MoneyWorks4Me

Kusumgar Ltd (KUSUMGAR)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544821 NSE: KUSUMGAR Textile | Small Cap | Kusumgar Share Price

₹568 0.60 (0.11%)

As on 11-Sep'26 16:01

Kusumgar Ltd (KUSUMGAR)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544821 NSE: KUSUMGAR Textile | Small Cap | Kusumgar Share Price

₹568 0.60 (0.11%)

As on 11-Sep'26 16:01

Key Metrics
Valuation Multiples
Market Cap
₹5,957 Cr.
Current Price
₹568
52-Week Low / High
₹548 / 660
TTM EPS
₹9.4
TTM Sales
₹692 Cr.
Book Value per Share
₹49.6
P/E Ratio
60.66
Lower than its 5-year historical median
Industry PE
36.1
Price to Book (P/B)
11.45
Higher than its 5-year historical median
Price to Sales (P/S)
8.61
In line with its 5-year historical median
EV/EBITDA
29.54
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
26.84%
Return on Capital Employed (ROCE)
26.15%
Return on Assets (ROA)
12.61%
Operating Profit Margin
27.2%
Net Profit Margin
14.19%
Gross Profit Margin
26.3%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-16.14%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-0.29%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-12.31%
Asset Quality
Promoter Holding
75.01%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹510 Cr.
Equity
₹10.5 Cr.
Face Value
₹1
All Time Low / High
₹547.80 / 659.60

Kusumgar stock performance

Key Ratios
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Valuation

Overvalued

Price Trend

Semi Strong
Q.1 Is Kusumgar Ltd a good quality company?
Kusumgar Ltd is a weak quality company, based on a inconsistent 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 Kusumgar Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Kusumgar Ltd vs industry peers?
Kusumgar Ltd revenue CAGR is 29.24%, compared to the industry median CAGR of 1.09%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Kusumgar Ltd?
Promoters hold 75.01% of the Kusumgar Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Kusumgar Ltd over the last decade?
Over the last - year(s), the stock has delivered a CAGR of N/A% 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 end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

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.
Kusumgar Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 25.6%43.9%34.8%20.4%-
Value Creation
Index
0.92.31.60.5-

Growth Parameters

Sales 313474806676676
Sales YoY Gr.-51.5%69.9%-16.1%-
Adj EPS 3.57.710.47.78.4
YoY Gr.-119.9%34.4%-26.2%-
BVPS (₹) 16243555.958
Adj Net
Profit
35.978.910677.988
Cash Flow from Ops. 16.6199-47.435.8-
Debt/CF from Ops. 2.80.4-5.26.3-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales NANA29.2%-16.1%
Adj EPS NANA29.7%-26.2%
BVPSNANA51.8%59.6%
Share Price - - - -

Key Financial Parameters

Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
2238.73516.414.7
Op. Profit
Mgn %
21.126.722.825.225.3
Net Profit
Mgn %
11.516.613.111.513
Debt to
Equity
0.30.30.70.4-
Working Cap
Days
01431192180
Cash Conv.
Cycle
081551220

Valuation of Kusumgar - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'23Mar'24Mar'25Mar'26
Sales302468779692
Operating Expenses + 234336591504
Manufacturing Costs4491110115
Material Costs139177360256
Employee Cost 32416688
Other Costs 19275545
Operating Profit 68132188188
Operating Profit Margin (%) 22.5%28.2%24.2%27.1%
Other Income + 271120
Exceptional Items 0000
Interest 561526
Depreciation 15173447
Profit Before Tax 49115151135
Tax 12313937
Profit After Tax 378411298
PAT Margin (%) 12.3%18.0%14.4%14.2%
Adjusted EPS (₹)3.78.311.09.7
Dividend Payout Ratio (%)0%0%0%0%
PARTICULARSMar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 56140254479
Share Capital 221012
Reserves 54138244467
Debt +3863230188
Long Term Debt20357685
Short Term Debt1928154103
Minority Interest0000
Trade Payables19524767
Others Liabilities 141355101191
Total Liabilities 254611632925

Fixed Assets

Net Fixed Assets +98186233307
Gross Block111213293412
Accumulated Depreciation132760105
CWIP 084526
Investments 0121515
Inventories68144137195
Trade Receivables554256233
Cash Equivalents 111434148
Others Assets 2275105100
Total Assets 254611632925
PARTICULARSMar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 18201-15528
PBT 49115151135
Adjustment 18164473
Changes in Working Capital -3796-306-162
Tax Paid -12-26-44-17
Cash Flow From Investing Activity + -18-2002-103
Capex -18-66-106-69
Net Investments -0-125102-36
Others 1-962
Cash Flow From Financing Activity + 22115170
Net Proceeds from Shares 0000
Net Proceeds from Borrowing 0000
Interest Paid -4-4-12-24
Dividend Paid 0000
Others 62516394
Net Cash Flow 223-2-5
PARTICULARSMar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)66.9286.1356.7526.84
ROCE (%)52.9175.8745.8826.15
Asset Turnover Ratio1.191.081.250.89
PAT to CFO Conversion(x)0.492.39-1.380.29
Working Capital Days
Receivable Days6738.102376.30
Inventory Days8282.5065.7087.50
Payable Days5073.5050.4081.20

Top 5 Mutual Funds Holding

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Announcements

Kusumgar Ltd FAQs

The current trading price of Kusumgar on 11-Sep-2026 16:01 is ₹568.0.

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 10-Sep-2026 the market cap of Kusumgar stood at ₹5,957.2 Cr

The latest P/E ratio of Kusumgar as of 10-Sep-2026 is 67.60.

The latest P/B ratio of Kusumgar as of 10-Sep-2026 is 9.78.

The 52-week high of Kusumgar is ₹659.6 and the 52-week low is ₹547.8.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Kusumgar is ₹676 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Kusumgar Ltd is a below average quality company.

The key valuation ratios of Kusumgar 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 Semi Strong which suggest that the price of Kusumgar Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Kusumgar Ltd

Kusumgar was originally incorporated as ‘Kusumgar Finstocks Private Limited’ as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated June 15, 1990, issued by the Registrar of Companies, Maharashtra at Mumbai.

Kusumgar is a manufacturer of woven, coated and laminated synthetic fabrics, referred to as engineered fabrics. It offers engineered fabrics and solutions focusing on polyamides and polyester filaments and polyurethane chemistry that cater to the high-performance requirements of its customers. Its expertise is manufacturing fabrics where critical performance parameters include tensile strength, tear strength, abrasion resistance, comfort, airpermeability, and water proofing, among others. 

The company has leveraged its process knowledge and product development expertise to manufacture unique fabric configurations to build a niche around synthetic functional and performance fabrics, addressing growing demand in the aerospace and defence, industrial and automotive, and outdoor and lifestyle segments. The engineered fabrics industry is an industry that requires precision and a high level of technical know-how. It leverages its technical strengths and partnerships to focus on high-technology applications. Its business model drives profitable growth, and it is poised for continued growth, driven by exports, global supply chain shifts, modernisation and indigenisation of military equipment, expanded product lines and technological innovations. It manufactures products primarily for four market segments: (i) Aerospace and Defence Fabrics; (ii) Aerospace and Defence Solutions; (iii) Industrial and Automotive Fabrics; and (iv) Outdoor and Lifestyle Fabrics, each of which has high entry barriers.

Business area of the company

Kusumgar, along with its Subsidiaries, is primarily engaged in the business of manufacturing, marketing, and supplying a diverse range of technical textile fabrics, offering innovative and high-performance solutions to meet evolving customer requirements.

Awards, accreditations or recognitions

  • 1995: Received the National Award for Indigenisation by the Department of Defence Production, Ministry of Defence for excellence in indigenisation of defence equipment in the category of textile, chemical and rubber technology.
  • 2022: Received a certificate of membership from the Parachute Industry Association.
  • 2023: Received the IATF 16949 certification for its quality management system for manufacturing of woven fabric
  • 2024: Received the Oeko-Tex Standard 100 certification for its woven fabrics made of polyamide and polyester
  • 2024: Received AS9100D and ISO 9001:2015 certification for its quality management system for manufacturing and supply of woven fabric.
  • 2025: Received Global Recycled Standard certification for its greige fabrics and dyed fabrics and the processes carried out for such certified products for its facility at Karanj.
  • 2026: Received ISO 45001:2018 certification for manufacture of woven, dyed, finished, coated and printed fabrics.

History and milestones

  • 2010: Established capabilities at the Vapi facility for manufacturing of technical textiles, parachute fabrics, geo synthetic and textile performance fabrics.
  • 2017: Established a weaving facility at Kosamba.
  • 2017: Entered into a licensing agreement with a defence research and development organisation for the transfer of technology of the recovery parachute system.
  • 2021: Entered into a licensing agreement with a defence institute and a defence research and development organisation for transfer of technology and subsequent utilisation of extreme cold weather clothing system.
  • 2021: Supplied recovery system parachutes with deployment bag to the Indian government.
  • 2022: Received a transfer of technology certificate from a defence institute and a defence research and development organisation for successfully absorbing the technology for manufacturing the combat free fall parachute system.
  • 2025: Entered into a licensing agreement with a defence institute and a defence research and development organisation for the transfer of technology of the military combat parachute system.
  • 2025: Entered into a licensing agreement with a research and development organisation for the transfer of technology of the synthetic multispectral camouflage net.

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