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KIOCL Limited (KIOCL) Fair Value & Analysis

Basic Materials · IN · Market cap ₹234B

KL KIOCL Limited KIOCL · BSE
Price₹384.95
Fair Value₹443.15
Upside+15.1%
Quality63/100

Strengths

Trades 15% below our fair value of ₹443.15
Low debt · generates free cash flow

Risks

!Weak Growth
!Thin margins · 2.7% net margin
!Narrow moat 23/100
Weak Growth
Thin margins · 2.7% net margin
Low debt · generates free cash flow
Narrow moat 23/100
Evidence: High Range ₹333.08 – ₹554.18 Share as image

Fair value as of: Aug 21, 2026

From 16 valuation models · updated today

Share price +4.5% over the past month.

A solid business, screening 15% undervalued on our models.

What matters now

  • Our model range runs from ₹333.08 (bear) to ₹554.18 (bull), base ₹443.15. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 63/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

₹625.00 ₹152.73 Fair Value ₹443.15 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.

How to read this chart

60‑month range ₹152.73 – ₹625.00 · fair‑value band ₹333.08 – ₹554.18 · the ₹384.95 price screens below the ₹443.15 fair value. Dashed = 300-day average. As of Aug 21, 2026.

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Analysis

KIOCL Limited (KIOCL) currently trades at ₹384.95, while our model-based Fair Value estimate is ₹443.15, implying the stock looks roughly 15.1% undervalued today. The Quality Score stands at 63/100 (solid quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, KIOCL Limited generated revenue of ₹6.1B at a net margin of 2.7%. Revenue declined 10.6% year over year. It earns a return on equity of 1.0%. Net debt stands at ₹611M. Fundamentals as of Aug 21, 2026

Our scenario range runs from ₹333.08 (bear case) to ₹554.18 (bull case); at ₹384.95, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 39% below its 52-week high and 32% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -22% fair-value upside, at 15%, KIOCL screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹1,024 ₹1,381 ₹2,018 80
Residual Income ₹1,894 ₹1,765 ₹1,313 76
Rev-Margin DCF ₹879.60 ₹1,245 ₹1,694 74
All 16 models by family
DCF Models
FCF DCF ₹980.10 ₹1,345 ₹2,047 38
Owner Earnings ₹604.90 ₹811.64 ₹1,209 31
5Y Revenue Exit ₹879.60 ₹1,226 ₹1,729 39
5Y P/E Exit ₹616.39 ₹769.53 ₹955.21 38
10Y Revenue Exit ₹889.17 ₹1,155 ₹1,441 36
10Y P/E Exit ₹746.56 ₹867.16 ₹976.27 35
Earnings-Based
Graham-Dodd ₹177.07 ₹217.27 ₹244.07 54
Multiples
P/E Multiple ₹333.08 ₹443.15 ₹554.18 63
P/S Multiple ₹333.08 ₹443.15 ₹554.18 58
P/B Multiple ₹333.08 ₹443.15 ₹554.18 55
EV/Revenue ₹885.34 ₹1,214 ₹1,543 43
Asset-Based
NCAV (Graham) ₹1,367 ₹1,832 ₹2,735 50
Growth DCF
Growth DCF ₹1,024 ₹1,381 ₹2,018 80
Rev-Margin DCF ₹879.60 ₹1,245 ₹1,694 74
Economic Profit
Residual Income ₹1,894 ₹1,765 ₹1,313 76
Growth Earnings
Growth-Adj P/E ₹237.37 ₹338.82 ₹440.28 68

Widest divergence: Asset-Based (₹1,832) versus Earnings-Based (₹217.27). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹6.1B
Revenue growth (YoY) -10.6%
Net margin 2.7%
Return on equity 1.0%
Free cash flow ₹535M FY2025
P/E ratio 601.5
More key figures
Operating margin 10.1%
EPS (TTM) ₹0.6400
EPS growth (YoY) -57.6%
Net debt ₹611M FY2023

Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 63 · Market factors (momentum, volatility) 39

Profitability 21
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 54
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 26
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

KIOCL Limited engages in the iron ore mining, beneficiation, and production of pellets in India and internationally. It operates through two segments: Pellet and Pig Iron. The company produces and sells iron ore pellets and pig iron. It also offers operation and maintenance services, as well as mineral exploration services.

Full company description

KIOCL Limited engages in the iron ore mining, beneficiation, and production of pellets in India and internationally. It operates through two segments: Pellet and Pig Iron. The company produces and sells iron ore pellets and pig iron. It also offers operation and maintenance services, as well as mineral exploration services. The company was formerly known as Kudremukh Iron Ore Company Limited. KIOCL Limited was incorporated in 1976 and is headquartered in Bengaluru, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

KIOCL Limited reported revenue of ₹6.1B in FY2025 versus ₹30.1B in FY2021, a compound −32.9%/yr. Reported net income was ₹166M in FY2025, compounding −52.0%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
₹6.1B
Latest YoY
+3.5%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−26.6%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−23.8%
Avg. growth/yr (9Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−4.5%
Revenue −32.9%/yr
FY21 ₹30.1B
FY22 ₹15.4B
FY23 ₹18.5B
FY24 ₹5.9B
FY25 ₹6.1B
Net income −52.0%/yr
FY21 ₹3.1B
FY22 −₹977M
FY23 −₹833M
FY24 −₹2.0B
FY25 ₹166M

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Cite: Fair Value Calculator (2026). "KIOCL Limited Fair Value". https://www.fairvalue-calculator.com/stock/KIOCL

Peer Group

Steel · 385 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 63 · Top 25%
Fair Value upside +15% · Above median
Return on equity (TTM) 1% · Below median
Return on assets -2% · Bottom 25%
Net margin (TTM) 3% · Above median
Operating margin (TTM) 10% · Top 25%
Revenue growth -11% · Below median

Valuation Multiples vs Steel median · lower = cheaper

P/E (TTM) 601.5× · Pricier than 75% of peers
P/B 13.47× · Pricier than 75% of peers
P/S (TTM) 38.14× · Pricier than 75% of peers
P/FCF 4.5× · Pricier than 75% of peers

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Steel stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).

Stock Price Fair Value vs Fair Value
JSW Steel Limited JSWSTEEL ₹1,296 ₹1,119 -14%
Tata Steel Limited TATASTEEL ₹186.20 ₹145.39 -22%
POSCO Holdings 005490 325,000 KRW 155,270 KRW -52%
Companhia Siderúrgica Nacional, SID 13,670 ARS 15,838 ARS +16%
Jindal Steel & Power Limited JINDALSTEL ₹1,114 ₹429.44 -61%
Lloyds Metals and Energy Limited LLOYDSME ₹1,891 ₹793.69 -58%
Gerdau S.A GGBN 83.50 MXN 39.22 MXN -53%
Ternium S.A TXR 17,780 ARS 27,472 ARS +55%
NMDC Limited NMDC ₹85.00 ₹112.98 +33%
Jindal Stainless Limited JSL ₹735.40 ₹552.30 -25%

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Frequently asked questions

Is KIOCL Limited (KIOCL) overvalued or undervalued?
As of Aug 21, 2026, our model estimates a fair value of ₹443.15 versus a price of ₹384.95, about +15% (undervalued).
What is the fair value of KIOCL?
Our model-based fair value for KIOCL Limited is ₹443.15 (as of Aug 21, 2026), built from audited fundamentals. The current price: ₹384.95.
What is the quality score of KIOCL?
KIOCL Limited has a Quality Score of 63/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of KIOCL Limited (KIOCL)?
KIOCL Limited reported trailing-twelve-month revenue of about ₹6.1B (latest available figure, as of Aug 21, 2026).
What is the net profit margin of KIOCL?
The net profit margin of KIOCL Limited is about 2.7%, meaning it keeps roughly 2.7% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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