₹7,218 crore of revenue reported in the latest year (mostly FY25) by the 25 of Maharashtra's 356 sugar mills with accounts on file. The ten largest produce 79% of it; the typical filer earns ₹211 crore.
Active companies
356
sugar mills on the register
Reported revenue
₹7,218 crore
25 companies with accounts
Profitable
71%
of filers · India 62%
Secured loans
31.5%
of companies have one on record
What stands out about Maharashtra's sugar mills
01
Revenue
₹7,218 crore
of revenue reported in the latest year (mostly FY25) by the 25 of Maharashtra's 356 sugar mills with accounts on file. The ten largest produce 79% of it; the typical filer earns ₹211 crore.
02
Profitability
71%
of filers reported a profit (India, same segment: 62%); the median net margin is 1.0% against 1.0% nationally.
03
Growth
−1%
median revenue growth across 25 companies with two consecutive years on file (India: −0%); 2 grew by more than half and 14 shrank. Only companies still filing are counted.
04
Labour cost
5%
of revenue goes on employee cost for the median filer (5% nationally), about the same labour intensity as across India.
05
Lending
31.5%
of Maharashtra sugar mills have a secured loan on record (India: 36.8%). Most frequent lenders: Bank Of India (25), State Bank Of India (23), Union Bank Of India (21). Open borrowings against company assets total ₹21,348 crore.
06
Where the money is
49%
of reported revenue comes from Pune, which holds 27% of Maharashtra's sugar mills.
Where Maharashtra's sugar mills are
Companies by the city or district of their registered address.
City
Companies
Share
Reported revenue
Share of revenue
Pune
95
26.7%
₹3,511 crore
49%
Mumbai
56
15.7%
₹874 crore
12%
Solapur
27
7.6%
₹868 crore
12%
Sangli
27
7.6%
₹1,407 crore
20%
Kolhapur
23
6.5%
₹56.9 lakh
0%
Beed
13
3.7%
–
–
Aurangabad
13
3.7%
–
–
Latur
12
3.4%
–
–
Ahmed Nagar
12
3.4%
–
–
Osmanabad
12
3.4%
–
–
Sugar Mills in Maharashtra by size
From the latest accounts each company has filed, split by annual revenue. Growth compares with the year before; net margin is profit after tax over revenue.
The Ugar Sugar Works Ltd is a public company incorporated in 1939, with its registered office in Sangli, Maharashtra, classified under food & beverages. In FY25 it reported revenue of ₹1,407 crore, up 10% on the year before, with a net margin of −1.2%.
Revenue (FY25)₹1,407 crore
Growth vs prior year+10%
Net margin−1.2%
Net worth₹216 crore
Paid-up capital₹11.2 crore
AreaSangli
Incorporated1939 · Public company
Secured loans19 open
Key peopleManohar Joshi (Co-Founder); Hari Athawale (Co-Founder)
Founders & leadershipMHSSManohar Joshi, Hari Athawale, Sohan Shirgaokar +14 people
MJ
Manohar Joshi
Co-Founder
HA
Hari Athawale
Co-Founder
SS
Sohan Shirgaokar
Co-Founder
SS
Shishir Shirgaokar
Co-Founder
ProductsBoat Box Of 25 Ships, Master Carton +46 products
Operator of integrated sugarcane processing complex producing sugar, power, and distillery. The company harnesses the full potential of sugarcane through efficient and integrated operations. Diversification initiatives have expanded the portfolio beyond traditional sugarcane derivatives. Projects include sugar production, power generation, distillery operations, and PP bag manufacturing.
Daund Sugar Private Limited is a private company incorporated in 2007, with its registered office in Pune, Maharashtra, classified under food & beverages. In FY25 it reported revenue of ₹998 crore, up 41% on the year before, with a net margin of −12.5%.
Shri Ambalika Sugar Private Limited is a technology company that operates in the sugar industry, specializing in sugar, specialty sugars, co-generated power, and alcohol production.
Shri Ambalika Sugar Private Limited is a private company incorporated in 2011, with its registered office in Pune, Maharashtra, classified under food & beverages. In FY25 it reported revenue of ₹712 crore, up 8% on the year before, with a net margin of 1.7%.
Provider of sugar processing services. The mill manufactures sugar and by-products, including ethanol and rectified spirit, using advanced technology and sustainable practices. The company is promoted by experienced individuals and operates an extensive facility with a significant land area. It caters primarily to enterprises in the sugar and alcohol manufacturing industries.
Jarandeshwar Sugar Mills Private Limited is a private company incorporated in 2010, with its registered office in Pune, Maharashtra, classified under food & beverages. Its latest accounts on file are for FY24; revenue, growth and margin are locked below.
Revenue (FY24)XXXX
Growth vs prior yearXXXX
Net marginXXXX
Net worthXXXX
Paid-up capitalXXXX
AreaPune
Incorporated2010 · Private company
Secured loans8 open
Directors on recordRajendra Shankarrao Ghadge, Sachin Sambhaji Shangare2 directors
Rajendra Shankarrao GhadgeDirector · since 2011
Sachin Sambhaji ShangareDirector · since 2020
05 · FY25 accounts · Satara
J
Jaywant Sugars Limited
Jaywant Sugars Limited is a public company incorporated in 2006, with its registered office in Satara, Maharashtra, classified under food & beverages. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Provider of sugar and allied products with a focus on customer and employee satisfaction, Bhairavnath Sugar Works Limited excels in production and innovation through continuous research and development efforts. The company's core areas of ability lie in the production of sugar and allied products, with a strong commitment to meeting customer, employee, and supplier expectations.
Bhairavnath Sugar Works Limited is a public company incorporated in 2000, with its registered office in Pune, Maharashtra, classified under food & beverages. Its latest accounts on file are for FY24; revenue, growth and margin are locked below.
Vitthalrao Shinde Sahakari Sakhar Karkhana is a manufacturer of white crystal sugar. Offers products like white crystal sugar, refined sugar, and raw sugar. Claims to have a capacity of 6000 TCD(tons of the cane per day). It also produces alcohol, ENA, ethanol and has a manufacturing capacity of 30000 KLPD(kiloliters per day). Retails its products across India and Brazil.
Vitthal Refined Sugars Limited is a public company incorporated in 2010, with its registered office in Solapur, Maharashtra, classified under food & beverages. In FY21 it reported revenue of ₹99.2 crore, up 25% on the year before, with a net margin of −26.3%.
Indreshwar Sugar Mills Limited is a company that operates one of the biggest single stream molasses based distilleries in Maharashtra, offering sugar, power, and distillery products. Located in Barshi, Maharashtra, the company is known for its integrated cane processing plant.
Indreshwar Sugar Mills Limited is a public company incorporated in 2010, with its registered office in Pune, Maharashtra, classified under food & beverages. In FY25 it reported revenue of ₹87 crore, down 44% on the year before, with a net margin of 1.0%.
Mumbai-based Octaga Green is engaged in distillery products manufacturing, with a capacity of 3 lakh cases a month. The company has presence in the states of Maharashtra, Daman, Goa, Chandigarh and Puducherry, and also supplies to Border Security Force, Para Military Force in Madhya Pradesh, Haryana and Jammu & Kashmir. December 2014 news reports suggest that company mandated Delloitte to raise private equity of $20 million by diluting 22-24 per cent equity stake. The company also plans to set up bottling units at Himachal Pradesh, Tamil Nadu and Rajasthan.
Octaga Green Power And Sugar Company Limited is a public company incorporated in 2001, with its registered office in Mumbai, Maharashtra, classified under electricity, gas & power. In FY24 it reported revenue of ₹70.5 crore, up 28% on the year before, with a net margin of 0.4%.
Karan Sugars Private Limited is a private company incorporated in 2005, with its registered office in Pune, Maharashtra, classified under food & beverages. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Manufacturer of pressure vessels, heat exchangers, reactors, and process equipment. They provide design, engineering, fabrication, and testing services for various industrial applications. The company adheres to stringent quality control measures and industry standards. Their products are utilized in chemical, petrochemical, pharmaceutical, and other processing industries.
Samruddha Sugar Engineers Private Limited is a private company incorporated in 2005, with its registered office in Pune, Maharashtra, classified under machinery & equipment. Its latest accounts on file are for FY25; revenue, growth and margin are locked below.
Revenue (FY25)XXXX
Growth vs prior yearXXXX
Net marginXXXX
Net worthXXXX
Paid-up capitalXXXX
AreaPune
Incorporated2005 · Private company
Brand founded1982
Key peopleTaposh Bhattacharya (Owner); Srinivasan Ga (Owner)
OffersComplete Sugar plants, Co-generation plants, Industrial Boilers, Process House Equipment
Founders & leadershipTSSPTaposh Bhattacharya, Srinivasan Ga, Sanjeet Yadav +14 people
Kancheshwar Sugar LTD Mangrul follows a unique business model of working with sugarcane farmers to support the farming community. The sugar factory, located in a drought-prone area of Maharashtra, has shown success over the years. The company believes in empowering farmers and providing poison-free food while expressing gratitude to stakeholders for their contributions to its success.
Kancheshwar Sugar Limited is a public company incorporated in 2011, with its registered office in Solapur, Maharashtra, classified under food & beverages. Its latest accounts on file are for FY24; revenue, growth and margin are locked below.
Revenue (FY24)XXXX
Growth vs prior yearXXXX
Net marginXXXX
Net worthXXXX
Paid-up capitalXXXX
AreaSolapur
Incorporated2011 · Public company
Secured loans10 open
Key peopleDiliprao Mane (Founder); Sanjivkumar Jadhav (CEO)
Founders & leadershipDSDiliprao Mane, Sanjivkumar Jadhav2 people
The Ravalgaon Sugar Farm Limited manufactures sugar and confectionery for the Indian market. The Company was founded as part of the Walchand Group of Companies, but operates independently today as a public company listed on the Bombay Stock Exchange. Products include : Pan Pasand, Mango Mood, Cheery, Coffee Break, Laco, Assorted Center, Choco Cream, Tutty Fruity, Sweet Moments.
The Ravalgaon Sugar Farm Limited is a public company incorporated in 1933, registered in Maharashtra, classified under agriculture & farming. In FY25 it reported revenue of ₹1.2 crore, down 87% on the year before, with a net margin of −175.0%.
Warana Sugar Limited is a public company incorporated in 2006, with its registered office in Kolhapur, Maharashtra, classified under food & beverages. In FY19 it reported revenue of ₹56.9 lakh, up 1148% on the year before, with a net margin of 0.4%.
Revenue (FY19)₹56.9 lakh
Growth vs prior year+1148%
Net margin0.4%
Net worth₹2 crore
Paid-up capital₹26.5 lakh
AreaKolhapur
Incorporated2006 · Public company
Brand founded2005
Key peopleVinay Kore (Founder)
OffersSugar Factory, Dairy, Banking, Agro processing unit
Founders & leadershipVVinay Kore1 person
VK
Vinay Kore
Founder
Currently Founder
ProfileEx- Founder JANASURAJYA SHAKTI, Surajya Foundation. Vasantdada Patil Institute of Engineering and Technology
ProductsSugar Factory, Dairy +46 products
Product 01 / 06
Sugar Factory
AboutListed by Warana Power as one of its products or services; details on waranapower.com.
Product 02 / 06
Dairy
AboutListed by Warana Power as one of its products or services; details on waranapower.com.
Product 03 / 06
Banking
AboutListed by Warana Power as one of its products or services; details on waranapower.com.
Product 04 / 06
Agro processing unit
AboutListed by Warana Power as one of its products or services; details on waranapower.com.
Product 05 / 06
Bazzar
AboutListed by Warana Power as one of its products or services; details on waranapower.com.
Product 06 / 06
Micro/small Scale woman Industries
AboutListed by Warana Power as one of its products or services; details on waranapower.com.
Tridhara Sugar Limited is a public company incorporated in 2009, with its registered office in Parbhani, Maharashtra, classified under business services (consulting, advertising, staffing). In FY15 it reported revenue of ₹55.8 lakh, down 99% on the year before.
Revenue (FY15)₹55.8 lakh
Growth vs prior year−99%
Net margin–
Net worth−₹9.3 crore
Paid-up capital₹29.5 crore
AreaParbhani
Incorporated2009 · Public company
Secured loans1 open
Directors on recordGanesh Sureshrao Deshmukh, Eknath Ramkishanrao Salve, Tahsin Ahmed Gulam Yaseen Khan Khan6 directors
Ganesh Sureshrao DeshmukhDirector · since 2009
Eknath Ramkishanrao SalveDirector · since 2010
Tahsin Ahmed Gulam Yaseen Khan KhanManaging Director · since 2010
Keshavrao Ramkishanrao PangarkarDirector · since 2010
Ali Ahmed KhanWholetime Director · since 2010
Dnyanoba Baliram KaregaonkarDirector · since 2010
Food & beverages · 20 sugar mills, largest first
Machinery & electricals · 2 sugar mills, largest first
Business services · 1 sugar mills, largest first
Metals · 1 sugar mills (0 with filed accounts first, then other active companies)
Other · 2 sugar mills, largest first
Standout sugar mills in Maharashtra
Sugar mills with at least ₹5 crore of revenue: the fastest growing (two consecutive years on file) and the most profitable.
Fastest growing
Company
Revenue
Growth
Samruddha Sugar Engineers Private Limited
XXXX
XXXX
Daund Sugar Private Limited
₹998 crore
+41%
Octaga Green Power And Sugar Company Limited
₹70.5 crore
+28%
Vitthal Refined Sugars Limited
₹99.2 crore
+25%
Karan Sugars Private Limited
XXXX
XXXX
Mukteshwar Sugar Mills Limited
XXXX
XXXX
Jaywant Sugars Limited
XXXX
XXXX
The Ugar Sugar Works Ltd
₹1,407 crore
+10%
Highest margins
Company
Revenue
Net margin
Gangakhed Sugar & Energy Limited
XXXX
XXXX
Jakraya Sugar Limited
XXXX
XXXX
Saisidha Sugar Equipments And Engineering Company Private Limited
XXXX
XXXX
Brihan Karan Sugar Syndicate Private Limited
XXXX
XXXX
Bhairavnath Sugar Works Limited
XXXX
XXXX
Venkateshkrupa Sugar Mills Limited
XXXX
XXXX
Jarandeshwar Sugar Mills Private Limited
XXXX
XXXX
Shri Ambalika Sugar Private Limited
₹712 crore
1.7%
Financials locked for 11 of 25 companiesRevenue, growth, margin and net worth for every one of them are in Fliar Radar.
Secured loans registered against company assets. The median open loan is ₹15 crore.
Lender
Companies
Loans
Open borrowings
Bank Of India
25
67
₹645 crore
State Bank Of India
23
35
₹1,630 crore
Union Bank Of India
21
71
₹1,691 crore
Punjab National Bank
14
72
₹962 crore
Maharashtra State Co-operative Bank
13
52
₹2,370 crore
Bank Of Baroda
11
27
₹197 crore
Canara Bank
10
25
₹740 crore
Dombivli Nagari Sahakari Bank
10
12
₹246 crore
Frequently asked questions
How many sugar mills are there in Maharashtra?
The register lists 356 active sugar mills in Maharashtra; 25 have filed accounts and 19 are tracked in Radar.
What is the biggest of the sugar mills in Maharashtra?
By latest revenue: The Ugar Sugar Works Ltd (₹1,407 crore, FY25); Daund Sugar Private Limited (₹998 crore, FY25); Shri Ambalika Sugar Private Limited (₹712 crore, FY25).
How much revenue do sugar mills in Maharashtra generate?
The 25 companies with accounts on file reported ₹7,218 crore in their latest year; the median is ₹211 crore and the top ten make up 79%.
Are sugar mills in Maharashtra profitable?
71% of filers reported a profit and the median net margin is 1.0%; median revenue growth is −1%.
Which city in Maharashtra has the most sugar mills?
Pune (95); Mumbai (56); Solapur (27).
Which banks lend to sugar mills in Maharashtra?
Bank Of India (25 companies); State Bank Of India (23 companies); Union Bank Of India (21 companies); Punjab National Bank (14 companies).
Companies come from the Ministry of Corporate Affairs register (active companies; incorporations through 2022). Revenue, profit and net worth are the latest statutory accounts on file for companies that file them, standalone where available; companies without accounts are not in revenue figures. Secured loans are charges registered against company assets. Hiring is from Fliar Radar job tracking. Directory figures come from business-directory listings collected in 2026 (reviews to 2021). Counts are a floor: some incorporation years are only partly covered.
Boat Box Of 25 Ships, Master Carton +46 products
