Magadh Sugar & Energy Ltd(MAGADSUGAR)

NSE: MAGADSUGARBSE: 540650

₹ 512.85-3.73%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 723 crWebsite: www.magadhsugar.comUpdated: 24 Oct 2026

About

Magadh Sugar & Energy is an integrated sugar company that makes sugar, spirits, ethanol and other by-products of sugar manufacturing. It runs three sugar mills in Bihar with a combined licensed crushing capacity of 21,500 TCD, 155 KLPD of distillery capacity and 38 MW of cogeneration capacity. The company accounts for around 50% of Bihar's organised sugar sector and belongs to the K.K. Birla Group. Revenue was Rs 1,244.54 Cr in FY26.^[1][2]

Business segments

Sugar: 74.6% of segment revenue in FY26 (Rs 1,091.05 Cr), vs Rs 1,191.2 Cr in FY25.^[3][1]
Distillery (ethanol and spirits): 20.4% of segment revenue in FY26 (Rs 297.92 Cr), vs Rs 295.82 Cr in FY25.^[3][1]
Co-generation (power): 5.1% of segment revenue in FY26 (Rs 74.25 Cr), vs Rs 83.8 Cr in FY25.^[3][1]

Plants and capacity

Narkatiaganj unit: 10,000 TCD of crushing capacity, an 80 KLPD distillery and a 10 MW power plant (FY25).^[1]
Sidhwalia unit: 5,000 TCD of crushing capacity, a 75 KLPD distillery and an 18 MW power plant (FY25).^[1]
Hasanpur unit: 6,500 TCD of crushing capacity and a 10 MW power plant (FY25).^[1]
The FY25 annual report says the Sidhwalia unit's sugar had ICUMSA below 45, which it calls among the best in the industry.^[1]
Spending on research and cane development was ₹265.26 lakhs in FY2024-25.^[1]

Sugar operations

Cane crushed was 191.11 lac qtls in FY26 (SS 2025-26), down 14% YoY.^[4]
Recovery on a C-equivalent basis was 10.94% in FY26 vs 10.79% the year before.^[4]
Sugar production was 20.27 lac qtls in FY26 vs 21.71 lac qtls the year before.^[4]
Sugar realisation was Rs 4,149/qtl in Q1 FY27, up 1% YoY. It was Rs 4,098/qtl for FY26, up 5%.^[5][4]
Sugar sales volume fell 7% YoY in Q1 FY27 on a smaller sugar quota: 61,765 t vs 63,387 t a year earlier.^[5]
Cane routed through C-molasses rose to 75% in FY26 from 30% the year before.^[4]

Ethanol and power

Ethanol produced was 121.22 lac ltrs in Q1 FY27, up 6% YoY. Ethanol sold fell 5% to 104.70 lac ltrs because OMCs took less.^[5]
Ethanol sold was 462.28 lac ltrs in FY26, down 0.28% YoY. The ESY 2025-26 ethanol allocation was 3.09 cr ltrs.^[4]
The distillery made 22.66 lakh litres of ethanol from maize/rice in Q3 FY26 (78.92 lakh litres for 9M), against nil a year earlier.^[6]
Average ethanol realisation was ₹59.21/litre in FY25 vs ₹60.14/litre in FY24.^[1]
Power sold to the grid fell 6% in FY26 because less cane was crushed. Power exports were 3.68 Crore units in FY25 vs 4.93 Crore units in FY24.^[4][1]

Customers and distribution

Sugar is sold through a wholesale network of distributors, brokers and sub-brokers across five states in India (FY25).^[1]
Ethanol is sold to oil marketing companies (Q1 FY27).^[5]
The company has a Power Purchase Agreement with the Bihar State Electricity Grid (FY25).^[1]
The company had no exports and no foreign exchange earnings in FY25.^[1]
Farmers were paid within 14 days of cane procurement in FY25.^[1]

Expansion projects

The Narkatiaganj sugar plant is being converted from sulphitation to a refinery, due for completion before SS 2026-27, to produce higher-quality sugar.^[5]
An incineration boiler at the Narkatiaganj distillery, due by September 2026, will raise operating days to about 340 from 270.^[5]

Recent developments

Total debt was Rs 511 cr in Jun-26, down from Rs 691 cr in Jun-25 and up from Rs 482 cr in Mar-26.^[5]
Crushing started late in SS 2025-26, so cane crushed in Q3 FY26 fell 24% YoY to 65.44 lakh qtl.^[6]

Market Cap

₹723 Cr

High / Low

₹635 / 413

Stock P/E

16.6

Price / Book

1.0

Book Value

₹625

EPS

₹45.1

No. of Shares

1.41 Cr

ROCE

7.8%

ROE

7.4%

OPM

9.7%

Debt / Equity

0.79

Sales

₹1,245 Cr

Net Profit

₹64 Cr

Promoter holding

61.0%

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Magadh Sugar & Energy Ltd(MAGADSUGAR)

About

Business segments

Plants and capacity

Sugar operations

Ethanol and power

Customers and distribution

Expansion projects

Recent developments

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