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Kiri Industries Limited (KIRIINDUS) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Kiri Industries Limited ₹467, price ₹544, upside -14.2%, quality 46 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? No
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Broad data
Sep 24, 2026
Kiri Industries Limited
KIRIINDUS · BSEWeak valuationQuality is weak on top of the rich price.
!Fair value ₹466.79 · Overvalued (−14.2%)
!Quality 46/100
!Weak Growth (revenue 5y −2.3 %/yr)
✓Low debt · generates free cash flow
!Moderate moat 48/100
What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range ₹259.85 – ₹727.00 · fair‑value band ₹368.60 – ₹630.24 · the ₹543.90 price screens above the ₹466.79 fair value. Dashed = 300-day average. As of Sep 24, 2026.
Company profile
Kiri Industries Limited manufactures and sells dyes, dye intermediates, and basic chemicals in India and internationally. The company provides reactive dyes, acid dyes, direct dyes, and disperse dyes; and basic chemicals comprising sulphuric acid, chloro sulhponic acid, oleum, spent sulphuric acid, and thionyl chloride.
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Kiri Industries Limited manufactures and sells dyes, dye intermediates, and basic chemicals in India and internationally. The company provides reactive dyes, acid dyes, direct dyes, and disperse dyes; and basic chemicals comprising sulphuric acid, chloro sulhponic acid, oleum, spent sulphuric acid, and thionyl chloride. It also offers dye intermediates, such as sulpho J.acid, sulpho tobias acid, sulpho gama acid, and para nitro toluene ortho sulfonic acid, vinyl sulphone, as well as H-Acid, naphthalene, and aniline based intermediates. The company's products are used in various industrial sectors comprising textile, paper, apparel, hosiery, automotive, carpets, leather, home upholstery, industrial fabrics, etc. It also exports its products. The company was formerly known as Kiri Dyes and Chemicals Limited and changed its name to Kiri Industries Limited in March 2011. Kiri Industries Limited was incorporated in 1998 and is based in Ahmedabad, India.
Stock analysis
Kiri Industries Limited (KIRIINDUS) currently trades at ₹543.90, while our model-based Fair Value estimate is ₹466.79, 14.2% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of ₹2,890 per share, and 13 of the 15 models we run sit above the ₹543.90 price.
Bear case: the Multiples group reads lowest at ₹277.24, and 2 of the 15 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹368.60 (bear) to ₹630.24 (bull), the price of ₹543.90 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 46/100 (below-average quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Kiri Industries Limited reported revenue of ₹8.4B in FY2026 versus ₹14.7B in FY2022, a compound −13.1%/yr. Reported net income was ₹55.7B in FY2026, compounding +94.5%/yr from FY2022.
Key figures
Market cap ₹32.6B (≈ $339M) · P/E ratio 0.6 · P/S ratio 3.82 · EPS (TTM) ₹944.06 · Dividend yield 0.1% · Net margin 616% · Return on equity 115% · Return on assets (EBIT) −1.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 25% below its 52-week high and 61% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −39% fair-value upside, at −14%, KIRIINDUS screens cheaper than that median.
Fair Value models
Bear ₹368.60
Fair Value ₹466.79
Bull ₹630.24
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹481.08 per share) are deliberately not added.
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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.
Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF
₹5,619
₹7,263
₹10,069
81
Growth DCF
₹5,793
₹7,355
₹9,811
80
Owner Earnings
₹6,944
₹8,982
₹12,459
77
All 15 models by family
DCF Models
FCF DCF
₹5,619
₹7,263
₹10,069
81
Owner Earnings
₹6,944
₹8,982
₹12,459
77
5Y Revenue Exit
₹2,575
₹2,783
₹3,076
74
5Y P/E Exit
₹7,761
₹11,720
₹16,470
71
10Y Revenue Exit
₹3,887
₹4,172
₹4,396
68
10Y P/E Exit
₹6,773
₹9,271
₹11,682
65
Earnings-Based
Graham-Dodd
₹5,808
₹7,483
₹8,548
67
Multiples
P/E Multiple
₹10,891
₹14,521
₹18,151
63
P/S Multiple
₹144.95
₹193.27
₹241.58
58
P/B Multiple
₹2,222
₹2,963
₹3,704
55
EV/Revenue
₹219.26
₹277.24
₹335.22
54
Asset-Based
NCAV (Graham)
₹493.83
₹661.73
₹987.66
54
Growth DCF
Growth DCF
₹5,793
₹7,355
₹9,811
80
Economic Profit
Residual Income
₹2,557
₹2,890
₹4,265
70
Growth Earnings
Growth-Adj P/E
₹7,759
₹11,084
₹14,409
67
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Set up alert →Quality Score breakdown
Overall quality
46/100
Of which business quality 53 · Market factors (momentum, volatility) 59
Profitability
61
Margins and returns on capital today
Quality Growth
39
Are margins and returns improving?
Cashflow
80
Earnings quality: real cash, not paper profit
Fin. Strength
82
Balance sheet, leverage, solvency risk
Investment
0
Disciplined investing over empire-building
Low Volatility
61
Calm price path (market factor)
Momentum
70
Price trend over the last 3–12 months (market factor)
52W Momentum
38
Distance to the 52-week high (market factor)
Net Issuance
16
Share count: buybacks or dilution?
Revenue & earnings trend
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.
40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+13.5%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−3.9%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−2.3%
Start year 2021 (pandemic)
Revenue growth 7 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−6.6%
’19
’20
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’25
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What shareholders gained per year (last 5 years), in INR (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+48.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+48.4%
Dividend (yield on the price)0.1%
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.4% → −32%
2026 sits 2,792% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
⚠ Revenue per share shrinking 18.7%/yr over ~5Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
KIRIINDUS screens overvalued: fair value 14% below the price. Compare with Linde plc →
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Peer Groupⓘ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.Specialty Chemicals · 701 stocks
Beats the industry median on 7/11 measures
Overall it ranks above its industry peers.
Valuation Multiplesvs Specialty Chemicals median · lower = cheaper
Context: sector, industry, market
- Is the Materials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Indian Stocks
- Valuation of the India market
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 Specialty Chemicals stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Linde plc LIN | $474.65 | $441.72 | −7% |
| The Sherwin-Williams Company SHW | $330.44 | $151.68 | −54% |
| Ecolab Inc ECL | $274.58 | $96.56 | −65% |
| Air Products and Chemicals, Inc APD | $279.19 | $121.30 | −57% |
| Nan Ya Plastics Corporation 1303 | 238.00 TWD | 234.23 TWD | −2% |
| Givaudan SA GIVN | CHF 3,360 | CHF 1,527 | −55% |
| Wanhua Chemical Group 600309 | ¥69.45 | ¥68.03 | −2% |
| DSM-Firmenich AG DSFIR | CHF 92.30 | CHF 29.70 | −68% |
| Asian Paints Limited ASIANPAINT | ₹2,444 | ₹1,479 | −39% |
| PPG Industries, Inc PPG | $104.67 | $76.98 | −26% |
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Frequently asked questions
Is Kiri Industries Limited (KIRIINDUS) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ₹466.79 versus a price of ₹543.90, about −14% upside (overvalued).
What is the fair value of KIRIINDUS?
Our model-based fair value for Kiri Industries Limited is ₹466.79 (as of Sep 24, 2026), built from audited fundamentals. The current price: ₹543.90.
What is the quality score of KIRIINDUS?
Kiri Industries Limited has a Quality Score of 46/100. 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 price target for Kiri Industries Limited (KIRIINDUS)?
Our model-based price target is the fair value of ₹466.79 (as of Sep 24, 2026) from 15 valuation models. Cautious scenario ₹368.60, optimistic scenario ₹630.24. It is a calculation from audited fundamentals, not an analyst target.
What is the Kiri Industries Limited stock forecast for 2026?
Our models put fair value at ₹466.79, about −14% upside versus a price of ₹543.90 (overvalued). Cautious scenario ₹368.60, optimistic scenario ₹630.24. The calculation is refreshed regularly with new filings.
What is the revenue of Kiri Industries Limited (KIRIINDUS)?
Kiri Industries Limited reported trailing-twelve-month revenue of about ₹9.5B (latest available figure, as of Sep 24, 2026).
Does Kiri Industries Limited pay a dividend?
Kiri Industries Limited currently shows a dividend yield of about 0.06% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Kiri Industries Limited (KIRIINDUS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kiri Industries Limited it is ₹466.79 per share (as of Sep 24, 2026), against a price of ₹543.90. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Kiri Industries Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, KIRIINDUS trades above its calculated fair value: price ₹543.90, fair value ₹466.79, a gap of about −14% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of KIRIINDUS?
No. The price is what the market pays today (₹543.90); the fair value is what the company's own numbers justify (₹466.79). For Kiri Industries Limited the two are ₹77.11 per share apart. That gap is exactly why we show both numbers side by side.
How much is Kiri Industries Limited worth?
The market values Kiri Industries Limited at about ₹32.6B (market capitalisation, as of Sep 24, 2026). Per share that is ₹543.90; our models calculate a fair value of ₹466.79 per share.
What do the bullish and bearish scenarios say about KIRIINDUS?
Our models span a range for Kiri Industries Limited: cautious scenario ₹368.60, base ₹466.79, optimistic ₹630.24 per share (as of Sep 24, 2026, price ₹543.90). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KIRIINDUS?
Kiri Industries Limited trades at a price-to-earnings ratio of 0.6 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹466.79 is built from several models across several years. Other multiples: P/S 0.0.
How solid is the balance sheet of Kiri Industries Limited (KIRIINDUS)?
Balance-sheet figures for Kiri Industries Limited (as of Sep 24, 2026): return on equity 114.9%, debt of 0.00 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is KIRIINDUS from its 52-week high?
Kiri Industries Limited trades at ₹543.90, about 25% below its 52-week high of ₹725.90 and 61% above the low of ₹336.80 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹466.79 is for.
Which stocks are comparable to Kiri Industries Limited?
From the same area (Basic Materials) we also value Linde plc, The Sherwin-Williams Company, Ecolab Inc, Air Products and Chemicals, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Kiri Industries Limited stock attractive at the current price?
The data as of Sep 24, 2026: price ₹543.90, calculated fair value ₹466.79 (−14%), Quality Score 46/100, from 15 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of KIRIINDUS calculated?
We run Kiri Industries Limited through 15 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹466.79, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Kiri Industries Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Kiri Industries Limited (KIRIINDUS)?
The closing price on Oct 1, 2026 was ₹543.90. Our model-based fair value is ₹466.79, about −14% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kiri Industries Limited right now?
Solid but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder. The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Kiri Industries Limited
How large is the market capitalisation of Kiri Industries Limited (KIRIINDUS)?
The market capitalisation of Kiri Industries Limited is ₹32.6B (≈ $339M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Kiri Industries Limited (KIRIINDUS)?
The price-to-sales ratio of Kiri Industries Limited is 3.82 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Kiri Industries Limited (KIRIINDUS)?
Earnings per share at Kiri Industries Limited are ₹944.06 (price ÷ EPS = P/E 0.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Kiri Industries Limited (KIRIINDUS)?
The dividend yield of Kiri Industries Limited is 0.1% (payout 0.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Kiri Industries Limited (KIRIINDUS)?
The net margin of Kiri Industries Limited is 616% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Kiri Industries Limited (KIRIINDUS)?
The return on equity (ROE) of Kiri Industries Limited is 115% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Kiri Industries Limited (KIRIINDUS)?
On an EBIT basis the return on assets of Kiri Industries Limited is −1.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Kiri Industries Limited (KIRIINDUS)?
The operating margin of Kiri Industries Limited is 1.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kiri Industries Limited (KIRIINDUS)?
Revenue at Kiri Industries Limited is growing +54.5% versus a year earlier (3y avg −3.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Kiri Industries Limited (KIRIINDUS)?
Earnings per share at Kiri Industries Limited are growing +24.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Kiri Industries Limited (KIRIINDUS) generate?
The free cash flow of Kiri Industries Limited is ₹42.7B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Kiri Industries Limited (KIRIINDUS) carry?
The net debt of Kiri Industries Limited is ₹11.1B (fiscal year 2025, ≈ 0.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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