Mawana Sugars Limited stands as the 6th largest sugar-producing entity in India, with its three sugar manufacturing units strategically located in the fertile western region of Uttar Pradesh. As a part of the esteemed Shriram Group, which was founded in 1889, Mawana Sugars has a rich legacy of over 75 years in the sugar business. The company operates as a diversified manufacturing entity with its corporate office situated in Gurugram, maintaining a robust position within India's sugar industry.
Incorporated in 1961, Mawana Sugars Limited was formerly known as Shriram Industrial Enterprises Limited. Its name was officially changed to Mawana Sugars Limited in December 2007. The company has successfully evolved from its origins into a focused manufacturer of sugar and allied products, solidifying its status as a significant player in the Indian sugar sector.
The company boasts a total installed capacity of 29,500 Tonnes Crushed Per Day (TCD), complemented by a 47 MW Co-generation facility and a 120 klpd (kilo litres per day) distillery unit. Mawana Sugars operates across multiple key business segments: sugar manufacturing, power generation, and ethanol production. Its manufacturing facilities are strategically situated in the sugar-rich regions of Uttar Pradesh, facilitating efficient raw material sourcing and cost-effective operations.
The company's operations are segmented into Sugar, Power, and Distillery. It produces various types of sugar including plantation white, refined, and specialty sugars, as well as IP (Indian Pharmacopoeia) grade sugar suitable for pharmaceutical applications. Additionally, the company is actively involved in the cogeneration of power from bagasse and the manufacturing and sale of anhydrous and hydrous ethanol, including rectified spirit, denatured spirit, fuel ethanol, organic manure, and fusel oil.
Its distillery operations highlight a strong commitment to value addition and diversification. The company manufactures anhydrous and hydrous ethanol from molasses at its Nanglamal (Meerut) plant, which has a daily production capacity of 120,000 litres. This plant is equipped to produce rectified spirit, denatured spirit, and fuel ethanol. Furthermore, its bio-composting facility produces approximately 3,000 metric tons of organic manure per month.
Mawana Sugars is distinguished as being the first ISO 9001:2000 and the first ISO 22000:2005 certified Sugar Company in India. Currently certified with ISO 22000:2018 (Food Safety Management System), Mawana Sugar leverages advanced technology in collaboration with Tate & Lyle (UK). These stringent certifications underscore the company's unwavering dedication to upholding international quality benchmarks and comprehensive food safety protocols across all its operational facets.
The "Mawana" brand is widely recognized and synonymous with 'Sweetness', 'Taste', and 'Customer Loyalty' in the Indian market. Available in popular retail pack sizes of 1 kg, 2 kg, and 5 kg, 'Mawana' has established itself as a premium quality retail sugar pack. The Company is also a preferred supplier to major institutional clients, including Nestle, Coca Cola, JoyCo, Perfetti, Hamdard, Dabur, Haldiram, GSK, Britannia, Cadburys, and Abott. This diversified customer portfolio, spanning both retail and institutional segments, ensures stable revenue streams and enhances the company's market resilience.
As of the latest available data, Mawana Sugars Ltd (MAWANASUG) has a market capitalization of ₹357.29 Cr as of April 17, 2025. The company's financial performance has demonstrated significant improvement in recent quarters. Net profit for Mawana Sugars surged by 311.75% to ₹72.51 crore in the quarter ended December 2024, compared to ₹17.61 crore in the corresponding quarter ended December 2023. Sales increased by 2.59% to ₹334.44 crore in the quarter ended December 2024, against ₹325.99 crore in the previous quarter ended December 2023.
Key Financial Highlights:
- Revenue: ₹1,426 Cr (FY25)
- Net Profit: ₹58.0 Cr (FY25)
- Market Capitalization: ₹357.29 Cr (as of April 2025)
- Dividend Yield: 4.38% (current)
- P/E Ratio: 9.49
- P/B Ratio: 0.87
The company has delivered strong profit growth, achieving a Compound Annual Growth Rate (CAGR) of 22.2% over the last 5 years. Mawana Sugars has maintained a healthy dividend payout ratio of 48.4%, reflecting its commitment to shareholder returns and financial stability.
The promoter of Mawana Sugars Ltd is Mr. Krishna Shriram, who holds 62.93% of the total equity. This substantial promoter holding of 63.5% signifies strong confidence in the company's long-term prospects and contributes to a stable ownership structure.
CARE has upgraded Mawana Sugars' bank facilities rating from BBB (Stable) to BBB+ (Stable). This credit rating enhancement reflects the company's improving financial health and creditworthiness. Mawana Sugars continues to prioritize operational efficiency and strategic initiatives to further enhance its market position.
Mawana Sugars Limited has recently announced the closure of its crushing operations for the 2024-25 season. The company remains actively engaged in sugar manufacturing, ethanol production, and green power generation. The seasonal nature of sugar operations is typical for the industry, with companies often focusing on value-added products during off-season periods.
Mawana Sugars represents a well-established and diversified player in India's sugar industry, with operations spanning sugar manufacturing, ethanol production, and power generation. The company's strong brand recognition, adherence to quality certifications, and strategic location advantages position it favourably for continued growth in the dynamic Indian sugar and allied products market.
