Kiocl Limited (KIOCL) · mywealthgrid

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About

Kiocl Limited is a sponge iron producer in the ferrous metals sector with a market capitalisation of ₹23,676.85 Cr. Quarterly standalone revenues have ranged from ₹90 Cr to ₹220 Cr in recent periods.

Face value: ₹10

Market cap

₹19,684 Cr

P/E

506.3×

P/B

11.3×

Dividend yield

ROE

ROCE

1.3%

Debt / equity

OPM

-4.8%

EPS (TTM)

₹0.6

Book value

₹28.6

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Extreme profitability swings: net losses of ₹69.21 Cr (Sep 2024) reversed to ₹53.39 Cr profit (Mar 2026), with operating margins spanning −417% to +14.41%. Verify the cause of the near-total revenue collapse in Sep 2024 (₹16.14 Cr) and whether recovery is structural or temporary commodity relief.
Very high PE ratio (1,428.9) relative to ROE of 0.96% suggests the market is pricing significant recovery assumptions; confirm whether the stock reflects sustainable turnaround or cyclical temporary relief.
Sponge iron is commodity-exposed with direct sensitivity to raw material costs and domestic steel demand; clarify the company's hedging coverage and customer concentration risk.
Promoter holding of 99.03% limits external oversight; verify board independence and related-party transaction governance standards.

Generated analysis · source review pending

Growth drivers

Revenue grew 142% from ₹90.94 Cr (Jun 2025) to ₹220.33 Cr (Mar 2026) with net profit returning to ₹53.39 Cr; verify whether this reflects demand recovery, pricing strength, or capacity utilisation improvement.
Operating margin recovered from −45.88% (Jun 2025) to +14.41% (Mar 2026), a 60-point swing; confirm which factors (volume, price, or cost) drove the improvement.
Zero debt (D/E = 0.00) provides balance sheet capacity for working capital or capex expansion if recovery sustains; verify management's capital allocation strategy.

Generated analysis · source review pending

2,336 historical price candles were omitted because the exchange source has not been verified.

₹323.9-3.6%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0)
+High promoter holding of 99% with no pledge

Cons

−Low return on equity of -4.9% (3-yr avg)
−Profit declined 44% a year over the last 5 years
−Revenue shrank over the last 5 years (-23.8% a year)
−Weak interest coverage of 1.8×
−Expensive at 506.3× trailing earnings
−Trading at 11.3× book value

Research score

Structured signal from quality, growth, valuation and momentum.

33/100

Business quality: 21
Growth

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

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Financials

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

Annual Quarterly

Standalone figures · ₹ crore

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,605	1,888	1,938	2,384	3,006	1,543	1,854	591	613
COGS	1,106	1,247	1,394	1,498	1,997	1,122	1,316	413	32
Gross profit	500	641	544	886	1,009	421	538	177	582
	573	562	561	528	629	586	611	378	611
	-74	79	-18	358	380	-164	-73	-200	-29
OPM %	-4.6%	4.2%	-0.9%	15%	12.6%	-10.6%	-3.9%	-33.9%	-4.8%
Depreciation	19	19	27	27	31	25	27	40	39
Interest	1	1	10	15	12	14	14	15	15
	179	125	119	94	74	80	51	50	95
Profit before tax	86	184	64	410	411	-123	-64	-205	12
Tax	5	72	20	109	98	-25	20	-0	-5
Tax %	5.4%	39.3%	31.7%	26.6%	23.8%	-20.4%	30.8%	-0.2%	-39.4%
	81	112	43	301	313	-98	-83	-205	17
PAT margin %	5.1%	5.9%	2.2%	12.6%	10.4%	-6.3%	-4.5%	-34.6%	2.7%
EPS (₹)	1.3	1.8	0.7	4.9	5.2	-1.6	-1.4	-3.4	0.3
EPS adjusted (₹)	1.3	1.8	0.7	5	5.2	-1.6	-1.4	-3.4	0.3
	82.8%	74.7%	100%	33.7%	34.3%	—	—	—	—
Annual report	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 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	635	635	635	622	622	608	608	608	608	608	608
Reserves	1,515	1,467	1,511	1,372	—	1,378	1,536	1,394	1,311	1,104	1,128
	—	—	—	—	—	0	9	412	64	0	0
	387	440	412	329	—	496	508	524	456	577	607
Total equity & liabilities	2,536	2,541	2,558	2,323	—	2,482	2,661	2,938	2,438	2,288	2,343
	254	222	202	200	177	175	179	176	264	782	777
CWIP	0	1	2	4	—	37	111	166	151	169	167
Investments	—	—	—	—	—	0	0	0	100	171	176
	2,283	2,319	2,354	2,119	—	2,270	2,370	2,595	1,923	1,167	1,223
Total assets	2,536	2,541	2,558	2,323	—	2,482	2,661	2,938	2,438	2,288	2,343

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Other Operating Revenue	575.69	0	0	0	—	—
Pellet Plant	37.22	-43.42

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Ratios

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

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	34%	28.1%	37.2%	33.6%	27.3%	29%	30%	94.9%
EBITDA margin %	4.2%	-0.9%	15%	12.6%	-10.6%	-3.9%	-33.9%	-4.8%
EBIT margin %	3.2%	-2.3%	13.9%	11.6%	-12.3%	-5.4%	-40.6%	-11.1%
PAT margin %	5.9%	2.2%	12.6%	10.4%	-6.3%	-4.5%	-34.6%	2.7%
Working capital
Receivable days	12	—	37	35	84	1	16	21
Inventory days	90	—	74	63	108	129	105	1,622
Payable days	32	—	36	24	54	36	177	0
NWC days	71	—	76	74	139	94	-55	1,644
Leverage
Current ratio	9.06	—	7.25	6.62	2.65	4.42	3.56	3.38
Debt to EBITDA	—	—	0	0.02	—	—	—	—
Debt to equity	—	—	0	0	0.21	0.03	0	0
Interest coverage	231.2	7.4	28.6	34.7	-8	-3.5	-12.4	1.8
Asset turnover	0.81	—	0.96	1.13	0.53	0.76	0.26	0.26
Return ratios
Return on assets %	4.8%	—	12.1%	11.8%	-3.3%	-3.4%	-8.9%	0.7%
Return on capital employed %	8.4%	—	19.4%	18.6%	-4.8%	-2.3%	-9.2%	1.3%
Return on equity %	5.6%	—	15.2%	14.6%	-4.9%	-4.3%	-12%	1%

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
	99.03%	99.03%	99.03%	99.03%	99.03%	99.03%	99.03%	99.03%	99.03%	99.03%	99.03%	99.03%
	0%	0%	0%	0.01%	0%	0%	0%	0.02%	0%	0.01%	0.01%	0.04%
	0.13%	0.13%	0.1%	0.09%	0.08%	0.07%	0.07%	0.07%	0.07%	0.03%	0.03%	0.03%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	0.84%	0.84%	0.87%	0.87%	0.89%	0.9%	0.9%	0.88%	0.9%	0.93%	0.93%	0.9%
No. of shareholders	—	—	—	—	—	—	—	—	—	38,115	40,444	39,787

Promoter holding up 0 percentage points since Jun 2023.

Mr. VENKAT KIRAN GANTIExecutive Director-Chairperson-CEO-MD
Mr. GOPALAKRISHNAN GANESANNon-Executive - Non Independent Director
Mr. Ganti Venkat KiranChief Executive Officer
Mr. Ram Krishna MishraChief Financial Officer
Mr. Clafton SiddharthCompany 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.

Portfolio month

Schemes holding

across 1 fund houses

Held by these funds

of the company's equity

All mutual funds

shareholding pattern, Mar 2026

Portfolios as of

August 2026

compared with July 2026

1 schemes

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	18	0	0%	0%	-0

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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.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

27 announcementsExport CSV

1 Oct 2026, 4:44 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	34%	28.1%	37.2%	33.6%	27.3%	29%	30%	94.9%
EBITDA margin %	4.2%	-0.9%	15%	12.6%	-10.6%	-3.9%	-33.9%	-4.8%
EBIT margin %	3.2%	-2.3%	13.9%	11.6%	-12.3%	-5.4%	-40.6%	-11.1%
PAT margin %	5.9%	2.2%	12.6%	10.4%	-6.3%	-4.5%	-34.6%	2.7%
Working capital
Receivable days	12	—	37	35	84	1	16	21
Inventory days	90	—	74	63	108	129	105	1,622
Payable days	32	—	36	24	54	36	177	0
NWC days	71	—	76	74	139	94	-55	1,644
Leverage
Current ratio	9.06	—	7.25	6.62	2.65	4.42	3.56	3.38
Debt to EBITDA	—	—	0	0.02	—	—	—	—
Debt to equity	—	—	0	0	0.21	0.03	0	0
Interest coverage	231.2	7.4	28.6	34.7	-8	-3.5	-12.4	1.8
Asset turnover	0.81	—	0.96	1.13	0.53	0.76	0.26	0.26
Return ratios
Return on assets %	4.8%	—	12.1%	11.8%	-3.3%	-3.4%	-8.9%	0.7%
Return on capital employed %	8.4%	—	19.4%	18.6%	-4.8%	-2.3%	-9.2%	1.3%
Return on equity %	5.6%	—	15.2%	14.6%	-4.9%	-4.3%	-12%	1%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Kiocl LimitedKIOCLKIOCL	₹19,684 Cr	₹19,684 Cr	₹681 Cr	₹-6 Cr	-4.8%	₹39 Cr	2.7%	1.3%	1%	1,644
S.a.l. Steel LimitedSALSTEELSALSTEEL	₹1,432 Cr	₹1,782 Cr	₹167 Cr	₹34 Cr	7%	₹12 Cr	-0.2%	1.1%	-0.4%	488
Vraj Iron And Steel LimitedVRAJVRAJ	₹402 Cr	₹443 Cr	₹643 Cr	₹63 Cr	9.7%	₹36 Cr	5.4%	9.7%	7.7%	66
Vaswani Industries LimitedVASWANIVASWANI	₹146 Cr	₹423 Cr	₹471 Cr	₹44 Cr	8.6%	₹-0 Cr	0.9%	9.6%	2.9%	48
Bihar Sponge Iron LtdBIHSPONGBIHSPONG	₹110 Cr	₹222 Cr	₹22 Cr	₹6 Cr	-5%	₹4 Cr	4.6%	23.1%	—	48

Date	Category	Subject	Filing
1 Oct 2026, 4:44 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
29 Sept 2026, 5:30 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
28 Sept 2026, 1:13 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
10 Sept 2026, 7:10 pm	Others Reg. 34 (1) Annual Report	Reg. 34 (1) Annual Report.	PDF
8 Sept 2026, 1:53 pm	AGM/EGM AGM	50Th AGM Of KIOCL Limited	PDF
7 Aug 2026, 4:27 pm	Board Meeting	Board Meeting Intimation for Intimation Of Board Meeting	PDF
3 Aug 2026, 2:42 pm	Company Update Clarification	Clarification sought from KIOCL Ltd	—
21 Jul 2026, 3:49 pm	Company Update Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-44	-261	-100	-126	-22	111	70	-309	105	343	79
	46	302	-13	581	49	299	-132	129	-127	-157	-57
	-8	-8	-40	-274	-112	-245	-165	337	-372	-80	-16
Net cash flow	-5	33	-153	181	-85	164	-227	157	-395	106	6
Free cash flow	-50	-265	-101	-144	-26	87	33	-327	-5	338	69
CFO / Operating profit %	—	—	—	-159.4%	—	30.9%	18.4%	—	—	—	—

Kiocl Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

8

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

BLAST FURNACE PLANT · revenue

Kiocl Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Dividends8

Board meetings1

Quarterly record

Board and management

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

BLAST FURNACE PLANT · revenue

8

1