Uttam Sugar Mills Limited (UTTAMSUGAR.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

+128.5%

₹791.93

vs ₹346.60 price

Levered DCF

₹675.47

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

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	9.5×	11.4×	9.6×	7.14×	6.14×	5.81×	3.8×	8.93×
P/B	1.09×	1.28×	1.82×	1.53×	1.79×	1.03×	0.69×	2.22×
P/S	0.43×	0.55×	0.62×	0.43×	0.41×	0.19×	0.12×	0.42×
EV / EBITDA	7.27×	8.29×	7.45×	5.87×	5.18×	5.28×	5.28×	6.92×
Gross margin	16.7%	18.3%	27.0%	20.1%	15.1%	21.4%	21.0%	23.1%
Operating margin	8.2%	9.0%	11.2%	10.6%	11.9%	10.4%	9.7%	11.8%
Net margin	4.6%	4.8%	6.5%	6.0%	6.6%	3.3%	3.1%	4.7%
Current ratio	1.19×	1.12×	1.11×	1.04×	0.99×	0.95×	0.95×	0.94×
Debt / equity	0.82×	1.06×	1.09×	1.03×	1.38×	2.43×	2.84×	3.1×
Interest coverage	3.48×	2.94×	4.11×	4.15×	3.22×	2.2×	2.02×	1.81×
Dividend yield	1.1%	1.1%	0.9%	1.1%	0.0%	0.0%	0.0%	0.0%
Payout ratio	10.3%	12.0%	8.3%	7.5%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.4%	11.2%	19.0%	21.4%	29.2%	17.7%	18.1%	24.8%
Return on invested capital	7.7%	6.8%	10.7%	12.6%	15.0%	8.0%	8.3%	11.1%
Return on assets	5.2%	4.1%	7.4%	7.6%	8.6%	3.4%	3.0%	3.3%
Free cash flow yield	17.6%	5.4%	-7.1%	12.2%	34.4%	24.8%	-18.6%	17.5%
Earnings yield	10.5%	8.8%	10.4%	14.0%	16.3%	17.2%	26.3%	11.2%
Enterprise value	₹16.7B	₹18.3B	₹20.3B	₹14.7B	₹14.6B	₹11.6B	₹10B	₹12.3B
Net debt / EBITDA	3.11×	3.74×	2.78×	2.34×	2.24×	3.7×	4.24×	4.01×
Cash conversion cycle (days)	164	242	196	136	121	122	131	149