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Kanani Industries Limited
(KANANIIND)
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Rating:61Neutral
Price Target:
₹2.00
▲(36.99% Upside)
Action:Reiterated
Date:10/17/26
The score is driven primarily by mixed financial performance: a strong, low-leverage balance sheet offsets weakening fundamentals (multi-year sales decline), thin margins, and inconsistent cash generation. Technicals are neutral-to-slightly positive short term but not yet supportive of a sustained uptrend, while valuation appears modest based on the P/E.
Positive Factors
Low Financial Leverage
Very low leverage and substantial equity relative to assets reduce financial risk and give Kanani greater resilience during weaker trading conditions. This conservative financing structure can preserve flexibility to fund operations and manage inventory without relying heavily on debt.
Negative Factors
Persistent Sales Decline
A multi-year decline in sales is a durable pressure on the business because it signals weakening revenue momentum rather than a single-period setback. Continued contraction can reduce operating scale, limit reinvestment, and make it harder to improve earnings sustainably.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Financial Leverage
Very low leverage and substantial equity relative to assets reduce financial risk and give Kanani greater resilience during weaker trading conditions. This conservative financing structure can preserve flexibility to fund operations and manage inventory without relying heavily on debt.
Read all positive factors
Kanani Industries Limited (KANANIIND) vs. iShares MSCI India ETF (INDA)
Market Cap
₹310.65M
Dividend YieldN/A
Average Volume (3M)39.48K
Price to Earnings (P/E)13.5
Beta (1Y)1.04
Revenue Growth-16.83%
EPS Growth181.23%
CountryIN
Employees4
SectorGeneral
Sector StrengthN/A
IndustryLuxury Goods
Share Statistics
EPS (TTM)0.12
Shares Outstanding197,868,000
10 Day Avg. Volume67,379
30 Day Avg. Volume39,485
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)0.30
Price to Sales (P/S)0.12
P/FCF Ratio113.23
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Kanani Industries Limited Business Overview & Revenue Model
Company Description
Mumbai-headquartered Kanani Industries Limited is engaged in the manufacturing and international sale of diamond-set jewelry. Established in 1983, the entity was initially known as IMP Finance Limited before rebranding as Kanani Industries Limited...
How the Company Makes Money
Kanani Industries Limited makes money primarily by selling diamond and diamond jewellery products. Its revenue model typically consists of (1) trading and distribution—buying polished/rough diamonds or finished jewellery and selling them to wholes...
Kanani Industries Limited Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
78
Positive
Cash Flow
46
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.54B | 1.74B | 1.68B | 2.23B | 2.70B | 2.91B |
| Gross Profit | 25.91M | 24.89M | 8.52M | 35.45M | 70.96M | 56.25M |
| EBITDA | 20.04M | 26.62M | 8.31M | 14.95M | 31.71M | 29.54M |
| Net Income | 22.54M | 25.76M | 7.79M | 6.17M | 21.73M | 18.05M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 1.04B | 929.56M | 949.11M | 1.31B | 1.41B |
| Cash, Cash Equivalents and Short-Term Investments | 15.62M | 15.62M | 9.46M | 11.64M | 80.63M | 45.84M |
| Total Debt | 0.00 | 4.80M | 490.00K | 59.50M | 313.57M | 244.83M |
| Total Liabilities | -693.99M | 348.60M | 281.08M | 316.52M | 678.50M | 822.01M |
| Stockholders Equity | 693.99M | 693.99M | 648.48M | 632.59M | 626.64M | 588.03M |
Cash Flow | ||||||
| Free Cash Flow | -9.78M | 1.85M | 0.00 | 191.88M | -19.56M | -18.80M |
| Operating Cash Flow | -9.78M | 1.85M | 56.36M | 191.88M | -19.56M | -17.73M |
| Investing Cash Flow | 0.00 | 0.00 | 463.00K | 1.11M | -1.67M | -1.07M |
| Financing Cash Flow | 2.75M | 4.31M | -59.01M | -261.97M | 56.03M | 23.04M |
Kanani Industries Limited Technical Analysis
Positive
1.46
Price Trends
1.47
Positive
1.50
Positive
1.52
Positive
Market Momentum
0.06
Negative
55.37
Neutral
44.81
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KANANIIND, the sentiment is Positive. The current price of 1.46 is below the 20-day moving average (MA) of 1.47, below the 50-day MA of 1.47, and below the 200-day MA of 1.52, indicating a bullish trend. The MACD of 0.06 indicates Negative momentum. The RSI at 55.37 is Neutral, neither overbought nor oversold. The STOCH value of 44.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:KANANIIND.
Kanani Industries Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | ₹6.96B | 12.16 | ― | ― | 30.27% | 54.08% | |
61 Neutral | ₹310.65M | 13.52 | ― | ― | -16.83% | 181.23% | |
58 Neutral | ₹6.83B | 8.63 | ― | 0.16% | 16.75% | 26.80% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹726.84M | 7.80 | ― | 0.29% | 34.05% | -7.33% | |
51 Neutral | ₹114.99M | 7.80 | ― | 0.44% | -2.92% | ― | |
41 Neutral | ₹266.28M | -25.39 | ― | 0.46% | 113.71% | 42.76% |
* General Sector Average
IN:KANANIIND
Kanani Industries Limited
1.57
-0.34
-17.80%
IN:GOENKA
Goenka Diamond & Jewels Ltd.
0.84
-0.57
-40.43%
IN:LYPSAGEMS
Lypsa Gems & Jewellery Ltd.
3.90
-1.25
-24.27%
IN:MOKSH
Moksh Ornaments Ltd.
8.42
-5.83
-40.91%
IN:RADHIKAJWE
Radhika Jeweltech Ltd
57.84
-29.39
-33.69%
IN:RBZJEWEL
RBZ Jewellers Limited
174.10
26.70
18.11%
Kanani Industries Limited Corporate Events
Kanani Industries Announces 43rd AGM and E-Voting Details
Sep 5, 2026
Kanani Industries Limited has published newspaper advertisements announcing its 43rd Annual General Meeting, along with e-voting arrangements and book closure details, in major Mumbai and all-India business dailies. The communication to stock exch...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.