Kerala Ayurveda Ltd (530163)
Snapshot
Events
- Latest results
- Q1 FY27, filed 14 Aug 2026
- Board meeting filing
- 6 Aug 2026
Exchange data. Each figure as its own page shows it; the dates are the data's. Information only, not investment advice.
📈 Share price & events
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Kerala Ayurveda's revenue was ₹22.5 Cr (-21.3% year on year, -35.2% on the previous quarter), and net profit ₹-7.7 Cr (against a profit a year earlier); the operating margin was -22.6%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹22.5 | -21.3% | -35.2% |
| Operating profit | ₹-5.1 | loss widened | loss narrowed |
| Net profit | ₹-7.7 | to loss | loss widened |
| EPS (₹) | -5.92 | to loss | loss narrowed |
| Operating margin | -22.6% | — | — |
📢 Recent Corporate Announcements
Kerala Ayurveda Limited approved the allotment of 6,55,000 equity shares at ₹190.37 per share, aggregating to ₹12.47 crore, on a preferential basis to promoter group entity Katra Holding Private Limited. The transaction adjusts an existing unsecured loan of ₹12.47 crore into equity, reducing the company's leverage. Following the allotment, Katra Holding's shareholding rises from 4.85% to 9.41%, and the total paid-up equity share capital increases from ₹12.99 crore to ₹13.65 crore.
- Allotment of 6,55,000 equity shares at ₹190.37 per share, totaling ₹12,46,92,350
- Issued via partial adjustment of existing unsecured loan from promoter Katra Holding Private Limited
- Katra Holding's stake increases from 4.85% (6,30,000 shares) to 9.41% (12,85,000 shares)
- Paid-up share capital increases from ₹12,99,50,850 to ₹13,65,00,850
Kerala Ayurveda Limited has issued a corrigendum to its 34th AGM notice, revising the proposed preferential allotment to Katra Holding Private Limited from 7,20,000 to 6,55,000 equity shares. The shares are priced at Rs 190.37 each, totaling Rs 12.47 crore, which represents ~5.8% of the company's Rs 216 crore market cap. The consideration is being discharged by partially converting an existing unsecured loan from the promoter entity. Following the allotment, total promoter shareholding will increase from 35.61% to 38.70% on an actual basis.
- Proposed preferential shares revised downwards from 7,20,000 to 6,55,000 equity shares of face value Rs 10 each
- Allotment price set at Rs 190.37 per share, amounting to an aggregate value of Rs 12,46,92,350
- Consideration to be satisfied via partial adjustment against an existing unsecured loan
- Katra Holding's stake will increase from 4.85% (6,30,000 shares) to 9.41% (12,85,000 shares) post-issue on an actual basis
- Overall promoter group holding will expand from 35.61% to 38.70% on an actual basis
Kerala Ayurveda's board has approved the amalgamation of its wholly-owned subsidiary (WOS), Ayurvedagram Heritage Wellness Centre, into the parent company. The subsidiary is notably profitable, reporting a PAT of ₹3.16 Cr on a turnover of ₹15.47 Cr for FY26, which will help offset the parent's standalone losses of ₹14.74 Cr. The merger involves no share issuance or cash consideration as it is a 100% subsidiary. Additionally, the company granted 64,875 ESOPs at an exercise price of ₹10 and re-appointed Mr. Ramesh Vangal as a Director.
- Subsidiary turnover of ₹15.47 Cr represents approximately 18% of the parent's standalone FY26 revenue of ₹85.48 Cr
- Subsidiary reported a PAT of ₹3.16 Cr for FY26, while the parent company recorded a standalone loss of ₹14.74 Cr
- Subsidiary Net Worth stands at ₹16.23 Cr as of March 31, 2026, compared to the parent's ₹36.15 Cr
- Grant of 64,875 ESOPs at an exercise price of ₹10 per share, significantly below the current market price of ₹155.8
- The merger is subject to NCLT and shareholder approvals with no change in the shareholding pattern
Kerala Ayurveda reported Q1 FY27 consolidated revenue of 33.2 Cr, a 16% YoY increase, while narrowing its operating EBITDA loss to 3.82 Cr from 7.10 Cr in the previous quarter. Despite topline growth, the company posted a net loss of 8.08 Cr, significantly impacted by a 5x surge in promoter loan interest costs. Management reaffirmed its 'Vision 2030' to scale revenue to 1,000 Cr and expects monthly operating EBITDA breakeven by September 2026. The company is also planning to convert promoter loans to equity to improve its high debt-to-equity ratio, which currently stands at 7.82.
- Consolidated revenue grew 16% YoY to 33.2 Cr in Q1 FY27, led by a 28.3% growth in standalone operations.
- Operating EBITDA (Adj.) loss reduced by ~50% sequentially to 3.82 Cr from 7.10 Cr in Q4 FY26.
- India D2C e-commerce segment grew 38.9% YoY, with repeat customer contribution rising to 33%.
- US Wellness Clinic revenue surged 81.9% YoY, offsetting an 8.2% decline in the US Academy segment.
- Vision 2030 targets a 10x revenue increase from 100 Cr in FY24 to 1,000 Cr by FY30.
Kerala Ayurveda's board has approved the merger of its wholly-owned subsidiary, Ayurvedagram Heritage Wellness Centre, into the parent company to streamline operations and eliminate duplicative costs. The subsidiary is profitable, reporting a PAT of Rs 3.16 Cr on a turnover of Rs 15.47 Cr for FY26, which will support the parent company that reported a loss of Rs 14.74 Cr in the same period. Additionally, the company granted 64,875 ESOPs at an exercise price of Rs 10 per share and recommended the re-appointment of Mr. Ramesh Vangal as a Non-Executive Director.
- Approved merger of Ayurvedagram Heritage Wellness Centre (FY26 Turnover: Rs 15.47 Cr) with Kerala Ayurveda Ltd
- Subsidiary Ayurvedagram reported a profit of Rs 3.16 Cr for FY26, contrasting with the parent's standalone loss of Rs 14.74 Cr
- Grant of 64,875 ESOPs under the 2023 Plan at a deeply discounted exercise price of Rs 10 per share
- Subsidiary Net Worth of Rs 16.23 Cr to be integrated, significantly impacting the parent's standalone Net Worth of Rs 36.15 Cr (as per filing)
- Re-appointment of Mr. Ramesh Vangal, former Chairman of Seagram Asia Pacific, as Non-Executive Director
Kerala Ayurveda Ltd has scheduled a board meeting on August 12, 2026, to approve its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The company is currently under significant financial pressure, reporting a TTM net loss of ₹16 crore and a high Debt-to-Equity ratio of 7.82. Investors will be monitoring these results for any signs of operational turnaround following a ₹7.39 crore loss in the March 2026 quarter. The trading window for insiders has been closed since June 30, 2026.
- Board meeting scheduled for August 12, 2026, to approve Q1 FY27 results.
- Trading window for designated persons closed from June 30, 2026, until 48 hours post-announcement.
- Company reported a TTM revenue of ₹131 crore with a negative operating margin of -13.5%.
- Net worth stands at a thin ₹11 crore against a total debt of ₹86 crore as per latest context.
Company profilewritten 13 Nov 2025
Financial Performance
Revenue Growth by Segment
Not disclosed in available documents; however, the company transitioned from cumulative losses of INR 32.61 Cr (FY 2006-07 to FY 2012-13) to cumulative profits of INR 12.39 Cr (FY 2013-14 to FY 2017-18).
Geographic Revenue Split
Not disclosed in available documents, but operations are split between India (Kerala, Bangalore) and the USA (Milpitas, CA).
Profitability Margins
Cumulative profits of INR 12.39 Cr earned from FY 13-14 to FY 17-18, marking a recovery from previous cumulative losses of INR 32.61 Cr.
Capital Expenditure
Not disclosed in available documents, but assets include 8.50 acres at Manyali for Ayurvedagram Resort and 4 acres in Kerala for a new factory.
Credit Rating & Borrowing
The Katra Group provided an interest-free loan that peaked at INR 53.45 Cr in FY 2012-13. The waived interest value is estimated at INR 47.88 Cr based on a notional 10% simple interest rate.
Operational Drivers
Raw Materials
Raw drugs, herbs, and traditional oils used for Ayurvedic formulations and treatments.
Import Sources
Sourced primarily from Kerala, India, including the Raw Drug Division in Kottai, Nedumbassery.
Capacity Expansion
Planned expansion includes a new factory on a 4-acre land parcel in Kerala and the development of Ayurvedagram Wellness Resorts (30 to 100 keys) via a JV with Sanghvi Brands.
Manufacturing Efficiency
Severely impacted by the 2018 floods, requiring extraordinary efforts for repair and refurbishment of units in Aluva and Nedumbassery.
Strategic Growth
Expected Growth Rate
65%
Growth Strategy
Growth will be achieved through a Joint Venture with Sanghvi Brands Ltd to develop global Ayurvedagram Wellness Resorts, expansion of the US Academy (over 2,000 alumni), and the launch of new patented formulations (K-Series).
Products & Services
Ayurvedic medicines (Liposem+, Glymin+, Chyavanaprash, Myaxil), wellness services (Panchakarma, bodywork treatments), and educational certifications (Ayurvedic Wellness Counselor/Practitioner).
Brand Portfolio
Kerala Ayurveda, Ayurvedagram, KALPAM, Renovel Discoveries.
New Products/Services
New product launches include Liposem+, Glymin+, Cottage Products, and Lutein-based Eye Care products.
Market Expansion
Expansion into global markets (USA, Middle East, Indian Ocean) through a JV with Sanghvi Brands to operate Ayurvedic Spas in luxury hotels like Ritz Carlton and JW Marriott.
Strategic Alliances
Joint Venture with Sanghvi Brands Ltd; MoU with Benares Hindu University (BHU) for research and education; JV with Renovel Discoveries Inc (US).
External Factors
Industry Trends
The wellness industry is a $1 trillion opportunity; the complementary/alternative medicine sector grew 65% to $187 billion, driven by a desire for nature-based remedies.
Competitive Landscape
Competes in the luxury wellness and spa market alongside global brands like L'Occitane, Elemis, and Warren Tricomi.
Competitive Moat
Durable advantages include 130 man-years of scientific expertise, BHU research alliance, and accreditation from the States of California and Washington for its US Academy.
Macro Economic Sensitivity
Highly sensitive to environmental factors in Kerala (monsoon/floods) which can disrupt the entire supply chain and manufacturing base.
Consumer Behavior
Shift toward 'prevention' and 'urbanization' driving demand for traditional Ayurvedic teachings and wellness services within easy reach.
Regulatory & Governance
Industry Regulations
Programs are approved by the National Ayurvedic Medical Association (NAMA) and accredited by the State of California and Washington.
Legal Contingencies
The company received a 3-month extension from the ROC to hold its AGM by December 31, 2018, due to flood-related disruptions.
Risk Analysis
Key Uncertainties
Natural calamities (floods) pose a major risk, as seen in 2018 when 3 units were submerged, impacting operations for 8 weeks.
Geographic Concentration Risk
High concentration of manufacturing and resort assets in Kerala (Aluva, Nedumbassery) and educational assets in Silicon Valley, USA.
Third Party Dependencies
Dependency on Integrated Registry Management Services Pvt Ltd for RTA services and Sanghvi Brands for global resort expansion.
Technology Obsolescence Risk
Mitigated by the adoption of live-streaming and recorded digital content for the US Academy to reach a global student base.
