Karnika Industries Ltd.

•

karnikaindustries.comBSE: -NSE: KARNIKA

Market Cap₹ 754 Cr.

Current Price

High / Low₹ 199 / 90

Stock P/E24.3

Book Value₹ 17

Price to Book11.22

Dividend Yield0.00 %

ROCE24.3 %

ROE29.1 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Textiles

Hold

This sector relies on indirect export proxies rather than direct textile production data. Exports of goods rose 15.0% YoY (2026-06), the currency is weak at 95.23 (Sep/26), and export prices are 163.50, all of which can help exporters, though terms of trade at 102.30 are below the prior 114 in the snapshot context. FPI flows are modestly positive at INR 256 crore over 3 months to 2026-08-31, so the stance is mildly constructive but confidence is capped due to proxy reliance.

Confidence

50%

View full sector analysis →

PROS

Company has a good return on equity (ROE) track record: 3 Years ROE 34.4%
Company has a healthy return on capital (ROCE) of 22.8%
Latest quarter profit grew 138.7% YoY, showing strong momentum
Company comfortably covers its interest (6.3x coverage)

CONS

Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.51x)
Operating cash flow has been negative in recent years
Free cash flow has been persistently negative
Stock is trading at 11.2x its book value
Rich enterprise valuation - EV/EBITDA of 28.7x

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

Peer comparison

TextilesTextileTextile

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

S.No.	Name
1.	PAGEIND	35971.80	53.08	40122.49	1.53	192.81	-3.98	1420.45	7.89	73.60	20.35
2.	KPRMILL	1134.85	42.52	38790.76	0.44	258.54	21.55	1935.52	14.77	20.16	19.37
3.	WELSPUNLIV	207.65	70.66	19617.79	0.05	162.61	82.09	2795.45	23.66	6.41	11.53
4.	VTL	583.75	19.94	16904.05	0.86	314.56	51.46	2703.08	13.31	8.91	18.11
5.	ARVIND	581.35	38.19	15815.08	0.77	57.77	5.61	2500.96	24.65	15.30	9.64
6.	MANYAVAR	579.35	34.94	14076.94	1.34	66.90	37.31	267.95	22.74	29.45	45.53
7.	PGIL	2366.40	35.22	10930.53	0.61	99.23	51.37	1528.26	24.46	22.42	10.72
8.	ICIL	451.50	59.27	8942.15	0.33	63.22	67.28	1206.96	25.89	8.73	11.88
9.	SWANCORP	276.75	38.80	8674.92	0.05	-35.99	-233.33	1013.75	-16.44	4.50	-0.38
10.	GARFIBRES	819.05	38.07	7997.89	1.10	64.60	21.56	482.37	31.35	20.98	18.70
11.	KUSUMGAR	565.75	60.49	5939.89	0.00	426.47	—	2472.47	—	26.15	30.50
12.	KARNIKA	121.55	26.95	753.58	0.00	91.38	—	737.72	—	24.29	17.23

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	71	15	60	33	70	60	61	598
	61	12	52	28	55	51	55	510
Operating Profit	10	3	8	5	14	10	6	88
OPM %	14.19%	20.15%	13.17%	14.99%	20.72%	16.15%	9.43%	14.67%
	1	0	2	1	0	0	7	16
Interest	1	1	1	1	1	1	1	13
Depreciation	0	0	0	0	0	0	0	2
Profit before Tax	10	2	9	4	13	8	11	104
Tax %	25.15%	24.06%	26.32%	25.78%	26.41%	25.83%	29.35%	29.26%
Net Profit	7	1	6	3	9	6	8	74
	5.85	1.14	5.06	2.48	3.29	1.01	1.28	1.19

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Mar 2024	Mar 2025	TTM
	125	127	173	251
	109	109	146	212
Operating Profit	15	18	26	39
OPM %	12.18%	14.21%	15.13%	15.44%
	1	1	4	9
Interest	5	5	5	5
Depreciation	0	1	1	1
Profit before Tax	11	14	24	43
Tax %	26.20%	25.66%	25.40%	27.76%
Net Profit	8	10	18	31
EPS	8.99	8.15	14.54	—
Dividend Payout %	0.00%	0.00%	0.69%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -33%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 34%
Last Year:: 29%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Mar 2024	Mar 2025
Equity Capital	9	12	12
	9	41	59
	52	52	60
Trade Payables	26	13	21
	2	2	3
Total Liabilities	98	120	154
	2	5	7
	0	0	9
	49	48	50
	0	51	75
Cash & Bank	2	12	1
	46	4	13
Total Assets	98	120	154

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Mar 2024	Mar 2025
	-50	-6	4
Cash from Investing	-2	-4	-18
Cash from Financing	57	20	4
	2	10	-10

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Mar 2024	Sep 2024	Mar 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	73.39	73.39	73.39	73.39	73.39	73.39	73.39
	0.00	0.00	0.01	0.00	0.00	0.00	0.00
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	26.61	26.61	26.60	26.61	26.61	26.61	26.61

Documents

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

No announcements filed.

News

Recent coverage and analyst commentary for KARNIKA

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Karnika Industries Ltd.

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Name

PAGEIND

35971.80

53.08

40122.49

1.53

192.81

-3.98

1420.45

7.89

73.60

20.35

KPRMILL

1134.85

42.52

38790.76

0.44

258.54

21.55

1935.52

14.77

20.16

19.37

WELSPUNLIV

207.65

70.66

19617.79

0.05

162.61

82.09

2795.45

23.66

6.41

11.53

VTL

583.75

19.94

16904.05

0.86

314.56

51.46

2703.08

13.31

8.91

18.11

ARVIND

581.35

38.19

15815.08

0.77

57.77

5.61

2500.96

24.65

15.30

9.64

MANYAVAR

579.35

34.94

14076.94

1.34

66.90

37.31

267.95

22.74

29.45

45.53

PGIL

2366.40

35.22

10930.53

0.61

99.23

51.37

1528.26

24.46

22.42

10.72

ICIL

451.50

59.27

8942.15

0.33

63.22

67.28

1206.96

25.89

8.73

11.88

SWANCORP

276.75

38.80

8674.92

0.05

-35.99

-233.33

1013.75

-16.44

4.50

-0.38

GARFIBRES

819.05

38.07

7997.89

1.10

64.60

21.56

482.37

31.35

20.98

18.70

KUSUMGAR

565.75

60.49

5939.89

0.00

426.47

—

2472.47

—

26.15

30.50

KARNIKA

121.55

26.95

753.58

0.00

91.38

—

737.72

—

24.29

17.23

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

598

510

Operating Profit

OPM %

14.19%

20.15%

13.17%

14.99%

20.72%

16.15%

9.43%

14.67%

Interest

Depreciation

Profit before Tax

104

Tax %

25.15%

24.06%

26.32%

25.78%

26.41%

25.83%

29.35%

29.26%

Net Profit

5.85

1.14

5.06

2.48

3.29

1.01

1.28

1.19

Mar 2023

Mar 2024

Mar 2025

TTM

125

127

173

251

109

146

212

Operating Profit

OPM %

12.18%

14.21%

15.13%

15.44%

Interest

Depreciation

Profit before Tax

Tax %

26.20%

25.66%

25.40%

27.76%

Net Profit

EPS

8.99

8.15

14.54

—

Dividend Payout %

0.00%

0.69%

—

Mar 2023

Mar 2024

Mar 2025

Equity Capital

Trade Payables

Total Liabilities

120

154

Cash & Bank

Total Assets

120

154

Mar 2023

Mar 2024

Mar 2025

-50

-6

Cash from Investing

-2

-4

-18

Cash from Financing

-10

Mar 2023

Mar 2024

Mar 2025

Mar 2024

Sep 2024

Mar 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

73.39

0.00

0.01

0.00

DIIs

0.00

Government

0.00

26.61

26.60

26.61

Karnika Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Karnika Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI