KIOCL Ltd (KIOCL) AI Stock Analysis

• Market Cap: ₹191.53B
• Dividend Yield: N/A
• Average Volume (3M): 201.98K
• Price to Earnings (P/E): 336.5
• Beta (1Y): 1.69
• Revenue Growth: -39.14%
• EPS Growth: -12.75%
• Country: IN
• Employees: 603
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Steel
• EPS (TTM): 0.30
• Shares Outstanding: 607,751,100
• 10 Day Avg. Volume: 351,258
• 30 Day Avg. Volume: 201,980
• PEG Ratio: -0.51
• Price to Book (P/B): 8.87
• Price to Sales (P/S): 25.70
• P/FCF Ratio: 43.06
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: ₹307.00 ▼(-23.72% Downside)
• Action: Reiterated Date: 11/22/25
• Date: Action: Reiterated 11/22/25

KIOCL Ltd's overall stock score is primarily impacted by its weak financial performance and poor valuation metrics. The technical analysis further indicates bearish momentum, contributing to a low score. The absence of earnings call data and corporate events means these factors do not influence the score.

Positive Factors

Manageable leverage

A low leverage profile gives KIOCL durable financial flexibility through steel cycles, allowing funding of maintenance and targeted pellet plant needs without heavy refinancing. This reduces insolvency risk, preserves negotiating power with lenders, and supports long-term operational continuity.

Improved free cash flow

Recent improvement in free cash flow indicates better cash conversion and operational discipline, enabling the company to cover working capital and maintenance outlays internally. If sustained, stronger FCF reduces reliance on external financing and supports selective reinvestment in pellet capacity.

Strategic pellet supplier

KIOCL's core business of producing iron ore pellets for steelmakers is a structurally important, asset-heavy niche with steady industrial demand. Specialization in pellets and owned pelletization facilities create durable customer linkages and a defensible operating role in steel raw-material supply chains.

Negative Factors

Declining profitability

Persistent negative gross and net margins coupled with falling revenues point to weak pricing power or rising input costs. Continued losses erode retained earnings and limit capacity to invest in efficiency or modernization, making sustainable recovery dependent on structural fixes.

Shrinking asset base and equity

A decline in total assets and shareholders' equity suggests impairments, asset sales, or underinvestment. This reduces the capital cushion, limits borrowing capacity for plant upgrades, and weakens the company's ability to absorb future shocks or finance long-term competitiveness.

Inconsistent cash generation

Volatile operating cash flows and prior negative free cash flow create uncertainty about sustained cash generation. This variability constrains multi-year capex planning, increases dependency on external funding in weak periods, and elevates execution risk for structural improvements.

KIOCL Ltd Business Overview & Revenue Model

Company Description

KIOCL Limited engages in the iron ore mining, beneficiation, and production in India. The company operates through two segments, Pellet and Pig Iron. It produces and sells iron ore pellets and pig iron. The company also exports its products. The company was formerly known as Kudremukh Iron Ore Company Limited. KIOCL Limited was incorporated in 1976 and is headquartered in Bengaluru, India.

How the Company Makes Money

KIOCL makes money mainly by manufacturing and selling iron ore pellets (and related iron ore products, where applicable) to steel producers and other industrial customers. Revenue is largely driven by (1) sale of pellets under domestic and export orders, typically priced with reference to iron ore/pellet market benchmarks and adjusted for quality specifications (e.g., iron content, impurities) and contract terms; (2) logistics and delivery terms embedded in contracts (e.g., ex-works vs delivered), where realization depends on freight/port handling responsibilities; and (3) other operating income streams that can include service/ancillary receipts and disposal of by-products/scrap, if reported in the company’s financial statements. Earnings are influenced by global and domestic steel demand, iron ore and pellet price cycles, input costs (notably iron ore feedstock, power, fuel, and freight), plant utilization, and the company’s ability to secure reliable iron ore feedstock through sourcing arrangements. Specific material partnerships, customer concentration, or contract structures are null.

KIOCL Ltd Financial Statement Overview

Summary

KIOCL Ltd faces challenges with declining revenues and profitability, indicated by negative margins and revenue contraction. While the balance sheet shows low leverage, declining asset values and equity signal potential stability concerns. Cash flow improvements are promising but inconsistencies in past performance highlight risks in financial management.

Income Statement

The income statement shows deteriorating profitability with negative net and gross profit margins over recent years. There is a declining revenue trend, with significant drops in revenue growth from 2022 to 2025. EBIT and EBITDA margins are also negative, reflecting operational challenges and inefficiencies.

Balance Sheet

The balance sheet reflects a moderate financial position with a manageable debt-to-equity ratio, indicating low leverage. The equity ratio remains stable, suggesting a solid capital structure. However, there is a declining trend in total assets and stockholders' equity over recent periods, raising concerns about long-term sustainability.

Cash Flow

Cash flow statements highlight improved free cash flow in the latest period, indicating better cash management. However, inconsistencies in operating cash flow and negative free cash flow in previous years raise concerns about cash generation sustainability. The operating cash flow to net income ratio has improved, reflecting more efficient cash earnings.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	6.60B	5.91B	18.54B	15.43B	30.06B	23.61B
Gross Profit	1.33B	-1.94B	-519.02M	748.80M	6.19B	5.71B
EBITDA	-860.80M	-1.50B	-217.01M	-837.34M	4.53B	4.48B
Net Income	-1.40B	-2.05B	-833.05M	-976.70M	3.13B	3.01B
Balance Sheet
Total Assets	22.08B	22.88B	24.38B	29.38B	26.61B	24.82B
Cash, Cash Equivalents and Short-Term Investments	7.55B	6.00B	4.57B	8.06B	8.66B	14.22B
Total Debt	1.85B	1.93B	1.80B	5.37B	1.26B	1.20B
Total Liabilities	5.49B	5.77B	5.20B	9.36B	5.17B	4.96B
Stockholders Equity	16.59B	17.12B	19.19B	20.02B	21.44B	19.86B
Cash Flow
Free Cash Flow	-237.77M	3.52B	-51.83M	-7.33B	-2.21B	694.99M
Operating Cash Flow	-166.82M	3.80B	1.05B	-3.09B	699.16M	1.11B
Investing Cash Flow	-1.84B	-1.95B	-1.27B	1.29B	-1.32B	2.99B
Financing Cash Flow	-158.47M	-794.29M	-3.72B	3.37B	-1.65B	-2.45B

KIOCL Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 402.45
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KIOCL, the sentiment is Negative. The current price of 402.45 is above the 20-day moving average (MA) of 327.64, above the 50-day MA of 351.20, and above the 200-day MA of 368.81, indicating a bearish trend. The MACD of -13.75 indicates Positive momentum. The RSI at 32.05 is Neutral, neither overbought nor oversold. The STOCH value of 21.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:KIOCL.

KIOCL Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KANSAINER	75 Outperform	₹140.44B	39.21	―	1.11%	1.06%	83.53%
HINDCOPPER	73 Outperform	₹476.84B	80.20	―	0.33%	16.05%	41.18%
PARADEEP	67 Neutral	₹116.53B	23.48	―	0.62%	64.80%	151.92%
SHYAMMETL	66 Neutral	₹216.84B	29.89	―	0.77%	18.36%	13.94%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
SARDAEN	61 Neutral	₹184.05B	24.09	―	0.28%	46.66%	75.53%
KIOCL	45 Neutral	₹191.53B	336.52	―	―	-39.14%	-12.75%

KIOCL Ltd Corporate Events

KIOCL Files SEBI Dematerialisation Compliance Certificate for December Quarter

KIOCL Limited has submitted to the stock exchanges a compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 31 December 2025, issued by its registrar and share transfer agent, Integrated Registry Management Services. The registrar confirmed that all securities received for dematerialisation during the quarter were duly processed, either accepted or rejected, appropriately reflected with the depositories, listed on the relevant stock exchanges, and that the corresponding physical certificates were mutilated, cancelled, and the depositories recorded as registered owners within the prescribed 15-day timeline, underscoring the company’s adherence to regulatory requirements and safeguarding of shareholder records.