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K.M. Sugar Mills Ltd. (KMSUGAR) AI Stock Analysis

IN:KMSUGAR

K.M. Sugar Mills Ltd.

(NSE:KMSUGAR)

Select Model
Rating:73Outperform
Price Target:INR 35.00â–²(13.12% Upside)
Action:reiterated
Date:10/20/26

The score is supported primarily by improving profitability, a stronger balance sheet, positive price positioning, and a low P/E ratio. Volatile cash generation and commodity-cycle exposure keep the overall score below the high range.

Positive Factors
Improved ProfitabilityThe improvement in net income and margin indicates stronger earnings conversion in the latest fiscal year. If profitability remains near these levels, the company should have greater capacity to fund operations, manage obligations, and reinvest in its sugar and allied-products businesses.
Negative Factors
Revenue ContractionThe recent revenue contraction signals weaker top-line momentum and makes future profit improvement more dependent on margins or cost control. In a sugar business exposed to market realizations and operating cycles, sustained sales weakness could limit growth and reduce scale benefits.

K.M. Sugar Mills Ltd. (KMSUGAR) vs. iShares MSCI India ETF (INDA)

-20%-10%0%10%20%30%40%50%IN:KMSUGAR+39.87%INDA-12.02%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
INR 2.97B
Dividend Yield
―
Average Volume (3M)
34.71K
Price to Earnings (P/E)
5.8
Beta (1Y)
0.86
Revenue Growth
-8.26%
EPS Growth
15.48%
Country
India
Employees
305
Sector
General
Sector Strength
55
Industry
Agricultural - Commodities/Milling

K.M. Sugar Mills Ltd. Business Overview & Revenue Model

Company Description

K.M. Sugar Mills Limited engages in manufacturing and sells of sugar in India. The company operates through Sugar and Distillery segments. It also produces and sells various grades of sugar in jute bags and PP bags; and rectified spirit, ethanol, and...

How the Company Makes Money

K.M. Sugar Mills Ltd. primarily makes money by selling sugar produced from processing sugarcane. Revenue is typically generated from (1) sales of sugar (the core product), and (2) sales of by-products produced during the sugar manufacturing process (...

K.M. Sugar Mills Ltd. Financial Statement Overview

Summary

Profitability, equity, leverage, and returns have improved, but volatile commodity-linked margins and uneven cash generation limit the score.

Income Statement

72Positive

Balance Sheet

78Positive

Cash Flow

60Neutral
Financial statement breakdown
BreakdownTTMMar 2026Mar 2025Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue6.40B6.58B6.59B6.57B5.76B5.48B
Gross Profit1.72B1.62B2.12B1.65B1.28B1.38B
EBITDA917.50M867.60M890.60M782.46M610.58M820.63M
Net Income481.20M534.20M355.50M280.93M232.15M414.69M
Balance Sheet
Total Assets07.50B7.30B7.79B7.03B6.43B
Cash, Cash Equivalents and Short-Term Investments75.47M87.10M114.30M75.37M61.55M89.40M
Total Debt02.50B2.82B2.91B2.68B2.24B
Total Liabilities-3.92B3.58B3.91B4.76B4.28B3.90B
Stockholders Equity3.92B3.92B3.39B3.03B2.75B2.52B
Cash Flow
Free Cash Flow2.14B312.20M159.60M29.23M-28.80M-28.06M
Operating Cash Flow2.54B830.80M313.30M287.61M730.48M53.21M
Investing Cash Flow-340.90M-533.60M-72.20M-341.55M-1.05B-116.99M
Financing Cash Flow-2.23B-321.10M-275.30M68.06M298.11M93.97M

K.M. Sugar Mills Ltd. Technical Analysis

Technical Analysis SentimentPositive
Last Price30.94

Price Trends

50DMA26.45Positive
100DMA24.28Positive
200DMA22.76Positive

Market Momentum

MACD1.43Negative
RSI60.63Neutral
STOCH49.46Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KMSUGAR, the sentiment is Positive. The current price of 30.94 is above the 20-day moving average (MA) of 28.77, above the 50-day MA of 26.45, and above the 200-day MA of 22.76, indicating a bullish trend. The MACD of 1.43 indicates Negative momentum. The RSI at 60.63 is Neutral, neither overbought nor oversold. The STOCH value of 49.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:KMSUGAR.

K.M. Sugar Mills Ltd. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

IN:KMSUGAR against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
IN:KMSUGARIN:KMSUGAR73OutperformINR 2.85B5.84――-8.26%15.48%
IN:PONNIERODEIN:PONNIERODE68NeutralINR 2.75B4.86―1.56%28.11%200.80%
IN:SAKHTISUGIN:SAKHTISUG61NeutralINR 1.92B6.99――16.25%30.67%
IN:RANASUGIN:RANASUG58NeutralINR 1.80B30.61――-5.87%-84.48%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
IN:KCPSUGINDIN:KCPSUGIND53NeutralINR 2.76B7.25―0.42%-0.91%―
IN:KOTARISUGIN:KOTARISUG45NeutralINR 1.86B34.05――-8.21%-55.42%

* General Sector Average

Performance Comparison

-20%0%20%40%IN:KMSUGARIN:KCPSUGINDIN:KOTARISUGIN:PONNIERODEIN:RANASUGIN:SAKHTISUGDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
IN:KMSUGAR and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
IN:KMSUGARK.M. Sugar Mills Ltd.30.948.6538.82%
IN:KCPSUGINDKCP Sugar & Industries Corp. Ltd.24.37-6.61-21.34%
IN:KOTARISUGKothari Sugars & Chemicals Ltd.22.47-8.25-26.86%
IN:PONNIERODEPonni Sugars (Erode) Ltd.319.8020.566.87%
IN:RANASUGRana Sugars Limited11.70-2.80-19.31%
IN:SAKHTISUGSakthi Sugars Limited16.17-4.50-21.77%

K.M. Sugar Mills Ltd. Corporate Events

K.M. Sugar Mills Finalizes Distillery Demerger, Cancels Stake in K.M. Spirits

Oct 12, 2026

K.M. Sugar Mills Ltd. has completed a key step in the court-approved demerger of its distillery division into K.M. Spirits and Allied Industries Limited, with the resulting company’s board approving the allotment of 18,400,034 fully paid equity...

K.M. Sugar Mills Completes Demerger; Distillery Subsidiary Ceases to Be Under Its Control

Oct 12, 2026

K.M. Sugar Mills Ltd., a listed sugar manufacturing company with operations in Uttar Pradesh and a presence on both BSE and NSE, has historically managed its distillery activities through a wholly owned subsidiary, KM Spirits and Allied Industries Lt...

K.M. Sugar Mills’ Distillery Demerger Scheme Becomes Effective

Oct 1, 2026

K.M. Sugar Mills Ltd. announced that the Scheme of Arrangement for the demerger of its Distillery Division into KM Spirits and Allied Industries Ltd. has become effective as of October 1, 2026. Following the filing of the certified NCLT order with th...

K.M. Sugar Mills Sets Effective and Record Dates for Distillery Demerger

Sep 19, 2026

K.M. Sugar Mills Ltd. has announced key dates linked to the demerger of its distillery division into KM Spirits and Allied Industries Ltd., following approval of a court-sanctioned scheme of arrangement. The Board has set October 1, 2026, as the effe...

NCLT clears K.M. Sugar Mills demerger of distillery unit into KM Spirits

Aug 22, 2026

K.M. Sugar Mills Ltd. has announced that the National Company Law Tribunal, Allahabad Bench, has sanctioned its Scheme of Arrangement for the demerger of the company’s Distillery Division into KM Spirits and Allied Industries Ltd. The order, pr...

K.M. Sugar Mills Reports Clean Audits and Completes 53rd AGM via Virtual Meeting

Jul 28, 2026

K.M. Sugar Mills Ltd., a listed sugar manufacturer based in Uttar Pradesh with operations in Motinagar and a registered office in Lucknow, convened its 53rd Annual General Meeting on July 28, 2026 via video conferencing in compliance with Ministry of...

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 20, 2026