Pokarna Ltd
Pokarna established their Granite business in 1991. Their products today are renowned for its quality, uniqueness, design and variation. Their state-of-the-art manufacturing facilities are equipped with specialized Bretonstone® technology, used for producing Quartz surfaces. They have strong presence in 23 countries and a robust distribution network which enables them to maintain uninterrupted and steady supply of products. Their Quartz surfaces are marketed under the brand name Quantra, while their granite products are sold under the Pokarna brand. We also have apparel manufacturing & retailing business under STANZA brand. [1]
- Market Cap ₹ 2,336 Cr.
- Current Price ₹ 754
- High / Low ₹ 1,452 / 700
- Stock P/E
- Book Value ₹ 33.9
- Dividend Yield 0.08 %
- ROCE -1.41 %
- ROE -6.23 %
- Face Value ₹ 2.00
Pros
- Company has been maintaining a healthy dividend payout of 65.4%
Cons
- Stock is trading at 22.2 times its book value
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -17.8% over past five years.
- Company has a low return on equity of -3.24% over last 3 years.
- Working capital days have increased from 74.1 days to 115 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.
Peer comparison
Consumer Discretionary Consumer Durables Consumer Durables Granites & Marbles
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 164.49 | 188.73 | 190.48 | 144.63 | 153.97 | 144.69 | 76.86 | 76.69 | 69.35 | 57.92 | 37.97 | 28.91 | 24.01 | |
| 137.75 | 144.51 | 144.03 | 114.58 | 120.68 | 115.26 | 67.34 | 63.14 | 56.24 | 48.01 | 40.53 | 34.71 | 30.89 | |
| Operating Profit | 26.74 | 44.22 | 46.45 | 30.05 | 33.29 | 29.43 | 9.52 | 13.55 | 13.11 | 9.91 | -2.56 | -5.80 | -6.88 |
| OPM % | 16.26% | 23.43% | 24.39% | 20.78% | 21.62% | 20.34% | 12.39% | 17.67% | 18.90% | 17.11% | -6.74% | -20.06% | -28.65% |
| 1.27 | 5.30 | 4.45 | 5.21 | 2.32 | 1.36 | 0.83 | 2.24 | 0.60 | 1.12 | 4.09 | 9.63 | 7.35 | |
| Interest | 11.04 | 12.96 | 13.29 | 7.64 | 8.45 | 6.09 | 5.89 | 4.72 | 4.38 | 3.89 | 4.00 | 4.36 | 4.14 |
| Depreciation | 9.73 | 11.24 | 9.88 | 8.54 | 9.82 | 14.71 | 12.23 | 10.14 | 8.96 | 6.95 | 6.77 | 5.42 | 4.45 |
| Profit before tax | 7.24 | 25.32 | 27.73 | 19.08 | 17.34 | 9.99 | -7.77 | 0.93 | 0.37 | 0.19 | -9.24 | -5.95 | -8.12 |
| Tax % | 32.60% | 35.82% | 37.83% | 34.91% | 28.78% | 31.23% | -38.22% | 69.89% | 75.68% | -289.47% | -27.16% | 13.45% | |
| 4.88 | 16.25 | 17.25 | 12.42 | 12.34 | 6.88 | -4.81 | 0.29 | 0.08 | 0.74 | -6.74 | -6.76 | -6.02 | |
| EPS in Rs | 1.57 | 5.24 | 5.56 | 4.01 | 3.98 | 2.22 | -1.55 | 0.09 | 0.03 | 0.24 | -2.17 | -2.18 | -1.93 |
| Dividend Payout % | 25.41% | 11.45% | 35.94% | 14.98% | 15.07% | 27.03% | -38.67% | 641.38% | 2,325.00% | 251.35% | -27.60% | -27.51% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | -17% |
| 5 Years: | -18% |
| 3 Years: | -25% |
| TTM: | -9% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -13% |
| 3 Years: | % |
| TTM: | 39% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 16% |
| 5 Years: | 28% |
| 3 Years: | 24% |
| 1 Year: | -44% |
| Return on Equity | |
|---|---|
| 10 Years: | 3% |
| 5 Years: | -2% |
| 3 Years: | -3% |
| Last Year: | -6% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| 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 | 6.20 | 6.20 | 6.20 | 6.20 | 6.20 | 6.20 | 6.20 | 6.20 | 6.20 | 6.20 | 6.20 | 6.20 | 6.20 |
| Reserves | 87.67 | 99.95 | 109.73 | 116.57 | 127.12 | 132.28 | 125.34 | 123.97 | 122.99 | 122.26 | 113.57 | 105.17 | 98.88 |
| 108.91 | 100.39 | 82.45 | 85.60 | 80.06 | 55.64 | 50.30 | 52.85 | 47.87 | 44.80 | 42.77 | 41.46 | 40.44 | |
| 60.61 | 55.50 | 58.95 | 42.63 | 34.69 | 30.07 | 30.72 | 30.40 | 27.35 | 21.56 | 13.46 | 13.16 | 19.64 | |
| Total Liabilities | 263.39 | 262.04 | 257.33 | 251.00 | 248.07 | 224.19 | 212.56 | 213.42 | 204.41 | 194.82 | 176.00 | 165.99 | 165.16 |
| 85.30 | 83.34 | 86.87 | 112.37 | 113.43 | 100.61 | 95.90 | 87.17 | 80.29 | 73.61 | 62.81 | 55.07 | 52.72 | |
| CWIP | 1.56 | 4.37 | 13.34 | 1.88 | 1.56 | 2.19 | 2.34 | 1.28 | 0.79 | 0.21 | 0.00 | 0.00 | 0.00 |
| Investments | 61.16 | 61.16 | 61.16 | 61.16 | 61.16 | 61.16 | 61.16 | 61.16 | 61.16 | 61.16 | 61.16 | 61.16 | 61.16 |
| 115.37 | 113.17 | 95.96 | 75.59 | 71.92 | 60.23 | 53.16 | 63.81 | 62.17 | 59.84 | 52.03 | 49.76 | 51.28 | |
| Total Assets | 263.39 | 262.04 | 257.33 | 251.00 | 248.07 | 224.19 | 212.56 | 213.42 | 204.41 | 194.82 | 176.00 | 165.99 | 165.16 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -7.13 | 13.88 | 53.52 | 38.24 | 27.53 | 36.30 | 16.05 | 11.78 | 12.71 | 5.93 | 0.98 | -3.84 | |
| -10.89 | 7.31 | -19.33 | -24.80 | -9.94 | -1.62 | 0.19 | -1.54 | -0.96 | 2.44 | 5.69 | 11.15 | |
| 15.80 | -21.76 | -32.86 | -13.04 | -11.15 | -30.63 | -24.09 | -7.78 | -11.85 | -15.26 | -8.08 | -8.27 | |
| Net Cash Flow | -2.22 | -0.58 | 1.33 | 0.40 | 6.44 | 4.05 | -7.85 | 2.47 | -0.10 | -6.90 | -1.42 | -0.96 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| 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 | 76.93 | 75.37 | 61.89 | 51.96 | 53.17 | 32.84 | 36.61 | 52.78 | 40.58 | 58.92 | 62.39 | 60.98 |
| Inventory Days | 369.14 | 409.22 | 594.37 | 803.05 | 533.76 | 488.23 | 1,579.52 | 1,823.93 | 1,596.57 | 1,216.35 | 3,163.75 | |
| Days Payable | 169.90 | 196.60 | 210.15 | 282.37 | 182.96 | 124.91 | 451.79 | 348.38 | 190.61 | 193.49 | 512.50 | |
| Cash Conversion Cycle | 276.18 | 287.98 | 446.12 | 572.64 | 403.97 | 396.17 | 1,164.34 | 1,528.33 | 40.58 | 1,464.88 | 1,085.25 | 2,712.23 |
| Working Capital Days | -65.99 | 18.31 | -45.15 | -22.81 | -10.79 | -15.87 | -8.55 | 7.04 | 16.00 | 46.95 | 60.56 | 114.89 |
| ROCE % | 9.75% | 18.70% | 20.26% | 13.11% | 12.20% | 7.88% | -1.01% | 3.07% | 2.64% | 3.39% | -1.36% | -1.41% |
Documents
Announcements
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
5 Jan - Certificate under Regulation 74(5) of SEBI (DP) Regulation, 2018 for the quarter ended December 2025.
- Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011 1 Jan
- Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011 1 Jan
- Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011 31 Dec
- Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011 31 Dec
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 2012
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Financial Year 2011
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Concalls
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Aug 2025Transcript PPT REC
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Jun 2025Transcript PPT
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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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Nov 2024TranscriptAI SummaryPPT
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Aug 2024Transcript PPT REC
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT
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May 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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Jan 2022TranscriptAI SummaryPPT
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Nov 2021TranscriptAI SummaryPPT
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Aug 2021TranscriptAI SummaryPPT
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Jun 2019TranscriptAI SummaryPPT
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Feb 2019Transcript PPT
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Nov 2018Transcript PPT
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Aug 2018Transcript PPT
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Jun 2018TranscriptAI SummaryPPT
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Feb 2018Transcript PPT
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Dec 2017Transcript PPT
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Sep 2017Transcript PPT
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May 2017TranscriptPPT
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Feb 2017TranscriptPPT
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Nov 2016TranscriptPPT
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Aug 2016TranscriptPPT
Business Segments
1) Quartz Surfaces (97% in 9M FY25 vs 89% in FY22): [1] [2] The company’s WOS Pokarna Engineered Stone Ltd (PESL) is India’s largest exporter of premium quartz surfaces, offering 100+ quartz designs including Moon Walk, Champs-Elysees, Pirouette, La Dolce Vita, Pantheon, etc under the Quantra brand. [3] [4] The segment revenue grew by 31% YoY in 9M FY25, driven by a strong demand for high-value engineered stone products. [5]