Davangere Sugar Company Ltd
DAVANGEREDavangere Sugar Company Ltd's earnings have outrun its stock. EPS grew −25.0% in a year against a −47.8% price move.
The sharpest disagreement: profits are rising, but only −156% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.
The price is in a downtrend (102 weeks in) while the P/E sits at the 13th percentile of its own 5-year range. Underneath, the last four quarters read improving — profit +0.5% year on year, and −156% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.
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.
Davangere Sugar Company Ltd trades at ₹3.5, in a downtrend and 102 weeks into that stage. That is −19.2% against its own 200-day average. It sits at 20% of a 52-week range of ₹3 to ₹5. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (13 weeks and counting).
Today the stock is in a downtrend — week 102 of stage 4, confirmed. At ₹3.5 it trades −19.2% versus its 200-day average and sits at 20% of its 52-week range (₹3–₹5).
Against the market, two honest reads. Cumulative: over the last 5.3 years the stock moved +41% while the NIFTY 500 moved +87% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (13 weeks and counting; last ahead the week of 2026-05-22) — 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 13th percentile of its own range.
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.
Davangere Sugar Company Ltd trades at 58.6× P/E, near the bottom of its own range — cheaper only 13% of the time. Its long-run median P/E is 126.8×, measured across 5.3 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 58.6× is near the bottom of its own range — cheaper only 13% of the time, against a long-run median of 126.8× measured over 5.3 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved −25.0% against a −47.8% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the +5.0%/yr price move, ~+24.6%/yr came from earnings growth and ~−19.6 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 low against its own past, so the story rests on the earnings line underneath it, not the multiple.
→ 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.
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).
Davangere Sugar Company Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE holding at 6.0% — the per-curve reads carry the story. The read is built from 10 quarters across 3 curves, on partial evidence.
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.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +11.2% | −5.1% | +10.5% | — |
| Profit | −18.2% | −11.5% | +35.1% | — |
| EPS | −25.0% | −12.6% | +24.6% | — |
| Share price | −47.8% | −36.7% | +5.0% | — |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
36.8/100 — rank 17 of 20 in Sugar · 70% evidence confidence
Davangere Sugar Company Ltd scores 36.8 out of 100 against the 20 companies it is compared with in Sugar, ranking 17. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 13.7 + 10.4 + 8.5 + 4.2 = 36.8. 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.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Davangere Sugar Company Ltd reported ₹83.8 Cr of revenue in the Mar 26 quarter, +47.3% year on year. That is the 3rd straight quarter of year-on-year growth. Over 9 years it has compounded at 3.7% a year. The last full year, FY26, came in at ₹239 Cr. The last four reported quarters add to ₹239 Cr.
Davangere Sugar Company Ltd reported ₹83.8 Cr of revenue in the Mar 26 quarter, +47.3% year on year. That is the 3rd straight quarter of year-on-year growth. Over 9 years it has compounded at 3.7% a year. The last full year, FY26, came in at ₹239 Cr. The last four reported quarters add to ₹239 Cr.
FY26 revenue came in at ₹239 Cr (+11.2% on the year), capping 9 years at 3.7% compound. The latest quarter (Mar 26) printed ₹83.8 Cr, +47.3% year on year — the 3rd consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +8.9% growth against the decade's 3.7% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +11.1% over the last 4 quarters against +5.0%/yr over the last 8 — accelerating; TTM profit −22.3% vs −16.6%/yr — rolling over.
→ Revenue grew — did margins hold as it scaled? Next: 10.1% this quarter (−6.9 pp YoY).
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.
Davangere Sugar Company Ltd's operating margin is 10.1% in the Mar 26 quarter, −6.9 percentage points against the same quarter a year ago. Across 10 fiscal years the operating margin has ranged −4.0% to 28.0%. The current quarter sits inside that band.
Davangere Sugar Company Ltd's operating margin is 10.1% in the Mar 26 quarter, −6.9 percentage points against the same quarter a year ago. Across 10 fiscal years the operating margin has ranged −4.0% to 28.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 10.1%, −6.9 pp against the same quarter a year ago. Across 10 fiscal years the operating margin has ranged −4.0%–28.0%.
🚨 Why the margin moved: operating margin went −6.9 pp year on year while gross margin went −15.2 pp — the loss came mostly from the gross line: input costs and pricing.
→ Margins slipped — did that reach the bottom line? Next: profit +0.5% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Davangere Sugar Company Ltd earned ₹1.9 Cr of net profit in the Mar 26 quarter, +0.5% year on year. Full-year FY26 profit was ₹9.0 Cr. That is 2.3% of the quarter's revenue. The same quarter a year earlier earned ₹1.9 Cr.
Davangere Sugar Company Ltd earned ₹1.9 Cr of net profit in the Mar 26 quarter, +0.5% year on year. Full-year FY26 profit was ₹9.0 Cr. That is 2.3% of the quarter's revenue. The same quarter a year earlier earned ₹1.9 Cr.
Mar 26 profit was ₹1.9 Cr, +0.5% year on year. On the full year, FY26 printed ₹9.0 Cr (−18.2%).
Why profit moved: revenue contributed +47.3% and the margin −6.9 pp — the quarter was revenue-led despite a thinner margin.
Pace comparison, last four quarters: profit +20.3% vs revenue +8.9%. 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: −156% of the last 3 years' profit arrived as cash.
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 −156% of Davangere Sugar Company Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−47.0 Cr of operating cash against ₹9.0 Cr of profit. After ₹1.0 Cr of capital spending, ₹−48.0 Cr was left as free cash.
FY26: operating cash of ₹−47.0 Cr against reported profit of ₹9.0 Cr, leaving free cash of ₹−48.0 Cr after ₹1.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −156% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at −156%: the cash cycle stretched 308 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: conversion is below par and the cash cycle has stretched 308 days — the next section's job is to find where the cash is stuck.
→ So follow the cash to where it goes. Next: the 544-day cycle, in money terms.
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).
Davangere Sugar Company Ltd's cash conversion cycle runs 544 days in FY26, up from 236 days in FY21. Capital spending ran ₹25.0 Cr over the last 3 years. At FY26 sales of ₹239 Cr each day of that cycle holds about ₹0.7 Cr, so roughly ₹356 Cr sits inside the business at any moment.
FY26: debtors at 54 days, inventory at 530 days — roughly 17.4 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 544 days, looser than FY21's 236.
The full loop: cash goes out to suppliers and production on day 0; stock waits 530 days to sell; customers pay about 54 days after that; and suppliers themselves are paid at 40 days — netting out to the 544-day cycle.
In money terms: at FY26 sales of ₹239 Cr, each day of the cycle holds about ₹0.7 Cr — so the 544-day loop keeps roughly ₹356 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹25.0 Cr over the last 3 fiscal years against ₹38.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 6% and the ROIC − WACC spread is −8.4 pp.
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.
Davangere Sugar Company Ltd earns a ROCE of 6% in FY26. That is up from a trough of 1% in FY21. Return on invested capital clears the cost of that capital by −8.4 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 3.8% net margin on 0.28× asset turns.
FY26 ROCE is 6%, recovered from a FY21 trough of 1% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 3.8% net margin × 0.28× asset turns × 1.66× balance-sheet leverage ≈ 1.8% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 3.6% − 12.0% = a −8.4 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.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.50.
Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.
Davangere Sugar Company Ltd carries ₹250 Cr of borrowings against ₹505 Cr of equity in FY26, a debt-to-equity of 0.50. Operating profit covers the interest bill 2×. Over 5 years borrowings went from ₹132 Cr to ₹250 Cr. Capital spending ran ₹25.0 Cr across the last 3 of those years.
FY26: borrowings of ₹250 Cr against equity of ₹505 Cr — a debt-to-equity of 0.50. Operating profit covers the interest bill 2×. Over 5 years borrowings went from ₹132 Cr to ₹250 Cr while capital spending ran ₹25.0 Cr in just the last 3 — part of the build-out is riding on borrowed money.
→ Who owns this, and are they adding or leaving? Next: Promoters cut 28.9 points over 8 quarters.
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 cut 28.9 points of Davangere Sugar Company Ltd over 8 quarters, the biggest move on the register. That takes promoters to 41.8% of the company. Foreign institutions moved +7.0 points over the same window, to 7.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Promoters: −28.9 points over 8 quarters to 41.8%; Foreign institutions: +7.0 points over 8 quarters to 7.0%.
🚨 Why the register moved: promoters drove it (−28.9 points), absorbed on the other side by foreign institutions (+7.0 points) — distribution into the market’s bid.
→ One last check: does the safety math agree? Next: the balance-sheet 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.
Davangere Sugar Company 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.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Davangere Sugar Company Ltd this page | 58.6× | ₹499 Cr | Mixed | |||
| DCM Shriram Ltd | 18.5× | ₹15,685 Cr | Improving | |||
| EID Parry (India) Ltd | 20.6× | ₹13,489 Cr | Mixed | |||
| Balrampur Chini Mills Ltd | 34.1× | ₹12,890 Cr | Mixed | |||
| Triveni Engineering and Industries Ltd | 19.6× | ₹5,480 Cr | No read | |||
| Shree Renuka Sugars Ltd | — | ₹4,732 Cr | No read | |||
| Bannari Amman Sugars Ltd | 29.7× | ₹4,391 Cr | Mixed | |||
| Bajaj Hindusthan Sugar Ltd | 29.4× | ₹4,133 Cr | No read | |||
| Dalmia Bharat Sugar & Industries Ltd | 12.7× | ₹2,930 Cr | Mixed | |||
| M.V.K. Agro Food Product Ltd | 42.0× | ₹1,958 Cr | — | — | — | — |
| Godavari Biorefineries Ltd | 42.4× | ₹1,427 Cr | No read | |||
| Andhra Sugars Ltd | 11.7× | ₹1,170 Cr | Mixed | |||
| Avadh Sugar & Energy Ltd | 16.8× | ₹1,052 Cr | No read | |||
| Dhampur Sugar Mills Ltd | 14.0× | ₹914 Cr | No read | |||
| Uttam Sugar Mills Ltd | 8.6× | ₹871 Cr | No read | |||
| Dwarikesh Sugar Industries Ltd | — | ₹803 Cr | — | No read | ||
| Zuari Industries Ltd | 6.6× | ₹765 Cr | No read | |||
| Magadh Sugar & Energy Ltd | 11.0× | ₹696 Cr | No read | |||
| Dhampur Bio Organics Ltd | 26.5× | ₹678 Cr | No read | |||
| DCM Shriram Industries Ltd | 8.2× | ₹498 Cr | Deteriorating |
Frequently asked questions
What is Davangere Sugar Company Ltd's share price today?
Davangere Sugar Company Ltd trades at ₹3.5, −47.8% over the past year. The company is valued at ₹499 Cr. The stock sits at 20% of its 52-week range of ₹3–₹5, −19.2% versus its 200-day average. On the tape, the price is in a downtrend, 102 weeks in. — as of 24 July 2026.
What were Davangere Sugar Company Ltd's latest quarterly results?
Davangere Sugar Company Ltd reported revenue of ₹83.8 Cr and net profit of ₹1.9 Cr for the Mar 26 quarter. Revenue rose 47.3% and profit rose 0.5% year on year. Earnings per share were ₹0.01. The operating margin was 10.1%, 6.9 pp lower than a year earlier. — as of 24 July 2026.
What is Davangere Sugar Company Ltd's revenue?
Davangere Sugar Company Ltd reported revenue of ₹83.8 Cr in the Mar 26 quarter, +47.3% year on year. For the full FY26 fiscal year, revenue was ₹239 Cr (+11.2%). Over the last 9 years revenue compounded at 3.7% a year. — as of 24 July 2026.
What is Davangere Sugar Company Ltd's profit?
Davangere Sugar Company Ltd earned ₹1.9 Cr of net profit in the Mar 26 quarter, +0.5% year on year. Full-year FY26 profit was ₹9.0 Cr. The operating margin ran 10.1% in the latest quarter. — as of 24 July 2026.
What is Davangere Sugar Company Ltd's market cap?
Davangere Sugar Company Ltd's market capitalisation is ₹499 Cr at a share price of ₹3.5. 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 Davangere Sugar Company Ltd's P/E ratio?
Davangere Sugar Company Ltd trades at a P/E of 58.6×, at the 13th percentile of its own 5-year range, against a long-run median of 126.8×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Is Davangere Sugar Company Ltd overvalued?
On its own history, Davangere Sugar Company Ltd looks cheap against its own history: its P/E of 58.6× has been cheaper only 13% of the time in 5 years (long-run median 126.8×). 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 Davangere Sugar Company Ltd growing?
Yes — Davangere Sugar Company Ltd is growing: latest-quarter revenue +47.3% year on year, profit +0.5%, and the margin −6.9 pp at 10.1%. The earnings engine currently reads: improving — as of 24 July 2026.
How is Davangere Sugar Company Ltd performing?
Davangere Sugar Company Ltd is in a downtrend, 102 weeks in. Its latest quarter's revenue rose 47.3% and profit rose 0.5% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 13 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
What stage is Davangere Sugar Company Ltd in?
Mixed — no clean majority across the growth curves, ROCE holding at 6.0% — the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +47.3% latest, profit growth +0.5% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.
Is Davangere Sugar Company Ltd in an uptrend?
No — the price is in a downtrend (week 102 of stage 4), trading −19.2% versus its 200-day average and at 20% 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 Davangere Sugar Company Ltd beating the market?
Not lately — on a trailing-13-week view Davangere Sugar Company Ltd is currently behind the NIFTY 500 (13 weeks and counting; last ahead the week of 2026-05-22), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 5.3 years the stock moved +41% against the NIFTY 500's +87% — behind the index over the full window. — as of 24 July 2026.
Will Davangere Sugar Company Ltd's share price go up?
This page publishes no price forecast for Davangere Sugar Company Ltd. What it measures instead: the share price is ₹3.5, the price is in a downtrend 102 weeks in. Its P/E of 58.6× sits at the 13th percentile of its own 5-year range. — as of 24 July 2026.
Who owns Davangere Sugar Company Ltd?
Promoters hold 41.8% of Davangere Sugar Company Ltd, foreign institutions 7.0%, domestic institutions null% and the public 51.2% (latest quarter). The biggest move on the register over the last two years: Promoters cut 28.9 points over 8 quarters. — as of 24 July 2026.
Does Davangere Sugar Company Ltd have too much debt?
It is moderate — Davangere Sugar Company Ltd's debt-to-equity is 0.50, and operating profit covers the interest bill 2×. FY26 borrowings were ₹250 Cr against equity of ₹505 Cr. Read the returns on this page with that leverage in mind — as of 24 July 2026.
What is Davangere Sugar Company Ltd's capex?
Davangere Sugar Company Ltd spent ₹25.0 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 ₹1.0 Cr, with ₹0.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Davangere Sugar Company Ltd's cash flow?
Davangere Sugar Company Ltd generated ₹−47.0 Cr of operating cash flow in FY26 and ₹−48.0 Cr of free cash flow after ₹1.0 Cr of capital spending. Reported profit that year was ₹9.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Davangere Sugar Company Ltd's profit real cash?
Not fully — over the last 3 fiscal years, −156% of Davangere Sugar Company Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹−47.0 Cr against reported profit of ₹9.0 Cr. The cash then goes mostly into the working-capital cycle. Cash-flow resolution is annual — as of 24 July 2026.
Where is Davangere Sugar Company Ltd in its business cycle?
Davangere Sugar Company Ltd's FY26 operating margin was 20.0%, against a 10-year band of −4.0%–28.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 10.1%. 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 Davangere Sugar Company Ltd story?
The sharpest disagreement: profits are rising, but only −156% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. 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 Davangere Sugar Company Ltd a stock worth studying right now?
This is not investment advice. The machine read: Davangere Sugar Company Ltd's earnings have outrun its stock. EPS grew −25.0% in a year against a −47.8% price move. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.