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Kalyani Investment Company Limited (KICL)

₹4,961.10 +3.57% last close, 16 Oct

📊 NSE: KICL 🏢 Finance & Investments 📢 Latest filing: 12 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Kalyani Investment's revenue was ₹5.9 Cr (-0.9% year on year, -73.0% on the previous quarter), and net profit ₹0.7 Cr (against a loss a year earlier); the operating margin was 55.7%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹5.9	-0.9%	-73.0%
Operating profit	₹3.3	from loss	-82.6%
Net profit	₹0.7	from loss	-96.4%
EPS (₹)	1.57	from loss	-96.5%
Operating margin	55.7%	—	—

Full quarterly financials → Results calendar →

KICL delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 67.15% of the KICL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 67.47%. That is close to its usual level. It traded 2.0 times its average daily volume.

67.15%Delivery, 16 Oct

67.47%Own 20-session average

2.0×Volume vs its average

₹4,961.10NSE close · +3.57%

Delivery in the last 5 sessions: 70.6% · 83.4% · 66.2% · 45.6% · 67.2%

Delivery across the market →Unusual volume today →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Kalyani Investment Submits Regulation 74(5) Demat Compliance Certificate for Q2 FY27

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 12 Oct 2026, 10:28 AM

Kalyani Investment Company Limited has submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate issued by Registrar & Transfer Agent MUFG Intime India Private Limited confirms that all dematerialisation requests received between July 1, 2026, and September 30, 2026, were processed within prescribed timelines. The security certificates received were verified, mutilated, cancelled, and substituted in the register of members accordingly. This filing represents a standard quarterly regulatory submission with no impact on business fundamentals.

Covers the quarterly period from July 1, 2026 to September 30, 2026
Issued under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
Compliance confirmed by RTA MUFG Intime India Private Limited (formerly Link Intime India)
Filing dated and submitted on October 12, 2026

💡 Track the upcoming board meeting announcements and Q2 financial results for fundamental updates, as this demat certificate requires no operational action.

KICL Shareholders Approve Re-appointment of Director Deeksha A. Kalyani at 17th AGM

🟡 NEUTRAL ⭐ 2/10

MANAGEMENT 📅 17 Sep 2026, 05:26 PM

Kalyani Investment Company Limited (KICL) announced that shareholders at its 17th Annual General Meeting on September 17, 2026, approved the re-appointment of Mrs. Deeksha A. Kalyani as a Director liable to retire by rotation. She is the spouse of Mr. Amit B. Kalyani, the Chairman of the company. The re-appointment was passed by ordinary resolution and takes effect from September 17, 2026. This is a standard corporate governance procedure involving no capital outlay or operational change.

Shareholders approved the re-appointment at the 17th AGM held on September 17, 2026
Mrs. Deeksha A. Kalyani re-appointed as Director liable to retire by rotation with effect from September 17, 2026
Mrs. Kalyani is the spouse of Mr. Amit B. Kalyani, Chairman of the Company

💡 Track subsequent AGM voting results and quarterly financial performance to evaluate holding company dividend flows and asset values.

Kalyani Investment Concludes 17th AGM; Transacts FY26 Accounts and Dividend Resolutions

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 17 Sep 2026, 05:13 PM

Kalyani Investment Company Limited (KICL) conducted its 17th Annual General Meeting (AGM) on September 17, 2026, via video conferencing. The meeting covered three ordinary business items: adoption of FY26 audited standalone and consolidated financial statements, declaration of dividend for FY26, and the re-appointment of retiring director Mrs. Deeksha A. Kalyani. The meeting concluded at 11:43 AM following a 15-minute e-voting window, with the scrutinizer's voting report submitted to the stock exchanges.

17th Annual General Meeting held virtually on September 17, 2026, starting at 11:00 AM
3 ordinary business resolutions transacted, including dividend declaration and adoption of FY26 financials
e-Voting window remained open for 15 minutes post conclusion of the meeting at 11:43 AM
Mr. R.K. Goyal chaired the meeting in the absence of Chairman Mr. Amit B. Kalyani

💡 Monitor the formal disclosure of final voting results and scrutinizer report for dividend payout confirmation and record dates.

Kalyani Investment Company Concludes 17th AGM; Transacts FY26 Financials and Dividend

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 17 Sep 2026, 05:09 PM

Kalyani Investment Company Limited held its 17th Annual General Meeting (AGM) on September 17, 2026, through video conferencing. The meeting covered three ordinary business items: adoption of FY26 standalone and consolidated financial statements, declaration of dividend for FY26, and the reappointment of retiring director Mrs. Deeksha A. Kalyani. The meeting was chaired by Director Mr. R.K. Goyal in the absence of Chairman Mr. Amit B. Kalyani, who was traveling abroad. Voting results via scrutinizer SVD & Associates will be declared separately.

17th AGM held on September 17, 2026, from 11:00 AM to 11:43 AM IST
Three ordinary resolutions presented, including dividend declaration for FY26
Adoption of FY26 Audited Standalone and Consolidated Financial Statements transacted
Director Mrs. Deeksha A. Kalyani proposed for reappointment upon retirement by rotation

💡 Watch for the formal voting results and scrutinizer's report to be filed with the exchanges confirming the final approval of the FY26 dividend and resolutions.

KICL Company Secretary & Compliance Officer Nihal Gupta Resigns Effective Sept 18, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 03 Sep 2026, 05:46 PM

Kalyani Investment Company Limited has announced the resignation of Mr. Nihal Gupta from the position of Company Secretary and Compliance Officer, citing personal reasons. He tendered his resignation on September 3, 2026, and will be relieved from his duties after the close of business hours on September 18, 2026. Mr. Gupta confirmed there are no other material reasons for his departure. This is a routine compliance personnel transition and carries no direct financial or operational impact on the holding company.

Resignation tendered on September 3, 2026, due to personal reasons
Effective cessation date set for September 18, 2026, after business hours
Confirmation provided that no other material reasons exist for the resignation

💡 Track subsequent filings for the appointment of a new Company Secretary and Compliance Officer to ensure compliance with SEBI listing mandates.

Kalyani Investment Convenes 17th AGM on Sept 17, 2026; Dividend Record Date Set for Aug 14

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 20 Aug 2026, 01:20 PM

Kalyani Investment Company Limited has issued the notice for its 17th Annual General Meeting (AGM) scheduled for Thursday, September 17, 2026, via video conferencing. The key ordinary business items include the adoption of FY26 financial statements, declaration of equity dividend, and the reappointment of Mrs. Deeksha A. Kalyani as Director. The record date for dividend eligibility is August 14, 2026, with payouts scheduled on or before September 25, 2026. Remote e-voting will be available from September 14 to September 16, 2026, with a cut-off date of September 10, 2026.

17th AGM scheduled for September 17, 2026, at 11.00 a.m. (I.S.T.) via VC/OAVM
Record date for dividend entitlement fixed as Friday, August 14, 2026
Dividend payment date scheduled on or before Friday, September 25, 2026
Remote e-voting window runs from September 14, 2026 (9.00 a.m.) to September 16, 2026 (5.00 p.m.) with cut-off date of September 10, 2026

💡 Eligible shareholders should verify their tax exemption/declaration forms submitted before dividend disbursement and participate in remote e-voting by September 16, 2026.

KICL Q1 Results: Consolidated PAT at ₹0.68 Cr; Fair Value Gains Surge to ₹2,684 Cr

🟡 NEUTRAL ⭐ 5/10

EARNINGS 📅 13 Aug 2026, 12:31 PM

KICL reported a standalone PAT of ₹2.42 crore for Q1 FY27, up 16.6% from ₹2.08 crore in the year-ago period. On a consolidated basis, the company turned profitable with a PAT of ₹0.68 crore compared to a loss of ₹3.18 crore YoY, despite a ₹2.32 crore loss contribution from its associate, Hikal Ltd. The most significant figure is the Other Comprehensive Income (OCI) of ₹2,684.24 crore (net of tax), reflecting massive fair value appreciation of its Kalyani Group holdings during the quarter. Total income remained flat at ₹5.95 crore as dividend income was nil for the quarter, which is typical for this period.

Standalone PAT increased to ₹2.42 crore from ₹2.08 crore in Q1 FY26.
Consolidated PAT turned positive at ₹0.68 crore vs a loss of ₹3.18 crore YoY.
Fair value gains on FVTOCI investments (net of tax) reached ₹2,684.24 crore for the quarter.
Share of loss from associate Hikal Limited stood at ₹2.32 crore.
Interest income on fixed deposits contributed ₹5.13 crore to the total standalone income of ₹5.95 crore.

💡 Investors should monitor the dividend declaration cycles of major Kalyani Group companies (like Bharat Forge), as KICL's cash flow is entirely dependent on these payouts. Additionally, watch for updates regarding environmental litigation at associate Hikal Ltd, which continues to impact consolidated results.

Rs 10 Dividend: KICL Sets August 14 as Record Date and Outlines TDS Procedures

🟡 NEUTRAL ⭐ 5/10

DIVIDEND 📅 06 Aug 2026, 02:41 PM

Kalyani Investment Company Limited (KICL) has finalized the timeline for its FY 2025-26 dividend of Rs 10 per share (100% of face value). The record date for determining eligibility and the deadline for submitting tax-related documents is August 14, 2026. The total estimated dividend payout is approximately Rs 4.39 crore, representing about 11.8% of the company's TTM PAT of Rs 37 crore. Shareholders are advised to update PAN and bank details to ensure correct TDS application (10% with PAN vs 20% without).

Dividend of Rs 10 per equity share (100% of face value) recommended for FY 2025-26.
Record date for dividend eligibility and tax document submission is August 14, 2026.
17th Annual General Meeting (AGM) scheduled for September 17, 2026.
Dividend payout date set for September 25, 2026, subject to shareholder approval.
TDS of 10% for resident individuals with valid PAN; 20% for those without a valid/linked PAN.

💡 Shareholders should verify that their PAN and bank account details are correctly updated with their Depository Participant or the RTA by August 14, 2026, to ensure electronic credit and appropriate tax withholding.

Rs 10 Dividend: KICL Sets August 14, 2026, as Record Date

🟡 NEUTRAL ⭐ 5/10

DIVIDEND 📅 03 Aug 2026, 02:37 PM

Kalyani Investment Company Limited (KICL) has announced a final dividend of Rs 10 per equity share (100% of face value) for the financial year. The company has fixed August 14, 2026, as the record date to determine shareholder eligibility. At the current market price of Rs 5599.5, this represents a modest dividend yield of approximately 0.18%. The total estimated payout of ~Rs 4.39 crore is well-covered by the TTM PAT of Rs 37 crore.

Dividend declared at Rs 10 per equity share of Rs 10 face value (100%)
Record date for dividend eligibility is Friday, August 14, 2026
17th Annual General Meeting (AGM) scheduled for Thursday, September 17, 2026
Dividend payment to be completed on or before Friday, September 25, 2026
Estimated total payout of ~Rs 4.39 crore represents ~11.8% of TTM PAT

💡 Investors interested in the dividend must hold the shares in their demat account by the record date of August 14, 2026; note that the stock will trade ex-dividend typically one business day prior.

17th Annual General Meeting Scheduled for September 17, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 03 Aug 2026, 02:11 PM

Kalyani Investment Company Limited (KICL) has scheduled its 17th Annual General Meeting (AGM) for September 17, 2026, at 11:00 a.m. IST. The meeting will be conducted via Video Conferencing (VC) or Other Audio Video Means (OAVM). The company will distribute the Annual Report for FY 2025-26 electronically to registered shareholders. This is a standard procedural announcement required under SEBI listing regulations.

17th Annual General Meeting to be held on September 17, 2026
Meeting scheduled for 11:00 a.m. IST via Video Conferencing
Annual Report for FY 2025-26 to be released electronically in due course
Company maintains a significant net worth of ₹11,195 cr as of latest filings
Promoter holding remains stable at 74.98% as of March 2026

💡 Investors should monitor for the release of the full Annual Report 2025-26 to review the updated valuation of the Kalyani Group investment portfolio and any dividend declarations.

KICL Submits Quarterly Compliance Certificate for Dematerialization (June 2026)

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Jul 2026, 02:44 PM

Kalyani Investment Company Limited (KICL) has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The filing confirms that all dematerialization requests received during the quarter ended June 30, 2026, were processed within the stipulated time limits. The company's Registrar and Transfer Agent (RTA), MUFG Intime India Private Limited, verified that security certificates were mutilated and cancelled as per regulations. This is a standard administrative filing with no impact on the company's financial performance or strategic direction.

Compliance certificate covers the quarter from April 1, 2026, to June 30, 2026
Confirmation received from RTA MUFG Intime India Private Limited dated July 6, 2026
Verification that security certificates were mutilated and cancelled after dematerialization
Confirmation that the name of depositories has been substituted in the register of members

💡 This is a routine regulatory filing. Investors should focus on the company's upcoming quarterly earnings and the performance of its underlying Kalyani Group investments.

KICL to Close Trading Window from July 1, 2026, Ahead of Q1 Financial Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Jun 2026, 03:33 PM

Kalyani Investment Company Limited (KICL) has notified the exchanges regarding the closure of its trading window effective July 1, 2026. This closure is mandatory under SEBI (Prohibition of Insider Trading) Regulations for the quarter ending June 30, 2026. The restriction applies to all designated persons and their immediate relatives until 48 hours post the declaration of unaudited financial results. This is a standard compliance measure and does not indicate any material change in business operations.

Trading window closure starts on July 1, 2026, for the quarter ended June 30, 2026.
Covers both Standalone and Consolidated Unaudited Financial Results.
Window reopens 48 hours after the results are publicly disclosed to the stock exchanges.
Applies to all Designated Persons, Connected Persons, and their immediate relatives.

💡 No action is required as this is a routine regulatory filing; investors should monitor for the actual earnings release date.

B.N. Kalyani Declares Nil Encumbrance on 74.97% Promoter Stake in Kalyani Investment Co.

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 02 Jun 2026, 09:34 AM

B.N. Kalyani, the promoter of Kalyani Investment Company Limited (KICL), has submitted a formal declaration under SEBI Takeover Regulations for the financial year ending March 31, 2026. The disclosure confirms that the entire promoter and promoter group holding of 3,272,851 equity shares, representing 74.97% of the company's capital, remained free of any encumbrance or pledges. Major entities within the group include Sundaram Trading & Investment (60.94%) and Ajinkya Investment & Trading (13.65%). This routine annual filing provides transparency regarding the financial health and commitment of the promoters.

Promoter and Promoter Group hold a total of 3,272,851 equity shares, representing a 74.97% stake.
Declaration confirms zero shares were encumbered, directly or indirectly, during the 2025-26 financial year.
Sundaram Trading & Investment Private Limited is the largest shareholder in the group with 2,660,074 shares (60.94%).
Ajinkya Investment & Trading Company holds the second-largest promoter stake at 595,998 shares (13.65%).
The disclosure was made in compliance with Regulation 31(4) of the SEBI (SAST) Regulations, 2011.

💡 Investors should note the lack of promoter share pledging as a sign of financial stability. No immediate action is required as this is a standard annual regulatory compliance filing.

KICL Recommends ₹10 Dividend; FY26 Standalone PAT at ₹511.17 Million

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 29 May 2026, 10:55 AM

Kalyani Investment Company Limited (KICL) has recommended a dividend of ₹10 per equity share (100%) for FY 2025-26. The company reported a standalone Profit After Tax (PAT) of ₹511.17 million for the full year, slightly down from ₹537.08 million in the previous fiscal. However, the company's total comprehensive income surged to ₹26,903.86 million, driven by a massive ₹30.93 billion gain in the fair value of its equity investments. The total value of financial investments held by the company has grown to ₹118,620.22 million.

Recommended a dividend of ₹10 per equity share (100% of face value) for FY 2025-26.
Standalone Net Profit for FY26 stood at ₹511.17 million with an EPS of ₹117.10.
Total Comprehensive Income reached ₹26,903.86 million due to significant fair value gains on investments.
The value of financial assets/investments increased to ₹118,620.22 million from ₹87,816.58 million year-on-year.
Dividend income remains the primary revenue driver, contributing ₹603.05 million for the full year.

💡 Investors should focus on the substantial growth in the company's investment portfolio value and the steady dividend payout. The stock continues to serve as a holding company play for the Kalyani Group.

KICL FY26 PAT at ₹511.17 Million; Recommends ₹10 Dividend per Share

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 29 May 2026, 10:55 AM

Kalyani Investment Company Limited (KICL) reported a standalone Profit After Tax (PAT) of ₹511.17 Million for the financial year ended March 31, 2026, compared to ₹537.08 Million in the previous year. The Board has recommended a dividend of ₹10 per equity share (100% of face value). While operational revenue saw a marginal decline to ₹819.20 Million, the company's Total Comprehensive Income surged to ₹26,903.86 Million, primarily driven by a massive ₹30,925.92 Million gain in the fair value of its equity investments. The company continues to operate as a core investment vehicle for the group, with its primary income derived from dividends and interest.

Recommended a dividend of ₹10 per equity share (100%) for the financial year 2025-26.
Standalone Profit After Tax for FY26 stood at ₹511.17 Million, down 4.8% from ₹537.08 Million in FY25.
Total Comprehensive Income for FY26 reached ₹26,903.86 Million, reflecting significant appreciation in the market value of group company holdings.
Standalone Revenue from operations for the year was ₹819.20 Million versus ₹828.60 Million in the previous year.
The fair value of standalone investments as of March 31, 2026, increased to ₹1,18,620.22 Million from ₹87,816.58 Million a year ago.

💡 Investors should value KICL based on its Net Asset Value (NAV) given the massive fair value gains in its investment portfolio, rather than just operational PAT. The steady ₹10 dividend remains a positive for long-term shareholders.

View All KICL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

KICL operates in a single segment: Investments. Total income for FY25 was INR 782.20 Million, a 17.08% increase from INR 668.06 Million in FY24. Dividend income grew 11.85% to INR 597.59 Million, while interest on fixed deposits rose 47.98% to INR 159.73 Million.

Geographic Revenue Split

100% of revenue is derived from India-based operations and investments in Kalyani Group companies.

Profitability Margins

Consolidated PBT for H1 FY26 was INR 230.28 Million, a 59.51% decrease from INR 568.77 Million in H1 FY25. Standalone PBT for H1 FY26 was INR 440.91 Million, down 14.98% from INR 518.59 Million. FY25 Consolidated PBT margin was 124.6% of total income (INR 974.96 Million PBT on INR 782.20 Million Revenue) due to associate profit sharing.

EBITDA Margin

Not applicable for an investment holding company; however, FY25 Consolidated PBT grew 6.83% YoY to INR 974.96 Million.

Capital Expenditure

Minimal capital expenditure; depreciation and amortization was INR 0.87 Million in FY25, consistent with INR 0.98 Million in FY24.

Credit Rating & Borrowing

Not disclosed in available documents; however, the company maintains a strong cash position with interest income of INR 159.73 Million in FY25.

⚙️ Operational Drivers

Operational analysis data not yet available for this company.

📈 Strategic Growth

Growth Strategy

KICL aims to achieve growth by maximizing dividend yields and capital appreciation from its strategic stakes in Kalyani Group companies. The strategy involves long-term holding of industrial assets to benefit from the group's manufacturing expansion and market leadership in sectors like automotive and chemicals.

Products & Services

Investment holding and management services, primarily focused on Kalyani Group companies.

Brand Portfolio

Kalyani Investment Company Limited, Kalyani Group.

Strategic Alliances

Associate relationship with Hikal Limited.

🌍 External Factors

Industry Trends

The investment holding sector is evolving with Ind AS 109, which introduces high volatility in reported equity due to fair value accounting. KICL is positioned as a strategic long-term holder within the growing Indian industrial landscape.

Competitive Landscape

Key dynamics involve the performance of other industrial holding companies and the relative valuation of the Kalyani Group versus other Indian conglomerates.

Competitive Moat

KICL's moat is its exclusive role as the primary holding vehicle for the multi-billion dollar Kalyani Group, providing stable dividend streams (INR 597.59 Million in FY25) and access to high-quality industrial assets that are sustainable due to the group's market dominance.

Macro Economic Sensitivity

High sensitivity to Indian industrial growth and equity market performance, which dictates the fair value of the investment portfolio.

Geopolitical Risks

Indirect exposure through the global supply chains and export markets of Kalyani Group companies.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with RBI regulations for investment companies and SEBI Listing Obligations and Disclosure Requirements (LODR) 2015.

Environmental Compliance

Not disclosed; however, the company monitors environmental compliance at the associate level (Hikal Ltd).

Taxation Policy Impact

Standalone tax expense for H1 FY26 was INR 110.26 Million, representing an effective tax rate of 25.01%.

Legal Contingencies

The company reported no material developments regarding alleged environmental non-compliance or improper disposal of by-products at the associate level; specific case values in INR were not disclosed.

⚠️ Risk Analysis

Key Uncertainties

The primary risk is market volatility impacting FVTOCI investments, which saw a gain reduction of INR 22,653.48 Million YoY in H1 FY26, and the financial performance of associate Hikal Ltd.