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Last Updated on: 04 March, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Kiri Industries Ltd

About the Company - Kiri Industries Ltd

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 dyes and pigments from any source in basic form or as concentrate. Company’s Total Operating Revenue is Rs. 1136.80 Cr. and Equity Capital is Rs. 51.83 Cr. for the Year ended 31/03/2022.
Dyes & Pigments7th Floor, Hasubhai Chambers, Ahmedabad Gujarat
NamePosition Held
Mr. Manish KiriChairman & Managing Director
Ms. Veena PadiaIndependent Director
Mr. Keyoor BakshiIndependent Director
Mr. Mukesh DesaiIndependent Director
Mr. Yagnesh MankadWhole Time Director
Mr. Girish TandelWhole Time Director

Kiri Industries Ltd. Share Price Update

Share PriceValue
Previous Day₹414.25

Basic Stock Data of Kiri Industries Ltd

Market Cap 2,037 Cr.
Current Price 393
High / Low454/261
Stock P/E25.1
Book Value 520
Dividend Yield0.00 %
ROCE4.77 %
ROE4.06 %
Face Value 10.0

Data Source:

Kiri Industries Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Operating Profit-0394920284925-9-7-17-52-10
OPM %-0%13%14%7%8%11%6%-3%-3%-8%-2%1%-4%
Other Income1100001000312
Profit before tax-1126357143512-22-20-31-16-13-26
Tax %-56%22%-12%1%14%30%23%-21%-28%-10%-15%-18%-5%
Net Profit451491169110110691546154-61-319
EPS in Rs13.4344.2634.5724.6025.2926.5117.5610.3211.7010.42-11.86-0.493.63

Kiri Industries Ltd Quarterly Chart

Kiri Industries Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Operating Profit81237310011315918123118683121-37-26
OPM %15%4%11%11%11%14%16%17%14%9%8%-4%-3%
Other Income-19-110-2821715923392652333382159
Profit before tax-24-199-72-1330279376198402265404122-82
Tax %-33%-0%-1%-22%13%5%5%17%7%5%4%13%
Net Profit-32-2001018219626635816437625238910781
EPS in Rs-16.84-105.025.2279.8873.7195.40118.3852.36111.6975.1075.0020.5815.66
Dividend Payout %0%0%0%0%0%0%0%4%0%1%0%0%

Kiri Industries Ltd Profit & Loss Yearly Chart

Kiri Industries Ltd Growth

Compounded Sales Growth
10 Years:5%
5 Years:-3%
3 Years:-10%
Compounded Profit Growth
10 Years:12%
5 Years:-22%
3 Years:-34%
Stock Price CAGR
10 Years:23%
5 Years:-1%
3 Years:-6%
1 Year:39%
Return on Equity
10 Years:17%
5 Years:13%
3 Years:11%
Last Year:4%

Kiri Industries Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital19191923272830313434525252
Preference Capital000440369101000
Other Liabilities199192251326292257281336330377406477431
Total Liabilities1,1261,1141,2121,5561,3391,4731,8242,0582,4042,7003,0743,2013,244
Fixed Assets349325324368333376412484512563546510490
Other Assets568567581705433344433582599634685627632
Total Assets1,1261,1141,2121,5561,3391,4731,8242,0582,4042,7003,0743,2013,244

Kiri Industries Ltd Reserves and Borrowings Chart

Kiri Industries Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 11432169-8322620664141124729289
Cash from Investing Activity -158-22-120-247-212-105-66-119-104-70-29-18
Cash from Financing Activity 37-8-453251-1192-16-27-7-57-57
Net Cash Flow-814-616-1906-7-5614

Kiri Industries Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days17718917518490487066901267080
Inventory Days16714810056423963696510490105
Days Payable10689808596878981100158119213
Cash Conversion Cycle23724819515536-04455557241-28
Working Capital Days1861901081517265539406940-13
ROCE %5%-1%4%7%9%25%27%12%21%12%16%5%

Kiri Industries Ltd Financial Efficiency Indicators Chart

Kiri Industries Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
No. of Shareholders22,25428,00033,37135,08431,61830,68529,35727,93829,91830,15432,60030,285

Kiri Industries Ltd Shareholding Pattern Chart

No. of Kiri Industries Ltd Shareholders

Kiri Industries Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Motilal Oswal Nifty Microcap 250 Index Fund375250.221.02
Groww Nifty Total Market Index Fund880.010

Kiri Industries Ltd ROCE Trend

Kiri Industries Ltd EPS Trend

Kiri Industries Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
Basic EPS (Rs.)20.6795.4975.07114.3352.29
Diluted EPS (Rs.)20.6774.9448.6972.3431.62
Cash EPS (Rs.)-10.8219.8920.2047.6262.27
Book Value[Excl.RevalReserv]/Share (Rs.)516.89496.32643.22568.56500.04
Book Value[Incl.RevalReserv]/Share (Rs.)516.89496.32643.22568.56500.04
Revenue From Operations / Share (Rs.)182.32288.79284.65388.27444.69
PBDIT / Share (Rs.)-6.5923.7825.2356.9174.56
PBIT / Share (Rs.)-16.0214.1011.5143.7162.58
PBT / Share (Rs.)-17.2313.1810.3242.2760.95
Net Profit / Share (Rs.)-20.2510.216.4834.4150.29
NP After MI And SOA / Share (Rs.)20.5875.0075.09111.6952.36
PBDIT Margin (%)-3.618.238.8614.6516.76
PBIT Margin (%)-8.784.884.0411.2514.07
PBT Margin (%)-9.454.563.6210.8813.70
Net Profit Margin (%)-11.103.532.278.8611.30
NP After MI And SOA Margin (%)11.2825.9726.3828.7611.77
Return on Networth / Equity (%)3.9815.1111.6719.6410.47
Return on Capital Employeed (%)-3.042.801.687.1611.27
Return On Assets (%)3.3312.649.3515.627.97
Long Term Debt / Equity (X)
Total Debt / Equity (X)
Asset Turnover Ratio (%)0.300.600.390.610.73
Current Ratio (X)
Quick Ratio (X)0.710.710.921.041.01
Inventory Turnover Ratio (X)2.755.713.644.606.17
Interest Coverage Ratio (X)-5.4125.7821.1639.5645.96
Interest Coverage Ratio (Post Tax) (X)-15.6312.076.4324.9232.00
Enterprise Value (Cr.)1416.912615.311489.90987.361682.36
EV / Net Operating Revenue (X)1.501.751.560.751.21
EV / EBITDA (X)-41.5021.2217.565.167.20
MarketCap / Net Operating Revenue (X)1.561.701.470.691.12
Price / BV (X)0.540.980.640.470.99
Price / Net Operating Revenue (X)1.561.701.470.691.12

Kiri Industries Ltd Profitability Ratios (%)

Kiri Industries Ltd Liquidity Ratios

Kiri Industries Ltd Liquidity Ratios (%)

Kiri Industries Ltd Interest Coverage Ratios (%)

Kiri Industries Ltd Valuation Ratios

Fair Value of Kiri Industries Ltd Stock

Fair Value: ₹540.51

The stock is undervalued by 37.53% compared to the current price ₹393

*Investments are subject to market risks

Strength and Weakness of Kiri Industries Ltd Stock

  1. The company has higher reserves (1,340.00 cr) compared to borrowings (5.62 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (426.08 cr) and profit (129.69 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 23.18 and average Dividend Yield of 5.09%.
  2. The stock has a low average ROCE of 11.83%, which may not be favorable.
  3. The stock has a high average Working Capital Days of 74.83, which may not be favorable.
  4. The stock has a high average Cash Conversion Cycle of 92.50, which may not be favorable.

About the Author

Author Avatar

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

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 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