KRBL Ltd
KRBL Ltd
FMCGKey Fundamentals
MicrocapAgricultural ProductsFMCGInsights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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60 extracted metrics + investor summaries across FY13–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Strengths
2- Company has reduced debt.
- Company is almost debt free.
Weaknesses
2- The company has delivered a poor sales growth of 8.84% over past five years.
- Company has a low return on equity of 11.2% over last 3 years.
Growth Rate
AI Analysis — Bull vs Bear
KRBL Ltd, India's largest basmati rice exporter, trades at a market cap of ₹8,166 Cr with a PE of 12.4x and is virtually debt-free. The company has shown TTM profit growth of 36% but carries a modest 3-year ROE of 11% and tepid 5-year sales CAGR of ~9%.
- Company is almost debt-free, having significantly reduced leverage, which minimizes interest burden and financial risk
- TTM compounded profit growth of 36% signals a sharp earnings recovery in the most recent period
- PE ratio of 12.4x is undemanding relative to FMCG sector averages (typically 30-50x), offering valuation comfort
- Price-to-book of 1.38x suggests the stock trades close to its book value, limiting downside from asset backing
- 10-year compounded profit growth of 8% demonstrates long-term earnings compounding ability
- TTM sales growth of 9% shows revenue momentum is accelerating versus the 3-year CAGR of 4%
- Dividend yield of 1% provides a baseline cash return to shareholders even in periods of flat stock performance
- Last year ROE of 12% is marginally above the 3-year average of 11%, indicating improving capital efficiency
- 5-year sales CAGR of only 9% (screener notes 8.84%) reflects structurally slow top-line growth for a consumer brand
- 3-year compounded profit growth is negative at -3%, showing earnings stagnation over a meaningful period
- 3-year ROE averages just 11%, well below the 15% threshold typically expected of quality consumer businesses
- Stock CAGR of -9% over 1 year and -3% over 3 years indicates sustained wealth destruction for holders
- 10-year ROE has declined from 15% to 12% (last year), signaling deteriorating return on capital over time
- 10-year stock CAGR of only 3% has significantly underperformed broad market indices like Nifty 50
- 5-year stock CAGR of 5% barely keeps pace with inflation, reflecting limited re-rating potential perceived by the market
- 3-year sales CAGR of just 4% suggests the recent TTM uptick of 9% may not be sustainable without confirmation over more quarters
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Biryani Kit product launch Jul 3
KRBL launched India Gate Classic Biryani Kit on July 4, 2026, expanding into the domestic Biryani Masala segment under its flagship India Gate brand.
TL;DR: KRBL is extending its brand beyond basmati rice into value-added ready-to-cook products with the Biryani Kit launch. No visible headwinds in the current news cycle. The product diversification strategy could strengthen domestic FMCG revenue if execution holds, but it is too early to assess traction.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,414 | 1,214 | 1,438 | 1,318 | 1,199 | 1,270 | 1,682 | 1,442 | 1,584 | 1,511 | 1,477 | 1,526 | 1,496 |
| Expenses | 1,163 | 1,020 | 1,260 | 1,140 | 1,082 | 1,148 | 1,487 | 1,219 | 1,392 | 1,285 | 1,248 | 1,296 | 1,188 |
| Operating Profit | 252 | 195 | 178 | 178 | 117 | 123 | 195 | 224 | 193 | 226 | 229 | 229 | 308 |
| OPM % | 18% | 16% | 12% | 14% | 10% | 10% | 12% | 16% | 12% | 15% | 15% | 15% | 21% |
| Other Income | 27 | 33 | 28 | 9 | 22 | 36 | 8 | 11 | 32 | 30 | 25 | 8 | 64 |
| Interest | 1 | 1 | 7 | 14 | 5 | 1 | 1 | 8 | 1 | 1 | 1 | 4 | 1 |
| Depreciation | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 21 | 22 | 23 | 23 | 23 | 23 |
| PBT | 257 | 207 | 179 | 153 | 114 | 138 | 182 | 207 | 202 | 233 | 229 | 210 | 348 |
| Tax % | 24% | 26% | 25% | 25% | 24% | 25% | 27% | 25% | 25% | 26% | 26% | 26% | 25% |
| Net Profit | 195 | 153 | 134 | 114 | 87 | 103 | 133 | 154 | 151 | 172 | 170 | 155 | 261 |
| EPS in Rs | 8.27 | 6.7 | 5.85 | 4.98 | 3.78 | 4.49 | 5.79 | 6.74 | 6.58 | 7.52 | 7.43 | 6.79 | 11.39 |
Profit & Loss
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,143 | 3,360 | 3,145 | 3,246 | 4,120 | 4,499 | 3,992 | 4,211 | 5,365 | 5,385 | 5,594 | 6,098 | 6,009 |
| Expenses | 2,617 | 2,913 | 2,502 | 2,472 | 3,271 | 3,629 | 3,170 | 3,549 | 4,425 | 4,582 | 4,919 | 5,196 | 5,017 |
| Operating Profit | 526 | 447 | 644 | 774 | 850 | 870 | 822 | 662 | 939 | 802 | 674 | 902 | 992 |
| OPM % | 17% | 13% | 20% | 24% | 21% | 19% | 21% | 16% | 18% | 15% | 12% | 15% | 17% |
| Other Income | 2 | 61 | 10 | 18 | 15 | 23 | 23 | 43 | 92 | 97 | 61 | 70 | 127 |
| Interest | 81 | 67 | 55 | 69 | 68 | 62 | 24 | 13 | 15 | 24 | 15 | 8 | 8 |
| Depreciation | 53 | 50 | 61 | 68 | 64 | 73 | 72 | 74 | 76 | 79 | 81 | 91 | 93 |
| PBT | 394 | 391 | 538 | 655 | 733 | 758 | 749 | 617 | 941 | 796 | 640 | 873 | 1,019 |
| Tax % | 18% | 25% | 26% | 34% | 31% | 26% | 25% | 26% | 26% | 25% | 26% | 26% | — |
| Net Profit | 322 | 293 | 399 | 434 | 503 | 558 | 559 | 459 | 701 | 596 | 476 | 648 | 758 |
| EPS in Rs | 13.67 | 12.45 | 16.97 | 18.46 | 21.37 | 23.71 | 23.74 | 19.52 | 29.78 | 26.03 | 20.8 | 28.31 | 33.13 |
| Div. Payout % | 12% | 15% | 12% | 12% | 12% | 12% | 15% | 18% | 3% | 15% | 17% | 16% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 23 | 23 | 23 |
| Reserves | 1,301 | 1,475 | 1,884 | 2,264 | 2,703 | 3,104 | 3,669 | 4,047 | 4,669 | 4,835 | 5,217 | 5,784 |
| Borrowings | 1,351 | 1,167 | 1,090 | 1,245 | 1,428 | 572 | 369 | 145 | 250 | 545 | 407 | 170 |
| Other Liabilities | 390 | 315 | 425 | 324 | 481 | 724 | 566 | 533 | 648 | 525 | 579 | 622 |
| Total Liabilities | 3,066 | 2,981 | 3,422 | 3,858 | 4,636 | 4,423 | 4,628 | 4,748 | 5,591 | 5,927 | 6,226 | 6,598 |
| Fixed Assets | 640 | 765 | 1,013 | 982 | 941 | 979 | 947 | 924 | 899 | 903 | 922 | 1,333 |
| CWIP | 114 | 100 | 2 | 2 | 1 | 12 | 9 | 2 | 16 | 13 | 21 | 14 |
| Investments | 7 | 13 | 10 | 9 | 8 | 6 | 19 | 21 | 31 | 115 | 351 | 860 |
| Other Assets | 2,306 | 2,103 | 2,397 | 2,864 | 3,687 | 3,425 | 3,653 | 3,801 | 4,645 | 4,896 | 4,932 | 4,391 |
| Total Assets | 3,066 | 2,981 | 3,422 | 3,858 | 4,636 | 4,423 | 4,628 | 4,748 | 5,591 | 5,927 | 6,226 | 6,598 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 337 | 510 | 258 | 61 | -115 | 1,212 | 384 | 561 | -360 | 224 | 961 | 933 |
| Investing | -231 | -174 | -208 | -49 | 20 | -54 | -12 | -206 | 206 | -85 | -523 | -298 |
| Financing | -147 | -332 | -74 | 25 | 59 | -1,148 | -227 | -322 | 5 | -157 | -252 | -353 |
| Net Cash Flow | -42 | 4 | -23 | 37 | -35 | 10 | 145 | 32 | -149 | -18 | 186 | 281 |
| Free Cash Flow | 105 | 338 | 51 | 24 | -136 | 1,182 | 343 | 520 | -419 | 141 | 866 | 866 |
| CFO/OP | 79 | 136 | 57 | 32 | 12 | 161 | 71 | 111 | -11 | 54 | 163 | 130 |
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 | 39 | 17 | 27 | 28 | 35 | 19 | 18 | 25 | 19 | 21 | 31 | 28 |
| Inventory Days | 283 | 248 | 331 | 415 | 395 | 323 | 392 | 336 | 404 | 425 | 358 | 307 |
| Days Payable | 24 | 20 | 42 | 19 | 28 | 43 | 29 | 22 | 12 | 12 | 14 | 12 |
| Cash Conversion Cycle | 299 | 245 | 316 | 424 | 402 | 298 | 382 | 339 | 412 | 433 | 375 | 323 |
| Working Capital Days | 89 | 91 | 120 | 155 | 163 | 167 | 228 | 234 | 260 | 264 | 234 | 266 |
| ROCE % | 19% | 17% | 21% | 22% | 21% | 21% | 20% | 15% | 21% | 16% | 12% | 15% |
Documents
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Company Information
KRBL is worlds leading basmati rice producer and has fully integrated operations in every aspect of basmati value chain, right from seed development, contract farming, procurement of paddy, storage, processing, packaging, branding and marketing.(Source : 202003 Annual Report Page No:181)