KSE Ltd

KSE Ltd

₹ 2,411 1.20%
16 Jul - close price
About

Incorporated in 1963, KSE Ltd manufactures ready mixed cattle feed, extracts oil from oil cakes using solvent extraction method, and processes milk and milk products[1]

Key Points

Business Overview:[1][2]
KSE is a National Productivity Council-certified manufacturer of compound cattle feed and undertakes solvent extraction. It also operates in milk procurement and processing, in various
districts of Kerala and has an exclusive distribution network of over 700 dealers, and customer support services viz. on-call veterinary doctors, etc.

  • Market Cap 772 Cr.
  • Current Price 2,411
  • High / Low 2,628 / 1,459
  • Stock P/E 37.6
  • Book Value 703
  • Dividend Yield 0.83 %
  • ROCE 13.0 %
  • ROE 9.35 %
  • Face Value 10.0

Pros

  • Company is almost debt free.

Cons

  • Stock is trading at 3.43 times its book value
  • Promoter holding has decreased over last quarter: -0.58%
  • The company has delivered a poor sales growth of 6.84% over past five years.
  • Promoter holding is low: 23.3%
  • Company has a low return on equity of 3.76% over last 3 years.

* 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

Sector: FMCG Industry: Food - Processing - Indian

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Quarterly Results

Figures in Rs. Crores

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
410 404 437 420 410 410 394 411 395 424 437 406 417
372 396 445 417 401 412 388 412 400 426 437 398 390
Operating Profit 38 8 -8 3 8 -3 6 -2 -5 -1 -1 8 26
OPM % 9% 2% -2% 1% 2% -1% 1% -0% -1% -0% -0% 2% 6%
6 1 2 -1 1 1 1 2 2 1 1 -4 2
Interest 0 0 0 0 0 1 1 1 1 1 1 1 1
Depreciation 1 1 1 1 1 1 1 1 1 1 1 1 1
Profit before tax 42 8 -7 0 8 -3 6 -1 -5 -2 -2 2 26
Tax % 25% 26% 25% 82% 27% 25% 26% 25% 23% 34% 16% 26% 27%
32 6 -5 0 6 -2 4 -1 -4 -1 -1 1 19
EPS in Rs 99.72 17.44 -16.38 0.25 19.25 -7.19 13.28 -2.28 -11.22 -3.28 -4.44 3.59 59.16
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
697 806 900 925 1,047 1,304 1,209 1,429 1,543 1,670 1,610 1,683
684 777 839 909 1,018 1,196 1,196 1,402 1,404 1,659 1,613 1,652
Operating Profit 13 29 60 16 29 108 13 26 139 11 -3 32
OPM % 2% 4% 7% 2% 3% 8% 1% 2% 9% 1% -0% 2%
1 1 12 2 2 5 6 4 15 3 7 -0
Interest 4 3 2 2 2 1 1 2 2 2 2 3
Depreciation 4 4 6 4 3 4 3 3 2 3 4 5
Profit before tax 7 23 64 12 26 109 15 26 150 9 -3 24
Tax % 30% 34% 32% 38% 37% 36% 36% 28% 25% 29% 20% 27%
5 15 44 8 16 70 9 19 113 7 -2 18
EPS in Rs 14.53 48.03 136.34 23.69 51.12 217.59 29.47 59.06 352.91 20.53 -7.44 55.03
Dividend Payout % 69% 42% 37% 84% 59% 28% 51% 34% 28% 97% -269% 36%
Compounded Sales Growth
10 Years: 8%
5 Years: 7%
3 Years: 3%
TTM: 5%
Compounded Profit Growth
10 Years: 3%
5 Years: 15%
3 Years: -43%
TTM: 657%
Stock Price CAGR
10 Years: 21%
5 Years: 21%
3 Years: -3%
1 Year: 59%
Return on Equity
10 Years: 20%
5 Years: 15%
3 Years: 4%
Last Year: 9%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 3 3 3 3 3 3 3 3 3 3 3 3
Reserves 38 45 69 68 83 141 127 139 240 220 211 222
30 17 17 11 39 44 43 15 40 19 19 21
25 30 49 32 30 42 25 33 51 39 35 32
Total Liabilities 95 96 138 116 156 230 197 190 335 281 268 278
39 36 27 25 29 27 26 25 24 38 40 43
CWIP 0 0 0 0 0 0 0 1 2 2 3 6
Investments 0 0 0 0 35 83 43 66 116 47 66 37
56 59 111 90 92 119 128 99 193 194 159 192
Total Assets 95 96 138 116 156 230 197 190 335 281 268 278

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
9 19 36 -5 24 65 -13 35 34 4 34 -15
-8 -1 12 -1 -41 -53 37 -10 -42 55 -32 24
-3 -19 -14 -21 18 -8 -26 -35 13 -50 -8 -7
Net Cash Flow -2 -1 35 -27 1 3 -1 -11 6 8 -6 2

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 0 0 0 0 0 0 0 0 0 0 0 0
Inventory Days 29 26 33 33 30 31 30 24 50 40 31 38
Days Payable 6 5 8 4 3 5 3 2 6 5 4 2
Cash Conversion Cycle 23 22 25 30 27 26 28 22 44 36 27 36
Working Capital Days 13 11 8 17 16 14 22 15 31 30 23 37
ROCE % 15% 39% 72% 15% 27% 70% 10% 17% 66% 5% -1% 13%

Shareholding Pattern

Numbers in percentages

Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
25.66% 25.64% 25.62% 25.61% 25.64% 25.53% 25.53% 25.49% 25.07% 24.53% 23.92% 23.34%
0.11% 0.11% 0.11% 0.11% 0.11% 0.11% 0.11% 0.11% 0.08% 0.08% 0.08% 0.08%
74.24% 74.25% 74.27% 74.28% 74.24% 74.36% 74.36% 74.40% 74.85% 75.39% 76.00% 76.57%
No. of Shareholders 7,5306,8696,5426,3926,3056,3866,3436,2876,2796,2926,1556,126

* 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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