KSE Ltd

₹ 170 -3.46%

13 Nov - close price

kselimited.com BSE: 519421 NSE: KSE

About

Incorporated in 1963, KSE Ltd manufactures ready mixed cattle feed, extracts oil from oil cakes using solvent extraction method, and processes milk and milk products^[1]

Key Points

Business Overview:^[1]
KSE is a diversified agri-business company with operations spanning animal feed, oil cake processing and dairy products. It's Animal Feed Division manufactures cattle and poultry feed, while the Oil Cake Processing Division undertakes solvent extraction, oil cake processing and coconut oil refining. The Dairy Division produces milk and milk-based products, including ice cream.

Website BSE NSE

Market Cap ₹ 544 Cr.
Current Price ₹ 170
High / Low ₹ 261 / 166
Stock P/E 45.3
Book Value ₹ 102
Dividend Yield 7.36 %
ROCE 33.6 %
ROE 25.9 %
Face Value ₹ 1.00

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Pros

Company is almost debt free.
Stock is providing a good dividend yield of 7.36%.
Company has been maintaining a healthy dividend payout of 43.4%

Cons

The company has delivered a poor sales growth of 1.72% over past five years.
Promoter holding is low: 23.0%
Earnings include an other income of Rs.13.6 Cr.

* 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

Fast Moving Consumer Goods Fast Moving Consumer Goods Food Products Animal Feed

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	436.54	406.00	416.58	431.43	414.35	411.94	391.81	416.00	427.39	427.93	409.16	453.67	466.15
YoY Sales growth	+10.87%	-1.20%	+5.34%	+1.66%	-5.08%	+1.46%	-5.95%	-3.58%	+3.15%	+3.88%	+4.43%	+9.06%	+9.07%
	437.38	398.19	390.28	406.13	393.58	383.61	346.01	366.41	384.49	405.77	414.44	453.90	466.92
Operating Profit	-0.84	7.81	26.30	25.30	20.77	28.33	45.80	49.59	42.90	22.16	-5.28	-0.23	-0.77
OPM %	-0.19%	1.92%	6.31%	5.86%	5.01%	6.88%	11.69%	11.92%	10.04%	5.18%	-1.29%	-0.05%	-0.17%
	0.94	-3.96	1.58	1.16	4.14	1.62	3.65	4.54	3.63	3.73	3.38	4.03	2.41
Interest	0.75	0.98	0.57	0.57	0.60	0.62	0.64	0.65	0.65	0.65	0.65	0.67	0.67
Depreciation	1.05	1.33	1.34	1.10	1.26	1.58	1.69	1.52	2.14	2.19	2.14	1.83	1.86
Profit before tax	-1.70	1.54	25.97	24.79	23.05	27.75	47.12	51.96	43.74	23.05	-4.69	1.30	-0.89
Tax %	-16.47%	25.97%	27.11%	25.90%	25.68%	24.29%	26.17%	25.81%	24.85%	29.07%	-20.26%	26.92%	38.20%
	-1.42	1.15	18.93	18.37	17.13	21.02	34.79	38.55	32.87	16.35	-3.73	0.94	-1.23
EPS in Rs	-0.44	0.36	5.92	5.74	5.35	6.57	10.87	12.05	10.27	5.11	-1.17	0.29	-0.38
Raw PDF

Profit & Loss

Figures in Rs. Crores

	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
	900	925	1,047	1,304	1,209	1,429	1,543	1,670	1,610	1,683	1,650	1,680	1,757
Sales growth	+12%	+3%	+13%	+25%	-7%	+18%	+8%	+8%	-4%	+5%	-2%	+2%	+7%
	839	909	1,018	1,196	1,196	1,402	1,404	1,659	1,613	1,651	1,529	1,571	1,741
Operating Profit	60	16	29	108	13	26	139	11	-3	32	120	110	16
OPM %	7%	1.8%	2.8%	8%	1.1%	1.9%	9%	0.7%	-0.2%	1.9%	7%	7%	0.9%
	12	2	2	5	6	4	15	3	7	-0	11	15	14
Interest	2	2	2	1	1	2	2	2	2	3	2	3	3
Depreciation	6	4	3	4	3	3	2	3	4	5	6	8	8
Profit before tax	64	12	26	109	15	26	150	9	-3	24	123	114	19
Tax %	32%	38%	37%	36%	36%	28%	25%	29%	-20%	27%	26%	26%
	44	8	16	70	9	19	113	7	-2	18	91	84	12
EPS in Rs	13.63	2.37	5.11	21.76	2.95	5.91	35.29	2.05	-0.74	5.50	28.53	26.26	3.85
Dividend Payout %	37%	84%	59%	28%	51%	34%	28%	97%	-269%	55%	28%	48%

Compounded Sales Growth
10 Years:	6%
5 Years:	2%
3 Years:	1%
TTM:	7%

Compounded Profit Growth
10 Years:	29%
5 Years:	-5%
3 Years:	191%
TTM:	-91%

Stock Price CAGR
10 Years:	11%
5 Years:	-4%
3 Years:	3%
1 Year:	-31%

Return on Equity
10 Years:	22%
5 Years:	16%
3 Years:	24%
Last Year:	26%

Balance Sheet

Figures in Rs. Crores

	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	3	3	3	3	3	3	3	3	3	3	3	3	3
Reserves	69	68	83	141	127	139	240	220	211	222	294	346	322
	17	11	39	44	43	15	40	19	19	21	24	25	25
	49	32	30	42	25	33	51	39	35	32	36	41	41
Total Liabilities	138	116	156	230	197	190	335	281	268	278	357	415	391
	27	25	29	27	26	25	24	38	40	43	58	60	57
CWIP	0	0	0	0	0	1	2	2	3	6	4	2	2
Investments	0	0	35	83	43	66	116	47	66	37	113	150	113
	111	90	92	119	128	99	193	194	159	192	182	202	219
Total Assets	138	116	156	230	197	190	335	281	268	278	357	415	391

Cash Flows

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	36	-5	24	65	-13	35	34	4	34	-15	143	54
	12	-1	-41	-53	37	-10	-42	55	-32	24	-118	-9
	-14	-21	18	-8	-26	-35	13	-50	-8	-7	-19	-33
Net Cash Flow	35	-27	1	3	-1	-11	6	8	-6	2	6	11
Free Cash Flow	47	-7	17	62	-15	33	37	-13	21	-23	128	45
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	91%	11%	107%	92%	29%	149%	45%	118%	-1,152%	-39%	145%	80%

Ratios

	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	0	0	0	0	0	0	0	0	0	0	0	0
Inventory Days	33	33	30	31	30	24	50	40	31	38	30	38
Days Payable	8	4	3	5	3	2	6	5	4	2	2	3
Cash Conversion Cycle	25	30	27	26	28	22	44	36	27	36	28	35
Working Capital Days	4	16	6	5	12	14	24	28	22	29	19	26
ROCE %	72%	15%	27%	70%	10%	17%	66%	5%	-1%	13%	43%	34%

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

Mar 2026

Animal Feed Segment Revenue Share
%

xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx
x,xxx	xxx	x,xxx	x,xxx	x,xxx	x,xxx	xxx	x,xxx	x,xxx	x,xxx	x,xxx
		xxx	xxx	xxx	xxx		xxx	xxx	xxx	x,xxx	x,xxx
			xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx
			x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx
			x,xxx	x,xxx	x,xxx	xx,xxx	x,xxx	x,xxx	x,xxx	xx,xxx
		xx	xx						xx	xx

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Cattle Feed Sales Volume
tons

Ice Cream Sales Volume
kilo litres

Cattle Feed Dealers
dealers

De-oiled Cake Sales Volume
tons

Milk Sales Volume
kilo litres

Refined Coconut Oil Sales Volume
tons

Kerala Cattle Feed Market Share
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	24.53%	23.92%	23.34%	23.30%	23.24%	23.23%	23.10%	23.00%	22.46%	22.94%	22.95%	22.97%
	0.08%	0.08%	0.08%	0.08%	0.08%	0.08%	0.08%	0.08%	0.08%	0.08%	0.08%	0.00%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.02%
	75.39%	76.00%	76.57%	76.62%	76.68%	76.69%	76.82%	76.91%	77.46%	76.98%	76.96%	77.02%
No. of Shareholders	6,292	6,155	6,126	6,316	6,213	6,365	7,380	7,796	10,636	11,357	11,592	13,509

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	26.32%	25.63%	25.63%	25.60%	25.70%	25.62%	25.53%	23.92%	23.23%	22.94%	22.97%
	0.00%	0.08%	0.11%	0.11%	0.11%	0.11%	0.11%	0.08%	0.08%	0.08%	0.00%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%
	73.68%	74.29%	74.26%	74.29%	74.20%	74.27%	74.36%	76.00%	76.69%	76.98%	77.02%
No. of Shareholders	5,008	5,722	6,867	6,125	6,049	6,542	6,343	6,155	6,365	11,357	13,509

* 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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KSE Ltd

KSE Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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