---
title: "Karnawati Innovation Limited (531671) — Share Price, Financials & Analysis"
symbol: "531671"
company: "Karnawati Innovation Limited"
canonical: "https://tapetide.com/stocks/531671"
bse_code: "531671"
sector: "Industrials"
industry: "Industrial Products"
generated_at: "2026-09-13T19:39:01.021Z"
---

# Karnawati Innovation Limited (531671)

Canonical page: https://tapetide.com/stocks/531671

## Company

- **BSE Code:** 531671
- **Sector:** Industrials
- **Industry:** Industrial Products
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Face Value:** ₹1
- **F&O Eligible:** No
- **Website:** bisilplastltd.com

## About

Incorporated in 1986, Karnawati Innovation Ltd manufactures and deals in plastic water bottles.[1]

## Latest Price

## Key Insights

### Strengths

- Company is almost debt free.

### Weaknesses

- Stock is trading at 22.8 times its book value
- The company has delivered a poor sales growth of -5.59% over past five years.
- Earnings include an other income of Rs.1.55 Cr.
- Company has high debtors of 283 days.
- Working capital days have increased from 141 days to 318 days

## Growth Rates

| Metric | 3Y | 5Y |
| --- | --- | --- |
| net income growth | 96% | 42% |
| revenue growth | -15% | -6% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.38 | 0.88 | 0.73 | 1.02 | 1.4 | 0.47 | 0 | 0 | 0 | 0 | 20 | 71.47 |
| Expenses | 0.39 | 0.84 | 0.68 | 0.94 | 1.34 | 0.46 | 0.07 | 0.01 | 0.13 | 0.14 | 18.39 | 69.62 |
| Operating Profit | -0.01 | 0.04 | 0.05 | 0.08 | 0.06 | 0.01 | -0.07 | -0.01 | -0.13 | -0.14 | 1.61 | 1.85 |
| OPM % | -2.63 | 4.55 | 6.85 | 7.84 | 4.29 | 2.13 | — | — | — | — | 8.05 | 2.59 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0.09 | 0 | 0.37 | 1.18 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.88 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0.03 | 0 | 0 | 0 | 0.03 | 0 | 0 | 0 |
| Profit before tax | -0.01 | 0.04 | 0.05 | 0.08 | 0.03 | 0.01 | 0.02 | -0.01 | 0.21 | 0.16 | 1.61 | 1.85 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 42.86 | 0 | 0 | 0 |
| Net Profit | -0.01 | 0.04 | 0.05 | 0.08 | 0.04 | 0.01 | 0.02 | -0.01 | 0.13 | 0.16 | 1.61 | 1.85 |
| EPS in Rs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.03 | 0.03 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0 | 0 | 0.06 | 1.24 | 0.98 | 1.51 | 4.03 | 4.03 | 0.93 | 91.47 |
| Expenses | 0.08 | 0.1 | 0.17 | 1.28 | 1.01 | 1.49 | 3.85 | 3.8 | 0.67 | 88.28 |
| Operating Profit | -0.08 | -0.1 | -0.11 | -0.04 | -0.03 | 0.02 | 0.18 | 0.23 | 0.26 | 3.19 |
| OPM % | — | — | -183.33 | -3.23 | -3.06 | 1.32 | 4.47 | 5.71 | 27.96 | 3.49 |
| Other Income | 0.06 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.55 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.88 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.03 | 0.03 | 0.03 |
| Profit before tax | -0.02 | -0.1 | -0.11 | -0.04 | -0.03 | 0.02 | 0.18 | 0.2 | 0.23 | 3.83 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 39.13 | — |
| Net Profit | -0.02 | -0.1 | -0.11 | -0.04 | -0.03 | 0.02 | 0.18 | 0.2 | 0.15 | 3.75 |
| EPS in Rs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.06 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 5.26 | 5.26 | 5.4 | 5.4 | 5.4 | 5.4 | 5.4 | 5.4 | 5.4 | 5.4 |
| Reserves | -4.48 | -4.58 | -4.68 | -4.73 | -4.76 | -4.74 | -4.57 | -4.36 | -4.22 | -2.44 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 |
| Other Liabilities | 0 | 0.01 | 0.03 | 0.37 | 0.25 | 0.51 | 0.56 | 2.52 | 0.55 | 17.74 |
| Total Liabilities | 0.78 | 0.69 | 0.75 | 1.04 | 0.89 | 1.17 | 1.39 | 3.56 | 1.73 | 20.71 |
| Fixed Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0.27 | 0.25 | 0.23 | 0.23 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20.09 |
| Other Assets | 0.78 | 0.69 | 0.75 | 1.04 | 0.89 | 1.17 | 1.12 | 3.31 | 1.5 | 0.39 |
| Total Assets | 0.78 | 0.69 | 0.75 | 1.04 | 0.89 | 1.17 | 1.39 | 3.56 | 1.73 | 20.71 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -0.11 | -0.02 | -0.09 | -0.1 | 0 | -0.09 | 0.04 | -0.31 | 0.01 | 0.04 |
| Cash from Investing Activity | 0.09 | 0.03 | 0.09 | 0.08 | 0 | 0 | 0 | -0.28 | 0 | -0.01 |
| Cash from Financing Activity | 0 | 0 | 0 | 0.15 | 0 | 0 | 0.22 | 0.38 | 0 | 0 |
| Net Cash Flow | -0.02 | 0 | 0 | 0.13 | 0 | -0.09 | 0.26 | -0.21 | 0.01 | 0.03 |
| Free Cash Flow | -0.11 | 0.35 | -0.09 | -0.1 | 0 | -0.09 | 0.04 | -0.59 | 0.01 | 0.03 |
| CFO/OP | 100 | 25 | 90 | 91 | 0 | 300 | 200 | -172 | 4 | 50 |

### Ratios

| Item | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | — | — | — | 121.67 | 88.31 | 89.39 | 113.61 | 86.04 | 249.07 | 282.58 |
| Inventory Days | — | — | — | 0 | 0 | 0 | 0 | 4.93 | 38.89 | 0 |
| Days Payable | — | — | — | — | — | — | — | 53.27 | 237.35 | — |
| Cash Conversion Cycle | — | — | — | 121.67 | 88.31 | 89.39 | 113.61 | 37.7 | 50.61 | 282.58 |
| Working Capital Days | — | — | — | 3528.33 | -17.66 | 0 | -7.25 | 42.57 | 61.59 | 317.9 |
| ROCE % | -16.09 | -2.53 | -13.7 | -15.71 | -5.76 | -4.58 | 3.08 | 24.16 | 21.39 | 20.72 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0% | 0% |
| Public | 99.96% | 99.96% | 99.96% | 99.96% | 99.96% | 99.96% | 99.96% | 99.95% | 100.01% | 100% |
| No. of Shareholders | 17659 | 17505 | 17580 | 17668 | 17746 | 17742 | 17632 | 26895 | 45520 | 45390 |

### Quarterly

| Category | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 99.96% | 99.96% | 99.95% | 99.95% | 99.96% | 100.01% | 99.99% | 100.01% | 100% | 100% | 100% | 100% |
| No. of Shareholders | 19438 | 20609 | 22732 | 26895 | 30691 | 30924 | 40640 | 45520 | 44945 | 45991 | 46674 | 45390 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 1 / 7 / 11

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 1.22 | Sell |
| EMA (10) | 1.21 | Sell |
| SMA (20) | 1.21 | Sell |
| EMA (20) | 1.23 | Sell |
| SMA (50) | 1.29 | Sell |
| EMA (50) | 1.3 | Sell |
| SMA (100) | 1.45 | Sell |
| EMA (100) | 1.41 | Sell |
| SMA (200) | 1.71 | Sell |
| EMA (200) | 1.5 | Sell |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 43.82 | Neutral |
| MACD (12,26,9) | -0.03 | Sell |
| Stochastic (14,3,3) | 40.24 | Neutral |
| ADX (14) | 12.37 | Neutral |
| Williams %R (14) | -68.75 | Neutral |
| ATR (14) | 0.09 | High Volatility |
| ROC (12) | 0.84 | Buy |
| Stoch RSI (14) | 53.59 | Neutral |
| UO (7,14,28) | 46.67 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Feb - Board meeting Feb 13, 2026 to approve unaudited Q3 results for quarter ended Dec 31, 2025 (limited review). | [Board Meeting Intimation for Intimation Of Meeting Of The Board Under The Regulation 29 Of SEBI (LODR), Regulations, 2015. 9 Feb - Board meeting Feb 13, 2026 to approve unaudited Q3 results for quarter ended Dec 31, 2025 (limited review).](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f0667977-8f61-427d-a715-80e67ccd6eeb.pdf) |
| 8 Apr - Submitted Regulation 74(5) certificate for quarter and year ended 31 March 2026. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 8 Apr - Submitted Regulation 74(5) certificate for quarter and year ended 31 March 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=488e0af7-d0ce-4885-b1ce-2a742d65ca67.pdf) |
| 8 Apr - Submitted Regulation 74(5) certificate for quarter and year ended 31 March 2026. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 8 Apr - Submitted Regulation 74(5) certificate for quarter and year ended 31 March 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/488e0af7-d0ce-4885-b1ce-2a742d65ca67.pdf) |
| 6 Jan - Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 for the Quarter ended 31st December, 2025 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 6 Jan - Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 for the Quarter ended 31st December, 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/56d4725e-c4bf-405a-a11c-ff8604ec16e0.pdf) |
| 5 Jun - 05 June 2026 board meeting cancelled as audited FY26 results are not finalized. | [Intimation Of Cancellation Of Board Meeting Scheduled To Be Held On Today I.E. 05Th June, 2026. 5 Jun - 05 June 2026 board meeting cancelled as audited FY26 results are not finalized.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=35a0cefb-eb0e-4242-a990-b86c5768e790.pdf) |
| 5 Feb - Newspaper Publication pertaining to Unaudited Standalone and Consolidated financial results of the Company for the quarter and nine months ended December 31, 2025. | [Announcement under Regulation 30 (LODR)-Newspaper Publication 5 Feb - Newspaper Publication pertaining to Unaudited Standalone and Consolidated financial results of the Company for the quarter and nine months ended December 31, 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4a43930a-317c-4e02-8723-29dd34365b86.pdf) |
| 4 Feb - Q3FY26 consolidated revenue ₹1,597.6 Cr (+17.4%), EBITDA ₹167.8 Cr; 9MFY26 revenue ₹4,575.5 Cr | [Announcement under Regulation 30 (LODR)-Press Release / Media Release 4 Feb - Q3FY26 consolidated revenue ₹1,597.6 Cr (+17.4%), EBITDA ₹167.8 Cr; 9MFY26 revenue ₹4,575.5 Cr](https://www.bseindia.com/xml-data/corpfiling/AttachHis/21ea72a1-ee8a-48aa-9ba5-dd010b82924b.pdf) |
| 4 Feb - Posted audio recording link of Q3/9M FY26 earnings conference call held Feb 4, 2026. | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 4 Feb - Posted audio recording link of Q3/9M FY26 earnings conference call held Feb 4, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e3cc9416-1675-44d0-837c-a78daa1e8036.pdf) |
| 30 May - Filed Annual Secretarial Compliance Report for year ended 31 March 2026; no non-compliances observed. | [Compliances-Reg.24(A)-Annual Secretarial Compliance 30 May - Filed Annual Secretarial Compliance Report for year ended 31 March 2026; no non-compliances observed.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b675e016-c703-453c-9cf0-e7c9102644fe.pdf) |
| 30 May - Board meeting postponed from 30 May 2026 to 5 June 2026 for FY2026 results approval. | [Intimation For The Postponement Of Board Meeting. 30 May - Board meeting postponed from 30 May 2026 to 5 June 2026 for FY2026 results approval.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d6589516-d467-4492-a886-951bd371e7a4.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Sep 2020 | [Concall - Sep 2020](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a1601fe4-c896-4e67-9290-09efcc59e871.pdf) |
| Oct 2024 | [Concall - Oct 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bfc10ecb-6bb1-498b-ac9e-40f1dd46a72c.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/69a5d00e-c180-47ee-98fa-e4ff9cb87749.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/534105ba-ef87-4294-bb9f-504fd47991f6.pdf) |
| Nov 2022 | [Concall - Nov 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9b6eb28c-37c0-4919-bde1-b4d5126b7f0f.pdf) |
| Nov 2021 | [Concall - Nov 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/780dbaee-8658-432c-b1c1-eff3fc8147d6.pdf) |
| Nov 2020 | [Concall - Nov 2020](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3dc56bd8-ea14-4331-ab7d-b21e8da0d8e8.pdf) |
| Nov 2018 | [Concall - Nov 2018](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/11/70b0d646-fd86-40eb-a188-3e0513f1cd1f.pdf) |
| May 2025 | [Concall - May 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/77ddb070-0a0d-42aa-a6f2-2c7caa9d5822.pdf) |
| May 2024 | [Concall - May 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/13e3ef23-e002-4dd3-835c-1bc98e90646b.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2011 from nse](https://archives.nseindia.com/annual_reports/AR_JISLJALEQS_2010_2011_13092011044949.zip) |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/63e634aa-a577-4c13-9081-9adb1fb8848e.pdf) |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/546b93d1-9e8a-47a9-98a2-2683eed73693.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0677654b-719e-4ad5-9637-c3085b2ab064.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bcb80bfa-e408-4398-a98a-79798ecbaf37.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/fb96c24b-4b83-49f9-9974-a344b17526c9.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2163cc89-276d-4425-9d09-37491c8c4878.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/500219/76470500219.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/531671/74278531671.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/500219/72182500219.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:39:01.021Z.