Dalmia Bharat Sugar & Industries Ltd. (DALMIASUG) AI Stock Analysis

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Dalmia Bharat Sugar & Industries Ltd.

(NSE:DALMIASUG)

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Rating:61Neutral

Price Target:INR 417.00▲(5.46% Upside)

Action:reiterated

Date:10/13/26

The score is held back primarily by weakening financial performance—especially the sharp decline and volatility in operating/free cash flow, plus margin compression and rising leverage. Offsetting this, technicals are strong with price trading above major moving averages and positive momentum. Valuation is reasonable but not compelling enough to outweigh the cash-flow and profitability concerns.

Positive Factors

Integrated agro-processing modelSugar manufacturing is complemented by ethanol/alcohol and bagasse-based power, creating multiple downstream value streams from the same sugarcane input. This integrated model can broaden monetisation of processing output and provide a more diversified operating base over the next several quarters.

Negative Factors

Weak and volatile cash generationCash generation weakened sharply in 2026, following earlier volatility that included negative operating and free cash flow in 2024. Inconsistent cash conversion can constrain internally funded investment, reduce financial flexibility, and make earnings quality less dependable over the next several quarters.

Dalmia Bharat Sugar & Industries Ltd. (DALMIASUG) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 32.01B
Dividend Yield: 1.51%
Average Volume (3M): 34.31K
Price to Earnings (P/E): 15.7
Beta (1Y): 1.49
Revenue Growth: -5.44%
EPS Growth: -44.61%
Country: India
Employees: 2,232
Sector: General
Sector Strength: 55
Industry: Food Confectioners

Dalmia Bharat Sugar & Industries Ltd. Business Overview & Revenue Model

Company Description

Dalmia Bharat Sugar and Industries Limited is an Indian-based corporation with global operations, principally engaged in the sugar industry. Its multifaceted operations are structured across segments encompassing its own manufactured sugar, power gen...

Dalmia Bharat Sugar & Industries Ltd. Financial Statement Overview

Summary

Mixed fundamentals: income statement shows choppy revenue and meaningful margin compression in the latest year, and the balance sheet indicates rising leverage and lower ROE. The largest weakness is cash flow, with a sharp drop in operating and free cash flow and recent volatility in cash conversion.

Income Statement

62Positive

Balance Sheet

58Neutral

Cash Flow

36Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	35.23B	36.18B	37.46B	28.99B	32.45B	29.16B
Gross Profit	5.73B	6.15B	10.17B	8.48B	9.03B	7.82B
EBITDA	3.69B	4.26B	4.69B	5.40B	5.12B	5.28B
Net Income	2.06B	2.37B	3.87B	2.72B	2.50B	2.95B
Balance Sheet
Total Assets	0	55.21B	48.63B	51.62B	38.03B	38.22B
Cash, Cash Equivalents and Short-Term Investments	4.34B	4.34B	3.55B	5.30B	1.68B	4.03B
Total Debt	0	18.03B	10.44B	14.30B	4.54B	8.19B
Total Liabilities	-32.35B	22.86B	16.29B	22.30B	10.98B	14.63B
Stockholders Equity	32.35B	32.42B	32.35B	29.32B	27.05B	23.59B
Cash Flow
Free Cash Flow	7.69B	925.60M	3.09B	-6.06B	3.65B	2.34B
Operating Cash Flow	8.06B	2.17B	4.50B	-2.39B	5.83B	5.67B
Investing Cash Flow	-3.50B	-9.01B	-1.08B	-2.57B	-1.92B	-3.27B
Financing Cash Flow	-5.29B	7.16B	-4.80B	9.02B	-4.19B	-2.17B

Dalmia Bharat Sugar & Industries Ltd. Technical Analysis

Technical Analysis SentimentNegative

Last Price395.40

Price Trends

50DMA440.43Negative

100DMA402.28Negative

200DMA363.88Positive

Market Momentum

MACD-5.43Positive

RSI38.39Neutral

STOCH12.74Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DALMIASUG, the sentiment is Negative. The current price of 395.40 is below the 20-day moving average (MA) of 442.07, below the 50-day MA of 440.43, and above the 200-day MA of 363.88, indicating a neutral trend. The MACD of -5.43 indicates Positive momentum. The RSI at 38.39 is Neutral, neither overbought nor oversold. The STOCH value of 12.74 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:DALMIASUG.

Dalmia Bharat Sugar & Industries Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:DALMIASUG against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:BANARISUG	64Neutral	INR 38.94B	31.93	―	0.40%	-7.59%	7.28%
IN:BALRAMCHIN	63Neutral	INR 124.82B	32.13	―	0.59%	14.99%	-11.46%
IN:DALMIASUG	61Neutral	INR 32.00B	15.68	―	1.51%	-5.44%	-44.61%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:AVADHSUGAR	51Neutral	INR 16.12B	24.43	―	1.23%	4.23%	-6.89%
IN:BAJAJHIND	46Neutral	INR 41.26B	21.02	―	―	-1.93%	―
IN:TRIVENI	45Neutral	INR 49.75B	17.61	―	1.22%	4.78%	29.94%

* General Sector Average

Performance Comparison

IN:DALMIASUG and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:DALMIASUG	Dalmia Bharat Sugar & Industries Ltd.	395.40	70.32	21.63%
IN:AVADHSUGAR	Avadh Sugar & Energy Ltd.	805.35	384.95	91.57%
IN:BAJAJHIND	Bajaj Hindusthan Sugar Limited	17.27	-5.19	-23.11%
IN:BALRAMCHIN	Balrampur Chini Mills Ltd	589.90	131.82	28.78%
IN:BANARISUG	Bannari Amman Sugars Limited	3105.00	-468.87	-13.12%
IN:TRIVENI	Triveni Engineering and Industries Limited	225.75	6.32	2.88%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 13, 2026

Dalmia Bharat Sugar & Industries Ltd. AI Stock Analysis

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