Key Metrics 
Check Before You Invest 
10 Yrs X-Ray 
Profit & Loss 
Valuation 
Analyst Note 
Balance Sheet 
Cash Flow 
Financial Ratio 
Qtr. Results 
News 
About
Keltech Energies Ltd (506528)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 506528 NSE: Chemicals | Small Cap | Keltech Energies Share Price
₹7,789.90 118.05 (1.54%)
As on 23-Jul'26 16:59
Keltech Energies Ltd (506528)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 506528 NSE: Chemicals | Small Cap | Keltech Energies Share Price
₹7,789.90 118.05 (1.54%)
As on 23-Jul'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹779 Cr.
Current Price
₹7,789.9
52-Week Low / High
₹2,900 / 9,110
TTM EPS
₹286.7
TTM Sales
₹532 Cr.
Book Value per Share
₹1,529.5
P/E Ratio
27.18
Higher than its 5-year historical median
Industry PE
52
Price to Book (P/B)
5.09
Higher than its 5-year historical median
Price to Sales (P/S)
1.46
Higher than its 5-year historical median
EV/EBITDA
17.51
Higher than its 5-year historical median
Dividend Yield
0.02%
Profitability Efficiency
Return on Equity (ROE)
20.66%
Outperforms industry median
Return on Capital Employed (ROCE)
22.21%
Outperforms industry median
Return on Assets (ROA)
8.80%
Operating Profit Margin
7.7%
Net Profit Margin
5.39%
Gross Profit Margin
8.1%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
8.71%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
7.64%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
14.92%
Asset Quality
Promoter Holding
54.33%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹152 Cr.
Equity
₹1 Cr.
Face Value
₹10
All Time Low / High
₹4.05 / 9109.60
Check Before You Invest
Quality
Very GoodValuation
OvervaluedCheck Valuation charts
Price Trend
Weak
Is Keltech Energies Ltd a good quality company?
Keltech Energies Ltd is a good quality company, based on a consistently good multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Keltech Energies Ltd performance compare with that of its Peers?
Revenue growth of Keltech Energies Ltd vs industry peers?
Keltech Energies Ltd revenue CAGR is 17.71%, compared to the industry median CAGR of 7.53%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Keltech Energies Ltd?
Promoters hold 54.33% of the Keltech Energies Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Keltech Energies Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 25.7% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Keltech Energies Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 18.4% | 20.1% | 14.3% | 10.4% | 6.3% | 11.9% | 20.9% | 25.9% | 26% | 22.2% | - |
| Value Creation Index ⓘ | 0.3 | 0.4 | 0.0 | -0.3 | -0.6 | -0.2 | 0.5 | 0.9 | 0.9 | 0.6 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 201 | 202 | 226 | 216 | 220 | 355 | 563 | 449 | 489 | 532 | 532 |
| Sales YoY Gr. | - | 0.5% | 12% | -4.6% | 2% | 61.1% | 58.7% | -20.2% | 8.9% | 8.7% | - |
| Adj EPS ⓘ | 59.4 | 77 | 60.3 | 47.2 | 41 | 62.7 | 112.5 | 187.2 | 238.7 | 244.5 | 286.7 |
| YoY Gr. | - | 29.6% | -21.7% | -21.6% | -13.2% | 52.8% | 79.6% | 66.4% | 27.5% | 2.4% | - |
| BVPS (₹) ⓘ | 454.2 | 528.5 | 582.1 | 621.8 | 638.8 | 703.5 | 812.3 | 995.7 | 1,246.2 | 1,529.6 | 1,529.5 |
| Adj Net Profit ⓘ | 5.9 | 7.7 | 6 | 4.7 | 4.1 | 6.3 | 11.3 | 18.7 | 23.9 | 24.5 | 29 |
| Cash Flow from Ops. ⓘ | 13.1 | 10.8 | 2.3 | 5.5 | 7.7 | 20.6 | 18.3 | 51.2 | -17.6 | 48.5 | - |
| Debt/CF from Ops. ⓘ | 1.9 | 1.8 | 10 | 4.1 | 2.9 | 1.4 | 1.7 | 0.5 | -2.2 | 1.5 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 11.4% | 19.3% | -1.9% | 8.7% | ||||
| Adj EPS ⓘ | 17% | 42.9% | 29.5% | 2.4% | ||||
| BVPSⓘ | 14.4% | 19.1% | 23.5% | 22.7% | ||||
| Share Price | 31.9% | 56.4% | 73.9% | 82.6% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 13.9 | 15.7 | 10.9 | 7.8 | 6.5 | 9.3 | 14.9 | 20.7 | 21.3 | 17.6 | 18.7 |
| Op. Profit Mgn % ⓘ | 8.1 | 9.5 | 6.7 | 6.4 | 6.1 | 4.2 | 4.6 | 7.2 | 7.8 | 7.7 | 7.6 |
| Net Profit Mgn % ⓘ | 3 | 3.8 | 2.7 | 2.2 | 1.9 | 1.8 | 2 | 4.2 | 4.9 | 4.6 | 5.4 |
| Debt to Equity ⓘ | 0.5 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.2 | 0.3 | 0.5 | 0.3 |
| Working Cap Days ⓘ | 96 | 104 | 107 | 126 | 126 | 92 | 70 | 87 | 97 | 116 | 60 |
| Cash Conv. Cycle ⓘ | 13 | 26 | 30 | 33 | 30 | 22 | 21 | 19 | 2 | 6 | 8 |
Profit And Loss
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 201 | 202 | 226 | 216 | 220 | 355 | 563 | 449 | 489 | 532 |
| Operating Expenses ⓘ + | 185 | 183 | 211 | 202 | 207 | 340 | 537 | 417 | 451 | 491 |
| Operating Profit ⓘ | 16 | 19 | 15 | 14 | 13 | 15 | 26 | 32 | 38 | 41 |
| Operating Profit Margin (%) | 8.1% | 9.4% | 6.7% | 6.4% | 6.1% | 4.2% | 4.6% | 7.2% | 7.8% | 7.7% |
| Other Income ⓘ + | 0 | 0 | 1 | 0 | 0 | 2 | 2 | 5 | 6 | 7 |
| Interest ⓘ | 3 | 3 | 3 | 2 | 2 | 3 | 5 | 4 | 4 | 4 |
| Depreciation ⓘ | 4 | 5 | 5 | 6 | 5 | 6 | 6 | 7 | 7 | 8 |
| Profit Before Tax ⓘ | 9 | 11 | 8 | 6 | 3 | 8 | 17 | 26 | 33 | 39 |
| Tax ⓘ | 3 | 4 | 2 | 1 | 1 | 2 | 5 | 7 | 8 | 10 |
| Profit After Tax | 6 | 8 | 6 | 5 | 2 | 7 | 12 | 19 | 25 | 29 |
| PAT Margin (%) | 2.9% | 3.7% | 2.7% | 2.2% | 0.9% | 1.9% | 2.1% | 4.3% | 5.1% | 5.4% |
| Adjusted EPS (₹) | 58.4 | 75.5 | 60.3 | 47.4 | 18.8 | 66.3 | 119.2 | 194.2 | 249.4 | 286.7 |
| Dividend Payout Ratio (%) | 4.30% | 3.30% | 4.20% | 3.20% | 8% | 2.30% | 1.30% | 0.80% | 0.60% | 0.50% |
Valuation of Keltech Energies - Standalone
Analyst's Notes
No data found!
Balance Sheet
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 45 | 53 | 58 | 62 | 64 | 70 | 81 | 100 | 125 | 153 | |
| Debt + | 19 | 13 | 19 | 19 | 19 | 24 | 24 | 19 | 34 | 64 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 28 | 22 | 34 | 33 | 39 | 55 | 58 | 65 | 91 | 76 | |
| Others Liabilities ⓘ | 27 | 31 | 29 | 26 | 25 | 36 | 42 | 40 | 38 | 71 | |
| Total Liabilities ⓘ | 119 | 119 | 140 | 140 | 147 | 185 | 205 | 223 | 287 | 364 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 56 | 56 | 56 | 54 | 54 | 70 | 69 | 71 | 68 | 117 | |
| CWIP ⓘ | 1 | 1 | 1 | 3 | 6 | 1 | 1 | 1 | 9 | 38 | |
| Investments ⓘ | 0 | 0 | 0 | 0 | 0 | 7 | 10 | 20 | 22 | 13 | |
| Inventories | 14 | 15 | 18 | 19 | 20 | 36 | 40 | 35 | 42 | 49 | |
| Trade Receivables | 32 | 28 | 39 | 38 | 40 | 46 | 62 | 48 | 57 | 62 | |
| Cash Equivalents | 4 | 3 | 9 | 8 | 10 | 7 | 9 | 32 | 26 | 19 | |
| Others Assets ⓘ | 13 | 16 | 17 | 18 | 18 | 18 | 14 | 15 | 64 | 65 | |
| Total Assets ⓘ | 119 | 119 | 140 | 140 | 147 | 185 | 205 | 223 | 287 | 364 | |
Cash Flow
(All Figures are in Crores.)| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 13 | 11 | 2 | 5 | 8 | 21 | 18 | 51 | -18 | 49 |
| Cash Flow From Investing Activity ⓘ + | -12 | -4 | -5 | -3 | -7 | -23 | -8 | -17 | -10 | -75 |
| Cash Flow From Financing Activity ⓘ + | -1 | -8 | 4 | -2 | -3 | 2 | -4 | -11 | 10 | 30 |
| Net Cash Flow ⓘ | 0 | -1 | 1 | -0 | -2 | -1 | 6 | 23 | -18 | 3 |
Financial Ratio
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 13.68 | 15.37 | 10.85 | 7.87 | 2.98 | 9.88 | 15.73 | 21.48 | 22.25 | 20.66 |
| ROCE (%) | 18.35 | 20.11 | 14.28 | 10.42 | 6.26 | 11.94 | 20.85 | 25.93 | 26.04 | 22.21 |
| Asset Turnover Ratio | 1.94 | 1.74 | 1.81 | 1.54 | 1.53 | 2.14 | 2.89 | 2.1 | 1.92 | 1.63 |
| PAT to CFO Conversion(x) | 2.17 | 1.38 | 0.33 | 1 | 4 | 3 | 1.5 | 2.68 | -0.72 | 1.69 |
| Working Capital Days | ||||||||||
| Receivable Days | 45.10 | 53.30 | 54.10 | 64.80 | 64.10 | 44.20 | 35.10 | 44.70 | 39.10 | 40.60 |
| Inventory Days | 21.40 | 25.30 | 26.60 | 31.60 | 32.50 | 29 | 24.80 | 30.30 | 28.60 | 31.30 |
| Payable Days | 78.20 | 79.70 | 74.10 | 97.10 | 98.90 | 67.20 | 47.10 | 73.80 | 89.80 | 88.50 |
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Top 5 Mutual Funds Holding
Last Visited Stocks
Announcements
Keltech Energies Ltd FAQs
The current trading price of Keltech Energies on 23-Jul-2026 16:59 is ₹7,789.9.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 22-Jul-2026 the market cap of Keltech Energies stood at ₹779.0 Cr
The latest P/E ratio of Keltech Energies as of 22-Jul-2026 is 27.18.
The latest P/B ratio of Keltech Energies as of 22-Jul-2026 is 5.09.
The 52-week high of Keltech Energies is ₹9,109.6 and the 52-week low is ₹2,900.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Keltech Energies is ₹532 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Keltech Energies Ltd is a good quality company.
The key valuation ratios of Keltech Energies Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Keltech Energies Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Keltech Energies Ltd
Keltech Energies, (KEL), formerly known as Karnataka Explosive, a public limited company established in 1977 is a member of the renowned Chowgule Group of Goa. The group is in the fields of mining, shipping, shipbuilding, chemicals, explosives, expanded perlite, breweries and many other industries.
Keltech Energies manufactures watergel cartridge explosives, bulk emulsion explosives, mono methyl amine nitrate (MMAN) solution and a variety of expanded perlite products. Apart from the domestic market, KEL’s watergel explosives, MMAN and perlite products are also being exported to other countries.
Expanded perlite is manufactured by Keltech Energies, perlite division at Vishwasnagar near Mangalore, Karnataka. This plant setup in 1985 with technical assistance from Silibrico Corporation Inc., U S A produces a wide range of perlite products to meet the requirement of the following industries:
- Construction and insulation
- Cryogenic
- Horticulture
- Refractories
- Explosives
- Foundry
- Poultry feed
- Garment washing
The company added a second expander in 1997 to cater to the needs of the markets in northern India. The company also has a portable expander to carryout site expansion and filling of annular space of cryogenic tanks.
KEL Perlite is a registered member of the Perlite Institute Inc., U S A and has access to the latest technical information in the application of expanded perlite. The ore for expansion is imported from Greece, Turkey, New Zealand, U S A and is selected based on the application.
KEL is an ISO certified company and has expertise to carryout thermal insulation work of cryogenic tanks.
Marketing all perlite products and turnkey installation jobs is undertaken by Chowgule Industries, a sister concern of KEL.
KEL also undertakes turnkey installation of in-situ light weight perlite-concrete blocks for base insulation of cryogenic tanks and annular insulation filling of double wall LNG tanks.
Tie Ups
KEL obtained the technology for manufacturing Watergel explosives from M/s Dupont de Nemours Co. Inc.,USA.
The company had another technical collaboration with M/s Silbrico Corporation, USA for manufacturing expanded perlite products for use in construction, low temperature insulation, refractory, fillers, foundry, medicine carrier, thermoplastics, horticultural and other applications.
KEL is a member of the International Society of Explosives Engineers as well as the Perlite Institute Inc.
Products of Company
- Explosives
- Perlite
- Fire Proofing
Achievements/ recognition
In September 2000, the company obtained ISO 9002 accreditation through Det Norske Vertias. This was upgraded to ISO 9001-2000 version in 2002.
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