Keerthi Industries Ltd

₹ 41.4 10.39%

26 Aug 11:22 a.m.

About

Incorporated in 1982, Keerthi Industries Ltd is in the business of manufacturing, selling, and distributing cement and printed circuit boards.^[1]

Key Points

Business Overview:^[1]
KIL manufactures specialised cement in 43 and 53 grades, including Ordinary Portland Cement (OPC) and Pozzolana
Portland Cement (PPC). The company markets its products under the brand name ‘Suvarna Cements’. It sources
around 70% of its coal requirement from The Singareni Collieries Co. Limited (SCCL).

Website BSE

Market Cap ₹ 33.2 Cr.
Current Price ₹ 41.4
High / Low ₹ 84.9 / 34.5
Stock P/E
Book Value ₹ 32.0
Dividend Yield 0.00 %
ROCE -25.3 %
ROE -69.4 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Stock is trading at 1.15 times its book value

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of -16.6% over past five years.
Company has a low return on equity of -39.6% over last 3 years.
Contingent liabilities of Rs.23.3 Cr.
Promoters have pledged 44.6% of their holding.
Company's cost of borrowing seems high
Promoter holding has decreased over last 3 years: -7.74%

* 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 Construction Materials Cement & Cement Products Cement & Cement Products

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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
	58.23	47.47	56.19	50.23	37.47	22.13	24.84	17.72	30.58	22.48	15.89	24.64	19.11
	57.53	49.89	53.38	55.32	40.96	30.66	31.01	19.71	30.39	25.98	20.22	27.57	23.85
Operating Profit	0.70	-2.42	2.81	-5.09	-3.49	-8.53	-6.17	-1.99	0.19	-3.50	-4.33	-2.93	-4.74
OPM %	1.20%	-5.10%	5.00%	-10.13%	-9.31%	-38.54%	-24.84%	-11.23%	0.62%	-15.57%	-27.25%	-11.89%	-24.80%
	0.37	0.26	0.31	0.40	0.33	1.45	0.69	1.01	0.63	0.09	0.58	8.01	0.12
Interest	1.41	1.52	1.58	1.55	1.53	1.57	1.60	1.63	1.58	1.48	1.30	0.97	0.57
Depreciation	2.93	3.03	3.05	3.02	3.00	2.89	2.85	2.78	2.80	2.83	2.34	1.80	1.68
Profit before tax	-3.27	-6.71	-1.51	-9.26	-7.69	-11.54	-9.93	-5.39	-3.56	-7.72	-7.39	2.31	-6.87
Tax %	31.50%	-12.67%	-30.46%	-51.51%	-28.61%	-60.83%	-11.48%	-26.16%	-32.87%	-29.53%	-22.87%	176.19%	3.93%
	-4.30	-5.86	-1.04	-4.49	-5.48	-4.52	-8.79	-3.98	-2.39	-5.43	-5.70	-1.76	-7.14
EPS in Rs	-5.36	-7.31	-1.30	-5.60	-6.84	-5.64	-10.96	-4.96	-2.98	-6.77	-7.11	-2.20	-8.91
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
	153	183	198	193	184	172	232	250	241	212	120	94	82
	127	141	166	166	177	164	184	219	241	216	137	104	98
Operating Profit	26	41	32	26	8	8	49	31	-0	-4	-18	-11	-16
OPM %	17%	23%	16%	14%	4.2%	4.8%	21%	12%	-0.1%	-1.8%	-15%	-11%	-19%
	3	3	2	2	4	10	-3	4	2	1	2	9	9
Interest	9	6	7	7	7	6	5	3	3	6	7	5	4
Depreciation	8	8	9	11	11	11	10	9	9	12	12	10	9
Profit before tax	10	30	18	11	-5	1	30	22	-11	-21	-34	-16	-20
Tax %	-81%	33%	37%	27%	-101%	135%	35%	30%	-35%	-24%	-32%	-7%
	19	20	11	8	0	-0	19	16	-7	-16	-23	-15	-20
EPS in Rs	23.54	24.84	14.21	9.92	0.09	-0.40	24.02	19.51	-9.03	-19.57	-28.40	-19.07	-24.99
Dividend Payout %	0%	0%	0%	9%	1,031%	-226%	6%	8%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-6%
5 Years:	-17%
3 Years:	-27%
TTM:	-14%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	-23%

Stock Price CAGR
10 Years:	-10%
5 Years:	-26%
3 Years:	-35%
1 Year:	-48%

Return on Equity
10 Years:	-3%
5 Years:	-17%
3 Years:	-40%
Last Year:	-69%

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	8	8	8	8	8	8	8	8	8	8	8	8
Reserves	23	43	41	49	48	47	66	80	71	56	33	18
	82	86	66	63	61	56	30	30	65	61	58	24
	37	38	60	51	39	32	47	44	43	50	70	77
Total Liabilities	150	175	176	171	157	143	150	163	188	174	169	126
	107	102	121	114	107	100	92	86	80	114	101	82
CWIP	0	21	0	0	0	0	0	9	41	2	0	0
Investments	0	0	0	1	1	2	2	3	3	3	3	0
	43	53	55	55	48	41	56	64	63	55	64	44
Total Assets	150	175	176	171	157	143	150	163	188	174	169	126

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
	18	25	34	26	8	12	38	9	6	16	5	1
	0	-23	-9	-3	-4	-4	-1	-14	-35	-6	3	34
	-17	-2	-18	-24	-9	-5	-29	-4	30	-10	-8	-35
Net Cash Flow	1	-0	7	-2	-6	3	7	-9	1	-1	-0	0
Free Cash Flow	18	1	26	23	8	9	35	-4	-29	9	7	-4
CFO/OP	80%	79%	121%	107%	101%	150%	85%	44%	-1,762%	-410%	-27%	-17%

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	4	5	5	6	7	7	8	9	10	10	14	0
Inventory Days	433	465	351	398	222	237	329	287	461	281	382	217
Days Payable	420	338	293	331	205	184	156	117	232	286	791	896
Cash Conversion Cycle	17	131	63	73	23	61	181	180	239	5	-395	-679
Working Capital Days	-70	-44	-98	-82	-84	-108	-14	7	-6	-42	-154	-213
ROCE %	17%	27%	20%	16%	1%	-0%	38%	23%	-6%	-11%	-25%	-25%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Cement Capacity Utilization
%

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

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Cement Production Volume
MT

Cement Segment Revenue Share
%

Clinker Production Volume
MT

Cement Sales Realization
Rs/MT

PCB Production Volume (Electronics Division)
sqm

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
	74.92%	74.92%	74.92%	74.92%	74.92%	74.92%	74.92%	67.18%	67.18%	67.18%	67.18%	67.18%
	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%
	25.03%	25.05%	25.05%	25.05%	25.05%	25.04%	25.03%	32.78%	32.78%	32.77%	32.78%	32.79%
No. of Shareholders	12,881	12,833	12,756	12,749	12,769	12,772	12,747	12,733	12,695	12,681	12,669	6,340

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	74.92%	74.92%	74.92%	74.92%	74.92%	74.92%	74.92%	74.92%	74.92%	74.92%	67.18%	67.18%
	1.66%	0.12%	0.12%	0.12%	0.12%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%
	23.43%	24.96%	24.95%	24.95%	24.95%	25.04%	25.04%	25.04%	25.05%	25.03%	32.78%	32.79%
No. of Shareholders	14,689	14,518	14,357	14,118	13,829	13,605	13,322	13,031	12,756	12,747	12,669	6,340

* 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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Keerthi Industries Ltd

Keerthi Industries Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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