Agricultural Food & otherProducts
Valuation | |
|---|---|
| Market Cap | 4.6 kCr |
| Price/Earnings (Trailing) | 15.1 |
| Price/Sales (Trailing) | 3.33 |
| EV/EBITDA | 12.41 |
| Price/Free Cashflow | 50.15 |
| MarketCap/EBT | 14.53 |
| Enterprise Value | 4.58 kCr |
Fundamentals | |
|---|---|
Growth & Returns | |
|---|---|
| Price Change 1W | 3.5% |
| Price Change 1M | -6.7% |
| Price Change 6M | -17.1% |
| Price Change 1Y | -4.3% |
| 3Y Cumulative Return | 20.5% |
| 5Y Cumulative Return | 9.8% |
| 7Y Cumulative Return | 6.6% |
| 10Y Cumulative Return | 9.5% |
| Revenue (TTM) |
| 1.38 kCr |
| Rev. Growth (Yr) | 49.3% |
| Earnings (TTM) | 302.96 Cr |
| Earnings Growth (Yr) | -1.7% |
Profitability | |
|---|---|
| Operating Margin | 23% |
| EBT Margin | 23% |
| Return on Equity | 16.83% |
| Return on Assets | 11.47% |
| Free Cashflow Yield | 1.99% |
Cash Flow & Liquidity |
|---|
| Cash Flow from Investing (TTM) | -182.73 Cr |
| Cash Flow from Operations (TTM) | 197.11 Cr |
| Cash Flow from Financing (TTM) | -17.86 Cr |
| Cash & Equivalents | 12.91 Cr |
| Free Cash Flow (TTM) | 108.76 Cr |
| Free Cash Flow/Share (TTM) | 21.14 |
Balance Sheet | |
|---|---|
| Total Assets | 2.64 kCr |
| Total Liabilities | 842.09 Cr |
| Shareholder Equity | 1.8 kCr |
| Current Assets | 2 kCr |
| Current Liabilities | 783.9 Cr |
| Net PPE | 420.41 Cr |
| Inventory | 924.82 Cr |
| Goodwill | 26.7 L |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.00 |
| Debt/Equity | 0.00 |
| Interest Coverage | 1.23 K |
| Interest/Cashflow Ops | 747.08 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 5 |
| Dividend Yield | 0.56% |
| Shares Dilution (1Y) | 0.00% |
| Shares Dilution (3Y) | -11.8% |
Profitability: Very strong Profitability. One year profit margin are 22%.
Technicals: Bullish SharesGuru indicator.
Insider Trading: There's significant insider buying recently.
Balance Sheet: Strong Balance Sheet.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Past Returns: In past three years, the stock has provided 20.5% return compared to 12.8% by NIFTY 50.
No major cons observed.
Profitability: Very strong Profitability. One year profit margin are 22%.
Technicals: Bullish SharesGuru indicator.
Insider Trading: There's significant insider buying recently.
Balance Sheet: Strong Balance Sheet.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Past Returns: In past three years, the stock has provided 20.5% return compared to 12.8% by NIFTY 50.
No major cons observed.
Investor Care | |
|---|---|
| Dividend Yield | 0.56% |
| Dividend/Share (TTM) | 5 |
| Shares Dilution (1Y) | 0.00% |
| Earnings/Share (TTM) | 59.18 |
Financial Health | |
|---|---|
| Current Ratio | 2.55 |
| Debt/Equity | 0.00 |
Technical Indicators | |
|---|---|
| RSI (14d) | 56.05 |
| RSI (5d) | 77.32 |
| RSI (21d) | 45.46 |
| MACD Signal | Buy |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Buy |
| RSI Signal | Hold |
| RSI5 Signal | Sell |
| RSI21 Signal | Hold |
| SMA 5 Signal | Buy |
| SMA 10 Signal |
Summary of Kaveri Seed Co.'s latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Kaveri Seed Company reported a robust performance for the first half of FY 2025-26, with revenue from operations increasing by 17.09% to Rs. 1,041.91 crore compared to Rs. 889.85 crore in the same period of the previous year. The EBITDA rose 11.12% to Rs. 333 crore, while net profit was recorded at Rs. 301.45 crore, a growth of 7.9% from Rs. 279.41 crore.
Management highlighted several forward-looking points during the conference call:
Maize Growth: Maize volumes surged by 29.7%, leading to a revenue increase of 56.76%, showcasing its strong market potential. The company is optimistic about the maize segment and anticipates significant volume growth continuing over the next 3 to 5 years.
Cotton Sales and Challenges: The cotton segment saw a decline of over 20% in volumes due to illegal seed usage and increased production costs. Despite this, the contribution from new products in the cotton sector increased from 11% to 36%. Management acknowledges the ongoing difficulties but believes that upcoming hybrids will pave the way for future growth.
Vegetable Seeds: While the vegetable seed market remains competitive and has not seen substantial traction, management is optimistic about growth, anticipating increased revenue in the second half of the year due to significant R&D investments.
Export Projections: The company expects to achieve a 25% to 30% growth in exports for the upcoming quarters, projecting revenues around Rs. 35 crore, primarily in the third and fourth quarters.
Cost Management: Employee and operational expenses are anticipated to rise by 12% to 15%, driven by increments and new hires for expanding R&D and product lines.
Overall, management is hopeful for a stronger performance in the second half despite the challenges faced in Q2, projecting better margins moving forward and emphasizing their focus on diversification beyond the cotton sector.
Understand Kaveri Seed Co. ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| G.V. Bhaskar Rao, Trustee of Pawan Private Trust | 19.61% |
| G.V. Bhaskar Rao, Trustee of Madhushree Private Trust | 19.61% |
| Gundavaram Venkata Bhaskar Rao | 9.68% |
| Vanaja Devi Gundavaram | 4.26% |
| Pawan Gundavaram | 4.03% |
| BOWHEAD INDIA FUND | 3.13% |
| Vamsheedhar Chennamaneni |
Detailed comparison of Kaveri Seed Co. against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| BAYERCROP | Bayer CropScience | 19.83 kCr | 6.24 kCr | -1.10% | -11.50% | 24.17 | 3.18 | - | - |
| RALLIS | Rallis India | 5.31 kCr |
Comprehensive comparison against sector averages
KSCL metrics compared to Agricultural
| Category | KSCL | Agricultural |
|---|---|---|
| PE | 15.82 | 17.38 |
| PS | 3.49 | 1.19 |
| Growth | 11.2 % | 12.3 % |
Kaveri Seed Company Limited researches, develops, produces, processes, and markets hybrid seeds and vegetable crop seeds in India. Its product portfolio consists of seeds for various field crops, such as maize, cotton, sunflower, mustard, sorghum, paddy, pulses, bajra, and wheat; and vegetables comprising tomatoes, okra, chilies, watermelon, gourds, and brinjal. The company also develops micronutrients. It sells its products through distributors and retailers network. It also exports its products to Pakistan, Sri Lanka, Bangladesh, Vietnam, and internationally. The company was founded in 1976 and is based in Secunderabad, India.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
| Buy |
| SMA 20 Signal | Buy |
| SMA 50 Signal | Buy |
| SMA 100 Signal | Buy |
KSCL vs Agricultural (2021 - 2026)
Question 1: Yogesh Mittal: What initiatives is the Company taking for the growth of vegetable seeds, given the lack of traction over the last few quarters?
Answer: The vegetable market is highly competitive, dominated by chili, okra, and tomato. Despite not growing as anticipated, we have increased our R&D efforts and a dedicated team. We remain optimistic about future growth, especially following challenging weather conditions, and expect a strong performance in the second half.
Question 2: Dhruv Saraf: What was the R&D spend for the quarter?
Answer: Our previous year's total R&D expense was approximately Rs. 60 crores. This year, we anticipate quarterly spending between Rs. 15 crores to Rs. 20 crores, primarily for recurring expenses. We also started a new R&D facility which impacts our depreciation costs.
Question 3: Dhruv Saraf: Will employee expenses continue to increase at the same rate for the rest of the year?
Answer: We expect employee costs to rise between 12% to 15%, due to salary increments and an increase in headcount as we expand into new crops and R&D facilities.
Question 4: Dhruv Saraf: Regarding inventory, will there be a further build-up or does it remain at current levels?
Answer: Last year, we anticipated strong sales and thus built up inventory. While we've seen some inventory accumulation, especially in cotton, we expect inventory levels to normalize going forward and remain in line with this year's levels.
Question 5: Amit Doshi: Given the issues in the cotton segment, what portion of our inventory is affected, and how is it counted in the P&L?
Answer: Currently, we're down over 20% in cotton volumes. Our inventory is valued at cost. While production costs have risen, we couldn't pass those on due to market conditions. However, we're not overly concerned; our stock remains fresh, and we expect it to sell eventually.
Question 6: Amit Doshi: What is the export outlook moving forward?
Answer: We expect exports to increase by approximately 25% to 30% this year, especially in the third and fourth quarters, anticipating revenue around Rs. 35 crores. We are optimistic about growth as we receive positive trial results from multiple countries.
Question 7: Amit Doshi: How do you see Q3 and Q4 performance coming up against previous quarters?
Answer: Despite Q2 being traditionally weaker, we believe Q3 and Q4 will surpass the last two quarters in revenue and profitability, adjusted for higher depreciation and other expenses.
Question 8: Anurag Jain: Can you provide an outlook on Jowar, Bajra, and vegetable seeds in the next five years?
Answer: The vegetable seed market is set for growth, currently exceeding 18% annually. Bajra has more potential than Jowar, and we plan to introduce new hybrids for Bajra, which should yield revenue soon.
Question 9: Dhruv Saraf: How do you see the impact of new GM crop regulations?
Answer: There hasn't been current progress with GM crops. Negotiations are stalled, and we must await government clarity, particularly concerning the US-India trade deal.
Question 10: Yogesh Mittal: Does R&D expenditure affect current period P&L?
Answer: Yes, R&D expenses are fully expensed each year. When new seeds are produced and ready for sale, their costs are included in the cost of goods sold.
| 1.76% |
| Mithun Chand Chennamaneni | 1.55% |
| 238 PLAN ASSOCIATES LLC | 1.54% |
| Barclays Wealth Trustees India Pvt Ltd holding in capacity as Trustees to Kaveri Employees Trust | 1.35% |
| OLD BRIDGE FOCUSED EQUITY FUND | 1.33% |
| LONG TERM EQUITY FUND | 1.12% |
Distribution across major stakeholders
Distribution across major institutional holders
| 2.91 kCr |
| +1.40% |
| +12.20% |
| 31.95 |
| 1.82 |
| - |
| - |
| -104.8% |
| -15.1 |
| 334 |
| -19.61 |
| 17 |
| 3.42 |
| 297 |
| Total profit before tax | -104.8% | -15.1 | 334 | -19.61 | 17 | 3.42 | 297 |
| Current tax | -109.8% | 0.02 | 11 | 0.38 | -0.02 | 1.75 | 8.37 |
| Deferred tax | 101.7% | 1.08 | -3.84 | 2.87 | 1.89 | 2.57 | -2.88 |
| Total tax | -98.4% | 1.1 | 7.16 | 3.25 | 1.87 | 4.32 | 5.5 |
| Total profit (loss) for period | -105.3% | -16.2 | 327 | -22.86 | 15 | -0.9 | 291 |
| Other comp. income net of taxes | 83.5% | 0.83 | -0.03 | -1.11 | -0.03 | -0.05 | -0.01 |
| Total Comprehensive Income | -105% | -15.38 | 327 | -23.97 | 15 | -0.95 | 291 |
| Earnings Per Share, Basic | -106.4% | -3.02 | 63.76 | -4.53 | 2.97 | -0.33 | 56.99 |
| Earnings Per Share, Diluted | -106.4% | -3.02 | 63.76 | -4.53 | 2.97 | -0.33 | 56.99 |
| 1153.9% |
| 9.01 |
| 0.24 |
| 0.18 |
| 0.12 |
| 0.39 |
| 0.22 |
| Depreciation and Amortization | 44% | 37 | 26 | 20 | 20 | 21 | 24 |
| Other expenses | 0.8% | 134 | 133 | 131 | 124 | 102 | 119 |
| Total Expenses | 9.3% | 894 | 818 | 781 | 741 | 722 | 668 |
| Profit Before exceptional items and Tax | -11% | 276 | 310 | 277 | 218 | 313 | 262 |
| Total profit before tax | -11% | 276 | 310 | 277 | 218 | 313 | 262 |
| Current tax | -54.5% | 6.01 | 12 | 12 | 5.56 | 4.57 | 9.08 |
| Deferred tax | 5.4% | 5.11 | 4.9 | -2.13 | 3.72 | 3.3 | 1.21 |
| Total tax | -37.5% | 11 | 17 | 10 | 9.28 | 7.87 | 10 |
| Total profit (loss) for period | -9.6% | 265 | 293 | 267 | 209 | 305 | 251 |
| Other comp. income net of taxes | 75.3% | -1.08 | -7.43 | -11.89 | -7.11 | -1.65 | -6.95 |
| Total Comprehensive Income | -7.7% | 264 | 286 | 255 | 202 | 304 | 244 |
| Earnings Per Share, Basic | -1.9% | 51.56 | 52.54 | 46.35 | 35.23 | 50.61 | 40.14 |
| Earnings Per Share, Diluted | -1.9% | 51.56 | 52.54 | 46.35 | 35.23 | 50.61 | 40.14 |
| 42.4% |
| 48 |
| 34 |
| 34 |
| 34 |
| 35 |
| 35 |
| Loans, non-current | 0% | 31 | 31 | 8.45 | 33 | 31 | 33 |
| Total non-current financial assets | 23.8% | 79 | 64 | 42 | 66 | 66 | 67 |
| Total non-current assets | 7% | 675 | 631 | 595 | 576 | 554 | 516 |
| Total assets | -2.9% | 2,515 | 2,591 | 2,345 | 2,011 | 2,242 | 2,005 |
| Borrowings, non-current | - | 0 | 0 | 0 | 0 | 0 | 0.13 |
| Total non-current financial liabilities | 12.8% | 5.92 | 5.36 | 4.18 | 3.64 | 2.8 | 2.55 |
| Provisions, non-current | 0% | 20 | 20 | 13 | 19 | 16 | 15 |
| Total non-current liabilities | -2% | 49 | 50 | 38 | 44 | 43 | 36 |
| Borrowings, current | - | 0 | 0 | 0 | 0.13 | 0.37 | 0.48 |
| Total current financial liabilities | -27.7% | 346 | 478 | 452 | 247 | 274 | 227 |
| Provisions, current | 37.3% | 2.03 | 1.75 | 1.61 | 1.45 | 1.33 | 1.16 |
| Current tax liabilities | - | 2.39 | - | - | 1.06 | 0 | 0.74 |
| Total current liabilities | -35.4% | 689 | 1,066 | 792 | 735 | 546 | 596 |
| Total liabilities | -34% | 738 | 1,117 | 830 | 778 | 588 | 632 |
| Equity share capital | 0% | 10 | 10 | 10 | 10 | 11 | 11 |
| Total equity | 20.5% | 1,777 | 1,475 | 1,515 | 1,232 | 1,653 | 1,373 |
| Total equity and liabilities | -2.9% | 2,515 | 2,591 | 2,345 | 2,011 | 2,242 | 2,005 |
| -53.6% |
| 180 |
| 387 |
| 291 |
| 105 |
| - |
| - |
| Proceeds from sales of PPE | 14.6% | 0.18 | 0.04 | 0.37 | 0.18 | - | - |
| Purchase of property, plant and equipment | -12.2% | 80 | 91 | 102 | 45 | - | - |
| Proceeds from sales of investment property | -47.5% | 347 | 660 | 465 | 467 | - | - |
| Purchase of investment property | -19.4% | 424 | 526 | 477 | 351 | - | - |
| Purchase of intangible assets | 40.9% | 0.48 | 0.12 | 1.35 | 0.01 | - | - |
| Cash receipts from repayment of advances and loans made to other parties | - | 0 | 0 | 0 | 0.79 | - | - |
| Dividends received | 1% | 0.03 | 0.02 | 0.03 | 0.01 | - | - |
| Interest received | -163.3% | 0.31 | 2.09 | 0.83 | 0.37 | - | - |
| Net Cashflows From Investing Activities | -458% | -156.51 | 45 | -115.1 | 72 | - | - |
| Payments to acquire or redeem entity's shares | -100.3% | 0 | 399 | 153 | 146 | - | - |
| Repayments of borrowings | -67.3% | 0.13 | 0.48 | 0.48 | 0.48 | - | - |
| Dividends paid | -7.4% | 26 | 28 | 23 | 23 | - | - |
| Other inflows (outflows) of cash | 6.5% | -0.16 | -0.24 | -0.18 | -0.18 | - | - |
| Net Cashflows from Financing Activities | 93.7% | -26.01 | -427.55 | -176.66 | -170.28 | - | - |
| Net change in cash and cash eq. | -200.6% | -2.42 | 4.4 | -0.94 | 7.43 | - | - |