Kesar India Ltd
Incorporated in 2002, Kesar Lands Ltd is
in the business of real estate development and constructing residential and commercial projects, industrial buildings, factory buildings, workshop buildings, etc. All the projects are marketed under the brand name, "Kesar Lands".
- Market Cap ₹ 3,336 Cr.
- Current Price ₹ 1,192
- High / Low ₹ 1,287 / 476
- Stock P/E 864
- Book Value ₹ 48.4
- Dividend Yield 0.00 %
- ROCE 39.6 %
- ROE 46.2 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 38.8%
- Company's working capital requirements have reduced from 104 days to 56.9 days
Cons
- Stock is trading at 24.6 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company might be capitalizing the interest cost
* 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
Consumer Discretionary Realty Realty Residential, Commercial Projects
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 0.19 | 0.48 | 1.16 | 8.41 | 15.19 | 52.63 | 80.66 | 59.98 | |
| 0.15 | 0.51 | 1.16 | 3.75 | 14.10 | 38.65 | 56.14 | 52.24 | |
| Operating Profit | 0.04 | -0.03 | 0.00 | 4.66 | 1.09 | 13.98 | 24.52 | 7.74 |
| OPM % | 21.05% | -6.25% | 0.00% | 55.41% | 7.18% | 26.56% | 30.40% | 12.90% |
| 0.00 | 0.09 | 0.04 | 0.68 | 0.25 | 0.58 | 2.05 | 0.96 | |
| Interest | 0.00 | 0.00 | 0.00 | 0.09 | 0.08 | 0.14 | 0.98 | 1.83 |
| Depreciation | 0.02 | 0.02 | 0.02 | 0.18 | 0.19 | 0.36 | 0.69 | 1.44 |
| Profit before tax | 0.02 | 0.04 | 0.02 | 5.07 | 1.07 | 14.06 | 24.90 | 5.43 |
| Tax % | 50.00% | 25.00% | 50.00% | 28.40% | 27.10% | 28.38% | 25.58% | |
| 0.01 | 0.04 | 0.01 | 3.63 | 0.78 | 10.07 | 18.52 | 3.86 | |
| EPS in Rs | 0.50 | 2.00 | 0.50 | 181.50 | 0.32 | 4.07 | 7.49 | 1.56 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 179% |
| 3 Years: | 112% |
| TTM: | -27% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 239% |
| 3 Years: | 70% |
| TTM: | -80% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 286% |
| 1 Year: | 74% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 39% |
| Last Year: | 46% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.03 | 0.03 | 0.03 | 0.03 | 3.53 | 24.71 | 24.71 | 24.80 |
| Reserves | -0.86 | -0.82 | -0.81 | 2.82 | 15.64 | 4.53 | 23.13 | 95.10 |
| 2.11 | 1.98 | 2.64 | 2.32 | 2.15 | 21.72 | 26.97 | 29.23 | |
| 0.93 | 1.24 | 1.89 | 3.90 | 10.24 | 47.96 | 20.52 | 57.31 | |
| Total Liabilities | 2.21 | 2.43 | 3.75 | 9.07 | 31.56 | 98.92 | 95.33 | 206.44 |
| 0.06 | 0.05 | 1.11 | 1.02 | 1.04 | 0.70 | 2.74 | 6.00 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.17 | 0.05 | 0.00 | 0.00 | 1.72 | 0.28 | 0.28 |
| 2.15 | 2.21 | 2.59 | 8.05 | 30.52 | 96.50 | 92.31 | 200.16 | |
| Total Assets | 2.21 | 2.43 | 3.75 | 9.07 | 31.56 | 98.92 | 95.33 | 206.44 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| 0.36 | 0.24 | 0.80 | 2.30 | -9.62 | 9.17 | -9.99 | |
| -0.08 | -0.11 | -0.96 | 0.58 | 0.04 | -1.17 | 0.82 | |
| -0.03 | -0.13 | 0.66 | 0.10 | 15.18 | 19.41 | 4.08 | |
| Net Cash Flow | 0.25 | 0.00 | 0.49 | 2.98 | 5.60 | 27.41 | -5.08 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 115.26 | 45.62 | 18.88 | 77.25 | 37.49 | 17.13 | 6.24 |
| Inventory Days | 519.85 | 438.46 | 731.17 | 381.58 | |||
| Days Payable | 5.53 | 0.00 | 378.01 | 22.59 | |||
| Cash Conversion Cycle | 115.26 | 45.62 | 18.88 | 591.57 | 475.95 | 370.29 | 365.23 |
| Working Capital Days | 2,670.26 | 958.12 | 270.60 | 81.59 | 310.21 | -55.69 | 56.88 |
| ROCE % | 3.24% | 1.31% | 146.80% | 8.68% | 39.29% | 39.60% |
Documents
Announcements
-
Board Meeting Intimation for The Unaudited (Standalone And Consolidated) Financial Results For The Quarter And Nine Months Ended On December 31, 2025.
30 Jan - Board meeting on Feb 06, 2026 to approve unaudited results for quarter/nine months ended Dec 31, 2025.
-
Announcement Under Regulation 30 (LODR)-Press Release /Media Release - Acquisition Of 22.487 Acres Of Strategic Land Near Samruddhi Mahamarg,
Nagpur With Revenue Potential Of Rs. 200 Crore.
30 Jan - Acquired 22.487 acres (9.10 ha) in Nagpur for Rs.27.00 Cr; estimated Rs.200 Cr revenue potential.
-
Purchase Of Total Land Admeasuring 9.10 Hectares (22.487 Acres) With A Revenue Potential Of Approx. Rs. 200 Crore At Nagpur, Maharashtra.
23 Jan - Acquired 9.10 hectares (22.487 acres) in Hingna, Nagpur; estimated Rs.200 Crore revenue potential (Jan 23, 2026).
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
23 Jan - Acquired 22.487 acres near Samruddhi Mahamarg, Nagpur; estimated Rs.200 crore revenue potential.
-
Announcement under Regulation 30 (LODR)-Acquisition
19 Jan - On Jan 19, 2026 acquired 50.01% of Mahashakti Coal Washeries for Rs.50,010; became subsidiary.
Business Overview:[1]
Kesar India is a real estate development company specializing in luxury residential, commercial, and leisure projects. The company is ISO 9001:2008 certified and a member of CREDAI, IGBC, NAREDCO, and BAI. It is focused on developing the Nagpur real estate market through various projects under six distinct business lines