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Ugar Sugar Works Ltd (UGARSUGAR) AI Stock Analysis

IN:UGARSUGAR

Ugar Sugar Works Ltd

(NSE:UGARSUGAR)

Select Model
Rating:58Neutral
Price Target:INR 43.00â–²(4.27% Upside)
Action:reiterated
Date:09/30/26

Volatile financials with erratic cash flows and recent losses are the primary drags, while positive technical momentum and high dividend yield provide offsetting support.

Positive Factors
Multiple Product StreamsRevenue is anchored in sugar manufacturing, while molasses and bagasse provide additional monetization channels. This by-product structure can improve resource utilization and broaden revenue sources beyond primary sugar sales, although results remain exposed to industry cyclicality.
Negative Factors
High LeverageHigh and rising debt leaves the company more sensitive to earnings and cash-flow fluctuations. Elevated leverage can restrict financial flexibility, increase dependence on funding availability, and reduce the capacity to absorb prolonged weakness in sugar profitability or operating conditions.

Ugar Sugar Works Ltd (UGARSUGAR) vs. iShares MSCI India ETF (INDA)

-20%-10%0%10%20%30%40%50%60%IN:UGARSUGAR-2.36%INDA-12.02%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
INR 4.63B
Dividend Yield
0.24%
Average Volume (3M)
72.74K
Price to Earnings (P/E)
16.8
Beta (1Y)
1.11
Revenue Growth
-0.70%
EPS Growth
184.81%
Country
India
Employees
905
Sector
General
Sector Strength
55
Industry
Food Confectioners

Ugar Sugar Works Ltd Business Overview & Revenue Model

Company Description

Operating predominantly in India, The Ugar Sugar Works Limited is a key producer and vendor of sugar, alongside a diverse range of industrial and consumable alcoholic products. Its core offerings feature white crystal sugar, accompanied by significan...

How the Company Makes Money

Ugar Sugar Works Ltd primarily makes money by converting sugarcane into saleable sugar and selling it into the domestic market through wholesale/industrial buyers and distribution channels. Key revenue streams include: (1) Sugar sales: Revenue from t...

Ugar Sugar Works Ltd Financial Statement Overview

Summary

Revenue volatility, inconsistent profits with recent losses, and erratic cash flows highlight risks, despite asset growth.

Income Statement

42Neutral

Balance Sheet

55Neutral

Cash Flow

35Negative
Financial statement breakdown
BreakdownTTMMar 2026Mar 2025Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue15.42B14.84B13.30B11.51B17.94B11.14B
Gross Profit1.48B1.01B1.63B1.96B3.58B1.88B
EBITDA1.31B1.11B538.25M1.03B2.11B1.01B
Net Income276.36M136.12M-162.50M211.43M1.03B433.28M
Balance Sheet
Total Assets8.22B13.20B11.31B10.85B9.16B11.64B
Cash, Cash Equivalents and Short-Term Investments183.13M157.50M217.01M259.38M177.94M72.70M
Total Debt4.47B6.68B6.11B5.66B4.00B7.00B
Total Liabilities6.20B10.87B9.15B8.50B6.96B10.42B
Stockholders Equity2.01B2.34B2.16B2.35B2.21B1.22B
Cash Flow
Free Cash Flow0-547.63M-561.42M-1.40B3.35B-385.42M
Operating Cash Flow0-308.09M213.06M-373.18M3.94B930.02M
Investing Cash Flow0-258.92M-725.84M-982.60M-484.19M-1.31B
Financing Cash Flow0569.67M520.28M1.31B-3.46B391.51M

Ugar Sugar Works Ltd Technical Analysis

Technical Analysis SentimentNegative
Last Price41.24

Price Trends

50DMA54.08Negative
100DMA47.81Negative
200DMA43.52Negative

Market Momentum

MACD-3.42Positive
RSI30.22Neutral
STOCH8.21Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:UGARSUGAR, the sentiment is Negative. The current price of 41.24 is below the 20-day moving average (MA) of 52.33, below the 50-day MA of 54.08, and below the 200-day MA of 43.52, indicating a bearish trend. The MACD of -3.42 indicates Positive momentum. The RSI at 30.22 is Neutral, neither overbought nor oversold. The STOCH value of 8.21 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:UGARSUGAR.

Ugar Sugar Works Ltd Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

IN:UGARSUGAR against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
IN:UGARSUGARIN:UGARSUGAR58NeutralINR 4.64B16.78―0.24%-0.70%184.81%
IN:MAWANASUGIN:MAWANASUG57NeutralINR 5.84B21.07―2.68%8.61%-72.58%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
IN:DWARKESHIN:DWARKESH53NeutralINR 7.60B52.56―0.24%-4.81%-38.80%
IN:DCMSRINDIN:DCMSRIND49NeutralINR 7.98B20.51―0.65%-32.29%-70.25%
IN:DAVANGEREIN:DAVANGERE45NeutralINR 3.32B36.59――28.91%-51.07%
IN:KOTARISUGIN:KOTARISUG45NeutralINR 1.86B34.05――-8.21%-55.42%

* General Sector Average

Performance Comparison

-50%0%50%100%IN:UGARSUGARIN:DAVANGEREIN:DCMSRINDIN:DWARKESHIN:KOTARISUGIN:MAWANASUGDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
IN:UGARSUGAR and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
IN:UGARSUGARUgar Sugar Works Ltd41.24-1.53-3.57%
IN:DAVANGEREDavangere Sugar Company Limited1.96-1.79-47.73%
IN:DCMSRINDDCM Shriram Industries Limited61.136.6612.23%
IN:DWARKESHDwarikesh Sugar Industries Ltd.41.01-1.56-3.66%
IN:KOTARISUGKothari Sugars & Chemicals Ltd.22.47-8.25-26.86%
IN:MAWANASUGMawana Sugars Limited149.3565.2777.64%

Ugar Sugar Works Ltd Corporate Events

Ugar Sugar Works Reshapes Board, Names Chairman Emeritus

Aug 11, 2026

Ugar Sugar Works Ltd has announced changes to its board, with Independent Director Mr. Hari Athawale retiring upon completion of his term and ceasing to be an Independent Director from the close of business on 11 August 2026. On the same date, Non-Ex...

Ugar Sugar Reshapes Board as Director Retires and Veteran Becomes Chairman Emeritus

Aug 11, 2026

Ugar Sugar Works Ltd has announced that independent director Hari Athawale will retire from the board upon completion of his term, ceasing to serve as a non-executive independent director from the close of business on 11 August 2026. On the same date...

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: Sep 30, 2026