B.L. Kashyap and Sons Ltd.

•

blkashyap.comBSE: 532719NSE: BLKASHYAP

Market Cap₹ 1,289 Cr.

Current Price

High / Low₹ 73 / 40

Stock P/E68.8

Book Value₹ 33

Price to Book1.62

Dividend Yield0.00 %

ROCE9.7 %

ROE5.2 %

Face Value₹ 1

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ABOUT

AI Sector View

AI GENERATED

Realty

Buy

Housing and construction indicators remain supportive for real estate. The housing index reached 105 (Mar/26), residential property prices rose 4.21% (Mar/26), construction output was 5.4% (Jul/26), and cement output accelerated to 13.1% YoY (2026-07). Bank lending rates are steady at 8.96% (Aug/26) rather than easing, but FPI flows turned positive with INR 1999 crore net inflow over 3 months to 2026-08-31 from INR -7216 crore previously.

Confidence

75%

View full sector analysis →

PROS

Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.90x)
Company generates healthy free cash flow
Company maintains a comfortable, low leverage position

CONS

A large part of profit comes from other income (45.8% of PBT)
Recent results are weak - TTM profit is down 18.1% versus prior year
Company has a low return on equity of 6.3% over last 3 years
Company has a low return on capital employed of 10.9%
Company has delivered a poor sales growth of 7.6% over past five years
Operating margins have contracted to 5.9% from 9.2%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

RealtyRealtyConstruction - Real Estate

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	DLF	681.00	37.92	168568.73	1.17	793.90	-89.59	1280.34	-52.87	6.81	49.68
2.	LODHA	1220.60	29.56	121965.19	0.35	1373.10	103.39	4996.70	43.10	16.89	38.51
3.	PHOENIXLTD	1960.00	54.77	70104.86	0.13	394.51	22.95	1074.94	12.80	13.70	59.77
4.	PRESTIGE	1625.00	61.46	69993.66	0.12	271.40	-12.87	2675.10	15.94	11.51	31.75
5.	OBEROIRLTY	1904.60	26.33	69251.68	0.42	543.51	29.02	1300.89	31.73	17.69	56.75
6.	GODREJPROP	1986.60	37.40	59841.66	0.50	349.38	-41.61	506.17	16.48	8.37	-57.98
7.	BRIGADE	712.95	33.47	23260.66	0.21	216.94	37.35	1115.55	-12.93	11.02	32.33
8.	ANANTRAJ	628.50	39.09	22618.27	0.16	149.19	18.50	631.40	6.58	12.23	29.53
9.	ABREL	1376.10	116.21	15370.44	0.18	-34.59	-27.73	188.85	30.95	-4.54	-30.02
10.	SOBHA	1254.70	58.18	13419.50	0.48	50.85	273.37	1278.15	50.03	6.96	6.07
11.	SIGNATURE	793.70	10.70	11166.25	0.00	-16.53	-148.00	551.99	-36.24	34.77	-8.10
12.	BLKASHYAP	57.18	1836.28	1289.07	0.00	10.00	-7.81	345.12	2.59	11.88	8.28

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	248	323	320	323	348	265	239	291	333	351	303	362	342
	223	294	296	304	316	243	233	283	307	331	275	333	328
Operating Profit	25	30	23	19	32	22	6	8	26	19	27	29	14
OPM %	10.12%	9.25%	7.29%	5.75%	9.14%	8.19%	2.37%	2.77%	7.76%	5.54%	8.95%	7.90%	4.16%
	4	2	3	0	9	11	8	13	2	1	1	-25	1
Interest	11	11	12	15	11	13	10	13	10	11	10	12	11
Depreciation	2	2	2	3	3	3	3	3	3	3	4	4	4
Profit before Tax	16	19	12	2	27	16	1	6	14	7	15	-11	15
Tax %	26.22%	27.82%	28.70%	96.61%	26.91%	33.41%	16.22%	14.65%	25.76%	36.56%	24.98%	36.26%	28.53%
Net Profit	12	14	9	0	19	11	1	5	11	4	11	-7	11
	0.53	0.62	0.39	0.00	0.86	0.48	0.04	0.21	0.48	0.19	0.48	-0.32	0.48

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	842	889	937	748	793	749	1,140	1,092	1,214	1,142	1,357
	774	804	840	688	775	684	1,046	988	1,117	1,075	1,268
Operating Profit	68	85	97	61	18	65	94	104	97	67	89
OPM %	8.08%	9.61%	10.36%	8.14%	2.27%	8.74%	8.24%	9.53%	7.98%	5.88%	6.58%
	27	21	44	17	2	28	53	24	10	40	-22
Interest	75	77	66	47	56	47	47	47	48	47	43
Depreciation	20	10	9	9	10	9	8	8	9	11	15
Profit before Tax	0	19	66	22	-46	37	91	74	50	50	25
Tax %	-392.46%	33.44%	25.68%	36.10%	33.64%	93.36%	27.85%	29.35%	29.97%	27.45%	25.07%
Net Profit	1	13	49	14	-31	2	66	52	35	36	19
EPS	0.00	0.00	0.00	0.00	0.00	0.11	2.93	2.31	1.55	1.59	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 4%
5 Years:: 8%
3 Years:: 0%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: -19%

STOCK PRICE CAGR

10 Years:: 10%
5 Years:: 18%
3 Years:: 3%
1 Year:: -14%

RETURN ON EQUITY

10 Years:: 4%
5 Years:: 6%
3 Years:: 6%
Last Year:: 5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	21	21	22	23	23	23	23	23	23	23
	412	405	495	533	502	506	571	623	657	693
	720	537	472	472	537	531	472	379	377	376
Trade Payables	191	150	194	144	180	162	194	200	239	221
	211	359	293	279	243	261	184	221	257	332
Total Liabilities	1,555	1,472	1,476	1,449	1,485	1,482	1,443	1,445	1,553	1,645
	91	81	77	72	64	62	57	67	86	117
Capital Work in Progress	4	5	7	4	5	0	0	0	2	0
	13	12	12	12	12	12	12	12	12	12
	367	338	302	284	319	313	314	324	106	102
	0	0	0	0	0	0	0	0	401	432
Cash & Bank	9	7	9	9	11	18	40	19	31	33
	1,070	1,027	1,068	1,067	1,073	1,076	1,020	1,023	915	949
Total Assets	1,555	1,472	1,476	1,449	1,485	1,482	1,443	1,445	1,553	1,645

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	39	85	137	52	67	44	62	72	83	87
Cash from Investing	-3	5	14	21	45	-3	36	-5	-29	-23
Cash from Financing	-38	-91	-99	-69	-104	-28	-87	-75	-48	-61
	-3	-1	47	2	3	6	9	-16	6	4

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	0.05	0.62	2.27	0.62	-1.36	0.11	2.93	2.31	1.55	1.59
Book Value (₹)	21.04	20.72	23.99	24.63	23.27	23.43	26.34	28.63	30.14	31.72
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	1.01	1.12	2.71	1.03	-0.92	0.51	3.30	2.68	1.97	2.09
PROFITABILITY
Operating Margin %	11.33%	12.11%	15.06%	10.41%	4.02%	12.46%	9.16%	11.77%	7.98%	5.88%
Net Margin %	0.11%	1.43%	5.23%	1.86%	-3.85%	0.33%	5.79%	4.76%	2.87%	3.14%
ROE %	0.22%	2.96%	10.40%	2.60%	-5.66%	0.47%	11.76%	8.39%	5.27%	5.15%
ROCE %	7.22%	9.18%	12.83%	6.83%	1.05%	9.04%	14.81%	12.80%	10.10%	9.67%
	0.06%	0.84%	3.32%	0.95%	-2.08%	0.17%	4.51%	3.60%	2.33%	2.25%
EFFICIENCY
Debtor Days	185	179	146	167	177	201	125	136	127	133
Inventory Days	164	145	125	143	139	154	100	107	65	33
Payable Days	170	131	149	195	158	165	107	140	130	156
	180	192	121	115	158	191	118	103	62	11
FINANCIAL HEALTH
Debt to Equity (x)	1.45x	1.44x	0.96x	0.80x	0.76x	0.79x	0.56x	0.47x	0.45x	0.41x
Interest Coverage (x)	1.00x	1.25x	2.00x	1.46x	0.18x	1.79x	2.94x	2.58x	2.04x	2.06x
	1.26x	1.01x	0.96x	1.06x	1.20x	1.22x	1.36x	1.33x	1.28x	1.31x
GROWTH
Revenue Growth %	4.22%	5.68%	5.30%	-20.09%	5.91%	-5.52%	52.21%	-4.24%	11.23%	-5.92%
Operating Profit Growth %	79.55%	12.91%	30.93%	-44.73%	-59.09%	192.73%	11.82%	23.13%	-16.73%	-16.03%
Net Profit Growth %	101.82%	1229.73%	285.40%	-71.59%	-319.57%	108.10%	2564.27%	-21.16%	-32.91%	2.92%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-32.91%	2.91%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	44.32x	32.25x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	2.28x	1.62x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	17.01x	15.75x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	61.65	61.65	61.65	61.67	61.69	61.70	61.71	61.72	61.73
	1.65	1.87	0.58	0.72	0.40	0.34	0.31	0.29	0.26
	0.00	0.00	0.35	0.92	0.87	0.58	0.17	0.17	0.16
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	36.70	36.48	37.41	36.69	37.04	37.38	37.81	37.82	37.85

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-01

Copy of Newspaper Publication

2026-09-01 - B. L. Kashyap and Sons Limited has informed the Exchange about Copy of Newspaper Publication of Special window for Transfer and Dematerialisation of physical securities

2026-08-31

General Updates

2026-08-31 - B. L. Kashyap and Sons Limited has informed the Exchange about General Updates

2026-08-22

Copy of Newspaper Publication

2026-08-22 - B. L. Kashyap and Sons Limited has informed the Exchange about Copy of Newspaper Publication for 37th Annual General Meeting

2026-08-20

Bagging/Receiving of orders/contracts

2026-08-20 - B. L. Kashyap and Sons Limited has informed the Exchange about Bagging/Receiving of orders/contracts

2026-08-12

Investor Presentation

2026-08-12 - B. L. Kashyap and Sons Limited has informed the Exchange about Investor Presentation

2026-08-12

General Updates

2026-08-12 - B. L. Kashyap and Sons Limited has informed the Exchange that the 37th Annual General Meeting of the Company will be held on Wednesday, 30th September, 2026 through Video Conferencing/Other Audio Visual means

2026-08-12

Record Date

2026-08-12 - B. L. Kashyap and Sons Limited has informed the Exchange that Record date for the purpose of Meeting is 23-Sep-2026.

2026-08-12

Outcome of Board Meeting

2026-08-12 - B. L. Kashyap and Sons Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-29

Bagging/Receiving of orders/contracts

2026-07-29 - B. L. Kashyap and Sons Limited has informed the Exchange about Bagging/Receiving of orders/contracts

News

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