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K.M. Sugar Mills Limited (KMSUGAR) Fair Value & Analysis

Consumer Defensive · IN · Market cap ₹2.4B

KM K.M. Sugar Mills Limited KMSUGAR · NSE
Price₹28.37
Fair Value₹76.20
Upside+168.6%
Quality54/100
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Mixed Growth
Thin margins · 8.1% net margin
Low debt · generates free cash flow
Ranks above peers (12/13)
Moderate moat 48/100
Evidence: High Range ₹47.77 – ₹112.22 Share as image

Fair value as of: Aug 8, 2026

From 23 valuation models · updated today

Fair value updated Aug 8, 2026, revised from ₹92.46 to ₹76.20 (−17.6%) since Jul 3, 2026. Share price +1.8% over the past month.

A solid business, screening 169% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (₹47.77). The market is more pessimistic than our downside scenario.
  • Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (₹47.77 to ₹112.22) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹48.26 ₹11.77 Fair Value ₹76.20 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 8, 2026.

How to read this chart

60‑month range ₹11.77 – ₹48.26 · fair‑value band ₹47.77 – ₹112.22 · the ₹28.37 price screens below the ₹76.20 fair value. Dashed = 300-day average. As of Aug 8, 2026.

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Analysis

K.M. Sugar Mills Limited (KMSUGAR) currently trades at ₹28.37, while our model-based Fair Value estimate is ₹76.20, implying the stock looks roughly 168.6% undervalued today. We read business quality at 54/100 (solid quality), in the Consumer Defensive sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, K.M. Sugar Mills Limited generated revenue of ₹6.6B at a net margin of 8.1%. Revenue declined 30.8% year over year. It earns a return on equity of 14.6%. Net debt stands at ₹2.4B. Fundamentals as of Aug 8, 2026

Our scenario range runs from ₹47.77 (bear case) to ₹112.22 (bull case); at ₹28.37, the current price sits below 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 16% below its 52-week high and 23% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -45% fair-value upside, at 169%, KMSUGAR 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 BearBaseBull Evidence
Highest evidence
Growth DCF ₹35.99 ₹49.92 ₹68.31 80
Residual Income ₹40.51 ₹49.81 ₹109.89 76
Rev-Margin DCF ₹51.07 ₹82.34 ₹116.15 74
All 23 models by family
DCF Models
FCF DCF ₹35.19 ₹50.43 ₹71.57 38
Owner Earnings ₹26.65 ₹38.16 ₹54.11 31
5Y Revenue Exit ₹51.07 ₹82.35 ₹121.50 39
5Y EBITDA Exit ₹63.89 ₹105.40 ₹152.46 41
5Y P/E Exit ₹61.23 ₹100.61 ₹140.43 38
10Y Revenue Exit ₹42.82 ₹69.23 ₹103.00 36
10Y EBITDA Exit ₹52.47 ₹84.54 ₹125.26 37
10Y P/E Exit ₹50.83 ₹81.36 ₹116.61 35
Earnings-Based
Graham-Dodd ₹39.48 ₹99.02 ₹128.52 54
PEG = 1.0 ₹18.17 ₹25.96 ₹33.74 46
EPV ₹45.39 ₹52.51 ₹58.65 59
Multiples
P/E Multiple ₹87.10 ₹116.13 ₹145.16 63
P/S Multiple ₹74.03 ₹98.71 ₹123.39 58
P/B Multiple ₹74.03 ₹98.71 ₹123.39 55
EV/EBIT ₹95.34 ₹127.01 ₹158.68 53
EV/EBITDA ₹92.27 ₹122.92 ₹153.57 54
EV/Revenue ₹64.37 ₹91.82 ₹119.27 43
Asset-Based
NCAV (Graham) ₹21.30 ₹28.54 ₹42.60 50
Growth DCF
Growth DCF ₹35.99 ₹49.92 ₹68.31 80
Rev-Margin DCF ₹51.07 ₹82.34 ₹116.15 74
Economic Profit
Residual Income ₹40.51 ₹49.81 ₹109.89 76
ROIC Compounder ₹45.88 ₹55.84 ₹67.32 72
Growth Earnings
Growth-Adj P/E ₹67.44 ₹96.35 ₹125.25 68

Widest divergence: Multiples (₹98.71) versus Asset-Based (₹28.54). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) ₹6.6B
Revenue growth (YoY) -30.8%
Net margin 8.1%
Return on equity 14.6%
Free cash flow ₹312M FY2026
P/E ratio 4.5
More key figures
Operating margin 12.8%
EPS (TTM) ₹5.81
EPS growth (YoY) -16.4%
Net debt ₹2.4B FY2026

Figures from reported company fundamentals · as of Aug 8, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 54/100

Of which business quality 50 · Market factors (momentum, volatility) 54

Profitability 50
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 44
Balance sheet, leverage, solvency risk
Investment 65
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 41
Price trend over the last 3–12 months (market factor)
52W Momentum 45
Distance to the 52-week high (market factor)
Net Issuance 83
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

K.M. Sugar Mills Limited engages in manufacturing and sells of sugar in India. The company operates through Sugar and Distillery segments. It also produces and sells various grades of sugar in jute bags and PP bags; and rectified spirit, ethanol, and extra neutral alcohol. In addition, it offers molasses, bagasse, and industrial alcohol.

Full company description

K.M. Sugar Mills Limited engages in manufacturing and sells of sugar in India. The company operates through Sugar and Distillery segments. It also produces and sells various grades of sugar in jute bags and PP bags; and rectified spirit, ethanol, and extra neutral alcohol. In addition, it offers molasses, bagasse, and industrial alcohol. The Company operates a 25 MW bagasse-based co-generation power plant at Motinagar, Ayodhya, Uttar Pradesh. K.M. Sugar Mills Limited was founded in 1942 and is based in Faizabad, India.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

K.M. Sugar Mills Limited reported revenue of ₹6.6B in FY2026 versus ₹5.5B in FY2022, a compound +4.7%/yr. Reported net income was ₹534M in FY2026, compounding +6.5%/yr from FY2022.

Growth Quality 58/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹6.6B
Latest YoY
−0.1%
Avg. growth/yr (3Y)
+4.6%
Avg. growth/yr (5Y)
+6.4%
Avg. growth/yr (20Y)
+2.2%
Revenue +4.7%/yr
FY22 ₹5.5B
FY23 ₹5.8B
FY24 ₹6.6B
FY25 ₹6.6B
FY26 ₹6.6B
Net income +6.5%/yr
FY22 ₹415M
FY23 ₹232M
FY24 ₹281M
FY25 ₹356M
FY26 ₹534M

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Cite: Fair Value Calculator (2026). "K.M. Sugar Mills Limited Fair Value". https://www.fairvalue-calculator.com/stock/KMSUGAR

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 54 · Above median
Return on equity (TTM) 15% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) 8% · Top 25%
Operating margin (TTM) 13% · Above median
Revenue growth -31% · Bottom 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Confectioners median · lower = cheaper

P/E (TTM) 4.5× · Cheaper than 75% of peers
P/B 0.61× · Cheaper than median
P/S (TTM) 0.37× · Cheaper than median
P/FCF 0.1× · Cheaper than median
EV/EBITDA 2.7× · Cheaper 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 100 · sector 27
FUTURE 0 · sector 0
PAST 59 · sector 26
HEALTH 100 · sector 91
DIVIDEND 0 · sector 56

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 8, 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 $39.50 $21.81 -45%
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 K.M. Sugar Mills Limited (KMSUGAR) overvalued or undervalued?
As of Aug 8, 2026, our model estimates a fair value of ₹76.20 versus a price of ₹28.37, about +169% (undervalued).
What is the fair value of KMSUGAR?
Our model-based fair value for K.M. Sugar Mills Limited is ₹76.20 (as of Aug 8, 2026), built from audited fundamentals. The current price is ₹28.37.
What is the quality score of KMSUGAR?
K.M. Sugar Mills Limited has a Quality Score of 54/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of K.M. Sugar Mills Limited (KMSUGAR)?
K.M. Sugar Mills Limited reported trailing-twelve-month revenue of about ₹6.6B (latest available figure, as of Aug 8, 2026).
What is the net profit margin of KMSUGAR?
The net profit margin of K.M. Sugar Mills Limited is about 8.1%, meaning it keeps roughly 8.1% of revenue as net income. Based on the latest reported figures.

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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