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Swing Capital

Vishwaraj Sugar Industries Ltd

NSE: VISHWARAJ BSE: 542852Energy

Incorporated in 1995, Vishwaraj Sugar Industries Ltd does production and sale of sugar, alcoholic spirits by distillation including ethanol, blending and bottling of Indian made foreign liquor, vinegar and generation of power[1]

₹5.3
52W: ₹4.1 — ₹11.9
PE 0 · Book ₹11.1 · -52% vs book
Market Cap₹115 Cr
Stock P/E—Price to Earnings
ROCE0.49%Return on Capital
ROE13.5%Return on Equity
Div. Yield0%Face Value ₹2

Strengths

  • +Stock is trading at 0.46 times its book value

Weaknesses

  • −Company has low interest coverage ratio.
  • −The company has delivered a poor sales growth of 4.56% over past five years.
  • −Promoter holding is low: 29.0%
  • −Company has a low return on equity of -5.65% over last 3 years.
  • −Earnings include an other income of Rs.9.92 Cr.
  • −Promoter holding has decreased over last 3 years: -4.64%

Shareholding Pattern

Promoters29.05%
FIIs0%
DIIs2.03%
Public68.91%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters33.7%29.05%▼4.729.05%29.04%▼0.029.05%▲0.029.05%29.05%29.05%
FIIs0.13%3.3%▲3.21.38%▼1.90.4%▼1.00.09%▼0.30%▼0.10.03%▲0.00%▼0.0
DIIs0%6.37%▲6.45.5%▼0.95.79%▲0.35.74%▼0.03.76%▼2.03.75%▼0.02.03%▼1.7
Public66.18%61.28%▼4.964.07%▲2.864.77%▲0.765.13%▲0.467.19%▲2.167.18%▼0.068.91%▲1.7

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales138.05106.24163.71101.2592.7893.2166.68133.0655.0477.68
Expenses139.4262.86141.2108.18103.975.95154.2140.5961.6878.24
Operating Profit-1.3743.3822.51-6.93-11.1217.2512.48-7.53-6.64-0.56
OPM %-0.99%40.83%13.75%-6.84%-11.99%18.51%7.49%-5.66%-12.06%-0.72%
Net Profit-11.3331.242.3-17.29-21.740.632.06-16.39-14.37-6.71
EPS ₹-0.61.660.12-0.92-10.030.09-0.75-0.66-0.31

AI Insights

Revenue Trend

TTM revenue at ₹432Cr, down 4.4% YoY. OPM at -1%.

Debt Position

Borrowings at ₹307Cr. Debt-to-equity ratio: 1.49x. High leverage — monitor closely.

Capex Cycle

CWIP at ₹226Cr (84% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 2.03% (+2.03pp change). FIIs: 0% (-0.09pp change). Promoters hold 29.05%.

Margin & Efficiency

ROCE declining from 26% (Mar 2011) to 0% (Mar 2025). Working capital days: -32.

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