K.M. Sugar Mills Limited (KMSUGAR.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

+253.5%

₹115.11

vs ₹32.56 price

Levered DCF

₹309.36

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B+

Overall 3 / 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	4.33×	7.16×	9.79×	10.3×	6.49×	4.09×	3.13×	3.57×
P/B	0.59×	0.75×	0.91×	0.87×	1.07×	0.5×	0.31×	0.51×
P/S	0.35×	0.39×	0.42×	0.41×	0.49×	0.22×	0.12×	0.22×
EV / EBITDA	5.47×	5.98×	7.14×	8.2×	5.91×	5.14×	3.8×	3.76×
Gross margin	24.6%	32.2%	25.0%	22.2%	25.2%	23.2%	19.2%	13.1%
Operating margin	9.8%	9.1%	7.5%	6.1%	11.4%	9.7%	7.8%	7.1%
Net margin	8.1%	5.4%	4.3%	4.0%	7.6%	5.4%	3.8%	6.2%
Current ratio	1.21×	1.12×	1.02×	1.04×	1.19×	1.2×	1.19×	1.14×
Debt / equity	0.64×	0.83×	0.96×	0.97×	0.89×	0.94×	0.93×	0.64×
Interest coverage	5.53×	3.29×	2.99×	2.53×	5.32×	4.27×	2.16×	3.62×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.7%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	4.4%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	13.6%	10.5%	9.3%	8.4%	16.4%	12.3%	9.9%	14.3%
Return on invested capital	7.3%	6.9%	5.9%	4.7%	9.5%	8.4%	6.6%	7.2%
Return on assets	7.1%	4.9%	3.6%	3.3%	6.5%	4.2%	3.5%	4.9%
Free cash flow yield	13.5%	6.3%	1.1%	-1.2%	-1.0%	-12.9%	-32.7%	-19.5%
Earnings yield	23.1%	14.0%	10.2%	9.7%	15.4%	24.5%	32.0%	27.9%
Enterprise value	₹4.7B	₹5.3B	₹5.6B	₹5B	₹4.8B	₹3B	₹2.3B	₹1.9B
Net debt / EBITDA	2.8×	3.12×	3.63×	4.29×	2.63×	3.32×	2.84×	2.05×
Cash conversion cycle (days)	232	241	189	170	210	197	141	92