Valuation · at the close on 16 Oct 2026

Adam Sugar Mills Limited (ADAMS) valuation

ADAMS has no positive earnings to compare its share price with, so P/E is not meaningful. The shares are priced at 0.19× book value (sector median 0.80×). Enterprise value of Rs 2.6 bn is 4.3× EBITDA. The dividend yield is 6.0%, against a five-year average of 7.4%.

P/E · today

—

TTM to Jun 2026

5-yr average10.1× Sector median11.5×

P/B · today

0.19×

Quarter to Jun 2026

5-yr average0.15× Sector median0.80×

EV/EBITDA · today

4.3×

5-yr average3.0× Sector median4.7×

Dividend yield · today

6.0%

FY2025

5-yr average7.4% Payers' median5.0%

Market value Rs 1.2 bn at Rs 67.20. Sector medians use the latest close of 28 Sugar & Allied Industries companies; P/E and P/B only where earnings / book value are positive; the yield median covers dividend payers only. Not investment advice.

Valuation history

At each fiscal year-end price.

5 10 All

ADAMS valuation history (annual) (Rs mn)

Rs mn	FY2025 Oct 2024 – Sep 2025	FY2024 Oct 2023 – Sep 2024	FY2023 Oct 2022 – Sep 2023	FY2022 Oct 2021 – Sep 2022	FY2021 Oct 2020 – Sep 2021	FY2020 Oct 2019 – Sep 2020	FY2019 Oct 2018 – Sep 2019	FY2018 Oct 2017 – Sep 2018	FY2017 Oct 2016 – Sep 2017	FY2016 Oct 2015 – Sep 2016	FY2015 Oct 2014 – Sep 2015	FY2014 Oct 2013 – Sep 2014	FY2013 Oct 2012 – Sep 2013	FY2012 Oct 2011 – Sep 2012
Market capitalisation	1,218.5	727.8	587.9	428.0	563.7	419.3	293.1	517.0	669.9	627.0	407.6	371.8	231.5	128.2
Enterprise value	2,642.4	3,703.6	1,621.7	1,543.4	1,411.5	1,087.0	1,697.1	2,105.3	2,299.4	1,225.7	1,351.0	1,923.9	1,843.0	1,017.9
Share price (period end) Rs	70.47	42.09	34.00	24.75	32.60	24.25	16.95	29.90	38.74	36.26	23.57	21.50	21.79	12.07
P/E (diluted)	26.39×	13.42×	5.00×	2.70×	2.88×	1.32×	—	—	—	5.04×	—	8.15×	2.97×	3.00×
Price to book	0.24×	0.14×	0.11×	0.11×	0.15×	0.12×	0.09×	0.46×	0.58×	0.51×	0.37×	0.32×	0.34×	0.21×
Price to sales	0.11×	0.09×	0.11×	0.08×	0.20×	0.12×	0.13×	0.14×	0.36×	0.19×	0.17×	0.08×	0.12×	0.08×
EV / EBITDA	3.61×	3.73×	2.34×	2.03×	2.74×	1.28×	75.04×	69.56×	43.27×	3.99×	—	10.94×	6.03×	6.27×
EV / Sales	0.24×	0.46×	0.30×	0.28×	0.49×	0.31×	0.73×	0.56×	1.24×	0.38×	0.55×	0.61×	0.89×	0.66×
Dividend yield (gross)	2.1%	8.3%	11.8%	8.1%	12.3%	0.0%	0.0%	0.0%	9.0%	0.0%	0.0%	0.0%	3.4%	6.1%
Free cash flow yield	129.8%	(257.4%)	12.2%	(36.4%)	(20.1%)	172.1%	62.3%	8.3%	(145.3%)	55.1%	139.8%	(92.4%)	(401.1%)	(500.2%)
PEG ratio	(1.77×)	(0.25×)	(0.19×)	(0.14×)	(0.07×)	0.01×	—	—	—	0.02×	—	(0.13×)	0.04×	—
P/E (diluted, normalised)	26.39×	13.42×	5.00×	2.70×	2.88×	1.32×	—	—	—	5.04×	—	8.15×	2.97×	3.00×
Price to book — 5-year average	0.15×	0.12×	0.11×	0.14×	0.19×	0.24×	0.32×	0.45×	0.43×	0.36×	—	—	—	—
EV / EBITDA — 5-year average	2.95×	2.45×	2.59×	3.60×	5.84×	6.65×	30.74×	20.45×	12.16×	8.98×	—	—	—	—
Dividend yield — 5-year average	7.4%	8.6%	7.5%	4.7%	5.3%	2.4%	2.4%	2.3%	3.0%	1.3%	—	—	—	—

ADAMS valuation: frequently asked questions

What is ADAMS's book value per share? +

Adam Sugar Mills Limited's book value per share was Rs 294.81 at the end of FY2025. The shares trade at 0.19× book value.

Information only, not investment advice.