Simbhaoli Sugars LTD.: Stakeholders Empowerment Services

STAKEHOLDERS EMPOWERMENT SERVICES SIMBHAOLI SUGARS LTD.
SECTOR: SUGAR REPORTING DATE: 23RD FEBRUARY, 2019
Simbhaoli Sugars Ltd.

NSE Symbol - SIMBHALS TABLE 1 - MARKET DATA (STANDALONE) (AS TRADED ON 22ND FEBRUARY, 2019)
Sector - Sugar NSE Market Price (`) 8.65 NSE Market Cap. (₹ Cr.) 33.98
Face Value (`) 10.00 Equity (` Cr.) 39.28
Business Group – N.A. 52 weeks High/Low (₹) 18.05/7.5 Net worth (₹ Cr.)* 83.59
Year of Incorporation - 2011 TTM P/E N.A. Traded Volume (Shares) 30,144
TTM P/BV 0.41 Traded Volume (lacs) 2.61
Registered Office - Source - Capitaline, TTM - Trailing Twelve Months, N.A. - Not Applicable, * As on 30th September, 2018
Simbhaoli, District- Hapur COMPANY BACKGROUND

Uttar Pradesh - 245 207
Simbhaoli Sugars Limited is a technology company. The Company's principal products
include Sugar and Alcohol. The Company is engaged in various businesses, such as refined
Company Website: sugar, specialty sugars, liquor, co-generated power, extra neutral alcohol (ENA), ethanol,
www.simbhaolisugars.com bio-manure and technology consultancy. Its segments include Sugar, Alcohol, Power and
Others. Its Bulk Sugars product portfolio includes ethanol, power and potable liquor.
Its Specialty Sugars range includes white crystal sugar and table sugar. Its bio-manure
products, which are marketed under the SOM brand name, include organic manure, neem
plus and paddy special.
Surveillance Actions: There was no surveillance action on the Company as on date of this Report i.e. 23rd February, 2019.
Revenue and Profit Performance (Standalone)
400 Quarterly revenue and Profit (₹ CRORE) The revenue of the Company increased from ₹ 63.91 crores to ₹
297.46 160.69 crores from quarter ending Sep’17 to quarter ending
300 Sep’18. The Company made a loss of ₹ 0.21 crores in quarter
200 160.69 ending Sep’18 vis-a-vis making a loss of ₹ 34.10 crores in quarter
ending Sep’17.
100 63.91
-0.21
-33.21 -34.10
0
-100
Sep'18 Mar'18 Sep'17
Revenue Profit
Source: Moneycontrol
Performance vis-à-vis Market

1.50
1.25
TABLE 2- Returns
1-m 3-m 6-m 12-m
1.00
Simbhaoli Sugars Ltd -14.78% -27.92% -8.95% -41.36%
0.75
Nifty -0.54% 0.99% -7.70% 3.19%
0.50 Nifty FMCG -2.65% -2.25% -10.31% 10.38%
0.25 Source - Capitaline/NSE
Feb 18 Apr 18 Jun 18 Aug 18 Oct 18 Dec 18 Feb 19
Simbhaoli Sugars Ltd NIFTY NIFTY FMCG
Stakeholders’ Education | Corporate Governance Research | Corporate Governance Score | Proxy Advisory 1|P AGE

TABLE 3 – QUATERLY FINANCIALS (STANDALONE)
% Change
(₹ Cr.) Sep’18 Mar’18 Sep’17
Sep ’18 vs Mar’18 Mar’18 vs Sep’17
Net Worth 83.59 85.20 185.38 -1.89% -54.04%
Current Assets 344.20 433.87 187.16 -20.67% 131.82%
Non-Current Assets 1,475.95 1,494.79 1,516.45 -1.26% -1.43%
Total Assets 1,820.15 1,928.65 1,703.61 -5.63% 13.21%
Investments 152.91 155.40 157.31 -1.60% -1.21%
Finance Cost 8.92 -55.34 34.02 N.A. -262.67%
Long Term Liabilities 22.85 338.94 216.25 -93.26% 56.74%
Current Liabilities 1,713.71 1,504.51 1,301.98 13.90% 15.56%
Turnover 160.69 297.46 63.91 -45.98% 365.44%
Profit After Tax -0.21 -33.21 -34.10 N.A. N.A.
EPS (₹) -0.05 -8.86 -9.10 N.A. N.A.
Source - Money Control/Stock exchange filing
Discussion by the Company in quarterly results: In the notes of financial statement for the quarter and half year ended 30th
September, 2018 it is stated that “For the quarter and six months' period ended September 30, 2018 and previous periods, the
Company has incurred losses before interest. The losses were mainly attributable to high raw material cost being fixed by the
Government, and relatively market driven lower price of finished goods i.e. sugar and molasses both of which are external
factors. Due to losses, the company failed in meeting its payment obligations to lenders and also to the farmers towards the
timely payment of cane price, though the Company continues to operate its capacities at optimal levels. The debt restructuring
exercise of the loan liabilities of the Company has been discontinued by the lenders in view of the change in policy framework and
the lenders to the Company have taken recovery steps including loan recalls. However, Hon'ble supreme Court stayed the
implementation of such changed framework for certain sectors including Sugar. The application moved by a lender before the
Hon'ble NCLT Allahabad bench, has been stayed by the Hon'ble Supreme Court. The Company expects that considering the nature
of industry and ongoing discussions with the lenders, its loans liabilities would be realigned commensurate with its available cash
flow.
Meanwhile, the Government has implemented various measures to improve the financial health of the sugar industry. Further
pursuant to a favorable Order of Hon'ble High Court of Uttar Pradesh, the Company is also confident to receive substantial
amount on account of accrued benefits under the Sugar Promotion Policy 2004. In view of the above, these financial statements
are continued to be presented on going concern basis, which contemplates realisation of assets and settlement of liabilities in the
normal course of business.”
AUDIT QUALIFICATIONS
Audit Qualifications in last 3 years: The Statutory Auditors have made qualifications in their Report for FY 2017-18. No
qualifications were made for FY 2015-16 and FY 2016-17.
Qualifications in FY 2017-18: -
STANDALONE
Basis for Qualified Opinion: “1. As stated in Note No.10 to the standalone financial statement, no provision has been made in
respect of interest accrued and due but not paid by the company on certain loans aggregating to Rs. 11,971.59 Lacs for the
reasons stated in the said note. Consequently, loss for the year and ‘current-other financial liabilities’ has been understated and
‘other equity’ has been overstated by Rs. 11,971.59 Lacs. Our report is qualified for the above matters.”
Qualified Opinion: “In our opinion and to the best of our information and according to the explanations given to us, except for
the effects of the matter described in the Basis for Qualified Opinion paragraph above, the aforesaid standalone Ind AS financial
statements give the information required by the Act in the manner so required and give a true and fair view in conformity with
the accounting principles generally accepted in India including the Ind AS, of the state of affairs (financial position) of the
Company as at March 31, 2018, and its loss (financial performance including other comprehensive income), its cash flows and the
changes in equity for the year ended on that date.”

CONSOLIDATED
Basis for Qualified Opinion: “1. As stated in Note No.9 to the consolidated financial statement, no provision has been made in
respect of interest accrued and due but not paid by the company on certain loans aggregating to Rs. 11,971.59 Lacs for the
reasons stated in the said note. Consequently, loss for the year and ‘current-other financial liabilities’ has been understated and
‘other equity’ has been overstated by Rs. 11,971.59 Lacs. Our report is qualified for the above matters.”
Basis for Adverse Opinion: “As explained in Note No. 1, these consolidated financial statements have been prepared without
consolidation of financials of one subsidiary viz Simbhaoli Power Private Limited (SPPL) because the Ind AS compliant financial
statements of the subsidiary company are under compilation. This acquisition is, therefore, accounted for as investment in the
consolidated financial statements. Under the accounting principles generally accepted in India, the subsidiary should have been
consolidated because it is controlled by the Company. Had the company been consolidated, many elements in the accompanying
financial statements would have been materially affected. The effects on the financial statements due to the failure to
consolidate have not been determined.”
Adverse Opinion: “In our opinion, because of the non-compilation of financial statement of one of its subsidiary in the
consolidated financial statements as mentioned in the Basis for Adverse Opinion paragraph, the consolidated financial
statements do not give the information required by the Companies Act, 2013 in the manner so required and also do not give a
true and fair view in conformity with the accounting principles generally accepted in India including the Ind AS, of the
consolidated state of affairs of the Group as at March 31, 2018, of their consolidated losses including other comprehensive
income and their consolidated cash flows and consolidated statement of changes in equity for the year ended on that date.”
Management Response: “The comments on the statement of accounts referred to in the report of the auditors are self-
explanatory, and explained in the appropriate notes to accounts, the details of which are mentioned elsewhere in this report.”
Response Comment
Frequency of Qualifications in last 3 years? No Qualification in FY 2017-18 only in last 3 FY’s
Have the auditors made any adverse remark in last 3 years? Yes In FY 2017-18 (As detailed above).
Are the material accounts audited by the Principal Auditors? Yes -

Do the financial statements include material unaudited financial
No -
statements?
TABLE 4: BOARD PROFILE (AS PER ANNUAL REPORT - FY 2017-18)

Regulatory Norms Company
% of Independent Directors on the Board 50% 44%
% of Promoter Directors on the Board - 33%
Number of Women Directors on the Board At least 1 1
Classification of Chairman of the Board - Promoter Non-Executive Director
Is the post of Chairman and MD/CEO held by the same person? - No
Average attendance of Directors in the Board meetings (%) - 82.81%
Note: Board Composition is as on 31st March, 2018
Composition of Board: The Board of the Company comprises of 9 Directors which includes 4 Independent Directors. As per
Regulation 17(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company should have
at least 50% Independent Directors as the Chairman of the Board is a Promoter Director. The Company has 44% of Independent
Directors and hence, it does not meet the regulatory requirements.
Board Diversity: The Company has 9 directors out of which 1 is Woman Director.
Attendance at Board Meetings: During the FY 2017-18, the average attendance of Directors in the Board meetings was 82.81%.

TABLE 5 - FINANCIAL RATIOS
% Change
Ratios Sep’18 Mar’18 Sep’17
Sep ’18 vs Mar’18 Mar’18 vs Sep’17
Inventory Turnover 0.72 0.89 1.24 -19.41% -28.65%
Debtors Turnover 5.86 8.10 3.24 -27.57% 149.73%
Turnover
Ratios
Fixed asset Turnover 0.11 0.20 0.04 -45.29% 372.18%

Current Asset Turnover 0.47 0.69 0.34 -31.91% 100.78%
Total Sales to Total Assets Ratio 0.09 0.15 0.04 -42.76% 311.13%
Operating Profit Margin 9.35% -26.65% 10.98% N.A. -342.58%
Return Ratios
Net Profit Margin -0.13% -11.16% -53.36% N.A. N.A.

Return on Assets (ROA) N.A. N.A. N.A. N.A. N.A.
Return on Equity (ROE) N.A. N.A. N.A. N.A. N.A.
Return on Capital Employed (ROCE) N.A. N.A. N.A. N.A. N.A.
Current Ratio 0.20 0.29 0.14 -30.35% 100.61%
Liquidity
Ratios
Quick Ratio 0.07 0.07 0.10 6.25% -37.02%

Cash Ratio 0.05 0.04 0.09 30.37% -53.71%
Working Capital Turnover ratio N.A. N.A. N.A. N.A. N.A.
Debt to Equity Ratio 5.81 9.32 4.45 -37.65% 109.19%
Solvency Ratios
Total Liabilities to Totals Asset Ratio 0.95 0.96 0.89 -0.18% 7.25%
Retained Earnings to Totals Assets Ratio* N.A. -0.20 N.A. N.A. N.A.
Long Term Debt to Total Asset Ratio 0.00 0.17 0.12 -97.53% 43.78%
Interest Coverage Ratio 1.68 N.A. 0.21 N.A. N.A.
Market Cap / Sales 0.33 0.19 1.67 78.22% -88.88%
Trading
Ratios
Market Cap/ Net Worth 0.64 0.65 0.58 -1.87% 12.60%

Market Cap/PAT N.A. N.A. N.A. N.A. N.A.
Market Cap/EBITDA 3.54 N.A. 15.22 N.A. N.A.
Source - Money Control/Stock exchange filing |*Retained Earnings information is not available in quarterly financial results
TABLE 6 - TRADING VOLUME
% Change
Particulars Sep'18 Mar'18 Sep'17
Sep ’18 vs Mar’18 Mar'18 vs Sep'17
Trading Volume (shares) (avg. of 1 qtr) 64,951 94,632 79,235 -31.37% 19.43%
Trading Volume (shares) (high in 1 qtr) 8,66,275 16,96,690 4,84,267 -48.94% 250.36%
Trading Volume (shares) (low in 1 qtr) 1,576 14,120 14,622 -88.84% -3.43%
Ratio - High/low trading volume 549.67 120.16 33.12 357.44% 262.82%
Ratio - High/average trading volume 13.34 17.93 6.11 -25.61% 193.35%
Source - Capitaline
TABLE 7 (A): OWNERSHIP & MANAGEMENT RISKS
Sep'18 Mar'18 Sep'17 Comments
Promoter
50.96 50.96 48.60 • The promoter shareholding increased from 48.60% to 50.96%
shareholding
Shareholding (%)
due to issue of shares pursuant to conversion of warrants.

Public - Institutional
0.02 0.01 0.03
shareholding • The shareholding of public institution decreased marginally from
Public - Others 0.03% to 0.02% and that of public others decreased from 51.37%
49.02 49.03 51.37 to 49.02% during the same period.
shareholding
Non-Promoter Non- • The promoters have pledged 33.14% of their shareholding.
0.00 0.00 0.00
Public Shareholding
Source - NSE

th
MAJOR SHAREHOLDERS (AS ON 30 SEPTEMBER 2018)
S. No. Promoters Shareholding S. No. Public Shareholders Shareholding
Pearl Innovative Marketing Pvt.
1 Dholadhar Investment Pvt. Ltd. 19.00% 1 5.78%
Ltd.
2 Gurmit Singh Mann 10.76% 2 Shri Vatsala Traders Pvt. Ltd 4.75%
Wang Investment and Finance Pvt.
3 Gursimran Kaur Mann 6.84% 3 1.97%
Ltd.
4 Gurpal Singh 6.12% 4 U K Paints (India) Pvt. Ltd. 1.95%
Pritam Singh Sandhu Associate Pvt.
5 5.29% 5 JM Financial Services Ltd. 1.24%
Ltd.
Source - NSE
TABLE 7 (B): OWNERSHIP & MANAGEMENT RISKS
Market Activity of Promoters* The promoters have not sold/bought any shares from the market during FY 2017-18.
During the year, the Company has issued and allotted 50,00,000 fully convertible share
Preferential issue to promoters warrants to specified promoter directors on preferential allotment basis. Out of these,
18,00,000 warrants were converted into equity shares on March 29, 2018.
Preferential issue to others No preferential issue of shares was made to other shareholders during FY 2017-18.
GDRs issued by the Company The Company did not issue any GDRs during FY 2017-18.
The Company did not issue any shares to the employees under its ESOP Scheme during FY
Issue of ESOPs
2017-18.
Source - Annual Report FY 2017-18 | *Source - As per Form MGT – 9 forming part of Annual Report FY 2017-18
TABLE 8: PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY
Sr. No. Name and Description of main products / services % to Total turnover of the Company
1. Sugar 95%
2. Alcohol 5%
Source - Annual Report FY 2017-18

Glossary
Equity: The equity shares capital of the Company
Net Worth: The amount by which the Assets exceeds the liabilities excluding shareholders’ funds of the Company
Turnover: The revenue earned from the operations of the Company
EPS: Earning Per Share is net profit earned by the Company per share
Profit After Tax
𝐸𝑃𝑆 =
Number of outstanding shares
P/E ratio: It is the ratio of the Company’s share price to earnings per share of the Company
Price of each share
𝑃/𝐸 𝑟𝑎𝑡𝑖𝑜 =
Earnings per share
Current Assets: Cash and other assets that are expected to be converted to cash in one year
Fixed Assets: assets which are purchased for long-term use and are not likely to be converted quickly into cash, such as land,
buildings, and equipment
Total Assets: Current Assets + Fixed Assets
Investments: An investment is an asset or item that is purchased with the hope that it will generate income or appreciate in
the future.
Finance Cost: The Financing Cost (FC), also known as the Cost of Finances (COF), is the cost and interest and other charges
incurred during the year in relation to borrowed money.
Long Term Liabilities: Long-term liabilities are liabilities with a maturity period of over one year.
Current Liabilities: A company's debts or obligations that are due within one year.
Inventory Turnover ratio: Inventory Turnover is a ratio showing how many times a company's inventory is sold and replaced
over a period.
Sales Turnover
𝐼𝑛𝑣𝑒𝑛𝑡𝑜𝑟𝑦 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =
Inventory
Debtors Turnover: Accounts receivable turnover is an efficiency ratio or activity ratio that measures how many times a business
can turn its accounts receivable into cash during a period
Sales Turnover
𝐷𝑒𝑏𝑡𝑜𝑟𝑠 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =
Accounts recievables
Fixed Asset Turnover: The fixed-asset turnover ratio is a financial ratio of net sales to fixed assets
Sales Turnover
𝐹𝑖𝑥𝑒𝑑 𝐴𝑠𝑠𝑒𝑡 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =
Fixed Assets
Current Asset Turnover: The current-asset turnover ratio is a financial ratio of net sales to fixed assets
Sales Turnover
𝐶𝑢𝑟𝑟𝑒𝑛𝑡 𝐴𝑠𝑠𝑒𝑡 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =
Current Assets
Operating Profit Margin: Operating margin is a measurement of what proportion of a Company’s revenue is left over after
paying for variable costs of production such as wages, raw materials etc. It can be calculated by dividing a Company’s operating
income (also known as “operating profit”) during a given period by its sales during the same period.
Operating profit
𝑂𝑝𝑒𝑟𝑎𝑡𝑖𝑛𝑔 𝑃𝑟𝑜𝑓𝑖𝑡 𝑀𝑎𝑟𝑔𝑖𝑛 =
Sales Turnover
Net Profit Margin: Net profit margin is the percentage of revenue left after all expenses have been deducted from sales
Net profit
𝑁𝑒𝑡 𝑃𝑟𝑜𝑓𝑖𝑡 𝑀𝑎𝑟𝑔𝑖𝑛 =
Sales Turnover

Total Sales to Total Assets Ratio: The total sales to total assets ratio measures the ability of a business to generate sales on
assets.
Sales Turnover
𝑇𝑜𝑡𝑎𝑙 𝑆𝑎𝑙𝑒𝑠 𝑡𝑜 𝑇𝑜𝑡𝑎𝑙 𝐴𝑠𝑠𝑒𝑡𝑠 𝑅𝑎𝑡𝑖𝑜 =
Total Assets
Return on Assets: ROA tells you what earnings were generated from invested capital (assets)
Net profit
𝑅𝑒𝑡𝑢𝑟𝑛 𝑜𝑛 𝐴𝑠𝑠𝑒𝑡𝑠 =
Total Assets
Return on equity/net worth: return on equity (ROE) is the amount of net income returned as a percentage of shareholders’
equity.
Net profit
𝑅𝑒𝑡𝑢𝑟𝑛 𝑜𝑛 𝐸𝑞𝑢𝑖𝑡𝑦 =
Net worth
Return on Capital Employed: Return on capital employed (ROCE) is a financial ratio that measures a company's profitability
and the efficiency with which its capital is employed.
Net profit
𝑅𝑒𝑡𝑢𝑟𝑛 𝑜𝑛 𝐶𝑎𝑝𝑖𝑡𝑎𝑙 𝐸𝑚𝑝𝑙𝑜𝑦𝑒𝑑 =
Total Debt + Equity share capital
Current ratio: The current ratio is a financial ratio that measures whether or not a firm has enough resources to pay its debts
over the next 12 months. It compares a firm's current assets to its current liabilities.
Current Assets
𝐶𝑢𝑟𝑟𝑒𝑛𝑡 𝑟𝑎𝑡𝑖𝑜 =
Current Liabilities
Quick ratio: The quick ratio is a measure of how well a Company can meet its short term financial liabilities.
Current Assets − Inventories
𝑄𝑢𝑖𝑐𝑘 𝑟𝑎𝑡𝑖𝑜 =
Current Liabilities
Cash ratio: The ratio of the liquid assets of a Company to its current liabilities.
Current Assets − Inventories − Account Recievables
𝐶𝑎𝑠ℎ 𝑟𝑎𝑡𝑖𝑜 =
Current Liabilities
Working Capital Turnover ratio: The working capital turnover ratio is also referred to as net sales to working capital. It indicates
a Company's effectiveness in using its working capital.
𝑆𝑎𝑙𝑒𝑠 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟
𝑊𝑜𝑟𝑘𝑖𝑛𝑔 𝐶𝑎𝑝𝑖𝑡𝑎𝑙 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟 𝑟𝑎𝑡𝑖𝑜 =
Current Assets − Current Liabilities
Debt to Equity ratio: The debt-to-equity ratio (D/E) is a financial ratio indicating the relative proportion of
shareholders' equity and debt used to finance a company's assets.
𝑆ℎ𝑜𝑟𝑡 𝑇𝑒𝑟𝑚 𝐷𝑒𝑏𝑡 + 𝐿𝑜𝑛𝑔 𝑇𝑒𝑟𝑚 𝐷𝑒𝑏𝑡
𝐷𝑒𝑏𝑡 𝑡𝑜 𝐸𝑞𝑢𝑖𝑡𝑦 𝑟𝑎𝑡𝑖𝑜 =
𝑁𝑒𝑡 𝑊𝑜𝑟𝑡ℎ
Interest Coverage ratio: The Interest coverage ratio is a debt ratio and profitability ratio used to determine how easily a
Company can pay interest on outstanding debt.
𝐸𝑎𝑟𝑛𝑖𝑛𝑔 𝐵𝑒𝑓𝑜𝑟𝑒 𝐼𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝑎𝑛𝑑 𝑇𝑎𝑥
𝐼𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝐶𝑜𝑣𝑒𝑟𝑎𝑔𝑒 𝑅𝑎𝑡𝑖𝑜 =
𝐹𝑖𝑛𝑎𝑛𝑐𝑒 𝐶𝑜𝑠𝑡
Long Term Debt to Total Assets Ratio: The long-term debt to total assets ratio is a measurement representing the percentage
of a corporation's assets financed with loans or other debt obligations lasting more than one year.
𝐿𝑜𝑛𝑔 𝑇𝑒𝑟𝑚 𝐷𝑒𝑏𝑡
𝐿𝑜𝑛𝑔 𝑇𝑒𝑟𝑚 𝐷𝑒𝑏𝑡 𝑡𝑜 𝑇𝑜𝑡𝑎𝑙 𝐴𝑠𝑠𝑒𝑡 𝑅𝑎𝑡𝑖𝑜 =
𝑇𝑜𝑡𝑎𝑙 𝐴𝑠𝑠𝑒𝑡𝑠
Retained Earnings to Total Assets Ratio: The ratio of retained earnings to total assets helps measure the extent to which a
company relies on debt, or leverage.
𝑅𝑒𝑡𝑎𝑖𝑛𝑒𝑑 𝐸𝑎𝑟𝑛𝑖𝑛𝑔𝑠
𝑅𝑒𝑡𝑎𝑖𝑛𝑒𝑑 𝐸𝑎𝑟𝑛𝑖𝑛𝑔𝑠 𝑡𝑜 𝑇𝑜𝑡𝑎𝑙 𝐴𝑠𝑠𝑒𝑡𝑠 𝑅𝑎𝑡𝑖𝑜 =

Total Liabilities to Total Assets Ratio: The liabilities to total assets ratio is a solvency ratio that examines how much of a
company's assets are made of liabilities.
𝑇𝑜𝑡𝑎𝑙 𝐿𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑖𝑒𝑠
𝑇𝑜𝑡𝑎𝑙 𝐿𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑖𝑒𝑠 𝑡𝑜 𝑇𝑜𝑡𝑎𝑙 𝐴𝑠𝑠𝑒𝑡𝑠 𝑅𝑎𝑡𝑖𝑜 =
Market Cap/Sales ratio: Market Cap/sales ratio, Price–sales ratio, P/S ratio, or PSR, is a valuation metric for stocks. It is
calculated by dividing the company's market cap by the revenue in the most recent year; or, equivalently, divide the per-
share stock price by the per-share revenue.
𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝
𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝/𝑆𝑎𝑙𝑒𝑠 𝑟𝑎𝑡𝑖𝑜 =
𝑆𝑎𝑙𝑒𝑠 𝑇𝑢𝑟𝑛𝑜𝑣𝑒𝑟
Market Cap/ Net Worth ratio: It is a valuation ratio calculated by dividing Company’s market cap to net worth.
𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝/𝑁𝑒𝑡𝑤𝑜𝑟𝑡ℎ 𝑟𝑎𝑡𝑖𝑜 =
𝑁𝑒𝑡𝑤𝑜𝑟𝑡ℎ
Market Cap/ PAT ratio: It is a valuation ratio calculated by dividing Company’s market cap to net profit.
𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝/𝑃𝐴𝑇 𝑟𝑎𝑡𝑖𝑜 =
𝑛𝑒𝑡 𝑝𝑟𝑜𝑓𝑖𝑡
Market Cap/ EBITDA ratio: It is a valuation ratio calculated by dividing Company’s market cap to EBITDA.
𝑀𝑎𝑟𝑘𝑒𝑡 𝐶𝑎𝑝/𝐸𝐵𝐼𝑇𝐷𝐴 𝑟𝑎𝑡𝑖𝑜 =
𝐸𝐵𝐼𝑇𝐷𝐴
Trading Volume (shares) (avg. of 1 year): Average number of shares/day traded in 1 year
Trading volume (shares) (high in 1 year): Highest number of shares/day traded in 1 year
Trading volume (shares) (minimum in 1 year): Lowest number of shares traded on any one day in 1 year

DISCLAIMER
Sources Company Information

Only publicly available data has been used while making the factsheet. Our
data sources include: NSE, SEBI, Capitaline, Moneycontrol, Businessweek,
Reuters, Annual Reports, IPO Documents and Company Website.
Analyst Certification
The analysts involved in development of this factsheet certify that no part of SEBI Reg. No. INH000000016
any of the research analyst’s compensation was, is, or will be directly or
indirectly related to the contents of this factsheet. This factsheet or any portion hereof may not
be reprinted, sold, reproduced or
Disclaimer redistributed without the written consent of
Stakeholders Empowerment Services
This Report has been made by SES as a paid service for which consideration has
been paid by NSE.
Contact Information
While SES has made every effort and has exercised due skill, care and diligence
in compiling this factsheet based on publicly available information, it neither Stakeholders Empowerment Services
guarantees its accuracy, completeness or usefulness, nor assumes any liability A 202, Muktangan,
whatsoever for any consequence from its use. This factsheet does not have Upper Govind Nagar,
any approval, express or implied, from any authority, nor is it required to have Malad East,
such approval. The users are strongly advised to exercise due diligence while Mumbai – 400 097
Tel +91 22 4022 0322
using this factsheet.
This factsheet in no manner constitutes an offer, solicitation or advice to buy or research@sesgovernance.com

sell securities, nor solicits votes or proxies on behalf of any party. SES, which is info@sesgovernance.com
a not-for-profit Initiative or its staff, has no financial interest in the companies
www.sesgovernance.com
covered in this factsheet except what is disclosed on its website. The factsheet
is released in India and SES has ensured that it is in accordance with Indian Research Analyst: Mukesh Solanki
laws. Person resident outside India shall ensure that laws in their country are
not violated while using this factsheet; SES shall not be responsible for any
such violation.
All disputes subject to jurisdiction of High Court of Bombay, Mumbai.

Simbhaoli Sugars LTD.: Stakeholders Empowerment Services

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Simbhaoli Sugars LTD.: Stakeholders Empowerment Services

Uploaded by

Copyright:

Available Formats

STAKEHOLDERS EMPOWERMENT SERVICES SIMBHAOLI SUGARS LTD.

SECTOR: SUGAR REPORTING DATE: 23RD FEBRUARY, 2019