Kiri Industries Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹3,400 Cr
- P/E
- 4.21
- ROE
- -9.09%
- Price to sales
- 3.58
- Debt to equity
- 0.01
- 52W high / low
- ₹725 / ₹338
- Sales growth (5Y)
- -2.58%
- EBITDA margin
- -19.87%
- Net profit margin
- -52.42%
- Promoter holding
- 41.71%
- Sales (last year)
- ₹950 Cr
Kiri Industries Limited (KIL) is engaged in the business of manufacturing and exporting a wide range of Dyes, Dye Intermediates, and Basic Chemicals from India. [1]
Guidance scorecard · Q1 FY27 call
What Kiri Industries Ltd's management guided
and where it ranks in Chemicals & Petrochemicals
Chemicals & Petrochemicals
RevenueQ1 FY27 call
40%+- Copper business revenue expected to start from Q1 FY 2027-28, with full operational revenue targeted by FY 2029-30.
- Integrated copper and fertilizer project progressing with phased commissioning; focus on disciplined execution and timely milestones.
- Existing dyes and chemicals business showing improved pricing and capacity utilization; aiming for 70%-75% utilization in the current year.
- Potential doubling of dyes business revenue (up to INR 2,000 crore) if higher prices sustain and capacity utilization improves.
- Revenue projections for copper business and related EBITDA are dynamic, dependent on operational timelines.
- Long-term vision includes developing large chemical complexes for import substitution near Dhamra Port (Odisha), though this is in preliminary stages.
2 more points from Kiri Industries Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Kiri Industries Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Integrated copper and fertilizer project is a key focus, with total estimated capital requirement around INR 12,000 crore over next two years.
- Capex is being steadily deployed; Phase 1 facilities planned operational from 2027 to early 2029.
- Deployment includes downstream copper products (tubes, rods) with phased commissioning starting FY '28.
- Supporting infrastructure and utility projects like captive jetty desalination, raw material conveying systems, and long-term power infrastructure are progressing.
- Over 50% financial debt commitments secured; complete financial closure expected soon.
- Existing dyes and chemicals business sees capital deployment to gradually ramp capacity from 60% towards 70-75% utilization.
2 more points from Kiri Industries Ltd's call on capex
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FundraisingQ1 FY27 call
PlannedSee what Kiri Industries Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
- It highlights that orders have been placed for several long-lead mechanical, electrical, and utility packages for the integrated copper and fertilizer project.
- The finalization of remaining major packages is ongoing.
- The company is also engaging with international mining companies and global trading houses for long-term sourcing agreements rather than direct order book details.
- The focus is on disciplined execution, project milestones, and phased commissioning of the copper downstream facilities starting FY28.
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 Chemicals & Petrochemicals
on management's own guidance
- Strong growth2
- Strong growth1
- 3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Chemicals & Petrochemicals companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹263 Cr | 3.4 | |
| 2 | 40%+ | Flat | ₹4,375 Cr | 83.7 | |
| 3 | Kiri Industries LtdThis stock | 40%+ | Flat | ₹3,259 Cr | 4.0 |
| 4 | 40%+ | Flat | ₹145 Cr | 15.9 | |
| 5 | 20–40% | Up 2%+ | ₹1.81L Cr | 90.9 | |
| 6 | 20–40% | Up 2%+ | ₹48,366 Cr | 78.3 |
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Pro shows every company guiding 40%+ revenue growth →Full Chemicals & Petrochemicals rankingKiri Industries Ltd announcements
All announcements →- Acquisition / mergerNotableKiri Industries confirms completion of 40% share acquisition in Makilala Mining
Financials of Kiri Industries Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Kiri Industries Ltd
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 + | 204 | 222 | 227 | 231 | 160 | 269 | 183 | 173 | 179 | 205 | 202 | 213 | 174 |
| Expenses + | 221 | 227 | 226 | 240 | 180 | 264 | 183 | 178 | 223 | 210 | 218 | 227 | 222 |
| Operating Profit | -17 | -5 | 2 | -10 | -21 | 5 | 0 | -5 | -44 | -5 | -16 | -14 | -49 |
| OPM % | -8% | -2% | 1% | -4% | -13% | 2% | 0% | -3% | -25% | -2% | -8% | -6% | -28% |
| Other Income + | 0 | 3 | 1 | 2 | 8 | 6 | 14 | 3 | 92 | 6 | 35 | 1 | 5,956 |
| Interest | 2 | 2 | 4 | 5 | 6 | 8 | 5 | 18 | 50 | 54 | 60 | 61 | 67 |
| Depreciation | 12 | 12 | 12 | 12 | 11 | 12 | 11 | 11 | 11 | 11 | 12 | 12 | 12 |
| Profit before tax | -31 | -16 | -13 | -26 | -30 | -9 | -2 | -31 | -14 | -64 | -53 | -85 | 5,829 |
| Tax % | 10% | 15% | 18% | 5% | -3% | 89% | -48% | -3% | 1% | -0% | -2% | -7% | 14% |
| Net Profit + | 54 | -61 | -3 | 19 | 135 | -10 | 92 | 80 | 177 | -85 | 10 | 20 | 5,023 |
| EPS in Rs | 10.42 | -11.86 | -0.49 | 3.63 | 25.96 | -1.85 | 17.79 | 15.49 | 31.80 | -15.22 | 1.82 | 3.27 | 836.69 |
Financials of Kiri Industries Ltd
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 + | 691 | 931 | 1,030 | 1,125 | 1,117 | 1,394 | 1,305 | 957 | 1,497 | 945 | 709 | 740 | 794 |
| Expenses + | 619 | 831 | 917 | 966 | 936 | 1,163 | 1,119 | 874 | 1,376 | 983 | 768 | 794 | 878 |
| Operating Profit | 73 | 100 | 113 | 159 | 181 | 231 | 186 | 83 | 121 | -37 | -59 | -54 | -84 |
| OPM % | 11% | 11% | 11% | 14% | 16% | 17% | 14% | 9% | 8% | -4% | -8% | -7% | -11% |
| Other Income + | -28 | 2 | 17 | 159 | 233 | 9 | 265 | 233 | 338 | 215 | 294 | 488 | 5,998 |
| Interest | 80 | 86 | 74 | 9 | 3 | 5 | 5 | 4 | 5 | 6 | 23 | 127 | 241 |
| Depreciation | 37 | 28 | 27 | 29 | 34 | 38 | 44 | 46 | 50 | 49 | 46 | 45 | 46 |
| Profit before tax | -72 | -13 | 30 | 279 | 376 | 198 | 402 | 265 | 404 | 122 | 166 | 262 | 5,627 |
| Tax % | 1% | 22% | 13% | 5% | 5% | 17% | 7% | 5% | 4% | 13% | 0% | -1% | |
| Net Profit + | 10 | 182 | 196 | 266 | 358 | 164 | 376 | 252 | 389 | 107 | 166 | 265 | 4,968 |
| EPS in Rs | 5.22 | 79.88 | 73.71 | 95.40 | 118.38 | 52.36 | 111.69 | 75.10 | 75.00 | 20.58 | 32.07 | 47.59 | 826.56 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 4% | 0% | 1% | 0% | 0% | 0% | 0% |
Financials of Kiri Industries Ltd
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 | 19 | 23 | 27 | 28 | 30 | 31 | 34 | 34 | 52 | 52 | 52 | 56 | 60 |
| Reserves | 161 | 420 | 614 | 1,005 | 1,345 | 1,534 | 1,897 | 2,147 | 2,521 | 2,627 | 2,732 | 3,191 | 3,219 |
| Borrowings + | 782 | 791 | 429 | 184 | 205 | 167 | 153 | 152 | 96 | 49 | 122 | 1,124 | 1,223 |
| Other Liabilities + | 251 | 321 | 270 | 257 | 245 | 327 | 321 | 367 | 406 | 477 | 460 | 355 | 643 |
| Total Liabilities | 1,212 | 1,556 | 1,339 | 1,473 | 1,824 | 2,058 | 2,404 | 2,700 | 3,074 | 3,205 | 3,365 | 4,725 | 5,146 |
| Fixed Assets + | 324 | 368 | 333 | 376 | 412 | 484 | 512 | 563 | 546 | 510 | 437 | 806 | 887 |
| CWIP | 111 | 89 | 6 | 36 | 32 | 38 | 79 | 58 | 63 | 72 | 68 | 63 | 63 |
| Investments | 196 | 394 | 568 | 717 | 948 | 954 | 1,214 | 1,445 | 1,781 | 1,992 | 2,528 | 3,152 | 2,993 |
| Other Assets + | 581 | 705 | 433 | 344 | 433 | 582 | 599 | 634 | 685 | 630 | 332 | 705 | 1,203 |
| Total Assets | 1,212 | 1,556 | 1,339 | 1,473 | 1,824 | 2,058 | 2,404 | 2,700 | 3,074 | 3,205 | 3,365 | 4,725 | 5,146 |
Financials of Kiri Industries Ltd
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 + | 169 | -83 | 226 | 206 | 64 | 141 | 124 | 72 | 92 | 89 | -77 | -342 |
| Cash from Investing Activity + | -120 | -247 | -212 | -105 | -66 | -119 | -104 | -70 | -29 | -18 | 29 | -842 |
| Cash from Financing Activity + | -45 | 325 | 1 | -119 | 2 | -16 | -27 | -7 | -57 | -56 | 50 | 1,194 |
| Net Cash Flow | 4 | -6 | 16 | -19 | 0 | 6 | -7 | -5 | 6 | 14 | 2 | 9 |
| Free Cash Flow | 130 | -133 | 181 | 102 | -1 | 26 | 11 | -5 | 55 | 66 | -85 | -749 |
| CFO/OP | 233% | -81% | 204% | 134% | 43% | 77% | 92% | 130% | 94% | -292% | 129% | 634% |
Financials of Kiri Industries Ltd
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 | 175 | 184 | 90 | 48 | 70 | 66 | 90 | 126 | 70 | 81 | 45 | 54 |
| Inventory Days | 100 | 56 | 42 | 39 | 63 | 69 | 65 | 104 | 90 | 105 | 81 | 109 |
| Days Payable | 80 | 85 | 96 | 87 | 89 | 81 | 100 | 158 | 119 | 213 | 251 | 151 |
| Cash Conversion Cycle | 195 | 155 | 36 | -0 | 44 | 55 | 55 | 72 | 41 | -27 | -125 | 12 |
| Working Capital Days | 20 | 130 | 2 | 19 | 54 | 39 | 40 | 49 | 23 | -14 | -164 | 41 |
| ROCE % | 4% | 7% | 9% | 25% | 27% | 12% | 21% | 12% | 16% | 5% | 7% | 11% |
Guidance history
How Kiri Industries Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 40%+ | Flat | Planned | Planned | — |
| Q4 FY26 call → | 40%+ | Flat | Planned | Planned | — |
| Q3 FY26 call → | 40%+ | Up 2%+ | Planned | Planned | — |
| Q2 FY26 call → | 10–20% | — | Planned | Planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
35 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 | −7.3% | 52% |
| Last 6 months | +26.8% | 78% |
| Last 3 months | +27.1% | 90% |
The price is 34.3% below its all-time high of ₹794.5 (6 Feb 2010). Stocks more than 20% below their peak have their score halved, so 70 became 35.
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 Kiri Industries Ltd: 0.4 × 52 + 0.4 × 78 + 0.2 × 90 = 70, halved to 35 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 Kiri Industries Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
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