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Last Updated: April 2, 2026, 3:12 am
Author: Getaka|Social: XLinkedIn

Kiri Industries Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹572.07Undervalued by 56.73%vs CMP ₹365.00

P/E (15.0) × ROE (8.6%) × BV (₹546.00) × DY (2.00%)

Defaults: P/E=15

₹4,234.46Undervalued by 1,060.13%vs CMP ₹365.00
MoS: +91.4% (Strong)Confidence: 48/100 (Moderate)Models: 5 Under, 3 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹924.4622%Under (+153.3%)
Graham NumberEarnings₹3,186.5820%Under (+773%)
Earnings PowerEarnings₹35.9713%Over (-90.1%)
DCFCash Flow₹20,101.4013%Under (+5407.2%)
Net Asset ValueAssets₹546.259%Under (+49.7%)
Earnings YieldEarnings₹8,265.609%Under (+2164.5%)
ROCE CapitalReturns₹105.009%Over (-71.2%)
Revenue MultipleRevenue₹123.287%Over (-66.2%)
Consensus (8 models)₹4,234.46100%Undervalued
Key Drivers: EPS CAGR 61.6% lifts DCF — verify sustainability. | Wide model spread (₹36–₹20,101) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 61.6% · Defaults: P/E=15

*Investments are subject to market risks

Investment Snapshot

52
Kiri Industries Ltd scores 52/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health66/100 · Strong
ROCE 10.5% AverageROE 8.6% AverageD/E 0.04 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money20/100 · Weak
FII holding down -6.27% (6mo) SellingDII holding down 0.83% MF sellingPromoter holding at 36.7% Stable
Earnings Quality40/100 · Moderate
OPM contracting (2% → -8%) Declining
Quarterly Momentum70/100 · Strong
Revenue (4Q): -1% YoY FlatProfit (4Q): +1,365% YoY Strong
Industry Rank40/100 · Moderate
ROCE 10.5% vs industry 10.9% Average3Y sales CAGR: -21% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:12 am

Market Cap 2,191 Cr.
Current Price 365
Intrinsic Value₹4,234.46
High / Low 779/334
Stock P/E
Book Value 546
Dividend Yield0.00 %
ROCE10.5 %
ROE8.56 %
Face Value 10.0
PEG Ratio0.00

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Kiri Industries Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Kiri Industries Ltd 2,191 Cr. 365 779/334 5460.00 %10.5 %8.56 % 10.0
Vidhi Specialty Food Ingredients Ltd 1,489 Cr. 298 482/25931.1 62.21.68 %18.7 %14.9 % 1.00
Heubach Colorants India Ltd 951 Cr. 412 621/40013.8 2410.00 %15.2 %11.6 % 10.0
Bodal Chemicals Ltd 688 Cr. 54.6 81.5/41.222.7 89.10.00 %5.51 %2.51 % 2.00
Bhageria Industries Ltd 609 Cr. 140 246/12811.6 1321.07 %8.66 %6.68 % 5.00
Industry Average1,057.00 Cr238.70166.44186.930.49%10.89%9.02%8.13

All Competitor Stocks of Kiri Industries Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 204222227231160269183173179205202213174
Expenses 221227226240180264183178223210218227222
Operating Profit -17-52-10-2150-5-44-5-16-14-49
OPM % -8%-2%1%-4%-13%2%0%-3%-25%-2%-8%-6%-28%
Other Income 0312861439263515,956
Interest 2245685185054606167
Depreciation 12121212111211111111121212
Profit before tax -31-16-13-26-30-9-2-31-14-64-53-855,829
Tax % 10%15%18%5%-3%89%-48%-3%1%-0%-2%-7%14%
Net Profit 54-61-319135-109280177-8510205,023
EPS in Rs 10.42-11.86-0.493.6325.96-1.8517.7915.4931.80-15.221.823.27836.69

Last Updated: March 4, 2026, 3:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 6:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 6919311,0301,1251,1171,3941,3059571,497945709740794
Expenses 6198319179669361,1631,1198741,376983768794878
Operating Profit 7310011315918123118683121-37-59-54-84
OPM % 11%11%11%14%16%17%14%9%8%-4%-8%-7%-11%
Other Income -2821715923392652333382152944885,998
Interest 808674935545623127241
Depreciation 37282729343844465049464546
Profit before tax -72-13302793761984022654041221662625,627
Tax % 1%22%13%5%5%17%7%5%4%13%0%-1%
Net Profit 101821962663581643762523891071662654,968
EPS in Rs 5.2279.8873.7195.40118.3852.36111.6975.1075.0020.5832.0747.59826.56
Dividend Payout % 0%0%0%0%0%4%0%1%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)1720.00%7.69%35.71%34.59%-54.19%129.27%-32.98%54.37%-72.49%55.14%59.64%
Change in YoY Net Profit Growth (%)0.00%-1712.31%28.02%-1.13%-88.78%183.46%-162.25%87.34%-126.86%127.63%4.50%

Kiri Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:-2%
5 Years:-11%
3 Years:-21%
TTM:-10%
Compounded Profit Growth
10 Years:4%
5 Years:-7%
3 Years:-12%
TTM:-23%
Stock Price CAGR
10 Years:20%
5 Years:-1%
3 Years:1%
1 Year:33%
Return on Equity
10 Years:13%
5 Years:9%
3 Years:6%
Last Year:9%

Last Updated: September 5, 2025, 9:10 am

Balance Sheet

Last Updated: December 4, 2025, 1:32 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 19232728303134345252525660
Reserves 1614206141,0051,3451,5341,8972,1472,5212,6272,7323,1913,219
Borrowings 78279142918420516715315296491221,1241,223
Other Liabilities 251321270257245327321367406477460355643
Total Liabilities 1,2121,5561,3391,4731,8242,0582,4042,7003,0743,2053,3654,7255,146
Fixed Assets 324368333376412484512563546510437806887
CWIP 11189636323879586372686363
Investments 1963945687179489541,2141,4451,7811,9922,5283,1522,993
Other Assets 5817054333444335825996346856303327051,203
Total Assets 1,2121,5561,3391,4731,8242,0582,4042,7003,0743,2053,3654,7255,146

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 169-8322620664141124729289-77-342
Cash from Investing Activity + -120-247-212-105-66-119-104-70-29-1829-842
Cash from Financing Activity + -453251-1192-16-27-7-57-56501,194
Net Cash Flow 4-616-1906-7-561429
Free Cash Flow 130-133181102-12611-55566-85-749
CFO/OP 233%-81%204%134%43%77%92%130%94%-292%129%634%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-709.00-691.00-316.00-25.00-24.0064.0033.00-69.0025.00-86.00-181.00-55.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 175184904870669012670814554
Inventory Days 1005642396369651049010581109
Days Payable 808596878981100158119213251151
Cash Conversion Cycle 19515536-04455557241-27-12512
Working Capital Days 201302195439404923-14-16441
ROCE %4%7%9%25%27%12%21%12%16%5%7%11%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 26.72%26.72%26.72%26.72%26.72%26.72%26.72%31.72%31.72%31.72%36.72%36.72%
FIIs 46.53%46.81%46.35%45.73%24.65%39.73%33.37%25.98%25.94%23.79%22.25%19.67%
DIIs 0.48%0.48%0.54%0.56%0.48%0.34%1.11%1.22%1.20%1.25%0.85%0.37%
Public 26.29%26.01%26.40%27.00%48.16%33.21%38.80%41.08%41.15%43.25%40.20%43.26%
No. of Shareholders 29,91830,15432,60030,28530,81032,06732,32933,70334,65137,44834,59334,013

Shareholding Pattern Chart

No. of Shareholders

Kiri Industries Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Motilal Oswal Nifty Microcap 250 Index Fund 37,525 0.22 1.0237,5252025-04-22 03:02:480%
Groww Nifty Total Market Index Fund 88 0.01 0882025-04-22 17:25:280%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 44.6125.5520.6795.4975.07
Diluted EPS (Rs.) 42.8125.5520.6774.9448.69
Cash EPS (Rs.) -11.49-7.57-10.8219.8920.20
Book Value[Excl.RevalReserv]/Share (Rs.) 583.62542.45516.89496.32643.22
Book Value[Incl.RevalReserv]/Share (Rs.) 583.62542.45516.89496.32643.22
Revenue From Operations / Share (Rs.) 133.03183.12182.32288.79284.65
PBDIT / Share (Rs.) 10.96-0.67-6.5923.7825.23
PBIT / Share (Rs.) 2.95-10.05-16.0214.1011.51
PBT / Share (Rs.) -19.90-14.46-17.2313.1810.32
Net Profit / Share (Rs.) -19.49-16.96-20.2510.216.48
NP After MI And SOA / Share (Rs.) 47.5925.6620.5875.0075.09
PBDIT Margin (%) 8.23-0.36-3.618.238.86
PBIT Margin (%) 2.21-5.49-8.784.884.04
PBT Margin (%) -14.95-7.89-9.454.563.62
Net Profit Margin (%) -14.65-9.25-11.103.532.27
NP After MI And SOA Margin (%) 35.7714.0111.2825.9726.38
Return on Networth / Equity (%) 8.154.733.9815.1111.67
Return on Capital Employeed (%) 0.36-1.83-3.042.801.68
Return On Assets (%) 5.603.893.3312.649.35
Long Term Debt / Equity (X) 0.340.010.010.010.04
Total Debt / Equity (X) 0.340.040.010.030.04
Asset Turnover Ratio (%) 0.180.280.300.600.39
Current Ratio (X) 2.820.981.131.241.35
Quick Ratio (X) 2.190.620.710.710.92
Inventory Turnover Ratio (X) 4.163.042.755.713.64
Interest Coverage Ratio (X) 0.47-0.15-5.4125.7821.16
Interest Coverage Ratio (Post Tax) (X) 0.14-2.85-15.6312.076.43
Enterprise Value (Cr.) 4583.911599.981416.912615.311489.90
EV / Net Operating Revenue (X) 6.191.691.501.751.56
EV / EBITDA (X) 75.21-460.34-41.5021.2217.56
MarketCap / Net Operating Revenue (X) 4.701.661.561.701.47
Price / BV (X) 1.070.550.540.980.64
Price / Net Operating Revenue (X) 4.701.661.561.701.47
EarningsYield 0.070.080.070.150.17

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Kiri Industries Ltd. is a Public Limited Listed company incorporated on 14/05/1998 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L24231GJ1998PLC034094 and registration number is 034094. Currently Company is involved in the business activities of Manufacture of basic chemicals. Company's Total Operating Revenue is Rs. 655.60 Cr. and Equity Capital is Rs. 55.63 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Dyes & Pigments7th Floor, Hasubhai Chambers, Ahmedabad Gujarat 380006Contact not found
Management
NamePosition Held
Mr. Manish KiriChairman & Managing Director
Mr. Yagnesh MankadWhole Time Director
Mr. Girish TandelWhole Time Director
Mr. Nanubhai KathiriaIndependent Director
Ms. Reema ParikhIndependent Director
Ms. Veena PadiaIndependent Director
Mr. Ashokkumar RajparaIndependent Director

FAQ

What is the intrinsic value of Kiri Industries Ltd and is it undervalued?

As of 16 April 2026, Kiri Industries Ltd's intrinsic value is ₹4234.46, which is 1060.13% higher than the current market price of ₹365.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (8.56 %), book value (₹546), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Kiri Industries Ltd?

Kiri Industries Ltd is trading at ₹365.00 as of 16 April 2026, with a FY2026-2027 high of ₹779 and low of ₹334. The stock is currently near its 52-week low. Market cap stands at ₹2,191 Cr..

How does Kiri Industries Ltd's P/E ratio compare to its industry?

Kiri Industries Ltd has a P/E ratio of , which is below the industry average of 166.44. This is broadly in line with or below the industry average.

Is Kiri Industries Ltd financially healthy?

Key indicators for Kiri Industries Ltd: ROCE of 10.5 % is moderate. Dividend yield is 0.00 %.

Is Kiri Industries Ltd profitable and how is the profit trend?

Kiri Industries Ltd reported a net profit of ₹265 Cr in Mar 2025 on revenue of ₹740 Cr. Compared to ₹389 Cr in Mar 2022, the net profit shows a declining trend.

Does Kiri Industries Ltd pay dividends?

Kiri Industries Ltd has a dividend yield of 0.00 % at the current price of ₹365.00. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Kiri Industries Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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