KRBL Ltd

KRBL Ltd

₹ 300 0.67%
24 Apr 11:26 a.m.
About

KRBL is worlds leading basmati rice producer and has fully integrated operations in every aspect of basmati value chain, right from seed development, contract farming, procurement of paddy, storage, processing, packaging, branding and marketing.(Source : 202003 Annual Report Page No:181)

Key Points

India’s first integrated rice company[1] With a 120-year heritage, KRBL is one of the major producers of rice products (both basmati and non-basmati rice), further it is engaged in the production of milling by-products like bran oil, furfural, rice bran, and de-oiled cakes.

  • Market Cap 6,863 Cr.
  • Current Price 300
  • High / Low 471 / 276
  • Stock P/E 11.5
  • Book Value 201
  • Dividend Yield 0.34 %
  • ROCE 20.9 %
  • ROE 16.0 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • The company has delivered a poor sales growth of 10.6% over past five years.
  • Dividend payout has been low at 12.0% of profits over last 3 years

* 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: FMCG Industry: Food - Processing - Indian

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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
1,121 974 1,016 1,054 1,154 987 1,228 1,319 1,536 1,280 1,414 1,213 1,437
911 764 822 855 1,045 825 997 1,034 1,257 1,136 1,162 1,019 1,259
Operating Profit 210 210 193 199 108 162 232 285 279 144 252 194 178
OPM % 19% 22% 19% 19% 9% 16% 19% 22% 18% 11% 18% 16% 12%
8 3 15 5 15 7 11 21 18 43 27 33 28
Interest 5 8 4 2 4 4 2 1 3 8 1 1 7
Depreciation 18 18 18 19 19 19 19 19 19 19 20 20 20
Profit before tax 195 187 186 184 100 147 222 285 274 160 257 207 179
Tax % 25% 26% 24% 26% 27% 26% 26% 25% 25% 26% 24% 26% 25%
146 138 141 137 73 109 164 213 205 118 195 153 134
EPS in Rs 6.19 5.88 5.99 5.80 3.12 4.63 6.99 9.05 8.72 5.00 8.27 6.69 5.84
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,602 2,051 2,763 3,059 3,345 3,144 3,246 4,120 4,499 3,992 4,211 5,363 5,344
1,372 1,756 2,359 2,571 2,895 2,495 2,467 3,269 3,627 3,168 3,548 4,424 4,576
Operating Profit 230 295 403 488 450 649 779 850 872 824 663 939 768
OPM % 14% 14% 15% 16% 13% 21% 24% 21% 19% 21% 16% 18% 14%
-20 38 67 -1 92 6 40 15 22 22 42 92 131
Interest 72 78 76 81 67 55 69 68 62 24 13 15 18
Depreciation 45 51 58 53 50 61 68 64 73 72 74 76 79
Profit before tax 93 205 337 353 425 539 682 733 759 751 618 941 802
Tax % 24% 27% 21% 20% 23% 26% 32% 31% 26% 25% 26% 26%
71 150 265 281 327 401 462 503 559 560 460 701 599
EPS in Rs 2.93 6.22 11.27 11.93 13.91 17.04 19.62 21.38 23.77 23.80 19.54 29.77 25.80
Dividend Payout % 10% 13% 11% 14% 14% 12% 12% 12% 12% 15% 18% 3%
Compounded Sales Growth
10 Years: 10%
5 Years: 11%
3 Years: 6%
TTM: 5%
Compounded Profit Growth
10 Years: 17%
5 Years: 9%
3 Years: 8%
TTM: -13%
Stock Price CAGR
10 Years: 18%
5 Years: -3%
3 Years: 18%
1 Year: -22%
Return on Equity
10 Years: 19%
5 Years: 16%
3 Years: 15%
Last Year: 16%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 24 24 24 24 24 24 24 24 24 24 24 24 23
Reserves 645 774 996 1,235 1,437 1,848 2,256 2,694 3,095 3,662 4,040 4,661 4,578
938 870 1,380 1,351 1,167 1,090 1,245 1,428 572 369 145 250 87
353 309 288 389 314 424 324 481 723 565 531 647 630
Total Liabilities 1,960 1,978 2,687 2,999 2,942 3,386 3,849 4,627 4,413 4,619 4,739 5,581 5,318
414 438 558 635 760 1,003 971 930 967 935 911 886 879
CWIP 8 15 14 114 100 2 2 1 12 9 2 16 31
Investments 11 11 11 11 17 14 13 12 10 23 25 35 883
1,528 1,514 2,104 2,240 2,065 2,367 2,862 3,685 3,424 3,652 3,801 4,644 3,525
Total Assets 1,960 1,978 2,687 2,999 2,942 3,386 3,849 4,627 4,413 4,619 4,739 5,581 5,318

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
141 170 -212 324 432 265 36 -115 1,212 384 561 -360
-62 -58 -125 -231 -85 -202 -24 20 -54 -12 -206 206
-68 -116 388 -150 -335 -78 25 60 -1,148 -227 -322 5
Net Cash Flow 11 -3 51 -57 11 -15 36 -36 10 145 32 -149

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 52 35 37 38 17 27 28 35 19 18 25 19
Inventory Days 369 289 283 287 249 331 414 395 323 392 336 404
Days Payable 39 18 25 24 20 42 19 28 44 29 22 12
Cash Conversion Cycle 382 306 295 301 246 316 423 402 298 382 339 412
Working Capital Days 247 204 220 210 186 228 285 285 205 257 242 275
ROCE % 12% 17% 20% 17% 19% 21% 23% 21% 21% 20% 15% 21%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
59.46% 59.46% 59.46% 59.80% 59.96% 59.98% 59.98% 59.98% 59.98% 60.17% 60.17% 60.17%
2.82% 2.72% 2.78% 2.56% 3.31% 4.05% 4.94% 4.68% 4.32% 3.73% 3.31% 3.49%
0.05% 0.01% 0.03% 0.15% 0.24% 0.03% 0.03% 0.06% 0.09% 0.12% 0.14% 0.20%
6.09% 6.09% 6.09% 6.09% 6.09% 6.09% 6.09% 6.09% 6.09% 6.26% 6.26% 6.26%
31.59% 31.72% 31.65% 31.40% 30.40% 29.86% 28.97% 29.19% 29.53% 29.72% 30.10% 29.88%
No. of Shareholders 65,12858,02764,27271,40970,27863,41360,35357,05563,62571,16377,91585,797

* 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.

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