Key Metrics of Nsl Sugars Limited
About Nsl Sugars Limited
Sectors
Company details
Operational Areas of Nsl Sugars Limited
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
WatchLiquidity assessed as Poor
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 29 May 2026 | ICRA | Reaffirmed | D | — | — | ₹184 Cr | View |
Credit strengths (ICRA, May 2026)
+ Strong promoter support
The company continues to be rely heavily on the financial support from promoter/group entities, reflected in the substantial funding through ICDs, CCDs and OCDs, which constitute a bulk of its debt.
+ Forward-integrated operations
NSL’s sugar operations, with a capacity of 25,500 TCD, are forward integrated with 90-MW co-generation and 310-KLPD distillery capacities.
Credit challenges
− Delays in debt servicing
ICRA notes that there have been continued delays in the servicing of external debt obligations, with principal repayments being delayed by around 30–45 days, although the interest payments are being serviced relatively on time.
− Co-generation unit exposed to demand and tariff risk
The company’s co-generation operations remain exposed to demand and tariff risks, given the regulated nature of power tariffs and the dependence on state utilities.
− Profitability vulnerable to agro-climatic and regulatory risks
The profitability of the sugar mills remains exposed to the cyclicality of the sugar industry, agro-climatic risks related to cane production and Government policies on sugar trade.
Could lead to an upgrade
The rating may be upgraded if the company services the debt obligations in a timely manner on a sustained basis.
Agency-reported financials (ICRA, 29 May 2026)
| Metric | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Operating income | ₹1,140 Cr | ₹1,020 Cr | ₹1,111 Cr |
| PAT | ₹-80.10 Cr | ₹-26.10 Cr | ₹-,155.30 Cr |
| OPBDIT/OI | 4.7% | 6.2% | 6.4% |
| PAT/OI | -7.0% | -2.6% | -14.0% |
| Total outside liabilities/Tangible net worth (times) | -23.00× | -17.80× | -8.30× |
| Total debt/OPBDIT (times) | 23.20× | 21.50× | 22.20× |
| Interest coverage (times) | 0.50× | 0.40× | 0.40× |
| Revenue growth (YoY) | — | −10.5% | 9.0% |
| EBITDA (margin × income) | ₹53.58 Cr | ₹63.25 Cr | ₹71.13 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹1,243 Cr | ₹1,360 Cr | ₹1,579 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹107 Cr | ₹158 Cr | ₹178 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long term fund based – Term loan | Term loans | ₹184 Cr | ₹184 Cr | 0.0% | D | Reaffirmed | ICRA |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | In default (CARE D) |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 20% |
| Information on file | 44% · missing: Liquidity position, Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 20% chance the next rating action is stable or better
- Current rating D (below investment grade)
- Interest coverage 0.4×
Rated limits by facility
Timeline
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Nsl Sugars Limited
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
| Rana Sugars Limited | Discovered Companies · Other Industries | — | — | Chandigarh, India |
 Shree Renuka Sugars |
Discovered Companies · Other Industries | renukasugars.com | 1998 | Belagavi, India |
| Bajaj Hindusthan Sugar Limited | Discovered Companies · Other Industries | — | — | Golagokaranath, Uttar Pradesh, India |
| Dhampur Sugar Mills Limited | Discovered Companies · Other Industries | — | — | Dhampur, Uttar Pradesh, India |
| Dalmia Bharat Sugar And Industries Limited | Discovered Companies · Other Industries | — | — | Tiruchirappalli, Tamil Nadu, India |
| Avadh Sugar & Energy Limited | · Manufacturing (Food stuffs) | — | — | Sitapur, Uttar Pradesh, India |
| Bannari Amman Sugars Limited | Discovered Companies · Other Industries | — | — | Coimbatore, Tamil Nadu, India |
| The Andhra Sugars Limited | Discovered Companies · Other Industries | — | — | Tanuku, Andhra Pradesh, India |
| Uttam Sugar Mills Limited | Discovered Companies · Other Industries | — | — | Roorkee, Uttarakhand, India |
| Dwarikesh Sugar Industries Limited | Discovered Companies · Other Industries | — | — | Bijnore, Uttar Pradesh, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.