Kesoram Industries Ltd

Kesoram Industries Ltd

₹ 171 1.24%
28 Mar - close price
About

Kesoram Industries Limited is a flagship company of B. K. Birla group. The Co is engaged in the manufacturing of Cement and Rayon, TP & Chemicals. [1]

Key Points

Business Segments
Cement: The cement business is the primary business of the Co operated under the brand name, ‘Birla Shakti Cement’. The products include Birla Shakti Cement PPC, Birla Shakti Cement 43 Grade OPC, Birla Shakti Cement 53 Grade OPC and Birla Shakti Cement Shakti+.
Rayon, TP and Chemicals: The Co operates this business through its subsidiary, Cygnet Industries Ltd, under the brand name, ‘Kesoram Rayon’ covering the sale of rayon, transparent paper and filament yarn. [1][2]

  • Market Cap 5,317 Cr.
  • Current Price 171
  • High / Low 180 / 56.0
  • Stock P/E
  • Book Value 12.3
  • Dividend Yield 0.00 %
  • ROCE 9.86 %
  • ROE -4.38 %
  • Face Value 10.0

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 31.7%

Cons

  • Stock is trading at 13.9 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -0.50% over past five years.
  • Promoters have pledged 51.6% of their holding.
  • Company's cost of borrowing seems high
  • Promoter holding has decreased over last 3 years: -9.75%

* 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

Sector: Cement Industry: Cement - North India

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
714 862 855 843 876 1,032 891 845 986 1,055 999 954 961
619 746 685 709 766 934 861 793 906 947 894 885 859
Operating Profit 96 115 170 134 110 98 30 52 80 108 105 69 102
OPM % 13% 13% 20% 16% 13% 9% 3% 6% 8% 10% 10% 7% 11%
20 -203 6 13 8 -12 26 15 -159 15 7 12 10
Interest 76 46 122 128 128 124 111 110 25 123 116 119 130
Depreciation 28 34 28 28 28 28 27 25 107 26 31 32 33
Profit before tax 11 -168 26 -9 -38 -66 -81 -67 -211 -25 -35 -71 -51
Tax % -378% 157% 50% -36% 15% 31% 25% 12% 77% -4% 8% 18% 5%
53 96 13 -12 -32 -46 -61 -59 -48 -26 -32 -58 -49
EPS in Rs 2.52 3.94 0.52 -0.49 -1.31 -1.90 -2.51 -1.90 -1.54 -0.84 -1.04 -1.88 -1.57
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
3,882 3,842 3,873 2,904 2,646 2,653 3,606 3,778 3,969
3,319 3,844 3,943 2,872 2,417 2,278 3,094 3,507 3,585
Operating Profit 562 -3 -70 32 229 375 512 271 384
OPM % 14% -0% -2% 1% 9% 14% 14% 7% 10%
80 172 79 57 40 -148 14 -103 44
Interest 121 283 443 357 344 276 502 450 488
Depreciation 112 136 146 108 113 118 112 103 123
Profit before tax 409 -250 -580 -375 -188 -167 -87 -385 -183
Tax % 7% 3% 0% 3% 0% 184% 11% 50%
379 -242 -578 -363 -188 140 -77 -194 -166
EPS in Rs 23.23 -13.90 -28.31 -17.15 -8.85 5.72 -3.18 -6.25 -5.33
Dividend Payout % 7% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: -1%
3 Years: 13%
TTM: 6%
Compounded Profit Growth
10 Years: %
5 Years: 14%
3 Years: 24%
TTM: -773%
Stock Price CAGR
10 Years: 12%
5 Years: 25%
3 Years: 42%
1 Year: 204%
Return on Equity
10 Years: %
5 Years: -22%
3 Years: 32%
Last Year: -4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 46 117 137 143 143 165 244 311 311
Reserves 1,300 680 307 -30 -240 33 266 163 71
Preference Capital 0 0 0 0 0 74 91 37
2,142 3,297 4,099 3,187 2,237 1,962 1,811 1,902 2,022
835 1,238 1,574 1,671 1,072 1,072 1,111 1,059 977
Total Liabilities 4,322 5,333 6,117 4,970 3,212 3,232 3,433 3,435 3,381
1,874 2,544 2,890 2,772 2,167 2,081 2,005 1,736 1,726
CWIP 865 730 790 800 31 33 49 65 53
Investments 49 71 720 82 70 77 74 82 82
1,534 1,988 1,717 1,317 944 1,041 1,305 1,551 1,520
Total Assets 4,322 5,333 6,117 4,970 3,212 3,232 3,433 3,435 3,381

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
370 79 177 775 787 259 324 131
-1,035 1,694 -1,137 354 -877 -150 -63 49
681 -2,117 662 -1,823 -218 201 -224 -248
Net Cash Flow 16 -343 -298 -693 -308 309 36 -68

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 36 50 54 74 27 42 32 36
Inventory Days 130 122 127 324 161 140 174 197
Days Payable 54 141 200 806 619 593 568 505
Cash Conversion Cycle 112 31 -19 -408 -431 -411 -362 -272
Working Capital Days 72 27 11 -57 -89 -34 -9 3
ROCE % -1% -0% 6% 15% 19% 10%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
45.97% 45.97% 45.97% 49.15% 49.15% 49.21% 43.40% 43.40% 43.40% 43.40% 43.40% 43.40%
0.03% 0.09% 0.21% 0.32% 0.48% 0.00% 0.41% 0.62% 3.12% 3.78% 4.42% 7.18%
15.78% 15.15% 13.81% 9.11% 9.09% 8.80% 12.79% 11.99% 11.40% 10.61% 10.78% 13.37%
0.21% 0.21% 0.21% 0.14% 0.14% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.03%
38.01% 38.58% 39.81% 41.28% 41.14% 41.99% 43.39% 43.99% 42.08% 42.20% 41.38% 36.01%
No. of Shareholders 87,66097,8231,02,3311,01,9481,08,5291,01,4341,01,48599,09096,04595,74088,38091,486

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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