The Ravalgaon Sugar Farm Limited

Consumer Defensive — Confectioners · BSE

₹858.95−₹61.10 (−6.64%)

DalalBaazaar Score

35 / 100

🔴 Weak

Verdict

CAUTION

Risk

Very High

Driven by short-term liabilities exceed short-term assets, negative free cash flow, the company is currently loss-making.

In simple words: The company is currently losing money. Cash generation is currently the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 6:59 pm

Understanding the Business

Company site ↗

The 60-second version of The Ravalgaon Sugar Farm Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

The Ravalgaon Sugar Farm Limited does not have significant operations. Previously, it was engaged in manufacturing of confectionery products in India. The company was incorporated in 1933 and is based in Mumbai, India.

IndustryConfectioners

SectorConsumer Defensive

Employees18

Who are its competitors?

The closest listed comparisons in its industry are HINDUSTAN UNILEVER LTD., ITC LTD, NESTLE INDIA LIMITED, BRITANNIA INDUSTRIES LTD. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Little sign of one

Returns on capital of -22.9% are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

Peer median ROE51.0%

DalalBaazaar Score

35/ 100

Weak

Weighted across six categories. Every point is explained below.

✗ ROCE of -22.9% is below 10% — capital is not working hard
✗ The business is lossmaking at the net level

Quality vs. Valuation

Company Quality

35/ 100

Weak

How good the business is, ignoring the share price entirely.

Valuation

29/ 100

Expensive

What you are being asked to pay, ignoring how good the business is.

Weak on business quality and not cheap enough to compensate.

vs. its own history

Not enough price and earnings history

vs. sector peers

Not enough peers with a usable P/E

vs. generic bands

N/A

No P/E — the company is lossmaking

EV/EBITDA

—

PEG

—

What's Good / What's Bad

🟢 What's Going Well2

Debt is being paid down
Total debt is down 79% over 3 years.
Very low debt
Debt/Equity of 0.25x leaves the balance sheet with plenty of headroom.

🔴 What Needs Attention0

Nothing stands out as clearly deteriorating on the years of data available.

Red Flags

5 items require attention · 3 high · 2 watch

🔴Thin interest coverageFinancial
Operating profit covers interest only -15.6x — little room if earnings dip.
🔴Free cash flow negative for 4 yearsFinancial
The business has not covered its capital spending from operations for several years running, which has to be funded externally.
🔴The company is lossmakingFinancial
Net profit of -₹5 Cr in the latest reported year.
🟡Interest coverage is deterioratingFinancial
Cover has fallen from -8.6x to -15.6x.
🟡Short-term liquidity is tightFinancial
Current ratio of 0.37 — near-term obligations exceed near-term assets.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Deleveraging frees up earnings
Debt is down 79% over 3 years. Every rupee of interest not paid drops to the bottom line, so profit can grow even if revenue does not.

🔴 Bear CaseWhat could go wrong?

Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.
Several serious flags at once
3 high-severity checks triggered. Individually each has an explanation; together they raise the chance that something structural is wrong rather than a one-off.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1Free cash flow remains positive✗ -₹2 Cr
Profit that never becomes cash eventually stops being profit.
2Interest cover stays above 3x✗ -15.6x
How much operating profit can fall before interest stops being comfortably covered.
3ROCE stays above 8%✗ -22.9%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.

Investment Checklist

3 / 10 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✗ Generates positive free cash flow
✓ Manageable leverage (Debt/Equity < 1.0)
✗ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✗ Profit growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✗ Short-term technical trend isn't bearish

Price history

Quick Metrics

1 good · 4 neutral · 6 weak

Market Cap

₹29 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

Not meaningful

Loss-making

Earnings are negative, so a P/E multiple can't be read here

P/B Ratio

2.87x

Fair

Moderate premium to the company's book value

EPS (TTM)

₹-146.78

Loss-making

Negative earnings per share — the business is losing money

ROE

-47.8%

Weak

Weak capital efficiency

ROCE

-22.9%

Weak

Low return on total capital employed

Debt/Equity

0.25x

Low

Conservative leverage

Revenue Growth (YoY)

Not available

No data

Source didn't return this field

Profit Growth (YoY)

-140.0%

Falling

Profits are shrinking

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

-₹2 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

Operating Margin

0.0%

Weak

Thin margins leave little room for error

Net Margin

0.0%

Weak

Very little revenue reaches the bottom line

Current Ratio

0.37

Tight

Tight short-term liquidity

Beta (vs Nifty)

0.68

Defensive

Steadier than the market

52W Range Position

14%

Near low

Near its 52-week low

Technical Snapshot

SMA 20 / SMA 50

910.8 / 934.5

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

28.6

Oversold zone

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹10 Cr	₹9 Cr	₹1 Cr	—	—
EBITDA	-₹2 Cr	-₹3 Cr	-₹1 Cr	-₹2 Cr	—
EBITDA Margin	-19.4%	-30.2%	-96.1%	—	—
PAT (Net Profit)	-₹3 Cr	₹17 Cr	-₹2 Cr	-₹5 Cr	—
EPS	₹-376.3	₹509.06	₹-59.62	₹-143.1	—
ROE	—	101.2%	-13.4%	-47.8%	—
ROCE	—	135.4%	-12.0%	-22.9%	—
Total Debt	₹12 Cr	₹2 Cr	—	₹3 Cr	-40.6%
Free Cash Flow	-₹1 Cr	-₹6 Cr	-₹6 Cr	-₹2 Cr	—

🔴 ROE has fallen from 101.2% to -47.8% over 3 years (-149.0 pts).

🔴 ROCE has fallen from 135.4% to -22.9% over 3 years (-158.3 pts).

🟢 Total Debt has shrunk at 40.6% a year over 3 years.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹15 Cr

Total Liabilities

₹4 Cr

Cash & Equivalents

₹0 Cr

Operating Cash Flow

-₹2 Cr

Capex

—

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

62.0%

Corporate Actions

Ex-Dividend Date

10 Dec 2012

Peer Comparison

Company	P/E	ROE
HINDUSTAN UNILEVER LTD.	42.5x	21.5%
ITC LTD	16.6x	27.4%
NESTLE INDIA LIMITED	59.8x	79.9%
BRITANNIA INDUSTRIES LTD	44.1x	51.0%

Recent News

1 mixed5 general

Ravalgaon Sugar Farm passes all AGM resolutions with 98.7% vote

scanx.trade, 16 Sept

Ravalgaon Sugar Farm Company Secretary resigns effective Oct 10

scanx.trade, 06 Oct

Orient Press reports standalone net loss of Rs 1.25 crore in the June 2026 quarter

Business Standard, 12 AugResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

The Ravalgaon Sugar Farm Ltd. Share Price Live Today

CNBC TV18, 25 Jul

Ravalgaon Sugar Farm posts ₹63.32 lakh Q1FY27 loss; share transfer window open till Feb 4, 2027

scanx.trade, 11 Aug

Ravalgaon Sugar Farm (BSE:507300) - Stock Analysis

Simply Wall Street, 02 Dec

Watch Items

Cross-check against the company's latest quarterly filing / investor presentation before acting.
1 metric couldn't be retrieved for this stock — this is more common for smaller or thinly-covered listings.
RSI is in oversold territory — could mean either a bargain or a stock still falling for good reason. Check the 'why' before assuming reversal.

DalalBaazaar Thesis

MiddlingFinancial Health · Growth

WeakBusiness Quality · Profitability · Valuation · Risk

Points for each in the Score ↑

Weak on the fundamentals

Poor scores on business quality without a price low enough to compensate. There is no obvious argument for owning this over a stronger company at a similar valuation. 3 high-severity red flags sit above this conclusion and should be read first.

3 of 3 tripwires tripped — Free cash flow remains positive; Interest cover stays above 3x; ROCE stays above 8% · see Key things to watch ↑