Shree Renuka Sugars Share Price Target 2024 2025 2026 2027 2028 2029 2030 Fundamentals & Quarterly Results – Narendra Murkumbi & Vidya Murkumbi founded Shree Renuka Sugars in 1998. It is headquartered in Belagavi, Karnataka and is among the top sugar producers in India. Renuka Sugars Ltd has an installed capacity of 4000 tonnes/day for refined sugar and 600 kiloliter/dayon ethanol production.
Latest Update : -19.75% decline in net profit of Shree Renuka Sugars Ltd when compared with that of the same period last year brings the total to ₹-165.50Cr for Q1 2024-2025. In terms of quarterly growth Shree Renuka Sugars Ltd has suffered a -48.16% fall in its net profits over the past 3 months.
Shree Renuka Sugars Overview
Contents
Established in 1995, Shree Renuka Sugars Ltd undertakes the production and refining sugar, ethyl alcohol and ethanol as well as generation and marketing of power.
| Company Name | Shree Renuka Sugars Ltd |
|---|---|
| Listed at | NSE & BSE |
| Head Office | Shree Renuka Sugars Limited, 7th Floor, Devchand House, Shiv Sagar Estate, Dr. Annie Besant Road, Worli, Mumbai |
| Board Of Directors |
|
| Official Website | renukasugars.com |
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Shree Renuka Sugars Business Profile
SRSL is just a part of Wilmar Sugar Holdings Pte Limited that is completely controlled by Wilmar Group’s Wilmar International Limited as the only parent company. Specializing in sugar, EEG based bio-fuel and power systems business it operates integrated sugar factories as well as port based refineries in India.
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Integrated Sugar Mill
The company runs six sugar mills in Karnataka and Maharashtra, which are used for processing sugarcane to produce sugar, ethanol, power and organic manures. It has a total crushing capacity of 7.1 million tons per annum or 37,500 tons every day and a distillery capacity of 930 thousand litres per day (KLPD) .
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Sugar Refineries
The company has two sugar refineries based on the port with a refining capacity of 1.7 MTPA.
Product
- Sugar -The brand that is used for Madhur Sugars, a manufacturer of White Refined Sugar, is purely limited to manufacturing and selling the said sugar, known as Madhur Sugars Company.
- Ethanol-The company sells ethyl alcohol or ethanol which is made as a by-product of the sugar manufacture to the chemical industry and the alcohol industry as well as fuel for autos. Furthermore, the firm at its distilleries manufactures three grades of ethanol namely Absolute Alcohol, Rectified Spirit and Extra Neutral Alcohol.
- Power -The enterprise generates green energy from bagasse, a by-product of sugarcane, for its own use as well as for selling to electric power corporations within India.
- Bhumadur Organic Manure -The company produces an organic manure called Bhumadur from sugar press mud and distillery waste; this manure consists of a large quantity of organic matter, micronutrients, macronutrients and useful microorganisms.
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Expansion
The company will be doubling its distillery capacity from 720 KLPD up to 1,400 KLPD by FY2024, where 1,250 KLPD will be available by Q4FY23. Rs. 700 crore of capital cost will be sourced by the corporation from debt side at Rs. 590 crore and balance as fresh equity.
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Debt Levels
The Company raised its outstanding loans to 5,569 cr in the Finyear 2023. This has been done to finance the distillery capital expenditure needs and also due to increased working capital needs. It appears that the company has a shortfall of funds as far as net assets are concerned because they want to issue shares to reduce loan balance and finance their expansion goals.
Borrowings
In the FY21, Wilmar Sugar Holdings Pte. Ltd (Parent co) has injected an amount of USD 300 million as an external commercial loan and Rs 185 crore as preference shares in the company. Utilization of this finance by the company is directed towards prepayment of entire term loans classified under NPA, as well as working capital limits and total redemption of unsustainable debt instruments such as NCDs, OCPSs and RPSs.
Commencement
The company started the commissioning process for its expanded production capacity of ethanol at Athani and Munoli plants on the 13th day of February 2023, going from 300KPLD to 450KPLD and 120KPLD to 500KPLD respectively.
Shree Renuka Sugars Fundamentals & Quarterly Results
| Market Cap | ₹ 9,057 Cr. |
| Current Price | ₹ 42.6 |
| High / Low | ₹ 57.2 / ₹ 39.3 |
| Stock P/E | |
| Book Value | ₹ -5.59 |
| Dividend Yield | 0.00 % |
| ROCE | 9.41 % |
| ROE | |
| Face Value | ₹ 1.00 |
| Debt to equity | |
| Debt Capacity | -0.55 |
| Debt preceding year | ₹ 5,234 Cr. |
| Debt | ₹ 5,198 Cr. |
| Reserves | ₹ -1,402 Cr. |
| EPS | ₹ -2.22 |
| EPS last year | ₹ -0.93 |
| Pledged percentage | 0.00 % |
| FCF Prev Ann | ₹ -410 Cr. |
| EVEBITDA | 18.7 |
| Industry PE | 11.8 |
| PEG Ratio | |
| Piotroski score | 7.00 |
| Earnings yield | 3.53 % |
Shree Renuka Sugars Quarterly Results
| Financial | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,014 | 2,173 | 1,953 | 2,188 | 2,552 | 2,328 | 2,284 | 2,555 | 3,014 |
| Expenses | 1,843 | 1,898 | 1,901 | 2,142 | 2,344 | 2,070 | 2,213 | 2,491 | 2,822 |
| Operating Profit | 171 | 274 | 52 | 46 | 207 | 259 | 71 | 64 | 192 |
| OPM % | 9% | 13% | 3% | 2% | 8% | 11% | 3% | 2% | 6% |
| Other Income | 11 | 18 | 17 | 16 | 12 | 42 | 71 | 10 | 48 |
| Interest | 91 | 100 | 124 | 134 | 144 | 190 | 214 | 217 | 244 |
| Depreciation | 48 | 52 | 58 | 60 | 60 | 60 | 64 | 64 | 69 |
| Profit before tax | 44 | 141 | -113 | -132 | 15 | 50 | -137 | -207 | -74 |
| Tax % | 0% | -13% | -1% | -7% | 4% | 12% | -1% | 1% | -133% |
| Net Profit | 43 | 159 | -114 | -142 | 14 | 45 | -139 | -206 | -172 |
| EPS in Rs | 0.20 | 0.73 | -0.53 | -0.66 | 0.07 | 0.20 | -0.65 | -0.96 | -0.81 |
CAGR Report
| Metric | 10 Years | 5 Years | 3 Years | TTM (Trailing Twelve Months) |
|---|---|---|---|---|
| Compounded Sales Growth | -1% | 8% | 23% | 15% |
| Compounded Profit Growth | 14% | -465% | ||
| Stock Price CAGR | 7% | 33% | 49% | -4% |
| Return on Equity |
| Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|
| Promoter Holding (%) | 62.48% | 62.48% | 62.48% | 62.48% | 62.48% | 62.48% | 62.48% |
| FII Holding (%) | 4.08% | 4.19% | 4.34% | 2.93% | 3.16% | 3.22% | 3.36% |
| DII Holding (%) | 10.50% | 10.44% | 10.10% | 10.10% | 10.12% | 10.10% | 10.08% |
| Public Holding (%) | 22.94% | 22.88% | 23.07% | 24.49% | 24.23% | 24.20% | 24.06% |
| No. of Shareholders | 4,57,212 | 4,79,495 | 5,00,858 | 5,15,823 | 6,03,707 | 6,78,153 | 7,14,811 |
| Year | Minimum Target | Maximum Target |
|---|---|---|
| 2024 | ₹52 | ₹68 |
| 2025 | ₹70 | ₹86 |
| 2026 | ₹89 | ₹106 |
| 2027 | ₹115 | ₹133 |
| 2028 | ₹146 | ₹162 |
| 2029 | ₹180 | ₹193 |
| 2030 | ₹200 | ₹239 |
| Month | Target |
|---|---|
| January | 55 |
| February | 44 |
| March | 40 |
| April | 42 |
| May | 47 |
| June | 51 |
| July | 57 |
| August | 61 |
| September | 64 |
| October | 67 |
| November | 66 |
| December | 70 |
| Month | Target |
|---|---|
| January | 74 |
| February | 64 |
| March | 60 |
| April | 58 |
| May | 62 |
| June | 67 |
| July | 70 |
| August | 75 |
| September | 80 |
| October | 82 |
| November | 85 |
| December | 89 |
| Month | Target |
|---|---|
| January | 95 |
| February | 90 |
| March | 78 |
| April | 82 |
| May | 87 |
| June | 91 |
| July | 94 |
| August | 99 |
| September | 105 |
| October | 110 |
| November | 109 |
| December | 115 |
| Month | Target |
|---|---|
| January | 125 |
| February | 114 |
| March | 100 |
| April | 102 |
| May | 110 |
| June | 114 |
| July | 124 |
| August | 130 |
| September | 137 |
| October | 140 |
| November | 142 |
| December | 146 |
| Month | Target |
|---|---|
| January | 155 |
| February | 148 |
| March | 140 |
| April | 143 |
| May | 147 |
| June | 154 |
| July | 160 |
| August | 165 |
| September | 171 |
| October | 173 |
| November | 176 |
| December | 180 |
| Month | Target |
|---|---|
| January | 185 |
| February | 177 |
| March | 170 |
| April | 172 |
| May | 174 |
| June | 176 |
| July | 180 |
| August | 187 |
| September | 184 |
| October | 190 |
| November | 194 |
| December | 200 |
Official Website – renukasugars.com