Kanani Industries Ltd.
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ABOUT
AI Sector View
AI GENERATEDConsumer Durables
Urban discretionary demand is mixed but investable. Credit card transactions rose 27.0% YoY (2026-06), urban CMIE sentiment was 109.5 (2026-07), and consumer spending remained large at INR 44743 billion (Jun/26), even though formal consumer confidence fell to 88.3 points (Jul/26) and debit card transactions were -9.0% YoY (2026-06). Heavy sector inflows of INR 13175 crore over 3 months to 2026-08-31 indicate strong investor positioning behind the theme.
PROS
- Company is almost debt free
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 6.41x)
- Company has consistently been profitable over the last 5 years
- Company comfortably covers its interest (45.2x coverage)
- Company generates healthy free cash flow
CONS
- A large part of profit comes from other income (63.8% of PBT)
- Company has a low return on capital employed of 2.3%
- Company has a low return on equity of 1.9% over last 3 years
- Receivables are growing faster than sales - a possible quality concern
- Promoter holding has decreased over last 2 years: -4.5pp
- Company's sales have been declining over the last five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| TITAN | 5070.00 | 78.14 | 450107.58 | 0.30 | 1777.00 | 62.88 | 21356.00 | 44.16 | 21.90 | 13.54 |
| KALYANKJIL | 589.20 | 42.40 | 60849.69 | 0.42 | 348.67 | 32.03 | 10588.93 | 45.68 | 24.86 | 5.97 |
| THANGAMAYL | 5237.95 | 41.63 | 16280.61 | 0.34 | 85.09 | 86.15 | 2666.38 | 71.44 | 26.62 | 5.43 |
| LALITHAA | 264.45 | 14.66 | 14801.53 | 0.00 | — | — | — | — | 43.11 | — |
| BLUESTONE | 813.50 | 220.69 | 12428.55 | 0.00 | 59.61 | 271.56 | 7368.46 | 1395.59 | 9.24 | 14.50 |
| SKYGOLD | 752.00 | 34.76 | 11646.52 | 0.00 | 104.90 | 140.67 | 2012.79 | 77.93 | 23.71 | 7.79 |
| PCJEWELLER | 10.18 | 12.81 | 9927.67 | 0.00 | 221.88 | 37.02 | 877.04 | 20.99 | 6.61 | 27.54 |
| AUGMONT | 952.85 | 26.07 | 8706.52 | 0.00 | — | — | — | — | 70.86 | — |
| SENCO | 349.70 | 10.04 | 5731.62 | 0.50 | 1011.43 | 866.46 | 30560.27 | 1573.37 | 22.86 | 6.97 |
| GOLDIAM | 343.40 | 24.52 | 5170.13 | 0.60 | 73.97 | 120.06 | 326.03 | 41.92 | 25.11 | 20.33 |
| VAIBHAVGBL | 214.80 | 12.64 | 3600.43 | 2.79 | 56.38 | 49.83 | 917.07 | 12.70 | 18.41 | 10.55 |
| KANANIIND | 1.55 | 13.60 | 30.67 | 0.00 | -0.04 | -113.43 | 64.29 | -23.19 | 1.23 | -0.04 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 82 | 66 | 22 | 53 | 67 | 47 | 21 | 34 | 84 | 49 | 28 | 13 | 64 | |
| 81 | 65 | 22 | 54 | 66 | 47 | 20 | 34 | 83 | 48 | 28 | 12 | 64 | |
| Operating Profit | 0 | 1 | -0 | -0 | 0 | -0 | 0 | -0 | 0 | 1 | 0 | 0 | -0 |
| OPM % | 0.38% | 0.88% | -0.59% | -0.39% | 0.35% | -0.15% | 2.01% | -0.74% | 0.36% | 1.05% | 0.28% | 3.49% | -0.04% |
| Other Income | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 1 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | -0 | 0 | 0 | 0 | 1 | -0 | 0 | 1 | 0 | 0 | -0 | |
| Tax % | 13.51% | 8.11% | 22.22% | 0.00% | 3.70% | 0.00% | 4.05% | 4.00% | 3.45% | 8.11% | 7.14% | -22.22% | -26.67% |
| Net Profit | 0 | 0 | 0 | 0 | 0 | 0 | 1 | -0 | 0 | 1 | 0 | 1 | -0 |
| 0 | 0 | -0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | |
| Equity Capital | 10 | 10 | 10 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 |
| 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
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 496 | 443 | 386 | 344 | 377 | 312 | 291 | 270 | 223 | 168 | 154 | |
| 493 | 443 | 385 | 340 | 373 | 311 | 289 | 267 | 222 | 168 | 153 | |
| Operating Profit | 3 | 2 | 2 | 4 | 4 | 2 | 3 | 3 | 1 | 1 | — |
| OPM % | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | — |
| Other Income | 0 | 2 | 1 | 0 | 1 | 1 | 1 | 0 | 1 | 1 | 1 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 2 | 1 | 1 | 2 | 3 | 1 | 2 | 2 | 1 | 1 | 2 | |
| Tax % | 9 | 25 | 14 | 7 | 7 | 19 | 10 | 6 | 8 | 4 | 2 |
| Net Profit | 2 | 1 | 1 | 2 | 3 | 0 | 2 | 2 | 1 | 1 | 2 |
| EPS | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| 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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -9%
- 5 Years:
- -15%
- 3 Years:
- -17%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- -7%
- 5 Years:
- -21%
- 3 Years:
- -24%
STOCK PRICE CAGR
- 10 Years:
- -19%
- 5 Years:
- -19%
- 3 Years:
- -25%
- 1 Year:
- -26%
RETURN ON EQUITY
- 10 Years:
- 3%
- 5 Years:
- 2%
- 3 Years:
- 2%
- Last Year:
- 1%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 20 | 20 |
| 39 | 39 | 40 | 43 | 47 | 47 | 49 | 53 | 43 | 45 | |
| 28 | 27 | 31 | 32 | 21 | 20 | 24 | 21 | 0 | 0 | |
| Trade Payables | 90 | 78 | 74 | 60 | 73 | 55 | 57 | 36 | 25 | 28 |
| 2 | 2 | 4 | 6 | 5 | 2 | 1 | 10 | 6 | 0 | |
| Total Liabilities | 169 | 156 | 160 | 151 | 155 | 133 | 141 | 131 | 95 | 93 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 1 | 1 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 18 | 24 | 26 | 30 | 31 | 19 | 33 | 26 | 17 | 20 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 75 | 71 | |
| Cash & Bank | 15 | 10 | 10 | 10 | 4 | 4 | 5 | 8 | 1 | 1 |
| 136 | 122 | 123 | 109 | 119 | 110 | 103 | 96 | 1 | 1 | |
| Total Assets | 169 | 156 | 160 | 151 | 155 | 133 | 141 | 131 | 95 | 93 |
| Total Debt | 30 | 29 | 35 | 37 | 25 | 22 | 24 | 31 | 6 | 0 |
| Net Working Capital | 50 | 50 | 53 | 58 | 60 | 58 | 59 | 72 | 69 | 65 |
| Contingent Liabilities | 15 | 15 | 6 | 8 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book Value per Share | 4.92 | 4.94 | 5.03 | 5.31 | 5.71 | 5.71 | 5.94 | 6.33 | 3.20 | 3.28 |
| Face Value | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 6 | -4 | -7 | -1 | 6 | 3 | -2 | -2 | 19 | 6 | |
| Cash from Investing | -0 | -0 | -0 | -0 | 0 | 0 | -0 | -0 | 0 | 0 |
| Cash from Financing | -5 | -1 | 6 | 2 | -12 | -3 | 2 | 6 | -26 | -6 |
| 1 | -5 | -0 | 1 | -6 | -0 | 0 | 3 | -7 | -0 | |
| Free Cash Flow | 6 | -4 | -7 | -2 | 6 | 3 | -2 | -2 | 19 | 6 |
| OCF / Net Profit | 3.12 | -7.09 | -8.18 | -0.52 | 2.41 | 6.83 | -0.98 | -0.90 | 31.08 | 7.24 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 0 | -3 | -1 | 4 | 25 | 24 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 0.19 | 0.05 | 0.08 | 0.22 | 0.26 | 0.04 | 0.18 | 0.22 | 0.03 | 0.04 |
| Book Value (₹) | 4.92 | 4.94 | 5.03 | 5.31 | 5.71 | 5.71 | 5.94 | 6.33 | 3.20 | 3.28 |
| 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 (₹) | 0.10 | 0.03 | 0.05 | 0.12 | 0.14 | 0.03 | 0.10 | 0.11 | 0.03 | 0.04 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 0.59% | 0.47% | 0.63% | 1.10% | 1.05% | 0.60% | 1.02% | 1.25% | 0.25% | 0.20% |
| Net Margin % | 0.39% | 0.11% | 0.21% | 0.63% | 0.68% | 0.14% | 0.62% | 0.80% | 0.28% | 0.46% |
| ROE % | 4.05% | 1.03% | 1.64% | 4.26% | 4.70% | 0.78% | 3.13% | 3.58% | 0.98% | 1.22% |
| ROCE % | 3.53% | 2.57% | 2.90% | 4.02% | 4.45% | 2.22% | 3.54% | 3.74% | 1.80% | 1.23% |
| 1.18% | 0.31% | 0.51% | 1.40% | 1.68% | 0.30% | 1.32% | 1.60% | 0.55% | 0.83% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 95 | 105 | 115 | 122 | 110 | 134 | 133 | 133 | 139 | 159 |
| Inventory Days | 13 | 18 | 24 | 30 | 30 | 29 | 33 | 40 | 35 | 40 |
| Payable Days | 61 | 70 | 73 | 73 | 66 | 76 | 72 | 65 | 51 | 58 |
| 47 | 53 | 66 | 80 | 74 | 87 | 94 | 108 | 124 | 140 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.62x | 0.59x | 0.71x | 0.71x | 0.45x | 0.39x | 0.42x | 0.50x | 0.09x | 0.00x |
| Interest Coverage (x) | 3.94x | 1.51x | 1.67x | 2.99x | 3.55x | 1.44x | 3.37x | 3.33x | 1.84x | 45.23x |
| 1.42x | 1.47x | 1.50x | 1.63x | 1.64x | 1.78x | 1.72x | 2.25x | 3.68x | 3.31x | |
| GROWTH | ||||||||||
| Revenue Growth % | 11.68% | -10.77% | -12.87% | -10.75% | 9.42% | -17.26% | -6.69% | -6.96% | -17.63% | -24.39% |
| Operating Profit Growth % | -5.58% | -27.90% | 16.35% | 54.81% | 4.79% | -52.63% | 57.53% | 14.52% | -55.80% | -43.26% |
| Net Profit Growth % | 15.12% | -73.73% | 60.47% | 170.04% | 17.57% | -82.86% | 311.04% | 20.37% | -71.59% | 26.15% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -85.80% | 26.28% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 120.83x | 41.88x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 1.18x | 0.50x |
| 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 | 53.09x | 37.42x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-14 - Please find the attached letter Newspaper Publication Unaudited Financial Result for the Quarter ended June 30, 2026
2026-08-14 - Please find the attached letter Notice of Book Closure due to the 43Rd Annual General Meeting which is schedule to be held on Monday, September 28, 2026 as 11.00 A.M. (IST).
2026-08-13 - Kanani Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-13 - Kanani Industries Limited has informed the Exchange regarding Outcome of Board Meeting held on August 13, 2026.
2026-07-13 - Please find the attached file Certificate under Regulation 74(5) of the SEBI Regulation, 2018 for the quarter ended June 30, 2026
2026-06-25 - Kanani Industries Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
2026-06-01 - Please find enclosed herewith copies of newspaper advertisement of Audited Financial Results for the Quarter and Year ended March 31, 2026, published in Mumbai Lakshadeep and Financial Express on May 31, 2026.
2026-05-30 - With the reference to the above captioned subject, we are enclosing here with following documents as per detail given below.1. Standalone & Consolidated Audited Financial Result with the Audit Report on Financial Result of the Company for the quarter/year ended March 31, 2026; as wells as pursuant to the regulation 33 of the SEBI (listing obligations and disclosures requirements) regulations, 2015 as received from Statutory Auditors of the Company M/s. JMMK & Co., Chartered Accountants, Mumbai.2. Related party Transaction pursuant to Regulation 23(9) on consolidated basis for the year ended March 31, 2026.Kindly find the same in order.
2026-05-30 - Kanani Industries Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
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