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Company Overview
1. Introduction:
- KL serves as the holding company for Kurl-on Enterprise Ltd (KEL).
2. Shareholding Structure:
- As of March 31, 2019, KL holds 85.06% shares in KEL.
3. Business Transfer Agreement (2011):
- A Business Transfer Agreement between KL and KEL in 2011 led to the transfer of several businesses to KEL, effective April 1, 2014. This included:
4. Headquarters and Operations:
- KEL is headquartered in Bengaluru and serves as the primary operating entity.
5. Corporate Status:
- Both KL and KEL are closely held, unlisted public limited companies.
6. Subsidiary of Kurl-on Enterprise:
- KEL owns Kurl-on Retail Ltd, a wholly-owned subsidiary.
Kurl-on Retail Ltd
1. Incorporation Details:
- Originally incorporated as Kurlon Mattress Private Limited on August 31, 2012.
- Commenced commercial operations in 2012.
- Renamed to Kurlon Retail Pvt Ltd on February 1, 2018.
- Renamed to Kurlon Retail Ltd on May 16, 2018.
2. Objectives:
- Engages in buying, selling, importing, exporting, transporting, storing, promoting, marketing, supplying, trading, and dealing in all types of goods, including mattresses, pillows, sofas, and furniture.
- Conducts retail and wholesale operations in India and elsewhere.
3. Product Portfolio:
- Mattresses: Rubberized Coir, Latex Foam, Polyurethane Foam, Spring Mattresses
- Pillows: Various types of pillows
- Furniture: Sofa, Home Furnishing, and other furniture items
- Home Comforts: Entire range of home comfort products
- Other Related Goods: Includes various related products like furnishing and accessories for home and bedding needs
Fundamentals
| Metric | Value | Metric | Value |
|---|---|---|---|
| Current Price | ₹ 625 | Market Cap (in Cr.) | ₹ 2284 |
| Debt to Equity | 0.04 | Face Value | ₹ 5 |
| Book Value | 128.43 | ROE (%) | 2.13 |
| P/B | 5 | P/E Ratio | 228.1 |
| PAN Number | AAECK5045N | EPS | 2.74 |
| ISIN | INE387W01025 | No. Of Shares (in Cr.) | 18.27 |
Promoters & Managements
| Metric | 2022 | 2023 |
|---|---|---|
| Revenue | 809 | 867 |
| Cost of Material Consumed | 452 | 471 |
| Gross Margins (%) | 43.14 | 45.17 |
| Change in Inventory | 4 | 16 |
| Employee Benefit Expenses | 74 | 70 |
| Other Expenses | 246 | 259 |
| EBITDA | 19 | 43 |
| OPM (%) | 2.39 | 5.01 |
| Other Income | 14 | 8 |
| Finance Cost | 6 | 7 |
| D&A | 36 | 36 |
| EBIT | -17 | 7 |
| EBIT Margins (%) | -2.14 | 0.81 |
| PBT | -9 | 8 |
| PBT Margins (%) | -1.13 | 0.93 |
| Tax | -3 | -2 |
| PAT | -6 | 10 |
| NPM (%) | -0.75 | 1.16 |
| EPS (Diluted) | -1.64 | 2.74 |
| Metric | 2022 | 2023 |
|---|---|---|
| Fixed Assets | 211 | 189 |
| CWIP | 4 | 1 |
| Investments | 107 | 16 |
| Trade Receivables | 56 | 55 |
| Inventory | 120 | 80 |
| Other Assets | 225 | 416 |
| Total Assets | 723 | 757 |
| Liabilities | 2022 | 2023 |
|---|---|---|
| Share Capital | 18.27 | 18.27 |
| FV | 5 | 5 |
| Reserves | 443 | 451 |
| Borrowings | 7.5 | 17 |
| Trade Payables | 120 | 113 |
| Other Liabilities | 134.23 | 157.73 |
| Total Liabilities | 723 | 757 |
| Metric | 2022 | 2023 |
|---|---|---|
| PBT | -9 | 8 |
| OPBWC | 33 | 57 |
| Change in Receivables | -7 | 0 |
| Change in Inventories | -3 | 40 |
| Change in Payables | 32 | -7 |
| Other Changes | 8 | -219 |
| Working Capital Change | 30 | -186 |
| Cash Generated From Operations | 63 | -129 |
| Tax | -15 | -8 |
| Cash Flow From Operations | 48 | -137 |
| Purchase of PPE | -23 | -6 |
| Sale of PPE | 1 | 13 |
| Cash Flow From Investment | -13 | 141 |
| Borrowing | -5 | 10 |
| Dividend | -18 | -2 |
| Equity | 0 | 0 |
| Others From Financing | -13 | -13 |
| Cash Flow From Financing | -36 | -5 |
| Net Cash Generated | -1 | -1 |
| Cash at the Start | 6 | 5 |
| Cash at the End | 5 | 4 |
Share Holding Pattern
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