Dhampur Sugar Mills Q3 FY26 Holds Steady: ₹667 Cr Revenue, ₹26.5 Cr Profit Amid Seasonal Pressures

Dhampur Sugar Mills Ltd, a leading integrated sugar player in UP, announced Q3 FY26 results on Feb 2, 2026, with consolidated revenue of ₹667 Cr and PAT ₹26.5 Cr. Off-season dynamics tempered growth, yet diversified portfolio buffered volatility.

Sugar remained anchor amid 20+ mills crushing capacity. Co-products like ethanol (EBP program) and power added resilience. Q1 FY26 saw ₹529 Cr revenue, ₹0.91 Cr PAT (down YoY); Q2 losses ₹7.88 Cr on ₹504 Cr sales reflect seasonal troughs.

FY25 delivered ₹51.7 Cr PAT on ₹1,974 Cr revenue despite 10.9% 5-year sales CAGR dip. Promoter holding 49.8%; no dividends amid capex. Recent Bio Organics subsidiary Q3 profit ₹16.9 Cr vs loss.
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Management eyes 20% ethanol blending, distillery upgrades for FY27. Shares ~₹115 (mcap ₹887 Cr) track sugar cycle, ethanol policy.

Diversification positions Dhampur for green energy shift.

Key Highlights

• Revenue: ₹6.67 Bn consolidated from operations.
• Net Profit: ₹264.9 Mn.
• Sugar Division: Core crushing, power cogeneration contributions.
• Co-products: Ethanol, chemicals supported mix.
• Margin Profile: EBITDA steady; Q1 FY26 ₹30.9 Cr EBITDA on ₹529 Cr sales.
• FY25 Context: ₹197 Cr PAT on ₹1,974 Cr revenue.
• Outlook: Ethanol blending targets, distillery expansions.

Sources: Company IR, Screener.in, Kotak Securities