Kurlon Enterprises Limited

Company Overview

During a visit to Germany, Mr. Ramesh Pai discovered that high-end motor car seats were made of rubberized coconut-coir fibre manufactured from Sri Lankan base material. Mr. Pai knew that India was one of the largest producers of coconut in the world and so, Mr. Pai discovered there was a new business to be pioneered.

Charged with this thought, he returned home to start his journey of discovering how best he could take advantage of the coir husk produced by India. Mr. Pai found that coconut coir was being used only by the cottage industry to manufacture retted fabric, from here Mr. Pai’s idea took shape and became Karnataka Consumer Products Limited which was further known as Kurl-on. Mr. Pai brought in Austrian technology to extract the fibre from the husk and curl it into ropes.

Rather than restricting himself to mattresses he also developed an ancillary range of products such as cushions and mats. In 2004, it ventured beyond providing just a better sleep experience and extended its product range into the home comfort segment.

The company has evolved and now manufactures mattresses in 126 different configurations. Pan-India, they have partnered with a network comprising more than 10000 dealers, 72 branch and stock points, and 9 strategically located manufacturing facilities across Karnataka, Odisha, Madhya Pradesh, Uttaranchal, and Gujarat. With state-of-the-art technology, these factors continue to improve the standards in the mattress industry and serve the growing Indian population.

id company_master_id company shareholder sharesNo shareHolding dateOfUpdate
66 33 Kurlon Enterprise Ltd Kurlon Limited 30946755 0 2020-03-31
69 33 Kurlon Enterprise Ltd Public 5434944 0 2020-03-31
67 33 Kurlon Enterprise Ltd Mrs Jaya S Pai 347 0 2020-03-31
68 33 Kurlon Enterprise Ltd Mr T Sudhakar pai 347 0 2020-03-31
id company_master_id company shareholder sharesNo shareHolding dateOfUpdate

Revenue Segment

Share Holding

Revenue & Margins

% Margins

Company Financials

Profit and Loss Account (₹ in Crores) 2018 2019 2020
Revenue from Operations 1094.87 1051.91 987.63
Other Income 12.45 11.96 7.93
Total Income 1107.32 1063.87 995.56
Cost of Operations 588.88 602.99 524.14
EBITDA 150.05 139.9 135.84
EBITDA % 13.55 % 13.15 % 13.64 %
EBIT 135.66 120.94 102.53
EBIT % 12.25 % 11.37 % 10.3 %
PBT 131.57 114.95 93.12
PBT % 11.88 % 10.81 % 9.35 %
TAX 47.41 48.9 17.87
NPAT 84.15 66.05 75.25
NPAT % 7.6 % 6.21 % 7.56 %
EPS (Basic) in ₹ 30.23 18.5 20.78
EPS (Diluted) in ₹ 29.83 18.07 20.3
Dividend Per Share (in ₹) 3 3 4

Sources of funds

Application of funds

Balance Sheet (₹ in Crores) 2018 2019 2020
Share Capital 13.89 18.19 18.19
Reserves 299.2 386.35 447.75
Networth 313.1 404.54 465.95
Long Term Borrowings 0 0 0
Short Term Borrowings 20.05 22.38 23.89
Current Liabilities 160.66 166.13 157.09
Non-Current Assets 214.36 278.01 352.79
Current Assets 339.37 380.21 394.03
Total Assets 553.73 658.22 746.82
Cash Bank Balance 43.79 30.66 14.31
Trade Receivables 119.94 119.61 67.05
Trade Payables 114.82 129.11 119.48
Inventory 100.49 117.29 122.9
Cash Flow Statement (₹ in Crores) 2018 2019 2020
Cash flow from operating Activities 64.21 37.11 127.51
Cash flow from Investing Activities -53.63 -33.39 -123.6
Cash flow from Financing Activities 1.52 -16.12 -20.35
Net Cash-Flow 12.1 -12.4 -16.44

KEL %

2020
2019

SHEELA %

2020
2019
Price Multiples as on 2021-05-08
Face Value Per Share (in ₹) 5
Price Per Share (in ₹) 700
P/E 34.48
P/B 5.47
Dividend Yield 0.57 %
Price / Sales 2.58
Price Multiples as on 2021-05-08
Face Value Per Share (in ₹) 5
Price Per Share (in ₹) 700
P/E 34.48
P/B 5.47
Dividend Yield 0.57 %
Price / Sales 2.58
Interesting Quote / Trivial Information about the company's unlisted shares
Kurl-on
Source Name
Additional details

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Peer Comparison

Profit and Loss Account (₹ in Crores) 2020 2019 2018
Kurlon Sheela Kurlon Sheela Kurlon Sheela
Revenue from Operations 987.63 2173.63 1051.91 2141.45 1094.87 1965.31
Other Income 7.93 39.99 11.96 27.56 12.45 21.06
Total Income 995.56 2213.62 1063.87 2169.01 1107.32 1986.38
Cost of Operations 524.14 1175.26 602.99 1262.53 588.88 1174.96
EBITDA 135.84 340.4 139.9 238.58 150.05 237.4
EBITDA % 13.64 15.38 13.15 11 13.55 11.95
EBIT 102.53 281.36 120.94 199.05 135.66 202.16
EBIT % 10.3 12.71 11.37 9.18 12.25 10.18
PBT 93.12 268.36 114.95 189.43 131.57 193.49
PBT % 9.35 12.12 10.81 8.73 11.88 9.74
TAX 17.87 62.08 48.9 55.69 47.41 59.78
NPAT 75.25 206.28 66.05 133.74 84.15 133.72
NPAT % 7.56 9.32 6.21 6.17 7.6 6.73
EPS (Basic) in ₹ 20.78 39.83 18.5 27.41 30.23 27.41
EPS (Diluted) in ₹ 20.3 39.83 18.07 27.41 29.83 27.41
Dividend Per Share (in ₹) 4 0 3 0 3 0
Balance Sheet (₹ in Crores) 2020 2019 2018
Kurlon Sheela Kurlon Sheela Kurlon Sheela
Share Capital 18.19 24.39 18.19 24.39 13.89 24.39
Reserves 447.75 895.35 386.35 705.71 299.2 572.87
Networth 465.95 919.74 404.54 730.1 313.1 597.26
Long Term Borrowings 0 157.13 0 5.55 0 8.26
Short Term Borrowings 23.89 54.68 22.38 25 20.05 39.67
Current Liabilities 157.09 392.58 166.13 342.01 160.66 62.63
Non-Current Assets 352.79 894.43 278.01 476.1 214.36 450.55
Current Assets 394.03 756.87 380.21 685.69 339.37 592.15
Total Assets 746.82 1651.3 658.22 1161.79 553.73 1042.7
Cash Bank Balance 14.31 44.62 30.66 20.3 43.79 158.24
Trade Receivables 67.05 215.77 119.61 152.16 119.94 147.31
Cash Flow Statement (₹ in Crores) 2020 2019 2018
Kurlon Sheela Kurlon Sheela Kurlon Sheela
Cash flow from operating Activities 127.51 163.54 37.11 137.87 64.21 133.72
Cash flow from Investing Activities -123.6 -294.55 -33.39 -245.68 -53.63 -80.07
Cash flow from Financing Activities -20.35 158.28 -16.12 -27 1.52 -20.1
Net Cash-Flow -16.44 27.27 -12.4 -134.82 12.1 33.55
Price Multiples as on 2021-05-06 Kurlon Sheela
Face Value Per Share 5 5
Price 700 2032.65
P/E 34.48 51.03
P/B 5.47 10.78
Dividend Yield 0.57 % 0 %
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