Sector Alpha Week of 2026-07-24
Sector Alpha — machine-written from the numbers · Data as of 2026-07-24

Andhra Sugars Ltd

ANDHRSUGAR
Sugar

Andhra Sugars Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.

The sharpest disagreement: annual EPS moved +221.5% against a −0.6% price move — the market has not yet caught up with the delivery.

The price is in a confirmed uptrend (12 weeks in) while the P/E sits at the 63rd percentile of its own 10-year range. Underneath, the last four quarters read deteriorating — profit −4.4% year on year, and 288% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.

Stage
Mixed
partial read
Price
₹82.8
−0.6% 1Y
P/E
11.7×
63rd pctile
of its own 10-year range
Revenue (Mar 26)
₹637 Cr
+27.4% YoY
Profit (Mar 26)
₹5.9 Cr
−4.4% YoY
Operating margin
7.5%
−1.8 pp YoY
ROCE
8%
FY26
ROIC
6.4%
vs WACC 12.0% → −5.6 pp
Cash conversion
288%
of profit, last 3 FY
Unverified figures: Some figures on this page come from a second financial-data feed that could not be cross-checked against the primary source — the two do not share enough overlapping reported history to compare. They are drawn, because they are the only evidence there is, and every section carrying one is marked unverified. PEG is the exception: the quarterly curve is not drawn at all. PEG asks what is being paid for growth — both sides of that division come from the source that could not be checked, so it is withheld instead of marked.
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Andhra Sugars Ltd trades at ₹82.8, in a confirmed uptrend and 12 weeks into that stage. That is +1.6% against its own 200-day average. It sits at 46% of a 52-week range of ₹68 to ₹100. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (6 weeks and counting).

Today the stock is in a confirmed uptrend — week 12 of stage 2, confirmed. At ₹82.8 it trades +1.6% versus its 200-day average and sits at 46% of its 52-week range (₹68–₹100).

Jul 26: ₹82.8 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
+1.6% versus the 200-day line, week 12 of stage 2
Price50-day avg200-day avg
S4S4S2₹130₹113₹96.0₹79.0₹62.1₹83₹82Jul 23Apr 24Feb 25Nov 25Jul 26
S4S4S2₹130₹113₹96.0₹79.0₹62.1₹83₹82Jul 23Feb 25Jul 26
Beating or trailing, week by week since 2016 Each cell is one week from 2016 to now (546 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Mar 16Jul 26

Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved +241% while the NIFTY 500 moved +274% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (6 weeks and counting; last ahead the week of 2026-06-19) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 63rd percentile of its own range.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Andhra Sugars Ltd trades at 11.7× P/E, mid-range by its own standards (63rd percentile). Its long-run median P/E is 9.7×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 11.7× is mid-range by its own standards (63rd percentile), against a long-run median of 9.7× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 11.7× vs a 9.7× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 10.4-year window; loss-period spikes above 24× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
mid-range by its own standards (63rd percentile)
P/EMedianEPS (TTM) (quarterly)
25.5×₹21.319.4×₹15.913.3×₹10.67.2×₹5.31.1×₹0.0×11.70×₹7Feb 16Mar 19Sep 21Mar 24Jul 26
25.5×₹21.319.4×₹15.913.3×₹10.67.2×₹5.31.1×₹0.0×11.70×₹7Feb 16Sep 21Jul 26
P/E
11.7×
63rd percentile of 10y

Why the multiple sits where it does: over the past year annual EPS moved +221.5% against a −0.6% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the −5.4%/yr price move, ~−6.8%/yr came from earnings growth and ~+1.4 pp from the multiple (expanding); over 10y, of the +5.1%/yr price move, ~+7.7%/yr came from earnings growth and ~−2.6 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

03 · Stage: Mixed

Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Andhra Sugars Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE holding at 8.0% — the per-curve reads carry the story. The read is built from 10 quarters across 3 curves, on partial evidence.

Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Where the trailing-twelve-month history is short, the curve falls back to single-quarter year-on-year growth — noisier, and the classifier smooths and caps base-effect spikes before reading. Base-effect spikes shown pinned (▲). A missing point means that reading is not held for the quarter.
the trajectory the stage is read from
RevenueProfitEPS
31%332%18%215%3.9%98%−9.7%−20%−23%−137%%%27.4%−4.4%221.5%Jun 23Sep 24Mar 26
31%332%18%215%3.9%98%−9.7%−20%−23%−137%%%27.4%−4.4%221.5%Jun 23Sep 24Mar 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
17%13%10%6.5%3.0%%8%FY23FY24FY26
17%13%10%6.5%3.0%%8%FY23FY24FY26
Revenue growth
Rising
latest +27.4% · span −19.6% to +27.4%
Profit growth
Flat
latest −4.4% · span −100.0% to +100.0%
ROCE
Stuck low
latest 8.0% · span 4.0%–16.0%

Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

Growth, year by year: revenue +22.1% in FY26, profit +222.2% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn. Turnaround-year spikes shown pinned (▲).
Revenue YoYProfit YoYEPS YoY
34%329%20%223%5.0%117%−9.5%11%−24%−95%%%22.1%222.2%FY16FY21FY26
34%329%20%223%5.0%117%−9.5%11%−24%−95%%%22.1%222.2%FY16FY21FY26
TTM growth by quarter Trailing-twelve-month growth versus the year-ago TTM, per quarter, %: revenue (left axis); profit and EPS (right axis). The acceleration read compares the last 4 quarters (+22.1%) with the last 8 annualized (+14.1%).
revenue accelerating, profit accelerating
Revenue TTM YoYProfit TTM YoYEPS TTM YoY
25%251%15%166%5.9%81%−3.4%−3.9%−13%−89%%%22.1%228%Jun 23Sep 24Mar 26
25%251%15%166%5.9%81%−3.4%−3.9%−13%−89%%%22.1%228%Jun 23Sep 24Mar 26
Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+22.1%+1.4%+10.3%+7.0%
Profit+222.2%−23.1%−9.2%+4.5%
EPS+221.5%−23.5%−9.2%+5.6%
Share price−0.6%−8.5%−5.4%+5.1%
Revenue YoY (Mar 26)
+27.4%
latest quarter vs a year ago
Profit YoY (Mar 26)
−4.4%
latest quarter vs a year ago
Revenue 10y
7.0%
long-run compound pace

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

04 · 4-Factor Sector Score

4-Factor Sector Score

64.8/100 — rank 2 of 20 in Sugar · 83% evidence confidence

Andhra Sugars Ltd scores 64.8 out of 100 against the 20 companies it is compared with in Sugar, ranking 2. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 27.1 + 15.3 + 13 + 9.4 = 64.8. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

05 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Andhra Sugars Ltd reported ₹637 Cr of revenue in the Mar 26 quarter, +27.4% year on year. That is the 7th straight quarter of year-on-year growth. Over 10 years it has compounded at 7.0% a year. The last full year, FY26, came in at ₹2,466 Cr. The last four reported quarters add to ₹2,466 Cr.

Andhra Sugars Ltd reported ₹637 Cr of revenue in the Mar 26 quarter, +27.4% year on year. That is the 7th straight quarter of year-on-year growth. Over 10 years it has compounded at 7.0% a year. The last full year, FY26, came in at ₹2,466 Cr. The last four reported quarters add to ₹2,466 Cr.

FY26 revenue came in at ₹2,466 Cr (+22.1% on the year), capping 10 years at 7.0% compound. The latest quarter (Mar 26) printed ₹637 Cr, +27.4% year on year — the 7th consecutive quarter of year-over-year growth.

FY26 revenue ₹2,466 Cr (+22.1% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
7.0% a year over 10 years
RevenueYoY growth
2.7k34%2.0k20%1.3k5.0%666−9.5%0−24%₹ Cr%₹2,46622.1%FY16FY21FY26
2.7k34%2.0k20%1.3k5.0%666−9.5%0−24%₹ Cr%₹2,46622.1%FY16FY21FY26
Mar 26: ₹637 Cr (+27.4% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
7th straight quarter of growth
Revenue (quarterly)YoY growth
68831%51618%3443.9%172−9.7%0−23%₹ Cr%₹63727.4%Jun 23Sep 24Mar 26
68831%51618%3443.9%172−9.7%0−23%₹ Cr%₹63727.4%Jun 23Sep 24Mar 26

Pace check: the last four quarters averaged +22.3% growth against the decade's 7.0% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +22.1% over the last 4 quarters against +14.1%/yr over the last 8 — accelerating; TTM profit +228.0% vs +7.1%/yr — accelerating.

→ Revenue grew — did margins hold as it scaled? Next: 7.5% this quarter (−1.8 pp YoY).

06 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Andhra Sugars Ltd's operating margin is 7.5% in the Mar 26 quarter, −1.8 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 5.0% to 22.0%. The current quarter sits inside that band.

Andhra Sugars Ltd's operating margin is 7.5% in the Mar 26 quarter, −1.8 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 5.0% to 22.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 7.5%, −1.8 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 5.0%–22.0%.

🚨 Why the margin moved: operating margin went −1.8 pp year on year while gross margin went −7.3 pp — the loss came mostly from the gross line: input costs and pricing.

FY26: 8.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 13-year window.
within a 5.0–22.0% band over 13 years
operating marginYoY change (pp)
23%8.2%18%3.8%14%−0.5%8.6%−4.8%3.6%−9.2%%%8%3%FY14FY20FY26
23%8.2%18%3.8%14%−0.5%8.6%−4.8%3.6%−9.2%%%8%3%FY14FY20FY26
Mar 26: 7.5% operating margin (−1.8 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
9.8%7.5%7.8%3.2%5.8%−1.2%3.8%−5.5%1.7%−9.9%%%7.5%−1.8%Jun 23Sep 24Mar 26
9.8%7.5%7.8%3.2%5.8%−1.2%3.8%−5.5%1.7%−9.9%%%7.5%−1.8%Jun 23Sep 24Mar 26

→ Margins slipped — did that reach the bottom line? Next: profit −4.4% in the latest quarter.

07 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Andhra Sugars Ltd earned ₹5.9 Cr of net profit in the Mar 26 quarter, −4.4% year on year. Full-year FY26 profit was ₹87.0 Cr. The 10-year compound rate is 4.5%. That is 0.9% of the quarter's revenue. The same quarter a year earlier earned ₹6.2 Cr. 1 of the last 12 reported quarters were loss-making.

Andhra Sugars Ltd earned ₹5.9 Cr of net profit in the Mar 26 quarter, −4.4% year on year. Full-year FY26 profit was ₹87.0 Cr. The 10-year compound rate is 4.5%. That is 0.9% of the quarter's revenue. The same quarter a year earlier earned ₹6.2 Cr. 1 of the last 12 reported quarters were loss-making.

Mar 26 profit was ₹5.9 Cr, −4.4% year on year. On the full year, FY26 printed ₹87.0 Cr (+222.2%), and the 10-year compound rate is 4.5%.

FY26 profit ₹87.0 Cr (+222.2% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
4.5% a year over 10 years
Net profitYoY growth
2665,945%1994,331%1332,718%661,104%0−510%₹ Cr%₹87222.2%FY16FY21FY26
2665,945%1994,331%1332,718%661,104%0−510%₹ Cr%₹87222.2%FY16FY21FY26
Mar 26: ₹5.9 Cr (−4.4% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
36621%26426%17231%736%−3−159%₹ Cr%₹6−4.4%Jun 23Sep 24Mar 26
36621%26426%17231%736%−3−159%₹ Cr%₹6−4.4%Jun 23Sep 24Mar 26

🚨 Why profit moved: revenue contributed +27.4% and the margin −1.8 pp — the quarter was revenue-led, with the margin roughly flat.

Pace comparison, last four quarters: profit +206.2% vs revenue +22.3%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

→ Profit rose — but did the cash follow? Next: 288% of the last 3 years' profit arrived as cash.

08 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 288% of Andhra Sugars Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹278 Cr of operating cash against ₹87.0 Cr of profit. After ₹47.0 Cr of capital spending, ₹231 Cr was left as free cash.

FY26: operating cash of ₹278 Cr against reported profit of ₹87.0 Cr, leaving free cash of ₹231 Cr after ₹47.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 288% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹278 Cr vs profit ₹87.0 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 11-year window, annual resolution.
288% of 3-year profit arrived as cash
Operating cashNet profitFree cash
309232154770₹ Cr₹278₹87₹231FY16FY21FY26
309232154770₹ Cr₹278₹87₹231FY16FY21FY26
FY26: CFO = 320% of profit (three-year rate 288%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash; outlier years shown pinned.
Conversion100%
319%249%180%110%40%%300%FY16FY21FY26
319%249%180%110%40%%300%FY16FY21FY26

Why conversion sits at 288%: the cash cycle tightened 147 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

→ So follow the cash to where it goes. Next: a 79-day cycle and ₹282 Cr of building.

09 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Andhra Sugars Ltd's cash conversion cycle runs 79 days in FY26, down from 226 days in FY21. Capital spending ran ₹282 Cr over the last 3 years. At FY26 sales of ₹2,466 Cr each day of that cycle holds about ₹6.8 Cr, so roughly ₹534 Cr sits inside the business at any moment.

FY26: debtors at 34 days, inventory at 76 days — roughly 2.5 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 79 days, tighter than FY21's 226.

The full loop: cash goes out to suppliers and production on day 0; stock waits 76 days to sell; customers pay about 34 days after that; and suppliers themselves are paid at 31 days — netting out to the 79-day cycle.

In money terms: at FY26 sales of ₹2,466 Cr, each day of the cycle holds about ₹6.8 Cr — so the 79-day loop keeps roughly ₹534 Cr sitting inside the business at any moment.

FY26: a 79-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 13-year window.
−147 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
35326317383−7days79d76d34d31dFY14FY17FY20FY23FY26
35326317383−7days79d76d34d31dFY14FY20FY26

On the investment side: capital spending of ₹282 Cr over the last 3 fiscal years against ₹240 Cr of depreciation — building somewhat ahead of wear-and-tear. Capital work-in-progress stands at ₹42.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹47.0 Cr, work-in-progress ₹42.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
steady investment
CapexWork-in-progress
242181121600₹ Cr₹47₹42FY16FY18FY21FY23FY26
242181121600₹ Cr₹47₹42FY16FY21FY26

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 8% and the ROIC − WACC spread is −5.6 pp.

10 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified

Andhra Sugars Ltd earns a ROCE of 8% in FY26. That is up from a trough of 3% in FY15. Return on invested capital clears the cost of that capital by −5.6 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 3.5% net margin on 1.13× asset turns.

FY26 ROCE is 8%, recovered from a FY15 trough of 3% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY26): 3.5% net margin × 1.13× asset turns × 1.30× balance-sheet leverage ≈ 5.1% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: 6.4% − 12.0% = a −5.6 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

FY26: ROCE 8% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 13-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY15's 3%
ROCEROIC (annual)WACC
23%17%11%5.4%−0.3%%8%6.3%FY14FY20FY26
23%17%11%5.4%−0.3%%8%6.3%FY14FY20FY26
Q4 FY26: ROCE 6.3% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
13%9.5%6.0%2.6%−0.9%%6.3%6%Q1 FY24Q2 FY25Q4 FY26
13%9.5%6.0%2.6%−0.9%%6.3%6%Q1 FY24Q2 FY25Q4 FY26

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.00.

11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

Andhra Sugars Ltd carries total debt of ₹1.0 Cr against shareholder equity of ₹1,771 Cr as of Mar 26, a debt-to-equity of 0.00 — effectively unlevered. On the annual view that ratio went from 0.03 in FY22 to 0.00 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of ₹1.0 Cr against shareholder equity of ₹1,771 Cr — a debt-to-equity of 0.00. On the annual view, debt-to-equity went from 0.03 (FY22) to 0.00 (FY26). The returns on this page are earned, not borrowed.

FY26: debt ₹1.0 Cr at 0.00× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 5-year window.
Total debtDebt-to-equity
590.032×450.024×300.015×150.006×0−0.002×₹ Cr×₹10.00×FY22FY24FY26
590.032×450.024×300.015×150.006×0−0.002×₹ Cr×₹10.00×FY22FY24FY26
Mar 26: debt ₹1.0 Cr, debt-to-equity 0.00 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
330.022×250.016×170.010×80.004×0−0.002×₹ Cr×₹10.00×Jun 23Sep 24Mar 26
330.022×250.016×170.010×80.004×0−0.002×₹ Cr×₹10.00×Jun 23Sep 24Mar 26

→ Who owns this, and are they adding or leaving? Next: Promoters added 3.3 points over 8 quarters.

12 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Promoters added 3.3 points of Andhra Sugars Ltd over 8 quarters, the biggest move on the register. That takes promoters to 50.5% of the company. Foreign institutions moved −0.1 points over the same window, to 2.9%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: +3.3 points over 8 quarters to 50.5%; Foreign institutions: −0.1 points over 8 quarters to 2.9%; Domestic institutions: +0.0 points over 8 quarters to 0.0%.

Why the register moved: promoters drove it (+3.3 points) — steady accumulation by institutions reading the same numbers this page reads.

Fiscal-year ends: promoters +3.3 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
55%40%25%11%−4.0%%50.5%2.5%0%47.0%Mar 24Mar 25Mar 26
55%40%25%11%−4.0%%50.5%2.5%0%47.0%Mar 24Mar 25Mar 26
Promoters added 3.3 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
55%40%25%11%−4.0%%50.5%2.9%0%46.6%Jun 23Dec 24Jun 26
55%40%25%11%−4.0%%50.5%2.9%0%46.6%Jun 23Dec 24Jun 26

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

13 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Andhra Sugars Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

Related companies · same sector · Sugar Every company is compared on the shape of its own curves, not static ratios. The Revenue, EPS and ROCE columns each draw that company's last 12 quarters as a mini line of the ACTUAL level (trailing-twelve-month revenue and EPS, and the ROCE itself) — so a line that climbs is a business getting bigger, a line that sinks is one shrinking. The colour tracks the same line: green when it is rising or steadily healthy, amber when it is rolling over from a high (still elevated but turning down), red when it is falling, grey when flat or stuck. Colour and direction always agree — a green line never points down. The ROCE curve is the return on capital (annual readings for peers, so a slightly coarser line than the quarterly one at the top of this page). The Stage column then runs the same 12-quarter trajectory classifier used at the top of the page on each company and names where it sits. What lands a company in each bucket: CONSISTENT — growth stays positive across the window and returns are healthy (ROCE ≥ 15%, or ROE ≥ 12% for lenders); IMPROVING — profit or EPS fell into real decline, bottomed a few quarters back, and has climbed back to positive and held there; TURNING AROUND — the same kind of trough but more recent, with the latest quarters just lifting off it (an early, unconfirmed turn); TOPPING OUT — growth is still positive but decelerating hard from its own peak while returns have stopped rising; DETERIORATING — two or more growth curves are shrinking (latest below zero) and staying there, not one soft quarter; MIXED — the curves genuinely disagree, or no clean majority, so no single word fits; NO READ — fewer than eight usable quarters. It is a like-for-like read of every company against its own past, not a ranking against the group.
CompanyP/EMkt capRevenueEPSROCEStage
Andhra Sugars Ltd this page11.7×₹1,170 CrMixed
DCM Shriram Ltd18.5×₹15,685 CrImproving
EID Parry (India) Ltd20.6×₹13,489 CrMixed
Balrampur Chini Mills Ltd34.1×₹12,890 CrMixed
Triveni Engineering and Industries Ltd19.6×₹5,480 CrNo read
Shree Renuka Sugars Ltd₹4,732 CrNo read
Bannari Amman Sugars Ltd29.7×₹4,391 CrMixed
Bajaj Hindusthan Sugar Ltd29.4×₹4,133 CrNo read
Dalmia Bharat Sugar & Industries Ltd12.7×₹2,930 CrMixed
M.V.K. Agro Food Product Ltd42.0×₹1,958 Cr
Godavari Biorefineries Ltd42.4×₹1,427 CrNo read
Avadh Sugar & Energy Ltd16.8×₹1,052 CrNo read
Dhampur Sugar Mills Ltd14.0×₹914 CrNo read
Uttam Sugar Mills Ltd8.6×₹871 CrNo read
Dwarikesh Sugar Industries Ltd₹803 CrNo read
Zuari Industries Ltd6.6×₹765 CrNo read
Magadh Sugar & Energy Ltd11.0×₹696 CrNo read
Dhampur Bio Organics Ltd26.5×₹678 CrNo read
Davangere Sugar Company Ltd58.6×₹499 CrMixed
DCM Shriram Industries Ltd8.2×₹498 CrDeteriorating
12 · Frequently asked questions

Frequently asked questions

What is Andhra Sugars Ltd's share price today?

Andhra Sugars Ltd trades at ₹82.8, −0.6% over the past year. The company is valued at ₹1,170 Cr. The stock sits at 46% of its 52-week range of ₹68–₹100, +1.6% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 12 weeks in. — as of 24 July 2026.

What were Andhra Sugars Ltd's latest quarterly results?

Andhra Sugars Ltd reported revenue of ₹637 Cr and net profit of ₹5.9 Cr for the Mar 26 quarter. Revenue rose 27.4% and profit fell 4.4% year on year. Earnings per share were ₹0.35. The operating margin was 7.5%, 1.8 pp lower than a year earlier. — as of 24 July 2026.

What is Andhra Sugars Ltd's revenue?

Andhra Sugars Ltd reported revenue of ₹637 Cr in the Mar 26 quarter, +27.4% year on year. For the full FY26 fiscal year, revenue was ₹2,466 Cr (+22.1%). Over the last 10 years revenue compounded at 7.0% a year. — as of 24 July 2026.

What is Andhra Sugars Ltd's profit?

Andhra Sugars Ltd earned ₹5.9 Cr of net profit in the Mar 26 quarter, −4.4% year on year. Full-year FY26 profit was ₹87.0 Cr. The operating margin ran 7.5% in the latest quarter. — as of 24 July 2026.

What is Andhra Sugars Ltd's market cap?

Andhra Sugars Ltd's market capitalisation is ₹1,170 Cr at a share price of ₹82.8. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.

What is Andhra Sugars Ltd's P/E ratio?

Andhra Sugars Ltd trades at a P/E of 11.7×, at the 63rd percentile of its own 10-year range, against a long-run median of 9.7×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.

Does Andhra Sugars Ltd pay a dividend?

Yes — Andhra Sugars Ltd's dividend payout was 20% of profit in FY26, and it recorded a payout in 12 of its last 13 reported fiscal years. One of those years shows a negative ratio because profit itself was negative. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.

Is Andhra Sugars Ltd overvalued?

On its own history, Andhra Sugars Ltd looks mid-range against its own history: its P/E of 11.7× sits at the 63rd percentile of its 10-year range (long-run median 9.7×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.

Is Andhra Sugars Ltd growing?

Not right now — Andhra Sugars Ltd's latest numbers are shrinking: latest-quarter revenue +27.4% year on year, profit −4.4%, and the margin −1.8 pp at 7.5%. The 10-year compound rates are 7.0% (revenue) and 4.5% (profit). The earnings engine currently reads: deteriorating — as of 24 July 2026.

How is Andhra Sugars Ltd performing?

Andhra Sugars Ltd is in a confirmed uptrend, 12 weeks in. Its latest quarter's revenue rose 27.4% and profit fell 4.4% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 6 weeks. This describes what the data did, not a rating. — as of 24 July 2026.

What stage is Andhra Sugars Ltd in?

Mixed — no clean majority across the growth curves, ROCE holding at 8.0% — the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +27.4% latest, profit growth −4.4% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.

Is Andhra Sugars Ltd in an uptrend?

Yes — the price is in a confirmed uptrend (week 12 of stage 2), trading +1.6% versus its 200-day average and at 46% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.

Is Andhra Sugars Ltd beating the market?

Not lately — on a trailing-13-week view Andhra Sugars Ltd is currently behind the NIFTY 500 (6 weeks and counting; last ahead the week of 2026-06-19), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.3 years the stock moved +241% against the NIFTY 500's +274% — behind the index over the full window. — as of 24 July 2026.

Will Andhra Sugars Ltd's share price go up?

This page publishes no price forecast for Andhra Sugars Ltd. What it measures instead: the share price is ₹82.8, the price is in a confirmed uptrend 12 weeks in. Its P/E of 11.7× sits at the 63rd percentile of its own 10-year range. — as of 24 July 2026.

Who owns Andhra Sugars Ltd?

Promoters hold 50.5% of Andhra Sugars Ltd, foreign institutions 2.9%, domestic institutions 0.0% and the public 46.6% (latest quarter). The biggest move on the register over the last two years: Promoters added 3.3 points over 8 quarters. — as of 24 July 2026.

Does Andhra Sugars Ltd have too much debt?

No — Andhra Sugars Ltd's debt-to-equity is 0.00, and operating profit covers the interest bill north of 100×. FY26 borrowings were ₹1.0 Cr against equity of ₹1,671 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.

What is Andhra Sugars Ltd's capex?

Andhra Sugars Ltd spent ₹282 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹47.0 Cr, with ₹42.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.

What is Andhra Sugars Ltd's cash flow?

Andhra Sugars Ltd generated ₹278 Cr of operating cash flow in FY26 and ₹231 Cr of free cash flow after ₹47.0 Cr of capital spending. Reported profit that year was ₹87.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 24 July 2026.

Is Andhra Sugars Ltd's profit real cash?

Yes — over the last 3 fiscal years, 288% of Andhra Sugars Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹278 Cr against reported profit of ₹87.0 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 24 July 2026.

Where is Andhra Sugars Ltd in its business cycle?

Andhra Sugars Ltd's FY26 operating margin was 8.0%, against a 13-year band of 5.0%–22.0%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran 7.5%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.

What could break the Andhra Sugars Ltd story?

The sharpest disagreement: annual EPS moved +221.5% against a −0.6% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.

Is Andhra Sugars Ltd a stock worth studying right now?

This is not investment advice. The machine read: Andhra Sugars Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.

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