Kesar Petroproducts Q3 FY26 Share Price & Earnings Call Analysis
₹14.27+3.41% today
- Market cap
- ₹159 Cr
- P/E
- 37.14
- ROE
- 6.17%
- PEG
- 0.21
- Price to sales
- 0.84
- Debt to equity
- 0.48
- 52W high / low
- ₹31.2 / ₹11.4
- Sales growth (5Y)
- 8.54%
- EBITDA margin
- 8.80%
- Net profit margin
- 4.83%
- Promoter holding
- 68.17%
- Sales (last year)
- ₹187 Cr
Guidance scorecard · Q3 FY26 call
What Kesar Petroprod.'s management guided
RevenueQ3 FY26 call
20–40%- The company aims for approximately 20% top-line growth next year, focusing on disciplined execution despite challenging market conditions.
- Long-term guidance includes an 18-20% CAGR in top-line growth over the next three years with improved margins.
- Demand outlook for the current quarter is improving and returning to levels seen in previous quarters.
- Focus remains on scaling pigment manufacturing while utilizing co-products to strengthen the overall ecosystem and product mix.
2 more points from Kesar Petroprod.'s call on revenue
Create a free account to keep reading this call
MarginsQ3 FY26 call
Up 2%+See what Kesar Petroprod. said on margins — free account, 30 seconds.
CapexQ3 FY26 call
Planned- Complex Fertilizer Plant: New manufacturing plant added; to be operational from Q4, capitalized in the recent quarter.
- Co-generation Facility: Being established to reduce coal consumption by ~50%, enabling around $0.4 million in annual cost savings and enhancing profitability.
- Overall Strategy: Focus on commercializing co-products (complex fertilizers, zinc phosphate, anti-corrosive paint intermediates) to generate incremental revenue and improve sustainability.
- Capex has been accounted for in current balance sheet as work-in-progress (~Rs. 78 crores).
2 more points from Kesar Petroprod.'s call on capex
Create a free account to keep reading this call
FundraisingQ3 FY26 call
None plannedSee what Kesar Petroprod. said on fundraising — free account, 30 seconds.
Order bookQ3 FY26 call
- Demand outlook has normalized and is back to levels seen in the first two quarters, indicating improving order inflows.
- Customers have been cautious recently due to tariff ambiguity and copper price volatility, preferring to use existing stocks before placing new orders.
- The company maintains strong, loyal customer relationships spanning 14-15 years and is focusing on key existing clients rather than aggressively expanding the client base.
2 more points from Kesar Petroprod.'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
This quarter's potential multibaggers
on management's own guidance
- Strong growth2
- Strong growth1
- Strong 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.
Financials of Kesar Petroprod.
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Kesar Petroprod.
Quarterly Results
Quarter-by-quarter operating performance
| Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 20.59 | 31.25 | 32.61 | 30.90 | 35.77 | 49.60 | 45.80 | 48.72 | 49.66 | 40.99 | 49.53 | 50.20 | 41.02 |
| Expenses + | 19.00 | 29.42 | 31.84 | 29.75 | 37.36 | 47.63 | 42.67 | 45.30 | 45.19 | 36.03 | 40.99 | 42.98 | 34.74 |
| Operating Profit | 1.59 | 1.83 | 0.77 | 1.15 | -1.59 | 1.97 | 3.13 | 3.42 | 4.47 | 4.96 | 8.54 | 7.22 | 6.28 |
| OPM % | 7.72% | 5.86% | 2.36% | 3.72% | -4.45% | 3.97% | 6.83% | 7.02% | 9.00% | 12.10% | 17.24% | 14.38% | 15.31% |
| Other Income + | 0.33 | 0.37 | 0.42 | 0.53 | 4.65 | 2.07 | 0.59 | 1.22 | 0.58 | 0.09 | 0.67 | 0.29 | 0.31 |
| Interest | 0.16 | 0.54 | 0.42 | 0.28 | 0.30 | 0.39 | 0.26 | 0.34 | 0.39 | 0.40 | 0.57 | 0.49 | 1.33 |
| Depreciation | 1.51 | 1.51 | 0.68 | 0.88 | 0.79 | 1.30 | 0.84 | 0.84 | 1.14 | 0.93 | 0.98 | 1.10 | 2.00 |
| Profit before tax | 0.25 | 0.15 | 0.09 | 0.52 | 1.97 | 2.35 | 2.62 | 3.46 | 3.52 | 3.72 | 7.66 | 5.92 | 3.26 |
| Tax % | 20.00% | 206.67% | 33.33% | 25.00% | 25.38% | -29.79% | 19.08% | 15.61% | 16.48% | 46.77% | 23.11% | 0.00% | 10.43% |
| Net Profit + | 0.20 | -0.16 | 0.06 | 0.39 | 1.47 | 3.05 | 2.12 | 2.92 | 2.94 | 1.98 | 5.89 | 5.92 | 2.92 |
| EPS in Rs | 0.02 | -0.02 | 0.01 | 0.04 | 0.15 | 0.32 | 0.22 | 0.30 | 0.30 | 0.20 | 0.61 | 0.61 | 0.30 |
Financials of Kesar Petroprod.
Profit & Loss
Annual income statement trend
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 153 | 145 | 143 | 172 | 178 | 154 | 130 | 124 | 153 | 120 | 149 | 185 | 182 |
| Expenses + | 151 | 138 | 127 | 146 | 139 | 149 | 127 | 118 | 145 | 113 | 147 | 169 | 155 |
| Operating Profit | 2 | 7 | 16 | 26 | 39 | 6 | 3 | 6 | 8 | 7 | 2 | 16 | 27 |
| OPM % | 2% | 5% | 11% | 15% | 22% | 4% | 2% | 5% | 5% | 5% | 2% | 9% | 15% |
| Other Income + | 0 | 0 | 0 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 8 | 2 | 1 |
| Interest | 0 | 0 | 0 | 1 | 1 | 2 | 1 | 0 | 0 | 1 | 1 | 1 | 3 |
| Depreciation | 0 | 1 | 1 | 1 | 2 | 5 | 5 | 6 | 6 | 6 | 4 | 4 | 5 |
| Profit before tax | 2 | 7 | 15 | 25 | 38 | 0 | -3 | 1 | 3 | 1 | 5 | 13 | 21 |
| Tax % | 21% | 23% | 18% | 21% | 20% | 197% | -3% | 30% | 10% | 52% | -1% | 25% | |
| Net Profit + | 2 | 5 | 12 | 20 | 31 | -0 | -3 | 0 | 3 | 0 | 5 | 10 | 17 |
| EPS in Rs | 0.23 | 0.70 | 1.31 | 2.08 | 3.16 | -0.03 | -0.27 | 0.05 | 0.28 | 0.05 | 0.52 | 1.03 | 1.72 |
| Dividend Payout % | 0% | 14% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Kesar Petroprod.
Balance Sheet
Capital structure and asset base
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 7 | 7 | 9 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 |
| Reserves | 2 | 38 | 57 | 79 | 109 | 109 | 106 | 107 | 109 | 110 | 115 | 134 | 146 |
| Borrowings + | 6 | 7 | 9 | 5 | 0 | 8 | 8 | 16 | 21 | 50 | 55 | 73 | 62 |
| Other Liabilities + | 38 | 37 | 20 | 34 | 35 | 21 | 28 | 20 | 19 | 18 | 29 | 21 | 24 |
| Total Liabilities | 54 | 90 | 96 | 127 | 154 | 147 | 152 | 152 | 158 | 188 | 209 | 238 | 242 |
| Fixed Assets + | 10 | 37 | 36 | 39 | 43 | 43 | 41 | 51 | 49 | 47 | 56 | 64 | 62 |
| CWIP | 0 | 0 | 0 | 0 | 9 | 13 | 13 | 3 | 11 | 46 | 52 | 56 | 78 |
| Investments | 0 | 0 | 0 | 1 | 5 | 8 | 30 | 37 | 23 | 23 | 20 | 19 | 18 |
| Other Assets + | 44 | 53 | 60 | 87 | 96 | 83 | 68 | 62 | 75 | 71 | 82 | 99 | 84 |
| Total Assets | 54 | 90 | 96 | 127 | 154 | 147 | 152 | 152 | 158 | 188 | 209 | 238 | 242 |
Financials of Kesar Petroprod.
Cash Flows
Operating, investing and financing cash movement
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 0 | -10 | -10 | 6 | 29 | -1 | 30 | 5 | -6 | 33 | -20 | 13 |
| Cash from Investing Activity + | -3 | 1 | 0 | -4 | -26 | -10 | -22 | -8 | -9 | -42 | -4 | -15 |
| Cash from Financing Activity + | 0 | 4 | 13 | -3 | -4 | 6 | 1 | 7 | 3 | 13 | 25 | 11 |
| Net Cash Flow | -3 | -5 | 3 | -1 | -1 | -5 | 9 | 4 | -12 | 3 | 1 | 9 |
| Free Cash Flow | -2 | -10 | -10 | 1 | 15 | -9 | 29 | 3 | -15 | -3 | -38 | -3 |
| CFO/OP | 3% | -136% | -64% | 36% | 87% | -12% | 1,199% | 84% | -67% | 506% | -849% | 84% |
Financials of Kesar Petroprod.
Ratios
Working capital efficiency and return ratios
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 39 | 40 | 36 | 61 | 50 | 52 | 72 | 71 | 45 | 64 | 69 | 47 |
| Inventory Days | 4 | 13 | 45 | 57 | 76 | 67 | 70 | 51 | 48 | 83 | 79 | 97 |
| Days Payable | 100 | 105 | 59 | 90 | 84 | 56 | 91 | 67 | 51 | 64 | 77 | 40 |
| Cash Conversion Cycle | -57 | -52 | 23 | 28 | 43 | 62 | 51 | 55 | 43 | 84 | 71 | 104 |
| Working Capital Days | -10 | 27 | 85 | 99 | 90 | 99 | 36 | 14 | 50 | -17 | 34 | 31 |
| ROCE % | 15% | 20% | 23% | 31% | 37% | 2% | -1% | 1% | 2% | 1% | 3% | 7% |