Kaveri Seed Company Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2013 • Seeds Division: 96.5% • Microteck Division: 3.5%
AI Sector View
AI GENERATEDFast Moving Consumer Goods
Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 21.9%
- Company has a good return on equity (ROE) track record: 3 Years ROE 20.7%
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.04x)
- Company has a consistent dividend-paying track record
- Company generates healthy free cash flow
CONS
- Recent results are weak - TTM profit is down 59.0% versus prior year
- Effective tax rate is unusually low at 4.0% - earnings may be flattered
- Company has delivered a poor profit growth of 1.1% over past five years
- Company has delivered a poor sales growth of 4.9% over past five years
- Operating margins have contracted to 20.5% from 26.1%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| KSCL | 724.25 | 14.93 | 3725.47 | 0.00 | 279.84 | -14.47 | 742.50 | -13.51 | 21.77 | 39.58 |
| VENKEYS | 1694.15 | 347.39 | 2386.61 | 0.59 | 49.99 | 215.79 | 1118.38 | 29.17 | 11.27 | 6.18 |
| AVTNPL | 92.21 | 16.76 | 1404.21 | 0.87 | 31.10 | 156.69 | 241.22 | 82.16 | 14.26 | 16.56 |
| BSHSL | 91.28 | 33.38 | 957.87 | 0.00 | 14.30 | 16.56 | 182.57 | 19.37 | 21.19 | 9.39 |
| REGAAL | 85.56 | 14.73 | 881.22 | 0.29 | 13.33 | 46.95 | 202.15 | -18.02 | 16.91 | 15.33 |
| MGEL | 15.78 | 11.01 | 520.04 | 0.06 | 84.26 | 1210.01 | 9520.65 | 1008.93 | 19.37 | 1.94 |
| NATHBIOGEN | 151.67 | 7.87 | 288.23 | 1.32 | 32.26 | -13.46 | 328.40 | 15.76 | 6.89 | 10.70 |
| MSL | 148.50 | 19.61 | 163.06 | 0.00 | 3.97 | 1.93 | 61.84 | 25.81 | 12.34 | 9.28 |
| INDOUS | 80.49 | 31.88 | 161.40 | 0.00 | 3.04 | -35.38 | 32.99 | 7.21 | 21.15 | 12.01 |
| OSWALSEEDS | 13.08 | 9.79 | 119.64 | 0.00 | 12.27 | 68.60 | 117.08 | 19.53 | 9.88 | 15.65 |
| NARMADA | 14.51 | 30.64 | 110.09 | 0.00 | 7.54 | — | 222.63 | — | 8.94 | 4.25 |
| AGRITECH | 99.00 | 0.00 | 58.81 | 0.00 | -3.61 | 61.18 | 0.00 | — | -0.94 | — |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 767 | 96 | 118 | 81 | 808 | 82 | 155 | 77 | 945 | 97 | 180 | 82 | 815 | |
| 501 | 91 | 110 | 91 | 525 | 88 | 142 | 92 | 623 | 103 | 162 | 97 | 547 | |
| Operating Profit | 267 | 6 | 9 | -11 | 283 | -6 | 13 | -15 | 322 | -6 | 18 | -14 | 268 |
| OPM % | 34.76% | 5.81% | 7.47% | -13.31% | 35.02% | -7.94% | 8.48% | -19.91% | 34.10% | -6.70% | 9.78% | -17.60% | 32.91% |
| 12 | 14 | 13 | 26 | 10 | 13 | 12 | 13 | 10 | 7 | 8 | 6 | 4 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9 | 0 | 0 | 3 | 0 | 0 |
| Depreciation | 5 | 6 | 7 | 8 | 7 | 7 | 8 | 15 | 13 | 14 | 15 | 16 | 13 |
| Profit before Tax | 274 | 14 | 16 | 7 | 286 | -0 | 17 | -26 | 320 | -14 | 8 | -25 | 273 |
| Tax % | 2.12% | 23.15% | 25.46% | 60.17% | 0.93% | -658.70% | 11.37% | -13.64% | 1.08% | -9.22% | 4.49% | -4.31% | 0.45% |
| Net Profit | 268 | 11 | 12 | 3 | 283 | -3 | 15 | -29 | 317 | -15 | 7 | -26 | 271 |
| 47.90 | 1.91 | 2.08 | 0.64 | 55.00 | -0.68 | 2.92 | -5.68 | 61.53 | -2.93 | 1.45 | -4.98 | 52.74 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 717 | 670 | 772 | 769 | 883 | 987 | 915 | 1,001 | 1,062 | 1,122 | 1,173 | |
| 526 | 532 | 555 | 565 | 644 | 700 | 720 | 768 | 792 | 849 | 909 | |
| Operating Profit | 191 | 138 | 218 | 204 | 240 | 287 | 195 | 232 | 270 | 272 | 265 |
| OPM % | 26.63% | 20.58% | 28.17% | 26.57% | 27.12% | 29.05% | 21.26% | 23.21% | 25.45% | 24.29% | 22.57% |
| 12 | -25 | 24 | 44 | 47 | 48 | 44 | 65 | 66 | 50 | 25 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9 | 3 |
| Depreciation | 25 | 28 | 23 | 21 | 24 | 21 | 20 | 20 | 26 | 37 | 57 |
| Profit before Tax | 177 | 84 | 218 | 227 | 262 | 313 | 218 | 277 | 310 | 276 | 242 |
| Tax % | 2.86% | 6.99% | 3.49% | 5.46% | 3.94% | 2.51% | 4.25% | 3.68% | 5.55% | 4.02% | 1.61% |
| Net Profit | 172 | 78 | 210 | 215 | 251 | 305 | 209 | 267 | 293 | 265 | 238 |
| EPS | 24.95 | 11.36 | 31.36 | 33.30 | 40.14 | 50.61 | 35.23 | 46.35 | 56.96 | 51.56 | — |
| Dividend Payout % | 10.02% | 0.00% | 9.43% | 8.82% | 7.20% | 7.90% | 11.17% | 8.38% | 8.78% | 9.70% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 0%
- 5 Years:
- 5%
- 3 Years:
- 7%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- -1%
- 5 Years:
- 1%
- 3 Years:
- 8%
STOCK PRICE CAGR
- 10 Years:
- 8%
- 5 Years:
- 4%
- 3 Years:
- 7%
- 1 Year:
- -39%
RETURN ON EQUITY
- 10 Years:
- 20%
- 5 Years:
- 21%
- 3 Years:
- 21%
- Last Year:
- 20%
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 | 14 | 14 | 13 | 13 | 12 | 12 | 12 | 11 | 10 | 10 |
| 922 | 1,010 | 1,008 | 1,000 | 970 | 1,250 | 1,283 | 1,362 | 1,222 | 1,464 | |
| 7 | 7 | 8 | 9 | 10 | 10 | 11 | 11 | 11 | 13 | |
| Trade Payables | 212 | 277 | 183 | 216 | 265 | 357 | 227 | 221 | 244 | 475 |
| 199 | 208 | 240 | 324 | 355 | 366 | 369 | 444 | 572 | 672 | |
| Total Liabilities | 1,354 | 1,517 | 1,452 | 1,561 | 1,612 | 1,994 | 1,901 | 2,048 | 2,059 | 2,634 |
| 195 | 194 | 183 | 234 | 244 | 241 | 237 | 256 | 289 | 406 | |
| Capital Work in Progress | 20 | 27 | 29 | 33 | 13 | 26 | 43 | 128 | 128 | 79 |
| 528 | 687 | 652 | 539 | 414 | 627 | 540 | 587 | 503 | 622 | |
| 497 | 440 | 434 | 552 | 633 | 714 | 750 | 705 | 730 | 1,017 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 60 | 48 | |
| Cash & Bank | 7 | 17 | 9 | 7 | 4 | 7 | 14 | 14 | 18 | 16 |
| 107 | 152 | 145 | 197 | 304 | 380 | 316 | 358 | 331 | 447 | |
| Total Assets | 1,354 | 1,517 | 1,452 | 1,561 | 1,612 | 1,994 | 1,901 | 2,048 | 2,059 | 2,634 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 252 | 161 | 158 | 137 | 163 | 250 | 112 | 316 | 387 | 180 | |
| Cash from Investing | -203 | -145 | 65 | 90 | 113 | -215 | 72 | -115 | 45 | -157 |
| Cash from Financing | -41 | -0 | -224 | -223 | -264 | -25 | -170 | -177 | -428 | -26 |
| 3 | 10 | -8 | -5 | 1 | 3 | 7 | -1 | 4 | -2 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-05 - Kaveri Seed Company Limited has informed the Exchange about Copy of Newspaper Publication in Business Standard (English) and Nava Telangana (Telugu) dated 05th September, 2026 intimating the Shareholders about dispatch (through e-mail only) of the Notice of 39th Annual General Meeting of the Company to be held on Tuesday, 29th September, 2026 at 12.00 Noon through Video Conference (VC)/ Other Audio Visual Means (OVAM) and Annual Report for the financial year 2025-26, e-voting information and Book Closure dates.
2026-09-04 - Kaveri Seed Company Limited has informed the Exchange about General Updates on Book Closure for the purpose of 39th AGM scheduled to be held on Tuesday, 29th September, 2026.
2026-09-04 - Kaveri Seed Company Limited has informed the Exchange about General Updates on the Company has sent a letter providing a web-link including the exact path, where complete details of the Annual Report for the FY 2025-26, are available to those Members who have not registered their email addresses with the Company / Registrar & Transfer Agent / Depositories.
2026-09-04 - Kaveri Seed Company Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 29, 2026
2026-08-19 - Kaveri Seed Company Limited has informed the Exchange about Transcript of Q1 & FY 2026-27 results conference call made on Friday, 14th August, 2026.
2026-08-14 - Kaveri Seed Company Limited has informed the Exchange about Link of Recording of Management Commentary on Un-audited Standalone and Consolidated Financial Results of the Company for the quarter ended June 30, 2026:
2026-08-14 - Kaveri Seed Company Limited has informed the Exchange about Copy of Newspaper Publication of Un-audited Financial Results of the company for the quarter ended 30th June, 2026 published in Business Standard (English) and Nava Telangana (Telugu) on 14th August, 2026.
2026-08-13 - Kaveri Seed Company Limited has informed the Exchange about Investor Presentation
2026-08-13 - Kaveri Seed Company Limited has informed the Exchange regarding a press release dated August 13, 2026, titled "Press Release on Un-audited Standalone and Consolidated Financial Results of the Company for the quarter ended 30th June, 2026.".
News
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