---
title: "Kundan Edifice Ltd (KEL) — Share Price, Financials & Analysis"
symbol: "KEL"
company: "Kundan Edifice Ltd"
canonical: "https://tapetide.com/stocks/KEL"
isin: "INE0OWX01025"
nse_symbol: "VISDEM"
sector: "Consumer Goods"
industry: "Electronics"
market_cap_cr: 100.67
generated_at: "2026-09-13T19:02:56.173Z"
---

# Kundan Edifice Ltd (KEL)

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

## Company

- **NSE Symbol:** VISDEM
- **ISIN:** INE0OWX01025
- **Sector:** Consumer Goods
- **Industry:** Electronics
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2023-09-26
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** kundanedifice.com

## About

Incorporated in 2010, Kundan Edifice Ltd is a manufacturer and supplier of flexible LED Strip lights, LED neon lights and smart strip solutions.[1]

## Latest Price

- **Price:** ₹98
- **Change:** 0 (0%)
- **Open:** ₹98
- **Day High:** ₹98
- **Day Low:** ₹98
- **Previous Close:** ₹98
- **Volume:** 0
- **As Of:** 2026-09-11T10:01:43+00:00

## Key Fundamentals

Observed at 2026-09-11T04:49:38.107022Z.

- **Market Cap:** ₹100.67 Cr
- **Classification:** SME
- **P/E (reported):** 12.9
- **Book Value:** ₹46.72
- **Price to Book:** 2.1
- **Dividend Yield:** 0%
- **ROE:** 19.48%
- **ROCE:** 27.83%
- **Debt to Equity:** 0.73
- **Revenue (yearly):** ₹105.15 Cr
- **Net Income:** ₹8.03 Cr
- **EBITDA:** ₹16.39 Cr
- **52-Week High:** ₹107.95
- **52-Week Low:** ₹80.5
- **RSI (14):** 63.95

## Tapetide Score

- **Score:** 54 / 100
- **Score date:** 2026-09-04
- **Archetype:** Priced for Perfection
- **What it means:** The business scores well but the multiple leaves little room for error. The debate here is about the price, not the company; small disappointments tend to cost more at rich valuations.
- **Pillar profile:** Quality: Good · Valuation: Expensive · Momentum: Rising
- **Percentile:** 65.6 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 52.16 | 9% |
| growth | 55.3 | 9% |
| momentum | 89.45 | 12% |
| ownership | 49.81 | 24% |
| quality | 60.53 | 22% |
| valuation | 39.94 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Debtor days have increased from 39.5 to 48.7 days.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 151.24% | 419.75% | — |
| ebitda margin growth | 5.8% | -2.81% | 69.28% | 79.45% |
| net income growth | 3.3% | 1.65% | 15% | 55% |
| revenue growth | 41.4% | 6.53% | 21% | 48% |
| roce | — | 67.95% | -52.05% | 31.63% |
| roe | — | 110.82% | 30.51% | -67.23% |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Sales | 41 | 43 | 48 | 50 | 55 | 51 |
| Expenses | 36 | 41 | 41 | 42 | 45 | 43 |
| Operating Profit | 6 | 2 | 7 | 8 | 9 | 7 |
| OPM % | 14 | 4.6 | 15 | 16 | 17 | 14 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 1 | 1 | 1 | 2 | 2 | 2 |
| Depreciation | 0 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 4 | 0 | 5 | 5 | 6 | 4 |
| Tax % | 23 | 543 | 33 | 18 | 25 | 25 |
| Net Profit | 3 | 0 | 4 | 4 | 5 | 3 |
| EPS in Rs | 3.22 | -0.3 | 3.5 | 4.15 | 4.39 | 3.17 |

### Profit & Loss

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

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 2 | 7 | 6 | 15 | 32 | 60 | 83 | 97 | 105 |
| Expenses | 3 | 7 | 6 | 13 | 29 | 51 | 75 | 81 | 89 |
| Operating Profit | -1 | 0 | 0 | 2 | 3 | 9 | 8 | 15 | 16 |
| OPM % | -58 | 3.9 | 5 | 11 | 9 | 14 | 9 | 16 | 16 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 1 | 1 | 1 | 2 | 3 | 4 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 2 | 2 |
| Profit before tax | -1 | 0 | 0 | 1 | 2 | 7 | 4 | 11 | 10 |
| Tax % | 0 | 0 | 0 | 5 | 4 | 27 | 31 | 25 | 25 |
| Net Profit | -1 | 0 | 0 | 1 | 2 | 5 | 3 | 8 | 8 |
| EPS in Rs | -13400 | 4 | 1.45 | 25.67 | 56 | 6.79 | 2.92 | 7.65 | 7.56 |
| 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 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.01 | 3 | 3 | 3 | 3 | 8 | 10 | 10 | 10 |
| Reserves | -3 | -2 | -2 | -2 | 0 | 1 | 22 | 30 | 38 |
| Borrowings | 4 | 3 | 6 | 7 | 9 | 14 | 18 | 28 | 35 |
| Other Liabilities | 1 | 2 | 2 | 3 | 7 | 7 | 7 | 12 | 17 |
| Total Liabilities | 2 | 5 | 8 | 12 | 19 | 30 | 58 | 81 | 100 |
| Fixed Assets | 0 | 1 | 1 | 2 | 5 | 6 | 13 | 22 | 25 |
| CWIP | 0 | 0 | 1 | 0 | 0 | 1 | 2 | 3 | 3 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 2 | 4 | 6 | 9 | 14 | 23 | 43 | 56 | 72 |
| Total Assets | 2 | 5 | 8 | 12 | 19 | 30 | 58 | 81 | 100 |

### Cash Flow

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

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -1 | -1 | -2 | 0 | 2 | -2 | -10 | 5 | 3 |
| Cash from Investing Activity | 0 | 0 | -2 | -1 | -3 | -3 | -9 | -15 | -6 |
| Cash from Financing Activity | 1 | 1 | 3 | 1 | 1 | 4 | 23 | 7 | 3 |
| Net Cash Flow | 0 | 0 | 0 | 0 | 0 | 0 | 3 | -2 | -1 |
| Free Cash Flow | -1 | -1 | -3 | -1 | -1 | -4 | -19 | -7 | -3 |
| CFO/OP | 119 | -372 | -497 | 12 | 69 | -16 | -113 | 49 | 31 |

### Ratios

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 123 | 47 | 44 | 35 | 22 | 27 | 36 | 33 | 49 |
| Inventory Days | 111 | 180 | 302 | 213 | 140 | 156 | 154 | 186 | 236 |
| Days Payable | 81 | 108 | 149 | 103 | 106 | 39 | 34 | 54 | 76 |
| Cash Conversion Cycle | 153 | 119 | 197 | 145 | 56 | 144 | 157 | 166 | 210 |
| Working Capital Days | 169 | 99 | 88 | 55 | 21 | 35 | 86 | 69 | 78 |
| ROCE % | — | 10 | 5 | 19 | 23 | 46 | 18 | 23 | 19 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 72.28% | 72.28% | 72.28% | 72.28% | 72.28% | 72.28% | 72.28% | 72.28% | 72.28% | 72.28% | 72.28% | 72.28% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0.02% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.11% | 0.09% | 0.08% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 24.22% | 21.72% | 23.58% | 23.42% | 24.21% | 24.6% | 24.87% | 24.99% | 25.04% | 25.04% | 25.12% | 25.92% |
| Others | 3.49% | 5.97% | 4.14% | 4.3% | 3.5% | 3.12% | 2.85% | 2.72% | 2.68% | 2.57% | 2.5% | 1.72% |
| No. of Shareholders | 7 | 772 | 812 | 874 | 878 | 857 | 826 | 829 | 834 | 827 | 808 | 802 |

## Technical Indicators

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

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 12 / 7 / 0

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 92.67 | Buy |
| EMA (10) | 93.84 | Buy |
| SMA (20) | 87.8 | Buy |
| EMA (20) | 89.77 | Buy |
| SMA (50) | 82.87 | Buy |
| EMA (50) | 85.83 | Buy |
| SMA (100) | 83.07 | Buy |
| EMA (100) | 86.1 | Buy |
| SMA (200) | 90.5 | Buy |
| EMA (200) | 92.09 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 63.95 | Neutral |
| MACD (12,26,9) | 4.43 | Buy |
| Stochastic (14,3,3) | 73.79 | Neutral |
| ADX (14) | 19.96 | Neutral |
| Williams %R (14) | -32.46 | Neutral |
| ATR (14) | 4.03 | High Volatility |
| ROC (12) | 17.72 | Buy |
| Stoch RSI (14) | 63.05 | Neutral |
| UO (7,14,28) | 61.56 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 May 2026 - Kundan Edifice placed a soldering machine order to bring power supply component manufacturing in-house. | [Updates 9 May 2026 - Kundan Edifice placed a soldering machine order to bring power supply component manufacturing in-house.](https://nsearchives.nseindia.com/corporate/KUNDAN_09052026162105_Intimation_Regulation_30_Update_on_In-house_Manufacturig.pdf) |
| 9 March 2026 - Received INR 80.00 lakh order from Orient Electric for LED rope/strip lighting, execution in March 2026. | [Updates 9 March 2026 - Received INR 80.00 lakh order from Orient Electric for LED rope/strip lighting, execution in March 2026.](https://nsearchives.nseindia.com/corporate/KUNDAN_09032026171527_Intimation__Regulation_30_Receipt_of_Order_from_Orient_Electric_Ltd.pdf) |
| 9 July 2026 - Infomerics reaffirmed Kundan Edifice’s IVR BBB-/Stable rating for Rs 223 crore bank facilities on June 24, 2026. | [Credit Rating- New 9 July 2026 - Infomerics reaffirmed Kundan Edifice’s IVR BBB-/Stable rating for Rs 223 crore bank facilities on June 24, 2026.](https://nsearchives.nseindia.com/corporate/KUNDAN_09072026222025_CREDIT_RATING_COVERING_REPORT-output.pdf) |
| 8 May 2026 - Kundan Edifice improved FG storage, FIFO controls, and deployed automated lifter trolleys at its facility. | [Updates 8 May 2026 - Kundan Edifice improved FG storage, FIFO controls, and deployed automated lifter trolleys at its facility.](https://nsearchives.nseindia.com/corporate/KUNDAN_08052026161254_Intimation_Regulation_30_Business_Update_on_Operational_Infrastrusture.pdf) |
| 8 April 2026 - Corrigendum issued for 13 April 2026 board meeting notice; registered office shift agenda corrected. | [Corrigendum 8 April 2026 - Corrigendum issued for 13 April 2026 board meeting notice; registered office shift agenda corrected.](https://nsearchives.nseindia.com/corporate/KUNDAN_08042026181826_INTIMATION_OF_CORRIGENDUM_TO_NOTICE_OF_BOARD_MEETING.pdf) |
| 7 May 2026 - Kundan Edifice reported sustainability initiatives, including tree plantation, waste awareness and energy conservation at manufacturing facilities. | [Updates 7 May 2026 - Kundan Edifice reported sustainability initiatives, including tree plantation, waste awareness and energy conservation at manufacturing facilities.](https://nsearchives.nseindia.com/corporate/KUNDAN_07052026131651_Intimation-Regulation_30_Business_Update_on_Sustainability_Initiatives.pdf) |
| 6 May 2026 - Promoters disclosed no share encumbrance for FY 2025-26 under SEBI Regulation 31. | [Disclosure under SEBI Takeover Regulations 6 May 2026 - Promoters disclosed no share encumbrance for FY 2025-26 under SEBI Regulation 31.](https://nsearchives.nseindia.com/corporate/team_sandeshc_30042026132705_10.pdf) |
| 6 May 2026 - Kundan Edifice implemented HRMS with Phi EDGE to automate onboarding, payroll, attendance, and performance management. | [Updates 6 May 2026 - Kundan Edifice implemented HRMS with Phi EDGE to automate onboarding, payroll, attendance, and performance management.](https://nsearchives.nseindia.com/corporate/KUNDAN_06052026181553_Intimation_Regulation_30_Business_Update_on_Automation_of_Human.pdf) |
| 6 June 2026 - Video recording of H2 and FY2026 investor conference call submitted on 06 June 2026. | [Analysts/Institutional Investor Meet/Con. Call Updates 6 June 2026 - Video recording of H2 and FY2026 investor conference call submitted on 06 June 2026.](https://nsearchives.nseindia.com/corporate/KUNDAN_06062026204655_Video_Recording_Investor_Conference_Call.pdf) |
| 5 May 2026 - Company engaged approximately 145 suppliers in FY2025-26 for raw material procurement. | [Updates 5 May 2026 - Company engaged approximately 145 suppliers in FY2025-26 for raw material procurement.](https://nsearchives.nseindia.com/corporate/KUNDAN_05052026164439_Intimation_under_Regulation_30_Business_Update_on_Vendor_Base.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Oct 2025 | [Concall - Oct 2025](https://nsearchives.nseindia.com/corporate/KUNDAN_28102025180419_InvestorPresantationOctober2025.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://nsearchives.nseindia.com/corporate/KUNDAN_18112025170807_Investor_Presentation_H1_FY26.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://nsearchives.nseindia.com/corporate/KUNDAN_19112025233717_InvestorPresentation.pdf) |
| Jun 2025 | [Concall - Jun 2025](https://nsearchives.nseindia.com/corporate/KUNDAN_10062025161108_PPT_INVESTOR_PRESENTATION_31_MARCH_2025OCR.pdf) |
| Jun 2024 | [Concall - Jun 2024](https://nsearchives.nseindia.com/corporate/KEL_02062024213307_KEL_ERFY24.pdf) |
| Jun 2024 | [Concall - Jun 2024](https://nsearchives.nseindia.com/corporate/KEL_06062024114513_Presentation.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28762_KEL_2024_2025_A_1273624_06092025162758.pdf) |
| from nse | [Financial Year 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_26088_KEL_2023_2024_06092024214122.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 2026-09-13T19:02:56.173Z.