Kesoram Industries Ltd, a flagship company of the B.K. Birla Group, is a diversified Indian conglomerate with a rich legacy dating back to its establishment in 1919. The company has a strong presence in multiple sectors, including cement, tires, rayon, and spun pipes, contributing significantly to the Indian industrial landscape. Its cement division, operating under the brand Birla Shakti, is a prominent player in the industry, offering a diverse range of products such as Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), and Portland Slag Cement (PSC), with a robust market presence in the southern and western regions of India. In the tire sector, Kesoram’s Birla Tyres division stands out for its state-of-the-art manufacturing facility in Balasore, Odisha, producing a wide variety of tires catering to trucks, buses, and passenger vehicles. Additionally, the company is involved in manufacturing rayon and TP chemicals, further solidifying its position as a multifaceted industrial entity. With a blend of legacy, innovation, and a commitment to excellence, Kesoram Industries continues to be a vital contributor to India’s economic growth and industrial development.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | |
| Promoters + | 43.40% | 43.34% | 43.34% | 43.34% | 43.34% |
| FIIs + | 7.18% | 8.95% | 8.42% | 7.17% | 5.03% |
| DIIs + | 13.37% | 12.82% | 16.31% | 17.42% | 16.02% |
| Government + | 0.03% | 0.06% | 0.06% | 0.07% | 0.07% |
| Public + | 36.01% | 34.83% | 31.86% | 32.01% | 35.55% |
| No. of Shareholders | 91,486 | 88,669 | 87,730 | 77,389 | 73,751 |
The shareholding pattern of Kesoram Industries exhibited dynamic changes throughout 2023 and 2024, reflecting shifts in investor sentiment and market trends. Promoters maintained a dominant position with a consistent stake, starting at 43.40% in December 2023, marginally reducing to 43.34% by March 2024, and remaining steady through the rest of the year. Foreign Institutional Investors (FIIs), however, showed significant fluctuations, holding 7.18% in December 2023, peaking at 8.95% in March 2024, and subsequently declining to 5.03% by December 2024. Domestic Institutional Investors (DIIs) demonstrated a contrasting trend, increasing their stake from 13.37% in December 2023 to 17.42% by September 2024, before slightly retreating to 16.02% by year-end. The government’s holdings, though minimal, saw a marginal rise from 0.03% in December 2023 to 0.07% by December 2024. Public shareholding experienced notable volatility, starting at 36.01% in December 2023, dipping to a low of 31.86% in June 2024, and rebounding to 35.55% by December 2024. Furthermore, the number of shareholders steadily declined from 91,486 in December 2023 to 73,751 by December 2024, indicating consolidation in the investor base.
Recent News on Kesoram Industries
In a significant development for the Indian cement industry, UltraTech Cement, a leading entity under the Aditya Birla Group, has announced the acquisition of Kesoram Industries from the BK Birla Group. The acquisition, valued at approximately ₹7,600 crore, is set to be effective from March 1, 2025, and will be executed through a share swap ratio of 1:522. This strategic move will bolster UltraTech Cement’s position as a market leader by increasing its cement production capacity to an impressive 149 million tonnes per annum (MTPA). The acquisition underscores UltraTech’s commitment to strengthening its foothold in the Indian cement sector, leveraging Kesoram Industries’ strong presence in the southern and western regions of the country. This landmark deal is expected to reshape the competitive dynamics of the industry while enhancing UltraTech Cement’s production capabilities and market reach.
Below are the trading platforms that you can use to purchase Kesoram Industries shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| March 2025 | 241.77 | 185.98 |
| April 2025 | 239.38 | 184.13 |
| May 2025 | 232.40 | 178.77 |
| June 2025 | 242.86 | 186.82 |
| July 2025 | 238.10 | 183.15 |
| August 2025 | 245.46 | 188.82 |
| September 2025 | 248.41 | 191.08 |
| October 2025 | 254.87 | 196.05 |
| November 2025 | 261.24 | 200.95 |
| December 2025 | 272.99 | 210.00 |
As we step into 2025, Kesoram Industries shares are projected to demonstrate consistent growth throughout the year. In March 2025, the maximum price is expected to reach ₹241.77, while the minimum price may hover around ₹185.98. By December 2025, Kesoram Industries shares are anticipated to peak at ₹272.99, with a minimum price of ₹210.00.
| When | Maximum Price | Minimum Price |
| January 2026 | 281.18 | 216.30 |
| February 2026 | 274.16 | 210.89 |
| March 2026 | 279.64 | 215.11 |
| April 2026 | 285.35 | 219.50 |
| May 2026 | 282.52 | 217.32 |
| June 2026 | 289.58 | 222.76 |
| July 2026 | 283.90 | 218.39 |
| August 2026 | 292.69 | 225.14 |
| September 2026 | 298.54 | 229.65 |
| October 2026 | 306.30 | 235.62 |
| November 2026 | 313.96 | 241.51 |
| December 2026 | 321.81 | 247.54 |
As we move into 2026, Kesoram Industries shares are expected to display notable growth over the year. In January 2026, the maximum price is projected to reach ₹281.18, while the minimum price may stand at ₹216.30. By December 2026, Kesoram Industries shares are anticipated to peak at ₹321.81, with a minimum price of ₹247.54.
| When | Maximum Price | Minimum Price |
| January 2027 | 325.03 | 250.02 |
| February 2027 | 333.36 | 256.43 |
| March 2027 | 346.36 | 266.43 |
| April 2027 | 339.57 | 261.21 |
| May 2027 | 329.68 | 253.60 |
| June 2027 | 344.51 | 265.01 |
| July 2027 | 337.76 | 259.81 |
| August 2027 | 348.21 | 267.85 |
| September 2027 | 360.39 | 277.23 |
| October 2027 | 369.76 | 284.43 |
| November 2027 | 379.01 | 291.54 |
| December 2027 | 388.48 | 298.83 |
| When | Maximum Price | Minimum Price |
| January 2028 | 396.25 | 304.81 |
| February 2028 | 406.41 | 312.62 |
| March 2028 | 422.26 | 324.82 |
| April 2028 | 413.98 | 318.45 |
| May 2028 | 401.92 | 309.17 |
| June 2028 | 420.01 | 323.09 |
| July 2028 | 411.78 | 316.75 |
| August 2028 | 424.51 | 326.55 |
| September 2028 | 439.37 | 337.98 |
| October 2028 | 450.79 | 346.76 |
| November 2028 | 462.06 | 355.43 |
| December 2028 | 473.61 | 364.32 |
| When | Maximum Price | Minimum Price |
| January 2029 | 483.09 | 371.60 |
| February 2029 | 495.47 | 381.13 |
| March 2029 | 514.80 | 396.00 |
| April 2029 | 504.70 | 388.23 |
| May 2029 | 490.00 | 376.92 |
| June 2029 | 512.05 | 393.89 |
| July 2029 | 502.01 | 386.16 |
| August 2029 | 517.54 | 398.11 |
| September 2029 | 535.65 | 412.04 |
| October 2029 | 549.58 | 422.75 |
| November 2029 | 563.32 | 433.32 |
| December 2029 | 577.40 | 444.16 |
| When | Maximum Price | Minimum Price |
| January 2030 | 588.95 | 453.04 |
| February 2030 | 604.05 | 464.65 |
| March 2030 | 627.61 | 482.78 |
| April 2030 | 615.30 | 473.31 |
| May 2030 | 597.38 | 459.52 |
| June 2030 | 624.26 | 480.20 |
| July 2030 | 612.02 | 470.79 |
| August 2030 | 630.95 | 485.35 |
| September 2030 | 653.03 | 502.33 |
| October 2030 | 670.01 | 515.40 |
| November 2030 | 686.76 | 528.28 |
| December 2030 | 703.93 | 541.49 |
As we progress into 2030, Kesoram Industries shares are poised for significant growth throughout the year. In January 2030, the maximum price is expected to reach ₹588.95, with the minimum price projected at ₹453.04. By December 2030, the maximum price is anticipated to rise to ₹703.93, while the minimum price may stand at ₹541.49, reflecting consistent upward momentum and strong market performance over the year.
Financial Condition of Kesoram Industries
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 2,646 | 2,653 | 3,606 | 3,778 | 3,987 | 1,265 |
| Expenses + | 2,417 | 2,278 | 3,094 | 3,507 | 3,635 | 1,215 |
| Operating Profit | 229 | 375 | 512 | 271 | 352 | 50 |
| OPM % | 9% | 14% | 14% | 7% | 9% | 4% |
| Other Income + | 40 | -148 | 14 | -103 | -1 | -138 |
| Interest | 344 | 276 | 502 | 450 | 488 | 145 |
| Depreciation | 113 | 118 | 112 | 103 | 137 | 58 |
| Profit before tax | -188 | -167 | -87 | -385 | -274 | -291 |
| Tax % | 0% | -184% | -11% | -50% | 40% | |
| Net Profit + | -188 | 140 | -77 | -194 | -384 | -445 |
| EPS in Rs | -8.85 | 5.72 | -3.18 | -6.25 | -12.36 | -14.33 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
Kesoram Industries’ financial performance over recent years showcases a mixed trajectory, reflecting both growth and challenges. The company’s sales have steadily increased, moving from ₹2,646 crore in March 2020 to ₹3,987 crore in March 2024, with the trailing twelve months (TTM) recording sales of ₹1,265 crore. However, this growth in revenue has been accompanied by rising expenses, which climbed from ₹2,417 crore in March 2020 to ₹3,635 crore in March 2024, leaving an operating profit margin (OPM) that fluctuated between 7% and 14%, with the TTM OPM at a modest 4%.
Despite an improvement in sales, Kesoram Industries has faced persistent challenges with profitability. The company recorded a net loss of ₹384 crore in March 2024 and an even higher loss of ₹445 crore in the TTM period. The significant interest burden, rising from ₹344 crore in March 2020 to ₹488 crore in March 2024, along with fluctuating other income figures, has further pressured profitability. Earnings per share (EPS) have consistently remained negative, with the TTM EPS at ₹-14.33. Moreover, the company has not declared any dividends during this period, highlighting its ongoing financial constraints. While Kesoram Industries demonstrates resilience through its expanding sales, controlling costs and addressing its interest burden will be critical for future financial stability.
FAQS
As of March 3rd, 2025, the share price of Kesoram Industries is around INR ₹200.
As per our analysis, Kesoram Industries in 2025 is expected to trade between ₹178.77 to ₹272.99.
As per our analysis, Kesoram Industries share price target for 2030 would be somewhere between ₹453.04 and ₹703.93.
You can invest in Kesoram Industries shares through a stockbroker, either online or offline. You will need to open a Demat account and trading account to buy and sell shares. We recommend Groww and Paytm Money.
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Conclusion
Kesoram Industries has demonstrated its resilience and versatility as a multifaceted industrial entity, with significant contributions in cement, tires, and chemicals. While its sales have grown steadily over recent years, challenges such as rising expenses and fluctuating profitability have impacted its financial stability. The company’s shareholding patterns in 2023 and 2024 highlight shifting investor dynamics, with a steady promoter stake and notable variations among FIIs, DIIs, and public holdings. The acquisition by UltraTech Cement, set for March 2025, marks a pivotal moment, promising to reshape the company’s future prospects. Supported by a rich legacy and a focus on innovation, Kesoram Industries remains a key player in India’s industrial landscape, poised for further growth and transformation in the coming years.
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