Dewan Sugar Mills Limited (DWSM) financial ratios

Dewan Sugar Mills Limited earned a net margin of -44.1% in FY2025 against a five-year average of -21.0% (Sugar & Allied Industries median 0.6%). The current ratio stood at 0.13× and debt was — of equity. Cash took about -427 days to cycle through receivables, inventory and payables.

FY2025 vs the Sugar & Allied Industries median

Gross margin: -76.7%; Sector median 9.9%
Operating margin: -46.7%; Sector median 6.4%
Net margin: -44.1%; Sector median 0.6%
Return on assets (ROA): -6.8%; Sector median 0.6%
Current ratio: 0.13×; Sector median 0.93×
Asset turnover: 0.15×; Sector median 1.01×

Median of the 28 companies in the sector with the figure for their latest fiscal year.

DWSM financial ratios (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	FY2011 Oct 2010 – Sep 2011	FY2010 Oct 2009 – Sep 2010	FY2009 Oct 2008 – Sep 2009	FY2008 Oct 2007 – Sep 2008	FY2007 Oct 2006 – Sep 2007
Profitability
Gross margin	(76.7%)	(18.3%)	(1.4%)	(1.7%)	(9.0%)	(16.8%)	(0.9%)	(5.6%)	(16.1%)	(23.5%)	(0.6%)	0.1%	3.3%	4.9%	(5.0%)	2.8%	0.8%	0.8%	3.5%
EBITDA margin	(14.8%)	(9.3%)	(6.3%)	(2.4%)	(6.8%)	(13.9%)	(1.4%)	(6.6%)	(14.1%)	(16.6%)	(2.1%)	5.4%	9.4%	6.6%	(4.2%)	6.1%	7.5%	3.5%	7.6%
Operating margin	(46.7%)	(23.9%)	(13.7%)	(9.2%)	(12.8%)	(23.2%)	(8.9%)	(15.5%)	(23.3%)	(27.3%)	(7.8%)	0.5%	3.7%	0.8%	(12.5%)	1.3%	(3.9%)	(2.1%)	(0.1%)
Pre-tax margin	(52.2%)	(27.9%)	(14.5%)	(9.7%)	(13.5%)	(24.1%)	(9.8%)	(17.3%)	(25.9%)	(30.1%)	(10.1%)	(1.8%)	1.3%	(1.7%)	(14.1%)	1.1%	(19.3%)	(13.5%)	(8.2%)
Net margin	(44.1%)	(24.5%)	(13.9%)	(9.0%)	(13.3%)	(23.2%)	(9.6%)	(16.6%)	(25.3%)	(27.1%)	(10.2%)	(2.0%)	1.9%	(1.5%)	(12.7%)	(1.1%)	(9.6%)	(9.9%)	(4.9%)
Effective tax rate	—	—	—	—	—	—	—	—	—	—	—	—	(42.5%)	—	—	199.3%	—	—	—
Returns
Return on equity (ROE)	—	—	—	(5,353.6%)	(678.9%)	(972.9%)	(67.9%)	(156.2%)	(134.2%)	(66.3%)	(47.6%)	(10.6%)	10.4%	(10.8%)	(46.9%)	(4.5%)	(25.8%)	(40.3%)	—
Return on assets (ROA)	(6.8%)	(6.9%)	(10.1%)	(8.8%)	(10.2%)	(13.7%)	(7.9%)	(11.2%)	(12.4%)	(12.7%)	(8.1%)	(1.8%)	1.5%	(1.1%)	(7.4%)	(0.8%)	(3.5%)	(7.7%)	—
Return on invested capital (ROIC)	—	—	—	—	—	—	—	—	—	—	—	—	5.0%	—	—	(1.1%)	—	—	—
Liquidity
Current ratio	0.13×	0.21×	0.31×	0.31×	0.29×	0.32×	0.24×	0.43×	0.57×	0.73×	0.84×	1.11×	1.30×	1.51×	1.64×	0.45×	0.57×	0.58×	0.76×
Quick ratio	0.06×	0.10×	0.11×	0.12×	0.06×	0.12×	0.13×	0.10×	0.15×	0.52×	0.59×	0.69×	0.75×	0.74×	0.98×	0.32×	0.32×	0.36×	0.47×
Leverage
Debt to equity	—	—	—	—	560.3%	—	542.8%	267.2%	—	267.0%	346.2%	352.7%	357.8%	636.7%	750.1%	258.3%	478.3%	373.7%	184.9%
Debt to capital	162.6%	125.2%	165.7%	120.3%	84.9%	112.3%	84.4%	72.8%	102.4%	72.8%	77.6%	77.9%	78.2%	86.4%	88.2%	72.1%	82.7%	78.9%	64.9%
Debt to assets	41.4%	36.5%	38.2%	38.6%	37.4%	47.4%	46.9%	37.5%	46.0%	55.8%	59.4%	60.3%	62.8%	68.7%	72.6%	54.0%	61.3%	53.8%	43.7%
Assets to equity	—	—	—	611.75×	66.50×	71.20×	8.59×	13.98×	10.79×	5.23×	5.84×	5.77×	6.99×	9.75×	6.31×	5.92×	7.33×	5.24×	—
Efficiency
Asset turnover	0.15×	0.28×	0.72×	0.98×	0.77×	0.59×	0.82×	0.67×	0.49×	0.47×	0.80×	0.94×	0.78×	0.76×	0.59×	0.68×	0.37×	0.78×	—
Receivable days days	155	112	47	24	33	59	29	43	91	143	108	90	102	106	132	114	231	112	—
Inventory days days	107	158	90	62	77	71	69	139	141	67	64	67	101	103	73	75	173	80	—
Payable days days	687	600	274	167	193	204	139	208	216	119	86	67	80	65	45	56	160	95	—
Cash conversion cycle days	(427)	(331)	(138)	(82)	(83)	(75)	(40)	(26)	15	90	86	91	122	144	159	133	245	97	—
Dividends
Dividend payout ratio	—	—	—	—	—	—	—	—	—	—	—	—	0.0%	—	—	—	—	—	—
Earnings retention rate	—	—	—	—	—	—	—	—	—	—	—	—	1.00×	—	—	—	—	—	—

Ratios as reported for each fiscal year; returns are on average equity / assets. Debt ratios are percentages; turnover in times; working-capital measures in days.

DWSM: frequently asked questions

What is DWSM's EPS?

Dewan Sugar Mills Limited reported basic earnings per share of Rs -6.25 for FY2025 (Oct 2024 – Sep 2025). Over the trailing twelve months (TTM to Jun 2026) EPS was Rs -5.90.

Does DWSM pay dividends?

Dewan Sugar Mills Limited did not declare a cash dividend for FY2025.

What was DWSM's revenue and profit in FY2025?

Dewan Sugar Mills Limited reported revenue of Rs 1.3 bn and profit attributable to shareholders of -Rs 572.4 mn for FY2025 (Oct 2024 – Sep 2025).

What is DWSM's book value per share?

Dewan Sugar Mills Limited's book value per share was Rs -13.81 at the end of FY2025.

Information only, not investment advice.