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Kanchi Karpooram Ltd (538896)

📊 BSE: 538896 🏢 Commodity Chemicals 📢 Latest filing: 16 Oct 2026 📝 Analysis written: 13 Nov 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Kanchi Karpooram's revenue was ₹41.7 Cr (+16.4% year on year, +3.9% on the previous quarter), and net profit ₹4.7 Cr (+113.2% year on year); the operating margin was 15.3%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹41.7	+16.4%	+3.9%
Operating profit	₹6.4	+117.7%	+420.3%
Net profit	₹4.7	+113.2%	+557.7%
EPS (₹)	10.75	+113.3%	+559.5%
Operating margin	15.3%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

CRISIL Reaffirms Kanchi Karpooram's Credit Rating at 'Crisil BBB-/Stable'

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 16 Oct 2026, 05:23 PM

CRISIL Ratings has reaffirmed Kanchi Karpooram Ltd's corporate credit rating at 'Crisil BBB-/Stable'. The agency highlighted stagnant revenue over the past two fiscals and an EBITDA margin moderation to 5.3% in fiscal 2026, driven by elevated raw material prices. Liquidity remains supported by a debt-free balance sheet, free cash balances of around Rs 42 crore as of March 31, 2026, and low working capital limit utilization.

Corporate credit rating reaffirmed at 'Crisil BBB-/Stable'
Free cash and bank balances stood at around Rs 42 crore as of March 31, 2026
Average bank limit utilization was 20% on a Rs 25 crore working capital facility for the 12 months ended September 2026
Operating EBITDA margin moderated to 5.3% in fiscal 2026 amid elevated raw material costs
Top client contributed ~20% of FY26 revenue, while the top three clients accounted for ~30%

💡 Track operating margin stability and raw material (gum turpentine) price trends in upcoming quarterly earnings to see if EBITDA margins recover toward historical averages.

CRISIL Reaffirms Kanchi Karpooram's Credit Rating at 'BBB-/Stable'

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 15 Oct 2026, 10:18 AM

CRISIL Ratings has reaffirmed Kanchi Karpooram Ltd's corporate credit rating at 'Crisil BBB-/Stable'. The reaffirmation reflects the company's established position in the camphor industry and strong balance sheet with zero debt and Rs 42 crore in free cash balance as of March 31, 2026. However, business risks persist due to volatile raw material costs (imported gum turpentine) and Chinese import competition, which moderated EBITDA margins to 5.3% in FY26.

Corporate credit rating reaffirmed at 'Crisil BBB-/Stable'
Free cash and bank balances stood at around Rs 42 crore as of March 31, 2026
Average working capital facility utilisation was 20% of Rs 25 crore limit for the 12 months ended September 2026
Top customer accounted for ~20% of FY26 revenue, with the top three clients contributing ~30%
Annual net cash accrual expected at Rs 7-8 crore over the medium term against nil debt obligations

💡 Monitor upcoming quarterly margin trends and input cost pressures, particularly gum turpentine price swings and Chinese import pricing dynamics.

Kanchi Karpooram Approves All 6 Resolutions at 33rd AGM with Requisite Majority

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 24 Sep 2026, 08:15 PM

Kanchi Karpooram Limited submitted the Scrutinizer's report and voting results for its 33rd Annual General Meeting held on September 22, 2026. All 6 proposed resolutions set out in the notice dated August 12, 2026, were approved by shareholders with the requisite majority. A total of 53 shareholders attended the meeting via video conferencing, comprising 11 promoter group members and 42 public shareholders, out of 10,859 total shareholders on the record date of September 15, 2026.

All 6 resolutions passed with requisite majority at the 33rd AGM
Total shareholders on record date (15-09-2026): 10,859
Shareholder attendance at meeting: 53 total (11 promoter group, 42 public)
Meeting conducted on September 22, 2026, via video conferencing

💡 Track the upcoming Q2 FY27 financial results and monitor input cost trends for Gum Turpentine, which drive operating margins.

Kanchi Karpooram Issues FY26 Annual Report; Recommends ₹1/Share Dividend, AGM on Sept 22

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 28 Aug 2026, 08:56 PM

Kanchi Karpooram Limited has published its Annual Report for FY2025-26 and scheduled its 33rd Annual General Meeting (AGM) for September 22, 2026. The Board has recommended a final dividend of ₹1 per equity share (face value ₹10). For FY26, consolidated revenue from operations stood at ₹148.74 crore compared to ₹151.50 crore in FY25, with Camphor sales contributing ₹129.58 crore. Shareholders will also vote on the re-appointment and remuneration terms of Managing Director Suresh Veerchandji Shah for a five-year term starting October 1, 2026.

Board recommended a final dividend of Rs. 1/- per equity share for FY 2025-26
33rd Annual General Meeting scheduled for Tuesday, 22nd September 2026 via VC/OAVM
FY26 consolidated revenue from operations reported at Rs 14,873.64 Lakhs vs Rs 15,149.98 Lakhs in FY25
Core camphor sales grew to Rs 12,957.60 Lakhs in FY26 from Rs 11,141.74 Lakhs in FY25
Single largest customer accounted for Rs 2,930.34 Lakhs (~19.7%) of total sales in FY26

💡 Track voting outcomes at the AGM on September 22, 2026, and watch for margin trajectory in upcoming quarterly results amid raw material price fluctuations.

Rs 1.00 Final Dividend Recommended and MD Re-appointed for 5-Year Term

🟡 NEUTRAL ⭐ 5/10

BOARD_MEETING 📅 12 Aug 2026, 01:49 PM

Kanchi Karpooram Ltd has recommended a final dividend of Rs 1.00 per equity share (10% of face value) for FY26, with a record date set for September 15, 2026. The board also approved the re-appointment of Mr. Suresh Veerchandji Shah as Managing Director for a five-year term effective October 1, 2026. While Q1 FY27 results were approved, the specific financial figures were not detailed in the summary brief. The dividend represents a modest yield of approximately 0.27% based on the current market price of Rs 368.

Final dividend of Rs 1.00 per equity share (10% of face value) recommended for the financial year ended March 31, 2026.
Record date for dividend eligibility and AGM voting fixed as September 15, 2026.
Managing Director Suresh Veerchandji Shah re-appointed for a 5-year term starting October 1, 2026.
33rd Annual General Meeting (AGM) scheduled for September 22, 2026, via video conferencing.
Statutory auditors issued a Limited Review Report with an unmodified opinion on Q1 FY27 results.

💡 Investors should review the full Q1 FY27 financial statements to assess if operating margins are recovering from the TTM level of 5.4% amid volatile raw material costs.

Rs 1.00 Final Dividend and 5-Year MD Re-appointment Announced by Kanchi Karpooram

🟡 NEUTRAL ⭐ 5/10

DIVIDEND 📅 12 Aug 2026, 01:45 PM

Kanchi Karpooram has recommended a final dividend of Rs 1.00 per equity share (10% of face value) for the financial year ended March 31, 2026. The company has set September 15, 2026, as the record date for dividend eligibility. Additionally, the board approved the re-appointment of Mr. Suresh Veerchandji Shah as Managing Director for a five-year term starting October 1, 2026. While Q1 FY27 results were approved, the specific financial performance figures were not detailed in the summary cover letter.

Recommended a final dividend of Rs 1.00 per equity share of Rs 10 each for FY26.
Set the Record Date for dividend eligibility as September 15, 2026.
Re-appointed Mr. Suresh Veerchandji Shah as Managing Director for a 5-year term effective October 1, 2026.
Scheduled the 33rd Annual General Meeting (AGM) for September 22, 2026.
Confirmed an unmodified opinion from statutory auditors for the Q1 FY27 financial results.

💡 Investors should review the detailed Q1 FY27 financial statements to assess if operating margins are recovering from the TTM level of 5.4% and monitor the impact of raw material price volatility.

Board Meeting on Aug 12 to Consider Q1 Results and FY26 Dividend Recommendation

🟡 NEUTRAL ⭐ 4/10

BOARD_MEETING 📅 03 Aug 2026, 12:07 PM

Kanchi Karpooram Ltd has scheduled a board meeting for August 12, 2026, to approve unaudited financial results for the quarter ended June 30, 2026. The board will also consider recommending a dividend for the financial year ended March 31, 2026. This follows a fiscal year (FY26) where net profit declined to Rs 5.0 Cr from Rs 13.0 Cr in FY25. Investors will be monitoring for any recovery in operating margins, which stood at 5.4% for the trailing twelve months.

Board meeting scheduled for August 12, 2026, to review Q1 FY27 performance
Dividend recommendation for FY26 to be considered (FY26 EPS was Rs 11.89)
Trading window has been closed since July 1, 2026, for insider trading compliance
Company reported TTM revenue of Rs 149 Cr with a net profit of Rs 5 Cr

💡 Monitor the Q1 results on August 12 for signs of margin stabilization and the specific dividend amount relative to the reduced FY26 earnings.

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💰 Financial Performance

Revenue Growth by Segment

Standalone revenue from operations grew 18.75% YoY, increasing from INR 131.16 Cr in FY24 to INR 155.75 Cr in FY25. Segment-specific growth percentages are not disclosed in available documents.

Profitability Margins

Operating Profit Margin improved significantly from Nil in FY24 to 10.02% in FY25. Net Profit Margin increased from 1.14% to 9.41% over the same period, driven by higher sales volumes and operational efficiency.

EBITDA Margin

Operating Profit Margin stood at 10.02% in FY25, a substantial recovery from Nil in the previous year. Core profitability was bolstered by a 551% increase in PBT to INR 19.29 Cr.

Capital Expenditure

The company has no debt-funded capital expenditure plans over the medium term. It maintains a healthy financial risk profile with a networth of INR 212.77 Cr as of March 31, 2025.

Credit Rating & Borrowing

Credit rating reaffirmed at 'CRISIL BBB-/Stable' in November 2025. The company has nil debt (Adjusted debt/networth of 0.00) and recently availed a working capital facility of INR 25 Cr, utilized under 50%.

⚙️ Operational Drivers

Raw Materials

Gum Turpentine is the primary raw material, accounting for the majority of raw material costs.

Import Sources

Indonesia, Vietnam, Sri Lanka, and China.

Capacity Expansion

Industry-wide capacity expansion is occurring, leading to increased supply and intensified competition; however, KKL's specific current or planned MTPA is not disclosed.

Raw Material Costs

Foreign exchange utilized for raw material purchases was INR 95.26 Cr in FY25. Procurement is strategic, based on available financial resources and price risk management.

Manufacturing Efficiency

Fixed Assets Turnover Ratio was 2.24 in FY25 compared to 2.51 in FY24. Operational efficiency improved due to higher sales volumes.

📈 Strategic Growth

Growth Strategy

Growth will be achieved by focusing on high-quality manufacturing standards and regulatory compliance (ISO 9001:2015) to serve regulated sectors like pharmaceuticals and food-grade products. Internal efforts include streamlining operations and optimizing raw material sourcing.

Products & Services

Camphor and its by-products: Dipentene, Sodium Acetate Trihydrate, and Pine Tar.

Market Expansion

The company aims to broaden product segments to tap into new customer segments, particularly in regulated sectors.

Market Share & Ranking

KKL is one of the leading and larger players in the Indian camphor market.

🌍 External Factors

Industry Trends

The industry is seeing capacity expansions by multiple players, which is increasing supply and moderating realizations. Market conditions are currently considered favorable for larger players.

Competitive Landscape

Highly competitive environment with several domestic players and significant pressure from low-cost Chinese imports.

Competitive Moat

Durable advantages include four decades of promoter experience, established relationships with suppliers and customers, and a strong position in the Indian camphor market.