Query Board
Sayali Shirke / 16 Oct 2025/ Categories: DSIJ_Magazine_Web, DSIJMagazine_App, Query Board, Query Board, Regular Columns

Investment Horizon : Query-Specific : Subscribers can ask their queries regarding stocks they hold and get our expert guidance.
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Kiri Industries Limited (KIL) is an Indian manufacturer and exporter of a wide range of dyes, dye intermediates, and basic chemicals. Its products, including reactive and acid dyes and intermediates like H-acid and vinyl sulphone, cater to various industries globally. The company has a presence in international markets and is one of India’s leading dye producers. In the June 2025 quarter, the company reported consolidated net sales of `202.12 crore, reflecting a slight decline of approximately 1.4 per cent quarter-on-quarter (from `205.02 crore in March 2025) and a 23.78 per cent drop year-on-year. Operating profit (PBIDT/EBITDA) stood at `18.56 crore, roughly flat, up just 2.65 per cent year-on-year. Meanwhile, profit after Tax (PAT) was `10.14 crore, a sharp 87 per cent decrease year-on-year (versus `78.19 crore in June 2024). For medium-term investors, Kiri’s outlook depends heavily on the pending DyStar stake sale worth `5,700 crore, which could strengthen its balance sheet. Promoter stake has risen, reflecting confidence, though pledged shares and weak core profitability remain concerns.
Existing investors may HOLD till the DyStar deal concludes. New accumulation should be cautious and gradual.

Incorporated in 1988 as a joint venture between Apollo Hospitals and the Delhi Government, Indraprastha Medical Corporation Ltd operates a super-speciality tertiary care hospital in New Delhi. It runs a 718-bed facility in Delhi and a 46-bed facility in Noida, spanning 52 specialty departments. In the June 2025 quarter, Indraprastha Medical reported net sales of `365.06 crore, reflecting growth of 9.38 per cent quarter-onquarter and 4.94 per cent year-on-year. Operating profit (PBIDT) stood at `73.15 crore (up 19.29 per cent quarter-onquarter and 8.98 per cent year-on-year), while profit after tax (PAT) rose to `51.46 crore, an impressive 25.48 per cent quarter-on-quarter and 14.94 per cent year-on-year increase. Indraprastha Medical Corporation currently trades at a P/E of around 30.9×, significantly lower than the industry average of 59.6×. This discount is mainly due to its smaller operational scale and limited geographical presence, operating only two hospitals under an asset-light, lease-based model. With zero debt, high ROE, and expansion plans to increase capacity from approximately 755 to over 2,000 beds, the company is fundamentally strong—making it an attractive opportunity to take a position for long-term investors.
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