K. V. Toys IndiaShare price, financial results, shareholding and management
- Market cap
- ₹132 cr
- Stock P/E
- 15.0peers 12.4
- Book value
- ₹86
- Price to book
- 2.44
- EV / operating profit
- -
- Market cap to sales
- 0.76
- ROCE · FY26
- 25.4%
- ROE · FY26
- 27.8%
- ROE, 3-year average
- 27.8%
- Operating margin · FY26
- 7.0%peers 10.8%
- Sales growth, 3 years
- +105.6%
- Profit growth, 3 years
- +75.4%
- Debt to equity
- 0.24peers 0.32
- Borrowings
- ₹13 cr
- Interest cover
- 12.7×
- Cash from business / op. profit
- -108%
- Debtor days
- 51
- Pledged
- 0.00%
- Promoter holding
- 58.54%
- Change in promoter holding
- +0.04 pts
- Shareholders
- 491
- 52-week high / low
- ₹364 / ₹180
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
K. V. Toys India share price chart
Close on 6 Nov 2026 · -7.57% on the day · Vol 51,600
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -20.7%
- 3 months
- -26.1%
- 6 months
- -13.9%
- Traded a day, 20 days
- ₹0.24 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +106% | +75% |
| 3 years, a year | - | - |
| Latest half, H2 FY26 | +71% | +56% |
About K. V. Toys India: business, products and customers
K. V. Toys India sells children's toys such as toy cars, dolls, bubble toys and play guns under its own brands, made for it by partner factories and sold to shops and online stores across India. Its shares trade on BSE SME.
K. V. Toys India sells more than 700 toy products under its own brands, QUCO (with sub-brands for dolls, die-cast cars, soft bullet guns and bubbles) and ZOZO. Fifteen contract manufacturers make the toys from moulds and designs the company provides; it assembles, checks and stores them in over one lakh square feet of space in Maharashtra and also has one owned unit and one joint venture unit. The products are BIS certified and are sold through wholesalers, more than thirty modern trade chains, e-commerce and quick commerce; a first export shipment went to Germany in FY26.
The listed company was formed in April 2023 and was already selling toys in FY25 when it took over the toy business of K.V. Impex, the proprietorship of promoter Namita Narang that had run since 2009, from 31 January 2025 for ₹8.9 cr. Its own FY25 sales were ₹85.6 cr; the offer document puts combined FY25 sales of the KV group at ₹126.0 cr, which is the fairer base for FY26.
Read more about the business
Because the toys are bought in from partner factories, the company owns few machines, but the cost of goods takes almost all of each sale and leaves a thin margin. Growth needs more stock in the warehouse and more credit to wholesalers and chains, so operating cash has gone out in both recent years even as profits were made; that gap was filled first with bank and promoter loans and then with the December 2025 IPO money.
The offer document names Ok Play India as its one listed peer, with FY25 sales of ₹167.8 cr and a small loss, and says it competes with imports from countries such as China, international brands and low-cost local makers. In FY26 it set up Crayonix Stationery (65%) for stationery and gifts and Indo Manufacturers LLP (55%) for its own toy making, and bought 27% of Just Bear, a soft toy company; none had sales in FY26.
From the FY26 annual report filed on BSE and the draft offer document (draft red herring prospectus, September 2025). The June 2026 investor presentation could not be read as text.
Read the deeper study ↓In its favour
- Sales have grown very fast: 106% a year last year.
- It earns a high return on the money it uses: ROCE 25% in FY26.
- It has little debt for its size: debt to equity 0.24.
To watch
- Operating cash flow, negative in FY25 and FY26 as stock and receivables grew, and ₹19.3 cr of IPO money still unspent at March 2026 (Annual report FY26, p.35 to p.36).
- Controls: the auditor found differences between stock and receivable statements filed with ICICI Bank and the books in some quarters, delays in depositing TDS, income tax, PF and ESI, and late filings with the Registrar of Companies (Annual report FY26, p.77 to p.78 and p.90 to p.92).
- The new businesses, Crayonix Stationery, Indo Manufacturers LLP and Just Bear, none with sales in FY26, and the emphasis of matter on Just Bear's payments made before it could start business (Annual report FY26, p.36 and p.54 to p.55).
- A customs show cause notice of August 2024 against K.V. Impex seeking ₹0.72 cr of differential duty for misclassified imports, with a reply filed in July 2025 (Offer document, p.273).
- It paid no dividend in the past year.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
K. V. Toys India revenue and profit growth
Half-yearly results · Profit and lossSales have grown very fast. Last year profit grew more slowly than sales, so the profit kept from each rupee of sales slipped.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew more slowly than sales, so each rupee of sales left a little less profit.
K. V. Toys India half-yearly results
SME companies report every six months · ₹ crore
| H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|
| Sales | 55 | 81 | 93.99 |
| Expenses | 51 | 75 | 87.43 |
| Operating profit | 4 | 6 | 6.56 |
| OPM | 7.0% | 8.0% | 7.0% |
| Interest | 0 | 1 | 0.28 |
| Depreciation | 0 | 0 | 0.25 |
| Profit before tax | 4 | 5 | 6.31 |
| Net profit | 3 | 4 | 4.68 |
K. V. Toys India profit and loss
Full years to March, FY25 to FY26 · ₹ crore, consolidated where reported
| FY25 | FY26 | |
|---|---|---|
| Sales | 85 | 174.79 |
| Expenses | 79 | 161.79 |
| Operating profit | 6 | 13 |
| OPM | 8.0% | 7.0% |
| Other income | 0 | 0.38 |
| Interest | 0 | 1 |
| Depreciation | 0 | 0 |
| Exceptional and other items | · | -0.66 |
| Profit before tax | 6 | 11.72 |
| Tax rate | 16.7% | 25.2% |
| Net profit | 5 | 8.77 |
| EPS ₹ | 9.91 | 13.92 |
| Dividend payout | 0.0% | 0.0% |
The years to FY25 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
K. V. Toys India profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY25 | FY26 | |
|---|---|---|
| Operating margin | 8.0% | 7.0% |
| Tax rate | 16.7% | 25.2% |
| ROCE | · | 25.4% |
| ROE | · | 27.8% |
| Dividend payout | 0.0% | 0.0% |
K. V. Toys India debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It cut its borrowings last year. Its loans are smaller than its own money. Last year the business used more cash than it brought in. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers pay faster than they did in FY25, which frees up the company's money.
Bars below the line are cash going out.
K. V. Toys India balance sheet
At each 31 March · ₹ crore
| FY25 | FY26 | |
|---|---|---|
| Equity capital | 5 | 6 |
| Reserves | 4 | 48 |
| Net worth | 9 | 54 |
| Borrowings | 24 | 13 |
| Other liabilities | 16 | 16 |
| Total liabilities | 49 | 83 |
| Fixed assets | 1 | 2 |
| Capital work in progress | 0 | 0 |
| Investments | 0 | 9 |
| Other assets | 48 | 72 |
K. V. Toys India cash flow
₹ crore
| FY25 | FY26 | |
|---|---|---|
| Cash from operations | -19 | -14 |
| Cash from investing | 2 | -9 |
| Cash from financing | 19 | 25 |
| Net cash flow | 2 | 2 |
Working capital
Days
| FY25 | FY26 | |
|---|---|---|
| Debtor days | 71 | 51 |
| Inventory days | 116 | 60 |
| Days payable | 73 | 36 |
| Cash conversion cycle | 113 | 75 |
| Working capital days | 85 | 86 |
K. V. Toys India peers and competitors
Listed SME companies in the same industryBy sales, K. V. Toys India is number 22 of the 79 listed SME companies in consumer durables.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Durlax Top Surface | 179 | 14.2 | 185 | 12.6 | 12.0% | 0.35 |
| Clay Craft India | 334 | 12.4 | 179 | 27 | 24.0% | 0.30 |
| Pro FX Tech | 119 | 7.9 | 177 | 15.2 | 11.5% | 0.00 |
| Aspire & Innovative Advertising | 21 | 8.4 | 176 | 2.6 | 1.0% | 0.34 |
| K. V. Toys India | 132 | 15.0 | 175 | 8.8 | 7.0% | 0.24 |
| Patdiam Jewellery | 147 | 8.6 | 173 | 17 | 10.0% | 0.32 |
| Esprit Stones | 125 | - | 173 | -2.6 | 3.3% | 0.39 |
| Dev Labtech Venture | 127 | 12.7 | 167 | 10 | 7.0% | 0.06 |
| Essen Speciality Films | 301 | - | 163 | -4 | 0.3% | 0.32 |
| Brandman Retail | 316 | 12.5 | 162 | 25.3 | 17.4% | 0.09 |
| Inflame Appliances | 169 | 28.2 | 150 | 6 | 13.0% | 0.87 |
| Median of the 10 others | 158 | 12.5 | 173 | 11.3 | 10.8% | 0.32 |
K. V. Toys India shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders is about the same.
K. V. Toys India shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Dec 25 | Mar 26 | Sep 26 | |
|---|---|---|---|
| Promoters | 58.34% | 58.50% | 58.54% |
| Foreign investors (FIIs) | 1.45% | - | - |
| Indian institutions (DIIs) | 8.03% | - | - |
| Number of shareholders | 385 | 333 | 491 |
K. V. Toys India study: the business from its own documents
Read from 3 of the company's own documentsK. V. Toys India key facts from the filings
Each figure with the document it comes from
- Sales in FY26
- ₹174.8 cr
- Revenue from operations in the first full year with the K.V. Impex business, against the company's own ₹85.6 cr in FY25.Annual report FY26, p.33 and p.106
- Like-for-like base
- ₹126.0 cr
- Combined FY25 sales of the KV group (the company and K.V. Impex) per the offer document, so FY26 sales were about two fifths higher on that basis (our arithmetic).Offer document, p.117
- Goods and direct costs
- 86.5% of sales
- Materials consumed and direct expenses against FY26 revenue, which leaves a thin margin for everything else (reported results; our arithmetic).Annual report FY26, p.106
- Operating cash flow
- −₹14.0 cr
- Cash used by the business in FY26 to fund stock and credit to buyers, after −₹19.0 cr in FY25.Annual report FY26, p.35
- Stock and money owed to it
- ₹22.6 cr / ₹24.2 cr
- Inventories and trade receivables at March 2026, together more than a quarter of the year's sales.Annual report FY26, p.35
Show 5 more facts
- IPO money unspent
- ₹19.3 cr of ₹40.2 cr
- From 16,80,000 shares sold at ₹239 in December 2025; the unspent part sat in fixed deposits and mutual funds at March 2026.Annual report FY26, p.36, p.52 and p.78
- Loans from promoters
- ₹12.4 cr
- Unsecured, interest-free loans repayable on demand from five promoters and two promoter group members at March 2026 (our arithmetic from the note).Annual report FY26, p.128
- Contract makers
- 15
- OEM partners that make its toys in FY26, up from 11 named in the offer document.Annual report FY26, p.32; Offer document, p.115
- Customer concentration
- 77.5%
- Share of K.V. Impex sales from its top five customers in April 2024 to January 2025; for the company's own FY25 the top ten were 24.1%.Offer document, p.117 to p.118
- Exports
- ₹0.03 cr
- Export sales in FY26, from a first commercial shipment to Germany.Annual report FY26, p.31 and p.121
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
K. V. Toys earns a thin margin by designing toys, having partner factories make them and selling them through a wide spread of shops, chains and online stores.
Its weak spots are low pricing power, the cash tied up in stock and credit to buyers, and a first listed year with several control and compliance lapses.
WatchCan it set its own prices?Little room. Bought-in goods take almost all of each sale, and the company faces imports, big brands and cheap local makers.
AverageHow strong is it against rivals?It has its own brands, moulds and a wide, certified range, but it is small in a crowded market.
WatchWho are its customers?Shops, chains and online platforms, but the business it took over relied heavily on a few buyers, and no newer split is given.
WatchDoes it need a lot of money?Yes. Factories are not its own, but stock and credit to buyers keep absorbing cash as sales grow.
StrongCan it keep finding new work?So far, yes. Sales have risen every year as it added chains, wholesalers and new products, and it is opening new categories.
AverageDo good and bad years swing a lot?Sales have only risen, but the thin margin has moved from period to period.
Who runs K. V. Toys India?
Promoters, directors and officers; tap a name for the background
KNKaran NarangPromoter, Chairman and Managing Director · holds 19.7%
On the board since the company was formed on 4 April 2023. The annual report describes over a decade as a sales leader in the toy industry who led the move into modern trade channels. The annual report states Karan Narang is the son of Vishal Narang and Namita Narang. Director of Crayonix Stationery and additional director of Just Bear. Paid ₹0.32 cr in FY26 and nothing in FY25; has lent the company ₹1.33 cr interest free.
Annual report FY26, p.48 to p.49, p.114 and p.128VNVishal NarangPromoter and Whole Time Director
Secondary education from CBSE, New Delhi (1988); works on production, warehousing, quality and new products. Was Chief Financial Officer until resigning from that post on 21 July 2025. The annual report states Vishal Narang is the father of Karan Narang and husband of Namita Narang. Paid ₹0.32 cr in FY26; has lent the company ₹1.69 cr interest free. The annual report gives two different shareholdings, so none is shown here.
Offer document, p.158; Annual report FY26, p.49 to p.50, p.56 and p.128NNNamita NarangPromoter and Non-Executive Director · holds 9.63%
Bachelor of Arts from Bundelkhand University, Jhansi (1989). Proprietor of K.V. Impex, whose toy business the company took over from 31 January 2025 for ₹8.91 cr; has lent the company ₹5.78 cr interest free, down from ₹7.81 cr a year earlier.
Offer document, p.154 and p.158; Annual report FY26, p.114, p.128 and p.136AJAyush JainPromoter and Executive Director · holds 5.43%
Bachelor of Business Administration from Guru Gobind Singh Indraprastha University, Delhi (2022); works on international expansion, operations and strategic planning. Has lent the company ₹1.05 cr interest free.
Offer document, p.158; Annual report FY26, p.114 and p.128YJYash JainPromoter and employee · holds 5.43%
Account manager with the company since 1 April 2024; cleared the Bachelor of Business Administration examination in May 2025. Has lent the company ₹1.06 cr interest free.
Offer document, p.170; Annual report FY26, p.114 and p.128KCKunal Chiman ShahChief Financial Officer
Chartered accountant; Chief Financial Officer from 21 July 2025. Earlier Chief Financial Officer at H K Jewels and worked at GRP Ltd, Reliance Cement and PwC.
Offer document, p.166; Annual report FY26, p.56SSSachin Shrinivas BhattadIndependent Director
Chartered accountant with certifications in information systems audit and forensic accounting, and a registered insolvency professional, with over 25 years in practice; on the board since 19 February 2025.
Offer document, p.158; Annual report FY26, p.55NNNuren Nirmal LodayaIndependent Director
Bachelor of Commerce, company secretary and Bachelor of Laws, and a certified trademark agent running CS Nuren Lodaya & Associates since July 2021; on the board since 19 February 2025.
Offer document, p.158; Annual report FY26, p.55AAuditorsChange of statutory auditor
The previous statutory auditor, M G M And Company, resigned during FY26; the auditor's report says the outgoing auditor raised no issues or concerns. Shubham D Jain & Co. now audits the company and gave an unmodified opinion on the FY26 accounts, with an emphasis of matter in the group accounts on payments made by the associate Just Bear before it was allowed to start business.
Annual report FY26, p.36, p.39 and p.94K. V. Toys India latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹94 cr (+71%), net profit ₹4.7 cr (+56%) on H2 FY25.
- Shareholding, 30 Sept 2026: promoters 58.50% to 58.54%.
K. V. Toys India announcements
3 on record, latest first; each opens the filing on the exchange
- Company UpdatePursuant to Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith tPDF ↗
- Company UpdateConfirmation Certificate in the matter of Regulation 74(5) of Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018 for the HPDF ↗
- Insider Trading / SASTPursuant to the SEBI(Prohibition of Insider Trading) Regulation, 2015, we hereby inform that the Trading Window of the Company shall remain close w.e.f. 1st OctPDF ↗
K. V. Toys India annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
K. V. Toys India share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on K. V. Toys India's data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (62,80,000 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- ✓Earnings per share moves in line with profit across the years shown.
- ✓Revenue and profit are reported for every year shown, FY25 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about K. V. Toys India
What does K. V. Toys India do?
K. V. Toys India sells children's toys such as toy cars, dolls, bubble toys and play guns under its own brands, made for it by partner factories and sold to shops and online stores across India. Its shares trade on BSE SME.
What is the share price of K. V. Toys India?
₹210 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of K. V. Toys India?
₹132 cr at the close on 6 Nov 2026, on 62,80,000 shares.
What is the P/E of K. V. Toys India?
15.0 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are K. V. Toys India's revenue and profit?
Revenue ₹175 cr and profit after tax ₹9 cr in FY26.
Who are the promoters of K. V. Toys India?
Karan Narang, Vishal Narang, Namita Narang, Ayush Jain, Yash Jain; promoters held 58.54% at 30 Sept 2026.
What is K. V. Toys India's website?
www.kvtoys.com
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Built from 1 offer document, 1 investor presentation, 1 annual report, 3 exchange announcements, 3 shareholding patterns and 2 years of reported results. Every figure carries its source; where the documents are silent, the page says so.