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Kesar India Ltd

₹ 1,2440.41%
07 Jan 9:30 a.m. – close price
🔗kesarlands.com•BSE: BSE - SME: 543542•NSE:
Market Cap₹ 3,085 Cr.
Current Price₹ 1,244
High / Low₹ 1,280
Stock P/E799
Book Value₹ 48.4
Dividend Yield0.00 %
ROCE39.6 %
ROE46.2 %
Face Value₹ 10.0
Sales₹ 60.0 Cr.
OPM12.9 %
Mar Cap₹ 3,085 Cr.

ABOUT

Incorporated in 2002, Kesar Lands Ltd isin the business of real estate development and constructing residential and commercial projects, industrial buildings, factory buildings, workshop buildings, etc. All the projects are marketed under the brand name, "Kesar Lands".

KEY POINTS

Business Overview:[1]Kesar India is a real estate development company specializing in luxury residential, commercial, and leisure projects. The company is ISO 9001:2008 certified and a member of CREDAI, IGBC, NAREDCO, and BAI. It is focused on developing the Nagpur real estate market through various projects under six distinct business lines

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsRevenue GuidanceAsset Base ExpansionCapacity Expansion And ProductsPreferential IssuanceJv Partnerships AcquisitionsRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket 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 valueReturn on assets (%)Debt to equity
1.DLF699.2544.84173086.160.861180.09-27.081643.04-16.816.519016.0322.473859.741007.104.037.300.04
2.Lodha Developers1123.6033.71112219.220.38789.8086.503798.5044.6715.6215597.5029.613329.50788.705.255.700.45
3.Prestige Estates1642.2092.3970734.510.11457.40123.882431.705.527.667921.9036.60765.50430.304.471.150.92
4.Phoenix Mills1960.8565.5470119.690.13384.0939.381115.4321.5110.754059.8957.731069.86303.996.486.110.46
5.Godrej Propert.2109.7541.0063547.000.00402.9920.84740.38-32.286.574265.55-18.341549.83405.083.462.670.89
6.Oberoi Realty1715.1527.9362363.230.46760.2628.981779.0434.7917.735327.8156.592233.06760.263.7210.230.18
7.Brigade Enterpr.899.1527.6421984.070.28170.2836.581383.3729.0313.345588.8426.50795.44162.503.393.390.83
8.Kesar India1244.10799.303085.330.001.35-91.5729.81-40.9639.6059.9812.903.861.3525.7418.330.24
–Median: 96 Co.163.2734.05865.880.04.27.344.199.847.61164.1316.911.183.32.962.390.44

Quarterly Results

Standalone figures in ₹ crores

Mar 2022Mar 2023Mar 2024Mar 2025Sep 2022Sep 2023Sep 2024Sep 2025
Sales
-6.7714.4431.3830.170.7521.2550.4929.81
Expenses
-10.3412.2625.9926.521.8312.6529.6725.72
Operating Profit
3.572.185.393.65-1.088.6020.824.09
Other Income
0.430.230.360.600.020.221.500.36
Profit before tax
4.002.285.363.47-1.208.6921.431.96
Tax %
28.75%12.72%33.40%27.67%0.00%25.20%25.29%31.63%
Net Profit
2.851.983.572.51-1.206.5016.021.35
EPS in Rs
142.500.801.441.02-0.492.636.480.54

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
0.190.481.168.4115.1952.6380.6659.98
Expenses
0.150.511.163.7514.1038.6556.1452.24
Operating Profit
0.04-0.03-0.004.661.0913.9824.527.74
Other Income
-0.000.090.040.680.250.582.050.96
Interest
-0.00-0.00-0.000.090.080.140.981.83
Depreciation
0.020.020.020.180.190.360.691.44
Profit before tax
0.020.040.025.071.0714.0624.905.43
Net Profit
0.010.040.013.630.7810.0718.523.86
EPS in Rs
0.502.000.50181.500.324.077.491.56
Dividend Payout %
-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%–

Compounded Profit Growth

10 Years:%
5 Years:239%
3 Years:70%
TTM:-80%

Compounded Sales Growth

10 Years:%
5 Years:179%
3 Years:112%
TTM:-27%

Return on Equity

10 Years:%
5 Years:%
3 Years:39%
Last Year:46%

Stock Price CAGR

10 Years:%
5 Years:%
3 Years:267%
1 Year:59%

Balance Sheet

Standalone figures in ₹ crores

Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
0.030.030.030.033.5324.7124.7124.80
Reserves
-0.86-0.82-0.812.8215.644.5323.1395.10
Borrowings
2.111.982.642.322.1521.7226.9729.23
Other Liabilities
0.931.241.893.9010.2447.9620.5257.31
Total Liabilities
2.212.433.759.0731.5698.9295.33206.44
Fixed Assets
0.060.051.111.021.040.702.746.00
Gross Block
0.060.051.111.761.961.994.72–
Accumulated Depreciation
0.000.000.000.730.921.291.98–
CWIP
-0.00-0.00-0.00-0.00-0.00-0.00-0.00-0.00
Investments
-0.000.170.05-0.00-0.001.720.280.28
Other Assets
2.152.212.598.0530.5296.5092.31200.16
Total Assets
2.212.433.759.0731.5698.9295.33206.44

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
0.360.240.802.30-9.629.17-9.99
Cash from Investing Activity
-0.08-0.11-0.960.580.04-1.170.82
Cash from Financing Activity
-0.03-0.130.660.1015.1819.414.08
Net Cash Flow
0.25-0.000.492.985.6027.41-5.08

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
115.2645.6218.8877.2537.4917.136.24
Inventory Days
–––519.85438.46731.17381.58
Days Payable
–––5.53-0.00378.0122.59
Cash Conversion Cycle
115.2645.6218.88591.57475.95370.29365.23
Working Capital Days
2,670.26958.12270.6081.59310.21-55.6956.88
ROCE %
–3.24%1.31%146.80%8.68%39.29%39.60%

Shareholding Pattern

Numbers in percentages

Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025Dec 2025
Promoters
74.60%74.98%74.98%74.99%74.99%74.99%74.73%73.47%
FIIs
0.00%12.55%15.70%18.62%18.46%18.22%18.74%16.69%
DIIs
––––––––
Public
25.41%12.46%9.30%6.39%6.54%6.79%6.54%9.85%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Kesar India Files SEBI Compliance Certificate for Q4 FY26

13th April 2026, 11:57 pm

Kesar India Limited Publishes Audited Financial Results for Year Ending March 31, 2026

10th April 2026, 11:48 pm

Kesar India Limited announces ₹5,100+ Cr development pipeline with 3-5 year execution visibility

10th April 2026, 4:54 pm

Kesar India Limited Submits SEBI Compliance Certificates for Share Dematerialization

10th April 2026, 1:34 am

Kesar India Limited Reports Strong FY26 Results with 64% Revenue and 52% PAT Growth

9th April 2026, 11:14 pm

Published by Other Websites

External media mentions & references

Major Indian Firms Expand Portfolios Via Strategic Real Estate & Infra Deals

27th January 2026, 7:37 am

Market Movers: Banks Mixed, Industrials Surge, Pharma Faces Scrutiny

27th January 2026, 7:08 am

Kesar India Acquires Nagpur Land, Targets ₹200 Cr Revenue

24th January 2026, 11:36 am

Stocks to Watch: Whirlpool Block Deal, Paytm RBI License, Wipro AI Breakthrough! Plus Earnings & More!

27th November 2025, 7:15 am

Tata Consultancy Services Announces Data Centre Joint Venture with TPG; Reliance Industries Stops Russian Crude Imports

21st November 2025, 7:46 am

News Articles

Editorial & research coverage

Major Indian Firms Expand Portfolios Via Strategic Real Estate & Infra Deals
Major Indian Firms Expand Portfolios Via Strategic Real Estate & Infra Deals

27th January 2026, 7:37 am

Market Movers: Banks Mixed, Industrials Surge, Pharma Faces Scrutiny
Market Movers: Banks Mixed, Industrials Surge, Pharma Faces Scrutiny

27th January 2026, 7:08 am

Kesar India Acquires Nagpur Land, Targets ₹200 Cr Revenue
Kesar India Acquires Nagpur Land, Targets ₹200 Cr Revenue

24th January 2026, 11:36 am

Stocks to Watch: Whirlpool Block Deal, Paytm RBI License, Wipro AI Breakthrough! Plus Earnings & More!
Stocks to Watch: Whirlpool Block Deal, Paytm RBI License, Wipro AI Breakthrough! Plus Earnings & More!

27th November 2025, 7:15 am

Kesar India Acquires Nagpur Land for ₹27 Cr, Eyes ₹200 Cr Revenue
Kesar India Acquires Nagpur Land for ₹27 Cr, Eyes ₹200 Cr Revenue

Documents

Announcements

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

11h - Certificate under Regulation 74(5) confirming demat/remat details for quarter ended Dec 31, 2025.

Purchase Of Land Admeasuring 4 Hectares (9.88 Acres) At Nagpur, Maharashtra

29 Dec - Acquired ~4 hectares (9.88 acres) land at Mouza Sumthana, Hingna, Nagpur on Dec 29, 2025.

Closure of Trading Window

27 Dec - Trading window closed Jan 1, 2026 until 48 hours after unaudited results for quarter/nine months ending Dec 31, 2025.

Announcement under Regulation 30 (LODR)-Acquisition

20 Dec - Kesar India increases Trinity Buildcorp LLP stake from 30% to 37% via Rs.7,000 cash contribution.

Announcement under Regulation 30 (LODR)-Allotment

10 Dec - 31,98,473 shares allotted on Dec 10, 2025 at ₹350 each (≈₹111.95 crore); paid-up capital ₹27,99,81,290.

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Credit Ratings

No credit ratings.

Concalls

No concalls.

Stock Analysis

Description

  1. Kesar India Limited is a real estate development company engaged in residential, commercial, and leisure projects under the 'Kesar Lands' brand.

Key Growth Triggers

  1. Significant capital infusion via preferential issue (~₹291.7 Cr) and warrants for project development and land acquisition.
  2. Strategic land acquisition in Nagpur (~0.81 hectares in Hingna, ~19.11 hectares in Takli, 4 hectares in Sumthana) to expand land bank and future revenue potential (₹900 Cr revenue potential mentioned).
  3. Diversification into new ventures: acquisition of stake in Kesar Capital LLP for share trading/investment, establishment of Kesar Infraventures Private Limited for civil contracting/infrastructure development, and incorporation of Kesar Gold Projects Private Limited for real estate development and construction.
  4. Planned migration from the BSE SME platform to the Main Board of both BSE and NSE to enhance liquidity and visibility.
  5. Recognition as "Emerging Developer of the Year" and inclusion in the 2025 Grohe - Hurun India Real Estate 150 list (6th position nationally for YoY revenue growth of 250% in FY24).
  6. Increase in stake in Trinity Buildcorp LLP from 30% to 37%.

Order Book

Currently no data available for Order Book.

Key Red Flags

  1. Negative operating cash flow observed in FY25 (₹-9.99 Cr) and Q2 FY26 (implied by Q3 results), a reversal from the positive operating cash flow in the previous year.
  2. The company is trading at a high P/E ratio of 811 and Price to book value of 26.1.
  3. Historically, concerns about the company capitalizing interest costs and not paying dividends have been noted, though recent financial performance has improved.

Key Dates To Watch

  1. Announcement of Unaudited Standalone and Consolidated Financial Results for the quarter and half-year ended December 31, 2025. (The trading window was closed from January 1, 2026, pending this announcement, and the current filing is dated January 6, 2026, suggesting the results are imminent).

Corporate Announcements

13th Apr 26
Impact Rating: 3
Kesar India Limited has submitted its confirmation certificate for the quarter ending March 31, 2026, as required by SEBI regulations. This ensures compliance with rules regarding the dematerialization and rematerialization of securities.
10th Apr 26
Impact Rating: -
No description available.
10th Apr 26
Impact Rating: 8
Kesar India Limited announced a significant expansion of its long-term development pipeline, projecting a Gross Development Value (GDV) of over INR 5,100 crore across 29 projects. The company is also evaluating additional opportunities with a potential GDV of over INR 4,000 crore.
9th Apr 26
Impact Rating: 6
Kesar India Limited has submitted SEBI compliance certificates confirming regulatory filings for share dematerialization for the quarters ending March 31, 2026, and December 31, 2025, via its registrar KFin Technologies.
9th Apr 26
Impact Rating: 9
Kesar India Limited announced robust audited results for FY26, with revenue growing 64% YoY to ₹176.50 crore and Profit After Tax (PAT) up 52% to ₹29.90 crore. EBITDA also increased by 61%.