Kohinoor Foods Limited. (KOHINOOR) AI Stock Analysis

• Market Cap: ₹845.60M
• Dividend Yield: N/A
• Average Volume (3M): 4.47K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.97
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: IN
• Employees: 95
• Sector: Consumer Goods
• Sector Strength: N/A
• Industry: Packaged Foods
• EPS (TTM): -1.14
• Shares Outstanding: 37,071,530
• 10 Day Avg. Volume: 3,734
• 30 Day Avg. Volume: 4,466
• PEG Ratio: >-0.01
• Price to Book (P/B): -0.73
• Price to Sales (P/S): 1.38
• P/FCF Ratio: 0.00
• 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: 51 Neutral
• Price Target: ₹22.50 ▼(-31.69% Downside)
• Action: N/A Date: 01/04/26
• Date: Action: N/A 01/04/26

The score is held back primarily by weak financial strength (persistent negative equity and uneven core profitability despite improved cash flow and deleveraging) and bearish technicals (price below key moving averages with negative MACD). The main offset is valuation, with an extremely low P/E indicating the stock screens cheaply on earnings.

Positive Factors

Improved Cash Generation

Material improvement in operating cash flow in FY2025 demonstrates the business can convert earnings into cash. Strong cash generation enhances ability to service debt, fund working capital and capital expenditures, and provides durable liquidity support for operations and strategic initiatives over coming months.

Meaningful Deleveraging

Significant reduction in gross debt over recent years lowers interest burden and improves financial flexibility. Sustained deleveraging reduces default and refinancing risk and strengthens the company's ability to invest in the core business or withstand demand shocks over the medium term.

Established Branded Platform

A recognized consumer brand and presence across domestic and export channels support pricing power, shelf presence and distribution resilience. This branded packaged-food model creates repeat demand and durable customer relationships, aiding revenue stability and market access over several months.

Negative Factors

Negative Shareholders' Equity

Persistent negative equity signals a structurally weak capital base, constraining access to debt and equity markets and limiting strategic flexibility. It raises solvency concerns and makes the company more vulnerable to earnings or cash-flow shocks over the medium term.

Earnings Quality Concerns

Profitability driven by non-operating items rather than core operations undermines predictability of cash flows and sustainable margins. If one-off gains reverse, core operating weakness could re-emerge, limiting durable earnings visibility and complicating planning and credit assessments.

Revenue Volatility & Inconsistent Profitability

Marked top-line swings and a history of losses reflect unstable demand or execution issues. This variability hampers margin sustainability and makes investment planning and scale economies less reliable, increasing operational and strategic risk over the next several months.

Kohinoor Foods Limited. Business Overview & Revenue Model

Company Description

Kohinoor Foods Limited, together with its subsidiaries, manufactures and sells food products under the Kohinoor and Monsoon brand names in India. It offers basmati rice and non-basmati rice; packaged food products, such as ready to eat food, ready to cook, frozen ready to eat food, dairy products, namkeen savories, ghee, paneer, sweets, biscuits and cookies, and dry fruits, as well as olive, rice brain, and canola oil products; cooking pastes, chutneys, spices, seasonings, frozen breads, snacks, and simmer sauces; organic lentils and beans; and healthy grains. It also exports its products to approximately 60 countries. The company was formerly known as Satnam Overseas Limited and changed its name to Kohinoor Foods Limited in 1989. Kohinoor Foods Limited was founded in 1976 and is based in Faridabad, India.

How the Company Makes Money

Kohinoor Foods Limited makes money primarily by selling branded basmati rice and related rice/food products through wholesale and retail distribution. Its core revenue stream comes from product sales (e.g., packaged/branded rice) where earnings are driven by sales volumes, pricing/brand premium, and distribution reach across India and overseas markets. Additional revenue diversification beyond these product sales (such as specific non-rice categories, services, licensing, or named strategic partnerships) is null because such details are not available here.

Kohinoor Foods Limited. Financial Statement Overview

Summary

Cash flow improved materially in FY2025 with strong operating cash flow and prior years showing positive free cash flow, and debt has been reduced. However, the balance sheet remains a major concern with persistently negative shareholders’ equity, and earnings quality is questionable given FY2025 negative EBIT alongside very strong net income, implying reliance on non-operating items.

Income Statement

Revenue has been volatile, with a sharp drop in FY2021 and another decline in FY2025 (-5.0%). Profitability is inconsistent: the company posted net losses in several years (FY2020–FY2024), followed by a very large swing to reported net profit in FY2025. However, operating performance is less convincing given FY2025 shows negative EBIT while net income is strongly positive, suggesting earnings are being driven by non-operating items rather than core operations. Gross profit has improved vs earlier years, but the overall earnings track record remains unstable.

Balance Sheet

The balance sheet is weak, highlighted by consistently negative shareholders’ equity across all reported years, which raises financial risk and limits flexibility. Debt remains sizable (FY2025 total debt ~2.77B, down materially from ~7.0–7.9B in FY2020–FY2024), which is a clear positive deleveraging signal. Still, negative equity means leverage remains structurally high and the capital base is strained, making the company more vulnerable to earnings or cash-flow shocks.

Cash Flow

Cash generation improved meaningfully in the most recent period: FY2025 operating cash flow is very strong (~4.22B) and covers reported net income by ~1.42x, indicating cash conversion is healthy in that year. Prior years were mixed—FY2020 and FY2021 had negative operating cash flow, while FY2022–FY2024 turned positive with positive free cash flow. A key weakness is FY2025 free cash flow reported at zero, implying heavy reinvestment or working-capital/investing outflows that reduced cash available after spending.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Jun 2021
Income Statement
Total Revenue	1.04B	863.90M	950.97M	820.99M	985.65M	2.66B
Gross Profit	390.60M	385.50M	200.99M	167.23M	62.67M	653.72M
EBITDA	3.87B	3.93B	151.37M	198.45M	28.80M	396.04M
Net Income	3.65B	3.65B	-45.51M	-41.40M	-63.19M	242.30M
Balance Sheet
Total Assets	2.17B	2.09B	2.26B	2.13B	2.15B	3.56B
Cash, Cash Equivalents and Short-Term Investments	17.10M	12.20M	4.50M	17.96M	15.46M	16.03M
Total Debt	1.54B	2.77B	7.01B	7.07B	7.10B	7.94B
Total Liabilities	3.83B	3.73B	7.48B	7.31B	7.29B	8.65B
Stockholders Equity	-1.67B	-1.64B	-5.22B	-5.17B	-5.13B	-5.09B
Cash Flow
Free Cash Flow	1.23B	0.00	228.44M	207.44M	790.75M	-21.19M
Operating Cash Flow	1.23B	4.22B	281.83M	215.04M	790.75M	-16.25M
Investing Cash Flow	14.80M	18.89M	-48.17M	-1.24M	46.09M	-153.00K
Financing Cash Flow	-1.24B	-4.24B	-247.08M	-210.16M	-837.82M	-11.31M

Kohinoor Foods Limited. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	57 Neutral	$3.13B	9.23	-34.32%	3.14%	-25.56%	-353.61%
GOKUL	54 Neutral	₹4.24B	18.03	―	―	22.45%	26.18%
KOTHARIPRO	54 Neutral	₹3.86B	11.19	―	―	-3.96%	―
KOHINOOR	51 Neutral	₹845.60M	-5.81	―	―	―	―
ANIKINDS	46 Neutral	₹1.09B	50.01	―	―	86.09%	―
SAKUMA	46 Neutral	₹2.29B	137.71	―	0.46%	-22.06%	-79.52%
ROML	44 Neutral	₹1.33B	15.57	―	―	16.20%	267.95%