Kaveri Seed Company Ltd
Incorporated in 1976, Kaveri Seed Company
Ltd is in the business of research, production, processing and marketing of various high quality hybrid seeds[1]
- Market Cap ₹ 4,776 Cr.
- Current Price ₹ 927
- High / Low ₹ 1,602 / 705
- Stock P/E 15.9
- Book Value ₹ 349
- Dividend Yield 0.54 %
- ROCE 20.1 %
- ROE 19.0 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Debtor days have improved from 36.4 to 28.1 days.
Cons
- The company has delivered a poor sales growth of 5.30% over past five years.
- Tax rate seems low
* 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,010 | 1,159 | 743 | 703 | 818 | 808 | 929 | 1,033 | 968 | 1,068 | 1,146 | 1,202 | 1,378 | |
| 789 | 850 | 556 | 564 | 597 | 596 | 676 | 735 | 765 | 816 | 860 | 911 | 1,041 | |
| Operating Profit | 221 | 310 | 188 | 140 | 222 | 212 | 253 | 298 | 203 | 252 | 286 | 291 | 337 |
| OPM % | 22% | 27% | 25% | 20% | 27% | 26% | 27% | 29% | 21% | 24% | 25% | 24% | 24% |
| 10 | 15 | 13 | -25 | 24 | 43 | 46 | 46 | 41 | 55 | 63 | 46 | 36 | |
| Interest | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 1 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 16 | 15 | 27 | 30 | 25 | 23 | 26 | 22 | 21 | 21 | 28 | 40 | 59 |
| Profit before tax | 214 | 310 | 173 | 84 | 220 | 231 | 273 | 321 | 223 | 286 | 321 | 297 | 313 |
| Tax % | 2% | 3% | 3% | 8% | 4% | 6% | 5% | 3% | 4% | 5% | 7% | 5% | |
| 209 | 301 | 167 | 77 | 211 | 217 | 260 | 311 | 213 | 273 | 300 | 282 | 301 | |
| EPS in Rs | 30.42 | 43.68 | 24.31 | 11.27 | 31.96 | 34.45 | 42.94 | 51.47 | 36.43 | 48.59 | 58.08 | 54.69 | 58.46 |
| Dividend Payout % | 16% | 17% | 10% | 0% | 9% | 9% | 7% | 8% | 11% | 8% | 9% | 9% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 0% |
| 5 Years: | 5% |
| 3 Years: | 8% |
| TTM: | 14% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | -1% |
| 5 Years: | 3% |
| 3 Years: | 11% |
| TTM: | -1% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 11% |
| 3 Years: | 22% |
| 1 Year: | -32% |
| Return on Equity | |
|---|---|
| 10 Years: | 19% |
| 5 Years: | 19% |
| 3 Years: | 19% |
| Last Year: | 19% |
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 | 14 | 14 | 14 | 14 | 13 | 13 | 12 | 12 | 12 | 11 | 10 | 10 | 10 |
| Reserves | 502 | 741 | 913 | 1,001 | 999 | 994 | 947 | 1,232 | 1,269 | 1,354 | 1,222 | 1,489 | 1,785 |
| 1 | 1 | 2 | 5 | 3 | 7 | 6 | 2 | 1 | 1 | 0 | 0 | 0 | |
| 512 | 402 | 432 | 509 | 449 | 536 | 612 | 714 | 596 | 683 | 815 | 1,150 | 847 | |
| Total Liabilities | 1,028 | 1,158 | 1,361 | 1,528 | 1,465 | 1,550 | 1,577 | 1,960 | 1,877 | 2,048 | 2,048 | 2,649 | 2,642 |
| 144 | 161 | 202 | 200 | 189 | 240 | 250 | 246 | 242 | 261 | 297 | 417 | 422 | |
| CWIP | 12 | 62 | 20 | 34 | 37 | 38 | 18 | 31 | 43 | 133 | 134 | 90 | 100 |
| Investments | 278 | 295 | 506 | 657 | 623 | 510 | 384 | 599 | 517 | 562 | 476 | 613 | 419 |
| 595 | 641 | 633 | 637 | 615 | 763 | 925 | 1,085 | 1,075 | 1,092 | 1,140 | 1,529 | 1,702 | |
| Total Assets | 1,028 | 1,158 | 1,361 | 1,528 | 1,465 | 1,550 | 1,577 | 1,960 | 1,877 | 2,048 | 2,048 | 2,649 | 2,642 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 193 | 145 | 246 | 218 | 148 | 128 | 192 | 252 | 110 | 297 | 389 | 197 | |
| -162 | -84 | -202 | -150 | 71 | 82 | 112 | -217 | 66 | -119 | 38 | -183 | |
| -38 | -61 | -42 | -56 | -226 | -219 | -301 | -29 | -170 | -176 | -425 | -18 | |
| Net Cash Flow | -8 | -0 | 3 | 11 | -7 | -9 | 3 | 5 | 7 | 1 | 3 | -3 |
| Free Cash Flow | 168 | 63 | 221 | 175 | 134 | 59 | 141 | 213 | 63 | 187 | 289 | 108 |
| CFO/OP | 87% | 47% | 131% | 156% | 67% | 66% | 81% | 88% | 59% | 129% | 142% | 76% |
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 | 24 | 37 | 39 | 44 | 38 | 38 | 46 | 37 | 42 | 46 | 36 | 28 |
| Inventory Days | 484 | 411 | 462 | 399 | 386 | 483 | 485 | 486 | 517 | 464 | 467 | 613 |
| Days Payable | 223 | 128 | 198 | 270 | 192 | 188 | 203 | 242 | 156 | 150 | 155 | 286 |
| Cash Conversion Cycle | 284 | 320 | 304 | 174 | 233 | 334 | 329 | 281 | 403 | 360 | 347 | 354 |
| Working Capital Days | 24 | 74 | 96 | 56 | 75 | 95 | 126 | 130 | 175 | 123 | 80 | 99 |
| ROCE % | 48% | 47% | 21% | 15% | 21% | 20% | 24% | 27% | 16% | 17% | 22% | 20% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cotton Seed Sales Volume Lakh Packets |
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| Hybrid Rice Sales Volume MT |
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| Maize Seed Sales Volume MT |
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| R&D Expenditure INR Crores |
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| Selection Rice Sales Volume MT |
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| Number of Distributors Count |
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| R&D Expenditure (Percentage of Turnover) % ・Standalone data |
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Documents
Announcements
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Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
1d - Kaveri Seed Company says it is not a large corporate under SEBI debt circular.
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Format of the Annual Disclosure to be made by an entity identified as a LC - Annexure B2
1d - Company confirms it is not a Large Corporate for FY 2025-26.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
1d - Filed Regulation 74(5) depository certificate for quarter ended 31 March 2026.
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Intimation Of Disclosure On Receipt Of Order From The Income Tax Department
2d - Income tax appeal for AY2023-24 allowed; Rs.69.6 crore demand set aside on 8 April 2026.
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Intimation Of Disclosure On Receipt Of Order From The Income Tax Department
2d - Income tax appeal for FY2022-23 allowed on 7 April 2026; Rs.56.21 crore demand set aside.
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
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from nse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
Concalls
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT
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May 2025Transcript PPT
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Feb 2025Transcript PPT
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Nov 2024Transcript PPT
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Aug 2024Transcript PPT
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Aug 2024TranscriptPPT
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May 2024Transcript PPT
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Nov 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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May 2022Transcript PPT
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Feb 2022Transcript PPT
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Dec 2021Transcript PPT
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Aug 2021Transcript PPT
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Jun 2021Transcript PPT
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Feb 2021Transcript PPT
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Nov 2020Transcript PPT
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Aug 2020Transcript PPT
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Aug 2020Transcript PPT
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May 2020Transcript PPT
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Mar 2020Transcript PPT
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Dec 2019Transcript PPT
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Sep 2019TranscriptPPT
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Aug 2019TranscriptAI SummaryPPT
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Jun 2019TranscriptPPT
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Jun 2019Transcript PPT
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Mar 2019TranscriptPPT
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Feb 2019TranscriptAI SummaryPPT
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Dec 2018Transcript PPT
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Sep 2018TranscriptPPT
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Aug 2018TranscriptAI SummaryPPT
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Jun 2018Transcript PPT
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May 2018TranscriptAI SummaryPPT
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Mar 2018TranscriptPPT
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Feb 2018TranscriptAI SummaryPPT
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Nov 2017TranscriptPPT
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Nov 2017Transcript PPT
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Oct 2017TranscriptAI SummaryPPT
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Sep 2017Transcript PPT
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Sep 2017Transcript PPT
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Jun 2017TranscriptPPT
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Apr 2017TranscriptAI SummaryPPT
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Feb 2017TranscriptPPT
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Dec 2016TranscriptPPT
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Oct 2016TranscriptPPT
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Jun 2016TranscriptPPT
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May 2016TranscriptAI SummaryPPT
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Mar 2016TranscriptPPT
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Dec 2015TranscriptPPT
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Aug 2015TranscriptPPT
Business Overview:[1][2]
[3]
a) KSCL is in the business of developing and distributing hybrid seeds.
b) It focuses on producing seeds
for various essential crops and vegetables.
c) Company is involved in both B2C and B2B markets and serves various customers, including farmers, retailers, and distributors, through its domestic and export business
d) The company conducts research in
diverse agro-climatic zones across the nation
through advanced biotechnological methods.
e) It develops seeds that not only yield higher crop output but also adapt effectively
to local environmental conditions
f) It has 125 plus high-quality hybrids
and varieties developed across the field
and vegetable crops
f) It is present in 12 Agro-Climatic zones
of India, which cover 18 states of India