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 ₹ 3,663 Cr.
- Current Price ₹ 712
- High / Low ₹ 1,097 / 643
- Stock P/E 14.3
- Book Value ₹ 394
- Dividend Yield 0.70 %
- ROCE 15.8 %
- ROE 15.0 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
Cons
- The company has delivered a poor sales growth of 6.14% over past five years.
- Tax rate seems low
- Working capital days have increased from 117 days to 171 days
* 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 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,159 | 743 | 703 | 818 | 808 | 929 | 1,033 | 968 | 1,068 | 1,146 | 1,202 | 1,392 | 1,304 | |
| Sales growth | +15% | -36% | -5% | +16% | -1% | +15% | +11% | -6% | +10% | +7% | +5% | +16% | -3% |
| 850 | 556 | 564 | 597 | 596 | 676 | 735 | 765 | 816 | 860 | 911 | 1,055 | 1,005 | |
| Operating Profit | 310 | 188 | 140 | 222 | 212 | 253 | 298 | 203 | 252 | 286 | 291 | 337 | 299 |
| OPM % | 27% | 25% | 20% | 27% | 26% | 27% | 29% | 21% | 24% | 25% | 24% | 24% | 23% |
| 15 | 13 | -25 | 24 | 43 | 46 | 46 | 41 | 55 | 63 | 46 | 29 | 22 | |
| Interest | 0 | 0 | 0 | 1 | 1 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 15 | 27 | 30 | 25 | 23 | 26 | 22 | 21 | 21 | 28 | 40 | 60 | 59 |
| Profit before tax | 310 | 173 | 84 | 220 | 231 | 273 | 321 | 223 | 286 | 321 | 297 | 306 | 262 |
| Tax % | 3% | 3% | 8% | 4% | 6% | 5% | 3% | 4% | 5% | 7% | 5% | 3% | |
| 301 | 167 | 77 | 211 | 217 | 260 | 311 | 213 | 273 | 300 | 282 | 296 | 256 | |
| EPS in Rs | 43.68 | 24.31 | 11.27 | 31.96 | 34.45 | 42.94 | 51.47 | 36.43 | 48.59 | 58.08 | 54.69 | 57.51 | 49.81 |
| Dividend Payout % | 17% | 10% | 0% | 9% | 9% | 7% | 8% | 11% | 8% | 9% | 9% | 9% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 6% |
| 3 Years: | 9% |
| TTM: | -3% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 4% |
| 5 Years: | -3% |
| 3 Years: | 4% |
| TTM: | -15% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 7% |
| 3 Years: | 6% |
| 1 Year: | -32% |
| Return on Equity | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 17% |
| 3 Years: | 18% |
| Last Year: | 15% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 14 | 14 | 14 | 13 | 13 | 12 | 12 | 12 | 11 | 10 | 10 | 10 | 10 |
| Reserves | 741 | 913 | 1,001 | 999 | 994 | 947 | 1,232 | 1,269 | 1,354 | 1,222 | 1,489 | 1,746 | 2,016 |
| 1 | 2 | 5 | 3 | 7 | 6 | 2 | 1 | 1 | 0 | 0 | 0 | 4 | |
| 402 | 432 | 509 | 449 | 536 | 612 | 714 | 596 | 683 | 815 | 1,150 | 997 | 619 | |
| Total Liabilities | 1,158 | 1,361 | 1,528 | 1,465 | 1,550 | 1,577 | 1,960 | 1,877 | 2,048 | 2,048 | 2,649 | 2,754 | 2,650 |
| 161 | 202 | 200 | 189 | 240 | 250 | 246 | 242 | 261 | 297 | 417 | 432 | 465 | |
| CWIP | 62 | 20 | 34 | 37 | 38 | 18 | 31 | 43 | 133 | 134 | 90 | 130 | 127 |
| Investments | 295 | 506 | 657 | 623 | 510 | 384 | 599 | 517 | 562 | 476 | 613 | 401 | 206 |
| 641 | 633 | 637 | 615 | 763 | 925 | 1,085 | 1,075 | 1,092 | 1,140 | 1,529 | 1,791 | 1,851 | |
| Total Assets | 1,158 | 1,361 | 1,528 | 1,465 | 1,550 | 1,577 | 1,960 | 1,877 | 2,048 | 2,048 | 2,649 | 2,754 | 2,650 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 145 | 246 | 218 | 148 | 128 | 192 | 252 | 110 | 297 | 389 | 197 | -6 | |
| -84 | -202 | -150 | 71 | 82 | 112 | -217 | 66 | -119 | 38 | -183 | 92 | |
| -61 | -42 | -56 | -226 | -219 | -301 | -29 | -170 | -176 | -425 | -18 | -64 | |
| Net Cash Flow | -0 | 3 | 11 | -7 | -9 | 3 | 5 | 7 | 1 | 3 | -3 | 21 |
| Free Cash Flow | 63 | 221 | 175 | 134 | 59 | 141 | 213 | 63 | 187 | 289 | 108 | -155 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 47% | 131% | 156% | 67% | 66% | 81% | 88% | 59% | 129% | 142% | 76% | 7% |
Ratios
Consolidated / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 37 | 39 | 44 | 38 | 38 | 46 | 37 | 42 | 46 | 36 | 28 | 29 |
| Inventory Days | 411 | 462 | 399 | 386 | 483 | 485 | 486 | 517 | 464 | 467 | 613 | 608 |
| Days Payable | 128 | 198 | 270 | 192 | 188 | 203 | 242 | 156 | 150 | 155 | 286 | 241 |
| Cash Conversion Cycle | 320 | 304 | 174 | 233 | 334 | 329 | 281 | 403 | 360 | 347 | 354 | 396 |
| Working Capital Days | 74 | 96 | 56 | 75 | 95 | 126 | 130 | 175 | 123 | 80 | 99 | 171 |
| ROCE % | 47% | 21% | 15% | 21% | 20% | 24% | 27% | 16% | 17% | 22% | 20% | 16% |
Insights
In beta| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cotton seed sales volume Lakh Packets ・Standalone data |
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| Hybrid rice seed sales volume MT ・Standalone data |
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| Maize seed sales volume MT ・Standalone data |
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| Vegetable seed sales volume MT ・Standalone data |
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| Cotton new product contribution to volumes % ・Standalone data |
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| Export revenue Rs Crore |
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| R&D Expenditure (Percentage of Turnover) % ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Dividend Updates
- Interim dividend for FY 2026-27 will be paid on 13 November 2026.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
- Transcript of Q2 & FY 2026-27 results conference call made on Thursday, 29th October, 2026.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Management commentary released for Q2 FY2026-27 standalone and consolidated results on 29 October 2026.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
- Copy of newspaper publication of the unaudited financial results of the Company for the quarter ended 30th September, 2026 published in Business Standard and Nava …
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
- Kaveri Seed announced Q2/H1FY27 results, 5/share interim dividend, and eight overseas subsidiaries.
Annual reports
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Annual Report 2026
from bse
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Annual Report 2025
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Annual Report 2024
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Annual Report 2023
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Annual Report 2022
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Annual Report 2021
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Annual Report 2020
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Annual Report 2019
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Annual Report 2018
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Annual Report 2017
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Annual Report 2016
from bse
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Annual Report 2015
from bse
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Annual Report 2014
from bse
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Annual Report 2013
from nse
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Annual Report 2013
from bse
Concalls
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Nov 2026Transcript PPT REC
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Aug 2026Transcript PPT REC
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May 2026Transcript PPT REC
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Nov 2024Transcript PPT
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Aug 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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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 2019Transcript
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Aug 2019PPT
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Jun 2019Transcript
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Jun 2019Transcript PPT
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Mar 2019Transcript
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Feb 2019PPT
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Dec 2018Transcript PPT
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Sep 2018Transcript
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Aug 2018PPT
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Jun 2018Transcript PPT
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May 2018PPT
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Mar 2018Transcript
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Feb 2018PPT
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Nov 2017Transcript
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Nov 2017Transcript PPT
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Oct 2017PPT
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Sep 2017Transcript PPT
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Sep 2017Transcript PPT
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Jun 2017Transcript
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Apr 2017PPT
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Feb 2017Transcript
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Dec 2016Transcript
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Oct 2016Transcript
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Jun 2016Transcript
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May 2016PPT
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Mar 2016Transcript
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Dec 2015Transcript
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Aug 2015Transcript
Business Overview:[1]
a) Kaveri develops crop-specific and region-specific hybrids through conventional breeding, biotechnology and multi-location field trials, focusing on yield improvement, disease resistance and adaptability to local climatic conditions.
b) The company serves farmers through B2B and B2C distribution channels, with seed production undertaken through a contract-grower network across different agro-climatic regions.
c) Non-cotton crops account for approx. 76% of H1FY27 revenue, reducing dependence on cotton. New-generation hybrids are increasingly contributing to cotton and maize sales.[2]