KSH International Ltd (KSHINTL) — share price & stock analysis
Profits have nearly tripled in two years.
KSH International Ltd (KSHINTL) trades at ₹855 as of 1 July 2026. The machine reads this as steady growth: profits have nearly tripled in two years. the price is in Stage 2 — advancing, 19 weeks in; the business cycle reads STEADY / EXPANSION. Fundamentals-momentum score: 69/100 (mostly improving).
Data as of 1 July 2026 · every number traces to its Screener source column · not investment advice.
- Market cap
- ₹5,793 Cr
- P/E
- 52×
- ROE
- 20.1%
- Book value / share
- ₹119
- Revenue (FY26)
- ₹3,107 Cr
- Profit after tax (FY26)
- ₹110 Cr
- Weinstein stage
- Stage 2 (19 weeks)
- Data as of
- 1 July 2026
This is a steady business by its own record — profit dips never exceeded 7% across 6 years. The cycle matters less than execution here.net_profit
Where the clock stands now: earnings sit at 100% of their historical range, margins are near the top of their band, and valuation history is thin. That reads as EXPANSION — the comfortable middle — but the records are already on the table; from here the bet is that they keep coming.net_profit
3 of the 4 things we track are currently moving the right way — most of the dashboard is turning up.
Where the levels actually stand: ROCE 21% — a high-quality engine; debt moderate (0.4× equity); margins near the top of their band. Momentum says which way things are moving; these say where they are.
Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, sales and margins count double, and a quarter of the score comes from our earnings-recovery lens (is the profit cycle turning up off its trough?).
The price is in a confirmed uptrend — 19 weeks and counting
STAGE 2 · ADVANCING · 19 WEEKSStock prices move through four repeating stages: basing (1), advancing (2), topping (3) and declining (4). This one is in Stage 2: advancing, 19 weeks in, confirmed.stage
The price sits above its rising 200-day average (₹526 today) — trends like this persist more often than they reverse, which is why the system rides them instead of guessing the top.dma_200
What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200
Data: Weekly price, moving averages and stage
| Period | Price (₹) | 200-DMA (₹) | 50-DMA (₹) | Stage |
|---|---|---|---|---|
| Dec 25 | 343 | 355 | 354 | 4 |
| Jan 26 | 374 | 355 | 354 | 4 |
| Jan 26 | 352 | 356 | 357 | 4 |
| Jan 26 | 364 | 355 | 356 | 4 |
| Jan 26 | 349 | 355 | 355 | 1 |
| Feb 26 | 334 | 355 | 354 | 1 |
| Feb 26 | 378 | 355 | 355 | 1 |
| Feb 26 | 361 | 356 | 358 | 1 |
| Feb 26 | 365 | 356 | 359 | 1 |
| Feb 26 | 374 | 357 | 361 | 1 |
| Mar 26 | 371 | 357 | 362 | 1 |
| Mar 26 | 387 | 359 | 368 | 2 |
| Mar 26 | 434 | 362 | 377 | 2 |
| Mar 26 | 446 | 365 | 387 | 2 |
| Apr 26 | 448 | 368 | 394 | 2 |
| Apr 26 | 534 | 374 | 414 | 2 |
| Apr 26 | 590 | 381 | 435 | 2 |
| Apr 26 | 635 | 392 | 466 | 2 |
| Apr 26 | 662 | 403 | 496 | 2 |
| May 26 | 625 | 414 | 519 | 2 |
| May 26 | 635 | 424 | 539 | 2 |
| May 26 | 713 | 436 | 562 | 2 |
| May 26 | 793 | 449 | 592 | 2 |
| Jun 26 | 823 | 464 | 627 | 2 |
| Jun 26 | 820 | 467 | 634 | 2 |
| Jun 26 | 820 | 473 | 646 | 2 |
| Jun 26 | 826 | 477 | 653 | 2 |
| Jun 26 | 820 | 484 | 666 | 2 |
| Jun 26 | 862 | 495 | 688 | 2 |
| Jun 26 | 886 | 503 | 703 | 2 |
| Jun 26 | 833 | 513 | 720 | 2 |
| Jun 26 | 844 | 516 | 725 | 2 |
| Jul 26 | 855 | 526 | 740 | 2 |
4 of 5 years up since listing — good compounding, but a short book
Over 5 years, sales went from ₹470 Cr to ₹3,107 Cr (about 46% a year), and profit from ₹15.0 Cr to ₹110 Cr.revenuenet_profit
Margins held steady throughout (4.9–6.4%) — disciplined growth.operating_profit
Data: Revenue by year
| Period | Revenue (₹ Cr) |
|---|---|
| FY21 | 470 |
| FY22 | 871 |
| FY23 | 1,049 |
| FY24 | 1,383 |
| FY25 | 1,928 |
| FY26 | 3,107 |
Data: Profit by year
| Period | Profit after tax (₹ Cr) |
|---|---|
| FY21 | 15 |
| FY22 | 29 |
| FY23 | 27 |
| FY24 | 37 |
| FY25 | 68 |
| FY26 | 110 |
Data: OPM % by year
| Period | OPM % (%) |
|---|---|
| FY21 | 5.3 |
| FY22 | 5.9 |
| FY23 | 4.9 |
| FY24 | 5.2 |
| FY25 | 6.4 |
| FY26 | 6.2 |
Sales exploded 100% last quarter
Mar 26 sales were ₹1,018 Cr, up 100% on the same quarter last year.revenue
Data: Quarterly sales
| Period | Revenue (₹ Cr) | YoY growth (%) |
|---|---|---|
| Sep 24 | 472 | – |
| Dec 24 | 516 | – |
| Mar 25 | 508 | – |
| Jun 25 | 559 | – |
| Sep 25 | 712 | 50.8 |
| Dec 25 | 818 | 58.5 |
| Mar 26 | 1,018 | 100.4 |
Margins are holding steady
Of every ₹100 of sales, the company keeps ₹5.5 as operating profit (a year ago it kept ₹6.9).opm_pct
The gross margin moved the same way (11% → 10%), so this is about input costs and pricing power — the raw-material equation worsened.gpm_pctopm_pct
Data: Three margins, quarterly
| Period | Gross (%) | Operating (%) | Net (%) |
|---|---|---|---|
| Sep 24 | 10.6 | 5.6 | 2.7 |
| Dec 24 | 11.6 | 7.8 | 5.0 |
| Mar 25 | 10.9 | 6.9 | 3.6 |
| Jun 25 | 11.6 | 7.2 | 4.1 |
| Sep 25 | 10.6 | 6.5 | 4.2 |
| Dec 25 | 10.2 | 6.0 | 3.0 |
| Mar 26 | 9.5 | 5.5 | 3.4 |
Profit exploded 94% — mostly from selling more
Mar 26 profit after tax was ₹35.0 Cr, up 94% year on year.net_profit
A caution: a meaningful slice of this jump came from income outside the core business — that is lower-quality profit and may not repeat.other_income
Data: Quarterly profit after tax
| Period | PAT (₹ Cr) | YoY growth (%) |
|---|---|---|
| Sep 24 | 13.0 | – |
| Dec 24 | 26.0 | – |
| Mar 25 | 18.0 | – |
| Jun 25 | 23.0 | – |
| Sep 25 | 30.0 | 130.8 |
| Dec 25 | 23.0 | -11.5 |
| Mar 26 | 35.0 | 94.4 |
The single biggest driver was selling more.
Data: Where the profit change came from (Mar 25 → Mar 26)
| Component | Effect (₹ Cr) |
|---|---|
| PAT Mar 25 | 18 |
| More sales | +35 |
| Thinner margins | −14 |
| Other income | +7 |
| Depreciation | −5 |
| Interest | −5 |
| Tax | −2 |
| Everything else | +1 |
| PAT Mar 26 | 35 |
Profits on paper, cash lagging behind
Over the last 5 profitable years, the business reported ₹271 Cr of profit and collected ₹−74.0 Cr of operating cash — about -27% conversion.operating_cash_flownet_profit
The wrinkle is the latest year: FY26 collected ₹−65.0 Cr against ₹110 Cr of reported profit — about -59%. One year isn’t a trend, but it is the line to watch.operating_cash_flownet_profit
Data: Cash collected vs profit reported (annual)
| Period | Operating cash flow (₹ Cr) | Profit after tax (₹ Cr) |
|---|---|---|
| FY21 | 5.0 | 15.0 |
| FY22 | -44.0 | 29.0 |
| FY23 | 62.0 | 27.0 |
| FY24 | -17.0 | 37.0 |
| FY25 | -10.0 | 68.0 |
| FY26 | -65.0 | 110 |
The cash cycle is stable
One rupee now takes about 79 days to go out the door as materials and come back as collected cash.cash_conversion_cycle
The biggest mover: inventory sitting longer in the warehouse (45 → 56 days).inventory_days
Data: Days of cash locked up (annual)
| Period | Customers owe (debtor days) (days) | Stock on shelf (inventory days) (days) | We owe suppliers (payable days) (days) |
|---|---|---|---|
| FY21 | 87.0 | 36.0 | 29.0 |
| FY22 | 54.0 | 49.0 | 15.0 |
| FY23 | 38.0 | 43.0 | 6.0 |
| FY24 | 42.0 | 39.0 | 4.0 |
| FY25 | 42.0 | 45.0 | 6.0 |
| FY26 | 39.0 | 56.0 | 16.0 |
Building hard — new capacity is under construction
The productive asset base has gone from ₹87.0 Cr (FY21) to ₹313 Cr, with another ₹52.0 Cr of capacity under construction right now.fixed_assetscwip
Work-in-progress is 17% of the existing asset base — that is a serious bet on future demand. Capacity like this shows up in sales with a lag; it is tomorrow’s growth being paid for today.cwip
The build is bigger than the cash engine: investing outflows (₹336 Cr) exceeded operating cash (₹−92.0 Cr) over the last 3 years — the difference comes from debt or shareholders.investing_cash_flowoperating_cash_flow
Data: Assets in place vs under construction (annual)
| Period | Fixed assets (₹ Cr) | Under construction (CWIP) (₹ Cr) |
|---|---|---|
| FY21 | 87.0 | 1.0 |
| FY22 | 88.0 | 11.0 |
| FY23 | 107 | 9.0 |
| FY24 | 140 | 7.0 |
| FY25 | 133 | 108 |
| FY26 | 313 | 52.0 |
Debt is present but comfortable
For every ₹100 shareholders have put in (and left in), the company has borrowed ₹40 — total borrowings have grown from ₹86.0 Cr to ₹321 Cr over the window.borrowings
Data: Total borrowings (annual)
| Period | Borrowings (₹ Cr) |
|---|---|
| FY21 | 86.0 |
| FY22 | 146 |
| FY23 | 129 |
| FY24 | 214 |
| FY25 | 366 |
| FY26 | 321 |
Data: Debt vs shareholders’ money (annual)
| Period | Debt ÷ equity (x) |
|---|---|
| FY21 | 0.6 |
| FY22 | 0.9 |
| FY23 | 0.7 |
| FY24 | 0.9 |
| FY25 | 1.2 |
| FY26 | 0.4 |
Every ₹100 kept in the business earns ₹21 — a high-quality engine
Return on capital employed is 21.0% (a year ago: 21.0%). This is the single best test of business quality: what the company earns on the money it keeps.roce_pct
Data: Returns on capital (annual)
| Period | ROCE (%) |
|---|---|
| FY22 | 18.0 |
| FY23 | 16.0 |
| FY24 | 18.0 |
| FY25 | 21.0 |
| FY26 | 21.0 |
Worth studying deeper — with eyes open
The numbers lean positive, and the price is roughly fair to the delivery so far.
Best thing in the data: sales rising (₹508 Cr → ₹1,018 Cr).revenue
Biggest worry: cash generation falling (₹−10.0 Cr → ₹−65.0 Cr).operating_cash_flow
One dissent worth hearing: our valuation lens reads negative — “its fair-value math says the price sits about 29% above what the numbers justify”. When a lens disagrees with the committee, it is usually pointing at the thing that breaks first.
Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.
Straight answers from the data
What does KSH International Ltd do?
Incorporated in 1979, KSH International Limited is the third-largest manufacturer and the largest exporter of magnet winding wires in India.[1]. It is listed in the Electrical Equipments/HVDC sector with a market capitalisation of ₹5,793 Cr.
What is KSH International Ltd's share price?
As of 1 July 2026, KSH International Ltd trades at ₹855, with a market capitalisation of ₹5,793 Cr. Prices are weekly closes from Screener data; this page refreshes with each weekly update.
What is KSH International Ltd's share price target?
Sector Alpha does not publish broker-style price targets. Our discounted-cash-flow model estimates KSH International Ltd's intrinsic value at ₹750 per share under base assumptions (bear ₹271, bull ₹750), against the current price of ₹855 — a 11% premium to model value. These are model estimates, not forecasts — treat them as one input alongside the valuation history below, not as a target.
What did KSH International Ltd report in its latest quarterly results?
In its most recent reported quarter (Q4 FY26, quarter ended March 2026): Mar 26 sales were ₹1,018 Cr, up 100% on the same quarter last year. Mar 26 profit after tax was ₹35.0 Cr, up 94% year on year. Figures are from Screener-scraped quarterly filings; the page updates when the next quarter is filed.
Is KSH International Ltd growing?
Sales exploded 100% last quarter. Mar 26 sales were ₹1,018 Cr, up 100% on the same quarter last year.
Are KSH International Ltd's profits growing?
Profit exploded 94% — mostly from selling more. Mar 26 profit after tax was ₹35.0 Cr, up 94% year on year.
What are KSH International Ltd's operating margins?
Margins are holding steady. In the most recent quarter, of every ₹100 of sales, the company keeps ₹5.5 as operating profit (a year ago it kept ₹6.9).
What is KSH International Ltd's long-term growth record?
Revenue grew from ₹470 Cr in FY21 to ₹3,107 Cr in FY26 — a 45.9% compound annual growth rate over 5 years. Profit after tax compounded at 49.0% over the same period (₹15 Cr → ₹110 Cr).
Is KSH International Ltd stock in an uptrend?
The price is in a confirmed uptrend — 19 weeks and counting. KSH International Ltd is in Stage 2 — advancing, 19 weeks in (confirmed). Stages follow Stan Weinstein's four-phase read of weekly price against the 200-day average: basing (1), advancing (2), topping (3), declining (4).
Where is KSH International Ltd in its business cycle?
The data reads KSH International Ltd as a steady business currently in its expansion phase — earnings at an all-time high for this company. This is a steady business by its own record — profit dips never exceeded 7% across 6 years. The cycle matters less than execution here.
Does KSH International Ltd have too much debt?
Debt is present but comfortable. For every ₹100 shareholders have put in (and left in), the company has borrowed ₹40 — total borrowings have grown from ₹86.0 Cr to ₹321 Cr over the window.
What is the bull case for KSH International Ltd?
Profits have nearly tripled in two years. Best thing in the data: sales rising (₹508 Cr → ₹1,018 Cr). Sales exploded 100% last quarter.
What is the bear case for KSH International Ltd — what could break the story?
Biggest worry: cash generation falling (₹−10.0 Cr → ₹−65.0 Cr). Two quarters of sales reversing would kill this story. The nearest-term thing to watch: if quarterly growth slips below 50%, the story weakens. This falsification condition is stated up front so the thesis can be checked against incoming quarters, not defended after the fact.
Is KSH International Ltd a stock worth studying right now?
Sector Alpha does not publish buy or sell recommendations — this is a research read, not advice. What the data says: worth studying deeper — with eyes open. The numbers lean positive, and the price is roughly fair to the delivery so far. Across the 7-model scorecard the composite research signal is study deeper at 73% confidence. This is machine-written research compiled from Screener data — every number traces to its source — and it is not investment advice. Do your own diligence.