KDDL Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Components for Watches: 95.3% • Others: 4.7%
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 has delivered good profit growth of 86.5% CAGR over last 5 years
- Company has a healthy return on capital (ROCE) of 35.3%
- Company has a good return on equity (ROE) track record: 3 Years ROE 34.2%
- Latest quarter profit grew 63.9% YoY, showing strong momentum
- Company has delivered good sales growth of 27.5% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 36.9%
CONS
- A large part of profit comes from other income (29.3% of PBT)
- Receivables are growing faster than sales - a possible quality concern
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.41x)
- Operating margins have contracted to 21.6% from 36.4%
- Valuation is stretched - P/E of 58.4 is well above its own 5-year median (32.6)
- Stock is trading at 6.5x its book value
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| TIMEX | 628.15 | 73.92 | 6341.17 | 0.00 | 25.02 | 70.55 | 218.90 | 29.57 | 83.18 | 16.09 |
| KDDL | 3998.55 | 50.68 | 4917.93 | 0.58 | 44.75 | 50.67 | 633.80 | 36.30 | 21.91 | 15.03 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 89 | 93 | 81 | 88 | 81 | 92 | 97 | 99 | 110 | 123 | 116 | 147 | 154 | |
| 66 | 67 | 62 | 82 | 66 | 71 | 75 | 83 | 89 | 98 | 93 | 109 | 128 | |
| Operating Profit | 23 | 26 | 19 | 6 | 15 | 21 | 22 | 16 | 21 | 25 | 23 | 39 | 26 |
| OPM % | 25.44% | 27.59% | 23.46% | 7.34% | 18.93% | 22.59% | 22.78% | 16.21% | 18.76% | 20.21% | 19.58% | 26.19% | 16.73% |
| 2 | 2 | 4 | 195 | 4 | 5 | 2 | 3 | 5 | 4 | 22 | -2 | 0 | |
| Interest | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 4 | 3 | 4 | 4 | 3 |
| Depreciation | 3 | 4 | 3 | 3 | 4 | 4 | 6 | 5 | 6 | 6 | 6 | 6 | 6 |
| Profit before Tax | 19 | 22 | 18 | 196 | 13 | 20 | 14 | 11 | 16 | 20 | 35 | 27 | 26 |
| Tax % | 25.34% | 25.35% | 25.45% | 9.80% | 26.12% | 24.40% | -11.55% | 26.16% | 24.68% | 25.95% | 11.89% | 25.55% | 25.65% |
| Net Profit | 14 | 16 | 13 | 177 | 10 | 15 | 16 | 8 | 12 | 14 | 30 | 20 | 20 |
| 11.37 | 12.80 | 10.49 | 140.87 | 7.79 | 12.07 | 12.97 | 6.64 | 9.68 | 11.75 | 24.76 | 16.09 | 15.86 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 125 | 146 | 176 | 181 | 147 | 218 | 305 | 351 | 370 | 496 | 540 | |
| 104 | 118 | 145 | 151 | 123 | 176 | 253 | 276 | 295 | 389 | 428 | |
| Operating Profit | 22 | 27 | 31 | 30 | 24 | 42 | 52 | 74 | 75 | 107 | 112 |
| OPM % | 17.22% | 18.81% | 17.85% | 16.54% | 16.49% | 19.18% | 17.15% | 21.17% | 20.25% | 21.63% | 20.72% |
| 3 | 5 | 5 | 5 | 3 | 5 | 59 | 203 | 14 | 28 | 24 | |
| Interest | 6 | 5 | 6 | 9 | 10 | 8 | 9 | 9 | 11 | 15 | 14 |
| Depreciation | 7 | 7 | 8 | 12 | 12 | 12 | 13 | 14 | 19 | 24 | 24 |
| Profit before Tax | 12 | 20 | 22 | 14 | 5 | 27 | 89 | 254 | 59 | 96 | 107 |
| Tax % | 34.94% | 29.65% | 29.38% | 34.28% | 34.21% | 22.29% | 22.42% | 13.37% | 16.27% | 20.59% | 21.23% |
| Net Profit | 8 | 14 | 16 | 9 | 3 | 21 | 69 | 220 | 49 | 77 | 84 |
| EPS | 7.28 | 12.95 | 13.84 | 7.84 | 2.85 | 16.86 | 54.49 | 175.52 | 40.03 | 62.28 | — |
| Dividend Payout % | 21.63% | 19.46% | 18.47% | 25.54% | 51.54% | 17.94% | 7.24% | 35.32% | 12.49% | 36.93% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 15%
- 5 Years:
- 28%
- 3 Years:
- 18%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 28%
- 5 Years:
- 87%
- 3 Years:
- 3%
STOCK PRICE CAGR
- 10 Years:
- 33%
- 5 Years:
- 57%
- 3 Years:
- 28%
- 1 Year:
- 66%
RETURN ON EQUITY
- 10 Years:
- 18%
- 5 Years:
- 29%
- 3 Years:
- 34%
- Last Year:
- 21%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 11 | 12 | 12 | 12 | 13 | 13 | 13 | 12 | 12 |
| 103 | 117 | 155 | 158 | 161 | 204 | 241 | 384 | 319 | 372 | |
| 30 | 56 | 43 | 89 | 83 | 72 | 83 | 54 | 110 | 113 | |
| Trade Payables | 10 | 15 | 16 | 14 | 15 | 21 | 27 | 23 | 26 | 42 |
| 44 | 57 | 38 | 28 | 29 | 43 | 51 | 92 | 77 | 86 | |
| Total Liabilities | 198 | 257 | 263 | 300 | 300 | 352 | 413 | 566 | 544 | 625 |
| 62 | 61 | 95 | 107 | 102 | 103 | 111 | 112 | 171 | 181 | |
| Capital Work in Progress | 5 | 24 | 2 | 2 | 1 | 2 | 9 | 34 | 12 | 4 |
| 48 | 68 | 80 | 101 | 107 | 138 | 146 | 138 | 165 | 187 | |
| 21 | 27 | 31 | 32 | 26 | 28 | 39 | 46 | 56 | 77 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 52 | 68 | 103 | |
| Cash & Bank | 10 | 9 | 9 | 15 | 14 | 16 | 12 | 142 | 11 | 15 |
| 53 | 69 | 47 | 43 | 49 | 65 | 96 | 43 | 60 | 58 | |
| Total Assets | 198 | 257 | 263 | 300 | 300 | 352 | 413 | 566 | 544 | 625 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 23 | 18 | 35 | 31 | 29 | 35 | 60 | 80 | 15 | 46 | |
| Cash from Investing | -32 | -37 | -33 | -30 | -12 | -29 | -16 | 150 | -49 | -2 |
| Cash from Financing | 19 | 10 | 7 | 8 | -14 | 4 | -32 | -99 | -100 | -32 |
| 6 | -12 | 1 | 7 | 1 | 3 | -8 | 131 | -134 | 11 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-24 - KDDL Limited has informed the Exchange about Business Responsibility and Sustainability Reporting (BRSR)
2026-08-24 - KDDL Limited has informed the Exchange about Record Date
2026-08-24 - Annual Report for FY 25-26
2026-08-24 - KDDL Limited has informed the Exchange regarding 'Record Date'.
2026-08-24 - KDDL Limited has informed the Exchange that Record date for the purpose of Dividend is 08-Sep-2026.
2026-08-24 - KDDL Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-24 - KDDL Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 15, 2026
2026-08-04 - KDDL Limited has informed the Exchange about Investor Presentation
2026-08-04 - KDDL Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
News
Recent coverage and analyst commentary for KDDL
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