Kiri Industries Ltd
NSE: KIRIINDUS BSE: 532967Chemicals
Kiri Industries Limited (KIL) is engaged in the business of manufacturing and exporting a wide range of Dyes, Dye Intermediates, and Basic Chemicals from India. [1]
₹386
52W: ₹334 — ₹779
PE 94 · Book ₹131 · +195% vs bookMarket Cap₹2,515 Cr
Stock P/E94Price to Earnings
ROCE2.45%Return on Capital
ROE0.78%Return on Equity
Div. Yield0%Face Value ₹10
Strengths
- +Promoter holding has increased by 4.99% over last quarter.
Weaknesses
- −Stock is trading at 2.89 times its book value
- −The company has delivered a poor sales growth of -7.52% over past five years.
- −Company has a low return on equity of -14.3% over last 3 years.
- −Contingent liabilities of Rs.1,494 Cr.
- −Earnings include an other income of Rs.6,003 Cr.
- −Debtor days have increased from 43.9 to 53.1 days.
Shareholding Pattern
Promoters41.71%
FIIs16.88%
DIIs1.17%
Public40.24%
| Category | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Apr 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 26.72% | 31.72%▲5.0 | 31.72% | 31.72% | 36.72%▲5.0 | 36.72% | 36.72% | 41.71%▲5.0 |
| FIIs | 33.37% | 25.98%▼7.4 | 25.94%▼0.0 | 23.79%▼2.2 | 22.25%▼1.5 | 19.67%▼2.6 | 18.32%▼1.4 | 16.88%▼1.4 |
| DIIs | 1.11% | 1.22%▲0.1 | 1.2%▼0.0 | 1.25%▲0.1 | 0.85%▼0.4 | 0.37%▼0.5 | 1.28%▲0.9 | 1.17%▼0.1 |
| Public | 38.8% | 41.08%▲2.3 | 41.15%▲0.1 | 43.25%▲2.1 | 40.2%▼3.0 | 43.26%▲3.1 | 43.68%▲0.4 | 40.24%▼3.4 |
Financial Statements
| Metric | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 151 | 141 | 200 | 168 | 145 | 156 | 186 | 181 | 195 | 162 |
| Expenses | 170 | 162 | 210 | 168 | 151 | 202 | 178 | 197 | 209 | 209 |
| Operating Profit | -19 | -21 | -11 | 0 | -6 | -46 | 8 | -17 | -14 | -47 |
| OPM % | -12% | -15% | -5% | 0% | -4% | -29% | 5% | -9% | -7% | -29% |
| Net Profit | -34 | -29 | -29 | -2 | -21 | 25 | 2 | 7 | -21 | 5,082 |
| EPS ₹ | -6.59 | -5.6 | -5.62 | -0.33 | -4.06 | 4.57 | 0.32 | 1.29 | -3.52 | 846.63 |
AI Insights
Revenue Trend
TTM revenue at ₹723Cr, up 10.2% YoY. OPM at -10%.
Debt Position
Borrowings at ₹118Cr. Debt-to-equity ratio: 0.16x. Healthy balance sheet.
Capex Cycle
CWIP at ₹61Cr (13% of fixed assets). Moderate ongoing capital expenditure.
Institutional Flow
DIIs: 1.17% (+0.63pp change). FIIs: 16.88% (-29.47pp change). Promoters hold 41.71%.
Margin & Efficiency
ROCE declining from 3% (Mar 2014) to 2% (Mar 2025). Working capital days: 27.
Valuation
PE 94x with 2.45% ROCE. Price is 195% above book value of ₹131. Dividend yield: 0%.
Recent Announcements
- Announcement under Regulation 30 (LODR)-Monitoring Agency Report 12 May - CRISIL report for Q4 FY26 shows preferential issue proceeds utilized without deviation.
- Compliances-Reg.24(A)-Annual Secretarial Compliance 2 May - Kiri Industries filed annual secretarial compliance report for FY ended March 31, 2026.
- Disclosure Of Warning Letter Received From Stock Exchanges Pursuant To Regulation 30 Read With Schedule-III Of SEBI (LODR) Regulations, 2015 ('SEBI Listing Regulations'). 28 Apr - BSE and NSE issued warning letters on April 27, 2026 for delayed disclosure of DyStar long-stop-date extension.
- Disclosure Under Regulations 30 And 30A Read With Clause 5A, Para A, Part A, Schedule III Of The SEBI (LODR) Regulations, 2015 ('SEBI LODR') - Execution Of Assignment Agreement By Wholly Owned Subsidiary 28 Apr - Subsidiary Equinaire signed assignment agreement with MIC for USD 9.76m MCB Copper-Gold Project loan, with USD 5m deposit.
- Certificate Under Regulation 169(5) Of SEBI (ICDR) Regulations, 2018 15 Apr - Auditor certificate submitted for compliance on 51,45,446 equity shares allotted on warrant conversion.
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse