KSCL
Kaveri Seed Company share price & financials
- Price
- ₹849.5
- Market cap
- ₹3.9k Cr
- Sector
- Fast Moving Consumer Goods
- Calls analysed
- 7
Kaveri Seed Company Limited Q1 FY27
What went well
- New cotton products now comprise 37% of cotton sales, up from 22% last year, indicating strong farmer adoption.
- New single-cross maize hybrids account for over 20% of maize sales, strengthening the product base.
- Two new paddy hybrids (KRH7344 and KRH7227) contributed 62% to new product sales in their first season, marking a strong start.
What to watch
- Revenue from operations declined to ₹815 crores from ₹945 crores YoY, a 13.8% decrease.
- EBITDA decreased to ₹285 crores from ₹332 crores YoY, a 14.3% decline.
What Kaveri Seed Company Limited does
Kaveri Seed Company breeds, produces and markets hybrid seeds for field crops (cotton, maize, hybrid and selection rice, bajra, jowar, sunflower, wheat, mustard) and vegetable crops (tomato, chilli, okra, gourd, pumpkin, muskmelon, watermelon, cucumber) sold to farmers across India. It earns by contracting seed growers to multiply its proprietary hybrids under company supervision, then grading, treating, packaging and certifying the finished seed at its own processing plants before selling through a nationwide dealer and distributor network. An in-house R&D programme spanning genomics, molecular breeding and speed-breeding techniques develops new hybrids, and the company is expanding sales of hybrid paddy, maize and vegetable seeds into export markets in Asia, Africa and the Middle East, including through a Bangladesh subsidiary.
Segments
- Cotton
- Non-Cotton
- Seed processing/conditioning plants
- 9 (across Telangana, Andhra Pradesh and Karnataka)
- Warehouse storage capacity
- 10,00,000 sq. ft.
- Cold storage capacity
- 35,000 MT
- R&D scientists/technical professionals
- 172
- Breeding locations (field + vegetable crops)
- 33 (20 field-crop + 13 vegetable-crop)
- Seed testing locations (field + vegetable crops)
- 149 (122 field-crop + 27 vegetable-crop)
Guidance record · Q1 FY27
what the last two calls moved 12 tracked 1 delivered 3 missed 8 open- Top-line growth delivered said Q3 FY25 Promised: 10% to 12% at the top-line for the next 2 years Q1 FY27: This promise pertained to FY26 and was successfully achieved. New guidance for FY27 is tracked separately.
- Bottom-line growth missed said Q3 FY25 Promised: 15% to 20% at the bottom-line for the next 2 years Q1 FY27: Q1 FY27 Net Profit declined 14.1% YoY, continuing the trend of missing the original target.
- Export Revenue revised down said Q3 FY25 Promised: INR 160 crores in 3 to 5 years Q1 FY27: Q1 exports grew nearly 4x YoY. However, management revised the long-term target down to ₹100 crores (in 3 years) from the original ₹160 crores.
All 12 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue down 13.8%, net profit down 14.2% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 82 | 155 | 77 | 945 | 97 +18% | 180 +16% | 82 +6% | 815 −14% |
| EBITDA | -6 | 13 | -15 | 322 | -6 +0% | 18 +38% | -14 +7% | 281 −13% |
| Net profit | -3 | 15 | -29 | 316 | -15 −400% | 7 −53% | -26 +10% | 271 −14% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −38.8% 1Y
1Y: ₹1,169.5 on 10 Sept 2025 → ₹715.85. High ₹1,202.1 (17 Sept 2025), low ₹714.6 (4 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- +1.0%
- 14 Aug
- Q4 FY26
- −0.1%
- 27 May
- Q3 FY26
- +3.1%
- 10 Feb
- Q2 FY26
- −3.8%
- 7 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 6.8% a year over 3 years, FY23 to FY26. Operating margin widened to 24.5%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1.1k Cr | ₹1.1k Cr | ₹1.1k Cr | ₹1.3k Cr |
| Operating profit | ₹252 Cr | ₹271 Cr | ₹275 Cr | ₹320 Cr |
| Operating margin | 23.5% | 25.5% | 24.5% | 24.5% |
| Interest | ₹0 Cr | ₹0 Cr | ₹9 Cr | ₹3 Cr |
| Depreciation | ₹21 Cr | ₹26 Cr | ₹37 Cr | ₹58 Cr |
| Net profit | ₹272 Cr | ₹294 Cr | ₹266 Cr | ₹282 Cr |
| Net margin | 25.4% | 27.7% | 23.7% | 21.6% |
| Cash from operations | ₹291 Cr | ₹387 Cr | ₹180 Cr | ₹-26 Cr |
| Free cash flow | ₹188 Cr | ₹296 Cr | ₹100 Cr | ₹-155 Cr |
| ROCE | 16.0% | 21.0% | 19.0% | 18.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹12 Cr | ₹12 Cr | ₹11 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr |
| Reserves | ₹1.3k Cr | ₹1.3k Cr | ₹1.4k Cr | ₹1.2k Cr | ₹1.8k Cr | ₹1.7k Cr |
| Borrowings | ₹2 Cr | ₹1 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other liabilities | ₹699 Cr | ₹568 Cr | ₹631 Cr | ₹778 Cr | ₹847 Cr | ₹957 Cr |
| Total liabilities | ₹2.0k Cr | ₹1.9k Cr | ₹2.0k Cr | ₹2.0k Cr | ₹2.6k Cr | ₹2.7k Cr |
| Fixed assets | ₹241 Cr | ₹237 Cr | ₹256 Cr | ₹289 Cr | ₹422 Cr | ₹423 Cr |
| Capital work in progress | ₹26 Cr | ₹43 Cr | ₹128 Cr | ₹128 Cr | ₹100 Cr | ₹100 Cr |
| Investments | ₹627 Cr | ₹540 Cr | ₹587 Cr | ₹503 Cr | ₹419 Cr | ₹454 Cr |
| Other assets | ₹1.1k Cr | ₹1.0k Cr | ₹1.0k Cr | ₹1.1k Cr | ₹1.7k Cr | ₹1.7k Cr |
| Total assets | ₹2.0k Cr | ₹1.9k Cr | ₹2.0k Cr | ₹2.0k Cr | ₹2.6k Cr | ₹2.7k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs trimmed −2.80 pp while the public added +1.97 pp. The shareholder count shrank 12% to 56,948.
- Promoters
- 60.5%
- FIIs
- 17.5%
- DIIs
- 3.5%
- Public
- 17.7%
- Others
- 0.8%
Since Jun 2025
- FIIs −2.80 pp
- Public +1.97 pp
- DIIs +0.62 pp
How it drifted, 12 quarters
Over this window DIIs fell from 6.8% to 3.5% — −3.3 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 59.9%, FIIs 16.3%, DIIs 6.8%, Public 15.6%, Others 1.5%.Dec '23: Promoters 59.9%, FIIs 17.7%, DIIs 4.6%, Public 16.4%, Others 1.5%.Mar '24: Promoters 60.5%, FIIs 17.2%, DIIs 4.8%, Public 15.9%, Others 1.6%.Jun '24: Promoters 60.5%, FIIs 19.0%, DIIs 5.0%, Public 15.0%, Others 0.6%.Sep '24: Promoters 60.5%, FIIs 19.8%, DIIs 3.8%, Public 15.3%, Others 0.6%.Dec '24: Promoters 60.5%, FIIs 19.5%, DIIs 3.5%, Public 15.9%, Others 0.6%.Mar '25: Promoters 60.5%, FIIs 20.4%, DIIs 2.9%, Public 15.6%, Others 0.6%.Jun '25: Promoters 60.5%, FIIs 20.3%, DIIs 2.9%, Public 15.7%, Others 0.6%.Sep '25: Promoters 60.5%, FIIs 20.4%, DIIs 2.9%, Public 15.7%, Others 0.6%.Dec '25: Promoters 60.5%, FIIs 19.9%, DIIs 2.8%, Public 15.4%, Others 1.4%.Mar '26: Promoters 60.5%, FIIs 18.6%, DIIs 2.9%, Public 17.3%, Others 0.8%.Jun '26: Promoters 60.5%, FIIs 17.5%, DIIs 3.5%, Public 17.7%, Others 0.8%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Old Bridge Focused Equity Fund Mutual fund +0.88 pp 2.21% held
- Bowhead India Fund FPI fund +0.82 pp 4.54% held
The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Kaveri Seed Company Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| G.V. Bhaskar Rao, Trustee of Madhushree Private Trust | 19.61% | unchanged |
| G.V. Bhaskar Rao, Trustee of Pawan Private Trust | 19.61% | unchanged |
| Gundavaram Venkata Bhaskar Rao | 9.68% | unchanged |
| Massachusetts Institute Of Technology Endowment | 5.34% | unchanged |
| Bowhead India Fund FPI fund | 4.54% | +0.82 pp |
| Vanaja Devi Gundavaram | 4.26% | unchanged |
| Pawan Gundavaram | 4.03% | unchanged |
| Old Bridge Focused Equity Fund Mutual fund | 2.21% | +0.88 pp |
| Vamsheedhar Chennamaneni | 1.76% | unchanged |
| Mithun Chand Chennamaneni | 1.55% | unchanged |
| 238 Plan Associates Llc FPI fund | 1.54% | unchanged |
| Long Term Equity Fund Unclassified | — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse Kaveri Seed Company Limited
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