Mehran Sugar Mills Limited (MRNS) financial ratios

Mehran Sugar Mills Limited earned a net margin of 16.0% in FY2025 against a five-year average of 5.2% (Sugar & Allied Industries median 0.6%). Return on equity was 57.6%, compared with a sector median of 2.0%. The current ratio stood at 2.30× and debt was 18.0% of equity. Cash took about 51 days to cycle through receivables, inventory and payables.

FY2025 vs the Sugar & Allied Industries median

Gross margin: 14.8%; Sector median 9.9%
Operating margin: 11.7%; Sector median 6.4%
Net margin: 16.0%; Sector median 0.6%
Return on equity (ROE): 57.6%; Sector median 2.0%
Return on assets (ROA): 28.6%; Sector median 0.6%
Current ratio: 2.30×; Sector median 0.93×
Debt to equity: 18.0%; Sector median 60.7%
Asset turnover: 1.78×; Sector median 1.01×
Dividend payout ratio: 8.6%; Sector median 0.0%

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

MRNS 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	14.8%	8.1%	21.5%	11.7%	10.5%	7.2%	15.4%	12.3%	4.9%	10.4%	15.6%	9.7%	10.0%	9.1%	13.3%	12.4%	16.5%	9.2%	(0.8%)
EBITDA margin	13.3%	6.1%	17.7%	9.3%	7.6%	6.4%	12.7%	8.0%	2.5%	9.6%	13.9%	8.0%	8.5%	8.9%	13.1%	11.4%	12.4%	8.0%	(1.0%)
Operating margin	11.7%	4.2%	15.9%	6.6%	4.2%	3.7%	9.5%	4.5%	(0.3%)	7.7%	11.0%	6.1%	6.6%	6.6%	11.4%	10.2%	10.9%	5.3%	(3.7%)
Pre-tax margin	19.0%	(7.7%)	20.8%	5.7%	0.4%	2.5%	9.6%	8.8%	3.6%	9.4%	12.5%	5.0%	7.4%	8.5%	9.6%	8.4%	10.3%	4.7%	(8.6%)
Net margin	16.0%	(7.3%)	13.1%	4.2%	(0.2%)	0.7%	7.6%	8.5%	2.4%	7.6%	9.9%	4.1%	6.9%	6.6%	7.4%	6.3%	7.4%	4.5%	(6.7%)
Effective tax rate	15.6%	—	36.7%	26.5%	156.8%	71.2%	21.2%	4.0%	34.0%	18.9%	21.4%	16.8%	7.8%	22.9%	22.5%	24.6%	28.4%	5.3%	—
Returns
Return on equity (ROE)	57.6%	(24.0%)	43.5%	11.0%	(0.6%)	1.9%	16.1%	16.9%	5.7%	25.9%	24.5%	17.7%	32.8%	29.8%	49.1%	56.5%	69.1%	39.0%	—
Return on assets (ROA)	28.6%	(11.1%)	21.9%	4.6%	(0.3%)	0.8%	5.9%	6.5%	2.5%	11.5%	10.4%	8.0%	11.6%	8.2%	13.3%	17.0%	15.2%	5.9%	—
Return on invested capital (ROIC)	43.6%	—	38.4%	13.4%	(3.6%)	3.1%	13.0%	12.5%	7.4%	23.2%	21.3%	17.7%	26.4%	29.7%	54.5%	51.9%	51.2%	28.7%	—
Liquidity
Current ratio	2.30×	1.05×	1.60×	0.92×	1.04×	1.52×	1.00×	1.14×	0.96×	1.33×	1.13×	1.23×	1.19×	1.01×	0.97×	0.94×	0.89×	0.82×	0.64×
Quick ratio	1.92×	0.35×	1.08×	0.34×	0.72×	1.35×	0.65×	0.72×	0.47×	0.94×	0.43×	0.64×	0.40×	0.29×	0.11×	0.40×	0.37×	0.11×	0.16×
Leverage
Debt to equity	18.0%	116.4%	15.4%	85.2%	96.4%	60.6%	117.7%	113.6%	80.2%	21.9%	34.8%	57.5%	72.6%	84.0%	40.9%	56.9%	59.5%	192.3%	280.4%
Debt to capital	15.2%	53.8%	13.3%	46.0%	49.1%	37.7%	54.1%	53.2%	44.5%	18.0%	25.8%	36.5%	42.1%	45.7%	29.0%	36.3%	37.3%	65.8%	73.7%
Debt to assets	11.6%	41.5%	9.0%	35.5%	40.8%	30.4%	40.7%	43.3%	31.1%	11.3%	13.3%	27.8%	30.3%	24.7%	10.4%	17.1%	17.8%	28.4%	43.5%
Assets to equity	2.02×	2.16×	1.99×	2.38×	2.17×	2.42×	2.75×	2.60×	2.25×	2.25×	2.36×	2.22×	2.83×	3.64×	3.69×	3.33×	4.53×	6.65×	—
Efficiency
Asset turnover	1.78×	1.53×	1.66×	1.10×	1.09×	1.06×	0.77×	0.76×	1.07×	1.51×	1.05×	1.93×	1.69×	1.25×	1.79×	2.69×	2.07×	1.31×	—
Receivable days days	17	19	13	11	17	27	50	49	17	8	13	6	8	7	4	11	15	14	—
Inventory days days	54	64	53	73	30	42	100	113	64	61	110	46	74	139	98	36	69	104	—
Payable days days	19	19	21	28	31	23	41	78	41	53	90	3	4	7	9	14	26	26	—
Cash conversion cycle days	51	64	44	55	16	45	109	84	40	16	33	49	78	139	92	33	58	91	—
Dividends
Dividend payout ratio	8.6%	—	23.4%	14.0%	—	211.3%	45.3%	0.0%	135.8%	34.0%	41.0%	25.0%	14.4%	41.8%	4.0%	5.9%	8.4%	0.0%	—
Earnings retention rate	0.91×	—	0.77×	0.86×	—	(1.11×)	0.55×	1.00×	(0.36×)	0.66×	0.59×	0.75×	0.86×	0.58×	0.96×	0.94×	0.92×	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.

MRNS: frequently asked questions

What is MRNS's EPS?

Mehran Sugar Mills Limited reported basic earnings per share of Rs 29.02 for FY2025 (Oct 2024 – Sep 2025). Over the trailing twelve months (TTM to Jun 2026) EPS was Rs 19.23.

What is MRNS's P/E ratio?

At the closing price of Rs 61.00 on 16 Oct 2026, MRNS trades at a P/E of 3.2× based on EPS of Rs 19.23 (TTM to Jun 2026).

Does MRNS pay dividends?

Yes. Mehran Sugar Mills Limited declared a dividend of Rs 5.50 per share for FY2025. It has paid a dividend in each of the last 17 years. At Rs 61.00 that is a dividend yield of 9.0%.

What was MRNS's revenue and profit in FY2025?

Mehran Sugar Mills Limited reported revenue of Rs 13.6 bn and profit attributable to shareholders of Rs 2.2 bn for FY2025 (Oct 2024 – Sep 2025).

What is MRNS's book value per share?

Mehran Sugar Mills Limited's book value per share was Rs 63.63 at the end of FY2025. The shares trade at 0.93× book value.

Information only, not investment advice.