Financials KDDL Limited

Equities

532054

INE291D01011

Apparel & Accessories

End-of-day quote Bombay S.E. Other stock markets 06:00:00 2024-05-20 pm EDT			5-day change	1st Jan Change
2,550 ^INR	-3.11%		-1.55%	-10.00%

May. 15	Transcript : KDDL Limited, Q4 2024 Earnings Call, May 15, 2024
May. 14	KDDL Limited Reports Earnings Results for the Fourth Quarter Ended March 31, 2024	CI

Valuation

Fiscal Period: März	2023	2024	2025	2026
Capitalization ¹	12,760	31,975	-	-
Enterprise Value (EV) ¹	12,760	30,838	31,975	31,975
P/E ratio	24.1 x	30 x	25.8 x	20.1 x
Yield	0.39%	0.55%	0.65%	0.73%
Capitalization / Revenue	1.14 x	2.22 x	1.92 x	1.57 x
EV / Revenue	1.14 x	2.22 x	1.92 x	1.57 x
EV / EBITDA	7.92 x	12.4 x	10.6 x	8.52 x
EV / FCF	-	123 x	25.6 x	23.4 x
FCF Yield	-	0.81%	3.91%	4.28%
Price to Book	2.8 x	5.93 x	3.83 x	3.3 x
Nbr of stocks (in thousands)	12,537	12,537	-	-
Reference price ²	1,018	2,550	2,550	2,550
Announcement Date	5/26/23	5/14/24	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: März	2022	2023	2024	2025	2026
Net sales ¹	-	11,194	13,910	16,688	20,304
EBITDA ¹	-	1,611	2,479	3,019	3,754
EBIT ¹	-	1,118	1,830	2,343	2,980
Operating Margin	-	9.98%	13.15%	14.04%	14.68%
Earnings before Tax (EBT) ¹	-	1,076	1,862	2,236	2,825
Net income ¹	319.1	535.9	1,027	1,240	1,591
Net margin	-	4.79%	7.38%	7.43%	7.84%
EPS ²	-	42.18	81.90	98.90	126.8
Free Cash Flow ¹	-	-	260	1,250	1,369
FCF margin	-	-	1.89%	7.49%	6.74%
FCF Conversion (EBITDA)	-	-	10.18%	41.4%	36.47%
FCF Conversion (Net income)	-	-	25.47%	100.81%	86.05%
Dividend per Share ²	-	4.000	14.10	16.70	18.60
Announcement Date	5/30/22	5/26/23	5/14/24	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3
Net sales ¹	-	2,601	3,128	2,992	3,315	3,309	3,787
EBITDA ¹	-	231.6	559.2	420.3	594.8	553	707
EBIT	-	-	-	-	-	-	-
Operating Margin	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	-	-	-	-	439.6	395	512
Net income ¹	132	-	-	-	258	207	274
Net margin	-	-	-	-	7.78%	6.26%	7.24%
EPS ²	-	-	-	-	20.58	16.30	21.90
Dividend per Share	-	-	-	-	-	-	-
Announcement Date	7/28/22	11/5/22	2/12/23	5/26/23	8/12/23	-	-

¹INR in Million²INR

Estimates

Balance Sheet Analysis

Fiscal Period: March	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-
Net Cash position	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-
Free Cash Flow ¹	-	-	260	1,250	1,369
ROE (net income / shareholders' equity)	-	15.1%	13.4%	10.2%	11.5%
ROA (Net income/ Total Assets)	-	5.64%	8.3%	7.1%	8%
Assets ¹	-	9,500	12,301	17,465	19,888
Book Value Per Share ²	-	364.0	430.0	666.0	773.0
Cash Flow per Share ²	-	-	32.60	108.0	103.0
Capex ¹	-	-	602	652	402
Capex / Sales	-	-	4.38%	3.91%	1.98%
Announcement Date	5/30/22	5/26/23	5/14/24	-	-

¹INR in Million²INR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for KDDL Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

2,550 INR

Average target price

3,046 INR

Spread / Average Target

+19.43%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Watches

	1st Jan change	Capi.
KDDL LIMITED	-10.00%	396M
CITIZEN WATCH CO., LTD.	+21.88%	1.61B
SEIKO GROUP CORPORATION	+54.97%	1.14B
MOVADO GROUP, INC.	-10.48%	600M
CITYCHAMP WATCH & JEWELLERY GROUP LIMITED	-11.30%	586M
FIYTA PRECISION TECHNOLOGY CO., LTD.	-7.85%	538M
TIMEX GROUP INDIA LIMITED	-20.55%	162M
TIME WATCH INVESTMENTS LIMITED	-7.53%	113M
ERNEST BOREL HOLDINGS LIMITED	+2.63%	90.09M
HENGDELI HOLDINGS LIMITED	+0.68%	79.07M

Watches