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Dossier · KEERTHI INDUSTRIES LTD. · 29 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
KEERTHI INDUSTRIES LTD.
BSE: 518011
BSE: 518011
Commodities › Construction Materials › Cement & Cement Products › Cement & Cement Products
KEERTHI INDUSTRIES LTD.
StateQ1 FY27 filed
Last close · 28 Oct 2026₹40.00
Market cap₹0.0k cr
TTM P/E · P/B · EV/EBITDA— · 1.25 · —
KEERTHI INDUSTRIES LTD. is a Cement & Cement Products company. The annual-report business brief for this company has not been generated yet; the numbers below are as filed.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 250 | 241 | 212 | 120 | 94 |
| EBITDA (ex other income) | 31 | (1) | (4) | (18) | (11) |
| margin % | 12.5 | (0.3) | (1.9) | (14.8) | (11.3) |
| Owners' profit | 16 | (7) | (16) | (23) | (15) |
| EPS, as reported (₹) | 19.55 | (9.21) | (19.57) | (28.54) | (19.07) |
| ROE % · ROCE % | 17.8 · 21.5 | (9.1) · (5.7) | (24.7) · (13.3) | (55.9) · (32.0) | (59.6) · (33.9) |
| Debt / equity (x) | 0.34 | 0.82 | 0.95 | 1.42 | 0.91 |
| Cash from operations | 9 | 6 | 16 | 5 | 1 |
| Capex | (13) | (35) | (7) | (3) | (5) |
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · KEERTHI INDUSTRIES LTD. · 29 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 29 | 31 | 23 | 35 | 22 | 16 | 25 | 19 |
| Profit before tax | (11) | (10) | (5) | (3) | (8) | (7) | (6) | (7) |
| Net profit | (5) | (9) | (4) | (2) | (5) | (6) | (2) | (7) |
| EPS (₹) | (5.64) | (10.96) | (5.10) | (2.98) | (6.78) | (7.11) | (2.19) | (8.91) |
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Cement | 69 | 82.2 |
| Discontinued operations | 10 | 12.1 |
| Electronics | 5 | 5.6 |
| Total, before eliminations | 84 | 100.0 |
Source: the filed segment block, four quarters summed.
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ULTRATECH CEMENT LIMITED | 3,29,452 | 38.5 | 4.08 | 20.1 | 10.1 | 10.2 | 14.6 | 20.8 |
| GRASIM INDUSTRIES LTD | 1,97,360 | 34.5 | 1.16 | 16.4 | 6.1 | 3.2 | 18.1 | 16.6 |
| AMBUJA CEMENTS LTD | 87,273 | 19.8 | 1.21 | 12.2 | 7.8 | 4.3 | — | 18.3 |
| SHREE CEMENT LIMITED | 83,056 | 51.0 | 3.56 | 15.9 | 7.5 | 9.4 | 9.2 | 23.8 |
| JK CEMENT LIMITED | 38,558 | 40.8 | 5.44 | 17.7 | 13.9 | 10.3 | 15.7 | 17.0 |
| DALMIA BHARAT LIMITED | 28,101 | 29.7 | 1.55 | 10.6 | 6.4 | 5.2 | 7.1 | 19.6 |
| ACC LIMITED | 21,387 | 11.2 | 1.04 | 6.2 | 10.4 | 9.9 | — | 8.4 |
| THE RAMCO CEMENTS LIMITED | 17,308 | 26.9 | 2.14 | 10.3 | 8.6 | 7.1 | 11.3 | 14.3 |
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 1.3 | 1.3 | 17 of 34 | 52% |
| ROCE | (43.6) | 3.7 | 35 of 37 | 6% |
| ROE | (59.6) | 7.2 | 33 of 34 | 3% |
| Debt / Equity | 0.9 | 0.4 | 26 of 33 | 22% |
| EBITDA margin | (24.2) | 13.1 | 36 of 37 | 3% |
| Revenue growth | (45.9) | 7.8 | 36 of 37 | 3% |
| Profit growth | (198.8) | (24.7) | 35 of 37 | 6% |
| Market cap | 32 | 1735 | 35 of 38 | 8% |
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · KEERTHI INDUSTRIES LTD. · 29 October 2026Page 3 of 3
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 5 Oct 2026 · Routine RTA certificate for Q2 FY27 under SEBI Regulation 74(5) | compliance | minimal | — | — |
| 1 Oct 2026 · No physical share transfer requests in September 2026 | compliance | minimal | — | — |
| 25 Sept 2026 · 43rd AGM: All 3 resolutions passed with about 99.99 percent votes in favour | board shareholder meetings | low | — | — |
| 22 Sept 2026 · Trading Window Closed Until Q2 FY27 Results Declaration | compliance | minimal | — | — |
| 3 Sept 2026 · Nil physical share transfer requests in August 2026 | compliance | minimal | — | — |
| 2 Sept 2026 · Notice of 43rd AGM published in newspapers; meeting on 24 Sept 2026 | compliance | minimal | — | — |
| 1 Sept 2026 · Annual Report FY2025-26 filed; Electronics Division divested, no institutional debt | general | low | — | — |
| 1 Sept 2026 · Notice of 43rd Annual General Meeting on 24 September 2026 | board shareholder meetings | low | — | — |
| 14 Aug 2026 · Loss widens and operations stay suspended amid going concern risk | results | high | — | — |
| 14 Aug 2026 · Board approves Q1 FY27 results; operations suspended, going concern flagged | results | high | — | — |
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in