Kothari Products Limited (KOTHARIPRO)

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Kothari Products Limited (KOTHARIPRO) · mywealthgrid

About

Kothari Products Limited is a trading and distribution company in commercial services & supplies with a market capitalization of ₹409.42 Cr. The business model involves wholesale and retail distribution channels. Quarterly revenues range from ₹63 to ₹316 Cr (standalone and consolidated), indicating exposure to cyclical demand patterns in the commercial services sector.

Face value: ₹10

Market cap

₹381 Cr

P/E

11.4×

P/B

0.3×

Dividend yield

ROE

2.7%

ROCE

0.4%

Debt / equity

0.09

OPM

-4.7%

EPS (TTM)

₹5.6

Book value

₹194.0

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margins consistently negative across all quarters (average -4.71%, reaching -25.56% in Dec 2025), indicating core trading operations are unprofitable despite positive net profit — verify whether this reflects other income masking operational stress and whether it is sector-typical
Recent loss quarter (Mar 2026) showed net loss of ₹19 Cr on ₹110 Cr revenue with EPS of -₹3.19 — clarify whether losses are seasonal/cyclical or indicate structural weakness
Very low ROE of 2.74% with highly volatile earnings (EPS ranging -₹3.19 to +₹3.07 in recent quarters) creates uncertainty around earnings quality
Stock declined 9.42% over 1 year despite low valuation at PE 11.67 — investigate whether margin compression and capital inefficiency justify the underperformance

Generated analysis · source review pending

Growth drivers

Some quarters (Jun 2025 revenue ₹248.41 Cr, Dec 2025 revenue ₹161.9 Cr) achieved profitability on sizeable turnover — verify whether the operational changes or business mix that drove these periods can be identified and sustained
Low debt-to-equity ratio of 0.09 provides headroom to finance working capital growth — verify current demand trends in commercial services and trading volumes
Stock reached ₹97.06 in 52-week high versus current ₹68.58 — recovery is possible if core operating margin challenges are resolved
Jun 2026 returned to profitability (₹13.85 Cr) after Mar 2026 loss — assess whether this represents cyclical recovery or sustained operational improvement

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹63.8-2%1Y

Quick read

rule-based

Pros

+Profit CAGR of 81.1% over the last 3 years
+Almost debt-free (debt/equity 0.1)
+High promoter holding of 75% with no pledge

Cons

−Low return on equity of -0.9% (3-yr avg)
−Revenue shrank over the last 5 years (-20.2% a year)
−Weak interest coverage of 0.5×

Research score

Structured signal from quality, growth, valuation and momentum.

54/100

Business quality: 19
Growth: 47
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

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Mmtc LimitedMMTCMMTC	₹8,444 Cr	₹8,444 Cr	₹3 Cr	₹-179 Cr	—	₹447 Cr	—	-0.5%	20.3%	-2,38,864
Mstc LimitedMSTCLTDMSTCLTD	₹4,969 Cr	₹5,114 Cr	₹386 Cr	₹236 Cr	60.6%	₹234 Cr	59.1%	34.9%	26.6%	-92
Bn Agrochem LimitedBNAGROCHEMBNAGROCHEM	₹2,228 Cr	₹2,310 Cr	₹299 Cr	₹-37 Cr	-12.5%	₹20 Cr	6.6%	12%	8.5%	130
Creative Newtech LimitedCNLCNL	₹1,619 Cr	₹1,943 Cr	₹2,783 Cr	₹99 Cr	3.2%	₹74 Cr	2.6%	29.2%	21.4%	75
Pervasive Commodities LtdPERVASIVEPERVASIVE	₹1,090 Cr	₹1,090 Cr	₹43 Cr	₹-0 Cr	-1.1%	₹-0 Cr	-0.1%	0%	-0.1%	548
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The Yamuna Syndicate LtdYSLYSL	₹779 Cr	₹779 Cr	₹69 Cr	₹2 Cr	2.2%	₹52 Cr	75.3%	0.3%	4%	60
The State Trading Corporation Of India LimitedSTCINDIASTCINDIA	₹636 Cr	₹1,811 Cr	₹0 Cr	₹-46 Cr	—	₹21 Cr	—	—	—	—
SMT Engineering LtdSMTELSMTEL	₹598 Cr	₹679 Cr	₹162 Cr	₹41 Cr	25%	₹23 Cr	14.2%	33.2%	25.2%	395
Bijoy Hans LtdARVAYAARVAYA	₹576 Cr	₹579 Cr	₹0 Cr	₹-1 Cr	—	₹0 Cr	—	-3.9%	-3.9%	—
Riddhi Siddhi Gluco Biols LtdRIDDHIRIDDHI	₹505 Cr	₹787 Cr	₹236 Cr	₹-12 Cr	-5.2%	₹61 Cr	-5.2%	2.8%	-0.8%	65

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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 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	4,113	3,117	3,397	1,387	992	958	1,010
COGS	4,081	3,088	3,364	1,366	978	940	989
Gross profit	33	29	33	21	14	18	21
	95	113	25	39	5	151	38
	-62	-83	8	-19	10	-133	-18
OPM %	-1.5%	-2.7%	0.2%	-1.3%	1%	-13.8%	-1.8%
Depreciation	3	3	3	2	2	2	2
Interest	50	43	32	13	6	6	10
	170	76	46	43	32	51	69
Profit before tax	55	-54	19	9	33	-89	39
Tax	20	2	5	4	1	5	5
Tax %	36.6%	4.3%	23.9%	44.4%	2.7%	5.9%	14%
	35	-56	15	5	32	-94	33
PAT margin %	0.8%	-1.8%	0.4%	0.4%	3.3%	-9.8%	3.3%
EPS (₹)	11.6	-18.9	4.9	1.7	10.9	-16	5.2
EPS adjusted (₹)	—	-9.4	2.5	0.9	5.4	-16	5.2
Annual report	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	Mar 2026
Equity capital	30	30	30	30	60	60
Reserves	1,030	1,053	1,124	1,166	1,036	1,098
Minority interest	—	—	—	—	29	—
	1,025	343	275	82	264	99
	464	342	51	55	109	76
Total equity & liabilities	2,549	1,768	1,479	1,333	1,497	1,333
	27	26	25	9	28	16
CWIP	—	—	0	15	0	1
Investments	66	112	281	363	512	580
	2,456	1,630	1,173	946	957	736
Total assets	2,549	1,768	1,479	1,333	1,497	1,333

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 %
Trading Items	1,026.06	-15.62	892.54	162.23	730.31	-2.14
Real Estate Etc.	38.66	64.12

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	0.8%	0.9%	1%	1.5%	1.5%	1.9%	2.1%
EBITDA margin %	-1.5%	-2.3%	0.2%	-1.5%	-0.4%	-13.8%	-4.7%
EBIT margin %	-1.6%	-2.4%	0.1%	-1.7%	-0.5%	-14%	-5%
PAT margin %	0.8%	-1.8%	0.4%	0.4%	3.3%	-9.8%	3.3%
Working capital
Receivable days	—	240	135	215	252	172	162
Inventory days	—	0	1	2	2	28	1
Payable days	—	50	34	11	17	27	26
NWC days	—	190	102	206	238	173	138
Leverage
Current ratio	—	2.13	3.5	6.06	12.67	3.98	3.85
Debt to EBITDA	—	—	46.5	—	—	—	—
Debt to equity	—	0.97	0.32	0.24	0.07	0.24	0.09
Interest coverage	2.1	0	1.6	1.6	4.3	-14.6	0.5
Asset turnover	—	1.22	1.92	0.94	0.74	0.64	0.76
Return ratios
Return on assets %	—	-2.2%	0.8%	0.4%	2.4%	-6.3%	2.5%
Return on capital employed %	—	0.1%	3.6%	1.5%	2.1%	-6.6%	0.4%
Return on equity %	—	-5.3%	1.4%	0.4%	2.7%	-8.6%	2.9%

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
	74.99%	74.99%	74.99%	74.99%	74.97%	74.97%	74.99%	74.99%	74.99%	74.99%	74.99%	74.99%
FII	0%	0%	0.01%	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%
	25.01%	25.01%	25%	25.01%	25.03%	25.03%	25.01%	25.01%	25.01%	25.01%	25.01%	25.01%
No. of shareholders	—	—	—	—	—	—	—	—	12,437	12,138	12,183	12,104

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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 Kothari Products Limited. 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.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

48 announcementsExport CSV

1 Oct 2026, 5:33 pmCompany Update

VOTING RESULTS OF THE 42ND AGM

General PDF

30 Sept 2026, 4:51 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

14 Sept 2026, 4:07 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

8 Sept 2026, 3:40 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

7 Sept 2026, 3:15 pmCompany Update

INTIMATION UNDER REGULATION 30 - PROVIDING A WEB-LINK OF THE ANNUAL REPORT 2025-26.

General PDF

7 Sept 2026, 3:07 pmCompany Update

NOTICE OF FORTY SECOND ANNUAL GENERAL MEETING

General PDF

7 Sept 2026, 3:02 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

29 Aug 2026, 3:37 pmCompany Update

INTIMATION OF THE DATE OF 42ND ANNUAL GENERAL MEETING

General PDF

Date	Category	Subject	Filing
1 Oct 2026, 5:33 pm	Company Update General	VOTING RESULTS OF THE 42ND AGM	PDF
30 Sept 2026, 4:51 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	0.8%	0.9%	1%	1.5%	1.5%	1.9%	2.1%
EBITDA margin %	-1.5%	-2.3%	0.2%	-1.5%	-0.4%	-13.8%	-4.7%
EBIT margin %	-1.6%	-2.4%	0.1%	-1.7%	-0.5%	-14%	-5%
PAT margin %	0.8%	-1.8%	0.4%	0.4%	3.3%	-9.8%	3.3%
Working capital
Receivable days	—	240	135	215	252	172	162
Inventory days	—	0	1	2	2	28	1
Payable days	—	50	34	11	17	27	26
NWC days	—	190	102	206	238	173	138
Leverage
Current ratio	—	2.13	3.5	6.06	12.67	3.98	3.85
Debt to EBITDA	—	—	46.5	—	—	—	—
Debt to equity	—	0.97	0.32	0.24	0.07	0.24	0.09
Interest coverage	2.1	0	1.6	1.6	4.3	-14.6	0.5
Asset turnover	—	1.22	1.92	0.94	0.74	0.64	0.76
Return ratios
Return on assets %	—	-2.2%	0.8%	0.4%	2.4%	-6.3%	2.5%
Return on capital employed %	—	0.1%	3.6%	1.5%	2.1%	-6.6%	0.4%
Return on equity %	—	-5.3%	1.4%	0.4%	2.7%	-8.6%	2.9%

19 deals · 1 Oct 2024 – 27 Mar 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
27 Mar 2026	MITESH KOTHARI	Bulk	NSE	Buy	8,00,000	₹64.17	₹5.13 Cr
27 Mar 2026	ARTI KOTHARI	Bulk	NSE	Sell	6,00,000	₹64.17	₹3.85 Cr
14 Oct 2025	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	3,02,942	₹96.77	₹2.93 Cr
14 Oct 2025	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	3,02,942	₹96.64	₹2.93 Cr
17 Feb 2025	DEEPAK KOTHARI	Bulk	NSE	Buy	12,10,927	₹176.40	₹21.36 Cr
17 Feb 2025	DHAM SECURITIES PRIVATE LIMITED	Block	NSE	Sell	12,10,927	₹176.40	₹21.36 Cr
17 Feb 2025	DEEPAK KOTHARI	Block	NSE	Buy	12,10,927	₹176.40	₹21.36 Cr
17 Feb 2025	DHAM SECURITIES PRIVATE LIMITED	Bulk	NSE	Sell	12,10,927	₹176.40	₹21.36 Cr
30 Dec 2024	ARTI KOTHARI	Block	NSE	Buy	20,89,071	₹195.30	₹40.80 Cr
30 Dec 2024	DHAM SECURITIES PRIVATE LIMITED	Block	NSE	Sell	20,89,071	₹195.30	₹40.80 Cr

1–10 of 19

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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.

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	120	670	241	162	100	-63
	74	13	-168	35	-127	25
	-138	-714	-81	-198	51	-21
Net cash flow	56	-31	-8	-1	24	-58
Free cash flow	119	668	238	159	98	-70
CFO / Operating profit %	—	—	—	—	—	—

Kothari Products 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

No fund holdings on record

Documents

Announcements

Annual reports

Events

Announcements

Not in the F&O segment

No fund holdings on record

13

1

3

Announcements

Annual reports

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

REAL ESTATE ETC. · revenue

Kothari Products 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

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

Announcements

Ratio timeline

Not in the F&O segment

No fund holdings on record

Quarterly record

Dividends13

Board meetings1

Bonus issues3

Bulk & block deals

Board and management

Announcements

Annual reports

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

REAL ESTATE ETC. · revenue

13

1

3