---
title: "Kumaka Industries Ltd (ASHOKORG) — Share Price, Financials & Analysis"
symbol: "ASHOKORG"
company: "Kumaka Industries Ltd"
canonical: "https://tapetide.com/stocks/ASHOKORG"
sector: "Commodities"
industry: "Chemicals & Petrochemicals"
generated_at: "2026-09-13T18:44:42.574Z"
---

# Kumaka Industries Ltd (ASHOKORG)

Canonical page: https://tapetide.com/stocks/ASHOKORG

## Company

- **Sector:** Commodities
- **Industry:** Chemicals & Petrochemicals
- **Macro Sector:** Commodities
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No

## About

Kumaka Industries Ltd. is engaged in manufacturing pharmaceutical products. The company offers corticosteroids and salts. Kumaka Industries Ltd.

## Latest Price

## Key Insights

### Strengths

- Company is almost debt free.
- Debtor days have improved from 154 to 17.8 days.

### Weaknesses

- Company has low interest coverage ratio.
- Company has a low return on equity of -1.05% over last 3 years.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -267% | 18% | 10% |
| revenue growth | 91% | 174% | 15% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.02 | 0.02 | 0.06 | 0.03 | 0.03 | 0.03 | 0.12 | 0.05 | 0.12 | 0.14 | 0.09 | 0.09 |
| Expenses | 0.22 | 0.16 | 0.1 | 0.07 | 0.07 | 0.1 | 0.08 | 0.11 | 0.19 | 0.13 | 0.27 | 0.1 |
| Operating Profit | -0.2 | -0.14 | -0.04 | -0.04 | -0.04 | -0.07 | 0.04 | -0.06 | -0.07 | 0.01 | -0.18 | -0.01 |
| OPM % | -1000 | -700 | -66.67 | -133.33 | -133.33 | -233.33 | 33.33 | -120 | -58.33 | 7.14 | -200 | -11.11 |
| Other Income | -0.07 | -0.04 | 0.03 | 0.02 | 0.01 | 0.01 | 0.14 | 0.01 | 0.01 | -0.37 | 0.02 | 0.16 |
| Interest | 0.03 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0 |
| Profit before tax | -0.3 | -0.18 | -0.01 | -0.02 | -0.03 | -0.06 | 0.17 | -0.06 | -0.07 | -0.37 | -0.17 | 0.15 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -0.3 | -0.19 | -0.01 | -0.02 | -0.03 | -0.06 | 0.17 | -0.05 | -0.07 | -0.37 | -0.16 | 0.15 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0 | 0 | 0.05 | 0.2 | 0.01 | 0.02 | 0.12 | 0.19 | 0.41 | 0.44 |
| Expenses | 2.7 | 1.31 | 0.98 | 0.97 | 0.43 | 0.72 | 0.55 | 0.31 | 0.7 | 0.69 |
| Operating Profit | -2.7 | -1.31 | -0.93 | -0.77 | -0.42 | -0.7 | -0.43 | -0.12 | -0.29 | -0.25 |
| OPM % | — | — | -1860 | -385 | -4200 | -3500 | -358.33 | -63.16 | -70.73 | -56.82 |
| Other Income | 6.12 | 5.78 | 1.07 | 0.25 | 0.1 | -0.96 | -0.08 | 0.18 | -0.34 | -0.18 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0.03 | 0.03 | 0 | 0 | 0 |
| Depreciation | 0.07 | 0.08 | 0.13 | 0.14 | 0.14 | 0.04 | 0.01 | 0.01 | 0.03 | 0.03 |
| Profit before tax | 3.35 | 4.39 | 0.01 | -0.66 | -0.46 | -1.73 | -0.55 | 0.05 | -0.66 | -0.46 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Net Profit | 3.35 | 4.39 | 0.01 | -0.67 | -0.46 | -1.73 | -0.54 | 0.05 | -0.66 | -0.45 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 12.09 | 12.09 | 12.09 | 12.09 | 12.09 | 12.09 | 12.09 | 12.09 | 12.09 | 12.08 |
| Reserves | 20.36 | 23.71 | 26.74 | 10.39 | 9.73 | 6.97 | 7.23 | 6.68 | 6.73 | 6.09 |
| Borrowings | 1.81 | 0.16 | 0.03 | 0.99 | 1.5 | 0 | 0 | 0 | 0 | 0.06 |
| Other Liabilities | 8.65 | 7.73 | 3.77 | 2.39 | 2.36 | 3.78 | 3.84 | 5.7 | 5.84 | 0.32 |
| Total Liabilities | 42.91 | 43.69 | 42.63 | 25.86 | 25.68 | 22.84 | 23.16 | 24.47 | 24.66 | 18.55 |
| Fixed Assets | 4.38 | 2.84 | 2.69 | 2.63 | 2.49 | 12.4 | 13.76 | 14.58 | 14.94 | 14.92 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 2.36 | 0.09 | 3.92 | 3.92 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Other Assets | 38.53 | 38.49 | 39.85 | 19.31 | 19.27 | 10.43 | 9.39 | 9.88 | 9.71 | 3.62 |
| Total Assets | 42.91 | 43.69 | 42.63 | 25.86 | 25.68 | 22.84 | 23.16 | 24.47 | 24.66 | 18.55 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -33.18 | 2.97 | -0.69 | 19.04 | -0.62 | -6.69 | -0.87 | 1.12 | -0.02 | 1.52 |
| Cash from Investing Activity | 34.5 | -0.85 | 5.04 | -3.78 | 0 | 6.81 | 0.78 | -1.12 | 0 | -1.51 |
| Cash from Financing Activity | -1.69 | -1.99 | -0.14 | -15.4 | 0.5 | 0 | 0 | -0.03 | 0 | 0 |
| Net Cash Flow | -0.37 | 0.13 | 4.21 | -0.14 | -0.11 | 0.12 | -0.09 | -0.04 | -0.02 | 0.01 |
| Free Cash Flow | 0.62 | 4.51 | 2.15 | 19.1 | -0.62 | 1.01 | -0.79 | 0.23 | -0.39 | 1.51 |
| CFO/OP | 8093 | -110 | 53 | -2047 | 81 | 1586 | 124 | -267 | 17 | -541 |

### Ratios

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | — | — | — | 1971 | 474.5 | 9125 | 0 | 212.92 | 230.53 | 17.8 |
| Inventory Days | 0 | — | — | 456.25 | 21.47 | 365 | 0 | — | 0 | 0 |
| Days Payable | — | — | — | 821.25 | 193.24 | 0 | — | — | — | — |
| Cash Conversion Cycle | — | — | — | 1606 | 302.74 | 9490 | 0 | 212.92 | 230.53 | 17.8 |
| Working Capital Days | — | — | — | -22192 | -6478.75 | 148555 | 67890 | 5961.67 | 3784.47 | -186.95 |
| ROCE % | 1.34 | -3.79 | 4.6 | 0.03 | -2.82 | -0.52 | -3.65 | -1.89 | 0.27 | -1.4 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Jun 2021 |
| --- | --- | --- | --- | --- | --- | --- |
| Promoters | 87.56% | 87.56% | 87.56% | 87.56% | 87.56% | 87.56% |
| DIIs | 0.09% | 0.09% | 0.09% | 0.09% | 0.09% | 0.09% |
| Public | 12.35% | 12.35% | 12.35% | 12.35% | 12.35% | 12.35% |
| No. of Shareholders | 9845 | 9845 | 9837 | 9837 | 9835 | 9835 |

### Quarterly

| Category | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 87.56% | 87.56% | 87.56% | 87.56% | 87.56% | 87.56% | 87.56% | 87.56% | 87.55% | 87.55% | 87.56% | 87.56% |
| DIIs | 0.09% | 0.09% | 0.09% | 0.09% | 0.09% | 0.09% | 0.09% | 0.09% | 0.09% | 0.09% | 0.09% | 0.09% |
| Public | 12.35% | 12.35% | 12.35% | 12.35% | 12.35% | 12.35% | 12.35% | 12.35% | 12.37% | 12.37% | 12.35% | 12.35% |
| No. of Shareholders | 9845 | 9837 | 9837 | 9837 | 9837 | 9837 | 9837 | 9837 | 9837 | 9837 | 9835 | 9835 |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 3h - Of Participation in Investor Conference on February 26, 2026 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 3h - Of Participation in Investor Conference on February 26, 2026](https://www.bseindia.com/xml-data/corpfiling/AttachLive/633d3744-474f-40fb-90d8-35a9e71781e5.pdf) |
| 3h - Of Analyst / Institutional Investor(s) Meeting(s) for Non-Deal Roadshow (in-person) at Mumbai. | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 3h - Of Analyst / Institutional Investor(s) Meeting(s) for Non-Deal Roadshow (in-person) at Mumbai.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/27818f7f-ecd8-4349-8706-4b64469b7543.pdf) |
| 29 Jan - Newspaper Advertisement for Postal Ballot Notice | [Announcement under Regulation 30 (LODR)-Newspaper Publication 29 Jan - Newspaper Advertisement for Postal Ballot Notice](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bb2b15c3-6293-4970-a307-176c16c3ed9c.pdf) |
| 29 Jan - Grant of 30,761 performance stock options (exercise price ₹2) granted Jan 29, 2026; vest after three years. | [Intimation Regarding Grant Of Stock Options Under ''Tata Technologies Limited Share Based Long Term Incentive Scheme 2022' 29 Jan - Grant of 30,761 performance stock options (exercise price ₹2) granted Jan 29, 2026; vest after three years.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a2f15142-2cbd-463a-bafe-8cfe3c3444c6.pdf) |
| 28 Feb - Of allotment of 177622 equity shares under Tata Technologies Limited Share Based Long Term Incentive Scheme 2022 | [Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 28 Feb - Of allotment of 177622 equity shares under Tata Technologies Limited Share Based Long Term Incentive Scheme 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b2b60980-4b50-4fe9-a5e4-6c4a862743d5.pdf) |
| 27 Feb - Investor meetings on Feb 27, 2026 with multiple mutual funds; no UPSI shared. | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 27 Feb - Investor meetings on Feb 27, 2026 with multiple mutual funds; no UPSI shared.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/489a7bb0-c6d2-4563-a114-99c36ece71f7.pdf) |
| 23 Jan - Tata Technologies announced InnoVent 2026 winners, awarded ₹4.5 lakh total, offered careers to 42 finalists (Jan 23, 2026) | [Announcement under Regulation 30 (LODR)-Press Release / Media Release 23 Jan - Tata Technologies announced InnoVent 2026 winners, awarded ₹4.5 lakh total, offered careers to 42 finalists (Jan 23, 2026)](https://www.bseindia.com/xml-data/corpfiling/AttachHis/46ff687f-0997-404a-a35b-44a187c69862.pdf) |
| 20s - Of Analyst / Institutional Investor(s) Meeting(s) for Non-Deal Roadshow (in-person) at Singapore. | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 20s - Of Analyst / Institutional Investor(s) Meeting(s) for Non-Deal Roadshow (in-person) at Singapore.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/10fcae71-4a05-451b-b0d5-4ecde01b6dfb.pdf) |
| 2 Mar - Tata Technologies partners with WITTENSTEIN to integrate SAFE RTOS into SDV software stack, announced March 2, 2026. | [Announcement under Regulation 30 (LODR)-Press Release / Media Release 2 Mar - Tata Technologies partners with WITTENSTEIN to integrate SAFE RTOS into SDV software stack, announced March 2, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9fd4c131-7342-420e-941a-17b54826148c.pdf) |
| 1m - Investor presentation for the analyst / investor meeting scheduled on February 26 and February 27, 2026 | [Announcement under Regulation 30 (LODR)-Investor Presentation 1m - Investor presentation for the analyst / investor meeting scheduled on February 26 and February 27, 2026](https://www.bseindia.com/xml-data/corpfiling/AttachLive/ac16c5dc-54e2-4182-959e-46d6f1444e5e.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Oct 2025 | [Concall - Oct 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/31238b41-0514-4032-a05a-d31ab798d08d.pdf) |
| Oct 2024 | [Concall - Oct 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9fa40c46-3907-4a0a-badc-7e137b3d0640.pdf) |
| May 2024 | [Concall - May 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bbe06035-050c-4ea9-bd8d-d7d9c69cec84.pdf) |
| Jul 2025 | [Concall - Jul 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7be868c5-a3e8-4aff-89c0-4b2db88b56d2.pdf) |
| Jul 2024 | [Concall - Jul 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/090c8480-476b-404d-8a19-df18974ecf8a.pdf) |
| Jan 2026 | [Concall - Jan 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c279cb4f-e386-4a6e-9057-b385f4793186.pdf) |
| Jan 2024 | [Concall - Jan 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7bceccfb-e2f3-4a13-ad2f-1d4cf8fcc4ea.pdf) |
| Feb 2026 | [Concall - Feb 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ac16c5dc-54e2-4182-959e-46d6f1444e5e.pdf) |
| Feb 2025 | [Concall - Feb 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/fed1b9d2-790a-458d-a255-e80377410bdb.pdf) |
| Feb 2024 | [Concall - Feb 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a9776ea8-e946-4330-9b73-58e28e381ee6.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2e473420-4779-46e3-b672-d141418a8c43.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/007d2bc3-c5bc-4a1a-8ad1-fb4a43b608f5.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:44:42.574Z.