Key Financials Snapshot

TTM · Standalone · ₹ in Cr
Market Cap
₹8 Cr.
Stock P/E
-4.2
P/B
-0
Current Price
₹5.3
Book Value
₹ -115.1
Face Value
10
52W High
—
52W Low
—
Dividend Yield
0%

Riga Sugar Overview

Business

Riga Sugar Company Ltd. is engaged in the production and processing of sugar. Its core business model involves procuring sugarcane from local farmers, crushing it to extract juice, and processing it into various forms of sugar (e.g., crystal sugar). The company makes money primarily through the sale of processed sugar to wholesalers, industrial customers, and potentially direct consumers. Additionally, it derives revenue from the sale of by-products such such as molasses (used for distilleries or animal feed), bagasse (used for co-generation of power or paper manufacturing), and press mud (used as organic fertilizer).

Revenue Mix

Given the company name and industry, the primary revenue segment for Riga Sugar Company Ltd. is Sugar Manufacturing and Sales. This includes different grades of sugar produced. Secondary revenue streams would typically include:

Molasses: A by-product of sugar production, sold to distilleries for ethanol production or to animal feed manufacturers.

Bagasse: The fibrous residue after juice extraction, often used by sugar mills themselves for co-generation of electricity or sold to paper mills.

Press Mud: A residue from the clarification process, used as an organic fertilizer.

Specific revenue contribution percentages for each segment are not available.

Industry

The Indian sugar industry is highly regulated, cyclical, and largely fragmented. It is characterized by government intervention in sugarcane pricing (Fair and Remunerative Price - FRP, or State Advised Price - SAP), sugar release mechanisms, and export/import policies. The industry is sensitive to monsoon patterns affecting sugarcane output and global sugar price trends. Riga Sugar Company Ltd. operates within this competitive landscape, likely as one of many regional players. Its positioning relative to peers would depend on factors like crushing capacity, operational efficiency, integration levels (e.g., presence of a distillery or co-generation plant), and strength of farmer relationships in its catchment area.

MOAT

Traditional sugar manufacturing generally offers limited strong competitive advantages. Potential moats for a sugar company like Riga Sugar could include:

Location & Farmer Relationships: Strong, long-standing relationships with sugarcane farmers in its operational vicinity can ensure consistent raw material supply and potentially better procurement terms.

Operational Efficiency: Highly efficient mills with low cost of production, achieved through modern machinery, energy efficiency, and effective utilization of by-products.

Backward/Forward Integration: Presence of a distillery (for ethanol) or co-generation plant (for power) can diversify revenue streams, improve overall economics, and reduce dependency on volatile sugar prices, thus creating a more resilient business model. Without specific details, the extent of such integration for Riga Sugar is unknown.

Growth Drivers

Domestic Sugar Consumption: Steady growth in India's population and disposable incomes are likely to drive consistent domestic sugar demand.

Ethanol Blending Program: The Indian government's aggressive targets for ethanol blending with petrol provides a significant and stable demand for molasses/sugar syrup, offering a key diversification and revenue growth opportunity for sugar mills with distilleries.

Capacity Expansion & Integration: Expanding crushing capacity, upgrading technology, and establishing or enhancing backward/forward integration (e.g., setting up a new distillery or increasing co-generation capacity) can drive revenue and profitability growth.

Favorable Government Policies: Supportive policies related to cane pricing, ethanol procurement prices, and export subsidies can positively impact profitability.

Risks

Sugarcane Availability & Price Volatility: The business is highly dependent on agricultural output, which is susceptible to adverse weather conditions (monsoon failure, floods), pests, and diseases, impacting cane availability and quality. Government-mandated cane prices (FRP/SAP) may not always align with sugar realizations, affecting profitability.

Sugar Price Fluctuations: Domestic and global sugar prices are volatile, influenced by demand-supply dynamics, international prices, and government policies (e.g., sugar release quotas).

Regulatory Risks: Frequent changes in government policies regarding cane pricing, export/import duties, ethanol procurement, and stock limits can significantly impact business operations and financial performance.

High Working Capital Requirements: The seasonal nature of sugar production often leads to substantial working capital needs for inventory management.

Environmental Regulations: Increasing environmental scrutiny and regulations related to emissions, wastewater discharge, and solid waste management can lead to higher compliance costs.

Management & Ownership

In India, many sugar companies are promoted and managed by families or specific groups. Without specific information, it can be inferred that Riga Sugar Company Ltd. is likely run by its promoters. The quality of management would depend on their experience in the sugar industry, operational efficiency, ability to navigate policy challenges, and prudent financial management. The ownership structure typically involves promoter holdings, institutional investors, and public shareholders, but specific details are unavailable.

Outlook

The outlook for Riga Sugar Company, like other Indian sugar mills, presents a mixed picture. The long-term structural tailwind from the government's ethanol blending program is a significant positive, providing a more stable and diversified revenue stream that reduces the cyclicality traditionally associated with sugar price volatility. Companies with integrated distillery operations are well-positioned to benefit from this shift. However, the business remains inherently exposed to the vagaries of monsoon and agricultural cycles, impacting sugarcane availability and quality. Furthermore, heavy government intervention in cane pricing and sugar marketing adds a layer of regulatory risk. The company's performance will largely depend on its operational efficiencies, prudent financial management, its ability to maintain strong farmer relationships for cane supply, and its success in leveraging opportunities in the ethanol space while navigating the complex and often unpredictable policy environment.

Riga Sugar Share Price

Live · BSE · Inception: 1980
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Standalone · annual

Riga Sugar Quarterly Results

#(Fig in Cr.) Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2023 Sep 2023 Jun 2024 Sep 2024 Jun 2025 Jun 2026
Net Sales 0 2 0 0 0 0 0 0 6 29
Other Income 0 0 0 0 0 0 0 0 0 0
Total Income 0 2 0 0 0 0 0 0 6 29
Total Expenditure 3 3 1 2 1 1 0 0 5 32
Operating Profit -2 -1 -1 -2 -1 -0 -0 -0 1 -2
Interest 3 3 3 3 3 3 4 4 0 2
Depreciation 1 1 1 1 1 1 1 1 1 2
Exceptional Income / Expenses 0 0 0 -34 -10 0 0 0 0 0
Profit Before Tax -7 -5 -5 -41 -15 -5 -5 -6 -0 -6
Provision for Tax 0 0 0 0 0 0 0 0 -1 0
Profit After Tax -7 -5 -5 -41 -15 -5 -5 -6 1 -7
Adjustments 0 0 -0 0 0 0 -0 0 0 0
Profit After Adjustments -7 -5 -5 -41 -15 -5 -5 -6 1 -7
Adjusted Earnings Per Share -4.7 -3.7 -3.5 -28.4 -10.5 -3.4 -3.8 -3.8 0.9 -4.5

Riga Sugar Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2025 Mar 2026 TTM
Net Sales 198 163 186 180 182 96 155 153 79 6 29 35
Other Income 0 0 0 1 4 3 5 4 13 0 0 0
Total Income 198 163 186 181 186 99 160 157 92 6 29 35
Total Expenditure 178 147 181 168 170 97 182 161 108 13 25 37
Operating Profit 20 16 6 13 15 2 -22 -4 -15 -7 4 -1
Interest 16 13 16 14 15 18 20 15 18 0 1 10
Depreciation 7 6 4 4 4 5 5 5 5 1 6 5
Exceptional Income / Expenses -1 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax -4 -3 -14 -5 -4 -21 -46 -24 -38 -8 -3 -17
Provision for Tax -0 0 -4 -3 1 0 0 0 9 0 -1 -1
Profit After Tax -3 -3 -10 -2 -5 -21 -46 -24 -47 -8 -2 -17
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments -3 -3 -10 -2 -5 -21 -46 -24 -47 -8 -2 -17
Adjusted Earnings Per Share -3.5 -2.8 -9.8 -1.8 -3.3 -14.4 -32.1 -16.7 -32.8 -5.9 -1.2 -11.2

Riga Sugar Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2025 Mar 2026
Shareholder's Funds 67 66 88 88 71 50 3 -22 -69 268 266
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 36 36 28 31 31 23 10 0 0 0 0
Other Non-Current Liabilities 1 1 -2 -5 -4 -4 -4 -4 6 -29 -30
Total Current Liabilities 182 213 242 222 201 285 293 294 241 30 126
Total Liabilities 286 316 356 336 299 354 302 269 177 269 361
Fixed Assets 119 115 146 149 152 158 155 160 156 240 282
Other Non-Current Assets 1 4 5 0 21 8 14 14 12 0 0
Total Current Assets 166 197 205 187 127 188 133 94 10 29 80
Total Assets 286 316 356 336 299 354 302 269 177 269 361

Riga Sugar Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2025 Mar 2026
Opening Cash & Cash Equivalents 3 2 2 1 1 1 0 2 1 0 2
Cash Flow from Operating Activities 20 13 26 7 30 23 34 32 7 2 -30
Cash Flow from Investing Activities -2 -5 -4 -2 -14 -5 -4 -9 -1 0 -47
Cash Flow from Financing Activities -19 -8 -23 -5 -16 -17 -28 -24 -7 0 75
Net Cash Inflow / Outflow -1 -0 -1 0 -0 -0 2 -1 -0 2 -2
Closing Cash & Cash Equivalent 2 2 1 1 1 0 2 1 0 2 0

Riga Sugar Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2025 Mar 2026
Earnings Per Share (Rs) -3.49 -2.78 -9.77 -1.84 -3.28 -14.44 -32.15 -16.69 -32.8 -5.88 -1.25
CEPS(Rs) 3.9 2.77 -6.05 1.44 -0.29 -11.17 -28.75 -13.08 -29.21 -4.86 2.65
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 19.49 16.4 6.62 6.03 -6.21 -21.02 -53.18 -70.27 -103.19 185.24 183.99
Core EBITDA Margin(%) 9.65 9.56 2.84 6.71 6.08 -1.47 -16.65 -4.99 -35.54 -122.89 12.83
EBIT Margin(%) 5.96 6.27 0.87 4.99 5.66 -3.05 -16.57 -5.78 -25.55 -148.53 -5.05
Pre Tax Margin(%) -1.73 -1.63 -7.55 -2.72 -2.12 -20.07 -28.71 -15.01 -47.52 -148.53 -10.06
PAT Margin (%) -1.58 -1.77 -5.45 -1.23 -2.45 -20.11 -28.71 -15.01 -59.21 -148.53 -6.22
Cash Profit Margin (%) 1.77 1.77 -3.37 0.97 -0.21 -15.56 -25.68 -11.76 -52.73 -122.89 13.18
ROA(%) -1.1 -0.98 -3.1 -0.66 -1.49 -6.38 -14.15 -8.44 -21.24 -3.8 -0.57
ROE(%) -16.44 -16.73 -84.9 -31.44 0 0 0 0 0 -14.32 -0.68
ROCE(%) 7.4 6.5 1.08 6.29 7.52 -2.54 -33.34 -27.24 0 -7.82 -0.48
Receivable days 1.3 4.26 6.42 6.66 7.89 25.33 17.31 13.48 14.62 0 0
Inventory Days 264.84 351.24 334.95 324.65 252.64 502.23 330.38 231.3 206.93 1070.99 619.23
Payable days 177.41 271.94 274.55 296.28 211.21 689.57 383.97 451.86 670.19 5408.06 1494.27
PER(x) 0 0 0 0 0 0 0 0 0 0 0
Price/Book(x) 1.41 0.84 1.55 2.14 -3.64 -0.44 -0.11 -0.04 -0.04 0 0
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 0.83 0.97 0.79 0.88 0.99 1.59 0.86 0.79 1.31 2.14 3.13
EV/Core EBITDA(x) 8.33 9.6 26.12 11.82 11.81 98.04 -6.07 -29.63 -6.78 -1.74 21.78
Net Sales Growth(%) 33.4 -17.74 14.25 -3.21 1.03 -47.37 61.7 -1.12 -48.32 -92.78 407.19
EBIT Growth(%) 15.54 -13.46 -84.18 461.08 17.73 -128.9 -748.03 65.33 -120.03 58.48 82.76
PAT Growth(%) 31.58 7.8 -251.53 78.01 -107.12 -340.27 -122.63 48.1 -96.56 82.08 78.76
EPS Growth(%) 31.58 20.36 -251.53 81.19 -78.44 -340.27 -122.63 48.1 -96.56 82.08 78.76
Debt/Equity(x) 7.91 8.26 19.38 19.07 -16.56 -4.61 -1.67 -1.17 -0.66 0 0.29
Current Ratio(x) 0.91 0.93 0.85 0.84 0.63 0.66 0.45 0.32 0.04 0.95 0.63
Quick Ratio(x) 0.11 0.1 0.12 0.15 0.07 0.05 0.05 0.03 0.01 0.07 0.06
Interest Cover(x) 0.78 0.79 0.1 0.65 0.73 -0.18 -1.36 -0.63 -1.16 0 -1.01
Total Debt/Mcap(x) 5.62 9.78 12.49 8.91 4.55 10.47 15.54 28.81 18.18 0 0

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +383% -43% -21% -17%
Operating Profit CAGR — — +15% -15%
PAT CAGR — — — —
Share Price CAGR -30% 0% -7% -15%
ROE Average -1% -5% -3% -15%
ROCE Average 0% -3% -14% -4%

Riga Sugar Shareholding Pattern

Latest · Jun 2026
100% held
Promoters 100 %
FII 0 %
DII (MF + Insurance) 0 %
Public (retail) 0 %
# Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Dec 2025 Mar 2026 Jun 2026
Promoter 68.4768.4768.4768.4768.4768.4768.47100100100
FII 0000000000
DII 0.020.020.020.020.020.020.02000
Public 31.5131.5131.5131.5131.5131.5131.51000
Others 0000000000
Total 100100100100100100100100100100

Riga Sugar Peer Comparison

Riga Sugar Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Riga Sugar Pros & Cons

Pros

  • Stock is trading at -0 times its book value
  • Debtor days have improved from 5408.06 to 1494.27days.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of -5% over the last 3 years.
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