On 6 Nov 2026, Kkalpana Industries (India) was priced at ₹5.69, or 81.3× trailing earnings, against an industry P/E of 22.1×, and the shares are 48% below their 52-week high. Its ROCE of 2.5% is the lowest among the 7 largest Specialty Chemicals peers, and sales and net profit fell 48% and 25% a year over 3 years, though net profit is above operating profit, which points to a one-off gain. The company has almost no debt. It is a small-cap company with a market cap of ₹54 Cr, ranked 162nd of 204 Specialty Chemicals companies by market cap; the shares fell 46% over the past year.
- ₹5.82
- ₹5.82
- ₹5.49
- ₹5.61
- 17K
Health check
- ReturnsBehind
−45.8% over a year, better than 0 of 7 peers.
- Price tagDistorted
A one-off gain inflates profit, so P/E isn’t comparable right now.
- GrowthShrinking
Sales −48.4%, profit −25.2% a year over 3 years.
- ProfitabilityWeak
ROCE 2.5% vs peer median 24.4%.
- Balance sheetFair
Practically debt-free, Piotroski 7 of 9.
- Red flags5 to check
Return on equity is low at 2.1%.
Small cap
Defensive
Key metrics
- Market cap
- ₹54 Cr
- Small cap
- P/E
- 81.3
- Industry 22.1
- Price to book
- 1.69
- Peers 13.33
- Dividend yield
- 0.00%
- ROE
- 2.1%
- Peers 23.0%
- ROCE
- 2.5%
- Peers 24.4%
- Debt to equity
- 0.02
- Debt ₹0.68 Cr
- EPS (TTM)
- ₹0.07
- OPM (TTM)
- −20.1%
- Net margin 2.4%
- Sales growth
- −56.8%
- Latest quarter vs a year ago
- Profit growth
- −63.7%
- Latest quarter vs a year ago
- Price to sales
- 1.67
- EV/EBITDA 14.4
Strengths and risks
Strengths
- Practically debt-free.
Risks to check
- Return on equity is low at 2.1%.
- Quarterly profit down 63.7% on a year ago.
- Quarterly sales down 56.8% on a year ago.
- Net profit is above operating profit, so a one-off gain is likely flattering earnings.
- P/E of 81.3 against an industry P/E of 22.1.
About Kkalpana Industries (India)
Kkalpana Industries (India) Limited manufactures and sells plastic compounds in India and internationally. It offers polyethylene, polyethylene terephthalate, polypropylene, polyvinyl chloride, and polystyrene. The company also provides reprocessed granules, scraps, and others compounds. It serves cable, piping, packaging, and footwear sectors. The company was incorporated in 1985 and is based in South 24 Parganas, India. Kkalpana Industries (India)…
- Headquarters
- South 24 Parganas
- Employees
- 41
- Sector
- Basic Materials
- ISIN
- INE301C01028
- Website
- kkalpanagroup.com
Price range
- Avg volume (3M)
- 29.7K
- 1-year return
- minus 45.8%
- From 52-week high
- minus 47.9%
Peers · Specialty Chemicals
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ASIANPAINTAsian Paints | 2,546.00 | plus 0.88% | 2,44,025 | 50.5 | 35.0 | 24.4% | 18.9% | 0.21 | 1.1% | plus 1.5% |
| SOLARINDSSolar Industries India | 18,608.00 | plus 0.48% | 1,68,384 | 74.4 | 64.1 | 29.5% | 27.8% | 0.22 | 12.4% | plus 35.9% |
| PIDILITINDPidilite Industries | 1,579.00 | plus 1.63% | 1,60,827 | 60.0 | 44.4 | 28.5% | 23.5% | 0.03 | 7.4% | plus 6.8% |
| LINDEINDIALinde India | 6,859.00 | plus 8.73% | 58,496 | 118.4 | 64.2 | 16.3% | 31.5% | 0.23 | – | plus 5.4% |
| BERGEPAINTBerger Paints India | 478.35 | minus 5.28% | 55,776 | 45.4 | 29.4 | 20.6% | 15.3% | 0.15 | 4.2% | minus 6.0% |
| FLUOROCHEMGujarat Fluorochemicals | 4,665.50 | minus 0.94% | 51,251 | 75.9 | 44.0 | 9.6% | 24.1% | 0.26 | −4.5% | plus 28.0% |
| ACUTAASAcutaas Chemicals | 3,786.60 | plus 0.42% | 31,001 | 70.9 | 64.1 | 27.7% | 39.4% | 0.01 | 29.4% | plus 105.6% |
| KKALPANAINDKkalpana Industries (India) | 5.69 | plus 1.43% | 54 | 81.3 | – | 2.5% | −20.1% | 0.02 | −48.4% | minus 45.8% |
| Median of 7 peers | – | 0.48% | 58,496 | 70.9 | 44.4 | 24.4% | 24.1% | 0.21 | 5.8% | 6.8% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 9.4 | 7.3 | 10.9 | 9.8 | 4.1 | |
| 11.4 | 12 | 10.3 | 11.2 | 4.9 | |
| −2 | −4.8 | 0.5 | −1.4 | −0.8 | |
| −20.9% | −65.6% | 5.0% | −14.1% | −20.3% | |
| 3.1 | 5.5 | 0.3 | 2.1 | 1.5 | |
| 0.4 | 0.1 | 0.1 | 0.1 | 0.1 | |
| 0.7 | 0.6 | 0.6 | 0.6 | 0.6 | |
| 0.1 | 0 | 0.2 | 0.1 | 0 | |
| 46.4% | 2429.6% | 91.4% | 72.4% | 21.7% | |
| 0.1 | 0.7 | 0 | 0 | 0 | |
| 0.01 | 0.07 | – | – | – |
Profit & loss
- Sales CAGR 3Y
- −48.4%
- Profit CAGR 3Y
- −25.2%
- EPS CAGR 3Y
- −26.3%
- ROE
- 2.1%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 272 | 62.1 | 40.5 | 37.4 | |
| – | minus 77.2% | minus 34.8% | minus 7.8% | |
| 276 | 71.3 | 46.1 | 44.4 | |
| −3.4 | −9.2 | −5.6 | −7.1 | |
| −1.2% | −14.8% | −13.9% | −19.0% | |
| 13.7 | 18.6 | 9.8 | 0.2 | |
| 5.5 | 5.1 | 3.2 | 0.6 | |
| 2.5 | 2.9 | 2.4 | 2.4 | |
| 0 | −0.8 | 2.2 | 10.3 | |
| 2.4 | 0.6 | 0.7 | 0.4 | |
| 21.0% | 63.2% | 0.8% | −91.4% | |
| 1.9 | 0.2 | 0.7 | 0.8 | |
| – | minus 88.5% | +214.0% | +15.5% | |
| 0.20 | 0.02 | 0.07 | 0.08 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 18.8 | 18.8 | 18.8 | 18.8 | |
| 16.9 | 17.1 | 17.8 | 18.6 | |
| 49.5 | 44.2 | 26.5 | 0.7 | |
| 11.8 | 5.8 | 9.3 | 24.5 | |
| 97 | 85.9 | 72.4 | 62.6 | |
| 34.2 | 30.1 | 27.1 | 25.1 | |
| 0.1 | 0.1 | 0 | 0.3 | |
| 0.6 | 1.5 | 0.5 | – | |
| 10.7 | 5.7 | 0.8 | 7.1 | |
| 51.4 | 48.5 | 43.9 | 30.2 | |
| 97 | 85.9 | 72.4 | 62.6 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −4.2 | 1.9 | 13.1 | 32.4 | |
| −6.1 | 3 | 4 | −0.2 | |
| 20.8 | −9.9 | −21.9 | −26.5 | |
| 10.5 | −5 | −4.8 | 5.7 | |
| −5.5 | −1.7 | −0.1 | −0.7 | |
| −9.6 | 0.2 | 13 | 31.7 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
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