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Andhra Sugars Ltd

ANDHRSUGAR
NSE
101.17
3.16%
Last Updated:
29 Apr '26, 4:00 PM
Company Overview
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Andhra Sugars Ltd

ANDHRSUGAR
NSE
101.17
3.16%
29 Apr '26, 4:00 PM
Company Overview
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6M
Price
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Quick Ratios

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Mkt Cap
Market Capitalization
1,371Cr
Close
Close Price
101.17
Industry
Industry
Sugar
PE
Price To Earnings
16.27
PS
Price To Sales
0.59
Revenue
Revenue
2,329Cr
Rev Gr TTM
Revenue Growth TTM
19.28%
PAT Gr TTM
PAT Growth TTM
88.00%
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Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue
RevenueCr
539492518451433480528511500600597631
Growth YoY
Revenue Growth YoY%
-5.1-25.4-15.1-19.3-19.6-2.42.013.315.524.913.123.6
Expenses
ExpensesCr
486452490436403469507489449546542580
Operating Profit
Operating ProfitCr
534028153011222152545551
OPM
OPM%
9.98.25.43.37.02.34.14.210.39.19.28.1
Other Income
Other IncomeCr
881612192750-181111
Interest Expense
Interest ExpenseCr
100100001111
Depreciation
DepreciationCr
171819192019202121202121
PBT
PBTCr
442925729197012344431
Tax
TaxCr
1085-13321510119
PAT
PATCr
34222092616506253423
Growth YoY
PAT Growth YoY%
-57.8-71.6-51.2-78.6-22.6-27.3-74.3-104.8-76.355.7567.25,736.6
NPM
NPM%
6.34.43.81.96.03.30.9-0.11.24.15.63.7
EPS
EPS
2.41.61.40.71.91.10.30.10.41.72.41.6

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue
RevenueCr
1,1071,2581,2791,3081,3761,4771,5091,9622,3681,8942,0202,329
Growth
Revenue Growth%
0.813.61.62.35.37.32.130.020.7-20.06.615.3
Expenses
ExpensesCr
1,0281,1011,0591,0961,0741,1991,2941,7012,0691,7811,9142,117
Operating Profit
Operating ProfitCr
80158220211303278216261299113106212
OPM
OPM%
7.212.517.216.122.018.814.313.312.66.05.29.1
Other Income
Other IncomeCr
-2202444624443116255414-6
Interest Expense
Interest ExpenseCr
23292632302827134123
Depreciation
DepreciationCr
425651555562616467768182
PBT
PBTCr
12931671682782311703002539038121
Tax
TaxCr
113642498620295462141135
PAT
PATCr
156125119192211141246191762787
Growth
PAT Growth%
-98.35,783.5122.0-5.061.99.7-32.973.8-22.4-60.1-65.0228.9
NPM
NPM%
0.14.59.89.113.914.39.412.58.14.01.33.8
EPS
EPS
-0.43.59.08.614.115.010.017.913.75.51.96.2

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
Equity CapitalCr
272727272727272727272727
Reserves
ReservesCr
6227569069601,1041,1261,2701,4911,5141,5561,5651,610
Current Liabilities
Current LiabilitiesCr
427238296236270267268227202210216196
Non Current Liabilities
Non Current LiabilitiesCr
304322412332380303222199196184204206
Total Liabilities
Total LiabilitiesCr
1,4491,4151,7161,6321,8591,8081,8792,0392,0352,0752,1082,135
Current Assets
Current AssetsCr
751575694616827872875913871832867912
Non Current Assets
Non Current AssetsCr
6988411,0221,0161,0339361,0041,1261,1631,2431,2401,224
Total Assets
Total AssetsCr
1,4491,4151,7161,6321,8591,8081,8792,0392,0352,0752,1082,135

Cash Flow

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating Cash Flow
Operating Cash FlowCr
29178245202114181253175286142128
Investing Cash Flow
Investing Cash FlowCr
-44-71-259-17-133-15-141-26-204-102-93
Financing Cash Flow
Financing Cash FlowCr
16-11324-17523-167-132-149-91-23-34
Net Cash Flow
Net Cash FlowCr
2-610114-1-210-10170
Free Cash Flow
Free Cash FlowCr
-15978693491401628369832
CFO To PAT
CFO To PAT%
3,052.7316.7196.7170.759.186.1178.771.4150.0186.4481.0
CFO To EBITDA
CFO To EBITDA%
36.7112.8111.595.937.565.1117.167.195.7125.3120.7

Ratios

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
2503738391,1099504847892,0771,4671,256906
Price To Earnings
Price To Earnings
0.07.86.99.55.02.45.88.67.916.735.0
Price To Sales
Price To Sales
0.20.30.70.80.70.30.51.10.60.70.5
Price To Book
Price To Book
0.40.50.91.10.80.40.61.40.90.80.6
EV To EBITDA
EV To EBITDA
6.53.65.05.93.72.24.38.04.810.98.1
Profitability Ratios
Profitability Ratios
GPM
GPM%
49.250.655.654.759.856.350.649.248.948.126.4
OPM
OPM%
7.212.517.216.122.018.814.313.312.66.05.2
NPM
NPM%
0.14.59.89.113.914.39.412.58.14.01.3
ROCE
ROCE%
3.712.115.717.122.519.413.519.916.45.72.5
ROE
ROE%
0.17.213.412.017.018.310.916.212.44.81.7
ROA
ROA%
0.14.07.37.310.311.77.512.09.43.71.3
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.