Dwarikesh Sugar Industries Ltd.

Financial

	Dwarikesh Sugar Inds	Uttam Sugar Mills	Piccadily Agro Inds
Operational Metrics
Sugar Sector
Sugar Recovery	11.2 %	10.57 %	10.05 %
Realization / Litre - Distillery	60.7 Rs/L	58.98 Rs/L	n/a
Realization / Unit - Cogeneration	3.4 Rs/Unit	4.02 Rs/Unit	n/a
Realization / Kg - Sugar	37.63 Rs/Kg	35.92 Rs/Kg	n/a
Capacity Utilization - Cogeneration	37.39 %	n/a	n/a
Financials
5 yr Average ROE	17.75 %	22.24 %	9.24 %
5yr average Equity Multiplier	2.65	4.97	2.75
5yr Average Asset Turnover Ratio	1.12	1.05	0.94
5yr Avg Net Profit Margin	6.41 %	4.76 %	3.56 %
Price to Book	1.63	2.22	20.43
P/E	16.0	8.51	63.22
5yr Avg Cash Conversion Cycle	106.28 Days	87.11 Days	7.95 Days
Inventory Days	180.79 Days	190.95 Days	117.87 Days
Days Receivable	9.21 Days	9.64 Days	34.33 Days
Days Payable	53.79 Days	120.95 Days	161.09 Days
5yr Average Interest Coverage Ratio	5.54	2.76	2.63
5yr Avg ROCE	19.45 %	31.04 %	16.12 %
5yr Avg Operating Profit Margin	12.58 %	13.02 %	10.66 %
5 yr average Debt to Equity	1.1	2.16	0.72
5yr CAGR Net Profit	1.96 %	16.29 %	59.99 %
5yr Average Return on Assets	6.97 %	5.16 %	3.47 %
Shareholdings
Promoter Holding	42.09 %	73.7 %	70.97 %
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	0.01 %	-1.3 %	0.07 %
Change in Mutual Fund Holding (3 Yrs)	-3.91 %	0.0	0.0

Business

	Dwarikesh Sugar Inds	Uttam Sugar Mills	Piccadily Agro Inds
Segment Break-Up	Segment Break-Up Sugar 78.04 Distillery 21.96 Co-Generation 0	-	-
Product Wise Break-Up	Product Wise Break-Up Sugar 69.59 Power 2.31 Molasses 0.3 Distillery 0 Others 27.8	Product Wise Break-Up Power 6.33 Molasses 0 Distillery 10.33 Sugar 83.34	Product Wise Break-Up Power 0 Molasses 0 Distillery 65.4 Sugar 34.39 Others 0.21
Location Wise Break-Up	Location Wise Break-Up India 83.13 Rest of the World 16.87	Location Wise Break-Up India 67.0 Rest of the World 0 Others 33.0	-
Capex	Capex Distillery 58.86 Co-Generation 29.28 Sugar 11.86 Cogeneration 0	Capex Cogeneration 1.02 Co-Generation 0 Distillery 34.21 Sugar 63.67 Others 1.1	-
Operating Profit Break-Up	Operating Profit Break-Up Distillery 61.8 Sugar 38.2 Cogeneration 0	Operating Profit Break-Up Co-Generation 13.78 Distillery 6.17 Sugar 80.05	Operating Profit Break-Up Cogeneration 0 Distillery 90.56 Processed Sugar 9.44
Customer Wise Break-Up	Customer Wise Break-Up Others 100	-	-
Asset Break-Up	Asset Break-Up Distillery 0 Cogeneration 0 Sugar 0 Others 100	Asset Break-Up Cogeneration 5.42 Distillery 25.14 Sugar 67.95 Others 1.49	Asset Break-Up Cogeneration 0 Distillery 81.74 Processed Sugar 18.26