Key Metrics of Keltron Component Complex Limited
About Keltron Component Complex Limited
Company details
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
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Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 27 May 2026 | ICRA | Reaffirmed | B+ | A4 | Stable | ₹22.0 Cr | View |
Credit strengths (ICRA, May 2026)
+ Financial support from the GoK
KCCL received financial support from its ultimate parent entity, GoK, which holds a 21.33% stake.
Credit challenges
− Weak financial risk profile
KCCL’s financial risk profile remained weak with modest net worth level due to past losses.
− High working capital intensity
The company’s working capital intensity remained high with NWC/OI of 43% in FY2025 owing to high debtor and inventory levels.
− Profitability susceptible to volatility in raw material prices, intense competition and forex fluctuations
KCCL’s profitability remains exposed to volatility in raw material prices, given its significant dependence on imported raw materials, which are subject to price fluctuations and foreign exchange movements.
Could lead to an upgrade
The ratings could be upgraded if the company sustains its revenues and earnings, leading to an improvement in debt coverage metrics. The ratings could be upgraded upon conversion of interest-bearing loans from GoK into equity, improving its net worth levels.
Could lead to a downgrade
The ratings could be downgraded in case of a sharp decline in revenues or operating margins or a significant stretch in the working capital intensity, thereby exerting pressure on its
Agency-reported financials (ICRA, 27 May 2026)
| Metric | FY2024 | FY2025 |
|---|---|---|
| Operating income | ₹104 Cr | ₹106 Cr |
| PAT | ₹3.70 Cr | ₹3.80 Cr |
| OPBDIT/OI | 9.1% | 9.9% |
| PAT/OI | 3.6% | 3.5% |
| Total outside liabilities/Tangible net worth (times) | 4.80× | 3.90× |
| Total debt/OPBDIT (times) | 2.60× | 2.10× |
| Interest coverage (times) | 1.70× | 1.90× |
| Revenue growth (YoY) | — | 1.7% |
| EBITDA (margin × income) | ₹9.48 Cr | ₹10.49 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹24.65 Cr | ₹22.03 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹5.58 Cr | ₹5.52 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term – Fund based Cash credit limits | Working capital & bank lines | ₹10.0 Cr | ₹10.0 Cr | 0.0% | B+ (Stable) | Reaffirmed | ICRA |
| Short-term – Non-fund based limits | Non-fund based limits | ₹12.0 Cr | ₹11.0 Cr | −8.3% | A4 | Reaffirmed | ICRA |
| Short-term – Unallocated | Working capital & bank lines | ₹0 | ₹1.00 Cr | — | A4 | Reaffirmed | ICRA |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2024-25
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 46% |
| Information on file | 33% · missing: Audited financial statements (last 18 months), Annual results history (3+ years), Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 43% chance the next rating action is stable or better
- Current rating B+ (below investment grade)
- Interest coverage 1.9×
- Working-capital limits 19% utilised on average
- ₹1 cr of rated limits not yet tied to a lender
Rated limits by facility
Timeline
From the report
ICRA notes that the company has an outstanding investment and working capital of Rs. 20.7 crore from the GoK and had submitted a proposal to convert the loans availed from the GoK into equity, which is pending with the GoK.
From the report
However, with improved operational performance and fresh equity infusion by the GoK over the years, the net worth improved to Rs. 25.4 crore as on March 31, 2025, from Rs. 6.4 crore as on March 31, 2022.
From the report
Liquidity position: Adequate The company’s liquidity position is Adequate, as reflected by low utilisation of working capital limits (average utilisation of 19%) in the past 12 months ending in March 2026.
From the report
Further, the liquidity position is supported by free cash balance of Rs. 10 crore as on March 31, 2026.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.