KANANIINDConsumer Discretionary

Kanani Industries Limited

Gems, Jewellery And Watches · ISIN INE879E01037 · BSE 506184 · NSE EQ · FV ₹1
Last price
₹2
-1.27%today
What this company does

Kanani Industries Limited operates in Gems, Jewellery And Watches, part of the Consumer Discretionary sector. It booked ₹75 cr of revenue in its latest quarter (Q2 FY27) and kept 2.3% of sales as profit.

In the report:
67out of 100
Equitytale Health Score
Solid

Healthier than 67% of companies in Consumer Discretionary, on all six measures of filed financials. Each measure is ranked against the 178–428 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
56

At close. Not part of the score.

Profitability & returns51

How much profit it earns on the money it employs

Balance sheet91

How much it owes, and whether earnings cover the interest

Cash quality41

Whether reported profit actually arrives as cash

Growth & consistency48

Whether sales and profit have grown, and how steadily

Valuation91

What today's price implies, against our models or its peers

Governance & risk86

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Sales up 55% vs last year
✓ Profit up 26% vs last year
✓ No promoter shares pledged
✓ Virtually debt-free
Watch-outs
! Thin 2.3% net margin
! Operating cash flow is negative

What if I invest in KANANIIND?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 0% a year, it would become
₹12.00 lakh

The slider starts at 0%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹2▼ -1.27%
latest close · 2026-11-04
1-year return
-83.3%
52-wk low ₹152-wk high ₹42
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio4.3Low
LowAverageHigh
P/B ratio0.43Below book
Below bookModerateHigh
EV / EBITDA3.9Low
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity9.6%Fair
WeakFairStrong ▸15%
Return on capital10.8%Fair
WeakFairStrong
Net margin2.3%Thin
ThinDecentStrong
EBITDA margin2.6%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.01Comfortable
LowModerateHigh ▸1
Interest cover1,956.2×Strong
RiskyOkayStrong ▸5×
Current ratio3.40Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹31 cr
Book value
₹4
EPS
₹0.09
latest quarter
Net debt
₹15.1 L
owes more than its cash
Enterprise value
₹31 cr
EBITDA
₹8 cr
annualised
EBIT
₹8 cr
annualised
Operating margin
2.6%
Return on assets
6.7%
Earnings yield
23.23%
P/S
0.10
Sales / share
₹15.2
Tax rate
12.6%
Face value
₹1
Shares
19.8 cr
Working capital
₹72 cr
Current assets
₹102 cr
Current liabilities
₹30 cr
Delivery %
66.5%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
It earns about 2% on its capital — below the ~14% return we'd require to fund it — so a low price is likely justified, not a bargain.
Models span ₹2–₹2, midpoint ₹2

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹75 cr
Other Income₹2 cr
Total Income₹77 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹77 cr
Inventory Change (±)₹-2 cr
Employee Benefit Expense₹21.4 L
Finance Costs₹0.1 L
Depreciation & Amortisation₹0.32 L
Other Expenses₹16.7 L
Total Expenses₹75 cr
Profit before Tax₹2 cr
Tax Expense₹24.6 L
Net Profit₹2 cr
Net margin on total income2.2%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹75 cr97.0%
Employee benefit expense₹21.4 L0.3%
Finance costs₹0.1 L0.0%
Depreciation & amortisation₹0.32 L0.0%
Other expenses₹16.7 L0.2%
Tax expense₹24.6 L0.3%
Profit for the period₹2 cr2.2%
Total income ₹77 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue13 cr64 cr75 cr
Total income13 cr64 cr77 cr
Expenses12 cr64 cr75 cr
Profit before tax45.3 L-3.1 L2 cr
Tax-9.5 L0.76 L24.6 L
Net profit (owners' share)54.8 L-3.8 L2 cr
Net margin (owners' share, on revenue)4.2%-0.1%2.3%
EPS (₹)0.030.000.09
YoY (latest quarter): total income +55.3% · net profit +26.0%
Balance sheet & cash flow · as of Sep 2026
Debt-free
Total assets
₹102 cr
Shareholder equity
₹71 cr
parent shareholders
Total debt
₹77.2 L
Cash
₹62.1 L
Cash flow · H1 FY27
Operating
₹-1 cr
Investing
₹0 cr
Financing
₹29.2 L
Peer comparison
Gems, Jewellery And Watches · by market value
CompanyPriceMarket capP/E
Titan Company Limited₹4,562₹4.05 L cr56.9
Kalyan Jewellers India Limited₹508₹52,484 cr37.6
Lalithaa Jewellery Mart Limited₹363₹18,149 cr21.8
PC Jeweller Limited₹15₹14,408 cr10.8
Thangamayil Jewellery Limited₹4,533₹14,088 cr41.4
SKY GOLD AND DIAMONDS LIMITED₹870₹13,478 cr26.3
BlueStone Jewellery and Lifestyle Limited₹672₹10,272 cr—
P N Gadgil Jewellers Limited₹576₹8,472 cr16.6
Ethos Limited₹2,654₹7,102 cr63.1
Same industry · latest reported numbers · not a recommendation.
Corporate actions
ActionDetailEx-date
Bonus issue1:130 Jan 2024
Bonus issue10:11 Feb 2013
Stock splitStock Split From Rs.5/- to Rs.1/-1 Nov 2012
Who owns it · 2026-09-30
No pledge
Promoter
33.8%
Public
66.2%
Promoter stake down 27.6% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtHARSHIL PREMJIBHAI KANANI · Promoters24.48 L · ₹64.1 L25 Oct 24
SoldHARSHIL PREMJIBHAI KANANI · Promoters5.00 L · ₹14.6 L27 Aug 24
SoldHARSHIL PREMJIBHAI KANANI · Promoters34.00 L · ₹99.1 L23 Aug 24
Bulk / block deals
SoldPUNISH SADANA · NSE23.00 L @ ₹2.593 Apr 25
BoughtPUNISH SADANA · NSE1.00 L @ ₹2.633 Apr 25
SoldTHUNDERSTRIKE QUANT RESEARCH LLP · NSE10.00 L @ ₹2.8130 Aug 24
Stake changes
BoughtMr. Harshil Premjibhai Kanani · promoter→ 33.79% · 24.48 L25 Oct 24
SoldMr. Harshil Premjibhai Kanani · promoter→ 32.55% · 5.00 L27 Aug 24
SoldMr. Harshil Premjibhai Kanani · promoter→ 34.52% · 30.00 L22 Aug 24
What shareholders were asked to approve
10 proposals passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 28 Sep 2026
See the official result
1
To receive, consider and adopt the Standalone and Consolidated Audited Financial Statements of the Company for the year ended March 31, 2026 together with the Reports of the Board of Directors and Auditor’s thereon
⚑ Passed only because promoters voted yes
Backed by 7% of shareholders other than promotersneeded 50%
34,261 votes for, 4.27 L against
2
To appoint a Director in place of Mr. Premjibhai Kanani (DIN: 01567443), who retires by rotation and being eligible, offers himself for reappointment
⚑ Passed only because promoters voted yes
Backed by 7% of shareholders other than promotersneeded 50%
33,241 votes for, 4.28 L against
3
Re-appointment of Mr. Premjibhai Kanani (DIN: 01567443) as the Whole time Director
⚑ Passed only because promoters voted yes
Backed by 7% of shareholders other than promotersneeded 50%
33,039 votes for, 4.28 L against
4
Re-appointment of Mr. Harshil Kanani [DIN: 01568262] as the Managing Director
⚑ Passed only because promoters voted yes
Backed by 7% of shareholders other than promotersneeded 50%
33,141 votes for, 4.28 L against
5
To approve continuation of directorship of the existing director serving on the board of the company for five years or more under regulation 17(1D) of SEBI LODR Regulations
⚑ Passed only because promoters voted yes
Backed by 7% of shareholders other than promotersneeded 50%
34,142 votes for, 4.27 L against

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 3 named members
owning 33.8% between them · as of 2026-09-30
HARSHIL PREMJIBHAI KANANI25.70%
PREMJIBHAI DEVAJIBHAI KANANI8.09%
ALPESH VINUBHAI KANANIno shares
Business done with them
FY2023 · 1 of the group
The company paid ₹5 L to companies in the promoter group last year — about 0.0% of its ₹270 cr revenue.
Harshil Premjibhai Kanani
Other payments to them · Remuneration
also owns 25.70% of the company
₹5 L
company paid

The company also transacted with 4 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.