,114.4 | -11.1 | 38.9 |
| Hindustan Foods | 580.40 | 43.5 | 7,041 | 0.00 | 42.8 | 32.8 | 1,201.1 | 17.9 | 14.1 |
| Godavari Bioref. | 226.24 | 39.9 | 1,158 | 0.00 | -19.3 | -20.6 | 557.9 | 4.6 | 6.4 |
| Davangere Sugar | 2.36 | 49.2 | 400 | 0.00 | 0.9 | -27.7 | 34.7 | 44.3 | 5.5 |
| Median | 265.70 | 39.9 | 7,041 | 0.00 | 42.8 | -20.6 | 1,201.1 | 10.1 | 14.1 |
Competes with: Godavari Biorefineries Limited, Hindustan Foods Limited, Hindustan Unilever, ITC Limited
Quarterly results
Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.
| Line item | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 48 | 27 | 78 | 64 | 46 | 39 | 73 | 57 | 24 | 48 | 83 | 84 | 35 |
| Expenses | 40 | 15 | 62 | 53 | 36 | 25 | 55 | 47 | 13 | 33 | 69 | 75 | 24 |
| Material Cost | 43 | 11 | 6.50 | 86 | 48 | 12 | |||||||
| Change in Inventories | -7.91 | -4.50 | 9.75 | -31 | 19 | 3.20 | |||||||
| Purchases of Stock-in-Trade | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| Employee Cost | 1.29 | 1.90 | 1.78 | 2.23 | 2.32 | 1.95 | |||||||
| Other Expenses | 11 | 4.63 | 15 | 11 | 6.25 | 6.11 | |||||||
| Operating Profit | 7.26 | 11 | 16 | 11 | 9.47 | 15 | 18 | 9.68 | 11 | 15 | 13 | 8.44 | 11 |
| OPM % | 15 | 43 | 20 | 17 | 21 | 37 | 25 | 17 | 47 | 32 | 16 | 10 | 32 |
| Other Income | 3.72 | 0.32 | 0.53 | 1.87 | 0.35 | 0.45 | 0.41 | 0.57 | 0.46 | 0.58 | 0.62 | 0.67 | 0.49 |
| Exceptional items (within Other Income) | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| Interest | 6.68 | 7.37 | 6.64 | 4.66 | 5.47 | 10 | 8.16 | 4.32 | 6.95 | 9.44 | 6.33 | 4.53 | 7.19 |
| Depreciation | 2.89 | 2.89 | 2.89 | 3.28 | 2.98 | 3.03 | 3 | 3.68 | 3.18 | 3.18 | 3.17 | 3.18 | 3.18 |
| Profit before tax | 1.41 | 1.54 | 6.92 | 4.60 | 1.37 | 1.78 | 7.47 | 2.25 | 1.72 | 3.33 | 4.53 | 1.40 | 1.28 |
| Tax % | 21 | 37 | 19 | 0.87 | 31 | 28 | 9.37 | 13 | 24 | 21 | 42 | -39 | 27 |
| Net Profit | 1.10 | 0.97 | 5.61 | 4.55 | 0.94 | 1.29 | 6.77 | 1.94 | 1.30 | 2.63 | 2.62 | 1.95 | 0.94 |
| EPS in Rs | 0.01 | 0.01 | 0.04 | 0.03 | 0.01 | 0.01 | 0.05 | 0.01 | 0.01 | 0.02 | 0.02 | 0.01 | 0.01 |
| Diluted EPS in Rs | 0.22 | 0.14 | 0.18 | 0.01 | 0.01 | 0.01 |
Profit & loss
Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.
| Line item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 173 | 64 | 114 | 203 | 145 | 124 | 280 | 217 | 215 | 239 | 249 |
| Expenses | 150 | 66 | 82 | 170 | 135 | 90 | 224 | 171 | 163 | 190 | 201 |
| Material Cost | 133 | 151 | |||||||||
| Change in Inventories | -14 | -6.30 | |||||||||
| Purchases of Stock-in-Trade | 0 | 0 | |||||||||
| Employee Cost | 8.36 | 8.23 | |||||||||
| Other Expenses | 36 | 37 | |||||||||
| Operating Profit | 23 | -2 | 31 | 33 | 10 | 34 | 56 | 45 | 52 | 48 | 48 |
| OPM % | 13 | -3.70 | 27 | 16 | 7 | 28 | 20 | 21 | 24 | 20 | 19 |
| Other Income | 0 | 18 | 0 | 0 | 3 | 0 | 1 | 6 | 2 | 2 | 2 |
| Exceptional items (within Other Income) | 0 | 0 | |||||||||
| Interest | 14 | 14 | 18 | 22 | 1 | 19 | 27 | 25 | 28 | 27 | 27 |
| Depreciation | 9 | 9 | 9 | 9 | 9 | 9 | 12 | 12 | 13 | 13 | 13 |
| Profit before tax | 1 | -7 | 5 | 3 | 3 | 7 | 18 | 14 | 13 | 11 | 11 |
| Tax % | 309 | 25 | 31 | 21 | 22 | 15 | 25 | 15 | 15 | 23 | |
| Net Profit | -2 | -9 | 3 | 2 | 2 | 6 | 13 | 12 | 11 | 9 | 8 |
| EPS in Rs | -0.01 | -0.07 | 0.02 | 0.01 | 0.02 | 0.04 | 0.09 | 0.09 | 0.08 | 0.06 | 0.06 |
| Diluted EPS in Rs | 1.15 | 0.05 | |||||||||
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Compounded growth
Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.
Compounded sales growth
- 10 years
- —
- 5 years
- 11%
- 3 years
- -5%
- TTM
- 29%
Compounded profit growth
- 10 years
- —
- 5 years
- 28%
- 3 years
- -14%
- TTM
- -28%
Stock price CAGR
- 10 years
- —
- 5 years
- 11%
- 3 years
- -37%
- 1 year
- -38%
Return on equity
- 10 years
- 2%
- 5 years
- 3%
- 3 years
- 3%
- Last year
- 2%
Balance sheet
What the company owns and what it owes, at the end of each year. ₹ crore.
| Line item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 45 | 45 | 56 | 56 | 56 | 56 | 94 | 94 | 94 | 143 |
| Reserves | 53 | 44 | 36 | 187 | 190 | 196 | 218 | 246 | 256 | 362 |
| Borrowings | 105 | 122 | 149 | 116 | 132 | 259 | 245 | 264 | 271 | 250 |
| Other Liabilities | 63 | 80 | 87 | 95 | 61 | 63 | 40 | 78 | 122 | 84 |
| Total Liabilities | 265 | 291 | 328 | 454 | 439 | 574 | 597 | 682 | 743 | 839 |
| Fixed Assets | 145 | 136 | 128 | 280 | 271 | 346 | 350 | 359 | 349 | 337 |
| CWIP | 12 | 5 | 5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 1 | 2 | 2 | 4 | 4 | 5 | 5 | 5 |
| Other Assets | 109 | 149 | 194 | 173 | 165 | 224 | 243 | 318 | 389 | 497 |
| Total Assets | 265 | 291 | 328 | 454 | 439 | 574 | 597 | 682 | 743 | 839 |
Cash flows
Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.
| Line item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 68 | 6 | -30 | 59 | 6 | -68 | 81 | 2 | -5 | -47 |
| Cash from Investing Activity | -9 | 6 | -2 | -2 | -1 | -85 | -20 | -23 | -3 | -1 |
| Cash from Financing Activity | -61 | -9 | 27 | -52 | 6 | 144 | -65 | 19 | 8 | 51 |
| Net Cash Flow | -2 | 2 | -5 | 6 | 10 | -9 | -5 | -1 | -0 | 3 |
| Free Cash Flow | 59 | 6 | -31 | 58 | 5 | -152 | 61 | -20 | -8 | -47 |
Ratios
How fast customers pay, how long stock sits, and how well capital earns — year by year.
| Line item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 43 | 60 | 63 | 43 | 80 | 105 | 28 | 31 | 49 | 54 |
| Inventory Days | 456 | 359 | 632 | 116 | 157 | 656 | 174 | 320 | 409 | 477 |
| Days Payable | 25 | 11 | 34 | 7 | 0 | 23 | 29 | 57 | 80 | 36 |
| Cash Conversion Cycle | 474 | 407 | 662 | 151 | 236 | 738 | 172 | 293 | 378 | 495 |
| Working Capital Days | 99 | 196 | 115 | 33 | 146 | 161 | 81 | 118 | 182 | 348 |
| ROCE % | 3 | 10 | 8 | 1 | 6 | 8 | 7 | 7 | 6 |
Price trend
The price as a Renko brick chart: small moves drop out so the bigger path stands out.
Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.
Open interestPRO
Where option traders are positioned on this stock.
Industry numbers
The numbers that matter most in this industry, from the company's own filings.
1 when an audit qualification is filed as repetitive
0.00flag
2026-03-31
the company's own unlisted debt securities in default at period end
0.00cr
2026-06-30
the company's own loans / revolving facilities in default at period end (standalone filing)
0.00cr
2026-06-30
net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash
243inr_cr
2026-03-31
guarantees / comfort given for promoter, promoter group, directors and KMP
0.00cr
2026-03-31
loans outstanding to promoter, promoter group, directors and KMP (governance filing)
0.00cr
2026-03-31
security given for the borrowing of promoter, promoter group, directors and KMP
0.00cr
2026-03-31
News
News and filings about Davangere Sugar Company Limited. Open one to see why it matters.
No recent news for this company.
Supply chain
Who it buys from, sells to and competes with — as recorded in our map of company links.
Uses as raw material
- bagasse
- grain-based feedstock
- molasses and cane syrup
- processing materials
- steaming coal
- sugarcane
Depends on the price of
- coal
- sugar
- sugarcane
Sells to
- Oil Marketing Companies (Ethanol Blended Petrol Programme) · Ethanol from molasses, sugar syrup and grain feedstock
About
What the company is, from our own records: where it sits, where it makes things, and what it is made of.
- Sector
- Fast Moving Consumer Goods
- Industry
- Diversified FMCG
- Classification
- Fast Moving Consumer Goods › Diversified FMCG
- ISIN
- INE179G01029
Business segments
- Distellery · 55%
- Sugar · 41%
- Co Generation · 3%
- Others · 1%
- Aviation · 0%
Plants
- Davangere Sugar Kukkuwada CO2 Processing Plant
- Davangere Sugar Kukkuwada Co-generation Plant
- Davangere Sugar Kukkuwada Distillery
- Davangere Sugar Kukkuwada Sugar Plant
News impact
Big market events that reach Davangere Sugar Company Limited, and how the effect spreads.
16 Sept, 11:24 IST · Market event · high impact
Godavari Biorefineries jumps nearly 10% after Chinese patent grant for antiviral compound
Godavari Biorefineries won a Chinese patent for compounds used to make antiviral medicines, so its shares jumped ~10% as investors bet on future earnings, while rival chemical makers face a new patented competitor.
Who it hits first
- Godavari Biorefineries' biotech arm Sathgen Therapeutics won a Chinese patent for compounds that block a cell process (V-ATPase) to make antiviral medicines, giving it exclusive rights in China it could license out or develop.
- Investors repriced the stock nearly 10% higher the same day — but no buyer, licensing deal, timeline or revenue figure came with the announcement, so the gain is a bet on future money, not money in hand.
Who may gain
- Godavari Biorefineries itself is the winner: a granted China patent it can license for fees or use to make future drugs.
- Nobody else clearly gains — the patent walls rivals OUT of these compounds in China rather than sharing any benefit, and no listed drug maker tied to these compounds was named.
Along the supply chain
Downstream
No downstream change today — ethanol buyers (Indian Oil, HPCL, BPCL) and sugar customers see identical supply and prices; only a future drug maker licensing these compounds would one day become a new downstream link.
Upstream
No upstream change — the patent alters nothing Godavari buys (sugarcane, molasses, chemical inputs), so no supplier gains or loses an order.
Where demand moves
Business
No goods or orders move here — a patent grant shifts no supply and creates no purchase orders; it only creates future licensing possibility.
Capital
Short-term trading money may pile into Godavari Biorefineries for a few days on the headline, as it did after its last three patent wins; no wider sector rotation — the FMCG giants sharing its sector label are untouched.
How it spreads across sectors
Chemicals
Mild positive mood signal for Indian bio-chemical innovators — a China patent shows home-grown R&D can win abroad — but no earnings change for any listed chemical maker.
Fast Moving Consumer Goods
No effect — Godavari's sector-mates ITC, Hindustan Unilever, Hindustan Foods and Davangere Sugar share only a database label, and their closes never reacted to its three prior patent wins.
Healthcare
No near-term effect — turning these compounds into approved antiviral drugs needs years of trials and partners that do not exist yet; none of the listed drug makers are named in this story.
When it plays out
Immediate
Godavari shares hold most of the ~10% pop for a few sessions on headline momentum, then drift as traders take profits (its last three patent pops faded within days).
Medium term
Over 1-6 months the patent only matters if Sathgen signs a licensing or co-development deal for the antiviral compounds; otherwise the stock reverts to sugar-ethanol-chemical earnings, where thin margins (operating margin 6% vs sector median 10%) cap any re-rating.
Short term
Over 1-4 weeks the pop typically leaks away without a licensing announcement — two of the last three wins sat -2% to -5% within a week (the third held flat); only a named licensee changes that path.
Dividends, splits & big trades
Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.
Dividends
| 31 May 2024 | split | ₹0 |
|---|
Splits, bonuses & buybacks
- daily-prices repair: 5 rows from NSE's archive (replace 1, delete 1, insert 3), 2024-03-02..2026-02-01 (docs/flat_day_repair.md)1× · 2 Mar 2024
Bulk & block deals
| Date | Who | Bought / sold | Shares | Price |
|---|---|---|---|---|
| 9 Sep 2026 | CHUNGATH KARUNAKARAN PADMA KUMAR | SELL | 4,89,68,650 | ₹2.00 |
| 9 Sep 2026 | L7 HITECH PRIVATE LIMITED | BUY | 1,10,00,000 | ₹1.90 |
| 9 Sep 2026 | SKYTECH PROPERTY LLP | SELL | 1,00,00,000 | ₹1.74 |
| 9 Sep 2026 | CHAUBARA EATS PRIVATE LIMITED | BUY | 1,00,00,000 | ₹1.74 |
| 9 Sep 2026 | SKYTECH PROPERTY LLP | BUY | 1,00,00,000 | ₹2.00 |
| 9 Sep 2026 | CHAUBARA EATS PRIVATE LIMITED | SELL | 76,81,022 | ₹1.75 |
| 9 Sep 2026 | L7 HITECH PRIVATE LIMITED | SELL | 68,10,075 | ₹1.74 |
| 8 Sep 2026 | TRADEFLOW DYNAMICS PRIVATE LIMITED | SELL | 91,74,766 | ₹1.95 |
| 31 Aug 2026 | TRADEFLOW DYNAMICS PRIVATE LIMITED | SELL | 1,26,76,262 | ₹2.10 |
| 31 Aug 2026 | ABDUL AZEEZ KANAKKAYIL | BUY | 1,05,64,997 | ₹2.10 |
Documents
Annual reports, results presentations and earnings calls, straight from the source.
- Annual report · 2025-2620 Aug 2026
- Annual report · 2024-258 Sep 2025
Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.