Dwarikesh Sugar Industries cash flow

Latest FY26

Cash from operations: ₹129cr+112.8% on FY25
Capital spending: ₹7.0cr−43.3% on FY25
Free cash flow: ₹122cr+153.0% on FY25
Cash from financing: −₹194cr₹27.3 cr in FY25

₹ crore except per share

Tap a line for its trend	Last 12Mto Sep 2026	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus

Changes in working capital
Adjustments to reconcile profit — non-cash items						FY22 and earlierEvery year the company has filed comes with Alpha Plus.
	—	36.7	48.9	52.5	50.2
	—	0.0	1.6	0.4	0.0
	—	14.8	18.5	20.1	25.8
	—	−5.3	−4.6	−9.7	0.0
	—	−0.0	−0.0	0.0	0.0
	—	0.0	0.0	−0.0	0.0
	—	0.0	−0.0	0.0	−10.7
	—	0.4	0.0	0.0	0.0
	—	0.0	0.2	0.0	0.0
	—	62.0	−9.8	−180	197
	—	8.2	−26.4	35.5	−33.4
	—	−0.0	−0.1	−0.6	0.0
	—	0.2	0.0	0.1	0.0
	—	−0.6	0.0	0.0	0.0
	—	0.1	−0.9	−1.1	0.0
	—	−21.5	−11.4	−11.9	−38.2
	—	−0.9	0.0	0.0	0.0
	—	0.1	0.0	0.0	0.0
	—	−0.9	−2.8	−10.6	0.0
	—	0.0	5.1	−2.4	0.0
	—	2.8	2.0	2.4	0.0
	—	−0.2	0.0	0.0	0.0
Cash from operating activities
	56.6	42.5	52.5	144	153
	—	95.8	20.4	−105	191
	—	138	72.9	38.5	343
	—	0.0	0.0	−0.0	0.0
	—	9.2	12.2	25.1	29.4
	—	129	60.7	13.4	314
Cash from investing activities
	—	7.0	12.4	50.8	98.7
	—	0.1	0.1	0.2	0.8
	—	0.0	0.0	0.2	0.0
	—	0.0	0.0	0.0	0.0
	—	5.1	4.6	9.7	8.7
	—	−1.9	1.1	0.4	−2.4
	—	−3.7	−6.5	−40.7	−91.5
Cash from financing activities
	—	0.0	7.8	31.7	0.0
	—	0.0	120	148	81.4
	—	170	67.2	68.8	233
	—	1.6	0.0	1.7	1.8
	—	13.9	15.9	18.4	31.1
	—	9.3	0.0	0.0	37.7
	—	0.0	−1.6	0.0	0.0
	—	−194	27.3	27.2	−222
	—	−68.9	81.5	−0.1	0.4
	—	−68.9	81.5	−0.1	0.4
	—	—	—	0.6	0.7
Reference items
	83.9	86.9	113	205	215
	6.1%	6.2%	8.4%	12.0%	10.2%
	122	122	48.3	−37.4	215
	—	−61.3	85.1	23.9	—
	₹6.59	₹6.59	₹2.60	−₹2.02	₹11.61
	6.52×	—	—	—	—
	—	4.19×	2.60×	0.16×	2.99×
	—	9.2	12.2	25.1	29.4
	—	13.9	15.9	18.4	31.1

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From the company's filings with NSE and BSE (Ind-AS), standalone. For information only, not investment advice.

alphave

DWARKESH₹42.95

Dwarikesh Sugar Industries Limited

· FMCG & Retail

₹ CrorePeersDBOL MAGADSUGAR ZUARIIND DHAMPURSUG UTTAMSUGAR UGARSUGAR MAWANASUG AVADHSUGARMcap ₹796 Cr

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In ₹ Crore except Per Share 12 Months Ending	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Last 12M 30/09/2026
Adjustments to Reconcile Profit — Non-cash Items
+ Depreciation & Amortisation	50.2	52.5	48.9	36.7	—
+ Impairment Loss / (Reversal)	0.0	0.4	1.6	0.0	—
+ Finance Costs	25.8	20.1	18.5	14.8	—
+ Interest Income	0.0	-9.7	-4.6	-5.3	—
+ Dividend Income	0.0	0.0	-0.0	-0.0	—
+ Fair Value (Gains) / Losses	0.0	-0.0	0.0	0.0	—
+ Other Non-cash Items	-10.7	0.0	-0.0	0.0	—
+ Other — Cash Effects are Investing / Financing	0.0	0.0	0.0	0.4	—
+ Other Reconciling Items	0.0	0.0	0.2	0.0	—
Changes in Working Capital
+ Inventories	197.0	-180.2	-9.8	62.0	—
+ Trade Receivables — Current	-33.4	35.5	-26.4	8.2	—
+ Other Financial Assets — Current	0.0	-0.6	-0.1	-0.0	—
+ Other Financial Assets — Non-current	0.0	0.1	0.0	0.2	—
+ Other Current Assets	0.0	0.0	0.0	-0.6	—
+ Other Non-current Assets	0.0	-1.1	-0.9	0.1	—
+ Trade Payables — Current	-38.2	-11.9	-11.4	-21.5	—
+ Other Financial Liabilities — Current	0.0	0.0	0.0	-0.9	—
+ Other Financial Liabilities — Non-current	0.0	0.0	0.0	0.1	—
+ Other Current Liabilities	0.0	-10.6	-2.8	-0.9	—
+ Other Non-current Liabilities	0.0	-2.4	5.1	0.0	—
+ Provisions — Current	0.0	2.4	2.0	2.8	—
+ Provisions — Non-current	0.0	0.0	0.0	-0.2	—
Cash from Operating Activities
Profit Before Tax (per I/S)	152.5	144.0	52.5	42.5	56.6
+ Total Adjustments (incl. Working Capital)	190.8	-105.5	20.4	95.8	—
Cash from Operations (pre-tax)	343.3	38.5	72.9	138.4	—
+ Dividends Received — Operating	0.0	-0.0	0.0	0.0	—
+ Income Taxes Paid	29.4	25.1	12.2	9.2	—
Cash from Operating Activities	313.9	13.4	60.7	129.1	—
Cash from Investing Activities
+ Acq of Fixed Assets (Capex)	98.7	50.8	12.4	7.0	—
+ Disp of Fixed Assets	0.8	0.2	0.1	0.1	—
+ Acq of Investment Property	0.0	0.2	0.0	0.0	—
+ Dividends Received — Investing	0.0	0.0	0.0	0.0	—
+ Interest Received — Investing	8.7	9.7	4.6	5.1	—
+ Other Inflows / (Outflows) — Investing	-2.4	0.4	1.1	-1.9	—
Cash from Investing Activities	-91.5	-40.7	-6.5	-3.7	—
Cash from Financing Activities
+ Buyback / Redemption of Own Shares	0.0	31.7	7.8	0.0	—
+ Proceeds from Borrowings	81.4	147.9	119.8	0.0	—
+ Repayment of Borrowings	232.7	68.8	67.2	169.6	—
+ Payment of Lease Liabilities	1.8	1.7	0.0	1.6	—
+ Interest Paid	31.1	18.4	15.9	13.9	—
+ Dividends Paid	37.7	0.0	0.0	9.3	—
+ Other Inflows / (Outflows) — Financing	0.0	0.0	-1.6	0.0	—
Cash from Financing Activities	-221.9	27.2	27.3	-194.4	—
Net Changes in Cash (pre-FX)	0.4	-0.1	81.5	-68.9	—
Net Changes in Cash	0.4	-0.1	81.5	-68.9	—
Closing Cash	0.7	0.6	—	—	—
Reference Items
EBITDA	214.5	204.9	113.5	86.9	83.9
EBITDA Margin %	10.20	11.99	8.35	6.20	6.15
Free Cash Flow (CFO − Capex)	215.2	-37.4	48.3	122.1	122.1
Free Cash Flow to Equity	—	23.9	85.1	-61.3	—
Free Cash Flow per Basic Share	11.61	-2.02	2.60	6.59	6.59
Price to Free Cash Flow	—	—	—	—	6.52
Cash Flow to Net Income	2.99	0.16	2.60	4.19	—
Cash Paid for Taxes	29.4	25.1	12.2	9.2	—
Cash Paid for Interest	31.1	18.4	15.9	13.9	—

As filed, sign as filed: a payment tagged as a positive magnitude in the filing stays positive here, so read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown — depth follows the filer, so a thin statement means a thin filing. Total Adjustments is the filer's own grand total of the reconciliation and spans BOTH the non-cash items and the working-capital block; Profit Before Tax plus it equals Cash from Operations (pre-tax). It can be reported when its components are not, so it is never a sum of the rows above it. No consensus estimates → no Est columns. Click any row to chart it.

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Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.