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Bannari Amman Sugars Limited (BANARISUG) Fair Value & Analysis

Consumer Defensive · IN · Market cap ₹42.5B

BA Bannari Amman Sugars Limited BANARISUG · NSE
Price₹3,464
Fair Value₹2,005
Upside-42.1%
Quality67/100
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Healthy Growth
Thin margins · 7.7% net margin
Low debt · generates free cash flow
0.36% dividend yield
Mixed vs. peers (6/14)
Narrow moat 39/100
Evidence: High Range ₹1,504 – ₹2,507 Share as image

Fair value as of: Aug 2, 2026

From 26 valuation models · updated 11 days ago

Share price −1.2% over the past month.

A solid business, but screening 42% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹2,507). The favourable scenario is already priced in.
  • Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

₹4,307 ₹1,554 Fair Value ₹2,005 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.

How to read this chart

60‑month range ₹1,554 – ₹4,307 · fair‑value band ₹1,504 – ₹2,507 · the ₹3,464 price screens above the ₹2,005 fair value. Dashed = 300-day average. As of Aug 2, 2026.

Full chart & analysis →

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Analysis

Bannari Amman Sugars Limited (BANARISUG) currently trades at ₹3,464, while our model-based Fair Value estimate is ₹2,005, implying the stock looks roughly 42.1% overvalued today. The Quality Score stands at 67/100 (solid quality), in the Consumer Defensive sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Bannari Amman Sugars Limited generated revenue of ₹19.2B at a net margin of 7.7%. Revenue declined 42.8% year over year. It earns a return on equity of 8.0%. The balance sheet holds a net cash position of ₹81.9M. Fundamentals as of Aug 2, 2026

Our scenario range runs from ₹1,504 (bear case) to ₹2,507 (bull case); at ₹3,464, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 14% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -43% fair-value upside, at -42%, BANARISUG screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹3,862 ₹5,846 ₹8,739 80
Residual Income ₹1,257 ₹1,338 ₹1,496 76
Rev-Margin DCF ₹1,940 ₹2,725 ₹3,667 74
All 26 models by family
DCF Models
FCF DCF ₹3,812 ₹6,090 ₹9,647 38
Owner Earnings ₹886.09 ₹1,411 ₹2,232 31
5Y Revenue Exit ₹1,940 ₹2,676 ₹3,564 39
5Y EBITDA Exit ₹2,219 ₹3,207 ₹4,330 41
5Y P/E Exit ₹2,407 ₹3,565 ₹4,771 38
10Y Revenue Exit ₹2,544 ₹3,389 ₹4,454 36
10Y EBITDA Exit ₹2,754 ₹3,762 ₹5,048 37
10Y P/E Exit ₹2,874 ₹4,012 ₹5,390 35
Earnings-Based
Graham-Dodd ₹802.12 ₹2,710 ₹3,633 54
Lynch FV ₹619.28 ₹884.69 ₹1,150 50
PEG = 1.0 ₹619.28 ₹884.69 ₹1,150 46
EPV ₹822.76 ₹958.48 ₹1,077 59
Dividend Discount
Gordon GGM ₹114.77 ₹238.64 ₹378.57 70
DDM Multi-Stage ₹114.77 ₹197.15 ₹250.46 61
Multiples
P/E Multiple ₹1,858 ₹2,477 ₹3,096 63
P/S Multiple ₹1,504 ₹2,005 ₹2,507 58
P/B Multiple ₹1,504 ₹2,005 ₹2,507 55
EV/EBIT ₹1,399 ₹1,863 ₹2,326 53
EV/EBITDA ₹1,547 ₹2,060 ₹2,573 54
EV/Revenue ₹1,001 ₹1,426 ₹1,852 43
Asset-Based
NCAV (Graham) ₹762.94 ₹1,022 ₹1,526 50
Growth DCF
Growth DCF ₹3,862 ₹5,846 ₹8,739 80
Rev-Margin DCF ₹1,940 ₹2,725 ₹3,667 74
Economic Profit
Residual Income ₹1,257 ₹1,338 ₹1,496 76
ROIC Compounder ₹822.76 ₹958.48 ₹1,077 72
Growth Earnings
Growth-Adj P/E ₹1,582 ₹2,259 ₹2,937 68

Widest divergence: DCF Models (₹3,389) versus Dividend Discount (₹197.15). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹19.2B
Revenue growth (YoY) -42.8%
Net margin 7.7%
Return on equity 8.0%
Free cash flow ₹4.1B FY2026
P/E ratio 28.8
More key figures
Operating margin 5.4%
EPS (TTM) ₹117.89
Dividend yield 0.4%
EPS growth (YoY) +18.2%
Net cash ₹81.9M FY2026

Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 68 · Market factors (momentum, volatility) 53

Profitability 45
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 88
Earnings quality: real cash, not paper profit
Fin. Strength 72
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 100
Calm price path (market factor)
Momentum 35
Price trend over the last 3–12 months (market factor)
52W Momentum 33
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Bannari Amman Sugars Limited engages in the manufacture and sale of sugar in India. The company operates through Sugar, Power, Distillery, and Granite Products segments.

Full company description

Bannari Amman Sugars Limited engages in the manufacture and sale of sugar in India. The company operates through Sugar, Power, Distillery, and Granite Products segments. It manufactures and sells cane crush; industrial alcohol and extra neutral spirits; polished granite products; and bio and agri natural fertilizer products, including capsules, fertilizers, fungicides, insecticides, nematicides, stimulants, decomposing cultures, enriched organic manures, micronutrient mixtures, organic manures. The company also generates power through co-generation power plants and windmills. It also exports its products. It sells its products to traders, institutions, and retail customers through distributors and direct sales channels. Bannari Amman Sugars Limited was incorporated in 1983 and is based in Coimbatore, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Bannari Amman Sugars Limited reported revenue of ₹19.2B in FY2026 versus ₹19.7B in FY2022, a compound −0.6%/yr. Reported net income was ₹1.5B in FY2026, compounding +16.6%/yr from FY2022.

Growth Quality 69/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹19.2B
Latest YoY
+6.9%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−8.7%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+5.0%
Avg. growth/yr (21Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.7%
Revenue −0.6%/yr
FY22 ₹19.7B
FY23 ₹25.2B
FY24 ₹22.2B
FY25 ₹17.9B
FY26 ₹19.2B
Net income +16.6%/yr
FY22 ₹800M
FY23 ₹1.4B
FY24 ₹1.5B
FY25 ₹1.0B
FY26 ₹1.5B
Character of growth · EPS growth decomposed (2015-2026) +8.5 % p.a.
Revenue per share +3.1 pp

of which total revenue +4.1 pp · buybacks/dilution −1.0 pp

EBIT margin −2.5 pp
Tax rate −1.5 pp
Residual (interest, one-offs) +9.4 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

BANARISUG screens 42% overvalued. Compare with Chocoladefabriken Lindt & Sprüngli AG →

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Cite: Fair Value Calculator (2026). "Bannari Amman Sugars Limited Fair Value". https://www.fairvalue-calculator.com/stock/BANARISUG

Peer Group

Confectioners · 77 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 67 · Top 25%
Fair Value upside −42% · Below median
Return on equity (TTM) 8% · Above median
Return on assets 5% · Above median
Net margin (TTM) 8% · Top 25%
Operating margin (TTM) 5% · Below median
Revenue growth -43% · Bottom 25%
Dividend yield (TTM) 0.4% · Bottom 25%
Debt / equity 0.00× · Lower than 75% of peers

Valuation Multiples vs Confectioners median · lower = cheaper

P/E (TTM) 28.8× · Pricier than 75% of peers
P/B 2.22× · Pricier than 75% of peers
P/S (TTM) 2.22× · Pricier than 75% of peers
P/FCF 0.1× · Cheaper than median
EV/EBITDA 17.6× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 28
FUTURE 0 · sector 0
PAST 32 · sector 24
HEALTH 100 · sector 92
DIVIDEND 7 · sector 56

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Confectioners stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
Chocoladefabriken Lindt & Sprüngli AG LISN CHF 96,500 CHF 9,874 -90%
Mondelez International, Inc MDLZ $61.00 $27.68 -55%
The Hershey Company HSY $170.27 $91.25 -46%
Barry Callebaut AG BARN CHF 1,100 CHF 711.91 -35%
ORION Corp 271560 127,100 KRW 203,315 KRW +60%
Tootsie Roll Industries, Inc TROLB $39.00 $22.21 -43%
Guangxi Yuegui Guangye Holdings 000833 ¥18.81 ¥9.83 -48%
Cloetta AB CLAB kr 48.88 kr 59.12 +21%
Balrampur Chini Mills Limited BALRAMCHIN ₹586.20 ₹304.54 -48%
PT Yupi Indo Jelly Gum Tbk YUPI 1,320 IDR 1,286 IDR -3%

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Frequently asked questions

Is Bannari Amman Sugars Limited (BANARISUG) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of ₹2,005 versus a price of ₹3,464, about −42% (overvalued).
What is the fair value of BANARISUG?
Our model-based fair value for Bannari Amman Sugars Limited is ₹2,005 (as of Aug 2, 2026), built from audited fundamentals. The current price is ₹3,464.
What is the quality score of BANARISUG?
Bannari Amman Sugars Limited has a Quality Score of 67/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Bannari Amman Sugars Limited (BANARISUG)?
Bannari Amman Sugars Limited reported trailing-twelve-month revenue of about ₹19.2B (latest available figure, as of Aug 2, 2026).
What is the net profit margin of BANARISUG?
The net profit margin of Bannari Amman Sugars Limited is about 7.7%, meaning it keeps roughly 7.7% of revenue as net income. Based on the latest reported figures.
Does Bannari Amman Sugars Limited pay a dividend?
Bannari Amman Sugars Limited currently shows a dividend yield of about 0.36% relative to its recent price (as of Aug 2, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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