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
183 33 Kurlon Enterprise Ltd Kurlon Limited 30949615 0 2021-03-31
185 33 Kurlon Enterprise Ltd Others 3248560 0 2021-03-31
184 33 Kurlon Enterprise Ltd Indian Business Excellence Fund II A 2354086 0 2021-03-31
id company_master_id company shareholder sharesNo shareHolding dateOfUpdate

Revenue Segment

Share Holding

Revenue & Margins

% Margins

Company Financials

Profit and Loss Account (₹ in Crores) 2019 2020 2021
Revenue from Operations 1051.91 987.63 783.67
Other Income 11.96 7.93 8.93
Total Income 1063.87 995.56 792.6
Cost of Operations 602.99 524.14 428.07
EBITDA 139.9 135.84 110.95
EBITDA % 13.15 13.64 14
EBIT 120.94 102.53 79.19
EBIT % 11.37 10.3 9.99
PBT 114.95 93.12 73.92
PBT % 10.81 9.35 9.33
TAX 48.9 17.87 23.84
NPAT 66.05 75.25 29.89
NPAT % 6.21 7.56 3.77
EPS (Basic) in ₹ 18.5 20.78 8.33
EPS (Diluted) in ₹ 18.07 20.3 8.33
Dividend Per Share (in ₹) 3 4 5

Sources of funds

Application of funds

Balance Sheet (₹ in Crores) 2019 2020 2021
Share Capital 18.19 18.19 18.28
Reserves 386.35 447.75 465.51
Networth 404.54 465.95 483.79
Long Term Borrowings 0 0 0.45
Short Term Borrowings 22.38 23.89 12.04
Current Liabilities 166.13 157.09 112.14
Non-Current Assets 278.01 352.79 330.38
Current Assets 380.21 394.03 388.08
Total Assets 658.22 746.82 718.46
Cash Bank Balance 30.66 14.31 41.89
Trade Receivables 119.61 67.05 49.3
Trade Payables 129.11 119.48 92.97
Inventory 117.29 122.9 116.65
Cash Flow Statement (₹ in Crores) 2019 2020 2021
Cash flow from operating Activities 37.11 127.51 94.72
Cash flow from Investing Activities -33.39 -123.6 -37.69
Cash flow from Financing Activities -16.12 -20.35 -29.54
Net Cash-Flow -12.4 -16.44 27.49

KEL %

2020
2019

SHEELA %

2020
2019
Price Multiples as on 2021-05-08
Face Value Per Share (in ₹) 5
Price Per Share (in ₹) 650
P/E 78.03
P/B 4.91
Dividend Yield 0.77 %
Price / Sales 3.03
Market Cap (₹ in Crores) 2376
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) 2021 2020 2019
Kurlon Sheela Kurlon Sheela Kurlon Sheela
Revenue from Operations 783.67 2435.36 987.63 2173.63 1051.91 2141.45
Other Income 8.93 52.08 7.93 39.99 11.96 27.56
Total Income 792.6 2487.44 995.56 2213.62 1063.87 2169.01
Cost of Operations 428.07 1438.45 524.14 1175.26 602.99 1262.53
EBITDA 110.95 414.41 135.84 340.4 139.9 238.58
EBITDA % 14 16.66 13.64 15.38 13.15 11
EBIT 79.19 341.54 102.53 281.36 120.94 199.05
EBIT % 9.99 13.73 10.3 12.71 11.37 9.18
PBT 73.92 323.86 93.12 268.36 114.95 189.43
PBT % 9.33 13.02 9.35 12.12 10.81 8.73
TAX 23.84 83.69 17.87 62.08 48.9 55.69
NPAT 29.89 240.17 75.25 206.28 66.05 133.74
NPAT % 3.77 9.66 7.56 9.32 6.21 6.17
EPS (Basic) in ₹ 8.33 49.23 20.78 39.83 18.5 27.41
EPS (Diluted) in ₹ 8.33 49.23 20.3 39.83 18.07 27.41
Dividend Per Share (in ₹) 5 0 4 0 3 0
Balance Sheet (₹ in Crores) 2021 2020 2019
Kurlon Sheela Kurlon Sheela Kurlon Sheela
Share Capital 18.28 24.39 18.19 24.39 18.19 24.39
Reserves 465.51 1159.9 447.75 895.35 386.35 705.71
Networth 483.79 1184.29 465.95 919.74 404.54 730.1
Long Term Borrowings 0.45 132.63 0 157.13 0 5.55
Short Term Borrowings 12.04 87.93 23.89 54.68 22.38 25
Current Liabilities 112.14 541.67 157.09 392.58 166.13 342.01
Non-Current Assets 330.38 1238.05 352.79 894.43 278.01 476.1
Current Assets 388.08 837.8 394.03 756.87 380.21 685.69
Total Assets 718.46 2075.85 746.82 1651.3 658.22 1161.79
Cash Bank Balance 41.89 58.1 14.31 44.62 30.66 20.3
Trade Receivables 49.3 302.15 67.05 215.77 119.61 152.16
Trade Payables 92.97 229.64 119.48 153.45 129.11 143.2
Inventory 116.65 315.31 122.9 226.86 117.29 187.14
Cash Flow Statement (₹ in Crores) 2021 2020 2019
Kurlon Sheela Kurlon Sheela Kurlon Sheela
Cash flow from operating Activities 94.72 260.3 127.51 163.54 37.11 137.87
Cash flow from Investing Activities -37.69 -214.7 -123.6 -294.55 -33.39 -245.68
Cash flow from Financing Activities -29.54 -32.35 -20.35 158.28 -16.12 -27
Net Cash-Flow 27.49 13.25 -16.44 27.27 -12.4 -134.82
Price Multiples as on 2022-03-14 Kurlon Sheela
Face Value Per Share 5 5
Price 700 3497
P/E 84.03 71.03
P/B 5.29 14.4
Dividend Yield 0.71 % 0 %
Price / Sales 3.27 7
Market Cap (₹ in Crores) 2559 17059
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