Karnika Industries Ltd
Incorporated in 2017, Karnika Industries Ltd manufactures and deals with ready-made garments for children[1]
- Market Cap ₹ 781 Cr.
- Current Price ₹ 126
- High / Low ₹ 225 / 105
- Stock P/E 29.3
- Book Value ₹ 15.4
- Dividend Yield 0.08 %
- ROCE 28.3 %
- ROE 32.1 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 101% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 29.6%
- Debtor days have improved from 139 to 110 days.
Cons
- Stock is trading at 8.21 times its book value
* 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 Textiles Textiles & Apparels Garments & Apparels
Part of Nifty SME Emerge
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 47 | 98 | 124 | 126 | 171 | 224 | |
| 45 | 89 | 109 | 108 | 145 | 189 | |
| Operating Profit | 2 | 10 | 15 | 18 | 26 | 35 |
| OPM % | 4% | 10% | 12% | 14% | 15% | 16% |
| 0 | 0 | 1 | 1 | 4 | 9 | |
| Interest | 1 | 2 | 5 | 5 | 5 | 5 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 2 |
| Profit before tax | 1 | 7 | 11 | 14 | 24 | 37 |
| Tax % | 35% | 37% | 26% | 26% | 25% | 27% |
| 1 | 5 | 8 | 10 | 18 | 27 | |
| EPS in Rs | 1.80 | 1.63 | 2.91 | 4.30 | ||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 2% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 37% |
| 3 Years: | 22% |
| TTM: | 31% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 101% |
| 3 Years: | 48% |
| TTM: | 59% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -4% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 32% |
| 3 Years: | 30% |
| Last Year: | 32% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.00 | 0.00 | 9 | 12 | 12 | 62 |
| Reserves | 4 | 19 | 9 | 41 | 59 | 33 |
| 16 | 22 | 52 | 52 | 60 | 70 | |
| 11 | 18 | 28 | 15 | 23 | 23 | |
| Total Liabilities | 31 | 59 | 98 | 120 | 155 | 189 |
| 1 | 1 | 2 | 5 | 7 | 6 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 9 | 24 |
| 30 | 58 | 96 | 115 | 139 | 159 | |
| Total Assets | 31 | 59 | 98 | 120 | 155 | 189 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| -6 | -15 | -11 | -6 | 4 | 21 | |
| -0 | -0 | -1 | -4 | -18 | -25 | |
| 7 | 15 | 14 | 20 | 4 | 4 | |
| Net Cash Flow | 1 | -1 | 2 | 10 | -10 | -0 |
| Free Cash Flow | -6 | -16 | -12 | -10 | 1 | 21 |
| CFO/OP | -247% | -155% | -53% | -14% | 39% | 89% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 129 | 100 | 118 | 148 | 159 | 110 |
| Inventory Days | 99 | 123 | 287 | 268 | 191 | 130 |
| Days Payable | 93 | 68 | 151 | 75 | 80 | 42 |
| Cash Conversion Cycle | 135 | 154 | 254 | 342 | 270 | 197 |
| Working Capital Days | 24 | 66 | 42 | 109 | 117 | 104 |
| ROCE % | 31% | 29% | 21% | 23% | 28% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Actual Production Volume Lakh pieces |
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| Capacity Utilization % |
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| Employee Strength (Payroll) Number |
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| Total Manufacturing Capacity (Annual) Lakh pieces |
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| Geographic Reach (States) Number |
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| Monthly Production Capacity Units |
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| Total Number of Customers Number |
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| Kidcity Counter Goal (Post-Acquisition) Number |
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| Number of In-house Brands Number |
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| On-time Delivery Rate % |
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| Product Designs Offered Number |
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Extracted by Screener AI
Documents
Announcements
-
Allotment of Securities
18 June 2026 - Karnika allotted 39.66 lakh convertible warrants at ₹121 each to promoters and one non-promoter on 18 June 2026.
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Outcome of Board Meeting
18 June 2026 - Board allotted 39,66,860 convertible warrants at ₹121 each on 18 June 2026.
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Analysts/Institutional Investor Meet/Con. Call Updates
15 June 2026 - Management will attend GIA Flagship Conference 2026 on 24 June 2026 in Mumbai.
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Disclosure under SEBI Takeover Regulations
5 June 2026 - Promoter group filed Regulation 31(4) disclosure for FY ended March 31, 2026.
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Analysts/Institutional Investor Meet/Con. Call Updates
21 May 2026 - Submitted transcript of May 18, 2026 earnings call on Q4 and FY26 unaudited results.
Annual reports
Concalls
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May 2026TranscriptPPTREC
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Nov 2025TranscriptPPT
Business Overview:[1][2]
a) KIL is an ISO 14001:2015 certified manufacturing and trader of readymade garments for Babies, Boys and Girls and dress materials with its main products being Tops, Dresses, Denims, Leggings, Skirts and Ponchos
b) It manufactures products through job work.
c) Company does designing, preparation of sample, quality inspection, ironing and packing of garments