Sector Alpha Week of 2026-09-17
Not SEBI Registered !! Not Investment advice !!
20-quarter listed-company comparison

Sugar Stocks in India

Sugar: EID Parry (India) Ltd owns the largest revenue base; Ugar Sugar Works Ltd has the fastest current growth.

The 21 Sugar companies listed in India are DCM Shriram Ltd (₹15.6K Cr, the largest), Balrampur Chini Mills Ltd, EID Parry (India) Ltd and 18 more. 12 of 21 covered companies beat NIFTY 500 on relative strength. Readings are as of 17 Sep 2026.

Top 10 Sugar Stocks in India (Sep 2026) — ranked by 4-Factor score

  1. 1Andhra Sugars Ltd₹1.3K Cr73.8/100Favorable setup · strongest on profit growth and ROCE improvement
  2. 2DCM Shriram Ltd₹15.6K Cr61.0/100Mixed-positive evidence · strongest on PEG and profit growth
  3. 3Ugar Sugar Works Ltd₹611 Cr60.2/100Thin evidence · provisional · strongest on ROCE improvement and margin improvement
  4. 4Dhampur Sugar Mills Ltd₹1.1K Cr56.9/100Mixed-positive evidence · strongest on profit growth and relative strength versus sector
  5. 5Uttam Sugar Mills Ltd₹1.1K Cr52.1/100Mixed-positive evidence · strongest on financial resilience and ROCE improvement
  6. 6M.V.K. Agro Food Product Ltd₹1.5K Cr52.1/100Thin evidence · provisional · strongest on relative strength versus sector and ROCE
  7. 7Triveni Engineering and Industries Ltd₹5.6K Cr51.9/100Mixed-positive evidence · strongest on profit growth and margin improvement
  8. 8Avadh Sugar & Energy Ltd₹1.5K Cr51.9/100Mixed-positive evidence · strongest on relative strength versus sector and 13-week relative-strength change
  9. 9EID Parry (India) Ltd₹12.8K Cr50.3/100Mixed-positive evidence · strongest on ROCE and revenue growth
  10. 10Balrampur Chini Mills Ltd₹14.6K Cr50.0/100Mixed-positive evidence · strongest on relative strength versus sector and 13-week relative-strength change

Ranked by the 4-Factor Sector Score (growth & earnings 35, capital efficiency 25, valuation 20, relative strength 20). Prices as of 11 Sep 2026. Not investment advice.

01 · the index people search for

Nifty Sugar Index — Constituents & Performance

The largest 15 of 21 listed Indian Sugar companies are named here; all 21 are ranked in the scorecard — the constituent set people search for as the Nifty Sugar index. Every figure is equal-weighted across those companies and carries its own as-of date. One large constituent cannot set the reading.

  1. DCM Shriram Ltd₹15.6K Cr
  2. Balrampur Chini Mills Ltd₹14.6K Cr
  3. EID Parry (India) Ltd₹12.8K Cr
  4. Triveni Engineering and Industries Ltd₹5.6K Cr
  5. Shree Renuka Sugars Ltd₹5.3K Cr
  6. Bajaj Hindusthan Sugar Ltd₹5.0K Cr
  7. Bannari Amman Sugars Ltd₹4.4K Cr
  8. Dalmia Bharat Sugar & Industries Ltd₹3.4K Cr
  9. Avadh Sugar & Energy Ltd₹1.5K Cr
  10. M.V.K. Agro Food Product Ltd₹1.5K Cr
  11. Andhra Sugars Ltd₹1.3K Cr
  12. Godavari Biorefineries Ltd₹1.2K Cr
  13. Uttam Sugar Mills Ltd₹1.1K Cr
  14. Dhampur Sugar Mills Ltd₹1.1K Cr
  15. Dwarikesh Sugar Industries Ltd₹829 Cr

The remaining 6 Sugar companies are named and ranked in the scorecard.

02 · the sector itself · before any single company

How has Sugar moved against NIFTY 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this sector is 3% ahead of NIFTY 500. Earnings across its companies grew 7% on average over the last four reported quarters — close to flat. It has been ahead of NIFTY 500 on a rolling three-month view for 4 weeks running.

TURNING · ahead 4w~Moving with the index12 of the 19 companies with a long enough price record ahead of NIFTY 500 by 5% or more over three months

RS ↑4w · 14/19 >200d (+3) · 12/19 lead (+3) · EPS 10/18↑

20030040020262025202420232022 356303 TRAILING 12-MONTH EPS · 100 AT THE START0100Dec 23Jun 24Dec 24Jun 25Dec 25Jun 26Sep 2023 · trailing 12-month earnings per share at 100, against 100 at the start · up 43.9% on a year ago · 11 reportingDec 2023 · trailing 12-month earnings per share at 100, against 100 at the start · up 53.2% on a year ago · 11 reportingMar 2024 · trailing 12-month earnings per share at 92, against 100 at the start · up 6.2% on a year ago · 14 reportingJun 2024 · trailing 12-month earnings per share at 85, against 100 at the start · up 10.5% on a year ago · 15 reportingSep 2024 · trailing 12-month earnings per share at 58, against 100 at the start · down 22.9% on a year ago · 15 reportingDec 2024 · trailing 12-month earnings per share at 48, against 100 at the start · down 46.2% on a year ago · 15 reportingMar 2025 · trailing 12-month earnings per share at 58, against 100 at the start · down 33.2% on a year ago · 15 reportingJun 2025 · trailing 12-month earnings per share at 51, against 100 at the start · down 32.8% on a year ago · 15 reportingSep 2025 · trailing 12-month earnings per share at 73, against 100 at the start · down 6.5% on a year ago · 16 reportingDec 2025 · trailing 12-month earnings per share at 87, against 100 at the start · up 27.7% on a year ago · 16 reportingMar 2026 · trailing 12-month earnings per share at 69, against 100 at the start · up 13.5% on a year ago · 16 reportingJun 2026 · trailing 12-month earnings per share at 67, against 100 at the start · down 8.7% on a year ago · 16 reportingNot reported yet — earnings trail price by a quarter or two67No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
20030040020262025202420232022 356303 TRAILING 12-MONTH EPS · 100 AT THE START0100Jun 24Jun 25Jun 26Sep 2023 · trailing 12-month earnings per share at 100, against 100 at the start · up 43.9% on a year ago · 11 reportingDec 2023 · trailing 12-month earnings per share at 100, against 100 at the start · up 53.2% on a year ago · 11 reportingMar 2024 · trailing 12-month earnings per share at 92, against 100 at the start · up 6.2% on a year ago · 14 reportingJun 2024 · trailing 12-month earnings per share at 85, against 100 at the start · up 10.5% on a year ago · 15 reportingSep 2024 · trailing 12-month earnings per share at 58, against 100 at the start · down 22.9% on a year ago · 15 reportingDec 2024 · trailing 12-month earnings per share at 48, against 100 at the start · down 46.2% on a year ago · 15 reportingMar 2025 · trailing 12-month earnings per share at 58, against 100 at the start · down 33.2% on a year ago · 15 reportingJun 2025 · trailing 12-month earnings per share at 51, against 100 at the start · down 32.8% on a year ago · 15 reportingSep 2025 · trailing 12-month earnings per share at 73, against 100 at the start · down 6.5% on a year ago · 16 reportingDec 2025 · trailing 12-month earnings per share at 87, against 100 at the start · up 27.7% on a year ago · 16 reportingMar 2026 · trailing 12-month earnings per share at 69, against 100 at the start · up 13.5% on a year ago · 16 reportingJun 2026 · trailing 12-month earnings per share at 67, against 100 at the start · down 8.7% on a year ago · 16 reportingNot reported yet — earnings trail price by a quarter or two67No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
Sugar, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling

Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of 19 of its 21 companies — the 2 with too short a price record are ranked in the scorecard but cannot sit in this line. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

03 · sector relative strength, before individual stocks

Is Sugar outperforming NIFTY 500?

Sugar has outperformed NIFTY 500 by 13.6% over the last 52 weeks. Over 13 weeks the gap is a lead of 13.8%. 12 of 21 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Avadh Sugar & Energy Ltd is the strongest against the sector itself at +51.4%. Readings are as of 2026-08-22.

+13.8%Sector vs NIFTY 500 · 13 weeks
+13.6%Sector vs NIFTY 500 · 52 weeks
12/21Stocks leading NIFTY 500
7/19Stocks leading sector

Sector metric: 26.6 as of 2026-08-22 · LEADERS · rising.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Sugar has outperformed NIFTY 500 by 13.6% over 52 weeks and 13.8% over 13 weeks. 12 of 21 covered companies beat NIFTY on Mansfield relative strength, while 7 of 19 beat the sector itself. EID Parry (India) Ltd leads with revenue of ₹38,836 crore, based on 21 of 21 comparable companies through Jun 2026.

Companies
21
complete canonical membership
Combined market value
₹79.3K Cr
DCM Shriram Ltd
Revenue growing
13/20
positive TTM year-on-year growth
Beating NIFTY 500
12/21
positive Mansfield relative strength
Comparing 5 of 21
04 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Andhra Sugars Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 87% evidence confidence.
Avadh Sugar & Energy Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.
How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Andhra Sugars LtdANDHRSUGAR 73.8/100Favorable setup87% evidence BREAKING OUT 31.7/35 Revenue 16.5% · PAT 100% · OPM change 3 pp 95% evidence 14.8/25 ROCE 8.4% · OPM 12% 95% evidence 12.9/20 P/E 11.1× · PEG — 50% evidence 14.4/20 RS sector 6.8% · RS bench 19.6% · 1Y 25.7%6 of 12 weeks ahead 100% evidence
Exact sum: 31.7 + 14.8 + 12.9 + 14.4 = 73.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2DCM Shriram LtdDCMSHRIRAM 61.0/100Mixed-positive evidence100% evidence BASING 24.3/35 Revenue 11.1% · PAT 100% · OPM change 0 pp 100% evidence 14.7/25 ROCE 11.5% · OPM 9% 100% evidence 18.3/20 P/E 11.4× · PEG 0.44 100% evidence 3.7/20 RS sector -20.5% · RS bench -10.3% · 1Y -19.6%0 of 12 weeks ahead 100% evidence
Exact sum: 24.3 + 14.7 + 18.3 + 3.7 = 61 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -20.5% and the one-year return is -19.6%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
3Ugar Sugar Works LtdUGARSUGAR 60.2/100Thin evidence · provisional59% evidence 26.9/35 Revenue 17.2% · PAT 100% · OPM change 4.1 pp 71% evidence 10.5/25 ROCE 9% · OPM 5.6% 76% evidence 10.6/20 P/E 21.2× · PEG — 50% evidence 12.2/20 RS sector — · RS bench 31.2% · 1Y — 25% evidence
Exact sum: 26.9 + 10.5 + 10.6 + 12.2 = 60.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
4Dhampur Sugar Mills LtdDHAMPURSUG 56.9/100Mixed-positive evidence87% evidence BREAKING OUT 21.3/35 Revenue 1.3% · PAT 36.3% · OPM change 1.3 pp 95% evidence 9.8/25 ROCE 6.4% · OPM 5.7% 95% evidence 10.0/20 P/E 15× · PEG — 50% evidence 15.8/20 RS sector 8% · RS bench 20.9% · 1Y 19%5 of 12 weeks ahead 100% evidence
Exact sum: 21.3 + 9.8 + 10 + 15.8 = 56.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Uttam Sugar Mills LtdUTTAMSUGAR 52.1/100Mixed-positive evidence74% evidence BREAKING OUT 16.5/35 Revenue 7.8% · PAT -7.6% · OPM change -3.7 pp 95% evidence 15.2/25 ROCE 11.4% · OPM 4.3% 95% evidence 10.9/20 P/E 12.1× · PEG — 15% evidence 9.5/20 RS sector -9.1% · RS bench 17.4% · 1Y 5.8%5 of 10 weeks ahead 70% evidence
Exact sum: 16.5 + 15.2 + 10.9 + 9.5 = 52.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6M.V.K. Agro Food Product LtdMVKAGRO 52.1/100Thin evidence · provisional57% evidence BASING 13.3/35 Revenue — · PAT — · OPM change -7.5 pp 45% evidence 17.5/25 ROCE 14.4% · OPM 10.8% 95% evidence 9.6/20 P/E 30.5× · PEG — 15% evidence 11.7/20 RS sector 33.8% · RS bench -40.7% · 1Y -19%0 of 10 weeks ahead 70% evidence
Exact sum: 13.3 + 17.5 + 9.6 + 11.7 = 52.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
7Triveni Engineering and Industries LtdTRIVENI 51.9/100Mixed-positive evidence82% evidence BREAKING OUT 21.8/35 Revenue 4% · PAT 29.1% · OPM change 1 pp 95% evidence 12.2/25 ROCE 9% · OPM 3.4% 76% evidence 8.0/20 P/E 21.5× · PEG — 50% evidence 9.9/20 RS sector -1.3% · RS bench 10.7% · 1Y 16%8 of 12 weeks ahead 100% evidence
Exact sum: 21.8 + 12.2 + 8 + 9.9 = 51.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8Avadh Sugar & Energy LtdAVADHSUGAR 51.9/100Mixed-positive evidence79% evidence BREAKING OUT 14.5/35 Revenue 4.2% · PAT -6.9% · OPM change 0.7 pp 71% evidence 10.1/25 ROCE 6.8% · OPM 4.7% 95% evidence 7.3/20 P/E 22.9× · PEG — 50% evidence 20.0/20 RS sector 51.4% · RS bench 68.4% · 1Y 69.5%9 of 12 weeks ahead 100% evidence
Exact sum: 14.5 + 10.1 + 7.3 + 20 = 51.9 · Decision use: Price leads the evidence: RS versus the benchmark is 68.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
9EID Parry (India) LtdEIDPARRY 50.3/100Mixed-positive evidence76% evidence TURNING 17.5/35 Revenue 15.7% · PAT -38.9% · OPM change -1 pp 95% evidence 18.0/25 ROCE 17% · OPM 8% 76% evidence 10.3/20 P/E 15.8× · PEG — 50% evidence 4.5/20 RS sector -20.5% · RS bench -16.7% · 1Y -35.2%1 of 10 weeks ahead 70% evidence
Exact sum: 17.5 + 18 + 10.3 + 4.5 = 50.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10Balrampur Chini Mills LtdBALRAMCHIN 50.0/100Mixed-positive evidence100% evidence BREAKING OUT 15.6/35 Revenue 15% · PAT -11.2% · OPM change -2 pp 100% evidence 13.3/25 ROCE 9.3% · OPM 7% 100% evidence 2.2/20 P/E 39.4× · PEG 2.21 100% evidence 18.9/20 RS sector 22.8% · RS bench 37.4% · 1Y 25.8%11 of 12 weeks ahead 100% evidence
Exact sum: 15.6 + 13.3 + 2.2 + 18.9 = 50 · Decision use: Price leads the evidence: RS versus the benchmark is 37.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
11Dhampur Bio Organics LtdDBOL 50.0/100Mixed-positive evidence72% evidence BREAKING OUT 21.5/35 Revenue 8% · PAT 100% · OPM change -0.1 pp 71% evidence 7.2/25 ROCE 5% · OPM 1.7% 95% evidence 9.4/20 P/E 30.8× · PEG — 15% evidence 11.9/20 RS sector 7.7% · RS bench 20.4% · 1Y 39%3 of 12 weeks ahead 100% evidence
Exact sum: 21.5 + 7.2 + 9.4 + 11.9 = 50 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12Dalmia Bharat Sugar & Industries LtdDALMIASUG 47.9/100Mixed-negative evidence100% evidence BREAKING OUT 7.2/35 Revenue -5.2% · PAT -44.1% · OPM change -4.4 pp 100% evidence 9.9/25 ROCE 8.2% · OPM 5.1% 100% evidence 12.9/20 P/E 16.5× · PEG 0.55 100% evidence 17.9/20 RS sector 9.7% · RS bench 22.6% · 1Y 9.7%5 of 12 weeks ahead 100% evidence
Exact sum: 7.2 + 9.9 + 12.9 + 17.9 = 47.9 · Decision use: Price leads the evidence: RS versus the benchmark is 22.6%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
13Zuari Industries LtdZUARIIND 39.9/100Mixed-negative evidence66% evidence TURNING 16.1/35 Revenue 9.7% · PAT 100% · OPM change -5.3 pp 71% evidence 7.6/25 ROCE 5.5% · OPM 4.5% 95% evidence 11.5/20 P/E 7× · PEG — 15% evidence 4.7/20 RS sector -26.8% · RS bench -1.7% · 1Y -9.1%4 of 10 weeks ahead 70% evidence
Exact sum: 16.1 + 7.6 + 11.5 + 4.7 = 39.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
14Magadh Sugar & Energy LtdMAGADSUGAR 38.8/100Mixed-negative evidence79% evidence BREAKING OUT 8.2/35 Revenue -5.7% · PAT -46.9% · OPM change -5.8 pp 71% evidence 8.5/25 ROCE 7.8% · OPM 0.2% 95% evidence 9.4/20 P/E 14.8× · PEG — 50% evidence 12.7/20 RS sector -1.5% · RS bench 10.6% · 1Y -4.3%5 of 12 weeks ahead 100% evidence
Exact sum: 8.2 + 8.5 + 9.4 + 12.7 = 38.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
15Davangere Sugar Company LtdDAVANGERE 37.1/100Mixed-negative evidence70% evidence 14.3/35 Revenue 11.1% · PAT -22.3% · OPM change -6.9 pp 83% evidence 10.3/25 ROCE 5.6% · OPM 10.1% 95% evidence 8.5/20 P/E 58.6× · PEG — 15% evidence 4.0/20 RS sector -25% · RS bench -12.6% · 1Y -12.3%0 of 2 weeks ahead to 2026-07-19 70% evidence
Exact sum: 14.3 + 10.3 + 8.5 + 4 = 37.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16Bannari Amman Sugars LtdBANARISUG 35.4/100Mixed-negative evidence100% evidence ASLEEP 11.0/35 Revenue -7.6% · PAT 8% · OPM change -12 pp 100% evidence 10.2/25 ROCE 8.8% · OPM -3% 100% evidence 9.3/20 P/E 36.2× · PEG 1.75 100% evidence 4.9/20 RS sector -12.1% · RS bench -1.1% · 1Y -3.7%2 of 12 weeks ahead 100% evidence
Exact sum: 11 + 10.2 + 9.3 + 4.9 = 35.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17Godavari Biorefineries LtdGODAVARIB 35.1/100Mixed-negative evidence72% evidence BASING 18.0/35 Revenue 7% · PAT 100% · OPM change -1 pp 71% evidence 7.2/25 ROCE 6.5% · OPM 0.1% 95% evidence 8.8/20 P/E 41.2× · PEG — 15% evidence 1.1/20 RS sector -24% · RS bench -14.6% · 1Y -17.7%0 of 12 weeks ahead 100% evidence
Exact sum: 18 + 7.2 + 8.8 + 1.1 = 35.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
18Bajaj Hindusthan Sugar LtdBAJAJHIND 32.0/100Adverse evidence78% evidence TURNING 12.8/35 Revenue -1.9% · PAT 100% · OPM change -8.9 pp 74% evidence 1.2/25 ROCE 3.1% · OPM -11% 100% evidence 10.3/20 P/E 38.6× · PEG 1.32 65% evidence 7.7/20 RS sector -21% · RS bench 12.8% · 1Y -1%4 of 11 weeks ahead 70% evidence
Exact sum: 12.8 + 1.2 + 10.3 + 7.7 = 32 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
19Shree Renuka Sugars LtdRENUKA 28.7/100Adverse evidence71% evidence TURNING 10.0/35 Revenue -5.1% · PAT -80% · OPM change 0.7 pp 74% evidence 0.5/25 ROCE -3.1% · OPM -3.6% 100% evidence 10.0/20 P/E — · PEG — 0% evidence 8.2/20 RS sector -12.8% · RS bench -1.8% · 1Y -22.6%2 of 12 weeks ahead 100% evidence
Exact sum: 10 + 0.5 + 10 + 8.2 = 28.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
20Dwarikesh Sugar Industries LtdDWARKESH 28.4/100Adverse evidence72% evidence TURNING 9.6/35 Revenue -4.8% · PAT -45.8% · OPM change -8 pp 71% evidence 2.5/25 ROCE 4.6% · OPM -7% 95% evidence 8.7/20 P/E 57.2× · PEG — 15% evidence 7.6/20 RS sector -3.4% · RS bench 8.2% · 1Y 0.4%2 of 12 weeks ahead 100% evidence
Exact sum: 9.6 + 2.5 + 8.7 + 7.6 = 28.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
21DCM Shriram Industries LtdDCMSRIND 43.3/100Thin evidence · provisional48% evidence 12.5/35 Revenue -3.7% · PAT -50% · OPM change -6.8 pp 45% evidence 14.6/25 ROCE 13.7% · OPM 1.8% 71% evidence 8.4/20 P/E 8.2× · PEG — 50% evidence 7.8/20 RS sector — · RS bench -16.3% · 1Y — 25% evidence
Exact sum: 12.5 + 14.6 + 8.4 + 7.8 = 43.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
Showing 10 of 21 companies
05 · what price has already done

Market action

Avadh Sugar & Energy Ltd has the strongest one-year price move in Sugar at +69.5%. It also leads on Mansfield relative strength against NIFTY at +68.4%. 12 of 21 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-09-11.

Price and relative strength

Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

06 · the story behind the numbers

Sugar — the story behind the numbers

This is the written read behind the Sugar figures above — what is actually happening in the sector, in words, with the evidence each claim rests on. It is dated 25 Jul 2026. 4 themes are live here, 2 of them rated high severity.

The Sugar sector, represented by BAJAJHIND for this reporting week, exhibits a dichotomy of operational recovery and persistent governance overhangs. BAJAJHIND reported consolidated revenue of ₹1,679.71 crore for Q4 FY26, a 7.5% increase YoY.

How old this read is: This read comes from our Sugar sector brief dated 25 Jul 2026 — 54 days old. The numbers above it are newer than the words here.

What is live in this sector right now

Live themeSeverityEvidence on file
SEBI rejected preliminary objections on jurisdiction; probe into non-disclosure of related-party transactions between FY11 and FY22 proceeds on merits.Named for BAJAJHINDhigh“SEBI rejected preliminary objections on jurisdiction; probe into non-disclosure of related-party transactions between FY11 and FY22 proceeds on merits.” Noticees sought adjudication of preliminary objections regarding jurisdictional facts before merits.
SEBI adjudication proceedings continue regarding alleged fund diversion of ₹318.50 crore and ₹870.60 crore through related parties during FY11-FY22.Named for BAJAJHINDhigh“SEBI adjudication proceedings continue regarding alleged fund diversion of ₹318.50 crore and ₹870.60 crore through related parties during FY11-FY22.” Company argued forensic audits by Deloitte and Mazars found no diversion, but SEBI rejected jurisdiction plea.
Industry is cyclical and vulnerable to government policies fixing raw material prices via State Advised Prices (SAP) and Fair & Remunerative Prices (FRP).Named for BAJAJHINDmedium“Industry is cyclical and vulnerable to government policies fixing raw material prices via State Advised Prices (SAP) and Fair & Remunerative Prices (FRP).” Company diversified into ethanol and power to de-risk core sugar business.
Allahabad High Court ordered the company to pay farmer's cane dues, indicating ongoing liability towards sugarcane suppliers which impacts liquidity.Named for BAJAJHINDmedium“Allahabad High Court ordered the company to pay farmer's cane dues, indicating ongoing liability towards sugarcane suppliers which impacts liquidity.”

Sources: our Sugar sector brief, 25 Jul 2026 · company earnings-call transcripts.

07 · compare level, then change

Revenue Scale & Growth Durability

EID Parry (India) Ltd has the highest Revenue among the 21 Sugar companies compared here, at ₹38,836 crore. DCM Shriram Ltd is next at ₹13,840 crore. Ugar Sugar Works Ltd has the highest Revenue growth at 17.2%, so level and change sit with different companies. 21 of 21 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: EID Parry (India) Ltd is the scale leader at ₹38,836 crore, 180.6% ahead of DCM Shriram Ltd. Ugar Sugar Works Ltd's growth is 17.2% from a ₹1,606 crore base, with 13 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderEID Parry (India) Ltd · ₹38,836 crore
Gap180.6% versus #2 · DCM Shriram Ltd
Persistence8/8 recent comparable periods
Coverage21/21 companies · 325 observations

Investor read: EID Parry (India) Ltd is the scale benchmark; Ugar Sugar Works Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: EID Parry (India) Ltd's growth falls below Ugar Sugar Works Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1EID Parry (India) Ltd EIDPARRY₹38.8K Cr
2DCM Shriram Ltd DCMSHRIRAM₹13.8K Cr
3Shree Renuka Sugars Ltd RENUKA₹9.4K Cr
4Balrampur Chini Mills Ltd BALRAMCHIN₹6.4K Cr
5Triveni Engineering and Industries Ltd TRIVENI₹6.2K Cr
Revenue growthfastest growers
1Ugar Sugar Works Ltd UGARSUGAR17%
2Andhra Sugars Ltd ANDHRSUGAR⚠ unverified17%
3EID Parry (India) Ltd EIDPARRY16%
4Balrampur Chini Mills Ltd BALRAMCHIN15%
5Davangere Sugar Company Ltd DAVANGERE11%
Revenue · company comparison
21/21 level · 20/21 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyRevenueRevenue growthReported
EID Parry (India) Ltd EIDPARRY₹9.0K Cr3.4%Jun 2026
DCM Shriram Ltd DCMSHRIRAM₹3.6K Cr9.3%Jun 2026
Shree Renuka Sugars Ltd RENUKA₹2.1K Cr5.5%Jun 2026
Balrampur Chini Mills Ltd BALRAMCHIN₹1.6K Cr6.2%Jun 2026
Triveni Engineering and Industries Ltd TRIVENI₹1.6K Cr2.1%Jun 2026
Bajaj Hindusthan Sugar Ltd BAJAJHIND₹1.1K Cr-9.8%Jun 2026
Dalmia Bharat Sugar & Industries Ltd DALMIASUG₹848 Cr-9.9%Jun 2026
Avadh Sugar & Energy Ltd AVADHSUGAR⚠ unverified₹779 Cr8.7%Jun 2026
Andhra Sugars Ltd ANDHRSUGAR⚠ unverified₹627 Cr4.5%Jun 2026
Uttam Sugar Mills Ltd UTTAMSUGAR⚠ unverified₹606 Cr-3.6%Jun 2026
Godavari Biorefineries Ltd GODAVARIB⚠ unverified₹558 Cr4.7%Jun 2026
Dhampur Sugar Mills Ltd DHAMPURSUG⚠ unverified₹553 Cr6.0%Jun 2026
Dhampur Bio Organics Ltd DBOL⚠ unverified₹533 Cr8.3%Jun 2026
DCM Shriram Industries Ltd DCMSRIND₹527 Cr-1.2%Sep 2025
Ugar Sugar Works Ltd UGARSUGAR₹478 Cr34%Jun 2026
Dwarikesh Sugar Industries Ltd DWARKESH⚠ unverified₹358 Cr-12%Jun 2026
Zuari Industries Ltd ZUARIIND⚠ unverified₹312 Cr21%Jun 2026
Magadh Sugar & Energy Ltd MAGADSUGAR⚠ unverified₹311 Cr-6.6%Jun 2026
Bannari Amman Sugars Ltd BANARISUG₹172 Cr-59%Jun 2026
Davangere Sugar Company Ltd DAVANGERE₹84 Cr47%Mar 2026
M.V.K. Agro Food Product Ltd MVKAGRO⚠ unverified₹66 Cr106%Jun 2026
Full 20-quarter history · every available company

Revenue · reported quarter history

Showing the 12 largest of 21 companies with a series here. The remaining 9 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Andhra Sugars Ltd · ANDHRSUGAR⚠ unverified

—
—
—
—
—
₹559 Cr
₹539 Cr
₹492 Cr
₹518 Cr
₹451 Cr
₹433 Cr
₹480 Cr
₹528 Cr
₹511 Cr
₹500 Cr
₹600 Cr
₹597 Cr
₹631 Cr
₹637 Cr
₹627 Cr

Avadh Sugar & Energy Ltd · AVADHSUGAR⚠ unverified

—
—
—
—
—
₹675 Cr
₹846 Cr
₹682 Cr
₹798 Cr
₹594 Cr
₹620 Cr
₹708 Cr
₹632 Cr
₹617 Cr
₹679 Cr
₹717 Cr
₹668 Cr
₹638 Cr
₹671 Cr
₹779 Cr

Bajaj Hindusthan Sugar Ltd · BAJAJHIND

₹1.3K Cr
₹1.3K Cr
₹1.6K Cr
₹1.5K Cr
₹1.3K Cr
₹1.4K Cr
₹2.1K Cr
₹1.4K Cr
₹1.1K Cr
₹1.7K Cr
₹1.9K Cr
₹1.4K Cr
₹1.2K Cr
₹1.5K Cr
₹1.6K Cr
₹1.2K Cr
₹1.2K Cr
₹1.4K Cr
₹1.7K Cr
₹1.1K Cr

Balrampur Chini Mills Ltd · BALRAMCHIN

₹1.2K Cr
₹1.2K Cr
₹1.3K Cr
₹1.1K Cr
₹1.1K Cr
₹981 Cr
₹1.5K Cr
₹1.4K Cr
₹1.5K Cr
₹1.2K Cr
₹1.4K Cr
₹1.4K Cr
₹1.3K Cr
₹1.2K Cr
₹1.5K Cr
₹1.5K Cr
₹1.7K Cr
₹1.5K Cr
₹1.6K Cr
₹1.6K Cr

Bannari Amman Sugars Ltd · BANARISUG

₹447 Cr
₹714 Cr
₹464 Cr
₹427 Cr
₹510 Cr
₹932 Cr
₹656 Cr
₹431 Cr
₹600 Cr
₹768 Cr
₹421 Cr
₹404 Cr
₹474 Cr
₹421 Cr
₹494 Cr
₹419 Cr
₹572 Cr
₹644 Cr
₹282 Cr
₹172 Cr

Dalmia Bharat Sugar & Industries Ltd · DALMIASUG

₹728 Cr
₹616 Cr
₹856 Cr
₹938 Cr
₹579 Cr
₹600 Cr
₹1.1K Cr
₹834 Cr
₹732 Cr
₹584 Cr
₹750 Cr
₹960 Cr
₹926 Cr
₹838 Cr
₹1.0K Cr
₹941 Cr
₹989 Cr
₹698 Cr
₹991 Cr
₹848 Cr

DCM Shriram Ltd · DCMSHRIRAM

₹2.1K Cr
₹2.7K Cr
₹2.8K Cr
₹2.9K Cr
₹2.7K Cr
₹3.2K Cr
₹2.7K Cr
₹2.8K Cr
₹2.7K Cr
₹3.0K Cr
₹2.4K Cr
₹2.9K Cr
₹3.0K Cr
₹3.4K Cr
₹2.9K Cr
₹3.3K Cr
₹3.3K Cr
₹3.8K Cr
₹3.2K Cr
₹3.6K Cr

EID Parry (India) Ltd · EIDPARRY

—
—
—
—
—
₹9.9K Cr
₹6.9K Cr
₹7.0K Cr
₹9.1K Cr
₹7.8K Cr
₹5.6K Cr
₹6.7K Cr
₹9.3K Cr
₹8.7K Cr
₹6.8K Cr
₹8.7K Cr
₹11.6K Cr
₹10.3K Cr
₹7.9K Cr
₹9.0K Cr

Godavari Biorefineries Ltd · GODAVARIB⚠ unverified

—
—
—
—
—
—
—
—
₹239 Cr
₹398 Cr
₹615 Cr
₹523 Cr
₹321 Cr
₹447 Cr
₹580 Cr
₹533 Cr
₹431 Cr
₹460 Cr
₹564 Cr
₹558 Cr

M.V.K. Agro Food Product Ltd · MVKAGRO⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
₹27 Cr
₹68 Cr
₹32 Cr
₹42 Cr
₹112 Cr
₹134 Cr
₹66 Cr

Shree Renuka Sugars Ltd · RENUKA

₹1.4K Cr
₹2.0K Cr
₹2.2K Cr
₹2.0K Cr
₹2.2K Cr
₹2.6K Cr
₹2.3K Cr
₹2.3K Cr
₹2.6K Cr
₹3.1K Cr
₹3.4K Cr
₹3.1K Cr
₹2.6K Cr
₹2.6K Cr
₹2.7K Cr
₹2.0K Cr
₹2.4K Cr
₹2.3K Cr
₹2.5K Cr
₹2.1K Cr

Triveni Engineering and Industries Ltd · TRIVENI

—
—
—
—
—
₹1.5K Cr
₹1.6K Cr
₹1.2K Cr
₹1.4K Cr
₹1.3K Cr
₹1.3K Cr
₹1.3K Cr
₹1.5K Cr
₹1.3K Cr
₹1.6K Cr
₹1.5K Cr
₹1.7K Cr
₹1.5K Cr
₹1.4K Cr
₹1.6K Cr

Revenue growth · reported quarter history

Showing the 12 largest of 21 companies with a series here. The remaining 9 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Andhra Sugars Ltd · ANDHRSUGAR⚠ unverified

—
—
—
—
—
—
—
—
—
-19%
-20%
-2.4%
1.9%
13%
15%
25%
13%
23%
27%
4.5%

Avadh Sugar & Energy Ltd · AVADHSUGAR⚠ unverified

—
—
—
—
—
—
—
—
—
-12%
-27%
3.8%
-21%
3.8%
9.5%
1.2%
5.7%
3.5%
-1.2%
8.7%

Bajaj Hindusthan Sugar Ltd · BAJAJHIND

—
—
—
13%
-1.6%
14%
27%
-11%
-14%
22%
-9.0%
1.9%
2.4%
-15%
-17%
-10.0%
-0.3%
-6.5%
7.4%
-9.8%

Balrampur Chini Mills Ltd · BALRAMCHIN

—
—
—
-5.3%
-8.3%
-19%
17%
29%
38%
25%
-3.9%
2.3%
-16%
-3.1%
4.9%
8.4%
29%
22%
6.7%
6.2%

Bannari Amman Sugars Ltd · BANARISUG

—
—
—
14%
14%
31%
41%
0.9%
18%
-18%
-36%
-6.3%
-21%
-45%
17%
3.7%
21%
53%
-43%
-59%

Dalmia Bharat Sugar & Industries Ltd · DALMIASUG

—
—
—
15%
-20%
-2.6%
34%
-11%
26%
-2.7%
-35%
15%
27%
44%
35%
-2.0%
6.7%
-17%
-2.4%
-9.9%

DCM Shriram Ltd · DCMSHRIRAM

—
—
—
46%
28%
19%
-2.7%
-2.5%
-1.2%
-6.2%
-12%
3.5%
9.2%
11%
20%
13%
11%
13%
11%
9.3%

EID Parry (India) Ltd · EIDPARRY

—
—
—
—
—
—
—
—
—
-22%
-19%
-4.0%
3.0%
12%
23%
29%
25%
18%
16%
3.4%

Godavari Biorefineries Ltd · GODAVARIB⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
34%
12%
-5.7%
1.9%
34%
2.9%
-2.8%
4.7%

M.V.K. Agro Food Product Ltd · MVKAGRO⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
308%
96%
106%

Shree Renuka Sugars Ltd · RENUKA

—
—
—
135%
55%
27%
7.1%
17%
17%
20%
45%
34%
0.4%
-15%
-20%
-34%
-5.6%
-13%
-5.3%
5.5%

Triveni Engineering and Industries Ltd · TRIVENI

—
—
—
—
—
—
—
—
—
-10%
-18%
8.6%
5.8%
-3.3%
25%
19%
14%
17%
-14%
2.1%
08 · compare level, then change

Operating Economics & Margin Trend

Andhra Sugars Ltd has the highest OPM among the 21 Sugar companies compared here, at 12%. M.V.K. Agro Food Product Ltd is next at 10.8%. Ugar Sugar Works Ltd has the highest Margin change at +4.1 percentage points, so level and change sit with different companies. 21 of 21 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Andhra Sugars Ltd leads opm at 12%; Ugar Sugar Works Ltd leads margin change at +4.1 percentage points.

LeaderAndhra Sugars Ltd · 12%
Gap11.1% versus #2 · M.V.K. Agro Food Product Ltd
Persistence5/8 recent comparable periods
Coverage21/21 companies · 399 observations

Investor read: Andhra Sugars Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1Andhra Sugars Ltd ANDHRSUGAR⚠ unverified12%
2M.V.K. Agro Food Product Ltd MVKAGRO⚠ unverified11%
3Davangere Sugar Company Ltd DAVANGERE10%
4DCM Shriram Ltd DCMSHRIRAM9.0%
5EID Parry (India) Ltd EIDPARRY8.0%
Margin changefastest expanders
1Ugar Sugar Works Ltd UGARSUGAR+4.1 pp
2Andhra Sugars Ltd ANDHRSUGAR⚠ unverified+3.0 pp
3Dhampur Sugar Mills Ltd DHAMPURSUG⚠ unverified+1.3 pp
4Triveni Engineering and Industries Ltd TRIVENI+1.0 pp
5Avadh Sugar & Energy Ltd AVADHSUGAR⚠ unverified+0.7 pp
Operating margin · company comparison
21/21 level · 21/21 change
All-company data · latest reported quarter
CompanyOPMMargin changeReported
Andhra Sugars Ltd ANDHRSUGAR⚠ unverified12%+3.0 ppJun 2026
M.V.K. Agro Food Product Ltd MVKAGRO⚠ unverified11%−7.5 ppJun 2026
Davangere Sugar Company Ltd DAVANGERE10%−6.9 ppMar 2026
DCM Shriram Ltd DCMSHRIRAM9.0%0.0 ppJun 2026
EID Parry (India) Ltd EIDPARRY8.0%−1.0 ppJun 2026
Balrampur Chini Mills Ltd BALRAMCHIN7.0%−2.0 ppJun 2026
Dhampur Sugar Mills Ltd DHAMPURSUG⚠ unverified5.7%+1.3 ppJun 2026
Ugar Sugar Works Ltd UGARSUGAR5.6%+4.1 ppJun 2026
Dalmia Bharat Sugar & Industries Ltd DALMIASUG5.1%−4.4 ppJun 2026
Avadh Sugar & Energy Ltd AVADHSUGAR⚠ unverified4.7%+0.7 ppJun 2026
Zuari Industries Ltd ZUARIIND⚠ unverified4.6%−5.3 ppJun 2026
Uttam Sugar Mills Ltd UTTAMSUGAR⚠ unverified4.3%−3.7 ppJun 2026
Triveni Engineering and Industries Ltd TRIVENI3.4%+1.0 ppJun 2026
DCM Shriram Industries Ltd DCMSRIND1.8%−6.8 ppSep 2025
Dhampur Bio Organics Ltd DBOL⚠ unverified1.7%−0.1 ppJun 2026
Magadh Sugar & Energy Ltd MAGADSUGAR⚠ unverified0.2%−5.8 ppJun 2026
Godavari Biorefineries Ltd GODAVARIB⚠ unverified0.1%−1.0 ppJun 2026
Bannari Amman Sugars Ltd BANARISUG-3.0%−12.0 ppJun 2026
Shree Renuka Sugars Ltd RENUKA-3.6%+0.7 ppJun 2026
Dwarikesh Sugar Industries Ltd DWARKESH⚠ unverified-7.0%−8.0 ppJun 2026
Bajaj Hindusthan Sugar Ltd BAJAJHIND-11%−8.9 ppJun 2026
Full 20-quarter history · every available company

OPM · reported quarter history

Showing the 12 largest of 21 companies with a series here. The remaining 9 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Andhra Sugars Ltd · ANDHRSUGAR⚠ unverified

11%
13%
16%
16%
12%
12%
9.9%
8.0%
5.0%
3.3%
7.0%
2.3%
3.9%
3.2%
9.0%
9.0%
9.0%
8.0%
7.0%
12%

Avadh Sugar & Energy Ltd · AVADHSUGAR⚠ unverified

12%
9.8%
11%
9.3%
0.1%
7.0%
17%
11%
9.7%
9.9%
20%
8.1%
5.3%
5.8%
22%
3.9%
2.7%
8.7%
18%
4.7%

Bajaj Hindusthan Sugar Ltd · BAJAJHIND

0.1%
-4.2%
9.5%
2.2%
-6.0%
6.0%
11%
1.6%
-4.9%
6.0%
9.0%
2.0%
0.1%
-1.7%
18%
-2.1%
-4.7%
5.0%
22%
-11%

Balrampur Chini Mills Ltd · BALRAMCHIN

11%
8.2%
26%
4.1%
-1.4%
8.0%
27%
12%
11%
9.0%
24%
12%
3.8%
10%
24%
9.0%
7.0%
14%
18%
7.0%

Bannari Amman Sugars Ltd · BANARISUG

12%
9.2%
15%
8.2%
13%
10%
16%
10%
15%
16%
12%
7.0%
14%
15%
11%
9.0%
13%
13%
1.3%
-3.0%

Dalmia Bharat Sugar & Industries Ltd · DALMIASUG

12%
14%
15%
8.7%
-3.6%
19%
18%
14%
9.0%
19%
16%
12%
7.1%
12%
19%
9.5%
5.7%
16%
17%
5.1%

DCM Shriram Ltd · DCMSHRIRAM

14%
21%
22%
15%
9.9%
17%
13%
6.0%
4.2%
15%
11%
9.0%
6.0%
15%
14%
9.0%
9.0%
14%
11%
9.0%

EID Parry (India) Ltd · EIDPARRY

11%
9.4%
11%
9.7%
8.4%
9.0%
9.0%
9.0%
12%
5.0%
8.0%
7.0%
10%
8.0%
8.0%
9.0%
10%
8.0%
8.0%
8.0%

Godavari Biorefineries Ltd · GODAVARIB⚠ unverified

—
—
—
—
—
—
—
—
-13%
11%
18%
-2.3%
-10%
8.0%
19%
1.1%
-1.8%
9.0%
15%
0.1%

M.V.K. Agro Food Product Ltd · MVKAGRO⚠ unverified

—
—
—
—
—
—
17%
—
22%
—
13%
—
18%
22%
5.5%
18%
19%
13%
22%
11%

Shree Renuka Sugars Ltd · RENUKA

2.5%
8.5%
13%
2.7%
2.1%
8.0%
11%
3.1%
2.5%
8.0%
8.0%
2.7%
9.0%
-0.1%
11%
-4.3%
-8.0%
11%
1.5%
-3.6%

Triveni Engineering and Industries Ltd · TRIVENI

10%
18%
16%
9.3%
3.4%
13%
17%
10%
4.5%
15%
19%
6.6%
0.3%
6.1%
19%
2.4%
3.9%
10%
17%
3.4%

Margin change · reported quarter history

Showing the 12 largest of 21 companies with a series here. The remaining 9 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Andhra Sugars Ltd · ANDHRSUGAR⚠ unverified

−4.7 pp
+1.3 pp
+1.5 pp
+1.7 pp
+0.9 pp
−0.6 pp
−5.7 pp
−7.6 pp
−6.7 pp
−8.7 pp
−2.9 pp
−5.7 pp
−1.1 pp
−0.1 pp
+2.0 pp
+6.7 pp
+5.1 pp
+4.8 pp
−2.0 pp
+3.0 pp

Avadh Sugar & Energy Ltd · AVADHSUGAR⚠ unverified

+3.4 pp
+3.6 pp
−1.7 pp
−2.0 pp
−12.0 pp
−2.8 pp
+5.8 pp
+1.4 pp
+9.6 pp
+2.9 pp
+2.6 pp
−2.6 pp
−4.4 pp
−4.1 pp
+2.4 pp
−4.1 pp
−2.6 pp
+2.9 pp
−4.2 pp
+0.7 pp

Bajaj Hindusthan Sugar Ltd · BAJAJHIND

+2.8 pp
−0.0 pp
−1.2 pp
−2.9 pp
−6.1 pp
+10.2 pp
+1.5 pp
−0.6 pp
+1.1 pp
0.0 pp
−2.0 pp
+0.4 pp
+5.0 pp
−7.7 pp
+9.0 pp
−4.1 pp
−4.8 pp
+6.7 pp
+4.0 pp
−8.9 pp

Balrampur Chini Mills Ltd · BALRAMCHIN

+1.2 pp
+4.8 pp
−6.8 pp
−7.6 pp
−12.5 pp
−0.2 pp
+1.2 pp
+7.9 pp
+12.4 pp
+1.0 pp
−3.0 pp
0.0 pp
−7.2 pp
+1.0 pp
0.0 pp
−3.0 pp
+3.2 pp
+4.0 pp
−6.0 pp
−2.0 pp

Bannari Amman Sugars Ltd · BANARISUG

−2.8 pp
−4.8 pp
+3.0 pp
+0.7 pp
+1.8 pp
+0.9 pp
+0.8 pp
+1.8 pp
+1.6 pp
+6.0 pp
−4.0 pp
−3.0 pp
−1.0 pp
−1.0 pp
−1.0 pp
+2.0 pp
−1.0 pp
−2.0 pp
−9.7 pp
−12.0 pp

Dalmia Bharat Sugar & Industries Ltd · DALMIASUG

−0.8 pp
+4.8 pp
−11.0 pp
−8.5 pp
−15.6 pp
+5.0 pp
+3.0 pp
+5.5 pp
+12.6 pp
−0.3 pp
−2.2 pp
−2.6 pp
−1.9 pp
−6.6 pp
+3.6 pp
−2.1 pp
−1.4 pp
+3.6 pp
−2.2 pp
−4.4 pp

DCM Shriram Ltd · DCMSHRIRAM

+2.7 pp
+2.4 pp
+5.6 pp
+0.8 pp
−3.7 pp
−4.1 pp
−9.1 pp
−9.3 pp
−5.7 pp
−2.0 pp
−2.0 pp
+3.0 pp
+1.8 pp
0.0 pp
+3.0 pp
0.0 pp
+3.0 pp
−1.0 pp
−3.0 pp
0.0 pp

EID Parry (India) Ltd · EIDPARRY

−4.3 pp
−2.6 pp
+3.9 pp
−0.3 pp
−2.3 pp
−0.4 pp
−1.9 pp
−0.7 pp
+3.6 pp
−4.0 pp
−1.0 pp
−2.0 pp
−2.0 pp
+3.0 pp
0.0 pp
+2.0 pp
0.0 pp
0.0 pp
0.0 pp
−1.0 pp

Godavari Biorefineries Ltd · GODAVARIB⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
+3.0 pp
−3.0 pp
+1.0 pp
+3.4 pp
+8.2 pp
+1.0 pp
−4.0 pp
−1.0 pp

M.V.K. Agro Food Product Ltd · MVKAGRO⚠ unverified

—
—
—
—
—
—
—
—
—
—
−4.0 pp
—
−3.3 pp
—
−7.6 pp
—
+0.4 pp
−8.9 pp
+16.3 pp
−7.5 pp

Shree Renuka Sugars Ltd · RENUKA

−5.7 pp
+0.7 pp
−6.3 pp
+13.2 pp
−0.4 pp
−0.5 pp
−1.6 pp
+0.4 pp
+0.4 pp
0.0 pp
−3.0 pp
−0.4 pp
+6.5 pp
−8.1 pp
+3.0 pp
−7.0 pp
−17.0 pp
+11.1 pp
−9.5 pp
+0.7 pp

Triveni Engineering and Industries Ltd · TRIVENI

+3.5 pp
+3.9 pp
+3.0 pp
−5.1 pp
−6.7 pp
−5.2 pp
+0.7 pp
+1.1 pp
+1.1 pp
+1.7 pp
+1.9 pp
−3.8 pp
−4.1 pp
−8.6 pp
+0.1 pp
−4.3 pp
+3.6 pp
+4.1 pp
−2.1 pp
+1.0 pp
09 · compare level, then change

Profit Scale & Acceleration

DCM Shriram Ltd has the highest Net profit among the 21 Sugar companies compared here, at ₹1,436 crore. EID Parry (India) Ltd is next at ₹1,228 crore. Andhra Sugars Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: DCM Shriram Ltd leads with ₹1,436 crore of TTM profit, 16.9% above EID Parry (India) Ltd. Andhra Sugars Ltd shows ≥100% on the scoring scale (205.6% uncapped) growth from a ₹110 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderDCM Shriram Ltd · ₹1,436 crore
Gap16.9% versus #2 · EID Parry (India) Ltd
Persistence7/8 recent comparable periods
Coverage21/21 companies · 325 observations

Investor read: DCM Shriram Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1DCM Shriram Ltd DCMSHRIRAM₹1.4K Cr
2EID Parry (India) Ltd EIDPARRY₹1.2K Cr
3Balrampur Chini Mills Ltd BALRAMCHIN₹371 Cr
4Triveni Engineering and Industries Ltd TRIVENI₹270 Cr
5Dalmia Bharat Sugar & Industries Ltd DALMIASUG₹203 Cr
Profit growthfastest growers
1Andhra Sugars Ltd ANDHRSUGAR⚠ unverified100%
2DCM Shriram Ltd DCMSHRIRAM100%
3Dhampur Sugar Mills Ltd DHAMPURSUG⚠ unverified36%
4Triveni Engineering and Industries Ltd TRIVENI29%
5Bannari Amman Sugars Ltd BANARISUG8.0%
Net profit · company comparison
21/21 level · 11/21 change
All-company data · latest reported quarter
CompanyNet profitProfit growthReported
DCM Shriram Ltd DCMSHRIRAM₹693 Cr508%Jun 2026
EID Parry (India) Ltd EIDPARRY₹312 Cr-33%Jun 2026
Andhra Sugars Ltd ANDHRSUGAR⚠ unverified₹47 Cr88%Jun 2026
Balrampur Chini Mills Ltd BALRAMCHIN₹44 Cr-15%Jun 2026
Dhampur Bio Organics Ltd DBOL⚠ unverified₹37 Cr2.2%Jun 2026
Dalmia Bharat Sugar & Industries Ltd DALMIASUG₹7 Cr-82%Jun 2026
M.V.K. Agro Food Product Ltd MVKAGRO⚠ unverified₹6 Cr85%Jun 2026
Dhampur Sugar Mills Ltd DHAMPURSUG⚠ unverified₹6 Cr569%Jun 2026
Triveni Engineering and Industries Ltd TRIVENI₹4 Cr74%Jun 2026
Davangere Sugar Company Ltd DAVANGERE₹2 Cr0.5%Mar 2026
Ugar Sugar Works Ltd UGARSUGAR₹1 Cr-10%Jun 2026
Uttam Sugar Mills Ltd UTTAMSUGAR⚠ unverified₹1 Cr-91%Jun 2026
Avadh Sugar & Energy Ltd AVADHSUGAR⚠ unverified₹0 Cr-22%Jun 2026
Zuari Industries Ltd ZUARIIND⚠ unverified₹0 Cr-133%Jun 2026
DCM Shriram Industries Ltd DCMSRIND₹-3 Cr-114%Sep 2025
Bannari Amman Sugars Ltd BANARISUG₹-11 Cr-173%Jun 2026
Magadh Sugar & Energy Ltd MAGADSUGAR⚠ unverified₹-12 Cr-32%Jun 2026
Godavari Biorefineries Ltd GODAVARIB⚠ unverified₹-19 Cr-26%Jun 2026
Dwarikesh Sugar Industries Ltd DWARKESH⚠ unverified₹-26 Cr24%Jun 2026
Bajaj Hindusthan Sugar Ltd BAJAJHIND₹-185 Cr78%Jun 2026
Shree Renuka Sugars Ltd RENUKA₹-252 Cr-230%Jun 2026
Full 20-quarter history · every available company

Net profit · reported quarter history

Showing the 12 largest of 21 companies with a series here. The remaining 9 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Andhra Sugars Ltd · ANDHRSUGAR⚠ unverified

—
—
—
—
—
₹40 Cr
₹34 Cr
₹22 Cr
₹20 Cr
₹9 Cr
₹26 Cr
₹16 Cr
₹5 Cr
₹0 Cr
₹6 Cr
₹25 Cr
₹34 Cr
₹23 Cr
₹6 Cr
₹47 Cr

Avadh Sugar & Energy Ltd · AVADHSUGAR⚠ unverified

—
—
—
—
—
₹18 Cr
₹79 Cr
₹22 Cr
₹29 Cr
₹22 Cr
₹55 Cr
₹9 Cr
₹1 Cr
₹7 Cr
₹72 Cr
₹-8 Cr
₹-7 Cr
₹17 Cr
₹56 Cr
₹0 Cr

Bajaj Hindusthan Sugar Ltd · BAJAJHIND

₹-113 Cr
₹-165 Cr
₹60 Cr
₹-45 Cr
₹-162 Cr
₹-58 Cr
₹131 Cr
₹-75 Cr
₹-123 Cr
₹20 Cr
₹91 Cr
₹-67 Cr
₹-76 Cr
₹-102 Cr
₹220 Cr
₹-174 Cr
₹-105 Cr
₹15 Cr
₹391 Cr
₹-185 Cr

Balrampur Chini Mills Ltd · BALRAMCHIN

₹83 Cr
₹64 Cr
₹240 Cr
₹12 Cr
₹-29 Cr
₹46 Cr
₹254 Cr
₹74 Cr
₹166 Cr
₹91 Cr
₹203 Cr
₹70 Cr
₹67 Cr
₹70 Cr
₹229 Cr
₹52 Cr
₹54 Cr
₹113 Cr
₹160 Cr
₹44 Cr

Bannari Amman Sugars Ltd · BANARISUG

₹21 Cr
₹30 Cr
₹24 Cr
₹26 Cr
₹27 Cr
₹41 Cr
₹50 Cr
₹14 Cr
₹49 Cr
₹68 Cr
₹22 Cr
₹6 Cr
₹34 Cr
₹29 Cr
₹35 Cr
₹15 Cr
₹43 Cr
₹48 Cr
₹42 Cr
₹-11 Cr

Dalmia Bharat Sugar & Industries Ltd · DALMIASUG

₹59 Cr
₹57 Cr
₹56 Cr
₹49 Cr
₹12 Cr
₹65 Cr
₹124 Cr
₹61 Cr
₹55 Cr
₹65 Cr
₹91 Cr
₹55 Cr
₹66 Cr
₹59 Cr
₹199 Cr
₹39 Cr
₹23 Cr
₹70 Cr
₹104 Cr
₹7 Cr

DCM Shriram Ltd · DCMSHRIRAM

₹159 Cr
₹350 Cr
₹401 Cr
₹254 Cr
₹128 Cr
₹342 Cr
₹187 Cr
₹57 Cr
₹32 Cr
₹240 Cr
₹118 Cr
₹100 Cr
₹63 Cr
₹262 Cr
₹179 Cr
₹114 Cr
₹159 Cr
₹213 Cr
₹371 Cr
₹693 Cr

EID Parry (India) Ltd · EIDPARRY

—
—
—
—
—
₹482 Cr
₹287 Cr
₹325 Cr
₹782 Cr
₹217 Cr
₹294 Cr
₹226 Cr
₹592 Cr
₹416 Cr
₹539 Cr
₹464 Cr
₹766 Cr
₹437 Cr
₹-287 Cr
₹312 Cr

Godavari Biorefineries Ltd · GODAVARIB⚠ unverified

—
—
—
—
—
—
—
—
₹-65 Cr
₹38 Cr
₹65 Cr
₹-26 Cr
₹-75 Cr
₹6 Cr
₹72 Cr
₹-16 Cr
₹-42 Cr
₹8 Cr
₹53 Cr
₹-19 Cr

M.V.K. Agro Food Product Ltd · MVKAGRO⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
₹3 Cr
₹5 Cr
₹3 Cr
₹2 Cr
₹10 Cr
₹31 Cr
₹6 Cr

Shree Renuka Sugars Ltd · RENUKA

₹-98 Cr
₹43 Cr
₹159 Cr
₹-114 Cr
₹-142 Cr
₹14 Cr
₹45 Cr
₹-139 Cr
₹-206 Cr
₹-172 Cr
₹-111 Cr
₹-166 Cr
₹-23 Cr
₹-204 Cr
₹93 Cr
₹-264 Cr
₹-369 Cr
₹-38 Cr
₹-121 Cr
₹-252 Cr

Triveni Engineering and Industries Ltd · TRIVENI

—
—
—
—
—
₹147 Cr
₹190 Cr
₹68 Cr
₹29 Cr
₹137 Cr
₹161 Cr
₹31 Cr
₹-22 Cr
₹43 Cr
₹187 Cr
₹2 Cr
₹21 Cr
₹78 Cr
₹167 Cr
₹4 Cr

Profit growth · reported quarter history

Showing the 12 largest of 21 companies with a series here. The remaining 9 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Andhra Sugars Ltd · ANDHRSUGAR⚠ unverified

—
—
—
—
—
—
—
—
—
-78%
-23%
-27%
-75%
-100%
-77%
56%
580%
—
0.0%
88%

Avadh Sugar & Energy Ltd · AVADHSUGAR⚠ unverified

—
—
—
—
—
—
—
—
—
21%
-30%
-61%
-97%
-69%
30%
-197%
-894%
148%
-22%
—

Bajaj Hindusthan Sugar Ltd · BAJAJHIND

—
—
—
—
—
—
118%
—
—
—
-31%
—
—
-610%
142%
—
—
—
78%
—

Balrampur Chini Mills Ltd · BALRAMCHIN

—
—
—
-84%
-135%
-28%
5.8%
517%
—
98%
-20%
-5.4%
-60%
-23%
13%
-26%
-19%
61%
-30%
-15%

Bannari Amman Sugars Ltd · BANARISUG

—
—
—
420%
29%
37%
108%
-46%
81%
66%
-56%
-57%
-31%
-57%
59%
150%
26%
66%
20%
-173%

Dalmia Bharat Sugar & Industries Ltd · DALMIASUG

—
—
—
-60%
-80%
14%
121%
25%
358%
-0.1%
-26%
-11%
21%
-8.6%
118%
-28%
-65%
17%
-48%
-82%

DCM Shriram Ltd · DCMSHRIRAM

—
—
—
61%
-20%
-2.3%
-53%
-78%
-75%
-30%
-37%
75%
97%
9.2%
52%
14%
152%
-19%
107%
508%

EID Parry (India) Ltd · EIDPARRY

—
—
—
—
—
—
—
—
—
-55%
2.4%
-30%
-24%
92%
83%
105%
29%
5.1%
-153%
-33%

Godavari Biorefineries Ltd · GODAVARIB⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
-84%
11%
—
—
33%
-26%
—

M.V.K. Agro Food Product Ltd · MVKAGRO⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
215%
535%
85%

Shree Renuka Sugars Ltd · RENUKA

—
—
—
—
—
-67%
-72%
—
—
-1,329%
-347%
—
—
—
—
—
—
—
-230%
—

Triveni Engineering and Industries Ltd · TRIVENI

—
—
—
—
—
—
—
—
—
-6.5%
-15%
-54%
-177%
-69%
16%
-93%
—
83%
-11%
74%
10 · compare level, then change

Return On Capital Employed

EID Parry (India) Ltd has the highest ROCE among the 21 Sugar companies compared here, at 17%. M.V.K. Agro Food Product Ltd is next at 14.4%. Dhampur Bio Organics Ltd has the highest ROCE change at +8.1 percentage points, so level and change sit with different companies. 21 of 21 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: EID Parry (India) Ltd leads ROCE at 17%, 2.6 percentage points above M.V.K. Agro Food Product Ltd. Dhampur Bio Organics Ltd has the strongest latest improvement at +8.1 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderEID Parry (India) Ltd · 17%
Gap18.1% versus #2 · M.V.K. Agro Food Product Ltd
PersistenceNot enough history
Coverage21/21 companies · 228 observations

Investor read: EID Parry (India) Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1EID Parry (India) Ltd EIDPARRY17%
2M.V.K. Agro Food Product Ltd MVKAGRO⚠ unverified14%
3DCM Shriram Industries Ltd DCMSRIND · older report14%
4DCM Shriram Ltd DCMSHRIRAM12%
5Uttam Sugar Mills Ltd UTTAMSUGAR⚠ unverified11%
ROCE changefastest improvers
1Dhampur Bio Organics Ltd DBOL⚠ unverified+8.1 pp
2Ugar Sugar Works Ltd UGARSUGAR+6.0 pp
3Andhra Sugars Ltd ANDHRSUGAR⚠ unverified+4.9 pp
4Godavari Biorefineries Ltd GODAVARIB⚠ unverified+1.2 pp
5Bajaj Hindusthan Sugar Ltd BAJAJHIND+1.0 pp
Return on capital · company comparison
21/21 level · 21/21 change

Withheld from this chart: EID Parry (India) Ltd (EIDPARRY) — its two data sources disagree by up to 66% on reported income across 14 comparable periods, so its derived ratios are withheld; Triveni Engineering and Industries Ltd (TRIVENI) — its two data sources disagree by up to 86% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

All-company data · latest reported quarter
CompanyROCEROCE changeReported
Uttam Sugar Mills Ltd UTTAMSUGAR⚠ unverified17%+0.6 ppJun 2026
Dhampur Bio Organics Ltd DBOL⚠ unverified12%+8.1 ppJun 2026
Avadh Sugar & Energy Ltd AVADHSUGAR⚠ unverified11%−3.9 ppJun 2026
Balrampur Chini Mills Ltd BALRAMCHIN10%−1.2 ppJun 2026
Magadh Sugar & Energy Ltd MAGADSUGAR⚠ unverified10%−6.8 ppJun 2026
DCM Shriram Ltd DCMSHRIRAM9.6%−0.3 ppJun 2026
Bannari Amman Sugars Ltd BANARISUG8.8%−0.2 ppJun 2026
Dhampur Sugar Mills Ltd DHAMPURSUG⚠ unverified7.6%−0.1 ppJun 2026
Dalmia Bharat Sugar & Industries Ltd DALMIASUG7.1%−2.3 ppJun 2026
M.V.K. Agro Food Product Ltd MVKAGRO⚠ unverified7.0%−3.2 ppJun 2026
Andhra Sugars Ltd ANDHRSUGAR⚠ unverified6.3%+4.9 ppJun 2026
Godavari Biorefineries Ltd GODAVARIB⚠ unverified6.2%+1.2 ppJun 2026
Dwarikesh Sugar Industries Ltd DWARKESH⚠ unverified5.0%−1.4 ppJun 2026
Shree Renuka Sugars Ltd RENUKA3.6%−16.1 ppJun 2026
Bajaj Hindusthan Sugar Ltd BAJAJHIND1.8%+1.0 ppJun 2026
Zuari Industries Ltd ZUARIIND⚠ unverified0.8%+0.2 ppJun 2026
Full 20-quarter history · every available company

ROCE · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Andhra Sugars Ltd · ANDHRSUGAR⚠ unverified

8.8%
—
11%
—
15%
—
13%
—
6.5%
5.8%
2.1%
4.4%
0.1%
3.0%
1.4%
2.9%
5.3%
6.6%
6.3%
—

Avadh Sugar & Energy Ltd · AVADHSUGAR⚠ unverified

20%
—
20%
—
15%
—
16%
—
21%
24%
20%
20%
16%
14%
15%
13%
12%
13%
11%
—

Bajaj Hindusthan Sugar Ltd · BAJAJHIND

-0.1%
—
-0.6%
—
-2.4%
—
0.5%
0.6%
0.7%
1.6%
0.3%
0.7%
1.0%
-0.5%
0.8%
0.4%
-0.4%
1.0%
1.8%
—

Balrampur Chini Mills Ltd · BALRAMCHIN

18%
—
20%
—
11%
—
11%
—
18%
26%
16%
22%
13%
16%
12%
15%
12%
16%
10%
—

Bannari Amman Sugars Ltd · BANARISUG

7.9%
—
9.5%
—
9.9%
—
13%
—
15%
17%
13%
13%
11%
8.7%
9.0%
9.9%
9.9%
12%
8.8%
—

Dalmia Bharat Sugar & Industries Ltd · DALMIASUG

8.6%
—
14%
—
8.1%
—
11%
—
12%
15%
7.8%
12%
7.6%
10%
9.4%
10%
8.4%
10%
7.1%
—

DCM Shriram Ltd · DCMSHRIRAM

18%
—
22%
—
22%
—
17%
—
11%
11%
7.8%
10%
8.8%
11%
9.9%
12%
11%
13%
9.6%
—

Dhampur Sugar Mills Ltd · DHAMPURSUG⚠ unverified

10%
—
21%
—
16%
—
19%
—
19%
19%
15%
13%
9.1%
9.4%
7.7%
8.9%
7.8%
10%
7.6%
—

Godavari Biorefineries Ltd · GODAVARIB⚠ unverified

—
—
—
—
—
—
—
—
—
—
6.2%
7.1%
7.9%
9.7%
5.0%
9.0%
8.8%
8.8%
6.2%
—

M.V.K. Agro Food Product Ltd · MVKAGRO⚠ unverified

—
—
—
—
—
—
—
8.6%
17%
13%
16%
13%
12%
—
10%
—
6.8%
18%
7.0%
—

Shree Renuka Sugars Ltd · RENUKA

7.4%
—
9.5%
—
18%
—
17%
—
18%
23%
21%
18%
31%
18%
20%
13%
-13%
8.0%
3.6%
—

Uttam Sugar Mills Ltd · UTTAMSUGAR⚠ unverified

32%
—
35%
—
33%
—
29%
—
29%
—
25%
25%
16%
16%
16%
20%
20%
21%
17%
—

ROCE change · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Andhra Sugars Ltd · ANDHRSUGAR⚠ unverified

—
—
—
—
+6.0 pp
—
+1.7 pp
—
−8.3 pp
—
−10.7 pp
—
−6.4 pp
−2.8 pp
−0.7 pp
−1.5 pp
+5.2 pp
+3.6 pp
+4.9 pp
—

Avadh Sugar & Energy Ltd · AVADHSUGAR⚠ unverified

—
—
—
—
−5.0 pp
—
−3.9 pp
—
+6.4 pp
—
+3.7 pp
—
−5.7 pp
−9.5 pp
−5.6 pp
−6.6 pp
−3.9 pp
−1.0 pp
−3.9 pp
—

Bajaj Hindusthan Sugar Ltd · BAJAJHIND

—
—
—
—
−2.3 pp
—
+1.1 pp
—
+3.1 pp
—
−0.2 pp
+0.1 pp
+0.3 pp
−2.1 pp
+0.5 pp
−0.3 pp
−1.4 pp
+1.5 pp
+1.0 pp
—

Balrampur Chini Mills Ltd · BALRAMCHIN

—
—
—
—
−7.2 pp
—
−8.5 pp
—
+6.8 pp
—
+4.3 pp
—
−5.2 pp
−9.7 pp
−4.0 pp
−7.6 pp
−1.0 pp
0.0 pp
−1.2 pp
—

Bannari Amman Sugars Ltd · BANARISUG

—
—
—
—
+2.0 pp
—
+3.4 pp
—
+5.1 pp
—
+0.5 pp
—
−3.7 pp
−8.7 pp
−4.4 pp
−3.4 pp
−1.4 pp
+2.8 pp
−0.2 pp
—

Dalmia Bharat Sugar & Industries Ltd · DALMIASUG

—
—
—
—
−0.5 pp
—
−2.3 pp
—
+4.1 pp
—
−3.5 pp
—
−4.6 pp
−4.5 pp
+1.6 pp
−2.2 pp
+0.8 pp
+0.3 pp
−2.3 pp
—

DCM Shriram Ltd · DCMSHRIRAM

—
—
—
—
+4.4 pp
—
−5.7 pp
—
−11.4 pp
—
−8.7 pp
—
−2.0 pp
0.0 pp
+2.1 pp
+1.7 pp
+2.4 pp
+1.6 pp
−0.3 pp
—

Dhampur Sugar Mills Ltd · DHAMPURSUG⚠ unverified

—
—
—
—
+5.5 pp
—
−1.6 pp
—
+3.2 pp
—
−3.8 pp
—
−9.9 pp
−9.3 pp
−7.6 pp
−3.6 pp
−1.3 pp
+1.0 pp
−0.1 pp
—

Godavari Biorefineries Ltd · GODAVARIB⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
—
−1.2 pp
+1.9 pp
+0.9 pp
−0.9 pp
+1.2 pp
—

M.V.K. Agro Food Product Ltd · MVKAGRO⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
+4.8 pp
−4.7 pp
—
−6.1 pp
—
−5.6 pp
—
−3.2 pp
—

Shree Renuka Sugars Ltd · RENUKA

—
—
—
—
+10.3 pp
—
+7.1 pp
—
+0.7 pp
—
+4.1 pp
—
+12.1 pp
−4.4 pp
−1.0 pp
−4.7 pp
−43.3 pp
−10.3 pp
−16.1 pp
—

Uttam Sugar Mills Ltd · UTTAMSUGAR⚠ unverified

—
—
—
—
+0.5 pp
—
−6.4 pp
—
−4.0 pp
—
−3.5 pp
—
−13.1 pp
—
−8.9 pp
−5.5 pp
+4.4 pp
+5.0 pp
+0.6 pp
—
11 · compare level, then change

Valuation Against Growth & Quality

DCM Shriram Ltd has the lowest PEG among the 21 Sugar companies compared here, at 0.44×. Dalmia Bharat Sugar & Industries Ltd is next at 0.55×. Zuari Industries Ltd has the lowest P/E at 7.05×, so level and change sit with different companies. 5 of 21 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: DCM Shriram Ltd has the lowest comparable PEG at 0.44×, 20% below Dalmia Bharat Sugar & Industries Ltd. Only 5 of 21 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderDCM Shriram Ltd · 0.44×
Gap20% versus #2 · Dalmia Bharat Sugar & Industries Ltd
Persistence0/8 recent comparable periods
Coverage5/21 companies · 30 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.
PEGlowest PEG
1DCM Shriram Ltd DCMSHRIRAM0.4
2Dalmia Bharat Sugar & Industries Ltd DALMIASUG0.6
3Bajaj Hindusthan Sugar Ltd BAJAJHIND1.3
4Bannari Amman Sugars Ltd BANARISUG1.8
5Balrampur Chini Mills Ltd BALRAMCHIN2.2
P/Elowest P/E
1Zuari Industries Ltd ZUARIIND⚠ unverified7.1
2DCM Shriram Industries Ltd DCMSRIND · older report8.2
3Andhra Sugars Ltd ANDHRSUGAR⚠ unverified11.1
4DCM Shriram Ltd DCMSHRIRAM11.4
5Uttam Sugar Mills Ltd UTTAMSUGAR⚠ unverified12.1
Valuation · company comparison
5/21 level · 20/21 change
All-company data · latest reported quarter
CompanyPEGP/EReported
Balrampur Chini Mills Ltd BALRAMCHIN2.228.5Jun 2026
Bannari Amman Sugars Ltd BANARISUG1.828.6Jun 2026
Bajaj Hindusthan Sugar Ltd BAJAJHIND1.331.9Jun 2026
Dalmia Bharat Sugar & Industries Ltd DALMIASUG0.611.4Jun 2026
DCM Shriram Ltd DCMSHRIRAM0.418.9Jun 2026
EID Parry (India) Ltd EIDPARRY—13.8Jun 2026
Triveni Engineering and Industries Ltd TRIVENI—21.5Jun 2026
Shree Renuka Sugars Ltd RENUKA—-19.6Jun 2026
Avadh Sugar & Energy Ltd AVADHSUGAR⚠ unverified—15.2Jun 2026
M.V.K. Agro Food Product Ltd MVKAGRO⚠ unverified—36.1Jun 2026
Andhra Sugars Ltd ANDHRSUGAR⚠ unverified—11.1Jun 2026
Godavari Biorefineries Ltd GODAVARIB⚠ unverified—42.8Jun 2026
Uttam Sugar Mills Ltd UTTAMSUGAR⚠ unverified—8.6Jun 2026
Dhampur Sugar Mills Ltd DHAMPURSUG⚠ unverified—13.5Jun 2026
Dwarikesh Sugar Industries Ltd DWARKESH⚠ unverified—25.7Jun 2026
Zuari Industries Ltd ZUARIIND⚠ unverified—6.5Jun 2026
Dhampur Bio Organics Ltd DBOL⚠ unverified—29.5Jun 2026
Magadh Sugar & Energy Ltd MAGADSUGAR⚠ unverified—5.9Jun 2026
Ugar Sugar Works Ltd UGARSUGAR—31.9Jun 2026
Davangere Sugar Company Ltd DAVANGERE—63.5Mar 2026
DCM Shriram Industries Ltd DCMSRIND—5.2Sep 2025
Full 20-quarter history · every available company

PEG · reported quarter history

Bajaj Hindusthan Sugar Ltd · BAJAJHIND

—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
—
1.3
—

Balrampur Chini Mills Ltd · BALRAMCHIN

—
—
—
—
—
—
—
—
—
—
—
—
0.5
—
2.2
—
—
—
—
—

Bannari Amman Sugars Ltd · BANARISUG

—
—
—
—
1.8
1.0
—
—
0.8
0.5
—
4.2
3.0
—
—
—
—
—
1.8
—

Dalmia Bharat Sugar & Industries Ltd · DALMIASUG

—
0.2
—
0.9
1.0
0.7
—
0.4
—
—
—
—
0.8
—
—
0.2
—
0.6
—
—

DCM Shriram Ltd · DCMSHRIRAM

0.6
0.5
0.5
0.2
0.3
0.3
—
—
—
—
—
—
—
—
5.9
0.7
1.1
0.7
0.9
0.4

P/E · reported quarter history

Showing the 12 largest of 21 companies with a series here. The remaining 9 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Andhra Sugars Ltd · ANDHRSUGAR⚠ unverified

9.6
9.7
9.2
6.9
7.1
7.1
6.2
7.8
11.5
13.2
15.0
20.1
20.6
21.9
18.7
26.7
18.6
12.7
9.6
11.1

Avadh Sugar & Energy Ltd · AVADHSUGAR⚠ unverified

9.7
8.7
11.2
8.5
8.0
13.1
12.0
10.8
13.4
9.1
7.0
9.9
14.0
12.0
12.6
11.5
12.0
11.7
12.1
15.2

Bajaj Hindusthan Sugar Ltd · BAJAJHIND

—
—
-6.6
—
—
—
-11.9
—
—
-74.7
-41.8
—
—
—
-102.8
—
—
-52.7
30.5
31.9

Balrampur Chini Mills Ltd · BALRAMCHIN

18.1
18.3
21.8
16.4
17.8
28.0
29.8
27.3
25.5
15.3
12.5
16.2
24.9
24.3
26.9
27.2
21.8
21.9
22.4
28.5

Bannari Amman Sugars Ltd · BANARISUG

32.1
42.0
36.8
33.7
35.4
32.9
28.9
24.1
25.3
20.9
16.0
25.9
31.3
35.1
49.9
47.1
40.3
37.1
31.9
28.6

Dalmia Bharat Sugar & Industries Ltd · DALMIASUG

12.4
11.4
13.8
8.5
9.0
10.6
9.4
10.3
12.5
11.4
9.4
13.8
16.2
10.8
10.8
12.4
11.7
10.1
11.6
11.4

DCM Shriram Ltd · DCMSHRIRAM

20.9
18.6
18.4
13.6
13.4
12.4
10.4
15.5
23.8
26.0
25.8
37.3
32.9
32.6
31.0
30.5
29.1
27.2
24.8
18.9

EID Parry (India) Ltd · EIDPARRY

13.0
15.7
12.8
9.8
10.2
9.7
7.9
8.8
11.9
10.0
11.3
15.1
17.0
21.7
17.2
25.2
20.4
18.7
13.4
13.8

Godavari Biorefineries Ltd · GODAVARIB⚠ unverified

—
—
—
—
—
—
—
—
—
—
—
—
—
541.7
420.8
—
—
31.9
28.7
42.8

M.V.K. Agro Food Product Ltd · MVKAGRO⚠ unverified

—
—
—
—
—
—
—
—
—
—
8.9
7.7
8.7
7.7
8.8
25.1
80.8
169.7
121.3
36.1

Shree Renuka Sugars Ltd · RENUKA

—
-18.9
-54.7
—
—
-148.2
-47.7
—
—
—
—
—
—
—
-19.6
—
—
—
—
—

Triveni Engineering and Industries Ltd · TRIVENI

8.4
8.9
11.3
8.1
9.2
11.0
10.1
8.5
11.2
10.8
9.7
13.2
17.3
21.2
22.9
20.8
21.7
21.1
17.4
21.5
12 · before the conclusion, check the blind spots

What can make this comparison misleading?

This Sugar comparison names 7 specific ways its own evidence can mislead, all listed below. 1 of the 21 companies reports on an older date than the sector's freshest reporters, so its rank is marked stale. 10 draw at least one figure from a second feed with too little overlap to cross-check.

Keep these limits visible

  • A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
  • A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
  • The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
  • An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
  • 1 company has an older fundamental reporting date than the sector’s freshest reporters; its rank carries a stale marker.
  • 10 companies draw at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; they are marked unverified wherever those figures appear.
  • 2 companies are missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
13 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 21 Sugar companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-09-11. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-09-11 · weekly price and relative-strength history
Derived metricsGrowth, changes and PEG are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing6 cross-checked · 13 unverified · 2 withheld, of 21 graded companies.
How a second data feed is admitted, and what happens when it disagrees

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from.

14 · questions investors ask, short speakable answers

Sugar company comparison FAQs

These 24 answers restate the Sugar comparison above in question form. Every one is computed from the same 21 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-09-11. Nothing here is estimated, and none of it is a recommendation.

Is the Sugar sector outperforming NIFTY 500?

Sugar has outperformed NIFTY 500 by 13.6% over 52 weeks and 13.8% over 13 weeks. 12 of 21 covered companies beat NIFTY on Mansfield relative strength, while 7 of 19 beat the sector itself.

Which Sugar company is largest by revenue?

EID Parry (India) Ltd leads with revenue of ₹38,836 crore, based on 21 of 21 comparable companies through Jun 2026.

Which Sugar company is growing fastest?

Ugar Sugar Works Ltd has the fastest current revenue growth at 17.2%, across 20 of 21 comparable companies.

Which Sugar company has the strongest 4-Factor Sector Score?

Andhra Sugars Ltd ranks first at 73.8/100 with 87% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Sugar company has the lowest comparable PEG?

DCM Shriram Ltd has the lowest comparable PEG at 0.44, among 5 of 21 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Sugar comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Is there a Nifty Sugar index?

NSE India maintains Nifty indices for several broad sector categories — Nifty Bank, Nifty IT, Nifty Pharma and others — but not for every sub-sector grouping on this site. Whether or not an official Nifty index covers Sugar, this page builds its own equal-weight basket of 21 listed Sugar companies — one company, one vote, regardless of market value — so no single large company dominates the reading. Figures are as of Jun 2026.

Which are the best Sugar stocks in India?

Ranked by this page's four-factor score, Andhra Sugars Ltd places first among 21 listed Sugar companies, followed by DCM Shriram Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

How many Sugar stocks are listed in India?

This comparison covers 21 listed Sugar companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

Which Sugar company is the biggest?

EID Parry (India) Ltd is the largest, with trailing-twelve-month revenue of ₹38,836 crore, ahead of DCM Shriram Ltd at ₹13,840 crore. That covers 21 of 21 companies with comparable reporting through Jun 2026.

Which Sugar company has the best profit margins?

Andhra Sugars Ltd has the highest operating margin at 12%, from 21 of 21 comparable companies. Ugar Sugar Works Ltd shows the biggest recent improvement, at +4.1 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Sugar company makes the most profit?

DCM Shriram Ltd earns the most, at ₹1,436 crore of trailing-twelve-month net profit, from 21 of 21 comparable companies. Andhra Sugars Ltd has the fastest profit growth at the ≥100% scoring cap, though growth off a small or recovering profit base overstates how much has actually changed.

Which Sugar company earns the highest return on capital?

EID Parry (India) Ltd leads on return on capital employed at 17%, across 21 of 21 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Sugar stock is the cheapest?

On PEG — where a LOWER number is cheaper — DCM Shriram Ltd screens cheapest at 0.44×. Only 5 of 21 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Is the Sugar sector beating the market?

Sugar has outperformed NIFTY 500 by 13.6% over the last 52 weeks and 13.8% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 12 of 21 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Sugar stock has the strongest price momentum?

Avadh Sugar & Energy Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Sugar company scores highest for research priority?

Andhra Sugars Ltd scores 73.8 out of 100 with 87% evidence confidence, from 31.7 points on growth and earnings, 14.8 on capital efficiency, 12.9 on valuation and 14.4 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Sugar companies does this comparison cover, and over what period?

It compares 21 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Sugar sector?

The 21 Sugar companies on this page carry ₹79,252 crore of combined market value. DCM Shriram Ltd is the largest at ₹15,594 crore, about 20% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-09-17.

What is the Sugar sector's P/E ratio?

The median price-to-earnings ratio across the 21 Sugar companies on this page is 21.5×, measured on the 20 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-09-17.

How is the Sugar sector performing?

12 of the 21 covered Sugar companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 13.6% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-09-17.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

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