Keltech Energies Ltd

₹ 9,194 -2.13%

31 Jul - close price

About

Incorporated in 1977, Keltech Energies Ltd manufactures explosives and perlite related products^[1]

Key Points

Business Overview:^[1]
KEL is a part of the $300 million Chowgule Group having interests in mining, shipping, ship building, industrial salts, automobiles, iron ore, construction chemicals, pelletization, industrial gases, explosives, expanded perlite, exports. Company manufactures Cartridge Explosives, Bulk Emulsion Explosives, Mono Methyl Amine Nitrate (MMAN) solutions, Accessories for Explosives, Expanded Perlite Products & Perlite Filter Aid. It is a technology provider in low temperature cryogenic insulation of LNG, Ethylene, Propylene, Butane, Propane, Ethane, LOX, LIN, LAR, Ammonia, Cold boxes and other cryogenic equipment.

Website BSE

Market Cap ₹ 919 Cr.
Current Price ₹ 9,194
High / Low ₹ 9,864 / 2,900
Stock P/E 35.1
Book Value ₹ 1,530
Dividend Yield 0.02 %
ROCE 20.4 %
ROE 17.7 %
Face Value ₹ 10.0

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Pros

Company has delivered good profit growth of 43.3% CAGR over last 5 years

Cons

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Commodities Chemicals Chemicals & Petrochemicals Explosives

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	135.89	96.73	95.62	122.16	128.30	102.75	117.43	139.93	143.46	117.29	128.17	143.13	183.28
	127.44	88.80	88.20	112.54	118.69	95.07	107.77	129.92	130.90	109.04	118.73	132.48	169.48
Operating Profit	8.45	7.93	7.42	9.62	9.61	7.68	9.66	10.01	12.56	8.25	9.44	10.65	13.80
OPM %	6.22%	8.20%	7.76%	7.87%	7.49%	7.47%	8.23%	7.15%	8.76%	7.03%	7.37%	7.44%	7.53%
	0.78	0.53	1.06	1.49	2.36	2.16	0.91	1.88	1.17	2.88	1.43	4.30	1.36
Interest	0.98	1.39	1.08	1.03	1.16	1.05	1.08	1.02	0.92	0.89	0.98	1.40	1.58
Depreciation	1.63	1.69	1.77	1.67	1.74	1.78	1.76	1.71	1.81	1.82	1.88	2.13	2.34
Profit before tax	6.62	5.38	5.63	8.41	9.07	7.01	7.73	9.16	11.00	8.42	8.01	11.42	11.24
Tax %	26.13%	26.77%	22.20%	26.28%	25.58%	20.83%	25.61%	24.89%	25.27%	26.37%	27.34%	26.09%	28.11%
	4.88	3.94	4.38	6.21	6.75	5.56	5.75	6.88	8.21	6.20	5.81	8.44	8.08
EPS in Rs	48.80	39.40	43.80	62.10	67.50	55.60	57.50	68.80	82.10	62.00	58.10	84.40	80.80
Raw PDF

Profit & Loss

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	192	179	201	202	226	216	220	355	563	449	489	532	572
	180	166	185	183	211	200	207	340	537	417	451	491	530
Operating Profit	12	13	16	19	15	16	13	15	26	32	38	41	42
OPM %	6%	7%	8%	10%	7%	7%	6%	4.2%	4.6%	7%	8%	8%	7%
	0	1	0	-0	1	-1	-3	2	2	5	6	10	10
Interest	3	3	3	3	3	2	2	3	5	4	4	4	5
Depreciation	4	4	4	5	5	6	5	6	6	7	7	8	8
Profit before tax	5	8	9	11	8	6	3	8	17	26	33	39	39
Tax %	35%	36%	35%	33%	28%	24%	39%	22%	29%	25%	24%	26%
	3	5	6	8	6	5	2	7	12	19	25	29	29
EPS in Rs	34.20	50.70	58.40	75.50	60.30	47.40	18.80	66.30	119.20	194.10	249.40	286.60	285.30
Dividend Payout %	7%	5%	4%	3%	4%	3%	8%	2%	1%	1%	1%	1%

Compounded Sales Growth
10 Years:	11%
5 Years:	19%
3 Years:	-2%
TTM:	14%

Compounded Profit Growth
10 Years:	17%
5 Years:	43%
3 Years:	27%
TTM:	-1%

Stock Price CAGR
10 Years:	34%
5 Years:	58%
3 Years:	80%
1 Year:	127%

Return on Equity
10 Years:	16%
5 Years:	18%
3 Years:	20%
Last Year:	18%

Balance Sheet

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	1	1	1	1	1	1	1	1	1	1	1	1
Reserves	35	39	44	52	57	61	63	69	80	99	124	152
	18	21	24	20	23	23	24	31	32	25	39	73
	44	36	44	39	50	47	54	77	92	98	124	129
Total Liabilities	98	98	113	111	131	132	141	177	205	223	287	355
	45	43	56	56	56	54	54	70	69	71	68	117
CWIP	0	6	1	1	1	3	6	1	1	1	9	38
Investments	0	0	0	0	0	0	0	7	10	20	22	13
	52	49	57	54	74	75	82	100	125	130	188	186
Total Assets	98	98	113	111	131	132	141	177	205	223	287	355

Cash Flows

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	7	6	13	11	2	5	8	21	18	51	-18	48
	-2	-7	-12	-4	-5	-3	-7	-23	-8	-17	-10	-75
	-5	1	-1	-8	4	-2	-3	2	-4	-11	10	30
Net Cash Flow	0	0	0	-1	1	-0	-2	-1	6	23	-18	3
Free Cash Flow	5	-1	1	6	-3	2	0	4	13	27	-30	-37
CFO/OP	79%	66%	92%	75%	36%	57%	68%	146%	88%	185%	-30%	139%

Ratios

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	53	45	59	51	63	64	66	48	40	39	42	42
Inventory Days	35	35	43	48	49	56	55	52	33	42	49	52
Days Payable	79	66	86	70	90	97	107	79	48	78	105	81
Cash Conversion Cycle	9	14	16	29	21	23	14	21	25	3	-14	14
Working Capital Days	-8	-10	-3	4	-2	3	4	-1	4	-14	-11	-11
ROCE %	15%	18%	19%	20%	14%	13%	10%	12%	21%	26%	26%	20%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Explosives Sales Volume
MT

xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx
xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx
x,xxx	x,xxx	x,xxx	x,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx
	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx
	xx	xx	xx	xx	xx	xx	xx	xx	xx	xx
							xx.xx	xx.xx	xx.xx	xx.xx

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Number of Permanent Employees
Count

Perlite and Perlite-based Products Sales Volume
MT

Explosives Segment Share of External Revenue
%

Export Revenue
Rs. Lakhs

Number of Manufacturing Plants / Locations
Count

Detonating Fuse Sales Volume
Million Meters

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	54.33%	54.33%	54.33%	54.33%	54.33%	54.33%	54.33%	54.33%	54.33%	54.33%	54.33%	54.33%
	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.16%
	45.53%	45.53%	45.53%	45.52%	45.53%	45.53%	45.54%	45.53%	45.53%	45.54%	45.52%	45.51%
No. of Shareholders	4,332	4,707	4,960	5,524	4,332	5,862	5,887	6,784	6,676	6,681	6,724	6,244

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	54.23%	54.23%	54.23%	54.23%	54.23%	54.23%	54.33%	54.33%	54.33%	54.33%	54.33%
	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.16%
	45.63%	45.63%	45.63%	45.63%	45.63%	45.63%	45.53%	45.53%	45.54%	45.52%	45.51%
No. of Shareholders	3,429	4,142	4,304	4,303	3,925	3,896	3,857	4,960	5,887	6,724	6,244

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Keltech Energies Ltd

Keltech Energies Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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