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Mawana Sugars Limited
(MAWANASUG)
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Rating:57Neutral
Price Target:
₹140.00
▲(28.09% Upside)
Action:Reiterated
Date:08/22/26
The score is held back primarily by inconsistent profitability and weaker cash generation in the latest year (sharp net income and free-cash-flow declines), despite a steadier balance sheet. Technically, the stock is in a strong uptrend, but overbought signals (high RSI/Stoch) temper the technical score. Valuation is only moderately supportive with a mid-level P/E and a modest dividend yield.
Positive Factors
Sugar and ethanol diversification
Exposure to both sugar and ethanol gives Mawana Sugars multiple revenue streams within an integrated industry platform. Ethanol demand is supported by India’s blending programs, while by-products such as molasses and bagasse can add value beyond core sugar sales.
Negative Factors
Sharp profit deterioration
The steep decline in gross profit and net income shows that earnings power is not yet consistent. Margin pressure or higher costs can reduce the company’s ability to reinvest, service obligations, and benefit from revenue growth, making results more vulnerable across coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Sugar and ethanol diversification
Exposure to both sugar and ethanol gives Mawana Sugars multiple revenue streams within an integrated industry platform. Ethanol demand is supported by India’s blending programs, while by-products such as molasses and bagasse can add value beyond core sugar sales.
Read all positive factors
Mawana Sugars Limited (MAWANASUG) vs. iShares MSCI India ETF (INDA)
Market Cap
₹5.31B
Dividend Yield2.95%
Average Volume (3M)42.08K
Price to Earnings (P/E)19.1
Beta (1Y)1.05
Revenue Growth8.61%
EPS Growth-72.58%
CountryIN
Employees1,170
SectorGeneral
Sector StrengthN/A
IndustryFood Confectioners
Share Statistics
EPS (TTM)7.04
Shares Outstanding39,116,863
10 Day Avg. Volume28,804
30 Day Avg. Volume42,082
Financial Highlights & Ratios
PEG Ratio-0.15
Price to Book (P/B)0.70
Price to Sales (P/S)0.24
P/FCF Ratio17.64
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Mawana Sugars Limited Business Overview & Revenue Model
Company Description
Mawana Sugars Limited (MSL) manufactures and distributes sugar under its 'Mawana' brand, reaching both Indian and international markets. The company's operations are divided into three primary segments: Sugar, Power, and Distillery. Within its sug...
How the Company Makes Money
Mawana Sugars Limited primarily makes money by selling (1) sugar and (2) ethanol/distillery products, along with revenue from certain sugar-industry by-products. In the sugar business, the company earns revenue from the sale of sugar produced from...
Mawana Sugars Limited Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
63
Positive
Cash Flow
44
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.86B | 15.71B | 14.43B | 13.55B | 14.78B | 14.02B |
| Gross Profit | 2.12B | 1.98B | 3.31B | 2.37B | 2.19B | 1.65B |
| EBITDA | 1.00B | 1.05B | 1.31B | 1.18B | 785.90M | 2.11B |
| Net Income | 275.40M | 370.90M | 1.09B | 376.50M | 131.30M | 732.70M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 11.23B | 10.96B | 11.79B | 10.33B | 13.80B |
| Cash, Cash Equivalents and Short-Term Investments | 265.90M | 418.10M | 231.40M | 100.90M | 268.30M | 898.29M |
| Total Debt | 0.00 | 4.20B | 4.19B | 5.68B | 3.83B | 2.77B |
| Total Liabilities | -5.25B | 5.98B | 6.04B | 7.68B | 6.49B | 10.11B |
| Stockholders Equity | 5.25B | 5.25B | 4.92B | 4.10B | 3.84B | 3.70B |
Cash Flow | ||||||
| Free Cash Flow | 4.21B | 209.60M | 924.90M | -1.95B | 730.30M | 1.35B |
| Operating Cash Flow | 4.40B | 535.90M | 1.14B | -1.64B | 1.08B | 1.60B |
| Investing Cash Flow | -184.80M | -329.30M | 887.90M | 46.30M | -386.00M | 1.31B |
| Financing Cash Flow | -4.30B | -33.00M | -2.06B | 1.43B | -758.20M | -2.45B |
Mawana Sugars Limited Technical Analysis
Neutral
109.30
Price Trends
123.97
Positive
113.10
Positive
97.17
Positive
Market Momentum
4.94
Positive
50.71
Neutral
12.49
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MAWANASUG, the sentiment is Neutral. The current price of 109.3 is below the 20-day moving average (MA) of 141.37, below the 50-day MA of 123.97, and above the 200-day MA of 97.17, indicating a neutral trend. The MACD of 4.94 indicates Positive momentum. The RSI at 50.71 is Neutral, neither overbought nor oversold. The STOCH value of 12.49 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:MAWANASUG.
Mawana Sugars Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | ₹2.78B | 5.81 | ― | 0.73% | -8.26% | 15.48% | |
58 Neutral | ₹3.53B | 9.20 | ― | 0.32% | -0.91% | ― | |
57 Neutral | ₹5.31B | 19.12 | ― | 2.95% | 8.61% | -72.58% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹6.10B | 21.21 | ― | 0.18% | 17.18% | ― | |
49 Neutral | ₹5.28B | 13.61 | ― | 0.99% | -32.29% | -70.25% | |
46 Neutral | ₹3.00B | 39.40 | ― | ― | 28.91% | -51.07% |
* General Sector Average
IN:MAWANASUG
Mawana Sugars Limited
135.65
46.32
51.86%
IN:DAVANGERE
Davangere Sugar Company Limited
2.10
-1.83
-46.56%
IN:DCMSRIND
DCM Shriram Industries Limited
40.47
-11.99
-22.86%
IN:KCPSUGIND
KCP Sugar & Industries Corp. Ltd.
31.10
-1.18
-3.66%
IN:KMSUGAR
K.M. Sugar Mills Ltd.
30.24
2.05
7.27%
IN:UGARSUGAR
Ugar Sugar Works Ltd
54.21
9.50
21.24%
Mawana Sugars Limited Corporate Events
Mawana Sugars details 62nd AGM proceedings held via video conference
Jul 4, 2026
Mawana Sugars Limited held its 62nd Annual General Meeting on July 4, 2026, conducted via video conferencing and other audio-visual means in compliance with the Companies Act, 2013 and regulatory circulars from the Ministry of Corporate Affairs an...
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.