Kalpataru Ltd
Founded in 1988, Kalpataru Limited is a real estate development company based in Mumbai, Maharashtra.[1]
- Market Cap ₹ 5,910 Cr.
- Current Price ₹ 288
- High / Low ₹ 458 / 257
- Stock P/E 1,977
- Book Value ₹ 199
- Dividend Yield 0.00 %
- ROCE 6.20 %
- ROE 1.26 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -16.0% over past five years.
- Company has a low return on equity of 3.31% over last 3 years.
- Contingent liabilities of Rs.7,324 Cr.
- Earnings include an other income of Rs.212 Cr.
- Working capital days have increased from 2,162 days to 3,117 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
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 678 | 605 | 613 | 344 | 293 | 283 | 219 | |
| 579 | 547 | 295 | 281 | 202 | 226 | 200 | |
| Operating Profit | 98 | 57 | 318 | 63 | 91 | 57 | 19 |
| OPM % | 14% | 9% | 52% | 18% | 31% | 20% | 9% |
| 184 | 263 | 12 | 328 | 271 | 254 | 212 | |
| Interest | 247 | 277 | 289 | 322 | 212 | 250 | 220 |
| Depreciation | 25 | 22 | 22 | 20 | 19 | 19 | 22 |
| Profit before tax | 10 | 22 | 19 | 49 | 131 | 41 | -11 |
| Tax % | 32% | 28% | 122% | 41% | 38% | 44% | |
| 7 | 16 | -4 | 29 | 82 | 23 | 1 | |
| EPS in Rs | 0.50 | 1.13 | -0.30 | 2.08 | 5.85 | 1.39 | 0.25 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -16% |
| 3 Years: | -23% |
| TTM: | -4% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 27% |
| 3 Years: | 73% |
| TTM: | -72% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 2% |
| 3 Years: | 3% |
| Last Year: | 1% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 140 | 140 | 140 | 140 | 140 | 167 | 206 |
| Reserves | 925 | 942 | 938 | 964 | 972 | 2,408 | 3,888 |
| 2,533 | 2,500 | 2,941 | 2,664 | 2,981 | 2,738 | 2,274 | |
| 392 | 443 | 363 | 391 | 443 | 1,135 | 1,264 | |
| Total Liabilities | 3,990 | 4,024 | 4,382 | 4,158 | 4,536 | 6,448 | 7,632 |
| 338 | 451 | 430 | 411 | 395 | 388 | 386 | |
| CWIP | 114 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 814 | 815 | 98 | 98 | 98 | 101 | 101 |
| 2,724 | 2,758 | 3,855 | 3,649 | 4,044 | 5,959 | 7,144 | |
| Total Assets | 3,990 | 4,024 | 4,382 | 4,158 | 4,536 | 6,448 | 7,632 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 222 | 513 | 689 | 237 | 24 | 205 | |
| 64 | -227 | -850 | 420 | -39 | -1,109 | |
| -278 | -329 | 150 | -619 | -3 | 710 | |
| Net Cash Flow | 8 | -42 | -12 | 38 | -18 | -194 |
| Free Cash Flow | 204 | 493 | 686 | 236 | 22 | 192 |
| CFO/OP | 254% | 951% | 227% | 343% | 72% | 364% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 206 | 178 | 162 | 161 | 162 | 140 |
| Inventory Days | 1,080 | 248 | 496 | 626 | ||
| Days Payable | 65 | 37 | 71 | 62 | ||
| Cash Conversion Cycle | 1,221 | 389 | 587 | 725 | 162 | 140 |
| Working Capital Days | 1,212 | 760 | 793 | 1,407 | 1,963 | 3,117 |
| ROCE % | 8% | 8% | 10% | 9% | 6% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Area Sold msf |
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| Average Realization INR per sq ft |
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| Pre-Sales Value INR Cr |
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| Sales Collections INR Cr |
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| Units Sold Nos |
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| Ongoing Projects Developable Area msf |
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| Completed Projects Area Deliveries msf |
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Documents
Announcements
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Disclosure With Regard To An Order Received By The Subsidiary From Joint Commissioner, CGST Office, Mumbai
2d - Subsidiary AREPL received Rs.2.51 crore GST demand plus equal penalty (total ~Rs.5.04 crore); dated Mar 30, 2026; appeal.
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Closure of Trading Window
30 Mar - Trading window closed from April 1, 2026 until 48 hours after audited results for quarter/FY ended March 31, 2026.
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Disclosure With Regard To Outcome Of Tax Litigations Of The Subsidiary - Agile Real Estate Private Limited
25 Mar - Agile Real Estate received CIT(A) orders (Mar 24, 2026) reducing tax additions; no material financial impact; appeals planned.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
12 Mar - Signed Andheri West redevelopment (~3 acres, ~0.4 msf carpet), GDV ~₹1,400 crore on March 12, 2026.
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Intimation Of Issue Of Corporate Guarantee To Subsidiary
12 Mar - KRVPL issued corporate guarantee on Mar 12, 2026 for up to Rs 90 crore RTL to ICICI Bank, 60-month tenor.
Concalls
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Feb 2026Transcript PPT
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Nov 2025Transcript PPT REC
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Aug 2025TranscriptAI SummaryPPT
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Jul 2025TranscriptAI SummaryPPT
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