Kineco Limited Unlisted Share: Price, Financials & Investment Guide
01 September 2025 · Sachin Gadekar
Everything You Need to Know About Kineco Limited’s Unlisted Shares, Price History, and Growth Potential.
Introduction
Pre-IPO and unlisted shares are gaining popularity among investors who want to participate in a company’s growth journey before it lists on the stock exchange. One such company attracting attention is Kineco Limited, a Goa-based leader in composites manufacturing with strong ties to the aerospace, defence, and railway sectors.
This article provides an in-depth look at Kineco Limited unlisted share price, financials, ownership structure, strengths, weaknesses, and investment outlook, helping investors evaluate whether it’s a smart pre-IPO bet.
Company Overview: Kineco Limited
Founded in 1994 as Mass Kinematics Pvt. Ltd., Kineco started with fibre-reinforced plastic (FRP) equipment and gradually expanded into advanced composites. Over the years, it has evolved into a specialist manufacturer serving:
Aerospace & Defence
Railways
Automotive
Industrial sectors
In 2016, INL (through Helios Strategic Investments) acquired 51% of Kineco for ₹39 crore. By July 2024, INL fully exited, and new financial investors infused ~₹88 crore, improving the balance sheet and strengthening its capital structure.
Kineco also operates two strategic joint ventures:
Kineco Kaman Composites India (KKCI): A Goa-based JV with Kaman Aerospace (USA), catering to aerospace and defence.
Exel Composites JV (2021): With Finland’s Exel Composites, after hiving off its pultrusion division.
Kineco Limited Unlisted Share Price & Fundamentals
| Metric | Details |
|---|---|
| Current Price | ₹3,000 |
| Market Cap | ₹1,879.25 Cr |
| ISIN | INE139Y01018 |
| Face Value | ₹10 |
| P/E Ratio | 256.41 |
| EPS | 11.7 |
| P/B Ratio | 36.21 |
| Book Value | ₹82.84 |
| Debt/Equity Ratio | 2.32 |
Kineco Limited Financial Performance
| Particulars | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|
| Revenue from Operations | 174.52 | 167.22 | 201.65 | 145.06 |
| Operating Expenses | 148.44 | 160.15 | 179.54 | 133.05 |
| Operating Profit | 26.08 | 7.07 | 22.11 | 12.01 |
| Operating Margin (%) | 14.94% | 4.23% | 10.97% | 8.28% |
| Profit Before Tax | 11.11 | -8.68 | 11.55 | 7.21 |
| Profit After Tax | 7.67 | -8.16 | 6.86 | 1.60 |
| Diluted EPS | 11.74 | -13.62 | 9.93 | 3.07 |
Strengths & Weaknesses
Strengths of Kineco Limited
Improved Capital Structure – Equity infusion of ₹88 Cr reduced debt and improved interest coverage from 0.7x (FY23) to 2.2x (FY24).
Profitability Turnaround – Shifted from losses in FY23 to healthy profits in FY24 with EBITDA margins improving from 4.2% to 15%.
Strong Order Book – ~₹100 Cr worth of unexecuted orders from railways and defence, ensuring near-term revenue visibility.
Industry Expertise – Operating since 1994 with technical expertise and JVs with international players like Kaman Aerospace & Exel Composites.
Weaknesses of Kineco Limited
Moderate Scale of Operations – Revenue at ₹175 Cr (FY24) is relatively small compared to larger listed peers.
Customer Concentration Risk – 80% of revenues depend on the railway sector (Integral Coach Factory), which poses a sectoral risk.
Margin Pressure – Operates in a competitive bidding environment with limited pricing flexibility, making margins vulnerable to raw material price fluctuations.
Why Invest in Kineco Limited Unlisted Shares?
Exposure to India’s growing aerospace & defence sector.
Turnaround in profitability with improving EBITDA margins.
Backed by strong institutional investors.
Potential IPO candidate in the medium term.
However, investors must consider liquidity risks, valuation concerns (high P/E), and customer concentration before investing.
How to Buy Kineco Limited Unlisted Shares?
You can purchase Kineco Limited unlisted shares via trusted platform ultra app that specialize in pre-IPO investments and unlisted shares. The process includes:
Registering and completing KYC.
Selecting Kineco shares from the available inventory.
Executing the transaction via bank transfer & Demat credit.
Tracking the investment until liquidity is available through sale or IPO.
Conclusion
Kineco Limited unlisted shares present a promising investment case for those looking to diversify into India’s aerospace, defence, and railway growth story. With a strong financial turnaround, improving balance sheet, and strategic global partnerships, the company is well-placed for expansion.
That said, potential investors should weigh the risks of valuation, sector dependence, and liquidity before committing capital. For long-term investors with higher risk tolerance, Kineco could be a rewarding pre-IPO bet.
FAQs on Kineco Limited Unlisted Share
Q1. What is the current Kineco Limited unlisted share price?
The current unlisted share price is around ₹3,000.
Q2. Is Kineco Limited profitable?
Yes, Kineco turned around in FY24 with a net profit of ₹7.67 Cr, after reporting losses in FY23.
Q3. What sectors does Kineco serve?
Kineco serves railways, aerospace & defence, automotive, and industrial sectors.
Q4. What are the risks of investing in Kineco unlisted shares?
Key risks include customer concentration (railways), small scale of operations, and margin volatility.
Q5. Will Kineco Limited launch an IPO?
While no official timeline is announced, strong financial recovery and institutional support make it a potential IPO candidate in the coming years.
Q6. How are unlisted shares taxed in India?
Held <24 months → Short-term capital gains tax.
Held >24 months → Long-term capital gains tax (20% with indexation).
Q7. How can I buy Kineco Limited unlisted shares?
You can buy them through trusted platforms like ultra by completing KYC and executing the transaction via your Demat account.