Kerala Ayurveda Ltd (KERALAYUR)

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Kerala Ayurveda Ltd (KERALAYUR) · mywealthgrid

About

Kerala Ayurveda Ltd manufactures Ayurvedic pharmaceutical products, operating as a small-cap in India's healthcare sector with quarterly revenues of ₹10–13 Cr and market cap ₹222.43 Cr. The company is positioned in the niche Ayurvedic medicines segment within the pharmaceuticals industry.

Face value: ₹10

Market cap

₹191 Cr

P/E

—

P/B

16.8×

Dividend yield

ROE

-160.7%

ROCE

-22.6%

Debt / equity

7.27

OPM

-13.5%

EPS (TTM)

₹-13.0

Book value

₹8.8

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Seven of eight recent quarters unprofitable; Mar 2021 showed ₹5.97 Cr loss on ₹10.97 Cr revenue; operating margin -4.15% vs. 7–9% in 2019
Extreme leverage: D/E 6.95 with negative ROE -67.03%; verify debt maturity, covenant terms, and lender flexibility given persistent losses
Root cause unclear: revenue stable (₹10–13 Cr quarterly) yet profitability collapsed; verify whether demand is weakening, pricing power is eroding, or costs inflated
Stock price crashed 65.7% over one year; verify whether recent results (filed Aug 12, 2026) indicate stabilization or continued deterioration

Generated analysis · source review pending

Growth drivers

Ayurvedic pharma category expansion: verify whether India's Ayurveda medicines market is growing and whether company has market-share opportunity
Operational recovery: margins compressed from 7–9% in 2019 to -4.15%, yet revenue remained ₹10–13 Cr stable; clarify whether this reflects demand weakness or cost inflation
Recent quarterly results (filed Aug 12, 2026): verify whether profitability trends are stabilizing or accelerating, critical for assessing turnaround viability

Generated analysis · source review pending

2,318 historical price candles were omitted because the exchange source has not been verified.

₹147.0-0.4%1Y

Quick read

rule-based

Pros

+Revenue CAGR of 16.1% over the last 5 years

Cons

−Low return on equity of -78.6% (3-yr avg)
−Heavily leveraged (debt/equity 7.3)
−Weak interest coverage of -1.2×
−Trading at 16.8× book value
−Promoter holding fell 2.2 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

33/100

Business quality: 0
Growth: 48
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
Torrent Pharmaceuticals LimitedTORNTPHARMTORNTPHARM	₹1,61,325 Cr	₹1,76,123 Cr	₹15,723 Cr	₹5,191 Cr	32.6%	₹2,181 Cr	15.3%	14.5%	27.1%	163
Zydus Lifesciences LimitedZYDUSLIFEZYDUSLIFE	₹1,14,284 Cr	₹1,26,053 Cr	₹28,592 Cr	₹8,316 Cr	31.2%	₹4,513 Cr	18.9%	23.4%	19.7%	212
Laurus Labs LimitedLAURUSLABSLAURUSLABS	₹1,07,176 Cr	₹1,09,573 Cr	₹7,270 Cr	₹2,034 Cr	26.1%	₹1,093 Cr	13.1%	21.3%	18.2%	263
Mankind Pharma LimitedMANKINDMANKIND	₹1,04,696 Cr	₹1,11,007 Cr	₹14,738 Cr	₹3,827 Cr	25.3%	₹2,068 Cr	13.6%	14.2%	12.5%	117
Aurobindo Pharma LimitedAUROPHARMAAUROPHARMA	₹97,389 Cr	₹1,05,065 Cr	₹34,935 Cr	₹7,085 Cr	20.3%	₹3,713 Cr	10.4%	14.7%	9.9%	252
Lupin LimitedLUPINLUPIN	₹92,866 Cr	₹98,777 Cr	₹29,967 Cr	₹9,538 Cr	31.5%	₹5,529 Cr	19.2%	34.2%	26.9%	181
Glenmark Pharmaceuticals LimitedGLENMARKGLENMARK	₹65,781 Cr	₹65,781 Cr	₹17,737 Cr	₹4,797 Cr	26.9%	₹1,496 Cr	8%	37.8%	0%	83
Alkem Laboratories LimitedALKEMALKEM	₹62,431 Cr	₹64,055 Cr	₹15,081 Cr	₹3,032 Cr	20.4%	₹2,158 Cr	16%	21.5%	17.8%	152
Biocon LimitedBIOCONBIOCON	₹60,413 Cr	₹75,238 Cr	₹17,321 Cr	₹3,536 Cr	20.4%	₹495 Cr	2.2%	3.9%	1.4%	85
Abbott India LimitedABBOTINDIAABBOTINDIA	₹56,901 Cr	—	₹4,310 Cr	₹921 Cr	27.3%	₹691 Cr	22.4%	44.1%	34.5%	110
Ipca Laboratories LimitedIPCALABIPCALAB	₹49,299 Cr	₹50,003 Cr	₹10,126 Cr	₹2,232 Cr	20.5%	₹1,310 Cr	12.3%	17.8%	15.2%	308
Gland Pharma LimitedGLANDGLAND	₹47,428 Cr	₹47,671 Cr	₹6,725 Cr	₹1,751 Cr	25.3%	₹1,129 Cr	16%	14.8%	10.5%	255

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Financials

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

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	62	80	93	108	120	131
COGS	15	17	20	22	23	28
Gross profit	47	63	73	86	98	104
	45	52	71	79	103	121
	2	11	2	7	-5	-18
OPM %	3.4%	13.6%	2.4%	6.1%	-4.2%	-13.5%
Depreciation	1	1	1	1	5	5
Interest	8	8	5	4	4	7
	0	1	3	1	2	14
Profit before tax	-7	3	-1	1	-12	-16
Tax	-2	0	-0	2	2	-0
Tax %	-28%	14.6%	-23.2%	167.7%	14.1%	-0.2%
	-5	2	-1	-2	-14	-16
PAT margin %	-7.8%	2.9%	-1%	-1.4%	-11.6%	-12.4%
EPS (₹)	-4.3	2.6	-0.5	-1.4	-11.6	-30.5
EPS adjusted (₹)	-4.6	2.2	-0.9	-1.3	-11.6	-13.1
Annual report	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	Mar 2026
Equity capital	11	11	11	12	12	13
Reserves	-7	-4	-5	20	-3	-2
Minority interest	2	2	2	3	3	4
	77	70	74	68	66	81
	33	32	34	38	50	43
Total equity & liabilities	114	110	116	141	129	138
	32	32	46	46	47	50
CWIP	14	4	7	7	9	8
Investments	0	0	0	0	0	0
	68	74	63	88	73	81
Total assets	114	110	116	141	129	138

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	7	-1	10	2	5	-24
	-1	-2	-7	-1	-15	-5
	6	-13	-1	18	-9	32
Net cash flow	12	-16	2	18	-19	3
Free cash flow	6	-3	4	1	-9	-30
CFO / Operating profit %	357.2%	-4.6%	438.2%	31%	—	—

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	75.9%	78.6%	78.5%	79.6%	81.1%	79%
EBITDA margin %	3.4%	13.6%	2.4%	6.1%	-4.2%	-13.5%
EBIT margin %	1.3%	12.1%	1.2%	4.8%	-8.3%	-17.7%
PAT margin %	-7.8%	2.9%	-1%	-1.4%	-11.6%	-12.4%
Working capital
Receivable days	61	61	51	53	59	38
Inventory days	268	254	227	258	208	200
Payable days	149	168	137	129	93	129
NWC days	179	147	141	182	174	109
Leverage
Current ratio	1.27	0.62	0.67	1.49	0.46	0.45
Debt to EBITDA	36.87	6.4	32.72	10.3	—	—
Debt to equity	22.49	11.45	13.2	2.1	6.95	7.27
Interest coverage	0.1	1.2	0.3	1.3	-2	-1.2
Asset turnover	0.54	0.73	0.81	0.77	0.93	0.95
Return ratios
Return on assets %	-4.2%	2.1%	-0.8%	-1.1%	-10.8%	-11.8%
Return on capital employed %	1.1%	15.5%	2.5%	7%	-11.6%	-22.6%
Return on equity %	-141.9%	38.6%	-16.1%	-4.8%	-147.1%	-146.8%

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 (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	61.52%	63.44%	58.58%	58.58%	58.58%	58.58%	58.58%	37.83%	33.14%	33.14%	35.61%	35.61%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0.22%	0.17%	0.17%
	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	38.44%	36.52%	41.38%	41.38%	41.38%	41.38%	41.38%	62.13%	66.82%	66.6%	64.18%	64.18%
No. of shareholders	—	—	—	—	—	—	—	—	9,938	9,952	10,225	10,372

Promoter holding down 25.91 percentage points since Sep 2023.

49 deals · 4 Oct 2023 – 13 Aug 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
13 Aug 2026	SANTOSH INDUSTRIES LIMITED	Bulk	BSE	Sell	2,40,500	₹159.97	₹3.85 Cr
13 Aug 2026	AUTHUM INVESTMENT & INFRASTRUCTURE LIMITED	Bulk	BSE	Buy	2,36,201	₹159.99	₹3.78 Cr
24 Mar 2026	ZAPFIN TEKNOLOGIES PRIVATE LIMITED	Bulk	BSE	Buy	1,00,000	₹172.49	₹1.72 Cr
24 Mar 2026	NIMISH CHANDULAL SHAH	Bulk	BSE	Sell	1,00,000	₹172.49	₹1.72 Cr
23 Mar 2026	GPR FINANCE CORP	Bulk	BSE	Sell	1,50,050	₹168.90	₹2.53 Cr
23 Mar 2026	PRADEEP GHISULAL RATHOD	Bulk	BSE	Buy	1,50,050	₹168.91	₹2.53 Cr
3 Sept 2025	KATRA PHYTOCHEM (INDIA) PRIVATE LIMITED	Bulk	BSE	Sell	2,74,399	₹435.38	₹11.95 Cr
3 Sept 2025	KATRA PHYTOCHEM (INDIA) PRIVATE LIMITED	Bulk	BSE	Buy	399	₹450.56	₹0.02 Cr
4 Aug 2025	KATRA PHYTOCHEM (INDIA) PRIVATE LIMITED	Bulk	BSE	Sell	2,00,000	₹500.41	₹10.01 Cr
27 Jun 2025	KAMADGIRI EXPORTS PRIVATE LIMITED	Bulk	BSE	Buy	1,09,444	₹563.45	₹6.17 Cr

1–10 of 49

1 / 5

Mr. RAMESH VANGALNon-Executive - Non Independent Director-Chairperson related to Promoter
Mr. KUNJUPANICKER ANIL KUMARExecutive Director
Mr. KSHITI RANJAN DASNon-Executive - Independent Director
Mrs. SHILPA KIRAN GUDUDURNon-Executive - Independent Director
Mr. DR K JAYARAJANNon-Executive - Non Independent Director
Mr. RAJESH SHARMANon-Executive - Independent Director
Mr. UTKARSH SINGHNon-Executive - Non Independent Director
Mr. SAIF KHANNon-Executive - Independent Director
Mr. Vivek SunderChief Executive Officer
Mr. Binu ThomasCompany Secretary & Compliance Officer

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

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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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 Kerala Ayurveda 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

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Events

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

1

Board meeting to consider results12 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

17 announcementsExport CSV

29 Sept 2026, 8:49 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

28 Sept 2026, 6:13 pmCompany Update

Summary Of Proceedings Of AGM.

General PDF

28 Sept 2026, 6:09 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

28 Sept 2026, 4:35 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

22 Sept 2026, 6:40 pmAGM/EGM

Corrigendum To The Notice Of The 34Th Annual General Meeting Of Kerala Ayurveda Limited To Be Held On September 28, 2026.

AGM PDF

22 Sept 2026, 6:35 pmCompany Update

Announcement under Regulation 30 (LODR)-Preferential Issue

Preferential Issue PDF

6 Sept 2026, 9:41 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

5 Sept 2026, 11:02 pmAGM/EGM

Notice Of 34Th Annual General Meeting Of Kerala Ayurveda Limited

AGM PDF

Date	Category	Subject	Filing
29 Sept 2026, 8:49 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
28 Sept 2026, 6:13 pm	Company Update General	Summary Of Proceedings Of AGM.	PDF

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Kerala Ayurveda Ltd

About

Key insights

Key risks

Growth drivers

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

Events

Board meetings1

Announcements

Ratio timeline

Not in the F&O segment

No fund holdings on record

Board meetings1

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Return on equity

1

1