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SKL — Shri Krishana Overseas PLC

Graham's number is √(22.5 × EPS × BVPS): a P/E ceiling of 15 times a P/B ceiling of 1.5, applied to one year's earnings and book value. The Graham number primer works through it. It is a computation, not a recommendation.

Tests: Graham's criteria for industrial companies. Shri Krishana Overseas manufactures corrugated boxes at Athi River for the floriculture, dairy, edible oils, pharmaceutical and confectionery trades, so Graham's industrial tests apply: sales for size, and the current ratio and long-term debt against working capital for strength. It listed by introduction on the NSE's SME segment in July 2025 and the profile holds one year: the results for the year ended 31 December 2025 are the only set it has published as a listed company. Per-share figures rest on 50,500,000 shares, being the 10,100,000 shillings of share capital over the KES 0.20 par value the NSE price list states. The earnings per share the company prints, 4.10, does not use that count: it implies 1,010,000 shares, the pre-listing register of KShs 10 shares, and the 2024 comparative of 10.07 rests on the same basis, so the note carries the old denominator forward rather than mistyping it. The accounts state share capital but never state a share count. Three primary records give the listed count instead — the company's own share capital of 10,100,000, the KShs 0.20 par value the NSE states for the security, and the Capital Markets Authority's record of the July 2025 listing of 50.5 million ordinary shares — so earnings per share here are profit over 50,500,000 shares, with the company's printed figure and the conflict set out in the note. The profit itself is unchanged. Working capital is negative and a 117.9m shilling facility funds the Kissaju plant, so the strength tests are the ones to watch.

year to 31 Dec 2025

Showing FY2025

√(22.5 × 0.08 × 1.45) = 1.62

The Graham number for FY2025, from that year's EPS and BVPS. Tap a figure below for its source and date.

Discount to Graham number: −455.8% at the results-day price of 8.98. Positive means the price was below the Graham number; negative means above.

The figures

Per share (KES)

Earnings (EPS)
0.08

computed: profit for the year 4,137,172 shillings over 50,500,000 shares, which gives 0.082. The statements print 4.10, struck on 1,010,000 shares — the pre-listing register of KShs 10 shares, and the same basis as the 2024 comparative of 10.07 — and they carry no share-count note. The listed count is what the company's own share capital of 10,100,000 gives at the KShs 0.20 par value the NSE states, and it is what the Capital Markets Authority records for the July 2025 listing. The profit is the company's own and is unchanged; only the denominator differs · basic · computed: profit for the year 4,137,172 ÷ 50,500,000 shares, Financial statements for the year ended 31 Dec 2025, profit and loss account; share count from CMA Bi-Annual Capital Markets Performance Report April–September 2025, p.24, and the KShs 0.20 par value in the NSE daily price list · 4 May 2026

Book value (BVPS)
1.45

ordinary share capital 10,100,000, revaluation surplus 38,955,302 and accumulated profits 24,002,543; the company reports no subsidiaries and no non-controlling interests · attributable · computed: total equity 73,057,845 shillings ÷ 50,500,000 shares, Financial statements for the year ended 31 Dec 2025, balance sheet · 4 May 2026

Dividend (DPS)
Not compiled
Price on results day
8.98

NSE daily price list VWAP, the exchange's official end-of-day price. The statements carry no board approval or signature date and the PDF was created on 30 Apr 2026 at 21:58, after the market closed; 1 May is a public holiday in Kenya and the exchange published no price list that day, so the first trading day after is Monday 4 May 2026 · NSE daily price list 2026-05-04, p.2 · 4 May 2026

Size and balance sheet (KES m)

Revenue
351.1

revenue of 351,093,966 shillings, up 13.5% from 309,864,386, with the bulk of the growth in the fourth quarter; gross profit fell 10% to 87,823,540 on higher input costs · Financial statements for the year ended 31 Dec 2025, profit and loss account · 4 May 2026

Current assets
234.5

inventory 62,469,885, trade and other receivables 164,129,456, cash at bank and in hand 7,225,241 and current tax receivable 715,701 · Financial statements for the year ended 31 Dec 2025, balance sheet · 4 May 2026

Current liabilities
261.3

trade and other payables 213,867,871, current borrowings 42,371,333 and current tax payable 5,048,229; the company states net current assets of negative 26,747,150 · Financial statements for the year ended 31 Dec 2025, balance sheet · 4 May 2026

Long-term debt
120.0

non-current borrowings of 120,000,557 shillings as broken out, up from 71,884,251; deferred tax of 3,606,765 sits outside this figure. The company says a long-term loan facility of 117.9m part-funds the Kissaju plant, where capital work in progress stood at 131.9m at the year end · Financial statements for the year ended 31 Dec 2025, balance sheet and outlook commentary · 4 May 2026

KES per US$
129.18

CBK daily exchange rates (mean) · 4 May 2026

Computed

EPS, three-year average
Not compiled
P/E on three-year EPS
Not compiled
P/B
6.19

computed: price ÷ BVPS · 4 May 2026

Dividend yield
Not compiled
Current ratio
0.90

computed: current assets ÷ current liabilities · 4 May 2026

Price ÷ Graham number
5.56×

computed: price ÷ Graham number · 4 May 2026

Discount to Graham number
−455.8%

computed: (Graham number − price) ÷ Graham number · 4 May 2026

Graham's tests

  1. Adequate size

    Revenue of at least US$100m

    Not met
  2. Financial strength

    Current ratio of at least 2; long-term debt no more than working capital

    Not met
  3. Earnings stability

    Positive EPS in each of the past 10 years

    No result: data not compiled
  4. Dividend record

    A dividend paid in each of the past 20 years

    No result: data not compiled
  5. Earnings growth

    EPS up at least one-third over 10 years, on three-year averages

    No result: data not compiled
  6. Moderate P/E

    Price no more than 15 × three-year average EPS

    No result: data not compiled
  7. Moderate P/B

    Price no more than 1.5 × BVPS, or P/E × P/B no more than 22.5

    No result: data not compiled

Sources and notes

  • Earnings (EPS): basic · computed: profit for the year 4,137,172 ÷ 50,500,000 shares, Financial statements for the year ended 31 Dec 2025, profit and loss account; share count from CMA Bi-Annual Capital Markets Performance Report April–September 2025, p.24, and the KShs 0.20 par value in the NSE daily price list · 4 May 2026 (computed: profit for the year 4,137,172 shillings over 50,500,000 shares, which gives 0.082. The statements print 4.10, struck on 1,010,000 shares — the pre-listing register of KShs 10 shares, and the same basis as the 2024 comparative of 10.07 — and they carry no share-count note. The listed count is what the company's own share capital of 10,100,000 gives at the KShs 0.20 par value the NSE states, and it is what the Capital Markets Authority records for the July 2025 listing. The profit is the company's own and is unchanged; only the denominator differs)
  • Book value (BVPS): attributable · computed: total equity 73,057,845 shillings ÷ 50,500,000 shares, Financial statements for the year ended 31 Dec 2025, balance sheet · 4 May 2026 (ordinary share capital 10,100,000, revaluation surplus 38,955,302 and accumulated profits 24,002,543; the company reports no subsidiaries and no non-controlling interests)
  • Price on results day: NSE daily price list 2026-05-04, p.2 · 4 May 2026 (NSE daily price list VWAP, the exchange's official end-of-day price. The statements carry no board approval or signature date and the PDF was created on 30 Apr 2026 at 21:58, after the market closed; 1 May is a public holiday in Kenya and the exchange published no price list that day, so the first trading day after is Monday 4 May 2026)
  • Revenue: Financial statements for the year ended 31 Dec 2025, profit and loss account · 4 May 2026 (revenue of 351,093,966 shillings, up 13.5% from 309,864,386, with the bulk of the growth in the fourth quarter; gross profit fell 10% to 87,823,540 on higher input costs)
  • Current assets: Financial statements for the year ended 31 Dec 2025, balance sheet · 4 May 2026 (inventory 62,469,885, trade and other receivables 164,129,456, cash at bank and in hand 7,225,241 and current tax receivable 715,701)
  • Current liabilities: Financial statements for the year ended 31 Dec 2025, balance sheet · 4 May 2026 (trade and other payables 213,867,871, current borrowings 42,371,333 and current tax payable 5,048,229; the company states net current assets of negative 26,747,150)
  • Long-term debt: Financial statements for the year ended 31 Dec 2025, balance sheet and outlook commentary · 4 May 2026 (non-current borrowings of 120,000,557 shillings as broken out, up from 71,884,251; deferred tax of 3,606,765 sits outside this figure. The company says a long-term loan facility of 117.9m part-funds the Kissaju plant, where capital work in progress stood at 131.9m at the year end)
  • KES per US$: CBK daily exchange rates (mean) · 4 May 2026

Disclaimer: This profile is published for educational purposes only and does not constitute financial advice. It presents reported company data and arithmetic derived from it — not a recommendation to buy, hold or sell. Investing in securities involves risk, including the possible loss of principal. Readers should conduct their own research and consult with a qualified financial advisor before making investment decisions.

Profile compiled 2026-09-25 from Shri Krishana Overseas PLC financial statements for the year ended 31 Dec 2025 (issuer filing hosted by NSE, nse.co.ke), CMA Bi-Annual Capital Markets Performance Report April–September 2025 for the listed share count (cma.or.ke), NSE daily price lists (nse.co.ke) and CBK daily exchange rates (centralbank.go.ke); primary sources only.