Dalmia Bharat Sugar & Industries

What Dalmia Bharat Sugar & Industries does

Dalmia Bharat Sugar and Industries Limited is a publicly listed Indian integrated sugar manufacturer (BSE: 500097, NSE: DALMIASUG) operating five sugar plants — three in Uttar Pradesh (Ramgarh, Nigohi, Jawaharpur) and two in Maharashtra (Kolhapur/Shri Datta, Sangli/Ninaidevi) — with a total cane crushing capacity of 35,500 TCD and annual sugar production capacity of 700,000 MT. The company sells refined and double sulphitation plantation white sugar to institutional FMCG and beverage buyers (Coca-Cola, PepsiCo, Mondelez, Britannia, Dabur, Perfetti, Walmart India, D-Mart), packaged consumer sugar under the Dalmia Utsav brand, and supplies sugar to the Indian Army commissariat.

The business is structured around a vertically integrated sugarcane value chain: sugar milling is paired with 118 MW of bagasse-based cogeneration (with ~70% exported to state DISCOMs under long-term PPAs), a 16.5 MW wind farm in Tamil Nadu, 255 KLPD of distillery capacity producing rectified spirit, extra neutral alcohol (ENA), anhydrous ethanol, and denatured spirit, plus 20,000 MT of bio-compost capacity from press mud. Ethanol is sold under annual tenders to Indian Oil, Bharat Petroleum, and Hindustan Petroleum under India's E20 blending programme. Ancillary lines include Dalmia Magnesite Corporation's refractory products in Salem and a Bangalore-based monolithic chip capacitor unit. Total FY26 revenue was Rs 3,618 crore (~US$430M), with consolidated net profit of Rs 235–236 crore.

Revenue is generated across five streams: bulk sugar sales (one-time transactional), cogenerated power sales (long-term PPA tariff), ethanol (annual OMC tender pricing), wind power (Tamil Nadu grid tariff), and branded/retail packaged sugar (Dalmia Utsav). Pricing is largely administered — sugarcane at government MSP, ethanol at OMC-fixed procurement prices, and power at state DISCOM PPA rates — exposing the business to policy and commodity cycle risk. The company recently completed a demerger of its refractory business (October 2025) and announced a US$132 million greenfield integrated sugar project in Tanzania (July 2026) through subsidiary Eagle Agrotech Tanzania Limited, including 10,000 hectares of sugarcane plantation and 20 MW cogeneration.

Name

Dalmia Bharat Sugar & Industries

Legal name

Dalmia Bharat Sugar and Industries Limited

Website

http://www.dalmiasugar.com

Company type

Public

Founded year

1994

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Dalmia Bharat Sugar and Industries is a publicly listed Indian integrated sugar producer operating five plants in UP and Maharashtra with 35,500 TCD capacity, supplying bulk and packaged sugar to FMCG majors, ethanol to OMCs, and renewable power to state grids.

Ownership category

akta.pro rank

Product category

Sugar Manufacturing

NAICS

Cane Sugar Manufacturing (311314), Sugar Manufacturing (31131), Sugarcane Farming (11193)

SIC

Beverages (2080)

akta.pro primary industry

Cane Sugar (Raw & Refined) (AFAJAAAA)

akta.pro secondary industry

Sugar & Starch Crop Contract Growing & Plantation Operations (AFAGAEAL)

Keywords

• Industrial sugar manufacturing
• Ethanol distillation production
• Bagasse cogeneration power
• Organic manure biocompost
• Refractory magnesia products

Headquarters

HQ city

New Delhi

HQ country

India

HQ region

Asia

Offices10 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Sugar Manufacturing & Sales: Production and sale of plantation white cane sugar in various grades (M-grade, L-grade, S-grade), refined sulphurless sugar, and double sulphitation sugars. Revenue is derived from institutional bulk sales to FMCG and beverage companies as well as wholesale distribution across North and East India. The company also exports raw and packaged sugar to Indonesia, Malaysia, Bangladesh, Sri Lanka, Nepal, Bhutan, Middle East, Mediterranean countries, and East Africa.
2. Power Cogeneration: Bagasse-based co-generation plants with 118 MW installed capacity across all sugar mill locations. Roughly 30% of power is consumed internally at manufacturing units, and approximately 70% is exported to state electricity distribution companies (DISCOMs) in Uttar Pradesh and Maharashtra under long-term power purchase agreements.
3. Ethanol & Distillery: Production and sale of ethanol to Oil Marketing Companies (Indian Oil Corporation, Bharat Petroleum, Hindustan Petroleum) under annual tender systems, supporting India's Ethanol Blending Programme (E20 target). Also produces rectified spirit, extra neutral alcohol (ENA), and denatured spirit for industrial and cosmetic customers.
4. Wind Power: 16.5 MW wind farm capacity in Tamil Nadu generating power sold to the Tamil Nadu electricity grid under renewable purchase obligations.
5. Organic Manure / Bio-compost: Press mud from sugar manufacturing converted to bio-compost sold to farmers and tea estates. Annual production capacity of approximately 20,000 MT.
6. Consumer Packaged Sugar (Dalmia Utsav Brand): Branded packaged sugar (Sulphur Free White Crystal Sugar and Natural Brown Sugar) sold under the Dalmia Utsav brand through retail distribution.

Go-to-market motion1 record

Distribution channels7 records

Marketing channels10 records

Core offering

Dalmia Bharat Sugar and Industries Limited is an integrated sugar manufacturer operating five plants with 35,500 TCD cane crushing capacity and 700,000 MT annual sugar output. It also produces 118 MW bagasse-based co-generation power, 255 KLPD ethanol (for India's E20 blending programme), 16.5 MW wind power, and organic manure from press mud. The company sells under the Dalmia Utsav consumer brand and operates a magnesia refractories division and an electronics division.

Product overview

Dalmia Bharat Sugar and Industries Limited is a fully integrated sugar manufacturing company operating five production units (three in Uttar Pradesh at Ramgarh, Jawaharpur, Nigohi and two in Maharashtra at Kolhapur, Ninaidevi) with 35,500 TCD cane crushing capacity and 700,000 MT annual sugar production. The company operates a diversified business model combining core sugar production with co-generated power (118 MW bagasse-based plus 16.5 MW wind), distillery operations (255 KLPD ethanol capacity), and specialty products including refractories and electronic components. Consumer-facing products include Dalmia Utsav branded packaged sugars and Dalmia Sanjeevani hand sanitiser. By-products include organic manure from press mud. The portfolio integrates sugar manufacturing with energy co-generation, ethanol production for India's fuel blending programme, and specialty industrial products.

Differentiator

Problem solved

Functional benefit

Brands

• Dalmia Utsav: Brand name for packaged consumer sugar products including Sulphur Free White Crystal Sugar and Natural Brown Sugar sold in branded packets and sachets.
• Dalmia Sanjeevani

Products and services

• Sugar Plantation white cane sugar produced at five integrated manufacturing facilities with 35,500 TCD cane crushing capacity and 700,000 MT annual sugar production capacity. Produces Refined Sugar (Sulphurless), Double Sulphitation Sugars in M-grade, L-grade, and S-grade variants. Approved supplier to major FMCG companies including Coca-Cola, PepsiCo, Mondelez, Perfetti, Britannia, and Wal-Mart India.
• Dalmia Utsav (Branded Packaged Sugar) Consumer-facing packaged sugar brand signifying 'Celebrating Purity'. Includes Sulphur Free White Crystal Sugar and Natural Brown Sugar sold in branded packets and sachets. Produced at the Nigohi Unit featuring Ion Exchange Facility and state-of-the-art integrated production line for specialized sugar.
• Power Business (Bagasse Cogeneration & Wind Power) Bagasse-based co-generation power with 118 MW installed capacity across all sugar mill locations producing 100% sustainable green power. Nearly 30% consumed captively with remainder exported to state electricity grids under long-term power purchase agreements. Also operates 16.525 MW wind farms at Muppandal and T. Karungulam in Tamil Nadu with 53 wind mills.
• Ethanol & Distillery Products Distillery products including Rectified Spirit (95% ABV), Extra Neutral Alcohol (ENA/Hydrous Alcohol for cosmetics and IMFL), Anhydrous/Fuel Grade Ethanol for petrol blending, and Denatured Spirit (SDS) for industrial solvents. Ethanol capacity of 240 KLPD (255 KLPD including incineration boilers). Multi-product distilleries producing both molasses-based and grain-based ethanol.
• Organic Manure (Bio-compost) Bio-compost produced from press mud (filter-cake) sourced from own sugar factories. Annual production capacity of approximately 20,000 MT. Sold to farmers and tea estates under the trade name Dalmia Sanjeevani.
• Dalmia Sanjeevani Hand Sanitiser Alcohol-based hand sanitiser manufactured during the COVID-19 pandemic using WHO-recommended formulation containing 80% ethyl alcohol. Produced at distillery units in Sitapur, Shahjahanpur, and Kolhapur.
• Magnesite Refractory Products 92% MgO dead burned magnesite, magnesia-carbon bricks for steel plants, and high performance-low cement alumina castables. Products cater to Steel Industry, Cement Industry, Concrete Repair, and Non-Shrink Grout sectors. Produced at the Salem (Tamil Nadu) facility.
• Electronic Capacitors (Monolithic Chip Capacitors) Monolithic chip capacitors with capacity of 120 million capacitors per year. Capacitance range 0.5 picofarad to 1 microfarad and voltage range 25 to 500 volts DC. Adapted for high-speed automated assembly. Manufactured at the Bangalore (Hosur Road) facility in collaboration with Nova Cap USA.

Quantifiable outcome

• Cane yield increased from around 400 quintals per hectare to 500 quintals per hectare through Project Unnati, achieving over 10% recovery improvement
• +4 more outcomes

Named customers16 records

Segments6 records

Ideal customer profiles8 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered strategic expansion and core.

• Eagle Agrotech Tanzania Limitedstrategic expansionOthers · 14 July 2026Dalmia Bharat Sugar approved an integrated sugar project in Tanzania through subsidiary Eagle Agrotech Tanzania Limited. The project involves investment of US$132 million, sugarcane plantation over 10,000 hectares (expandable to 20,000 hectares), a manufacturing unit with initial capacity of 70,000 MT per annum, and a 20 MW cogeneration facility scalable to 40 MW. The company aims to capitalize on regional sugar deficit and diversify into bio-energy markets.
• Oil Marketing Companies (Indian Oil, Bharat Petroleum, Hindustan Petroleum)coreStrategic or Co-development PartnerLong-term ethanol procurement partnerships with India's three major state-owned oil marketing companies. Supported by oil marketing companies offering long-term ethanol procurement, enabling sustained ethanol revenue. These partnerships are central to India's Ethanol Blending Programme and provide revenue visibility for Dalmia Bharat Sugar's distillery operations.
• NABARDcoreStrategic or Co-development PartnerPartnership with NABARD (National Bank for Agriculture and Rural Development) to promote water conservation and skill-based training programmes under CSR initiatives. NABARD collaboration supports sustainable agriculture and rural development projects near Dalmia Bharat Sugar manufacturing locations.
• Spray Engineering Devices Ltd. (SEDL)coreTechnology or IntegrationSEDL has deployed its LTE® water recovery system at Dalmia Bharat distilleries as part of biomass-to-ethanol innovation. SEDL's clean-tech engineering technologies including electricity-driven gasification systems converting agricultural residues like sugarcane bagasse into ethanol and Sustainable Aviation Fuel have been showcased using Dalmia Bharat distillery operations as reference implementations.
• Dalmia Institute of Scientific and Industrial ResearchTechnology or IntegrationTechnical collaboration with Dalmia Institute supporting refractory product development at Dalmia Magnesite Corporation, including dry rapid hardening cement material conforming to ASTM-C-928 and non-shrink grout conforming to ASTM-C-1107.

Scale indicators11 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Tereos: Global sugar, ethanol, and starch cooperative with operations across Europe, Brazil, and Africa—comparable as a large, geographically diversified sugar-ethanol platform and a useful reference for Dalmia's Tanzania foray.
• Südzucker: Europe's largest sugar producer with ethanol and bioenergy operations, providing a global benchmark for integrated sugar-ethanol-power economics and regulatory exposure to ethanol policies.

Direct peers

• Bajaj Hindusthan Sugar: Largest Indian sugar producer by capacity with extensive UP operations, overlapping with Dalmia in sugar, ethanol, and power, and competing for the same cane supply and ethanol tenders.
• Uttam Sugar Mills: Indian sugar and ethanol producer with UP operations, overlapping in ethanol supply to OMCs and benefiting from the same E20 mandate dynamics.
• DCM Shriram: Indian diversified agribusiness with sugar, ethanol, chemicals, and fertilizer operations, comparable in integrated sugar-ethanol model and exposure to Indian agricultural commodity cycles.
• Dhampur Sugar Mills: UP-based integrated sugar, ethanol, and cogeneration producer operating in the same command areas as Dalmia, with similar product portfolio and reliance on government-administered pricing.
• Shree Renuka Sugars: Indian sugar producer with refining, cogeneration, and ethanol operations; comparable in vertical integration and overlap with FMCG/alcohol customers, with additional international (Brazil) milling exposure.
• Triveni Engineering & Industries: Indian integrated sugar and ethanol manufacturer with UP-based operations, sharing Dalmia's sugar-cogeneration-distillery model and exposure to ethanol blending demand.
• Balrampur Chini Mills: One of India's largest integrated sugar producers with significant distillery and cogeneration operations, directly comparable in scale, product mix, and exposure to the UP sugar belt and ethanol blending programme.
• EID Parry (India): Sugar and ethanol manufacturer with South India operations and a Murugappa Group affiliation, comparable in distillery and cogeneration model but with regional rather than UP/Maharashtra footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/dalmia_dbsil
• YouTubeyoutube.com/channel/UCjS1bLMwkyJiX2SxVryA73Q
• Facebookfacebook.com/Dalmia-Bharat-Sugar-and-Industries-Ltd-105052718444125
• LinkedInlinkedin.com/showcase/dalmia-bharat-sugar-industries-limited

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dalmia Bharat Sugar & Industries