DHAMPUR BIO ORGANICS

DBOL research report (Mid-Term Target):

Company Overview:

Dhampur Bio Organics Ltd. is an India-based integrated sugarcane processing company. The
Company is primarily engaged in the manufacturing of sugar, chemicals, ethanol, co-generation
of power and other allied products. Its segments include Sugar, Bio Fuels & Spirits and Country
Liquor. Its Sugar segment is engaged in the manufacture and sale of refined sugar (packed and
branded), white sugar, retail sugar and its byproducts, along with co-generation and sale of power.
The Bio Fuels & Spirits segment is engaged in the sale of industrial alcohol which mainly
constitutes ethanol sold under contracts with public and private oil marketing companies (OMCs)
and other products to institutional buyers. Its Country Liquor segment is engaged in the sale of
country liquor to state consumers. It has three manufacturing units located at Asmoli, Sambhal
District; Mansurpur, Muzaffarnagar District, and Meerganj, Bareilly District in Uttar Pradesh. Its
subsidiary is Dhampur International PTE Ltd.

Dhampur Bio Organics Ltd, a leading player in the bio-organic industry, presents a compelling
case for medium-term investment, backed by several key factors:
1. Robust Financial Performance:

Dhampur Bio Organics has consistently demonstrated strong financial performance. The
company's historical financials showcase stable revenue growth, sound profitability, and efficient
cost management, instilling confidence in investors about its financial resilience.

2. Industry Growth and Positioning:

Positioned in the thriving bio-organic sector, Dhampur Bio Organics benefits from the increasing
consumer demand for sustainable and organic products. The company's strategic positioning
within this growing industry aligns with broader market trends, providing a favorable backdrop
for sustained growth.

3. Diversified Product Portfolio:

The company boasts a diversified portfolio of bio-organic products, catering to various industries.
This diversification not only mitigates risks associated with dependency on a single product but
also positions Dhampur Bio Organics to capitalize on emerging market opportunities across
multiple segments.

4. Sustainable Practices and ESG Commitment:

Dhampur Bio Organics is committed to sustainable business practices and environmental, social,
and governance (ESG) principles. As investors increasingly focus on companies with a strong ESG
profile, Dhampur's commitment to sustainability enhances its appeal for those seeking
responsible investments.
5. Technological Advancements:

The company continually invests in technology and innovation, ensuring that its operations
remain efficient and aligned with the latest industry standards. This commitment to staying
technologically relevant enhances Dhampur's competitiveness and positions it for long-term
success.

6. Favorable Market Conditions:

Factors such as government initiatives promoting organic farming, increasing awareness of

health-conscious consumer choices, and a rising global focus on eco-friendly products contribute
to a favorable market environment for Dhampur Bio Organics. These conditions support the
company's growth trajectory.

7. Dividend History:

For investors seeking income along with capital appreciation, Dhampur Bio Organics' consistent
dividend payout history adds an extra layer of attractiveness. The company's ability to generate
surplus cash and reward shareholders through dividends signals a healthy financial position.

8. Potential for Capital Appreciation:

With a combination of sound financials, strategic positioning, and a commitment to sustainability,

Dhampur Bio Organics holds the potential for capital appreciation. As market dynamics and
consumer preferences evolve, the company's proactive approach positions it to capture emerging
opportunities.
Technology analysis：

With the government's ban on ethanol from sugar mills, sugar stocks are expected to perform in
early January 2024. Therefore, in order to plan for Christmas and New Year's potential stocks in
advance, DBOL, whose main business is candy and other agricultural products, entered our
From a technical perspective, the stock has retreated from its previous high of around 229 points
to stabilize around 145 points. In the short term, there is upward demand. From the perspective
of the medium-term holding target, the stock has considerable room for growth in the future. .

Goal: 190

Support: 145

As for the buying price, we can intervene if it is controlled below 158 points.

In conclusion, Dhampur Bio Organics Ltd emerges as a strong candidate for

medium-term holding, offering a balanced mix of financial stability, industry
growth potential, and a commitment to sustainable business practices. Investors
looking for exposure to the bio-organic sector with a focus on long-term value
creation may find Dhampur Bio Organics a compelling addition to their portfolios.