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Kanara Consumer Products ₹875 ▲ 0.0% 1M
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Kanara Consumer Products Unlisted Shares

Investment and Holding Holding company, formerly mattress manufacturing

Kanara Consumer Products Limited, formerly Kurlon Limited, is a Bengaluru-based company that sold its mattress subsidiary in October 2023. It now earns mostly from investments and loans, with a net worth of ₹127,027.47 lakh at March 2025.

Read the full company profile
Indicative price
As of 23 Oct 2026
₹875 ▲ 0.00% in 1 month
Key facts

Kanara Consumer Products share details

Lot size
50 shares
Min. investment
₹43,750
Face value
₹10
Implied market cap
₹1,302 Cr
Shares outstanding
14,878,750
Founded
1962
Headquarters
Bengaluru, Karnataka
ISIN
INE781F01032
CIN
U68100KA1962PLC001443
Lock-in after IPO
6 months
Price history

Kanara Consumer Products share price chart

1Y change
-14.63%
High
₹1,025
Low
₹875

Indicative off-market dealer quotes, not exchange prices. A flat stretch means the quote did not change on those days.

About

About Kanara Consumer Products

Kanara Consumer Products Limited was known as Kurlon Limited until recently. It is an unlisted public company with its registered office in Bengaluru, and its 63rd annual report covers the year ended 31 March 2025. Kurlon is the well-known mattress and bedding brand, but the mattress business now sits with Kurlon Enterprise Limited, which this company sold on 20 October 2023. After that sale the company is largely a holding and investment entity. In FY25 its standalone revenue from operations was just ₹69.95 lakh, while other income was ₹8,295.29 lakh. That other income, mostly returns on its investments, loans and bank deposits, is what drives profit. Standalone profit for the year was ₹8,650.21 lakh, against ₹126,045.25 lakh in FY24, when the gain from selling the subsidiary was booked as an exceptional item. The balance sheet is cash and investment heavy. At 31 March 2025 the company held investments of ₹19,371.32 lakh as non-current and ₹60,675.65 lakh as current, plus cash and bank balances. Borrowings were only ₹370.09 lakh. In FY25 it bought back 7,46,854 equity shares at ₹1,300 per share, then raised money through a rights issue of 7,42,999 shares at ₹10 each. The board recommended a dividend of ₹2.50 per share. The paid-up capital stood at 1,48,78,750 equity shares of ₹10 each. The company has three subsidiaries: Manipal Software & e-Commerce Private Limited, Manipal Natural Private Limited and Kanara Consulting and Service Management Private Limited. It also holds a 99.99% interest in Kanara Global Products LLP. The group is led by Managing Director T Sudhakar Pai, with Jaya S Pai and Deepa S. Pai on the board. On consolidated figures the group's revenue fell sharply in FY25, which the directors attribute to losses in the two Manipal subsidiaries. The figures here are standalone, as audited. The company has not announced an IPO. Its shares trade off-market through unlisted dealers, and the indicative price on IPO Guru is ₹875 for a lot of 50 shares. Such prices are indications from dealers, not exchange quotes, and can differ from actual deal prices.

Strengths

  • Net worth was ₹127,027.47 lakh at 31 March 2025, with borrowings of only ₹370.09 lakh, so the balance sheet carries very little debt.
  • Standalone profit after tax was ₹8,650.21 lakh in FY25, driven by other income of ₹8,295.29 lakh from investments, loans and deposits.
  • Operating cash flow was positive at ₹8,316.04 lakh in FY25, in line with the profit reported.
  • The company holds cash and bank balances of ₹3,021.91 lakh and ₹23,360.48 lakh, plus current investments of ₹60,675.65 lakh, giving it large liquid resources.
  • The board recommended a dividend of ₹2.50 per share for FY25 and completed a buyback at ₹1,300 per share, returning money to shareholders.

Risks

  • Profit fell from ₹126,045.25 lakh in FY24 to ₹8,650.21 lakh in FY25, because FY24 included a one-off exceptional gain from selling Kurlon Enterprise Limited.
  • Revenue from operations is tiny at ₹69.95 lakh. Earnings depend on other income of ₹8,295.29 lakh, which depends on investment returns and interest rates.
  • Consolidated revenue dropped from ₹49,196.52 lakh to ₹10,654.15 lakh in FY25, and the directors cite losses at subsidiaries Manipal Natural and Manipal Software and E-Commerce.
  • Loans given to others stood at ₹9,366.17 lakh as non-current at 31 March 2025, which carries credit risk if repayments are delayed.
  • Operating cash flow was negative ₹54,067.15 lakh in FY24, so cash flows can swing sharply year to year, partly due to tax on the sale gain.
  • Other current liabilities jumped to ₹8,508.79 lakh from ₹13.61 lakh, so a large payable is due within a year.
  • The company is unlisted and has no IPO announced. Off-market share prices are indicative, trades are not on an exchange, and exiting can be hard.
Financials

Kanara Consumer Products financial performance

Revenue, profit and balance-sheet figures by fiscal year.

Revenue & PAT (₹ Cr)
Revenue PAT
Metric FY25Latest FY24
Revenue (₹ Cr) 0.70 0.51
PAT (₹ Cr) 87 1,260
PAT Margin (%) 12,357.14 247,147.06
RoNW (%) 6.81 95.73
EPS (₹) 60.26 846.93
Debt / Equity 0.00 —
Total Assets (₹ Cr) 1,379 1,340
Net Worth (₹ Cr) 1,270 1,317

Swipe the table sideways for earlier years →

Leadership

Management team

T Sudhakar Pai
Managing Director
Managing Director of the company.
Jaya S Pai
Director
Director who retires by rotation at the next AGM.
Deepa S. Pai
Director
Director of the company.
Jyothi Ashish Pradhan
Executive Director
Executive Director of the company.
K Venugopal Shetty
Independent Director
Independent Director on the board.
Santhosh Kamath
Independent Director
Independent Director on the board.
Madhusudan Kudlugi Raghavendrarao
Chief Financial Officer
Chief Financial Officer.
Susheela
Company Secretary
Company Secretary.
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Kanara Consumer Products unlisted shares: common questions

Important disclaimer

Unlisted shares are not traded on stock exchanges. Prices shown are indicative and based on off-market transactions; they may differ from eventual listing or future market prices. Exit liquidity depends on counter-party availability. SEBI mandates a 6-month lock-in on pre-IPO shares post-listing. Gains held beyond 24 months are taxed at 12.5% LTCG (no indexation). IPO Guru is not a SEBI Registered Investment Advisor. Information here is for general awareness, not personalised investment advice. Please consult your tax advisor before investing.

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