Kalpataru Ltd
KALPATARU NSE
Kalpataru Ltd
RealtyNSE: KALPATARU BSE: 544423 Residential Commercial Projects
Key Fundamentals
MicrocapResidential Commercial ProjectsRealtyMarket Cap
₹5,808 Cr
Volatility
Moderate
P/E Ratio
49.58
EBITDA
₹223 Cr
Return on Equity
1.96%
Debt to Equity
2.23
Book Value
₹199.9
52W High
₹429.3
52W Low
₹258
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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38 extracted metrics + investor summaries across FY20–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
3- Company is expected to give good quarter
- Company has delivered good profit growth of 29.1% CAGR over last 5 years
- Debtor days have improved from 91.8 to 68.3 days.
Weaknesses
4- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of -0.20% over last 3 years.
- Company might be capitalizing the interest cost
- Earnings include an other income of Rs.121 Cr.
Growth Rate
Revenue Growth
51.69% ↗
Net Income Growth
223.89% ↗
Cash Flow Change
73.73% ↗
ROE
94.06% ↗
ROCE
13.17% ↗
EBITDA Margin (Avg.)
-12.36% ↗
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 43d agoAI opinion · based on fundamentals
Risk high
Kalpataru Ltd trades at a market cap of Rs.6,302 Cr with a PE of 79.8x. The company has shown strong TTM sales growth of 55% and TTM profit growth of 342%, but carries a negative 3-year average ROE of -0.09% and pays no dividend despite reporting profits.
Bull Case 7
- TTM sales growth of 55% indicates a sharp revenue acceleration after a 3-year compounded sales decline of -2%
- TTM profit growth of 342% signals a significant turnaround in earnings from prior loss-making or low-profit periods
- 5-year compounded profit growth of 29.7% CAGR demonstrates sustained long-term earnings improvement
- Debtor days improved from 105 to 68.3 days, reflecting better working capital management and faster collections
- 5-year compounded sales growth of 25% shows the business has scaled meaningfully over a longer horizon
- Price-to-book ratio of 1.55x is relatively modest, suggesting the stock is not excessively priced relative to book value
- Company is expected to deliver a good upcoming quarter based on available estimates, suggesting momentum continuation
Bear Case 8
- PE of 79.8x is elevated, implying the market is pricing in very high future growth that may not materialize
- 3-year average ROE of -0.09% indicates the company has destroyed shareholder value over the medium term
- Zero dividend yield despite reporting repeated profits raises concerns about capital allocation and cash flow quality
- Earnings include other income of Rs.93.4 Cr, meaning core operating profit may be significantly lower than reported
- Stock has declined 26% over the past 1 year, indicating significant negative market sentiment
- Company might be capitalizing interest costs, which could overstate reported profits and asset values
- 3-year compounded sales growth of -2% suggests the recent 55% TTM surge may not be sustainable
- 5-year ROE of -4% shows prolonged inability to generate adequate returns on equity capital
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 43d ago Headwinds 3
- ₹9.20 crore tax order sustained Jul 4
Subsidiary Abacus Real Estate received a tax order of Rs 9.20 crore for AY 2013-14, with CIT(A) dismissing the appeal and sustaining additions to income.
- GST demands on Thane unit Jun 18
Kalpataru Properties (Thane) filed appeals against GST demands totalling Rs 443.18 lacs (Rs 396.49 lacs + Rs 46.69 lacs) for FY 2017-18.
- DCIT tax appeals for Agile Jun 13
DCIT filed appeals with ITAT against subsidiary Agile Real Estate for AY 2022-23 and 2023-24, which Kalpataru will contest.
Positives 4
- Q4 net profit surges 92.63% Jun 16
Kalpataru Projects International reported consolidated net profit of ₹434.21 crore in Q4 FY26, up 92.63% YoY, with revenue rising 10.06% to ₹7,777.90 crore.
- Stock hits 52-week high Jun 16
Shares surged 5% to ₹1,356.90, a 52-week high, with YTD gains of 12% and market cap of ₹23,105.53 crore.
- ₹2,002 crore new orders won Jun 16
Company secured new orders of approximately ₹2,002 crore as of June 1 filing, spanning power T&D overseas, buildings & factories, and railways in India.
- ₹11/share final dividend declared Jun 16
Board fixed June 29 as record date for final dividend of ₹11 per share (550%), payable by August 13, 2026.
Neutral 1
- 45th AGM set for July 15 Jun 16
AGM scheduled for July 15, 2026 at 12:30 PM via video conferencing, with July 8 as cut-off date for voting eligibility.
TL;DR: Kalpataru Projects is delivering strong operational results with Q4 profit nearly doubling YoY, robust order wins of ₹2,002 crore, and a generous dividend payout driving the stock to 52-week highs. Risks are limited to legacy tax disputes across subsidiaries totalling under ₹15 crore, which are manageable relative to the company's scale. The trend is clearly improving with momentum in earnings, order book, and share price all pointing upward heading into FY27.
Quarterly Results
| Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 492 | 530 | 506 | 588 | 597 | 443 | 794 | 505 | 1,694 | 472 |
| Expenses | 484 | 527 | 471 | 550 | 617 | 471 | 788 | 580 | 1,478 | 518 |
| Operating Profit | 8 | 3 | 35 | 38 | -20 | -28 | 6 | -75 | 216 | -46 |
| OPM % | 1.5% | 0.6% | 7% | 6% | -3.3% | -6% | 0.8% | -15% | 13% | -10% |
| Other Income | 43 | 14 | 28 | 32 | 70 | 14 | 22 | 23 | 35 | 42 |
| Interest | 10 | 5 | 6 | 66 | 11 | 32 | 12 | 15 | 11 | 20 |
| Depreciation | 10 | 9 | 9 | 9 | 11 | 10 | 11 | 12 | 14 | 10 |
| PBT | 31 | 4 | 48 | -4 | 29 | -56 | 5 | -79 | 226 | -35 |
| Tax % | 42% | 112% | 42% | 448% | 29% | -8% | -4% | -15% | 14% | -17% |
| Net Profit | 18 | 0 | 28 | -23 | 20 | -52 | 5 | -67 | 194 | -29 |
| EPS in Rs | 1.74 | -0.05 | 2.16 | -1.57 | 0.84 | -2.4 | 0.26 | -3.05 | 9.74 | -1.29 |
Profit & Loss
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,359 | 1,111 | 990 | 3,633 | 1,930 | 2,222 | 3,436 | 3,465 |
| Expenses | 1,257 | 1,040 | 1,038 | 3,713 | 2,058 | 2,165 | 3,317 | 3,363 |
| Operating Profit | 103 | 71 | -48 | -80 | -129 | 57 | 119 | 101 |
| OPM % | 8% | 6% | -4.9% | -2.2% | -7% | 2.5% | 3.5% | 2.9% |
| Other Income | 238 | 288 | 248 | 83 | 110 | 110 | 93 | 121 |
| Interest | 359 | 381 | 306 | 130 | 34 | 53 | 70 | 59 |
| Depreciation | 38 | 33 | 33 | 32 | 33 | 38 | 46 | 47 |
| PBT | -57 | -55 | -140 | -159 | -86 | 76 | 96 | 117 |
| Tax % | -19% | -3% | -6% | 45% | 26% | 67% | 17% | — |
| Net Profit | -43 | -57 | -131 | -229 | -108 | 25 | 80 | 103 |
| EPS in Rs | -3.1 | -4.06 | -9.37 | -14.56 | -6.8 | 1.29 | 4.55 | 5.66 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 140 | 140 | 140 | 140 | 140 | 167 | 206 |
| Reserves | 1,224 | 1,164 | 1,294 | 1,076 | 880 | 2,314 | 3,911 |
| Borrowings | 6,027 | 7,374 | 10,366 | 9,680 | 10,688 | 10,172 | 9,168 |
| Other Liabilities | 966 | 1,172 | 1,616 | 1,639 | 2,163 | 3,722 | 4,398 |
| Total Liabilities | 8,356 | 9,850 | 13,415 | 12,534 | 13,871 | 16,375 | 17,682 |
| Fixed Assets | 647 | 725 | 699 | 682 | 639 | 767 | 702 |
| CWIP | 214 | 110 | 121 | 131 | 146 | 105 | 109 |
| Investments | 734 | 735 | 77 | 86 | 93 | 116 | 187 |
| Other Assets | 6,761 | 8,280 | 12,519 | 11,636 | 12,993 | 15,387 | 16,685 |
| Total Assets | 8,356 | 9,850 | 13,415 | 12,534 | 13,871 | 16,375 | 17,682 |
Cash Flow
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Operating | 871 | 757 | 402 | 2,139 | 376 | 488 | 848 |
| Investing | 53 | -41 | 104 | -32 | -132 | -35 | -142 |
| Financing | -771 | -645 | -422 | -2,101 | -300 | -644 | -577 |
| Net Cash Flow | 153 | 71 | 84 | 6 | -56 | -190 | 130 |
| Free Cash Flow | 863 | 744 | 385 | 2,123 | 391 | 449 | 742 |
| CFO/OP | 893 | 1,108 | -947 | -2,670 | -317 | 904 | 816 |
Ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 147 | 187 | 249 | 48 | 118 | 89 | 68 |
| Inventory Days | 1,458 | 2,186 | 4,452 | — | — | — | — |
| Days Payable | 98 | 101 | 122 | — | — | — | — |
| Cash Conversion Cycle | 1,507 | 2,272 | 4,579 | 48 | 118 | 89 | 68 |
| Working Capital Days | 614 | 598 | 934 | 291 | 632 | 690 | 499 |
| ROCE % | — | 4% | 2% | 0% | -1% | 1% | 1% |
Documents
1
Intimation Regarding Receipt Of An Order Passed By Joint Commissioner Of The State Tax (GST Appellate Authority) To Ananta Landmarks Private Limited, A Wholly-Owned Subsidiary Of The Company
2d - ALPL received GST appellate order on May 8, 2026; net demand Rs. 4.01 crore for FY2021-22. 2d - ALPL received GST appellate order on May 8, 2026; net demand Rs. 4.01 crore for FY2021-22.
2
Intimation Of Issue Of Corporate Guarantee To Subsidiary
30 Apr - Kalpataru issued corporate guarantees on April 30, 2026 for ₹400 crore and ₹390 crore subsidiary loans. 30 Apr - Kalpataru issued corporate guarantees on April 30, 2026 for ₹400 crore and ₹390 crore subsidiary loans.
3
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
7 May - Kalpataru schedules May 12, 2026 board meeting and May 13 earnings call for Q4 and FY26 results. 7 May - Kalpataru schedules May 12, 2026 board meeting and May 13 earnings call for Q4 and FY26 results.
4
Board Meeting Intimation for Consideration And Approval Of Audited Standalone And Consolidated Financial Results For The Quarter And Financial Year Ended March 31, 2026
6 May - Board meets May 12, 2026 to approve audited standalone and consolidated FY26 results; trading window closed until 48 hours after declaration. 6 May - Board meets May 12, 2026 to approve audited standalone and consolidated FY26 results; trading window closed until 48 hours after declaration.
5
Intimation Of Issue Of Corporate Guarantee To Subsidiary
30 Apr - Kalpataru issued corporate guarantees on April 30, 2026 for ₹400 crore and ₹390 crore subsidiary loans. 30 Apr - Kalpataru issued corporate guarantees on April 30, 2026 for ₹400 crore and ₹390 crore subsidiary loans.
Frequently Asked Questions about Kalpataru Ltd
What does Kalpataru Ltd do?
Founded in 1988, Kalpataru Limited is a real estate development company based in Mumbai, Maharashtra.[1]
Where is Kalpataru Ltd (KALPATARU) listed?
Kalpataru Ltd is listed on the Indian stock exchanges. It is listed on NSE: KALPATARU and BSE: 544423. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Kalpataru Ltd belong to?
Kalpataru Ltd operates in the Realty sector within the Residential Commercial Projects industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Kalpataru Ltd?
Kalpataru Ltd has a market capitalisation of approximately ₹5807.80 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Kalpataru Ltd?
The Price-to-Earnings (PE) ratio of Kalpataru Ltd is 49.58. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Kalpataru Ltd?
Over the past 52 weeks, Kalpataru Ltd has traded between a low of ₹258 and a high of ₹429.3. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Kalpataru Ltd?
Kalpataru Ltd has a Return on Equity (ROE) of 1.96%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Kalpataru Ltd on Tapetide?
On Tapetide, you can view Kalpataru Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Founded in 1988, Kalpataru Limited is a real estate development company based in Mumbai, Maharashtra.[1]