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Stock Analysis

Description

KRBL is the world's leading basmati rice producer with fully integrated operations across the entire value chain, from seed development to marketing and branding.

Key Growth Triggers

Discussion of geopolitical factors like US tariffs on countries trading with Iran, impacting the global basmati export market. Exports, driven by its 'India Gate' brand, are a key growth segment for the company.

Key Red Flags

Potential adverse impact on export revenues due to US tariffs on countries trading with Iran.
Ongoing Enforcement Directorate (ED) investigation concerning its Joint Managing Director and associated entities, with statutory auditors issuing a qualified report, though independent reviews have indicated no direct financial impact on financial statements.

Corporate Announcements

16th Apr 26

Impact Rating: -

No description available.

31st Mar 26

Impact Rating: 7

KRBL Limited has disclosed receiving an order from the Assistant Commissioner, Central Goods and Services Tax, for FY 2021-22. The order involves a tax demand of ₹4.57 lakh and a penalty of ₹28.80 lakh. The company plans to appeal.

25th Mar 26

Impact Rating: 6

KRBL Limited announced a trading window closure for designated employees and relatives, starting April 1, 2026, ahead of the declaration of its audited financial results for the quarter and fiscal year ending March 31, 2026.

17th Mar 26

Impact Rating: 4

KRBL Limited has scheduled a physical one-to-one interaction with investor First Water Capital Fund for Friday, March 20, 2026, to engage with institutional investors and analysts.

27th Feb 26

Impact Rating: 8

KRBL Limited has received an arbitral award favouring Reliable Trading Company, ordering payments of SAR 30,990,241.25 and USD 21,51,399.15. The company plans to challenge this award legally under Section 34 of the Arbitration and Conciliation Act, 1996.

Peer Comparision

S.No.	Name	Current Price (Rs.)	Price to Earning	Market Capitalization (Rs.Cr.)	Dividend yield (%)	Net Profit latest quarter (Rs.Cr.)	YOY Quarterly profit growth (%)	Sales latest quarter (Rs.Cr.)	YOY Quarterly sales growth (%)	Return on capital employed (%)	Sales (Rs.Cr.)	OPM (%)	Profit after tax (Rs.Cr.)	Profit after tax latest quarter (Rs.Cr.)	Price to book value	Return on assets (%)	Debt to equity
1.	L T Foods	370.90	20.25	12879.61	0.81	163.85	10.42	2765.74	31.22	19.18	9732.83	11.13	636.13	163.85	3.08	9.06	0.43
2.	KRBL	357.75	13.44	8188.54	0.98	172.02	67.69	1511.08	18.94	11.85	6219.58	13.46	609.30	172.02	1.50	7.84	0.01
3.	Guj. Ambuja Exp	140.19	31.16	6430.10	0.18	38.02	-45.15	1486.69	32.19	11.46	5175.42	6.91	206.33	38.02	2.08	7.18	0.09
4.	Kaveri Seed Co.	887.80	15.06	4566.76	0.56	-16.20	-2202.99	218.90	59.27	20.08	1341.73	24.55	303.15	-15.43	2.54	11.11	0.00
5.	GRM Overseas	171.05	46.39	3148.28	0.00	14.76	60.61	362.43	14.88	13.50	1351.84	6.20	67.87	14.76	6.62	7.29	0.44
6.	TruAlt Bioenergy	366.55	24.68	3143.26	0.00	-37.94	-103.32	114.86	-70.41	14.18	1907.72	16.21	146.64	-37.94	–	5.38	1.10
7.	Sanstar	95.08	86.34	1732.78	0.00	0.63	-91.62	196.43	-4.45	11.76	812.46	2.30	20.07	0.63	2.63	6.84	0.03
–	Median: 37 Co.	140.53	20.25	313.56	0.0	4.23	10.42	119.75	22.99	13.84	416.39	7.45	16.37	4.23	2.54	7.11	0.43

Quarterly Results

Standalone figures in ₹ crores

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	1,319	1,536	1,280	1,414	1,214	1,438	1,318	1,199	1,270	1,682	1,442	1,584	1,511
Expenses	1,034	1,257	1,137	1,163	1,020	1,260	1,140	1,082	1,148	1,487	1,219	1,392	1,285
Operating Profit	285	279	144	252	194	178	178	117	122	195	224	193	226
Other Income	21	18	43	27	33	28	9	22	36	8	11	32	30
Profit before tax	285	274	160	257	207	179	153	114	138	182	207	201	232
Tax %	25%	25%	26%	24%	26%	25%	25%	24%	25%	27%	25%	25%	26%
Net Profit	213	205	118	195	153	134	114	86	103	133	154	150	172
EPS in Rs	9.05	8.72	5.00	8.27	6.69	5.84	4.97	3.78	4.48	5.79	6.74	6.58	7.52

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

	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	2,763	3,059	3,345	3,144	3,246	4,120	4,499	3,992	4,211	5,365	5,385	5,594	6,220
Expenses	2,359	2,571	2,895	2,495	2,467	3,269	3,627	3,168	3,548	4,426	4,582	4,920	5,382
Operating Profit	403	488	450	649	779	850	872	824	663	939	802	674	837
Other Income	67	-1	92	6	40	15	22	22	42	92	97	61	82
Interest	76	81	67	55	69	68	62	24	13	15	24	15	12
Depreciation	58	53	50	61	68	64	73	72	74	76	79	81	86
Profit before tax	337	353	425	539	682	733	759	751	618	941	795	640	822
Net Profit	265	281	327	401	462	503	559	560	460	701	595	476	609
EPS in Rs	11.27	11.93	13.91	17.04	19.62	21.38	23.77	23.80	19.54	29.77	26.01	20.79	26.63
Dividend Payout %	11%	14%	14%	12%	12%	12%	12%	15%	18%	3%	15%	17%	–

Balance Sheet

Standalone figures in ₹ crores

	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	24	24	24	24	24	24	24	24	24	24	23	23	23
Reserves	996	1,235	1,437	1,848	2,256	2,694	3,095	3,662	4,040	4,661	4,826	5,208	5,450
Borrowings	1,380	1,351	1,167	1,090	1,245	1,428	572	369	145	250	545	407	71
Other Liabilities	288	389	314	424	324	481	723	565	531	647	523	578	703
Total Liabilities	2,687	2,999	2,942	3,386	3,849	4,627	4,413	4,619	4,739	5,581	5,917	6,215	6,247
Fixed Assets	558	635	760	1,003	971	930	967	935	911	886	890	909	913
Gross Block	879.24	1,011.06	1,183.63	1,486.31	1,521.54	1,539.85	1,644.93	1,675.43	1,722.58	1,770.12	1,847.13	1,894.04	–
Accumulated Depreciation	321.39	376.24	423.83	483.66	550.58	610.28	677.84	740.69	811.28	884.02	957.29	985.22	–
CWIP	14	114	100	2	2	1	12	9	2	16	13	21	36
Investments	11	11	17	14	13	12	10	23	25	35	119	355	1,801
Other Assets	2,104	2,240	2,065	2,367	2,862	3,685	3,424	3,652	3,801	4,644	4,895	4,931	3,496
Total Assets	2,687	2,999	2,942	3,386	3,849	4,627	4,413	4,619	4,739	5,581	5,917	6,215	6,247

Cash Flows

Standalone Figures in ₹ Crores / Yearly

	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	-212	324	432	265	36	-115	1,212	384	561	-360	223	960
Cash from Investing Activity	-125	-231	-85	-202	-24	20	-54	-12	-206	206	-85	-523
Cash from Financing Activity	388	-150	-335	-78	25	60	-1,148	-227	-322	5	-157	-252
Net Cash Flow	51	-57	11	-15	36	-36	10	145	32	-149	-18	186

Ratios

Standalone Figures in ₹ Crores / Yearly

	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	37	38	17	27	28	35	19	18	25	19	21	31
Inventory Days	283	287	249	331	414	395	323	392	336	404	425	358
Days Payable	25	24	20	42	19	28	44	29	22	12	12	14
Cash Conversion Cycle	295	301	246	316	423	402	298	382	339	412	434	375
Working Capital Days	73	86	89	116	154	163	167	228	234	260	264	234
ROCE %	20%	17%	19%	21%	23%	21%	21%	20%	15%	21%	16%	12%

Shareholding Pattern

Numbers in percentages

	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
Promoters	59.98%	59.98%	59.98%	60.17%	60.17%	60.17%	60.17%	60.17%	60.17%	60.17%	60.17%	60.17%	60.17%
FIIs	4.94%	4.68%	4.32%	3.73%	3.31%	3.49%	4.14%	4.34%	5.34%	5.13%	6.72%	6.54%	7.56%
DIIs	0.03%	0.06%	0.09%	0.12%	0.14%	0.20%	0.40%	0.30%	0.27%	0.39%	0.62%	0.68%	0.67%
Public	28.97%	29.19%	29.53%	29.72%	30.10%	29.88%	29.04%	28.93%	27.95%	28.05%	26.23%	26.34%	25.33%