Adam Sugar Mills Limited (ADAMS) financial ratios

Adam Sugar Mills Limited earned a net margin of 0.4% in FY2025 against a five-year average of 2.6% (Sugar & Allied Industries median 0.6%). Return on equity was 0.9%, compared with a sector median of 2.0%. The current ratio stood at 1.08× and debt was 28.9% of equity. Cash took about 74 days to cycle through receivables, inventory and payables.

FY2025 vs the Sugar & Allied Industries median

Gross margin: 6.6%; Sector median 9.9%
Operating margin: 4.2%; Sector median 6.4%
Net margin: 0.4%; Sector median 0.6%
Return on equity (ROE): 0.9%; Sector median 2.0%
Return on assets (ROA): 0.5%; Sector median 0.6%
Current ratio: 1.08×; Sector median 0.93×
Debt to equity: 28.9%; Sector median 60.7%
Asset turnover: 1.14×; Sector median 1.01×
Dividend payout ratio: 56.2%; Sector median 0.0%

Median of the 28 companies in the sector with the figure for their latest fiscal year.

ADAMS financial ratios (annual) (Rs mn)
Rs mn	FY2025 Oct 2024 – Sep 2025	FY2024 * Oct 2023 – Sep 2024	FY2023 Oct 2022 – Sep 2023	FY2022 * Oct 2021 – Sep 2022	FY2021 Oct 2020 – Sep 2021	FY2020 Oct 2019 – Sep 2020	FY2019 Oct 2018 – Sep 2019	FY2018 Oct 2017 – Sep 2018	FY2017 Oct 2016 – Sep 2017	FY2016 Oct 2015 – Sep 2016	FY2015 Oct 2014 – Sep 2015	FY2014 Oct 2013 – Sep 2014	FY2013 Oct 2012 – Sep 2013	FY2012 Oct 2011 – Sep 2012
Profitability
Gross margin	6.6%	11.5%	11.8%	13.1%	14.2%	19.9%	0.8%	2.7%	3.2%	9.5%	(5.7%)	5.1%	14.7%	11.0%
EBITDA margin	6.8%	12.3%	12.8%	14.1%	17.9%	24.0%	1.0%	0.8%	2.9%	9.4%	(5.4%)	5.5%	14.8%	10.6%
Operating margin	4.2%	8.8%	7.8%	9.9%	10.2%	17.6%	(2.8%)	(1.1%)	(0.6%)	7.5%	(8.0%)	3.2%	11.5%	7.6%
Pre-tax margin	0.8%	1.3%	2.4%	6.0%	6.1%	11.7%	(13.6%)	(0.1%)	(0.3%)	5.2%	(3.4%)	(1.9%)	6.4%	4.0%
Net margin	0.4%	0.7%	2.2%	2.9%	6.8%	9.0%	(11.0%)	(0.8%)	(0.2%)	3.8%	(2.9%)	1.0%	4.1%	2.8%
Effective tax rate	48.3%	49.1%	11.0%	51.0%	(11.9%)	23.4%	—	—	—	26.1%	—	—	36.7%	31.2%
Returns
Return on equity (ROE)	0.9%	1.0%	2.5%	4.0%	5.2%	9.2%	(11.4%)	(2.7%)	(0.3%)	10.8%	(6.3%)	3.3%	13.0%	—
Return on assets (ROA)	0.5%	0.6%	1.5%	2.4%	3.3%	5.2%	(5.0%)	(0.8%)	(0.1%)	5.2%	(2.3%)	0.9%	2.7%	—
Return on invested capital (ROIC)	2.6%	4.6%	6.2%	4.7%	6.6%	9.9%	—	—	—	8.8%	—	—	7.6%	—
Liquidity
Current ratio	1.08×	1.04×	1.12×	0.93×	0.95×	0.75×	0.63×	0.87×	0.92×	0.84×	0.91×	1.01×	1.06×	1.10×
Quick ratio	0.55×	0.18×	0.12×	0.25×	0.65×	0.49×	0.13×	0.24×	0.19×	0.59×	0.31×	0.28×	0.14×	0.17×
Leverage
Debt to equity	28.9%	58.1%	20.0%	30.0%	27.5%	21.8%	45.2%	145.8%	149.5%	54.8%	94.7%	144.8%	248.6%	155.3%
Debt to capital	22.5%	36.7%	16.6%	23.1%	21.6%	17.9%	31.1%	59.3%	59.9%	35.4%	48.6%	59.2%	71.3%	60.8%
Debt to assets	17.3%	29.0%	12.4%	17.5%	17.5%	13.5%	23.3%	43.9%	42.4%	29.4%	40.7%	48.5%	47.6%	36.5%
Assets to equity	1.84×	1.80×	1.65×	1.65×	1.59×	1.77×	2.29×	3.42×	2.67×	2.08×	2.67×	3.82×	4.77×	—
Efficiency
Asset turnover	1.14×	0.83×	0.69×	0.84×	0.48×	0.58×	0.46×	0.96×	0.58×	1.35×	0.82×	0.90×	0.67×	—
Receivable days days	21	14	15	25	57	33	51	43	85	40	46	29	26	—
Inventory days days	78	139	129	67	53	88	195	167	223	58	148	199	321	—
Payable days days	26	49	71	44	65	81	124	94	135	32	47	74	162	—
Cash conversion cycle days	74	104	72	48	44	40	121	116	173	65	147	154	184	—
Dividends
Dividend payout ratio	56.2%	111.6%	58.9%	21.8%	35.3%	0.0%	—	—	—	0.0%	—	0.0%	9.3%	18.4%
Earnings retention rate	0.44×	(0.12×)	0.41×	0.78×	0.65×	1.00×	—	—	—	1.00×	—	1.00×	0.91×	0.82×

Ratios as reported for each fiscal year; returns are on average equity / assets. Debt ratios are percentages; turnover in times; working-capital measures in days.

ADAMS: frequently asked questions

What is ADAMS's EPS?

Adam Sugar Mills Limited reported basic earnings per share of Rs 2.67 for FY2025 (Oct 2024 – Sep 2025). Over the trailing twelve months (TTM to Jun 2026) EPS was Rs -5.93.

Does ADAMS pay dividends?

Yes. Adam Sugar Mills Limited declared a dividend of Rs 4.00 per share for FY2025. It has paid a dividend in each of the last 6 years. At Rs 67.20 that is a dividend yield of 6.0%.

What was ADAMS's revenue and profit in FY2025?

Adam Sugar Mills Limited reported revenue of Rs 10.8 bn and profit attributable to shareholders of Rs 46.1 mn for FY2025 (Oct 2024 – Sep 2025).

What is ADAMS's book value per share?

Adam Sugar Mills Limited's book value per share was Rs 294.81 at the end of FY2025. The shares trade at 0.19× book value.

Information only, not investment advice.