KIOCL, originally established as Kudremukh Iron Ore Company Limited, is a prominent public sector undertaking (PSU) under India’s Ministry of Steel. Founded in 1976, the company plays a vital role in India’s iron and steel sector by focusing on the mining and beneficiation of low-grade iron ore, as well as producing high-quality iron-oxide pellets. Headquartered in Bengaluru, Karnataka, KIOCL’s primary production operations are based in Mangalore, where it operates a significant iron-oxide pellet plant and blast furnace unit.
KIOCL’s pellet plant, with an annual production capacity of 3.5 million tonnes, meets stringent global quality standards. These standards make KIOCL’s pellets ideal for advanced steel production processes, providing critical materials to high-tech steel plants around the world. Through its focus on international quality and consistent production, KIOCL has positioned itself as a trusted supplier in the global steel industry.
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | |
| Promoters + | 99.03% | 99.03% | 99.03% | 99.03% | 99.03% |
| FIIs + | 0.00% | 0.00% | 0.01% | 0.00% | 0.00% |
| DIIs + | 0.13% | 0.10% | 0.09% | 0.08% | 0.07% |
| Public + | 0.84% | 0.86% | 0.86% | 0.88% | 0.88% |
| No. of Shareholders | 21,857 | 27,539 | 29,345 | 30,882 | 31,684 |
The shareholding pattern of KIOCL shows a consistent dominance by promoters, holding a stable 99.03% stake from September 2023 through September 2024. This strong promoter presence indicates KIOCL’s controlled ownership structure with minimal changes over the observed period. Foreign Institutional Investors (FIIs) held a very small and fluctuating stake, reaching a minor 0.01% in March 2024, while Domestic Institutional Investors (DIIs) gradually decreased their holdings from 0.13% in September 2023 to 0.07% by September 2024. Public shareholding, however, saw a slight upward trend, from 0.84% in September 2023 to 0.88% by September 2024, reflecting modest interest in KIOCL among individual investors. Meanwhile, the number of shareholders has steadily increased, reaching 31,684 by September 2024, indicating growing engagement from retail investors, albeit in small volumes compared to the substantial promoter holding.
Below are the trading platforms that you can use to purchase KIOCL shares:
- Zerodha
- Upstox
- Groww
- AngelOne
- ICICIDirect
| When | Maximum Price | Minimum Price |
| November 2024 | 351.05 | 305.26 |
| December 2024 | 354.56 | 308.32 |
In November, the maximum price for KIOCL is expected to peak at ₹351.05, with a minimum value of ₹305.26. Following this, as we step into December, the maximum price is anticipated to rise slightly to ₹354.56, while the minimum price could see a small increase to ₹308.32.
| When | Maximum Price | Minimum Price |
| January 2025 | 358.11 | 275.47 |
| February 2025 | 361.73 | 278.25 |
| March 2025 | 369.32 | 284.10 |
| April 2025 | 365.67 | 281.28 |
| May 2025 | 355.02 | 273.09 |
| June 2025 | 370.99 | 285.38 |
| July 2025 | 363.72 | 279.78 |
| August 2025 | 374.97 | 288.44 |
| September 2025 | 379.47 | 291.90 |
| October 2025 | 389.33 | 299.49 |
| November 2025 | 399.07 | 306.97 |
| December 2025 | 417.02 | 320.79 |
As we step into 2025, KIOCL’s stock prices are expected to display a range of growth throughout the year. In January, the maximum price is projected to reach ₹358.11, with a minimum of ₹275.47. Moving through February and March, prices are likely to increase, with highs of ₹361.73 and ₹369.32, while minimum prices hover around ₹278.25 and ₹284.10. By mid-year, in June, KIOCL could see prices rise to a maximum of ₹370.99 and a minimum of ₹285.38. The upward trend is anticipated to continue, with August reaching ₹374.97 as the high. As we step into the latter months, October may bring a high of ₹389.33, and November is forecasted to achieve ₹399.07 as its peak. Closing out the year, December’s maximum price could reach ₹417.02, with a minimum of ₹320.79.
| When | Maximum Price | Minimum Price |
| January 2026 | 429.53 | 330.41 |
| February 2026 | 418.80 | 322.15 |
| March 2026 | 427.17 | 328.59 |
| April 2026 | 435.89 | 335.30 |
| May 2026 | 431.57 | 331.98 |
| June 2026 | 442.36 | 340.28 |
| July 2026 | 433.69 | 333.61 |
| August 2026 | 447.10 | 343.93 |
| September 2026 | 456.05 | 350.80 |
| October 2026 | 467.90 | 359.92 |
| November 2026 | 479.60 | 368.92 |
| December 2026 | 491.59 | 378.15 |
| When | Maximum Price | Minimum Price |
| January 2027 | 496.51 | 381.93 |
| February 2027 | 509.24 | 391.72 |
| March 2027 | 529.10 | 407.00 |
| April 2027 | 518.72 | 399.02 |
| May 2027 | 503.61 | 387.40 |
| June 2027 | 526.28 | 404.83 |
| July 2027 | 515.96 | 396.89 |
| August 2027 | 531.91 | 409.17 |
| September 2027 | 550.53 | 423.49 |
| October 2027 | 564.85 | 434.50 |
| November 2027 | 578.97 | 445.36 |
| December 2027 | 593.44 | 456.49 |
| When | Maximum Price | Minimum Price |
| January 2028 | 605.31 | 465.62 |
| February 2028 | 620.83 | 477.56 |
| March 2028 | 645.04 | 496.19 |
| April 2028 | 632.40 | 486.46 |
| May 2028 | 613.98 | 472.29 |
| June 2028 | 641.60 | 493.54 |
| July 2028 | 629.02 | 483.86 |
| August 2028 | 648.48 | 498.83 |
| September 2028 | 671.18 | 516.29 |
| October 2028 | 688.63 | 529.71 |
| November 2028 | 705.84 | 542.96 |
| December 2028 | 723.49 | 556.53 |
| When | Maximum Price | Minimum Price |
| January 2029 | 737.96 | 567.66 |
| February 2029 | 756.88 | 582.21 |
| March 2029 | 786.40 | 604.92 |
| April 2029 | 770.98 | 593.06 |
| May 2029 | 748.52 | 575.79 |
| June 2029 | 782.21 | 601.70 |
| July 2029 | 766.87 | 589.90 |
| August 2029 | 790.59 | 608.14 |
| September 2029 | 818.26 | 629.43 |
| October 2029 | 839.53 | 645.79 |
| November 2029 | 860.52 | 661.94 |
| December 2029 | 882.03 | 678.49 |
| When | Maximum Price | Minimum Price |
| January 2030 | 899.67 | 692.06 |
| February 2030 | 922.74 | 709.80 |
| March 2030 | 958.73 | 737.48 |
| April 2030 | 939.93 | 723.02 |
| May 2030 | 912.55 | 701.96 |
| June 2030 | 953.62 | 733.55 |
| July 2030 | 934.92 | 719.17 |
| August 2030 | 963.84 | 741.41 |
| September 2030 | 997.57 | 767.36 |
| October 2030 | 1,023.51 | 787.31 |
| November 2030 | 1,049.09 | 807.00 |
| December 2030 | 1,075.32 | 827.17 |
As we move into 2030, KIOCL’s stock prices are anticipated to follow a steady upward trajectory. Starting in January, the maximum price is expected to reach ₹899.67, with a minimum of ₹692.06. February may see an increase, with the price range shifting to a high of ₹922.74 and a low of ₹709.80. This upward momentum is likely to carry through March, reaching a peak of ₹958.73. By mid-year in June, KIOCL’s stock could climb to a maximum of ₹953.62, while the minimum is projected at ₹733.55. As we approach the later months, September might reach a high of ₹997.57, and by October, the maximum price could surpass ₹1,023.51. Moving into the year-end, KIOCL’s price is forecasted to reach its peak for 2030, with November hitting ₹1,049.09, followed by a high of ₹1,075.32 in December.
Financial Condition of KIOCL
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 1,938 | 2,376 | 3,006 | 1,543 | 1,854 | 1,085 |
| Expenses + | 1,955 | 2,025 | 2,626 | 1,708 | 1,926 | 1,191 |
| Operating Profit | -18 | 352 | 380 | -164 | -72 | -105 |
| OPM % | -1% | 15% | 13% | -11% | -4% | -10% |
| Other Income + | 119 | 101 | 74 | 80 | 50 | 50 |
| Interest | 10 | 15 | 12 | 14 | 15 | 15 |
| Depreciation | 27 | 27 | 31 | 25 | 27 | 32 |
| Profit before tax | 64 | 410 | 411 | -123 | -64 | -102 |
| Tax % | 32% | 27% | 24% | -20% | 31% | |
| Net Profit + | 43 | 301 | 313 | -98 | -83 | -124 |
| EPS in Rs | 0.7 | 4.96 | 5.16 | -1.61 | -1.37 | -2.04 |
| Dividend Payout % | 100% | 33% | 34% | 0% | 0% |
KIOCL’s financial trajectory from 2020 to 2024 reflects significant variations in both revenue and profitability, largely shaped by market fluctuations and rising operational costs. Sales volumes rose from ₹1,938 crore in 2020 to a peak of ₹3,006 crore in 2022, driven by strong demand in that period. However, sales dropped considerably in subsequent years, settling at ₹1,854 crore in 2024 and further decreasing to ₹1,085 crore in the trailing twelve months (TTM). This decline in revenue was accompanied by high expenses, which consistently increased across these years. While expenses were ₹1,955 crore in 2020, they grew alongside sales until reaching a high of ₹2,626 crore in 2022. In later years, despite reduced revenue, expenses remained substantial, putting pressure on the company’s profit margins.
The operating profit figures and margins over this period reveal the impact of these cost pressures. In 2022, when sales peaked, KIOCL managed to achieve an operating profit of ₹380 crore with an operating profit margin (OPM) of 13%. However, in other years, the company faced negative operating profits, with OPMs dropping to -1% in 2020, -11% in 2023, and -4% in 2024. The TTM performance further reflects operational strain with an OPM of -10%, indicating a need for cost control and efficiency improvements. Additionally, KIOCL’s other income sources, while helpful, were not sufficient to offset these high operational costs, leading to varied profitability outcomes.
KIOCL’s net profit and dividend payout trends reveal a company responding to its financial challenges. The peak net profit of ₹313 crore in 2022 contrasts sharply with net losses of ₹98 crore in 2023, ₹83 crore in 2024, and ₹124 crore in the TTM. Earnings per share (EPS) followed this trend, from ₹5.16 in 2022 to negative figures in recent years. Dividend payouts were high in profitable years, with a 100% payout in 2020 and 33-34% in 2021 and 2022, but were halted as the company faced losses in 2023 and 2024. KIOCL’s performance indicates a critical need for strategic measures to manage costs, maintain profitability, and adapt to the dynamic market environment.
FAQS
As of November 04th, 2024, the current share price of KIOCL is ₹316.
According to our analysis, KIOCL could reach a maximum of ₹417.02 by the end of 2025.
The share price target for KIOCL in 2030 is projected to range between ₹692.06 and ₹1,075.32.
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Conclusion
In conclusion, KIOCL’s financial performance highlights a challenging period marked by fluctuating revenues and sustained operational pressures. Despite reaching peak sales in 2022, the company’s profitability has been hindered by high expenses, resulting in negative operating margins in recent years. The dominance of promoter shareholding at 99.03% provides KIOCL with a stable ownership structure, though public and institutional interest remains low. KIOCL’s stock price projections indicate potential for gradual growth from 2024 to 2030, with prices expected to reach new highs by the end of the decade. Moving forward, the company may need to implement cost management strategies and efficiency improvements to improve its financial health and support its position in the global steel industry.
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