Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 3 Sep - Newspaper advertisement for the notice of 33rd Annual General Meeting of the Company.
Source: Bse
KRBL Limited (KRBL)
Micro CapFMCG stocks · Micro cap · NSE
Leading rice company with highest-ever total income in FY26 (INR 6,098 cr). Holds significant market share in packaged basmati rice in India (GT 36.9%, MT 38.7%) and exports to 90+ countries. Operates a large contact farming network and processing capacity in Punjab.
Data qualityFresh enough for analysisQuote updated 21 Oct, 10:32 am ISTDetails
Quote21 Oct, 10:32 am IST
Base fundamentals14 Oct 2026 · screener
Latest result13 Aug, 05:57 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags04 Oct 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · FMCG P/E 37.8 (n=42)
Technical timing lens
Trend score and candlestick chart
32BearishSMA20 -7.2% / mo · MACD − · sector -5.8pp vs Nifty 500 (3M)
Stock trend: 45
Sector RS: 13
Sector 3M: -10.8% vs Nifty 500 -5.0%
FMCG FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
KRBLD candles · FIT view-2.9%TODAY · PROVISIONALLatest price ₹363.35 on 2026-10-21
Today's candle is provisional from the latest intraday quote; completed-candle scans remain unchanged.
Bar
-3.6%
RSI
35
MACD hist
-1.63
52W pos
50%
2026-10-21O ₹377.00H ₹377.00L ₹360.80C ₹363.35Vol 2.2L shIntraday candle
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
KRBLNifty FMCGNifty 500
- KRBL
- +5.9%
- Nifty 500
- -5.6%
- Nifty FMCG
- -10.5%
- Vs Nifty 500
- +11.5 pp
Chart stats
19 Oct 2026- From 52W high
- -16.9%
- 52W range position
- 57%
- ATR (14)
- 3.8%
- Volume vs 20D
- 1.49x
- Avg traded value
- ₹14.2 Cr
- 20D price channel
- ₹366 - ₹411
₹452.8
₹274.7 - ₹452.8
₹14.4
Latest completed session
20-session average
34.2% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE57
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average40
Revenue -5.6% · PAT +72.8% YoY
Technical
Bearish32
Price trend and sector-relative-strength timing.
Valuation
Legacy model-12.1%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence82
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Average · 40/100Rev -6% YoY · PAT +73% YoY · margin expansion · operating leverage
Filed 13 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,496 Cr | -5.6% | -2.0% |
| EBITDA | ₹308 Cr | +59.6% | +34.5% |
| Operating margin | 21.0% | +900 bps | +600 bps |
| PAT | ₹261 Cr | +72.8% | +68.4% |
| PAT margin | 17.4% | +792 bps | +729 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 12.00
- P/B
- 1.56
- EV/EBITDA
- 8.52
- Market Cap
- 9078.00Cr
Profitability
- ROE
- 11.70%
- ROCE
- 15.20%
- ROA
- 11.49%
- Dividend Y
- 1.13%
Growth (CAGR)
- Revenue 5Y
- 9.00%
- EPS 5Y
- 3.00%
- Revenue 3Y
- 4.00%
- EPS 3Y
- -3.00%
Balance Sheet
- Debt/Equity
- 0.03
- Interest Coverage
- 124.00×
- Altman Z
- 8.95
- Book Value
- 254.00
Cash Flow
- FCF Yield
- 6.99%
- FCF Positive Y
- 10/5
- OCF
- 933.00 Cr
- EPS TTM
- 33.13
Shareholding
- Promoter Hold
- 60.17%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 69%
Financial History
Updated 18/10/2026
Revenue
₹ CrLatest: 1,496-2.0% vs prev
Net Profit
₹ CrLatest: 261+68.4% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 35.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~8.0% over last month) — short-term momentum negative.
- RSI(14) at 35 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 20% off 52W high · 32% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
65
RS percentile
Stage 2 UptrendEstablished S2
1M return
-4.1%
3M return
+5.9%
6M return
+0.0%
1Y return
-0.2%
RS 1D
-5
RS 20D
-4
Sector rank
#13
Industry rank
#7
Stage evidence
- Price is 2.2% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +2.5%.
50-DMA
price below
200-DMA
price above
S2 entered
24 Aug 2026
S2 age
39 trading sessions
Sector
weakening
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 111.89-3.53%
RS vs Nifty 500112
Valuation & peers
U-Score 57 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 57 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Financial Turnaround
Fundamental score breakdown
U band · FAIR VALUEValuation18/30
Growth6/25
Quality5/20
Balance Sheet14/15
Cash Flow9/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
57
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
57/100 · legacy band FAIR VALUE
Positive drivers
- FCF yield is supportive at 7.0%.
- Piotroski is strong at 8/9.
- Balance sheet contributes 14/15 to the score.
Main drags
- Fair-value margin of safety is negative at -12.1%.
- Growth is weaker at 6/25; verify the latest quarterly trend.
- Quality is weaker at 5/20; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
12.0
PB
1.6
EV/EBITDA
8.5
ROE
11.7%
ROCE
15.2%
FCF Yield
7.0%
Debt/Equity
0.0
MoS
-12.1%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
57
Previous: 57
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
-12.1%
Previous: -16.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
56
56
56
56
55
55
55
57
57
57
57
57
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹435.13
+16.5% MoS
Growth-justified P/E
9.8
Growth-justified Value
₹324.34
-12.1% MoS
PEG
4.00
Comparable companies
Peers
Business-comparable peers in FMCG — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
GRMOVER
Small
GRM Overseas Limited
Agro Processing
match 64
34
21.3
14.2%
+22%
WATCHLIST
GOKULAGRO
Micro
Gokul Agro Resources Limited
Agro Processing
match 61
77
15.0
30.0%
+67%
DEEP VALUE
GAEL
Micro
Gujarat Ambuja Exports Limited
Agro Processing
match 59
35
19.0
9.7%
-189%
WATCHLIST
GODREJAGRO
Micro
Godrej Agrovet Limited
Agro Processing
match 58
51
25.9
20.9%
-40%
FAIR VALUE
INDIAGLYCO
Micro
India Glycols Limited
Agro Processing
match 53
69
7.0
11.3%
+85%
UNDERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-10T07:09:43.782Z
Management commentary snapshot
KRBL reported highest-ever Total Income of INR 6,098 cr in FY26, up 9% YoY. Q4 FY26 revenue grew 6% YoY to INR 1,526 cr, driven by 22% YoY domestic growth, but exports declined 33% YoY due to lower Middle East sales. FY26 PAT grew 36% YoY to INR 648 cr.
KRBL demonstrated robust FY26 performance with record income and strong domestic growth, driven by volume and realization. Market leadership in packaged basmati is maintained across channels. However, Q4 export weakness, particularly to the Middle East, warrants monitoring. Gross margin decline in Q4 is also a concern.
Current business mix
Revenue by Segment (FY26)
Latest issuer-disclosed distribution across 3 reported categories.
Domestic72.9%
Exports25.5%
Power1.6%
Growth engines
Domestic Distribution Expansion
PositiveDemocratizing distribution with 3.4 Lakh retail outlets and reaching 1.2 Crore Indian households.
Supply Chain Remodelling
PositiveEstablishing direct distribution in underpenetrated towns, moving towards 'FOR' model, and building 16 C&Fs & 8 SS for wider supply.
Brand Investment
PositiveDriving brand narratives by leveraging cultural moments (Women's Day, New Year's, Eid) and strategic partnerships.
New Product & Category Foray
PositiveLaunching India Gate Classic Masala Meal mixes to extend the elevated experience promise.
Capacity and execution
Largest Rice Milling Plant
PositiveUnparalleled processing capacity with the Largest Rice Milling Plant in Punjab.
Tailwinds
Strong Brand & Pricing Power
PositiveKRBL enjoys significant premium, reflecting strong brand and superior product.
Robust Financial Position
PositiveSubstantial internal accruals and minimal debt reliance, with strong credit ratings (ICRA AA(Stable), A1+; CARE A1+).
India's Export Leadership
PositiveIndia is the #1 exporter of rice, holds 85% of basmati market exports and expects to further rise.
Global Demand for Basmati
PositiveGrowing US demand for PUSA basmati and increased demand from locals in Middle East due to quality standards.
Headwinds
Lower Exports to Middle East
NegativeQ4 FY26 exports were lower YoY due to lower sales to the Middle East region.
Q4 Gross Margin Contraction
NegativeGross margin decreased primarily due to higher COGS and lower other income in Q4 FY26.
Risk radar
General Market & Macro-economic Trends
NeutralRisks include general market, macro-economic, governmental and regulatory trends.
Currency & Interest Rate Movements
NeutralMovements in currency exchange and interest rates could cause actual developments to differ from expectations.
Competitive Pressures
NeutralCompetitive pressures are identified as a factor that could affect business and financial performance.
Legislative Developments
NeutralLegislative developments are among the key factors that could affect business and financial performance.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
Both YoY and QoQ comparisons are relevant. YoY provides a view of annual growth and overall business trends, especially for a consumer staple. QoQ is useful for assessing sequential momentum, particularly in domestic sales and the impact of export fluctuations.
Sector KPIs management disclosed
FY26 Total Income
PositiveINR 6,098 cr (highest-ever)
FY26 Domestic Revenue Growth
Positive10% YoY
Q4 FY26 Domestic Revenue Growth
Positive22% YoY, driven by 16% rice volume growth and 5% rice realization growth.
FY26 Export Revenue Growth
Positive6% YoY
Management forward view
Deepening Distribution
PositiveEstablishing direct distribution in non-covered/underpenetrated towns and driving servicing & cost efficiency in MT & E-COMM.
Strengthening GTM Practice
PositiveBuilding a robust & healthier Go-To-Market practice, safeguarding against infiltration, and stronger governance on GTM.
Export Strategy
PositiveFocus on existing markets, new products, channel deepening & diversification, and direct marketing to locals with Arabic TVC.
New Product Development
PositiveForaying into new products and categories, exemplified by the launch of India Gate Classic Masala Meal mixes.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Domestic Revenue Growth | 22% YoY in Q4 FY26 (16% volume, 5% realization) | Sustained volume and realization growth in domestic market, indicating continued premiumization and distribution success. |
| Export Performance | -33% YoY in Q4 FY26 (due to Middle East) | Recovery in export volumes and realization, especially to the Middle East, and success in new/seeded markets. |
| Gross Profit Margin | 29.6% in Q4 FY26 (down from 31.5% YoY) | Stabilization or improvement in gross margins, managing COGS and other income. |
| Net Bank Borrowings | INR (789) cr (net cash position) | Maintenance of low debt dependence and strong cash flow generation. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
82Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 94th percentile of the scored universe and 77th percentile within FMCG. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
126 docs text-extracted · 52 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
94th percentile
overall median 67 · FMCG: 77th pctile, median 79 · Micro: 90th pctile, median 73
Evidence depth
Financial-only
126 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
89
strong · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
60
acceptable · capital discipline
Results
75
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 60.2%.
- ▸Promoter pledge is zero.
- ▸FCF yield is 6.6%.
- ▸10 years of positive FCF.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching KRBL Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 20 Jul - Copy of Newspaper Publication - Intimation Regarding Transfer of Unpaid/Unclaimed Dividend and Equity Shares to IEPF.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.