TSML Tandlianwala Sugar Mills Limited

Tandlianwala Sugar Mills Limited (TSML) financial ratios

Tandlianwala Sugar Mills Limited earned a net margin of 1.8% in FY2025 against a five-year average of 2.5% (Sugar & Allied Industries median 0.6%). Return on equity was 5.0%, compared with a sector median of 2.0%. The current ratio stood at 1.07× and debt was 125.7% of equity. Cash took about 126 days to cycle through receivables, inventory and payables.

FY2025 vs the Sugar & Allied Industries median

Gross margin: 14.9%; Sector median 9.9%
Operating margin: 11.6%; Sector median 6.4%
Net margin: 1.8%; Sector median 0.6%
Return on equity (ROE): 5.0%; Sector median 2.0%
Return on assets (ROA): 1.7%; Sector median 0.6%
Current ratio: 1.07×; Sector median 0.93×
Debt to equity: 125.7%; Sector median 60.7%
Asset turnover: 0.99×; Sector median 1.01×
Dividend payout ratio: 0.0%; Sector median 0.0%

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

TSML 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	FY2011 Oct 2010 – Sep 2011	FY2010 Oct 2009 – Sep 2010	FY2009 Oct 2008 – Sep 2009	FY2008 Oct 2007 – Sep 2008	FY2007 Oct 2006 – Sep 2007	FY2006 Oct 2005 – Sep 2006
Profitability
Gross margin	14.9%	16.0%	13.4%	11.7%	11.5%	8.7%	15.2%	16.3%	15.4%	12.9%	13.4%	11.0%	7.0%	10.4%	18.5%	13.5%	18.2%	21.9%	23.5%	12.8%
EBITDA margin	15.1%	16.3%	12.1%	10.6%	11.5%	8.5%	14.5%	14.6%	13.6%	12.6%	12.9%	10.6%	5.5%	1.8%	17.6%	13.3%	16.2%	20.8%	23.6%	11.6%
Operating margin	11.6%	14.2%	10.3%	8.1%	8.4%	4.7%	11.5%	10.6%	9.4%	9.6%	9.7%	7.4%	2.8%	(1.6%)	14.0%	10.4%	14.0%	15.5%	18.2%	9.4%
Pre-tax margin	2.0%	4.8%	5.1%	3.1%	3.8%	0.1%	6.2%	4.8%	3.3%	5.0%	3.5%	0.6%	(2.3%)	(1.6%)	6.7%	5.7%	2.1%	(5.9%)	1.1%	2.4%
Net margin	1.8%	2.8%	3.6%	1.6%	2.6%	(1.3%)	5.3%	4.6%	3.4%	4.8%	3.6%	1.9%	(3.1%)	0.7%	6.4%	3.2%	0.7%	(9.3%)	0.2%	1.2%
Effective tax rate	11.1%	40.9%	29.8%	47.6%	31.1%	2,674.9%	13.9%	4.9%	(2.1%)	3.8%	(1.3%)	(204.4%)	—	—	4.4%	43.1%	69.6%	—	83.4%	48.8%
Returns
Return on equity (ROE)	5.0%	8.2%	12.8%	4.8%	7.0%	(2.8%)	17.1%	12.3%	7.9%	16.9%	12.7%	5.6%	(9.2%)	2.0%	23.1%	19.0%	2.4%	(13.4%)	0.3%	3.3%
Return on assets (ROA)	1.7%	3.0%	4.8%	1.7%	2.8%	(1.2%)	5.5%	2.9%	2.2%	5.4%	3.5%	1.7%	(3.4%)	0.6%	6.3%	4.5%	0.4%	(2.7%)	0.1%	0.8%
Return on invested capital (ROIC)	12.0%	11.7%	14.4%	6.0%	7.3%	(139.8%)	13.9%	9.0%	8.3%	13.2%	12.6%	27.8%	—	—	31.2%	19.6%	8.2%	—	2.2%	0.9%
Liquidity
Current ratio	1.07×	1.01×	0.91×	0.83×	0.77×	0.66×	0.68×	0.72×	0.77×	0.66×	0.66×	0.72×	0.69×	0.90×	0.78×	0.46×	0.96×	1.01×	0.99×	1.00×
Quick ratio	0.49×	0.44×	0.51×	0.36×	0.27×	0.33×	0.31×	0.14×	0.13×	0.16×	0.14×	0.16×	0.22×	0.14×	0.10×	0.06×	0.10×	0.08×	0.29×	0.88×
Leverage
Debt to equity	125.7%	137.9%	75.5%	105.7%	110.8%	97.1%	91.9%	188.0%	228.0%	119.0%	171.4%	186.1%	88.6%	113.2%	155.4%	102.9%	218.7%	285.0%	239.7%	324.5%
Debt to capital	55.7%	58.0%	43.0%	51.4%	52.6%	49.3%	47.9%	65.3%	69.5%	54.3%	63.2%	65.0%	47.0%	53.1%	60.8%	50.7%	68.6%	74.0%	70.6%	76.4%
Debt to assets	45.1%	45.5%	30.9%	36.7%	42.6%	40.9%	39.0%	44.7%	54.5%	42.1%	49.1%	50.0%	32.9%	41.9%	40.3%	30.2%	41.2%	49.5%	57.8%	67.8%
Assets to equity	2.91×	2.75×	2.65×	2.75×	2.49×	2.37×	3.12×	4.19×	3.53×	3.13×	3.60×	3.21×	2.70×	3.14×	3.66×	4.27×	5.53×	4.90×	4.40×	4.00×
Efficiency
Asset turnover	0.99×	1.06×	1.35×	1.09×	1.07×	0.91×	1.03×	0.64×	0.66×	1.12×	0.99×	0.92×	1.09×	0.85×	0.99×	1.38×	0.68×	0.29×	0.33×	0.69×
Receivable days days	7	9	6	6	9	17	12	15	15	10	9	6	4	4	4	1	2	6	5	2
Inventory days days	155	125	81	107	83	71	117	257	211	95	125	124	101	161	113	69	218	537	288	29
Payable days days	36	16	16	29	35	39	33	50	45	32	54	69	43	32	39	18	26	96	—	—
Cash conversion cycle days	126	118	71	83	56	49	97	222	181	73	80	61	62	133	78	52	194	446	293	31
Dividends
Dividend payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	—	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—	0.0%	0.0%	0.0%	0.0%	—	0.0%	0.0%
Earnings retention rate	1.00×	1.00×	1.00×	1.00×	1.00×	—	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	—	1.00×	1.00×	1.00×	1.00×	—	1.00×	1.00×

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.

TSML: frequently asked questions

What is TSML's EPS?

Tandlianwala Sugar Mills Limited reported basic earnings per share of Rs 6.03 for FY2025 (Oct 2024 – Sep 2025).

What is TSML's P/E ratio?

At the closing price of Rs 457.80 on 16 Oct 2026, TSML trades at a P/E of 75.9× based on EPS of Rs 6.03 (FY2025).

Does TSML pay dividends?

Tandlianwala Sugar Mills Limited did not declare a cash dividend for FY2025.

What was TSML's revenue and profit in FY2025?

Tandlianwala Sugar Mills Limited reported revenue of Rs 40.5 bn and profit attributable to shareholders of Rs 709.7 mn for FY2025 (Oct 2024 – Sep 2025).

What is TSML's book value per share?

Tandlianwala Sugar Mills Limited's book value per share was Rs 123.03 at the end of FY2025. The shares trade at 3.72× book value.

Information only, not investment advice.