Karnawati Innovation Ltd (KARNAWATI)

About

Karnawati Innovation Ltd operates in Packaging within the Industrials sector.

Face value: ₹1

Market cap

₹6 Cr

P/E

1.7×

P/B

5.3×

Dividend yield

ROE

13.5%

ROCE

20.7%

Debt / equity

OPM

28%

EPS (TTM)

₹0.7

Book value

₹0.2

52-week high

—

52-week low

—

840 historical price candles were omitted because the exchange source has not been verified.

₹1.2-0.9%1Y

Quick read

rule-based

Pros

+Strong return on equity of 19.7% (3-yr avg)
+High return on capital employed of 22%
+Healthy operating margin of 28%
+Profit CAGR of 95.7% over the last 3 years
+Almost debt-free (debt/equity 0)

Cons

−Revenue shrank over the last 5 years (-5.6% a year)

Research score

Structured signal from quality, growth, valuation and momentum.

74/100

Business quality: 66
Growth: 67
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Epl LimitedEPLEPL	₹7,443 Cr	₹8,152 Cr	₹5,043 Cr	₹1,000 Cr	20.3%	₹388 Cr	8.3%	19.5%	14.9%	97
Agi Greenpac LimitedAGIAGI	₹5,116 Cr	₹5,355 Cr	₹2,763 Cr	₹628 Cr	22.3%	₹362 Cr	13.2%	18.6%	15.6%	188
Uflex LimitedUFLEXUFLEX	₹4,692 Cr	₹14,545 Cr	₹16,866 Cr	₹2,302 Cr	12.2%	₹682 Cr	2.1%	8.6%	4.1%	89
Tcpl Packaging LimitedTCPLPACKTCPLPACK	₹3,574 Cr	₹4,148 Cr	₹1,872 Cr	₹299 Cr	16.2%	₹115 Cr	5.4%	22.4%	14.4%	98
Polyplex Corporation LimitedPOLYPLEXPOLYPLEX	₹3,228 Cr	₹4,145 Cr	₹7,601 Cr	₹592 Cr	4.9%	₹155 Cr	0.6%	1.1%	1.1%	147
Jindal Poly Films LimitedJINDALPOLYJINDALPOLY	₹2,863 Cr	₹6,866 Cr	₹2,152 Cr	₹-613 Cr	-20.2%	₹-989 Cr	-36.6%	-2%	-29.6%	81
Xpro India LimitedXPROINDIAXPROINDIA	₹2,670 Cr	₹2,959 Cr	₹535 Cr	₹50 Cr	6.3%	₹33 Cr	3.9%	3.9%	2.8%	80
Knack Packaging LimitedKNACKKNACK	₹2,211 Cr	₹2,404 Cr	₹736 Cr	₹133 Cr	18.1%	₹74 Cr	10%	47.1%	41.5%	—
Mold-Tek Packaging LimitedMOLDTKPACMOLDTKPAC	₹2,187 Cr	₹2,231 Cr	₹631 Cr	₹121 Cr	19.1%	₹64 Cr	10.1%	24.3%	17.9%	148
Cosmo First LimitedCOSMOFIRSTCOSMOFIRST	₹2,166 Cr	₹3,752 Cr	₹4,004 Cr	₹428 Cr	10.5%	₹167 Cr	4.3%	11.6%	10.1%	10
Huhtamaki India LimitedHUHTAMAKIHUHTAMAKI	₹1,757 Cr	₹1,859 Cr	₹2,610 Cr	₹225 Cr	7.7%	₹136 Cr	4.8%	12.3%	9.5%	26
Arrow Greentech LimitedARROWGREENARROWGREEN	₹1,306 Cr	₹1,306 Cr	₹247 Cr	₹86 Cr	32.2%	₹64 Cr	23.6%	30.4%	22.4%	141

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	—	5,871	—	—	1	1	2	4	4	1
COGS	—	—	—	—	-1	1	1	4	4	0
Gross profit	—	—	—	—	—	0	0	0	0	0
	—	8,268	—	—	2	0	0	0	0	0
Operating profit (EBITDA)	—	-2,398	—	—	-0	-0	0	0	0	0
OPM %	—	-40.8%	—	—	-4.8%	-3.1%	0.7%	4.2%	5.7%	28%
Depreciation	—	0	—	—	—	0	0	0	0	0
Interest	—	—	—	—	—	0	0	0	0	0
	—	—	—	—	—	0	0	0	0	0
Profit before tax	-0	-2,398	-0	-0	-0	-0	0	0	0	0
Tax	—	0	—	—	—	0	0	0	0	0
Tax %	—	0%	—	—	—	0%	0%	0%	0%	39.1%
	-0	-2,398	-0	-0	-0	-0	0	0	0	0
PAT margin %	—	-40.8%	—	—	-4.8%	-3.1%	1.3%	4.5%	5%	16.1%
EPS (₹)	—	—	—	—	—	0	0	0	0	0
EPS adjusted (₹)	—	—	—	—	—	-0	0	0	0	0
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity capital	5	5	5	5	5
Reserves	-5	-5	-5	-4	-4
Minority interest	—	—	0	—	0
	0	0	0	0	0
	0	1	1	3	1
Total equity & liabilities	1	1	1	4	2
	0	0	0	0	0
CWIP	0	0	0	0	0
Investments	0	0	0	0	0
	1	1	1	3	1
Total assets	1	1	1	4	2

₹ Cr	Mar 2016	Mar 2017	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-0	-0	-0	0	-0	0	0
	0	0	0	0	-0	0	-0
Cash from financing	0	0	0	0	0	0	0
Net cash flow	-0	0	-0	0	-0	0	0
Free cash flow	—	—	—	0	-1	0	0
CFO / Operating profit %	—	—	—	400%	-182.4%	4.4%	15.4%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Margins
Gross margin %	—	—	—	9.2%	9.3%	8.2%	9.2%	51.6%
EBITDA margin %	—	—	-4.8%	-3.1%	0.7%	4.2%	5.7%	28%
EBIT margin %	—	—	-4.8%	-3.1%	0.7%	4.2%	5%	24.7%
PAT margin %	—	—	-4.8%	-3.1%	1.3%	4.5%	5%	16.1%
Working capital
Receivable days	—	—	—	89	114	86	249	283
Inventory days	—	—	—	0	0	5	39	0
Payable days	—	—	—	98	131	53	237	97
NWC days	—	—	—	-9	-17	38	51	185
Leverage
Current ratio	—	—	—	1.2	1.55	2.02	1.31	2.76
Debt to EBITDA	—	—	—	—	0	0	0	0
Debt to equity	—	—	—	0	0	0	0	0
Interest coverage	—	—	—	—	—	—	—	—
Asset turnover	—	—	—	1.09	1.29	2.9	1.13	0.54
Return ratios
Return on assets %	—	—	—	-3.3%	1.7%	12.9%	5.6%	8.7%
Return on capital employed %	—	—	—	-4.6%	3.1%	24%	21.3%	20.7%
Return on equity %	—	—	—	-4.7%	3%	21.7%	19.2%	12.7%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoter	0.04%	0.04%	0.04%	0.04%	0.04%	0%	0%	0%	0%	0%	0%	0%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
DII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	99.96%	99.96%	99.96%	99.96%	99.96%	100%	100%	100%	100%	100%	100%	100%
No. of shareholders	—	—	—	—	—	—	—	—	—	45,991	46,674	45,390

Promoter holding down 0.04 percentage points since Jun 2023.

12 deals · 7 Feb 2023 – 10 Jun 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
10 Jun 2025	TEUDDY TECHNOLOGY PRIVATE LIMITED	Bulk	BSE	Sell	4,88,922	₹1.16	₹0.06 Cr
15 Apr 2025	TEUDDY TECHNOLOGY PRIVATE LIMITED	Bulk	BSE	Buy	4,28,441	₹1.28	₹0.05 Cr
14 May 2024	GOURAVKUMAR	Bulk	BSE	Sell	5,38,068	₹2.95	₹0.16 Cr
9 May 2024	GOURAVKUMAR	Bulk	BSE	Buy	6,17,041	₹2.57	₹0.16 Cr
22 May 2023	ALGOQUANT FINTECH LIMITED .	Bulk	BSE	Buy	3,52,865	₹3.07	₹0.11 Cr
22 May 2023	ALGOQUANT FINTECH LIMITED .	Bulk	BSE	Sell	50,000	₹3.24	₹0.02 Cr
18 May 2023	ALGOQUANT FINTECH LIMITED .	Bulk	BSE	Sell	7,81,907	₹3.63	₹0.28 Cr
16 May 2023	TOPGAIN FINANCE PRIVATE LIMITED	Bulk	BSE	Sell	3,20,000	₹3.34	₹0.11 Cr
15 May 2023	ALGOQUANT FINTECH LIMITED .	Bulk	BSE	Buy	7,00,000	₹2.92	₹0.20 Cr
15 May 2023	TOPGAIN FINANCE PRIVATE LIMITED	Bulk	BSE	Buy	4,00,000	₹2.89	₹0.12 Cr

1–10 of 12

1 / 2

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Ravikumar Kirtibhail PatelManaging Director & Chief Financial Officer
Mr. Jagdip Panachand VoraNon - Executive Non -Independent Director
Mr. Anandbhai JadalaNon - Executive Independent Director
Mr. Vatsal Sanjaybhai PatelNon - Executive Independent Director
Ms. Nidhiben Ravindrakumar JoshiNon - Executive Independent Director

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Karnawati Innovation Ltd. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

No events on record

Corporate actions, results dates and filings will appear here once ingested.

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Announcements

Latest exchange announcements, filings and downloadable documents.

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Karnawati Innovation Ltd

About

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

No events on record

Announcements

No announcements stored for this window

Not in the F&O segment

No fund holdings on record

No events on record

No announcements stored for this window

Announcements

Annual reports

Compounded sales growth

Compounded profit growth

Return on equity

Karnawati Innovation Ltd

About

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

No events on record

Announcements

No announcements stored for this window

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

No fund holdings on record

No events on record

No announcements stored for this window

Announcements

Annual reports

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity