Kokuyo Camlin Limited is an India-based holding company engaged in the business of manufacturing, trading, and selling of stationery products. Founded in 1931 and based in Mumbai, the company was formerly known as Camlin Limited and rebranded to Kokuyo Camlin Limited in January 2012 following the acquisition of a majority stake by Japan's Kokuyo Co., Ltd.
As a subsidiary of Kokuyo Co., Ltd., which boasts over a century of experience in the stationery industry, Kokuyo Camlin benefits from global expertise and technological advancements. Kokuyo of Japan holds approximately 74.99% stake in Kokuyo Camlin, demonstrating a strong commitment to its Indian operations and a stable corporate structure.
Kokuyo Camlin designs, develops, and manufactures a wide range of stationery products. Its diverse product portfolio, comprising over 2,000 items, is broadly classified into three segments:
- School and Education Products: Includes adhesives, brush pens, geometry boxes, oil pastels, pens, plastic crayons, sketch pens, and washable crayons.
- Fine Art and Hobby Materials: Offers art materials, artist's pastels, artist's watercolors, artist's oil colors, brushes, and watercolor pencils for artists and designers.
- Office Stationery Products: Features correction pens, gum and paste, markers and marker inks, and various office accessories for professionals.
The company owns well-known brands like 'Camel' and 'Camlin', which are highly recognized in the Indian market.
Kokuyo Camlin derives a majority of its revenue from India, where it holds a strong market position as a leading stationery manufacturer. Beyond its domestic stronghold, the company has established a significant export presence, shipping its products to countries in the SAARC region, the Middle East, the Far East, Mauritius, Ghana, the United States, Canada, Australia, and Japan. This diversified geographic footprint helps reduce dependency on the domestic market and leverages international growth opportunities.
Kokuyo Camlin Ltd currently has a market capitalization of ₹1,258 crore (as of March 28, 2025). The company's 52-week high share price is ₹230.40 and its 52-week low is ₹91.00. Over the last three years, the company's share price has moved up by 115.27% on BSE, reflecting investor confidence.
However, recent financial performance has shown mixed results:
- Full Year (ended March 2025): Standalone net profit declined 86.7% to ₹5.83 crore on a 6.6% fall in revenue from operations to ₹759.98 crore, compared to the previous year.
- Q4 FY2024-25 (ended March 2025): Net profit declined 57.87% to ₹4.39 crore against ₹10.42 crore in the previous quarter (March 2024). Sales declined 8.01% to ₹199.35 crore from ₹216.72 crore in the previous quarter.
- Market Capitalization: ₹1,258 crore
- TTM Revenue: ₹777.4 crore
- EBITDA: ₹435.63 million
- EBITDA Margin: 9.45%
- P/E Ratio: 86.88
- P/B Ratio: 3.52
- Total Employees: 1,122
The promoter holding in Kokuyo Camlin Ltd has remained stable at 74.99% as of March 2025 (and June 2024). This high and stable promoter holding by Kokuyo Co., Ltd. (Japan) signifies strong commitment and strategic alignment with the Indian operations, ensuring long-term growth and stability.
- Credit Rating: The company has received affirmation in credit rating for its bank facilities at CRISIL A+; Stable / CRISIL A1. The rating watch with developing implications outlook has been removed.
- Auditors: PwC and JHR have been appointed as auditors for the periods 2025-27 and 2025-30, respectively.
- AGM & Dividend: No dividend has been declared, and the Annual General Meeting (AGM) is scheduled for August 8, 2025.
Kokuyo Camlin boasts a rich history spanning over nine decades:
- 1931: Company founded.
- 1987: Camlin became a public limited company and was listed on the Bombay Stock Exchange.
- 1989: Established a technical collaboration with Pilot Corporation, Japan, for the manufacture of 0.5 mm high-polymer leads.
- 1995: Set up a manufacturing facility at Taloja to produce synthetic emulsion and adhesives.
- 2012: Kokuyo S & T Ltd. Japan acquired a majority stake in Camlin Ltd., and the company was rechristened as Kokuyo Camlin Limited.
Despite recent challenges in profitability, Kokuyo Camlin Ltd continues to maintain its position as a leading player in the Indian stationery market. This is strongly supported by its entrenched brand recognition, extensive distribution network, and the strategic backing of its parent company, Kokuyo Japan.
The association with Kokuyo Japan provides access to global technological expertise and best practices, positioning Kokuyo Camlin well for future growth. The company is poised to capitalize on opportunities in the expanding Indian education and office supplies market, leveraging its strong heritage and diversified product portfolio to sustain its market leadership.
