Kolte - Patil Developers financials and balance sheet

NSE: KOLTEPATILBSE: 532924RealtySmall Cap

₹458.30₹26.90 (6.24%)BSE ₹458.00

Share price at the NSE close on 23 Oct 2026. Previous close ₹431.40.

52-week range of traded prices to 23 Oct 2026

₹292.25Low, 30 Mar 2026₹554.60High, 11 Aug 2026

Market cap: ₹4,064 Cr954th largest listed
P/E: 32.6
P/B: 3.4
Dividend yield: Nonein the last 12 months
ROE: 12.2%
ROCE: 5.9%
Debt to equity: 0.95
Volume, NSE: 8,91,42816.9% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Kolte - Patil Developers annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

Peak revenue ₹1,717 Cr, year to Mar 2025A loss in the year to Mar 2026, −₹38 Cr

Operating and net margin, per cent

Operating margin
Net margin

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 21.5% of operating profit in the first full year.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue735
Materials and goods−524
Employee costs−102
Other expenses−170
Operating profit−61
Depreciation−16
Other income+68
One-off items0.0
Finance costs−27
Profit before tax−36
Tax−10
Joint ventures+8.3
Net profit−38

What the company owns

Inventory₹5,275 Cr
Plant, investments and other assets₹1,243 Cr
Cash and bank₹511 Cr
Current investments₹466 Cr
Receivables₹63 Cr

What pays for it: net worth and liabilities

Other liabilities₹4,551 Cr
Net worth₹1,205 Cr
Borrowings₹1,142 Cr
Owed to suppliers₹660 Cr

Profit and loss

Consolidated, ₹ crore, years to March.Kolte - Patil Developers quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 5 Jun	Mar 2020Filed 23 Jun	Mar 2021Filed 31 May	Mar 2022Filed 26 May	Mar 2023Filed 25 May	Mar 2024Filed 7 Jun	Mar 2025Filed 10 Jun	Mar 2026Filed 22 May
Revenue from operations	966	1,403	869	1,130	692	1,117	1,488	1,371	1,717	735
	726	1,100	622	896	629	931	1,299	1,320	1,542	796
Materials and goods bought	608	966	454	733	496	772	1,089	1,076	1,297	524
Employee costs	–	38	54	59	65	71	86	97	94	102
Other expenses	–	96	114	104	68	88	124	147	150	170
Operating profit before depreciation	240	303	247	234	62	186	189	51	176	−61
Operating margin	24.9%	21.6%	28.4%	20.7%	9.0%	16.7%	12.7%	3.7%	10.2%	−8.3%
Materials, % of revenue	–	68.9%	52.3%	64.9%	71.7%	69.1%	73.2%	78.5%	75.5%	71.3%
Employee costs, % of revenue	–	2.7%	6.2%	5.2%	9.4%	6.3%	5.8%	7.1%	5.5%	13.8%
Other expenses, % of revenue	–	6.8%	13.1%	9.3%	9.8%	7.9%	8.3%	10.7%	8.8%	23.2%
Depreciation and amortisation	15	15	15	17	12	10	12	38	14	16
Operating profit after depreciation	225	287	232	216	50	176	178	13	162	−77
Other income	8	14	11	47	17	19	33	23	46	68
Finance costs	86	99	92	80	70	50	41	98	42	27
Profit before one-off items and tax	147	203	151	184	−3	145	170	−61	166	−36
One-off items	0	0	0	0	0	−7	0	0	0	0
Profit before tax	147	203	151	184	−3	138	170	−61	166	−36
	62	49	52	84	1	51	56	−3	62	10
Current tax	68	69	70	51	39	50	62	18	41	86
Deferred tax	−5	−20	−19	33	−38	2	−6	−21	21	−76
Share of profit of joint ventures and associates	–	–	–	–	−1	−2	−2	−10	5	8
	85	154	99	100	−5	85	112	−67	109	−38
Belonging to the company's shareholders	85	–	75	–	−6	80	102	−67	107	−39
Belonging to outside owners of subsidiaries	–	–	24	–	1	–	9	–	3	1
Other comprehensive income	–	–	0	0	1	1	0	−1	0	0
Total comprehensive income	–	–	100	100	−4	86	112	−69	109	−38
Net margin	8.8%	10.9%	11.4%	8.8%	−0.7%	7.6%	7.5%	−4.9%	6.4%	−5.2%
Net margin without joint ventures and associates	–	–	–	–	−0.6%	7.7%	7.6%	−4.2%	6.1%	−6.3%

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the year to Mar 2017 they do not, so they are left blank. Belonging to the company's shareholders is left blank for the years to Mar 2018 and Mar 2020: the filing's earnings per share does not match the profit it states, and cannot be multiplied back into the owners' profit because the share it leaves the other owners is more than 10 points from the share the company's other periods state.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019Filed 5 Jun	Mar 2020Filed 23 Jun	Mar 2021Filed 31 May	Mar 2022Filed 26 May	Mar 2023Filed 25 May	Mar 2024Filed 7 Jun	Mar 2025Filed 10 Jun	Mar 2026Filed 22 May
	846	920	894	967	1,055	736	837	1,205
	840	905	894	959	1,046	734	830	1,207
Share capital	76	76	76	76	76	76	76	89
Reserves	764	829	818	883	970	658	754	1,118
Belonging to outside owners of subsidiaries	6	15	0	8	9	2	7	−2
	560	516	498	522	542	1,079	1,109	1,142
Repayable after a year	486	423	420	249	349	220	4	2
Repayable within a year	74	94	78	272	192	859	1,105	1,141
	2,260	2,313	2,511	2,663	2,698	3,858	4,429	6,312
Trade payables	254	282	290	288	373	574	543	660
Other financial liabilities	271	318	185	11	36	42	149	143
Other liabilities	1,580	1,536	1,900	2,076	2,065	2,364	–	4,341
Provisions	56	55	52	11	12	15	16	19
Tax owed	26	28	7	6	21	4	15	9
	524	477	496	340	467	354	38	41
Other financial liabilities	19	18	28	46	63	120	21	28
Other liabilities	–	13	18	–	4	–	–	–
Provisions	4	5	7	44	49	13	13	11
Deferred tax	3	–	0	–	0	–	–	0
Trade payables	12	18	22	–	2	–	–	0
Total assets	3,630	3,710	3,901	3,970	4,220	4,947	5,304	7,557
	507	645	697	629	703	621	702	604
Plant in use, after depreciation	57	91	62	63	67	87	150	169
Plant being built	0	–	0	–	10	–	–	4
Intangible assets	7	3	1	1	1	31	1	0
Goodwill	21	201	204	204	204	0	0	0
Property held to earn rent	20	–	19	18	18	17	17	92
Investments	0	0	17	46	44	32	19	11
Loans given	0	0	0	0	0	34	0	1
Other financial assets	31	32	49	48	64	229	108	44
Deferred tax	178	141	179	172	179	190	164	219
Trade receivables	–	–	0	12	8	–	–	0
Other assets	193	178	166	65	108	–	242	65
	3,123	3,065	3,204	3,341	3,517	4,326	4,603	6,953
Inventories	2,827	2,758	2,864	2,837	2,894	3,469	3,611	5,275
Trade receivables	108	62	33	26	27	56	62	63
Cash and cash equivalents	42	80	112	146	226	300	180	202
Other bank balances	22	17	51	129	128	110	259	309
Current investments	3	1	1	14	2	93	41	466
Other financial assets	5	4	17	5	12	4	112	207
Tax paid in advance	38	53	40	36	45	56	55	69
Other assets	78	90	85	147	183	239	282	363
Net debt	494	418	334	232	186	575	628	166

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 31 May	Mar 2022Filed 26 May	Mar 2023Filed 25 May	Mar 2024Filed 7 Jun	Mar 2025Filed 10 Jun	Mar 2026Filed 22 May
	324	350	193	−111	282	217
	371	399	249	−76	311	300
	292	217	26	−140	111	336
Receivables	35	−5	2	−20	−7	−10
Inventories	−95	27	25	−469	−22	−1,594
Payables	1	−23	91	199	−30	116
Other working capital	352	217	−92	150	170	1,824
Tax paid	−47	−46	−56	−35	−29	−83
Capital spending	6	12	18	43	57	38
Free cash flow	318	338	174	−154	224	179
	−155	−115	−45	−134	−241	−474
Plant and property sold	0	1	0	1	0	9
Companies bought	0	−26	0	−28	−16	0
Interest received	4	3	5	8	14	19
Dividends received	0	0	0	0	1	4
	−137	−200	−68	319	−160	278
Borrowings raised	124	245	277	768	414	571
Borrowings repaid	−188	−388	−257	−300	−430	−575
Interest paid	−71	−59	−53	−107	−102	−116
Lease payments	0	0	0	−11	−12	−13
Dividends paid	0	0	15	30	30	0
Shares bought back	0	0	0	0	0	0
Shares issued	3	0	0	0	0	417
Net change in cash	32	34	79	74	−119	21

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.Kolte - Patil Developers dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 5 Jun	Mar 2020Filed 23 Jun	Mar 2021Filed 31 May	Mar 2022Filed 26 May	Mar 2023Filed 25 May	Mar 2024Filed 7 Jun	Mar 2025Filed 10 Jun	Mar 2026Filed 22 May
Earnings per share	₹11.51	₹16.03	₹9.95	₹9.55	−₹0.73	–	₹13.48	−₹9.12	₹14.02	−₹4.51
Diluted earnings per share	₹11.51	₹16.03	₹9.92	₹9.50	−₹0.73	–	₹13.48	−₹9.12	₹13.99	−₹4.51
Dividend per share	₹1.60	₹2.00	₹2.40	–	–	₹2.00	₹4.00	₹4.00	–	–
Book value per share	–	–	₹110.82	₹119.37	₹117.62	₹126.22	₹137.67	₹96.57	₹109.23	₹136.09
Dividend payout	14.3%	–	24.1%	–	–	19.0%	29.7%	–	–	–
Shareholder yield	–	–	–	–	−0.2%	0.0%	0.8%	0.9%	1.2%	−15.9%
Market cap at the year end (₹ crore)	1,379	2,254	1,906	911	1,719	2,146	1,894	3,520	2,461	2,624

Earnings per share is left blank for the year to Mar 2022: the earnings per share is stated as 0 while the period's profit or loss comes to at least half a paisa a share, so the 0 stands in for a figure the filing does not give.

Ratios

Consolidated, years to March.Kolte - Patil Developers PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019Filed 5 Jun	Mar 2020Filed 23 Jun	Mar 2021Filed 31 May	Mar 2022Filed 26 May	Mar 2023Filed 25 May	Mar 2024Filed 7 Jun	Mar 2025Filed 10 Jun	Mar 2026Filed 22 May
Revenue growth	40.9%	45.3%	−38.0%	29.9%	−38.8%	61.5%	33.2%	−7.9%	25.2%	−57.2%
Operating profit growth	30.3%	26.1%	−18.3%	−5.5%	−73.3%	198.4%	1.6%	−73.0%	244.2%	–
Net profit growth	43.7%	80.9%	−35.3%	0.3%	–	–	31.8%	–	–	–
Earnings per share growth	47.6%	39.3%	−37.9%	−4.0%	–	–	–	–	–	–
	–	–	9.0%	–	−0.6%	8.6%	10.2%	−7.6%	13.6%	−3.8%
	–	–	–	–	–	9.3 pts	1.6 pts	−17.8 pts	21.2 pts	−17.4 pts
From the net margin	–	–	–	–	–	6.1 pts	−0.3 pts	−17.5 pts	17.1 pts	−25.2 pts
From asset turnover	–	–	–	–	–	3.1 pts	2.3 pts	1.3 pts	1.1 pts	7.6 pts
From borrowing	–	–	–	–	–	0.0 pts	−0.4 pts	−1.6 pts	2.9 pts	0.1 pts
Return on capital employed	–	–	16.5%	15.1%	3.6%	11.8%	11.1%	0.7%	8.3%	−3.3%
Cash conversion	–	–	–	–	–	412.1%	172.1%	–	257.9%	–
Interest cover	2.6	2.9	2.5	2.7	0.7	3.5	4.4	0.1	3.9	–
Debt to equity	–	–	0.66	0.56	0.56	0.54	0.51	1.47	1.32	0.95
Receivable days	–	–	45	20	17	8	7	15	13	31
Inventory days	–	–	2,271	1,374	2,106	1,341	970	1,177	1,016	3,673
Payable days	–	–	204	141	214	136	125	195	153	459
Cash conversion cycle, days	–	–	2,113	1,253	1,910	1,213	851	997	877	3,245
Working capital days	–	–	365	241	319	216	161	219	170	400
Asset turnover	–	–	0.24	0.31	0.18	0.28	0.36	0.30	0.34	0.11
Assets per rupee of net worth	–	–	4.32	4.21	4.23	4.25	4.08	5.15	6.55	6.31
Sales per rupee of plant	–	–	15.32	12.46	11.19	17.64	22.17	15.69	11.43	4.35
Capital spending to depreciation	–	–	–	–	0.48	1.16	1.60	1.15	4.03	2.36
Plant being built, % of plant in use	–	–	0.8%	–	0.4%	–	15.0%	–	–	2.1%

Interest cover is left blank for the year to Mar 2026: operating profit after depreciation is a loss, and a loss covers no interest bill. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: −0.6%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	0.7%	1.2%	−21.0%
Return on equity, average	–	4.2%	0.7%
Return on capital employed, average	–	5.7%	1.9%
Operating margin, average	14.0%	7.0%	1.9%
Net margin, average	5.1%	2.3%	−1.2%
Asset turnover, average	–	0.28	0.25
Cash conversion cycle, days, average	–	1,437	1,706
Interest cover, average	2.6	3.0	2.0
Debt to equity, average	–	0.96	1.25

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	930	388	217
Cash from investing	−1,009	−848	−474
Cash from financing	168	436	278
Capital spending	169	138	38
Dividends paid	76	61	0
Shares bought back	0	0	0
Shares issued for cash	417	417	417
Borrowings raised	2,274	1,752	571
Borrowings repaid	1,950	1,305	575

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	3	8	7	2	8	5
Altman Z-scorePublished threshold 1.1	–	–	3.01	2.88	2.28	2.50	2.71	1.29	1.14	1.23
Beneish M-scorePublished threshold −1.78	–	–	–	–	−3.24	−2.78	−2.34	−1.57	−2.28	−2.39
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	−4.57	−3.80	−0.86	3.87	1.33	3.40
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	4.51	3.34	2.36	102.90
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	−72.74	−7.68	−83.63	−27.02	111.48	−13.62	59.26
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	−63.71	36.10	−56.55	−39.04	21.07	−16.42	105.67
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	2.25	−0.66	4.11	3.51	4.29	8.75	25.76
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	–	–	–	0.65	–	–	0.10
Effective tax ratePublished threshold 17.16 per cent	42.38	24.29	34.27	45.72	–	37.31	33.16	–	37.24	–
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	3.95	−0.05	–	19.69	–

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
7 Oct 2026	CARE Ratings Limited (opens in a new tab)	Debentures-Non Convertible DebenturesLong-term scale	CARE AA-Review, Re-affirm	Stable	139.96
25 Mar 2026	CRISIL Ratings Limited (opens in a new tab)	Bank Facilities	Crisil AA-Review, Re-affirm	Stable	8
25 Mar 2026	CRISIL Ratings Limited (opens in a new tab)	Non Convertible Debentures	Crisil AA-Review, Re-affirm	Stable	3.18
25 Mar 2026	CRISIL Ratings Limited (opens in a new tab)	Bank Facilities	Crisil A1+Review, Re-affirm		97

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.