Everest Kanto Cylinder Ltd.

•

everestkanto.comBSE: 532684NSE: EKC

Market Cap₹ 1,194 Cr.

Current Price

High / Low₹ 155 / 90

Stock P/E15.5

Book Value₹ 75

Price to Book1.77

Dividend Yield0.66 %

ROCE10.8 %

ROE7.3 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Cylinders: 96.7% • Others: 3.0% • Fire Fighting Equipment: 0.3%

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

View full sector analysis →

PROS

Company has delivered good profit growth of 27.4% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.28x)
Company comfortably covers its interest (8.4x coverage)
Company generates healthy free cash flow
Company maintains a comfortable, low leverage position
Company has a consistent dividend-paying track record

CONS

Operating cash flow has been negative in recent years
Company has a low return on equity of 8.9% over last 3 years
Total debt has risen sharply - up 6683.4% year on year
Operating margins have contracted to 10.7% from 29.1%
Recurring exceptional / one-off items are inflating headline profit

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

Peer comparison

Capital GoodsCapital GoodsEngineering - Industrial Equipments

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

S.No.	Name
1.	BHEL	426.90	61.11	148649.28	0.33	376.71	182.70	7697.72	40.29	9.24	6.69
2.	THERMAX	3752.55	75.36	44714.00	0.53	21.79	-85.61	2302.73	7.09	15.85	2.98
3.	INDOMIM	888.45	82.34	43932.16	0.67	2401.22	—	12187.42	—	24.48	33.36
4.	KIRLOSENG	2160.85	57.58	31444.66	0.32	111.06	-20.05	1999.53	13.36	14.46	15.02
5.	JYOTICNC	959.90	67.86	21830.34	0.00	571.40	700.06	5084.70	1139.66	23.88	21.40
6.	INOXINDIA	2097.85	74.72	19040.82	0.10	58.07	-4.98	370.79	9.18	33.54	20.46
7.	AZAD	2783.75	129.36	17977.94	0.00	35.16	19.46	172.60	25.90	12.28	37.29
8.	TRITURBINE	565.00	53.41	17961.26	0.75	51.10	-20.65	442.70	19.23	35.95	11.59
9.	LLOYDSENGG	82.81	57.42	12844.15	0.30	68.23	-77.28	527.15	142.92	17.99	15.04
10.	TEGA	1540.80	547.86	11575.68	0.13	-108.25	-406.36	1723.44	383.99	8.37	3.27
11.	KENNAMET	4650.90	87.29	10221.86	0.00	31.50	11.31	267.30	12.55	18.99	17.51
12.	EKC	106.40	9.53	1193.89	0.66	30.16	-41.53	346.31	-10.49	11.27	13.68

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
	166	182	207	217	196	239	244	267	237	232	247	250	203
	148	159	176	197	178	217	208	244	196	206	190	220	178
Operating Profit	18	23	30	15	18	22	36	11	41	4	51	34	36
OPM %	10.97%	12.49%	14.66%	7.03%	9.36%	9.30%	14.93%	3.99%	17.18%	1.52%	20.52%	13.46%	17.64%
Other Income	4	2	4	1	4	4	3	3	5	2	3	5	4
Interest	1	1	1	1	1	2	3	4	3	2	2	2	3
Depreciation	5	6	6	7	6	6	6	6	6	6	7	8	8
	16	18	28	11	16	18	30	10	36	9	47	27	29
Tax %	39.71%	20.97%	21.33%	22.66%	25.32%	26.37%	24.70%	46.42%	28.48%	58.89%	24.14%	42.18%	24.69%
Net Profit	10	14	22	8	12	13	23	5	26	4	36	15	22
	1	1	2	1	1	1	2	0	2	0	3	1	0
Equity Capital	22	22	22	22	22	22	22	22	22	22	22	22	22
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

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
	171	244	323	452	490	751	1,268	790	772	946	932
	195	207	273	378	417	568	915	681	679	845	794
Operating Profit	-20	48	68	86	78	190	370	120	103	115	—
OPM %	-12	20	21	19	16	25	29	15	13	12	—
Other Income	4	11	18	12	5	7	17	11	11	14	15
Interest	48	37	27	27	28	22	10	9	5	10	10
Depreciation	17	15	13	13	23	19	19	22	24	25	29
	-114	72	18	41	26	159	335	91	72	74	112
Tax %	-1	0	27	-116	39	35	32	21	25	28	31
Net Profit	-115	71	13	88	16	103	228	72	54	53	77
EPS	-11	6	1	8	1	9	20	6	5	5	—
Dividend Payout %	0	0	0	0	0	3	3	11	15	15	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	-10	6	1	8	1	9	20	6	5	5	—

COMPOUNDED SALES GROWTH

10 Years:: 18%
5 Years:: 14%
3 Years:: -9%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 27%
3 Years:: -38%

STOCK PRICE CAGR

10 Years:: 18%
5 Years:: -2%
3 Years:: -3%
1 Year:: -25%

RETURN ON EQUITY

10 Years:: 14%
5 Years:: 21%
3 Years:: 9%
Last Year:: 7%

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
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	22	22	22	22	22	22	22	22	22	22
	54	130	144	230	244	347	572	636	682	727
	75	65	71	71	66	58	49	48	0	85
Trade Payables	120	103	116	156	128	134	71	31	42	43
	395	404	249	138	125	183	286	99	110	159
Total Liabilities	667	726	602	618	586	744	1,001	838	857	1,036
ASSETS	-	-	-	-	-	-	-	-	-	-
	254	193	207	200	195	168	185	207	227	223
Capital Work in Progress	24	7	0	8	15	35	30	52	62	110
	71	54	45	98	98	40	40	25	66	85
	108	95	107	117	109	123	202	285	203	260
	0	0	0	0	0	0	0	0	114	151
Cash & Bank	5	5	14	12	19	64	33	28	27	20
	206	371	229	184	152	314	511	241	159	188
Total Assets	667	726	602	618	586	744	1,001	838	857	1,036
Total Debt	349	332	224	199	157	116	87	50	2	106
Net Working Capital	-17	12	9	28	-6	123	281	341	349	376
Contingent Liabilities	218	172	168	70	71	73	17	13	17	370
Book Value per Share	6.83	13.62	14.82	22.46	23.78	32.94	52.97	58.71	62.81	66.84
Face Value	2.00	2.00	2.00	2.00	2.00	2.00	2.00	2.00	2.00	2.00

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
	103	43	-9	49	96	70	75	92	156	-18
Cash from Investing	4	8	144	1	-23	42	-63	-43	-106	-68
Cash from Financing	-105	-53	-134	-51	-69	-64	-43	-55	-62	87
	2	-1	1	-1	4	48	-31	-6	-12	1
Free Cash Flow	102	43	-28	22	72	60	56	45	104	-76
OCF / Net Profit	-0.89	0.60	-0.67	0.56	6.05	0.68	0.33	1.28	2.89	-0.33
Cumulative 5-Year FCF	0	0	0	0	210	169	182	255	338	190

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 (₹)	-10.25	6.37	1.16	7.80	1.42	9.16	20.33	6.42	4.80	4.75
Book Value (₹)	6.83	13.62	14.82	22.46	23.78	32.94	52.97	58.71	62.81	66.84
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.30	0.70	0.70	0.70	0.70
Cash EPS (₹)	-8.73	7.68	2.29	8.97	3.46	10.85	22.07	8.41	6.90	6.95
PROFITABILITY
Operating Margin %	-10.59%	17.89%	20.70%	18.98%	15.89%	25.27%	29.15%	15.12%	11.84%	10.68%
Net Margin %	-60.92%	26.58%	4.00%	19.34%	3.25%	13.68%	17.98%	9.07%	6.93%	5.61%
ROE %	-88.39%	62.32%	8.18%	41.85%	6.13%	32.29%	47.34%	11.50%	7.90%	7.33%
ROCE %	-12.95%	23.87%	10.31%	16.09%	12.30%	39.65%	59.11%	14.41%	10.88%	10.78%
	-16.43%	10.26%	1.97%	14.35%	2.64%	15.44%	26.15%	7.84%	6.36%	5.63%
EFFICIENCY
Debtor Days	90	62	56	54	65	54	47	68	51	51
Inventory Days	243	138	113	90	84	56	47	112	114	89
Payable Days	258	297	213	188	177	118	54	39	29	27
	76	-97	-45	-44	-29	-8	40	141	137	113
FINANCIAL HEALTH
Debt to Equity (x)	4.55x	2.17x	1.35x	0.79x	0.59x	0.31x	0.15x	0.08x	0.00x	0.14x
Interest Coverage (x)	-1.39x	2.93x	1.65x	2.49x	1.93x	8.35x	34.84x	10.75x	16.51x	8.39x
	0.95x	1.03x	1.04x	1.08x	0.98x	1.48x	2.19x	3.19x	5.16x	3.18x
GROWTH
Revenue Growth %	-5.23%	42.89%	32.28%	40.18%	8.19%	53.33%	68.90%	-37.72%	-2.30%	22.64%
Operating Profit Growth %	-76.10%	340.65%	40.35%	27.22%	-9.46%	144.07%	94.82%	-67.54%	-14.47%	12.37%
Net Profit Growth %	-15.97%	162.17%	-81.74%	570.67%	-81.82%	545.94%	122.04%	-68.42%	-25.24%	-1.04%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-25.24%	-1.04%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	27.36x	24.95x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	2.09x	1.77x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.53%	0.59%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	14.11x	12.28x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	67.39	67.39	67.39	67.39	67.39	67.39	67.39	67.39	67.39
	1.44	1.40	2.43	1.80	1.39	1.67	1.43	1.24	1.19
	0.07	0.07	0.07	0.09	0.15	0.15	0.20	0.22	0.28
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	31.11	31.15	30.10	30.73	31.07	30.79	30.99	31.15	31.15

Documents

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

2026-08-17

Investor Presentation

2026-08-17 - Everest Kanto Cylinder Limited has informed the Exchange about Investor Presentation

2026-08-17

Press Release

2026-08-17 - Everest Kanto Cylinder Limited has informed the Exchange regarding a press release dated August 17, 2026, titled "We enclose herewith the Press Release for the quarter ended June 30, 2026.".

2026-08-13

Outcome of Board Meeting

2026-08-13 - Everest Kanto Cylinder Limited has informed the Exchange regarding Outcome of Board Meeting held on August 13, 2026.

2026-08-13

Outcome of Board Meeting

2026-08-13 - Everest Kanto Cylinder Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-10

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-10 - Everest Kanto Cylinder Limited has informed the Exchange about Certificate under Reg 74(5) of SEBI (Depositories and Participants) Regulations, 2018

2026-07-02

Appointment

2026-07-02 - Everest Kanto Cylinder Limited has informed the Exchange regarding Appointment of Mr. Narender Prasad Gupta as Chief Executive Officer of the company w.e.f. July 01, 2026.

2026-06-30

Trading Window

2026-06-30 - Everest Kanto Cylinder Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

2026-06-23

Spurt in Volume

2026-06-23 - Significant increase in volume has been observed in Everest Kanto Cylinder Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Everest Kanto Cylinder Limited has submitted their response.

2026-06-22

Spurt in Volume

2026-06-22 - Significant increase in volume has been observed in Everest Kanto Cylinder Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written to the company. The response from the company is awaited.

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