KRBL Ltd

KRBL Ltd

₹ 358 3.10%
21 May 2:42 p.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

Market Leadership
The company is India’s largest exporter of branded basmati rice. Its India Gate brand is recognized as the world’s no. 1 basmati rice brand. It also has the largest rice milling plant in Punjab. It possesses the largest contact farming network coverage for rice [1] As of Q1 FY25, the company has a market share of 37% in the general trade and 45% in the modern trade of basmati packaged rice in India as per Nielsen. [2]

  • Market Cap 8,194 Cr.
  • Current Price 358
  • High / Low 361 / 226
  • Stock P/E 17.2
  • Book Value 229
  • Dividend Yield 1.06 %
  • ROCE 11.8 %
  • ROE 9.43 %
  • Face Value 1.00

Pros

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

Cons

  • The company has delivered a poor sales growth of 4.45% over past five years.
  • Company has a low return on equity of 12.5% over last 3 years.
  • Dividend payout has been low at 11.8% 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
987 1,228 1,319 1,536 1,280 1,414 1,214 1,438 1,318 1,199 1,270 1,682 1,442
825 997 1,035 1,257 1,136 1,163 1,020 1,260 1,140 1,082 1,148 1,487 1,219
Operating Profit 163 231 285 279 144 252 195 178 178 117 123 195 224
OPM % 16% 19% 22% 18% 11% 18% 16% 12% 14% 10% 10% 12% 16%
7 11 21 18 43 27 33 28 9 22 36 8 11
Interest 4 2 1 3 8 1 1 7 14 5 1 1 8
Depreciation 19 19 19 19 19 20 20 20 20 20 20 20 21
Profit before tax 147 222 285 275 160 257 207 179 153 114 138 182 207
Tax % 26% 26% 25% 25% 26% 24% 26% 25% 25% 24% 25% 27% 25%
109 164 213 205 118 195 153 134 114 87 103 133 154
EPS in Rs 4.63 6.99 9.05 8.73 5.01 8.27 6.70 5.85 4.98 3.78 4.49 5.79 6.74
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
2,882 3,143 3,360 3,145 3,246 4,120 4,499 3,992 4,211 5,365 5,385 5,594
2,441 2,617 2,913 2,502 2,472 3,271 3,629 3,170 3,549 4,425 4,582 4,919
Operating Profit 441 526 447 644 774 850 870 822 662 939 802 674
OPM % 15% 17% 13% 20% 24% 21% 19% 21% 16% 18% 15% 12%
20 2 61 10 18 15 23 23 43 92 97 61
Interest 76 81 67 55 69 68 62 24 13 15 24 15
Depreciation 58 53 50 61 68 64 73 72 74 76 79 81
Profit before tax 326 394 391 538 655 733 758 749 617 941 796 640
Tax % 22% 18% 25% 26% 34% 31% 26% 25% 26% 26% 25% 26%
255 322 293 399 434 503 558 559 459 701 596 476
EPS in Rs 10.84 13.67 12.45 16.97 18.46 21.37 23.71 23.74 19.52 29.78 26.03 20.80
Dividend Payout % 11% 12% 15% 12% 12% 12% 12% 15% 18% 3% 15% 17%
Compounded Sales Growth
10 Years: 6%
5 Years: 4%
3 Years: 10%
TTM: 4%
Compounded Profit Growth
10 Years: 4%
5 Years: -3%
3 Years: 1%
TTM: -20%
Stock Price CAGR
10 Years: 7%
5 Years: 14%
3 Years: 13%
1 Year: 24%
Return on Equity
10 Years: 15%
5 Years: 13%
3 Years: 12%
Last Year: 9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 24 24 24 24 24 24 24 24 24 24 23 23
Reserves 1,020 1,301 1,475 1,884 2,264 2,703 3,104 3,669 4,047 4,669 4,835 5,217
1,380 1,351 1,167 1,090 1,245 1,428 572 369 145 250 545 407
291 390 315 425 324 481 724 566 533 648 525 579
Total Liabilities 2,715 3,066 2,981 3,422 3,858 4,636 4,423 4,628 4,748 5,591 5,927 6,226
563 640 765 1,013 982 941 979 947 924 899 903 922
CWIP 14 114 100 2 2 1 12 9 2 16 13 21
Investments 6 7 13 10 9 8 6 19 21 31 115 351
2,131 2,306 2,103 2,397 2,864 3,687 3,425 3,653 3,801 4,645 4,896 4,932
Total Assets 2,715 3,066 2,981 3,422 3,858 4,636 4,423 4,628 4,748 5,591 5,927 6,226

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
-489 337 510 258 61 -115 1,212 384 561 -360 226 961
1 -231 -174 -208 -49 20 -54 -12 -206 206 -87 -523
391 -147 -332 -74 25 59 -1,148 -227 -322 5 -157 -252
Net Cash Flow -96 -42 4 -23 37 -35 10 145 32 -149 -18 186

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 36 39 17 27 28 35 19 18 25 19 21 31
Inventory Days 273 283 248 331 415 395 323 392 336 404 406 336
Days Payable 24 24 20 42 19 28 43 29 22 12 10 13
Cash Conversion Cycle 285 299 245 316 424 402 298 382 339 412 417 354
Working Capital Days 214 210 188 232 286 285 205 257 242 275 299 282
ROCE % 19% 19% 17% 21% 22% 21% 21% 20% 15% 21% 16% 12%

Shareholding Pattern

Numbers in percentages

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
59.96% 59.98% 59.98% 59.98% 59.98% 60.17% 60.17% 60.17% 60.17% 60.17% 60.17% 60.17%
3.31% 4.05% 4.94% 4.68% 4.32% 3.73% 3.31% 3.49% 4.14% 4.34% 5.34% 5.13%
0.24% 0.03% 0.03% 0.06% 0.09% 0.12% 0.14% 0.20% 0.40% 0.30% 0.27% 0.39%
6.09% 6.09% 6.09% 6.09% 6.09% 6.26% 6.26% 6.26% 6.26% 6.26% 6.26% 6.26%
30.40% 29.86% 28.97% 29.19% 29.53% 29.72% 30.10% 29.88% 29.04% 28.93% 27.95% 28.05%
No. of Shareholders 70,27863,41360,35357,05563,62571,16377,91585,7971,12,2651,26,8161,18,2981,15,029

* 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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