Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹1,371Cr
Rev Gr TTM
Revenue Growth TTM
19.28%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

ANDHRSUGAR
VS
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | -5.1 | -25.4 | -15.1 | -19.3 | -19.6 | -2.4 | 2.0 | 13.3 | 15.5 | 24.9 | 13.1 | 23.6 |
| 486 | 452 | 490 | 436 | 403 | 469 | 507 | 489 | 449 | 546 | 542 | 580 |
Operating Profit Operating ProfitCr |
| 9.9 | 8.2 | 5.4 | 3.3 | 7.0 | 2.3 | 4.1 | 4.2 | 10.3 | 9.1 | 9.2 | 8.1 |
Other Income Other IncomeCr | 8 | 8 | 16 | 12 | 19 | 27 | 5 | 0 | -18 | 1 | 11 | 1 |
Interest Expense Interest ExpenseCr | 1 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
Depreciation DepreciationCr | 17 | 18 | 19 | 19 | 20 | 19 | 20 | 21 | 21 | 20 | 21 | 21 |
| 44 | 29 | 25 | 7 | 29 | 19 | 7 | 0 | 12 | 34 | 44 | 31 |
| 10 | 8 | 5 | -1 | 3 | 3 | 2 | 1 | 5 | 10 | 11 | 9 |
|
Growth YoY PAT Growth YoY% | -57.8 | -71.6 | -51.2 | -78.6 | -22.6 | -27.3 | -74.3 | -104.8 | -76.3 | 55.7 | 567.2 | 5,736.6 |
| 6.3 | 4.4 | 3.8 | 1.9 | 6.0 | 3.3 | 0.9 | -0.1 | 1.2 | 4.1 | 5.6 | 3.7 |
| 2.4 | 1.6 | 1.4 | 0.7 | 1.9 | 1.1 | 0.3 | 0.1 | 0.4 | 1.7 | 2.4 | 1.6 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| 0.8 | 13.6 | 1.6 | 2.3 | 5.3 | 7.3 | 2.1 | 30.0 | 20.7 | -20.0 | 6.6 | 15.3 |
| 1,028 | 1,101 | 1,059 | 1,096 | 1,074 | 1,199 | 1,294 | 1,701 | 2,069 | 1,781 | 1,914 | 2,117 |
Operating Profit Operating ProfitCr |
| 7.2 | 12.5 | 17.2 | 16.1 | 22.0 | 18.8 | 14.3 | 13.3 | 12.6 | 6.0 | 5.2 | 9.1 |
Other Income Other IncomeCr | -2 | 20 | 24 | 44 | 62 | 44 | 43 | 116 | 25 | 54 | 14 | -6 |
Interest Expense Interest ExpenseCr | 23 | 29 | 26 | 32 | 30 | 28 | 27 | 13 | 4 | 1 | 2 | 3 |
Depreciation DepreciationCr | 42 | 56 | 51 | 55 | 55 | 62 | 61 | 64 | 67 | 76 | 81 | 82 |
| 12 | 93 | 167 | 168 | 278 | 231 | 170 | 300 | 253 | 90 | 38 | 121 |
| 11 | 36 | 42 | 49 | 86 | 20 | 29 | 54 | 62 | 14 | 11 | 35 |
|
| -98.3 | 5,783.5 | 122.0 | -5.0 | 61.9 | 9.7 | -32.9 | 73.8 | -22.4 | -60.1 | -65.0 | 228.9 |
| 0.1 | 4.5 | 9.8 | 9.1 | 13.9 | 14.3 | 9.4 | 12.5 | 8.1 | 4.0 | 1.3 | 3.8 |
| -0.4 | 3.5 | 9.0 | 8.6 | 14.1 | 15.0 | 10.0 | 17.9 | 13.7 | 5.5 | 1.9 | 6.2 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 |
| 622 | 756 | 906 | 960 | 1,104 | 1,126 | 1,270 | 1,491 | 1,514 | 1,556 | 1,565 | 1,610 |
Current Liabilities Current LiabilitiesCr | 427 | 238 | 296 | 236 | 270 | 267 | 268 | 227 | 202 | 210 | 216 | 196 |
Non Current Liabilities Non Current LiabilitiesCr | 304 | 322 | 412 | 332 | 380 | 303 | 222 | 199 | 196 | 184 | 204 | 206 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 751 | 575 | 694 | 616 | 827 | 872 | 875 | 913 | 871 | 832 | 867 | 912 |
Non Current Assets Non Current AssetsCr | 698 | 841 | 1,022 | 1,016 | 1,033 | 936 | 1,004 | 1,126 | 1,163 | 1,243 | 1,240 | 1,224 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 29 | 178 | 245 | 202 | 114 | 181 | 253 | 175 | 286 | 142 | 128 |
Investing Cash Flow Investing Cash FlowCr | -44 | -71 | -259 | -17 | -133 | -15 | -141 | -26 | -204 | -102 | -93 |
Financing Cash Flow Financing Cash FlowCr | 16 | -113 | 24 | -175 | 23 | -167 | -132 | -149 | -91 | -23 | -34 |
|
Free Cash Flow Free Cash FlowCr | -15 | 97 | 86 | 93 | 49 | 140 | 162 | 83 | 69 | 8 | 32 |
| 3,052.7 | 316.7 | 196.7 | 170.7 | 59.1 | 86.1 | 178.7 | 71.4 | 150.0 | 186.4 | 481.0 |
CFO To EBITDA CFO To EBITDA% | 36.7 | 112.8 | 111.5 | 95.9 | 37.5 | 65.1 | 117.1 | 67.1 | 95.7 | 125.3 | 120.7 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 250 | 373 | 839 | 1,109 | 950 | 484 | 789 | 2,077 | 1,467 | 1,256 | 906 |
Price To Earnings Price To Earnings | 0.0 | 7.8 | 6.9 | 9.5 | 5.0 | 2.4 | 5.8 | 8.6 | 7.9 | 16.7 | 35.0 |
Price To Sales Price To Sales | 0.2 | 0.3 | 0.7 | 0.8 | 0.7 | 0.3 | 0.5 | 1.1 | 0.6 | 0.7 | 0.5 |
Price To Book Price To Book | 0.4 | 0.5 | 0.9 | 1.1 | 0.8 | 0.4 | 0.6 | 1.4 | 0.9 | 0.8 | 0.6 |
| 6.5 | 3.6 | 5.0 | 5.9 | 3.7 | 2.2 | 4.3 | 8.0 | 4.8 | 10.9 | 8.1 |
Profitability Ratios Profitability Ratios |
| 49.2 | 50.6 | 55.6 | 54.7 | 59.8 | 56.3 | 50.6 | 49.2 | 48.9 | 48.1 | 26.4 |
| 7.2 | 12.5 | 17.2 | 16.1 | 22.0 | 18.8 | 14.3 | 13.3 | 12.6 | 6.0 | 5.2 |
| 0.1 | 4.5 | 9.8 | 9.1 | 13.9 | 14.3 | 9.4 | 12.5 | 8.1 | 4.0 | 1.3 |
| 3.7 | 12.1 | 15.7 | 17.1 | 22.5 | 19.4 | 13.5 | 19.9 | 16.4 | 5.7 | 2.5 |
| 0.1 | 7.2 | 13.4 | 12.0 | 17.0 | 18.3 | 10.9 | 16.2 | 12.4 | 4.8 | 1.7 |
| 0.1 | 4.0 | 7.3 | 7.3 | 10.3 | 11.7 | 7.5 | 12.0 | 9.4 | 3.7 | 1.3 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
Andhra Sugars Limited (ASL) is a diversified Indian industrial conglomerate with integrated operations in **sugar, chemicals, pharmaceuticals, and petrochemicals**. Headed by Joint Managing Director Mullapudi Narendranath since 1998, the company has strategically evolved from its traditional sugar business into high-value chemical and pharmaceutical manufacturing, leveraging vertical integration, technological innovation, and regulatory compliance to strengthen both domestic and international market presence.
---
### **Core Business Segments & Key Developments (as of Sep 2025)**
#### **1. Pharmaceuticals & Active Pharmaceutical Ingredients (APIs)**
- **Key Products**:
- Aspirin Crystals and Aspirin Starch Granules
- Various grades of **Salicylic Acid** and **Sodium Salicylate**
- Commissioned a new **2,640 TPA Salicylic Acid plant** in March 2024, enhancing backward integration for aspirin production.
- **Regulatory & Market Positioning**:
- The company’s Aspirin Plant is compliant with **international cGMP standards**, with active regulatory approvals from **USFDA, EDQM (Europe), and TGA (Australia)**.
- Holds critical regulatory filings: **US DMF, EU DMF/CEP, WHO GMP, and Written Confirmation**, enabling customers to register products in regulated markets.
- **Export & Customer Strategy**:
- Set to **restart supply to Haleon (formerly GSK Consumer Health/Novartis)** in the U.S. by **end of 2025**, targeting **900 metric tons annually** of aspirin intermediates.
- Aiming to secure additional **U.S.-based generic FDF manufacturers**, with potential to drive **~1,500 MT/year** in aspirin exports.
- Actively capitalizing on **"China+1" global trends** and anti-Chinese sentiment to gain traction in Western markets.
- **Domestic Business Resilience**:
- Indigenous sales have consistently offset weaker export volumes during periods of market consolidation (e.g., GSK brand consolidation).
- Growing interest and validation from Indian pharmaceutical players for salicylates and aspirin granules.
---
#### **2. Chemicals Division – Saggonda Chemical Complex**
- **Caustic Soda**:
- Capacity expanded from **500 to 600 TPD** in March 2023 using **6th-generation energy-efficient membrane technology** (supplied by Thyssenkrupp).
- Operates a **33 MW coal-based captive power plant**, ensuring stable energy supply.
- Environmental consent (CFE) secured for up to **800 TPD capacity**, indicating future expansion readiness.
- Faced headwinds in FY2023–24 due to **oversupply, increased imports, and weak demand from paper and textile sectors**.
- **Sulphuric Acid**:
- Commissioned a **500 TPD Sulphuric Acid plant in April 2024** at Saggonda, increasing total capacity to **800 TPD**.
- Project cost: **₹120 crores**, fully funded through **internal accruals**.
- Supports internal consumption and external sales across agrochemicals, pharmaceuticals, and industrial sectors.
- **Integrated Operations**:
- Chlor-alkali complex produces **chlorine, caustic soda, and hydrochloric acid**, ensuring optimal by-product utilization.
- A **600 TPD Hydrochloric Acid plant** helps manage surplus chlorine, improving operational efficiency.
---
#### **3. Expansion Projects at J.N. Pharmacity, Parawada (Visakhapatnam)**
- **100 TPD Sodium Hypochlorite Plant**:
- Under development in the non-SEZ area of J.N. Pharmacity.
- Estimated project cost: **₹18 crore**; statutory approvals secured.
- Raw materials (**chlorine & caustic soda**) to be sourced internally from Saggonda, enabling cost-efficient **vertical integration**.
- Target applications: **pharmaceuticals, water treatment, seafood, and fine chemicals**.
- **Future Chlor-Alkali Expansion**:
- Company plans phased development of a **42.28-acre site** at Parawada.
- **Consent for Establishment (CFE)** obtained from **APPCB** for a future chlor-alkali complex with proposed capacities:
- 245 TPD Caustic Soda
- 50 TPD Caustic Potash
- 600 TPD Hydrochloric Acid
- 300 TPD Sulphuric Acid
- 200 TPD Chlorine
---
#### **4. Sugar & Agricultural Innovation**
- Operates **three sugar units** at **Tanuku, Taduvai, and Bhimadole**.
- **Byproduct Utilization**:
- Molasses used to produce **industrial alcohol** and allied products.
- Bagasse used in **co-generation**, supported by bagasse dryers and efficient boilers.
- **Mechanical Harvesting Initiative**:
- Developed and deployed an **indigenously designed, compact sugarcane harvester** tailored for small Indian farms (secured Indian patent).
- Addresses labor shortages due to industrial migration.
- **Reduced harvesting costs** and boosted mechanization from hundreds to **thousands of acres**.
- **Agricultural R&D**:
- Runs a **sugarcane breeding facility** with high-yield varieties in field trials, ensuring long-term input security.
---
#### **5. Subsidiaries & Diversification**
- **JOCIL Limited** (Dokiparru, Guntur):
- Produces **fatty acids, glycerine, stearic acid, and toilet soaps** from **non-edible oils**.
- **The Andhra Farm Chemicals Corporation Ltd.** (Kovvur):
- Formerly India’s **largest hydrazine hydrate manufacturer**, based on licensed RRL Hyderabad tech, later improved in-house.
- **The Andhra Petrochemicals Ltd.** (Visakhapatnam):
- Operates **India’s only Oxo-Alcohols plant** using **Davy McKee (London) technology**.
- Products: **2-Ethyl Hexanol, n-Butanol, i-Butanol** – used in plasticizers and polymers.
- **Hindustan Allied Chemicals Ltd.**:
- Part of the group’s diversified chemical portfolio.
---
#### **6. Energy & Sustainability**
- Meets high power demands via **captive generation**:
- **Coal-based**: 33 MW
- **Solar & Wind**: Renewable energy initiatives support sustainability goals.
- Adoption of **energy-efficient, eco-friendly 6th-gen membrane tech** in caustic soda production reduces carbon footprint and energy costs.