Kiran Print-Pack Limited

Industrials — Specialty Business Services · BSE

₹21.55₹0.00 (0.00%)

DalalBaazaar Score

47 / 100

🟡 Moderate

Verdict

CAUTION

Risk

High

Driven by negative free cash flow, micro-cap size, which brings thin liquidity, a very high earnings multiple, which leaves little margin for disappointment.

In simple words: The business is earning a fairly low return on the money invested in it, with modest growth. Cash generation is currently the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 6:07 pm

Caution warranted. Multiple fundamental metrics — flagged in red below — point to either valuation stretch, leverage risk, or weakening profitability. This doesn't mean avoid the stock outright, but it does mean the burden of proof is on the growth story to justify the current price.

Understanding the Business

Company site ↗

The 60-second version of Kiran Print-Pack Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Kiran Print-Pack Limited engages in trading business in India. It is also involved in the printing and packaging activities. The company offers laminates and labels. It serves packaging and other laminated tube manufacturing companies.

IndustrySpecialty Business Services

SectorIndustrials

Annual revenue₹1 Cr

How does it make money?

Turns over ₹1 Cr a year. Of every ₹100 of sales, about ₹14 reaches shareholders as profit, with ₹16 left at the operating level before interest, tax and depreciation.

EBITDA margin16.2%

Net margin14.1%

Who are its competitors?

The closest listed comparisons in its industry are LARSEN & TOUBRO LTD., SIEMENS LTD, ABB INDIA LIMITED. These are the companies its valuation and returns are measured against elsewhere in this report.

LARSEN & TOUBRO LTD.P/E 30.1x · ROE 15.2%

SIEMENS LTDP/E 88.8x · ROE 10.5%

ABB INDIA LIMITEDP/E 92.6x · ROE 19.1%

What is its competitive advantage?Little sign of one

Returns on capital of 4.5% are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

ROCE4.5%

ROE4.2%

Peer median ROE15.2%

What has been driving growth?

Profit has moved mainly because margins changed, not because the business sold much more. Over 3 years revenue moved -3% while net margin moved -165% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect-3%

Margin effect-165%

DalalBaazaar Score

47/ 100

Moderate

Weighted across six categories. Every point is explained below.

✗ Revenue has contracted at 1.0% a year

Quality vs. Valuation

Company Quality

47/ 100

Average

How good the business is, ignoring the share price entirely.

Valuation

54/ 100

Fair

What you are being asked to pay, ignoring how good the business is.

A reasonable business at a reasonable price — neither the quality nor the valuation stands out in either direction.

Historical Valuation

Current P/E

89.8x

2Y Median

250.7x

28 monthly readings · mean 299.4x · range 86.2x–634.7x

Sector Median

88.8x

median of 3 sector peers

🟢Current valuation is approximately 64% below its 2y median of 250.7x. Cheaper than its own history, which is worth a reason too: the market may be pricing in something the backward-looking numbers do not show.

🟡Against its sector it is priced broadly in line with the peer median of 88.8x.

vs. its own history

Cheap

250.7x median over 28 months · -64%

vs. sector peers

Fair

88.8x median of 3 peers · +1%

vs. generic bands

Expensive

Above 35x

P/E (Trailing)

89.8x

P/B

3.64x

EV/EBITDA

75.3x

PEG

—

Dividend Yield

None

What's Good / What's Bad

🟢 What's Going Well4

Margins are improving
EBITDA margin is up from -14.2% to 16.2% over 3 years.
Return on equity is rising
ROE has improved from -7.1% to 4.2%.
Return on capital is rising
ROCE has improved from -6.6% to 4.5%.
Valuation below its historical average
At 89.8x the stock trades 64% below its own median of 250.7x.

🔴 What Needs Attention1

Free cash flow is negative
The business is not currently covering its capital spending from operations.

Red Flags

2 items require attention · 2 high

🔴Free cash flow negative for 4 yearsFinancial
The business has not covered its capital spending from operations for several years running, which has to be funded externally.
🔴Profit up while operating cash flow fallsFinancial
Reported profit rose but cash generated by operations declined — worth checking whether earnings are being supported by non-cash items or working capital.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Margin expansion has further to run
EBITDA margin has risen from -14.2% to 16.2%. If that holds, profit compounds faster than sales and today's multiple looks cheaper in hindsight than it does now.
Priced below its own history
The stock trades 64% below its own median multiple. If the business performs as it has and simply re-rates back to normal, that gap is return on its own.

🔴 Bear CaseWhat could go wrong?

Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.
Several serious flags at once
2 high-severity checks triggered. Individually each has an explanation; together they raise the chance that something structural is wrong rather than a one-off.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1EBITDA margin holds above 14%✓ 16.2%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Free cash flow remains positive✗ -₹0 Cr
Profit that never becomes cash eventually stops being profit.
3ROCE stays above 8%✗ 4.5%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.
4Valuation vs its own median of 250.7x✓ 89.8x today
A re-rating above its own history needs a reason; without one it is just a higher price.

Investment Checklist

4 / 10 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✓ Healthy net margin (≥ 10%)
✗ Generates positive free cash flow
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✓ Revenue growing year-over-year
✗ Profit growing year-over-year
✗ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✗ Short-term technical trend isn't bearish

Price history

Quick Metrics

2 good · 5 neutral · 4 weak

Market Cap

₹11 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

89.8x

Expensive

Expensive — verify against sector peers

P/B Ratio

3.64x

Fair

Moderate premium to the company's book value

EPS (TTM)

₹0.24

Profitable

Profitable on a per-share basis

ROE

4.2%

Weak

Weak capital efficiency

ROCE

4.5%

Weak

Low return on total capital employed

Debt/Equity

Not available

No data

Source didn't return this field

Revenue Growth (YoY)

45.8%

Healthy

Healthy top-line growth

Profit Growth (YoY)

0.0%

Modest

Slow profit growth

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

-₹0 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

CMP

₹21.55

Operating Margin

6.8%

Average

Average margins

Net Margin

12.5%

Good

Strong bottom-line conversion

Current Ratio

1.26

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

-0.76

Defensive

Steadier than the market

52W Range Position

Near low

Near its 52-week low

Technical Snapshot

SMA 20 / SMA 50

24.8 / 27.4

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

20.9

Oversold zone

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹1 Cr	₹1 Cr	₹1 Cr	₹1 Cr	-1.0%
EBITDA	-₹0 Cr	-₹0 Cr	₹0 Cr	₹0 Cr	—
EBITDA Margin	-14.2%	-29.7%	11.0%	16.2%	—
PAT (Net Profit)	-₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	—
EPS	₹-0.39	₹0.07	₹0.12	₹0.25	—
ROE	-7.1%	1.2%	2.1%	4.2%	—
ROCE	-6.6%	2.1%	3.0%	4.5%	—
Free Cash Flow	-₹0 Cr	-₹3 Cr	-₹0 Cr	-₹0 Cr	—

🟡 Revenue has been broadly flat over 3 years (-1.0% a year).

🟢 EBITDA has turned positive, from -₹0 Cr to ₹0 Cr.

🟢 EBITDA Margin has risen from -14.2% to 16.2% over 3 years (+30.5 pts).

🟢 PAT (Net Profit) has turned positive, from -₹0 Cr to ₹0 Cr.

🟢 EPS has turned positive, from ₹-0.39 to ₹0.25.

🟢 ROE has risen from -7.1% to 4.2% over 3 years (+11.2 pts).

🟢 ROCE has risen from -6.6% to 4.5% over 3 years (+11.1 pts).

Balance Sheet & Cash Flow — FY2026

Total Assets

₹3 Cr

Total Liabilities

₹0 Cr

Total Debt

—

Cash & Equivalents

₹0 Cr

Operating Cash Flow

-₹0 Cr

Capex

—

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

74.5%

Peer Comparison

Company	P/E	ROE
LARSEN & TOUBRO LTD.	30.1x	15.2%
SIEMENS LTD	88.8x	10.5%
ABB INDIA LIMITED	92.6x	19.1%

Recent News

1 mixed5 general

KIRAN PRINT-PACK LTD. Share Price

Upstox, 05 May

Kiran Print-Pack Ltd. Key Financial Ratios – Valuation, Profitability & More

Value Research, 03 Sept

Kiran Print-Pack Ltd. Peer Comparison – Compare with Others

Value Research, 30 Aug

Kiran Print Pack AGM seeks ₹8.5 crore land sale; FY26 profit doubles

scanx.trade, 01 Sept

Sharanam Infraproject and Trading (BSE:539584) - Stock Analysis

Simply Wall Street, 22 Aug

Kiran Print Pack Limited Files Q4 FY26 Compliance Certificate Under SEBI Regulations

scanx.trade, 10 AprResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

Watch Items

Trading very close to its 52-week low — worth checking whether this reflects a temporary setback or a structural problem.
Cross-check against the company's latest quarterly filing / investor presentation before acting.
1 metric couldn't be retrieved for this stock — this is more common for smaller or thinly-covered listings.
RSI is in oversold territory — could mean either a bargain or a stock still falling for good reason. Check the 'why' before assuming reversal.

DalalBaazaar Thesis

🟡Business QualityAdequate11.7/20

🟡Financial HealthAdequate11.5/20

🔴GrowthWeak2.4/20

🟡ProfitabilityModerate9.4/15

🟡ValuationFair8.3/15

🔴RiskHigh4/10

Unremarkable in both directions

A reasonable business at a reasonable price. Nothing here is alarming and nothing is compelling, which usually means the decision rests on things this data cannot see — the industry's direction, management's intent, and what else is available to you. 2 high-severity red flags sit above this conclusion and should be read first.

This thesis breaks if

✓EBITDA margin holds above 14%16.2%
✗Free cash flow remains positive-₹0 Cr
✗ROCE stays above 8%4.5%
✓Valuation vs its own median of 250.7x89.8x today