Dhampur Sugar Mills Limited (DHAMPURSUG.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+173.5%

₹450.97

vs ₹164.86 price

Levered DCF

₹1,162.35

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.71

Distress zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	14.05×	15.6×	10.87×	9.42×	24.64×	5.29×	2.53×	6.23×
P/B	0.76×	0.71×	1.33×	1.42×	4.01×	0.78×	0.4×	1.28×
P/S	0.46×	0.42×	0.67×	0.6×	1.89×	0.6×	0.16×	0.55×
EV / EBITDA	9.16×	9.59×	8.17×	6.89×	14.78×	7.28×	5.63×	6.68×
Gross margin	15.3%	22.2%	24.5%	14.7%	24.6%	18.2%	16.4%	25.9%
Operating margin	5.7%	18.1%	20.3%	10.7%	12.2%	11.5%	8.8%	14.5%
Net margin	3.3%	2.7%	6.2%	6.4%	7.7%	11.3%	6.5%	8.8%
Current ratio	1.37×	1.29×	1.21×	1.24×	1.12×	1.2×	1.08×	1.08×
Debt / equity	0.75×	0.81×	0.89×	0.71×	1×	0.74×	1.29×	1.49×
Interest coverage	2.28×	7.04×	9.87×	5.54×	4.51×	5.92×	2.45×	4.02×
Dividend yield	0.0%	0.0%	2.7%	2.7%	0.0%	3.3%	13.1%	1.8%
Payout ratio	0.3%	0.4%	29.7%	25.3%	0.1%	17.4%	33.1%	11.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	5.4%	4.5%	12.2%	15.1%	16.3%	14.7%	15.9%	20.5%
Return on invested capital	3.8%	11.3%	14.1%	10.0%	9.0%	6.0%	9.3%	10.5%
Return on assets	2.7%	2.2%	5.7%	7.4%	6.7%	6.6%	5.6%	6.4%
Free cash flow yield	19.5%	22.1%	-8.7%	15.8%	-2.5%	65.3%	50.7%	-18.6%
Earnings yield	7.1%	6.4%	9.2%	10.6%	4.1%	18.9%	39.6%	16.1%
Enterprise value	₹18B	₹16.3B	₹24.4B	₹21.9B	₹43.9B	₹23B	₹22.9B	₹33.8B
Net debt / EBITDA	4.51×	4.79×	3.28×	2.22×	2.83×	3.44×	4.29×	3.59×
Cash conversion cycle (days)	175	212	207	115	192	226	168	224