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 ₹ 3,368 Cr.
- Current Price ₹ 1,203
- High / Low ₹ 1,287 / 530
- Stock P/E 113
- Book Value ₹ 89.0
- Dividend Yield 0.00 %
- ROCE 23.4 %
- ROE 20.0 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.8%
Cons
- Stock is trading at 13.5 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -2.74%
- Debtor days have increased from 67.7 to 124 days.
- Working capital days have increased from 125 days to 379 days
* 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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 15 | 53 | 108 | 176 | |
| 14 | 39 | 82 | 133 | |
| Operating Profit | 1 | 15 | 25 | 43 |
| OPM % | 7% | 28% | 24% | 24% |
| 0 | 1 | 2 | 3 | |
| Interest | 0 | 0 | 1 | 4 |
| Depreciation | 0 | 0 | 1 | 3 |
| Profit before tax | 1 | 15 | 26 | 40 |
| Tax % | 27% | 27% | 25% | 24% |
| 1 | 11 | 19 | 30 | |
| EPS in Rs | 0.32 | 4.39 | 7.83 | 10.67 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 126% |
| TTM: | 64% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 237% |
| TTM: | 60% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 272% |
| 1 Year: | 131% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 28% |
| Last Year: | 20% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Equity Capital | 4 | 25 | 25 | 29 |
| Reserves | 16 | 5 | 24 | 221 |
| 2 | 22 | 27 | 44 | |
| 10 | 48 | 35 | 145 | |
| Total Liabilities | 32 | 100 | 111 | 439 |
| 1 | 1 | 3 | 9 | |
| CWIP | 0 | 0 | 0 | 0 |
| Investments | 0 | 2 | 0 | 31 |
| 31 | 97 | 109 | 399 | |
| Total Assets | 32 | 100 | 111 | 439 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| -10 | 9 | -8 | -128 | |
| 0 | -1 | 1 | -52 | |
| 15 | 19 | 4 | 180 | |
| Net Cash Flow | 6 | 27 | -2 | 1 |
| Free Cash Flow | -10 | 9 | -11 | -133 |
| CFO/OP | -756% | 64% | -15% | -283% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | 37 | 22 | 58 | 124 |
| Inventory Days | 438 | 731 | 252 | 412 |
| Days Payable | 0 | 378 | 95 | 351 |
| Cash Conversion Cycle | 476 | 375 | 215 | 185 |
| Working Capital Days | 310 | -50 | 47 | 379 |
| ROCE % | 41% | 40% | 23% |
Insights
In beta| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Inventory - Stock of Land (Cost) ₹ in Lacs |
|
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| Number of Major Projects Number |
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| Inventory - Development Cost (WIP) ₹ in Lacs |
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| Completed Projects - Total Area sq. ft. |
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| Ongoing & Upcoming Projects - Total Area sq. ft. |
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| Project Completion Speed (ahead of schedule) Months |
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| Project Pipeline / Development Potential sq. ft. |
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Documents
Announcements
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
7h - Certificate under regulation 74 (5) of SEBI (Depositories and Participants) Regulations, 2018 for quarter ended on March 31, 2026
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
9h - Kesar India reports FY26 revenue of ₹176.5 Cr and PAT of ₹29.9 Cr, up 64% and 52%.
-
Statement Of Utilization Of The Proceeds Of The Preferential Issue Of The Company.
1d - No deviation in preferential issue proceeds utilization for quarter ended March 31, 2026.
-
Appointment Of Internal Auditor
1d - Board approved audited FY26 standalone and consolidated results; reappointed M.C. Asawa & Co. as internal auditors for FY27.
-
Board Meeting Outcome for Outcome Of Board Meeting Held On April 08, 2026
1d - Board approved FY26 audited standalone and consolidated results; reappointed M.C. Asawa & Co. as internal auditor.
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