SML Shakarganj Limited

Shakarganj Limited (SML) financial ratios

Shakarganj Limited earned a net margin of -22.2% in FY2025 against a five-year average of -8.7% (Sugar & Allied Industries median 0.6%). Return on equity was -36.4%, compared with a sector median of 2.0%. The current ratio stood at 0.30× and debt was 11.7% of equity. Cash took about -178 days to cycle through receivables, inventory and payables.

FY2025 vs the Sugar & Allied Industries median

Gross margin: -9.6%; Sector median 9.9%
Operating margin: -20.5%; Sector median 6.4%
Net margin: -22.2%; Sector median 0.6%
Return on equity (ROE): -36.4%; Sector median 2.0%
Return on assets (ROA): -11.9%; Sector median 0.6%
Current ratio: 0.30×; Sector median 0.93×
Debt to equity: 11.7%; Sector median 60.7%
Asset turnover: 0.53×; Sector median 1.01×

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

SML 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	FY2006 Oct 2005 – Sep 2006
Profitability
Gross margin	(9.6%)	(1.8%)	9.1%	9.4%	6.6%	2.6%	9.0%	4.8%	5.8%	(6.8%)	(1.0%)	(0.4%)	7.4%	11.6%	9.7%	9.1%	6.1%	8.5%	3.3%	4.8%
EBITDA margin	(12.6%)	(5.1%)	7.0%	5.9%	2.0%	0.3%	2.6%	8.0%	6.7%	7.3%	6.9%	(0.4%)	6.2%	9.2%	10.0%	10.9%	1.0%	6.4%	0.2%	14.0%
Operating margin	(20.5%)	(10.4%)	1.8%	1.3%	(1.3%)	(4.3%)	(1.3%)	1.3%	2.0%	(6.1%)	(2.8%)	(3.3%)	3.7%	7.2%	7.7%	6.2%	(7.1%)	1.0%	(7.0%)	8.2%
Pre-tax margin	(24.3%)	(14.1%)	(0.9%)	(1.1%)	(3.4%)	(7.7%)	(3.4%)	2.1%	3.1%	(0.7%)	(0.6%)	(5.1%)	2.4%	3.0%	(0.4%)	(8.7%)	(36.1%)	(11.4%)	14.3%	(5.3%)
Net margin	(22.2%)	(13.6%)	(1.8%)	(0.5%)	(5.4%)	(5.9%)	(3.6%)	(0.2%)	1.9%	(0.4%)	(2.2%)	(5.6%)	2.0%	3.4%	(1.5%)	(10.4%)	(37.0%)	(11.8%)	0.7%	7.6%
Effective tax rate	—	—	—	—	—	—	—	108.9%	39.8%	—	—	—	18.9%	(12.7%)	—	—	—	—	94.8%	—
Returns
Return on equity (ROE)	(36.4%)	(33.7%)	(5.1%)	(2.0%)	(16.8%)	(11.3%)	(10.5%)	(0.2%)	3.8%	(0.4%)	(3.1%)	(18.8%)	13.9%	52.4%	(56.5%)	(87.5%)	(79.0%)	(19.2%)	1.2%	12.5%
Return on assets (ROA)	(11.9%)	(11.1%)	(1.6%)	(0.6%)	(6.0%)	(5.9%)	(4.5%)	(0.1%)	1.9%	(0.1%)	(1.1%)	(6.0%)	2.9%	5.6%	(2.5%)	(8.8%)	(15.9%)	(7.6%)	0.4%	3.7%
Return on invested capital (ROIC)	—	—	—	—	—	—	—	(0.3%)	3.7%	—	—	—	9.7%	33.2%	—	—	—	—	1.3%	—
Liquidity
Current ratio	0.30×	0.44×	0.52×	0.38×	0.33×	0.34×	0.42×	0.37×	0.40×	0.18×	0.35×	0.23×	0.21×	0.33×	0.28×	0.10×	0.22×	0.44×	0.63×	0.76×
Quick ratio	0.20×	0.32×	0.29×	0.23×	0.12×	0.13×	0.17×	0.04×	0.08×	0.08×	0.23×	0.13×	0.11×	0.08×	0.12×	0.06×	0.06×	0.19×	0.37×	0.46×
Leverage
Debt to equity	11.7%	19.0%	17.1%	22.0%	26.4%	46.6%	45.9%	32.1%	35.7%	32.3%	80.6%	69.5%	152.7%	296.9%	2,279.7%	1,222.4%	550.6%	188.0%	153.6%	239.4%
Debt to capital	10.5%	16.0%	14.6%	18.0%	20.9%	31.8%	31.5%	24.3%	26.3%	24.4%	44.6%	41.0%	60.4%	74.8%	95.8%	92.4%	84.6%	65.3%	60.6%	70.5%
Debt to assets	4.0%	6.7%	7.4%	9.8%	12.1%	18.8%	20.3%	19.5%	19.4%	14.8%	27.2%	26.0%	37.5%	50.9%	67.9%	72.9%	73.3%	57.6%	56.6%	66.6%
Assets to equity	2.90×	2.55×	2.27×	2.21×	2.30×	2.36×	1.97×	1.73×	1.99×	2.55×	2.82×	3.12×	4.84×	9.30×	22.24×	9.99×	4.31×	2.99×	3.11×	3.42×
Efficiency
Asset turnover	0.53×	0.82×	0.90×	1.11×	1.11×	1.00×	1.24×	0.58×	1.03×	0.36×	0.51×	1.07×	1.46×	1.67×	1.64×	0.85×	0.43×	0.64×	0.53×	0.48×
Receivable days days	14	9	7	8	11	13	7	11	5	2	2	2	4	9	7	1	6	6	9	19
Inventory days days	35	34	34	26	31	39	32	68	29	53	42	21	38	44	22	36	108	74	104	117
Payable days days	227	153	145	85	69	81	44	42	70	272	180	84	64	35	16	29	56	33	21	17
Cash conversion cycle days	(178)	(111)	(104)	(52)	(26)	(30)	(4)	37	(36)	(219)	(137)	(62)	(22)	18	12	8	58	47	92	119
Dividends
Dividend payout ratio	—	—	—	—	—	—	—	—	74.1%	—	—	—	0.0%	0.0%	—	—	—	—	123.0%	0.0%
Earnings retention rate	—	—	—	—	—	—	—	—	0.26×	—	—	—	1.00×	1.00×	—	—	—	—	(0.23×)	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.

SML: frequently asked questions

What is SML's EPS?

Shakarganj Limited reported basic earnings per share of Rs -21.17 for FY2025 (Oct 2024 – Sep 2025).

Does SML pay dividends?

Shakarganj Limited did not declare a cash dividend for FY2025.

What was SML's revenue and profit in FY2025?

Shakarganj Limited reported revenue of Rs 14.0 bn and profit attributable to shareholders of -Rs 2.6 bn for FY2025 (Oct 2024 – Sep 2025).

What is SML's book value per share?

Shakarganj Limited's book value per share was Rs 58.08 at the end of FY2025. The shares trade at 1.60× book value.

Information only, not investment advice.