Kiri Industries Limited (KIRIINDUS) AI Stock Analysis

• Market Cap: ₹32.35B
• Dividend Yield: N/A
• Average Volume (3M): 17.83K
• Price to Earnings (P/E): 15.9
• Beta (1Y): 1.14
• Revenue Growth: -22.04%
• EPS Growth: -58.81%
• Country: IN
• Employees: 787
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals - Specialty
• EPS (TTM): 3.38
• Shares Outstanding: 60,022,552
• 10 Day Avg. Volume: 8,456
• 30 Day Avg. Volume: 17,829
• PEG Ratio: 0.26
• Price to Book (P/B): 1.17
• Price to Sales (P/S): 5.15
• P/FCF Ratio: -5.09
• 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: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 60 Neutral
• Price Target: ₹569.00 ▼(-2.38% Downside)

Kiri Industries' overall stock score is primarily impacted by its financial performance, which shows declining revenues and profitability. The technical analysis suggests a bearish trend, while the valuation indicates moderate pricing. The absence of earnings call data and corporate events means these factors do not influence the score.

Positive Factors

Strong Balance Sheet

A strong balance sheet with low leverage provides financial stability and flexibility, allowing the company to navigate economic challenges and invest in growth opportunities.

Sustainable Practices

Commitment to sustainability and innovation can enhance brand reputation, meet regulatory standards, and attract environmentally conscious clients, supporting long-term growth.

Global Market Presence

A diversified global market presence reduces dependency on any single market, spreading risk and capitalizing on growth opportunities in various regions.

Negative Factors

Declining Revenue

Significant revenue decline indicates potential loss of market share or demand, which could impact long-term profitability and competitive positioning.

Negative Cash Flow

Persistent negative cash flow suggests operational inefficiencies and reliance on external financing, which may hinder financial health and growth potential.

Operational Challenges

Negative EBIT and EBITDA margins highlight operational inefficiencies, which could undermine profitability and require strategic adjustments to improve performance.

Kiri Industries Limited Business Overview & Revenue Model

Company Description

Kiri Industries Limited manufactures and sells dyes, dye intermediates, and basic chemicals in India and internationally. The company provides reactive dyes, acid / metal complex dyes, and wool reactive dyes; and basic chemicals comprising sulphuric acid, chloro sulhponic acid, oleum, spent sulphuric acid, and thionyl chloride. It also offers dye intermediates, such as sulpho J.acid, sulpho tobias acid, sulpho gama acid, and para nitro toluene ortho sulfonic acid, as well as H-Acid, acetanilide, and other specialty intermediates. The company's products are used in various industrial sectors comprising textile, paper, apparel, hosiery, automotive, carpets, leather, home upholstery, industrial fabrics, etc. It was formerly known as Kiri Dyes and Chemicals Limited and changed its name to Kiri Industries Limited in March 2011. Kiri Industries Limited was incorporated in 1998 and is based in Ahmedabad, India.

How the Company Makes Money

Kiri Industries Limited generates revenue through the sale of its core products, which include reactive dyes and textile chemicals, to various industries, particularly the textile sector. The company's revenue model is largely based on B2B transactions, supplying large quantities of chemical products to manufacturers and exporters in the textile industry. Key revenue streams include direct sales, long-term contracts with industrial clients, and exports to global markets. Additionally, Kiri Industries has established significant partnerships with various textile manufacturers, enhancing its distribution network and increasing sales volume. The company also invests in research and development to innovate and expand its product offerings, which can lead to new revenue opportunities.

Kiri Industries Limited Financial Statement Overview

Summary

Kiri Industries faces significant challenges with declining revenues and profitability, as evidenced by negative operating margins and cash flows. The balance sheet remains strong with low leverage, providing some buffer. However, the company's ability to generate cash and achieve sustainable profitability remains a concern moving forward.

Income Statement

Kiri Industries has experienced a significant decline in revenue from 2022 to 2025, with a notable decrease in total revenue from 2022's peak of 14.73 billion to 7.40 billion in 2025. The gross profit margin has decreased over the years, impacting profitability. EBIT and EBITDA margins are negative in recent years, indicating operational challenges. The net profit margin is positive in 2025, but this is primarily due to non-operational factors, as EBIT remains negative.

Balance Sheet

The company's balance sheet shows a strong equity position with a high equity ratio, indicating good financial stability. The debt-to-equity ratio remains low, suggesting prudent financial management and low leverage risks. However, the decrease in total assets from 2022 to 2025 reflects a shrinking asset base, which may affect future growth potential.

Cash Flow

Free cash flow has been consistently negative, highlighting challenges in generating cash from operations. This is concerning given the negative operating cash flow in 2025, which indicates reliance on external financing to support operations. The free cash flow to net income ratio is unfavorable, suggesting inefficiencies in converting profits into cash.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	8.58B	7.40B	7.09B	9.45B	14.73B	9.42B
Gross Profit	2.55B	2.29B	-555.78M	2.55B	4.52B	3.34B
EBITDA	891.13M	609.45M	-34.76M	-341.41M	1.23B	848.33M
Net Income	1.83B	2.65B	1.33B	1.07B	3.89B	2.52B
Balance Sheet
Total Assets	0.00	47.25B	34.11B	32.01B	30.74B	27.00B
Cash, Cash Equivalents and Short-Term Investments	3.59B	3.83B	45.66M	982.41M	173.04M	92.24M
Total Debt	0.00	11.24B	1.26B	451.81M	958.62M	1.49B
Total Liabilities	-32.47B	14.79B	5.99B	5.22B	5.02B	5.16B
Stockholders Equity	32.47B	32.47B	28.12B	26.79B	25.73B	21.84B
Cash Flow
Free Cash Flow	0.00	-7.49B	-692.99M	669.55M	547.00M	-56.39M
Operating Cash Flow	0.00	-3.42B	-605.79M	891.76M	921.96M	722.06M
Investing Cash Flow	0.00	-8.42B	287.87M	-179.47M	-289.68M	-701.59M
Financing Cash Flow	0.00	11.94B	497.80M	-569.91M	-574.24M	-70.02M

Kiri Industries Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 582.85
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KIRIINDUS, the sentiment is Positive. The current price of 582.85 is above the 20-day moving average (MA) of 545.73, above the 50-day MA of 563.40, and above the 200-day MA of 579.73, indicating a bullish trend. The MACD of 4.31 indicates Negative momentum. The RSI at 57.08 is Neutral, neither overbought nor oversold. The STOCH value of 60.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:KIRIINDUS.

Kiri Industries Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MANINDS	74 Outperform	₹29.53B	15.86	―	―	10.26%	46.49%
VISHNU	73 Outperform	₹34.13B	26.26	―	0.06%	17.51%	33.29%
NOCIL	64 Neutral	₹30.21B	47.90	―	1.16%	-8.20%	-55.26%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
KIRIINDUS	60 Neutral	₹32.35B	15.86	―	―	-22.04%	-58.81%
MOL	45 Neutral	₹17.46B	44.02	―	―	―	―
TIRUMALCHM	41 Neutral	₹28.81B	―	―	0.42%	-11.11%	-340.74%

Kiri Industries Limited Corporate Events

Kiri Industries Secures SEBI Compliance Certification for Q3 2025

Kiri Industries Limited has announced the receipt of a certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ending September 30, 2025. This certification, issued by Cameo Corporate Services Limited, confirms that securities received for dematerialization during the quarter were processed appropriately and listed on the stock exchanges, ensuring compliance with regulatory requirements.