KRBL Ltd

KRBL Ltd

₹ 341 -1.74%
23 Feb - close price
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 7,801 Cr.
  • Current Price 341
  • High / Low 471 / 320
  • Stock P/E 13.0
  • Book Value 201
  • Dividend Yield 0.29 %
  • 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

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
1,121 974 1,016 1,054 1,154 987 1,228 1,319 1,536 1,280 1,414 1,213 1,437
911 765 823 855 1,045 825 997 1,035 1,257 1,136 1,162 1,019 1,259
Operating Profit 209 209 193 198 108 163 231 285 279 144 252 195 178
OPM % 19% 21% 19% 19% 9% 16% 19% 22% 18% 11% 18% 16% 12%
8 3 15 6 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 194 186 186 183 100 147 222 285 275 160 257 207 179
Tax % 25% 26% 24% 26% 27% 26% 26% 25% 25% 26% 24% 26% 25%
145 138 141 136 73 109 164 213 205 118 195 153 134
EPS in Rs 6.17 5.87 5.98 5.79 3.12 4.63 6.99 9.05 8.73 5.01 8.27 6.70 5.85
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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 2,882 3,143 3,360 3,145 3,246 4,120 4,499 3,992 4,211 5,363 5,344
1,372 1,758 2,441 2,617 2,913 2,502 2,472 3,271 3,629 3,170 3,549 4,424 4,576
Operating Profit 230 293 441 526 447 644 774 850 870 822 662 939 768
OPM % 14% 14% 15% 17% 13% 20% 24% 21% 19% 21% 16% 18% 14%
-19 19 20 2 61 10 18 15 23 23 43 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 95 184 326 394 391 538 655 733 758 749 617 941 803
Tax % 23% 30% 22% 18% 25% 26% 34% 31% 26% 25% 26% 26%
73 130 255 322 293 399 434 503 558 559 459 701 600
EPS in Rs 3.00 5.37 10.84 13.67 12.45 16.97 18.46 21.37 23.71 23.74 19.52 29.78 25.83
Dividend Payout % 10% 15% 11% 12% 15% 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: 19%
5 Years: 10%
3 Years: 8%
TTM: -13%
Stock Price CAGR
10 Years: 23%
5 Years: 1%
3 Years: 18%
1 Year: -3%
Return on Equity
10 Years: 18%
5 Years: 16%
3 Years: 15%
Last Year: 16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 693 805 1,020 1,301 1,475 1,884 2,264 2,703 3,104 3,669 4,047 4,669 4,587
938 870 1,380 1,351 1,167 1,090 1,245 1,428 572 369 145 250 87
353 310 291 390 315 425 324 481 724 566 533 648 631
Total Liabilities 2,009 2,010 2,715 3,066 2,981 3,422 3,858 4,636 4,423 4,628 4,748 5,591 5,328
418 443 563 640 765 1,013 982 941 979 947 924 899 893
CWIP 8 15 14 114 100 2 2 1 12 9 2 16 31
Investments 7 6 6 7 13 10 9 8 6 19 21 31 878
1,575 1,546 2,131 2,306 2,103 2,397 2,864 3,687 3,425 3,653 3,801 4,645 3,526
Total Assets 2,009 2,010 2,715 3,066 2,981 3,422 3,858 4,636 4,423 4,628 4,748 5,591 5,328

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
145 189 -489 337 510 258 61 -115 1,212 384 561 -360
-66 -82 1 -231 -174 -208 -49 20 -54 -12 -206 206
-68 -111 391 -147 -332 -74 25 59 -1,148 -227 -322 5
Net Cash Flow 11 -3 -96 -42 4 -23 37 -35 10 145 32 -149

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 36 39 17 27 28 35 19 18 25 19
Inventory Days 369 289 273 283 248 331 415 395 323 392 336 404
Days Payable 39 18 24 24 20 42 19 28 43 29 22 12
Cash Conversion Cycle 382 306 285 299 245 316 424 402 298 382 339 412
Working Capital Days 258 209 214 210 188 232 286 285 205 257 242 275
ROCE % 12% 15% 19% 19% 17% 21% 22% 21% 21% 20% 15% 21%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
59.46% 59.46% 59.46% 59.46% 59.80% 59.96% 59.98% 59.98% 59.98% 59.98% 60.17% 60.17%
3.57% 2.82% 2.72% 2.78% 2.56% 3.31% 4.05% 4.94% 4.68% 4.32% 3.73% 3.31%
0.76% 0.05% 0.01% 0.03% 0.15% 0.24% 0.03% 0.03% 0.06% 0.09% 0.12% 0.14%
6.09% 6.09% 6.09% 6.09% 6.09% 6.09% 6.09% 6.09% 6.09% 6.09% 6.26% 6.26%
30.13% 31.59% 31.72% 31.65% 31.40% 30.40% 29.86% 28.97% 29.19% 29.53% 29.72% 30.10%
No. of Shareholders 60,43165,12858,02764,27271,40970,27863,41360,35357,05563,62571,16377,915

* 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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