Karnika Industries Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹820 Cr
- P/E
- 21.85
- ROE
- 28.43%
- Price to sales
- 2.52
- Debt to equity
- 0.64
- 52W high / low
- ₹170 / ₹96.9
- EBITDA margin
- 15.52%
- Net profit margin
- 11.43%
- Promoter holding
- 73.39%
- Sales (last year)
- ₹325 Cr
Incorporated in 2017, Karnika Industries Ltd manufactures and deals with ready-made garments for children[1]
Guidance scorecard · Q2 FY27 call
What Karnika Industri's management guided
and where it ranks in Textiles & Apparels
Textiles & Apparels
RevenueQ2 FY27 call
20–40%- Karnika Industries targets a 30% to 35% CAGR in revenue and profit before tax through FY28.
- Focus on scaling core B2B business and developing the B2C platform (Kidcity).
- Expansion via shop-in-shop counters, kiosks, and digital channels; current 85+ shop-in-shop counters, aiming for ~1,000 kiosks and 300-400 airport kiosks by FY29-30.
- Kidcity expected to contribute INR80-100 crores revenue in the current year, up from INR40 crores in H1 FY27.
- Karnika brand projected to grow steadily at 20% to 25% year-on-year.
- Aim to deepen distribution in Tier 2 and Tier 3 markets to widen consumer access.
2 more points from Karnika Industri's call on revenue
Create a free account to keep reading this call
MarginsQ2 FY27 call
FlatSee what Karnika Industri said on margins — free account, 30 seconds.
CapexQ2 FY27 call
Planned- Capex for shop-in-shop (SIS) stores is around INR 2-3 lakhs per store, with inventory costing INR 3-5 lakhs per store.
- New "Brands of Brand" concept planned, involving kiosks/EBOs with approx. INR 10-15 lakhs capex per EBO.
- For "Brands of Brand," focus is on airports and high-street malls, aiming to set up 300-400 outlets by FY’29-’30.
- Manufacturing expansion is manageable in-house without much capex; accessory sales will be outsourced.
- No significant additional capex expected for Karnika's existing SEDEX-compliant manufacturing unit.
2 more points from Karnika Industri's call on capex
Create a free account to keep reading this call
FundraisingQ2 FY27 call
PlannedSee what Karnika Industri said on fundraising — free account, 30 seconds.
Order bookQ2 FY27 call
- Karnika sells primarily through B2B channels, supplying big buying houses and wholesalers pan-India.
- Kidcity, a B2C channel, is expanding with 85+ shop-in-shop counters and plans for more kiosks.
- Management noted healthy orders from customers and retail chains including Style Baazar, FirstCry, Srijan, and Hopscotch.
- They are focusing on deepening existing customer relationships and broadening the customer base.
2 more points from Karnika Industri's call on the order book
Create a free account to keep reading this call
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Textiles & Apparels
on management's own guidance
- Strong growth2
- Strong growth1
- Sumeet IndustrieGood growth3
Portfolio builder
Build your portfolio
from the top-ranked stocks
- 1. Pick 3–15 stocks
- 2. Choose large, mid or small cap and your sectors
- 3. Get a portfolio built from the rankings
Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Textiles & Apparels companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹560 Cr | 90.6 | |
| 2 | 40%+ | Flat | ₹421 Cr | 27.7 | |
| 3 | Sumeet Industrie | 20–40% | Up 2%+ | ₹751 Cr | 30.3 |
| 4 | 20–40% | Up 2%+ | ₹305 Cr | 20.4 | |
| 5 | 20–40% | Up 0–2% | ₹2,823 Cr | 17.5 | |
| 6 | 20–40% | Up 0–2% | ₹1,225 Cr | 69.7 |
Sign up free to see every company in the sector ranking and track Karnika Industri.
Pro shows every company guiding 40%+ revenue growth →Full Textiles & Apparels rankingFinancials of Karnika Industri
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Karnika Industri
Shareholding breakup across reporting periods.
| Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|
| Promoters + | 73.39% | 73.39% | 73.39% | 73.39% | 73.39% | 73.39% | 73.39% | 73.39% |
| FIIs + | 0.00% | 0.00% | 0.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| DIIs + | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 4.08% |
| Public + | 26.61% | 26.61% | 26.60% | 26.61% | 26.61% | 26.61% | 26.61% | 22.53% |
| No. of Shareholders | 307 | 535 | 516 | 921 | 976 | 995 | 968 | 1,202 |
Pros & Cons
Karnika Industri
Key positives and risks surfaced from the company insights section.
- Stock is trading at 6.27 times its book value
- Stock is trading at 6.27 times its book value
Financials of Karnika Industri
Quarterly Results
Quarter-by-quarter operating performance
| Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|
| Sales + | 74 | 72 | 74 | 106 |
| Expenses + | 64 | 64 | 61 | 86 |
| Operating Profit | 10 | 8 | 13 | 20 |
| OPM % | 14% | 11% | 17% | 19% |
| Other Income + | 1 | 7 | 2 | 1 |
| Interest | 1 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 |
| Profit before tax | 9 | 13 | 13 | 19 |
| Tax % | 25% | 29% | 28% | 26% |
| Net Profit + | 7 | 9 | 9 | 14 |
| EPS in Rs | 1.05 | 1.45 | 1.45 | 2.10 |
Financials of Karnika Industri
Profit & Loss
Annual income statement trend
| Mar 2026 | TTM | |
|---|---|---|
| Sales + | 248 | 325 |
| Expenses + | 211 | 275 |
| Operating Profit | 37 | 51 |
| OPM % | 15% | 16% |
| Other Income + | 9 | 10 |
| Interest | 5 | 6 |
| Depreciation | 2 | 1 |
| Profit before tax | 39 | 54 |
| Tax % | 27% | |
| Net Profit + | 28 | 39 |
| EPS in Rs | 4.51 | 6.05 |
| Dividend Payout % | 2% |
Financials of Karnika Industri
Balance Sheet
Capital structure and asset base
| Mar 2026 | Sep 2026 | |
|---|---|---|
| Equity Capital | 62 | 62 |
| Reserves | 36 | 69 |
| Borrowings + | 76 | 84 |
| Other Liabilities + | 43 | 72 |
| Total Liabilities | 217 | 286 |
| Fixed Assets + | 6 | 4 |
| CWIP | 1 | 1 |
| Investments | 22 | 22 |
| Other Assets + | 187 | 260 |
| Total Assets | 217 | 286 |
Financials of Karnika Industri
Cash Flows
Operating, investing and financing cash movement
| Mar 2026 | |
|---|---|
| Cash from Operating Activity + | 16 |
| Cash from Investing Activity + | -22 |
| Cash from Financing Activity + | 5 |
| Net Cash Flow | -0 |
| Free Cash Flow | 16 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 72% |
Financials of Karnika Industri
Ratios
Working capital efficiency and return ratios
| Mar 2026 | |
|---|---|
| Debtor Days | 129 |
| Inventory Days | 128 |
| Days Payable | 75 |
| Cash Conversion Cycle | 182 |
| Working Capital Days | 102 |
| ROCE % |
Guidance history
How Karnika Industri's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q2 FY27 call → | 20–40% | Flat | Planned | Planned | — |
| Q4 FY26 call → | 20–40% | Flat | Planned | Planned | Rising |
| Q2 FY26 call → | 20–40% | Up 2%+ | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
26 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −22.0% | 34% |
| Last 6 months | −0.7% | 53% |
| Last 3 months | +19.4% | 86% |
The price is 41% below its all-time high of ₹223.95 (1 Sept 2025). Stocks more than 20% below their peak have their score halved, so 52 became 26.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Karnika Industri: 0.4 × 34 + 0.4 × 53 + 0.2 × 86 = 52, halved to 26 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Karnika Industri's management said in earlier quarters
Others in Textiles & Apparels this season
- Suditi Industries Ltd (Q2 FY27)
PAT for Q1-FY27 is INR 16 million with a PAT margin of 9.20% (Page 30). Key investor presentation takeaways from Suditi Industries Ltd's Q2 FY27 investor presen
- Ashima Ltd (Q2 FY27)
Quarter ended 30/09/2026 total segment revenue (net sales/income from operations) was ₹1,696 lakhs (Rs. Key results statement takeaways from Ashima Ltd's Q2 FY2
- Fiberweb (India) Ltd (Q2 FY27)
Q2 FY27 Revenue: ₹30.74 Cr (Sales); Total Income: ₹30.99 Cr (Page 23) . Key investor presentation takeaways from Fiberweb (India) Ltd's Q2 FY27 investor present
- K P R Mill Ltd (Q2 FY27)
Quarterly Revenue from Operations (Q2FY27): ₹1,939.74 Cr, up from ₹1,632.03 Cr in Q2FY26 (18.8% YoY increase). Key investor presentation takeaways from K P R Mi