Karnika Industries Ltd
Incorporated in 2017, Karnika Industries Ltd manufactures and deals with ready-made garments for children[1]
- Market Cap ₹ 801 Cr.
- Current Price ₹ 129
- High / Low ₹ 225 / 105
- Stock P/E 32.0
- Book Value ₹ 13.7
- Dividend Yield 0.07 %
- ROCE 22.8 %
- ROE 27.0 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 30.2%
Cons
- Stock is trading at 9.47 times its book value
- Company has high debtors of 159 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 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 | |
|---|---|---|---|---|---|
| 47 | 98 | 124 | 126 | 171 | |
| 45 | 89 | 109 | 108 | 145 | |
| Operating Profit | 2 | 10 | 15 | 18 | 26 |
| OPM % | 4% | 10% | 12% | 14% | 15% |
| 0 | 0 | 1 | 1 | 4 | |
| Interest | 1 | 2 | 5 | 5 | 5 |
| Depreciation | 0 | 0 | 0 | 1 | 1 |
| Profit before tax | 1 | 7 | 11 | 14 | 24 |
| Tax % | 35% | 37% | 26% | 26% | 25% |
| 1 | 5 | 8 | 10 | 18 | |
| EPS in Rs | 1.80 | 1.63 | 2.91 | ||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 20% |
| TTM: | 11% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 54% |
| TTM: | 26% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -2% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 31% |
| 3 Years: | 30% |
| Last Year: | 27% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.00 | 0.00 | 9 | 12 | 12 | 62 |
| Reserves | 4 | 19 | 9 | 41 | 59 | 23 |
| 16 | 22 | 52 | 52 | 60 | 66 | |
| 11 | 18 | 28 | 15 | 23 | 33 | |
| Total Liabilities | 31 | 59 | 98 | 120 | 155 | 184 |
| 1 | 1 | 2 | 5 | 7 | 7 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 9 | 16 |
| 30 | 58 | 96 | 115 | 139 | 160 | |
| Total Assets | 31 | 59 | 98 | 120 | 155 | 184 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| -6 | -15 | -11 | -6 | 4 | |
| -0 | -0 | -1 | -4 | -18 | |
| 7 | 15 | 14 | 20 | 4 | |
| Net Cash Flow | 1 | -1 | 2 | 10 | -10 |
| Free Cash Flow | -6 | -16 | -12 | -10 | 1 |
| CFO/OP | -247% | -155% | -53% | -14% | 39% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 129 | 100 | 118 | 148 | 159 |
| Inventory Days | 99 | 123 | 287 | 268 | 191 |
| Days Payable | 93 | 68 | 151 | 75 | 80 |
| Cash Conversion Cycle | 135 | 154 | 254 | 342 | 270 |
| Working Capital Days | 24 | 66 | 42 | 109 | 117 |
| ROCE % | 31% | 29% | 21% | 23% |
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
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Analysts/Institutional Investor Meet/Con. Call Updates
13 May 2026 - Earnings conference call for H2 and FY26 results on May 18, 2026 at 4:00 PM IST.
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General Updates
13 May 2026 - GoIndia Advisors LLP appointed as IR agency from May 13, 2026; EquiBridgeX Advisors resigned.
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Shareholders meeting
13 May 2026 - EGM resolutions passed: AoA alteration, convertible warrants on preferential basis, and appointment of Yash Jhawar as independent director.
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Shareholders meeting
11 May 2026 - EGM held on 11 May 2026; members considered warrants issue, AOA alteration, and independent director appointment.
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Copy of Newspaper Publication
8 May 2026 - Corrigendum to EGM notice for 11 May 2026 published in newspapers and emailed to shareholders.
Annual reports
Concalls
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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