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KENNAMETAL INDIA LIMTIED (KENNAMET)

Producer Manufacturing · Metal Fabrication · figures to Nov '26

Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.91 / 100
Profitability 82Balance sheet 100
Compare withBHARAT FORGESCHAEFFLER INDIAPTC INDUSTRIES

Share price

Closing priceAdjusted for splits and bonus issues.

₹3,490.1 latest close · +19.5% over the last 90 sessions

₹3,000₹4,000₹5,000Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹3,000₹4,000₹5,000Jul 3Sep 4Nov 9

₹3,490.1 month-end · +31.9% over 12 months

₹3,000₹4,000Jun '23Aug '23Apr '26Jun '26Sep '26Nov '26 ₹3,000₹4,000Jun '23May '26Nov '26

₹3,490.1 month-end · +186.8% over 3 years

₹1,000₹2,000₹3,000₹4,000Jun '21Jan '22Aug '22Apr '23Apr '26Nov '26 ₹1,000₹2,000₹3,000₹4,000Jun '21Dec '22Nov '26

₹3,490.1 month-end · +215.2% since Sep '19

₹2,000₹4,000Sep '19Aug '20Aug '21Jul '22Jul '23Nov '26 ₹2,000₹4,000Sep '19Feb '22Nov '26

52-week range ₹2260.85 to ₹5136.00 · 1-year volatility 40.3%

Was the rally earned?

+129%share price, 5 yearsEarnings and multiple

Both mattered.

  • Per-share earnings added 73 points and the multiple added 56 points (P/E 45.6x to 65.5x).
  • The share count barely moved.
Net profit growth: +74 pts. Points of the price return explained by net profit growing (or shrinking).+74 ptsNet profit growthP/E change: +56 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+56 ptsP/E changeShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1 ptsShare count changeShare price: +129%+129%Share priceNet profit growth: +74 pts. Points of the price return explained by net profit growing (or shrinking).+74ProfitP/E change: +56 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+56P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: +129%+129%Share price
Net profit growth+74 ptsNet profit rose about 60%, which lifts the price.
P/E change+56 ptsThe P/E rose from 45.6x to 65.5x, which lifts the price.
Share count change-1 ptsShare count was little changed. More shares would count against the price.
What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Not shown for 1 year and 3 years: earnings were negative at one end, or there is not enough history.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with BHARAT FORGE

How rough has the ride been?

Maximum drawdown-47.8%recovered 2021-05
1-year volatility40.3%annualised
Beta vs sector index0.793-year daily, correlation 0.34
Volume spikes9last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−44.9% 0%−20%−40%2020202220242026−44.9%
Largest drawdowns

-47.8% (2019-10 peak to 2020-03 low, recovered 2021-05)

-30.6% (2026-09 peak to 2026-11 low, not yet recovered)

-29.5% (2022-11 peak to 2023-02 low, recovered 2023-08)

Most recent volume spikes

2026-08-28: 6.8x the 50-day median, price +1.4% that day

2026-08-24: 7x the 50-day median, price +4.6% that day

2026-08-21: 18x the 50-day median, price +8.7% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

65.5xP/E todayNear its historic high
Against its own history83rd percentile
CheapestMedian 47.1xDearest

Usual range 22.7x to 76.0x since 2019-09.

Against Producer Manufacturing65.5x vs 29.6x
This company
65.5x
Sector median
29.6x

122% above the Producer Manufacturing median.

10.6x37.3x64.0x90.8xSep '19Mar '21Sep '22Mar '24Sep '25Nov '2610.6x37.3x64.0x90.8xSep '19Feb '22Jul '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing median

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P/B (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing median

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P/S (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing median
How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).

Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.

All terms explained in the glossary →

How Producer Manufacturing is valued

Where does it rank among Producer Manufacturing peers?

Each cell is the company's percentile rank among its Producer Manufacturing peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

  • ROCE83rd
  • Op. margin81st
  • Revenue growth19th▼ 6 pts vs a year ago
  • EPS growth40th▼ 25 pts vs a year ago
  • Debt/equity ↓98th
  • Cash cycle ↓30th
  • P/E ↓14th
  • 12M momentum79th

Rank history

ROCE
Op. margin
Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26
Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Producer Manufacturing sector page Watch it move against Producer Manufacturing in the Observatory

What is the price implying?

~34%annual earnings growth implied by the price

At a P/E of 99.4x, the price would imply about 34.2%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Fewer than six years of annual earnings are available, which is too little to measure delivered growth.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Producer Manufacturing The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹3490.10
P/E
65.5x
ROCE
25.0%
Market Cap
₹7670 cr
Revenue (TTM)
₹1021 cr
P/S
7.5x
P/B
11.9x
ROE
18.1%
Operating Margin
18.0%
Debt / Equity
0.0x
Promoter Holding
75.0%
12M Momentum
31.9%

52-week range

₹2260.85₹5136.00
43% of the way from its 52-week low to its high

Price risk

1Y volatility
40.3%
Beta vs sector
1-year daily
0.88

Balance sheet & cash

Debt service
no meaningful debt
Cash from profit, 3Y
operating cash flow ÷ net profit
1.13x

Are profits backed by cash?

3 of 5checks within range1 beyond a threshold
Other income reliance6%Within range

Other income as a share of pre-tax profit (trailing twelve months): 5.8%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate19%Within range

Median quarterly effective tax rate over about 2.5 years: 19.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.13xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.13x (cash from operations ₹249 cr, net profit ₹221 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow1 of 4 yrsBeyond threshold

Fiscal years with positive free cash flow in the last 4: 1. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history—Not enough data

Not enough reported data to compute this.

Capital work in progress36% of fixed assetsNear threshold

Capital work-in-progress is 36% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days—Not enough data

Not enough reported data to compute this.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

RPG LIFE SCIENCESRPGLIFE
Health Technology
60%similar
ROCErevenue
RAILTEL CORPORATION OF INDRAILTEL
Communications
56%similar
market capoperating margin
KINGFA SCIENCE & TECH (I)KINGFA
Process Industries
54%similar
market capROCE
SRI LOTUS DEV AND REALTYLOTUSDEV
Finance
51%similar
promoter holdingrevenue
FOSECO INDIAFOSECOIND
Process Industries
50%similar
debt/equityvolatility
INOX INDIAINOXINDIA
Producer Manufacturing
63%similar
P/Epromoter holding
SHANTHI GEARSSHANTIGEAR
Producer Manufacturing
62%similar
debt/equityROCE
INGERSOLL-RAND (INDIA)INGERRAND
Producer Manufacturing
59%similar
promoter holdingmarket cap

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

30 events since Aug '20

  1. NovPriceFell 31% from the Sep 2026 peak to the Nov 2026 low.
  2. AugValuationP/E crossed above the 90th percentile of its own history to date (82.5x).
  3. AugPriceVolume reached 20.7x its 50-day median on 2026-08-12; price +8.2% that day.
  4. MayPriceVolume reached 28.2x its 50-day median on 2026-05-08; price +10.4% that day.
  5. OctPriceVolume reached 5.2x its 50-day median on 2023-10-19; price +1.5% that day.
  6. SepPeer rankMoved into the top quartile of Producer Manufacturing on operating margin (from the 2nd quartile).
  7. SepPriceVolume reached 93.2x its 50-day median on 2023-09-26; price +4.1% that day.
  8. AugPriceRegained the 2022-11 peak, 6 months after the low.
Show 22 earlier events
  1. JunPeer rankSlipped to the 2nd quartile of Producer Manufacturing on operating margin (from the top quartile).
  2. MayPriceVolume reached 8.9x its 50-day median on 2023-05-15; price -3.4% that day.
  3. MarPeer rankSlipped to the 3rd quartile of Producer Manufacturing on EPS growth (from the 2nd quartile).
  4. FebPriceFell 30% from the Nov 2022 peak to the Feb 2023 low.
  5. NovPriceVolume reached 5.4x its 50-day median on 2022-11-30; price +2.2% that day.
  6. SepResultsRevenue (TTM) reached a new high of ₹992 cr.
  7. SepPeer rankMoved into the top quartile of Producer Manufacturing on ROCE (from the 2nd quartile).
  8. AugPriceVolume reached 11.3x its 50-day median on 2022-08-01; price +0.2% that day.
  9. JunPeer rankMoved into the top quartile of Producer Manufacturing on operating margin (from the 2nd quartile).
  10. AprPeer rankSlipped to the 2nd quartile of Producer Manufacturing on ROCE (from the top quartile).
  11. AprPriceVolume reached 6.7x its 50-day median on 2022-04-26; price +0.3% that day.
  12. NovPriceVolume reached 14.5x its 50-day median on 2021-11-10; price +9.1% that day.
  13. SepResultsYear-on-year EPS growth turned positive.
  14. SepPeer rankMoved into the top quartile of Producer Manufacturing on ROCE (from the 3rd quartile).
  15. SepDividendStarted paying a dividend (payout 60% of profit).
  16. AugPriceVolume reached 60.1x its 50-day median on 2021-08-20; price +6.2% that day.
  17. MayPriceRegained the 2019-10 peak, 14 months after the low.
  18. MayPriceVolume reached 43.8x its 50-day median on 2021-05-14; price +11.8% that day.
  19. MarPriceVolume reached 22.2x its 50-day median on 2021-03-24; price -0.2% that day.
  20. NovPriceVolume reached 10.6x its 50-day median on 2020-11-19; price +4.5% that day.
  21. SepDividendDividend payout cut from 5% to 0% of profit.
  22. AugPriceVolume reached 70.6x its 50-day median on 2020-08-13; price +9.2% that day.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history87 months · 2019-09 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1165.5x₹1021 cr18.1%25.0%0.0x
2026-1069.2x₹1021 cr18.3%25.0%0.0x
2026-0977.5x₹1021 cr18.3%25.0%0.0x
2026-0882.5x₹1021 cr18.3%25.0%0.0x
2026-0753.0x₹1021 cr18.3%25.0%0.0x
2026-0657.4x₹1021 cr18.3%25.0%0.0x
2026-0554.3x₹1021 cr18.3%25.0%0.0x
2026-0451.1x₹1021 cr18.3%25.0%0.0x
2026-03—————
2026-02—————
2026-01—————
2025-12—————
2025-11—————
2025-10—————
2025-09—————
2025-08—————
2025-07—————
2025-06—————
2025-05—————
2025-04—————
2025-03—————
2025-02—————
2025-01—————
2024-12—————
2024-11—————
2024-10—————
2024-09—————
2024-08—————
2024-07—————
2024-06—————
2024-05—————
2024-04—————
2024-03—————
2024-02—————
2024-01—————
2023-12—————
2023-11—————
2023-1046.5x₹1021 cr18.3%25.0%0.0x
2023-0950.2x₹1021 cr18.3%25.0%0.0x
2023-0853.0x₹1021 cr18.3%25.0%0.0x
2023-0752.4x₹1021 cr18.3%25.0%0.0x
2023-0649.7x₹1021 cr18.3%25.0%0.0x
2023-0544.2x₹1021 cr18.3%25.0%0.0x
2023-0442.8x₹1021 cr18.3%25.0%0.0x
2023-0340.8x₹1021 cr18.3%25.0%0.0x
2023-0237.6x₹1021 cr18.3%25.0%0.0x
2023-0141.0x₹1021 cr18.3%25.0%0.0x
2022-1241.8x₹1021 cr18.3%25.0%0.0x
2022-1153.0x₹992 cr17.6%25.0%0.0x
2022-1047.8x₹992 cr17.6%25.0%0.0x
2022-0951.9x₹992 cr17.6%25.0%0.0x
2022-0848.5x₹935 cr18.4%17.0%0.0x
2022-0746.8x₹935 cr18.4%17.0%0.0x
2022-0638.3x₹935 cr18.4%17.0%0.0x
2022-0539.3x₹917 cr17.6%17.0%0.0x
2022-0441.1x₹917 cr17.6%17.0%0.0x
2022-0344.3x₹917 cr17.6%17.0%0.0x
2022-0248.1x₹895 cr15.0%17.0%0.0x
2022-0147.4x₹895 cr15.0%17.0%0.0x
2021-1246.0x₹895 cr15.0%17.0%0.0x
2021-1145.6x₹854 cr12.5%17.0%0.0x
2021-1041.6x₹854 cr12.5%17.0%0.0x
2021-0940.5x₹854 cr12.5%17.0%0.0x
2021-0875.6x₹738 cr7.4%9.0%0.0x
2021-0765.4x₹738 cr7.4%9.0%0.0x
2021-0663.3x₹738 cr7.4%9.0%0.0x
2021-0589.0x₹694 cr5.2%9.0%0.0x
2021-0477.1x₹694 cr5.2%9.0%0.0x
2021-0377.4x₹694 cr5.2%9.0%0.0x
2021-0290.8x₹685 cr4.7%9.0%0.0x
2021-0172.7x₹685 cr4.7%9.0%0.0x
2020-1270.0x₹685 cr4.7%9.0%0.0x
2020-1154.0x₹705 cr5.9%9.0%0.0x
2020-1047.0x₹705 cr5.9%9.0%0.0x
2020-0947.2x₹705 cr5.9%9.0%0.0x
2020-0818.9x₹945 cr17.2%—0.0x
2020-0717.2x₹945 cr17.2%—0.0x
2020-0618.1x₹945 cr17.2%—0.0x
2020-0517.2x₹945 cr17.2%—0.0x
2020-0417.6x₹945 cr17.2%—0.0x
2020-0317.2x₹945 cr17.2%—0.0x
2020-0224.3x₹945 cr17.2%—0.0x
2020-0125.4x₹945 cr17.2%—0.0x
2019-1224.4x₹945 cr17.2%—0.0x
2019-1124.7x₹945 cr17.2%—0.0x
2019-1029.0x₹945 cr17.2%—0.0x
2019-0926.9x₹945 cr17.2%—0.0x

Methodology and data notes

Methodology

Methodology and data notes

All figures come from public exchange prices and screener.in financial statements. Quarterly and annual results are shown from 60 days after the period end, so a month never uses a result before it would plausibly have been published. Statements are the latest versions, which may include later restatements.

Sector medians, percentiles and indices use today's listed companies in the sector (survivorship bias). Prices are adjusted for splits and bonus issues; around a corporate action the fundamentals may lag the price by up to a month, and affected sections are hidden.

The return decomposition uses price = P/E × net profit ÷ share count. The reverse DCF uses a fixed 12% cost of equity, a 10-year horizon and a 15x terminal P/E, and is an illustration only. Events, flags and twins follow fixed rules and thresholds described next to each section.

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