KRBL Ltd
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)
- Market Cap ₹ 7,774 Cr.
- Current Price ₹ 340
- High / Low ₹ 495 / 226
- Stock P/E 12.0
- Book Value ₹ 240
- Dividend Yield 1.03 %
- ROCE 11.8 %
- ROE 9.42 %
- 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,882 | 3,143 | 3,360 | 3,145 | 3,246 | 4,120 | 4,499 | 3,992 | 4,211 | 5,365 | 5,385 | 5,594 | 6,015 | |
| 2,441 | 2,617 | 2,913 | 2,502 | 2,472 | 3,271 | 3,629 | 3,170 | 3,549 | 4,425 | 4,582 | 4,919 | 5,143 | |
| Operating Profit | 441 | 526 | 447 | 644 | 774 | 850 | 870 | 822 | 662 | 939 | 802 | 674 | 872 |
| OPM % | 15% | 17% | 13% | 20% | 24% | 21% | 19% | 21% | 16% | 18% | 15% | 12% | 14% |
| 20 | 2 | 61 | 10 | 18 | 15 | 23 | 23 | 43 | 92 | 97 | 61 | 99 | |
| Interest | 76 | 81 | 67 | 55 | 69 | 68 | 62 | 24 | 13 | 15 | 24 | 15 | 12 |
| Depreciation | 58 | 53 | 50 | 61 | 68 | 64 | 73 | 72 | 74 | 76 | 79 | 81 | 89 |
| Profit before tax | 326 | 394 | 391 | 538 | 655 | 733 | 758 | 749 | 617 | 941 | 796 | 640 | 869 |
| 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 | 647 | |
| 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 | 28.27 |
| 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: | 10% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 4% |
| 5 Years: | -3% |
| 3 Years: | 1% |
| TTM: | 48% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 12% |
| 3 Years: | 0% |
| 1 Year: | 34% |
| 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 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 23 | 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 | 5,460 |
| 1,380 | 1,351 | 1,167 | 1,090 | 1,245 | 1,428 | 572 | 369 | 145 | 250 | 545 | 407 | 71 | |
| 291 | 390 | 315 | 425 | 324 | 481 | 724 | 566 | 533 | 648 | 525 | 579 | 705 | |
| 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 | 6,258 |
| 563 | 640 | 765 | 1,013 | 982 | 941 | 979 | 947 | 924 | 899 | 903 | 922 | 927 | |
| CWIP | 14 | 114 | 100 | 2 | 2 | 1 | 12 | 9 | 2 | 16 | 13 | 21 | 36 |
| Investments | 6 | 7 | 13 | 10 | 9 | 8 | 6 | 19 | 21 | 31 | 115 | 351 | 1,797 |
| 2,131 | 2,306 | 2,103 | 2,397 | 2,864 | 3,687 | 3,425 | 3,653 | 3,801 | 4,645 | 4,896 | 4,932 | 3,499 | |
| 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 | 6,258 |
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 | 358 |
| Days Payable | 24 | 24 | 20 | 42 | 19 | 28 | 43 | 29 | 22 | 12 | 10 | 14 |
| Cash Conversion Cycle | 285 | 299 | 245 | 316 | 424 | 402 | 298 | 382 | 339 | 412 | 417 | 375 |
| Working Capital Days | 73 | 89 | 91 | 120 | 155 | 163 | 167 | 228 | 234 | 260 | 264 | 234 |
| ROCE % | 19% | 19% | 17% | 21% | 22% | 21% | 21% | 20% | 15% | 21% | 16% | 12% |
Documents
Announcements
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Disclosure Pursuant To Regulation 30 Of The SEBI (LODR) Regulations, 2015
10h - Arbitral award (26 Feb 2026) orders KRBL to pay SAR 30,990,241.25 and USD 2,151,399.15, KRBL to challenge.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
1d - Earnings Call Transcript of the Earnings Conference Call held on February 19, 2026
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 1d
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
23 Feb - CFO to meet Banyan Capital Advisors in a one-to-one physical meeting on March 2, 2026.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
19 Feb - Audio recording of KRBL Q3 FY26 earnings call (Q3 ended Dec 31, 2025) posted Feb 19, 2026.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Concalls
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT
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Sep 2025TranscriptPPT
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Aug 2025Transcript PPT REC
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May 2025TranscriptAI SummaryPPT
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Feb 2025Transcript PPT
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Nov 2024Transcript PPT
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Jul 2024TranscriptAI SummaryPPT
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT REC
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Nov 2023TranscriptAI SummaryPPT
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Aug 2023Transcript PPT
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Jun 2023Transcript PPT
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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Jun 2022Transcript PPT
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Feb 2022TranscriptAI SummaryPPT
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Nov 2021Transcript PPT
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Aug 2021TranscriptAI SummaryPPT
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Jul 2021Transcript PPT
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Feb 2021TranscriptAI SummaryPPT
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Feb 2021TranscriptAI SummaryPPT
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Feb 2021TranscriptAI SummaryPPT
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Dec 2020TranscriptPPT
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Nov 2020Transcript PPT
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Sep 2020TranscriptPPT
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Sep 2020Transcript PPT
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Jun 2020Transcript PPT
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May 2020TranscriptPPT
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May 2020TranscriptPPT
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Feb 2020Transcript PPT
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Nov 2019TranscriptPPT
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Nov 2019Transcript PPT
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Aug 2019Transcript PPT
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May 2019Transcript PPT
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Feb 2019Transcript PPT
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Feb 2019TranscriptAI SummaryPPT
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Feb 2019Transcript PPT
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Oct 2018TranscriptAI SummaryPPT
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May 2018TranscriptAI SummaryPPT
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Mar 2018TranscriptAI SummaryPPT
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]