Kamdhenu Ventures Limited (KAMOPAINTS)
₹4.01 -0.50% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Kamdhenu Ventures' revenue was ₹46.3 Cr (-7.9% year on year, -38.3% on the previous quarter), and net profit ₹-4.4 Cr (against a profit a year earlier); the operating margin was -4.4%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹46.3 | -7.9% | -38.3% |
| Operating profit | ₹-2.1 | to loss | loss widened |
| Net profit | ₹-4.4 | to loss | loss widened |
| EPS (₹) | -0.13 | to loss | loss widened |
| Operating margin | -4.4% | — | — |
KAMOPAINTS delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 91.28% of the KAMOPAINTS shares traded on NSE were taken to delivery, against the stock's own 20-session average of 70.89%. That is higher than usual for this stock. Turnover was only ₹12 lakh, so a handful of trades can move this figure.
Delivery in the last 5 sessions: 70.9% · 58.7% · 67.3% · 71.0% · 91.3%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Kamdhenu Ventures Limited held its 7th Annual General Meeting on September 25, 2026, via video conferencing with 91 members attending. Key agenda items included the adoption of FY26 financial statements and the re-appointment of directors, including two independent directors for second five-year terms. The company reported no qualifications or adverse remarks from statutory and secretarial auditors for FY26. Final e-voting results are pending and will be disclosed separately.
- 7th Annual General Meeting conducted on September 25, 2026
- Total of 91 members were present at the virtual AGM
- Special resolutions proposed for re-appointment of two Non-Executive Independent Directors for a 5-year term
- Remote e-voting was conducted from September 22, 2026 (09:00 AM) to September 24, 2026 (05:00 PM)
Kamdhenu Ventures Limited has announced the closure of its trading window for insiders starting October 1, 2026. The window will remain shut until 48 hours following the declaration of un-audited standalone and consolidated financial results for the quarter and half-year ending September 30, 2026. In compliance with SEBI master circulars, PANs of designated persons and immediate relatives have been submitted to NSDL for security-level trading freezes. The exact date of the board meeting to consider Q2 results will be communicated separately.
- Trading window closed effective from October 1, 2026
- Closure extends until 48 hours after declaration of Q2 and H1 results for period ending September 30, 2026
- PAN freezing submitted to NSDL per SEBI circular dated May 15, 2026
Kamdhenu Ventures Limited has published newspaper advertisements regarding the notice of its 7th Annual General Meeting (AGM). The AGM is scheduled to take place on Friday, September 25, 2026, through Video Conferencing and Other Audio-Visual Means. The advertisements appeared in the September 1, 2026 editions of Financial Express and Jansatta Delhi-NCR. This is a routine statutory disclosure under SEBI LODR Regulations without financial impact.
- 7th Annual General Meeting scheduled for Friday, September 25, 2026, via VC/OAVM
- Newspaper advertisements published on September 1, 2026, in Financial Express and Jansatta
- Filing submitted under Regulation 30 and 47 of SEBI Listing Regulations
- Company reported TTM revenue of ₹241 Cr and a net loss of ₹5 Cr in recent operations
Kamdhenu Ventures Limited has published newspaper advertisements in Financial Express and Jansatta (Delhi-NCR) on September 1, 2026. The advertisement serves as a notice for the company's 7th Annual General Meeting (AGM), scheduled to be held on Friday, September 25, 2026, via Video Conferencing. It also details e-voting instructions and procedures for shareholders whose email addresses are not yet registered.
- 7th Annual General Meeting scheduled for Friday, September 25, 2026, via Video Conference / OAVM
- Advertisements published on Tuesday, September 1, 2026, in Financial Express (English) and Jansatta (Hindi)
- Remote e-voting service platform provided via KFin Technologies Limited
Kamdhenu Ventures Limited has issued notice for its 7th Annual General Meeting (AGM) scheduled for September 25, 2026, via video conferencing. The agenda includes ordinary business such as the adoption of FY26 financial statements and the re-appointment of retiring director Shri Sunil Kumar Agarwal, who holds 2,67,94,900 equity shares. Shareholders will also vote on special resolutions proposing five-year term extensions for Independent Directors Shri Ramesh Chand Surana and Shri Madhusudan Agarwal effective July 18, 2027.
- 7th AGM scheduled to be held on Friday, September 25, 2026 at 3:30 PM IST via VC/OAVM
- Adoption of audited standalone and consolidated financial statements for the financial year ended March 31, 2026
- Director Shri Sunil Kumar Agarwal (holding 2,67,94,900 shares) retires by rotation and seeks re-appointment
- Special resolutions proposed for 5-year re-appointments of Independent Directors Shri Ramesh Chand Surana and Shri Madhusudan Agarwal from July 18, 2027 to July 17, 2032
- Sitting fees of Rs 3.10 Lakhs paid to Shri Sunil Kumar Agarwal in FY26
Kamdhenu Ventures Limited has published newspaper advertisements in Financial Express and Jansatta on August 21, 2026, regarding pre-dispatch intimation for its 7th Annual General Meeting (AGM). The notice of the AGM along with the Annual Report for FY2025-26 will be sent electronically to shareholders whose email addresses are registered by Friday, August 28, 2026. The announcement also outlines e-voting procedures and details for updating bank account mandates for dividend processing.
- Published newspaper advertisements in Financial Express and Jansatta on August 21, 2026
- Pre-dispatch intimation for the 7th Annual General Meeting and Annual Report for FY 2025-26
- Cut-off date for registered shareholder email addresses set for Friday, August 28, 2026
Kamdhenu Ventures Limited has scheduled its 7th Annual General Meeting (AGM) for Friday, September 25, 2026, at 3:30 PM IST via video conferencing. The cut-off date for determining shareholder voting rights is set for September 18, 2026. Remote e-voting will commence on September 22, 2026 (9:00 AM IST) and conclude on September 24, 2026 (5:00 PM IST). The Annual Report and AGM Notice for FY26 will be dispatched via email to shareholders registered as of August 28, 2026.
- 7th AGM scheduled for Friday, September 25, 2026, at 3:30 PM IST
- Cut-off date for e-voting eligibility set for Friday, September 18, 2026
- Remote e-voting window runs from September 22, 2026 (9:00 AM) to September 24, 2026 (5:00 PM)
- Dispatch date record for AGM notice and FY26 Annual Report email is August 28, 2026
Kamdhenu Ventures released its August 2026 investor presentation, highlighting a strategic shift toward premium products which raised the Average Selling Price (ASP) to ₹87/Ltr in Q1 FY27 from ₹65 in FY25. The company operates an asset-light model with 36,000 KL p.a. own capacity and a network of 4,462 dealers, primarily concentrated in North and East India (76% of revenue). Despite the premiumization focus, financial performance remains under pressure with FY26 EBITDA margins compressing to 3.9% from 7.7% in FY24. The company is currently loss-making on a TTM basis with a PAT of ₹-5 Cr.
- Average Selling Price (ASP) increased to ₹87 per liter in Q1 FY27, up from ₹65 in FY25, driven by a focus on premium variants.
- Dealer network reached 4,462 as of June 30, 2026, with a stated goal to triple penetration within the next 5 years.
- Product mix significantly shifted toward water-based products, which now account for 83% of total volume in Q1 FY27.
- Geographic concentration remains high, with North and East India contributing 76% of total revenue.
- EBITDA margins declined to 3.9% in FY26 from 7.7% in FY24, reflecting increased competition and operating costs.
Kamdhenu Ventures Limited reported a consolidated net loss of ₹4.41 crore for the quarter ended June 30, 2026, a sharp reversal from a profit of ₹0.87 crore in the same period last year. Total income from operations declined by 7.8% year-on-year to ₹46.29 crore from ₹50.24 crore. The company's consolidated EPS fell to ₹-0.13, reflecting significant margin pressure. These results come amid a highly competitive environment in the decorative paints sector where the company operates an asset-light franchise model.
- Consolidated Net Loss of ₹4.41 crore in Q1 FY27 vs ₹0.87 crore profit in Q1 FY26
- Total Income from operations decreased to ₹46.29 crore from ₹50.24 crore YoY
- Consolidated EPS dropped to ₹-0.13 from ₹0.03 in the previous year's corresponding quarter
- Standalone total income for the quarter stood at ₹91.82 lakhs
- Paid-up equity share capital remains at ₹32.90 crore with a face value of ₹1 per share
Kamdhenu Ventures Limited has announced a change in its Key Managerial Personnel (KMP), appointing Mr. Ankit as the Company Secretary and Compliance Officer effective August 14, 2026, following the resignation of Mr. Rohit. The Board also approved the re-appointment of two Independent Directors, Shri Madhusudan Agarwal and Shri Ramesh Chand Surana, for second five-year terms starting July 2027. Additionally, the company approved its unaudited financial results for the quarter ended June 30, 2026. These administrative updates come as the company manages a TTM revenue of ₹245 Cr with a thin net profit margin.
- Mr. Ankit (ACS 51774) appointed as Company Secretary and KMP effective August 14, 2026, with 9 years of experience.
- Two Independent Directors re-appointed for 5-year terms from July 18, 2027, to July 17, 2032.
- Mr. Rohit resigned from the CS position at both the parent and material subsidiary effective August 13, 2026.
- Board approved standalone and consolidated unaudited financial results for the quarter ended June 30, 2026.
- Authorization of KMPs for determining materiality of events updated to include the new Company Secretary.
Kamdhenu Ventures held a board meeting on August 13, 2026, to approve the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The company announced a change in Key Managerial Personnel, with Mr. Rohit resigning as Company Secretary and Mr. Ankit, who has approximately 9 years of experience, taking over the role effective August 14, 2026. Additionally, two Independent Directors were re-appointed for five-year terms starting in July 2027. These administrative updates come as the company navigates a challenging period, with a market cap of ₹93 Cr and a recent quarterly loss of ₹2.67 Cr in March 2026.
- Approved standalone and consolidated unaudited financial results for the quarter ended June 30, 2026.
- Appointed Mr. Ankit (ACS 51774) as Company Secretary and Compliance Officer effective August 14, 2026.
- Re-appointed two Independent Directors, Shri Madhusudan Agarwal and Shri Ramesh Chand Surana, for 5-year terms (2027-2032).
- Accepted the resignation of Mr. Rohit from the CS position effective close of business on August 13, 2026.
- The new Company Secretary, Mr. Ankit, brings approximately 9 years of post-qualification experience in corporate secretarial and legal matters.
Kamdhenu Ventures Limited (Market Cap ₹94 Cr) held a board meeting on August 13, 2026, to approve its Q1 FY27 financial results. The company announced the resignation of its Company Secretary, Mr. Rohit, and the immediate appointment of Mr. Ankit, who brings approximately 9 years of experience in corporate secretarial and legal compliance. Additionally, the board recommended the re-appointment of two Independent Directors for five-year terms starting in July 2027. These administrative changes occur as the company navigates a period of low profitability, with TTM PAT at nearly zero.
- Approved Un-audited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026.
- Appointed Mr. Ankit as Company Secretary & Compliance Officer effective August 14, 2026, citing 9 years of post-qualification experience.
- Recommended re-appointment of two Independent Directors, Madhusudan Agarwal and Ramesh Chand Surana, for 5-year terms (2027-2032).
- Noted the resignation of Mr. Rohit from the CS position effective August 13, 2026, due to personal exigencies.
- Authorized three Key Managerial Personnel (MD, CFO, and CS) to determine the materiality of events for future disclosures.
Kamdhenu Ventures (Market Cap: ₹94 Cr) has approved the re-appointment of two Independent Directors, Mr. Madhusudan Agarwal and Mr. Ramesh Chand Surana, for five-year terms starting July 18, 2027. The company also transitioned its secretarial leadership, appointing Mr. Ankit as Company Secretary and Compliance Officer effective August 14, 2026, following the resignation of Mr. Rohit. These administrative updates were finalized alongside the approval of Q1 FY27 financial results. The company continues to operate its decorative paints business via an asset-light franchise model with TTM revenues of ₹245 Cr.
- Re-appointment of 2 Independent Directors for a second 5-year term effective from July 18, 2027
- Appointment of Mr. Ankit (ACS 51774) as Company Secretary & Compliance Officer effective August 14, 2026
- Resignation of outgoing Company Secretary Mr. Rohit effective close of business August 13, 2026
- Special Resolution required for Mr. Ramesh Chand Surana as he will attain 75 years of age during his new term
- Board approved Un-Audited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026
Kamdhenu Ventures held a board meeting on August 13, 2026, to approve the unaudited financial results for the quarter ended June 30, 2026. The company announced a transition in its secretarial leadership, with Mr. Ankit replacing Mr. Rohit as Company Secretary and Compliance Officer effective August 14, 2026. Additionally, two Independent Directors, Mr. Madhusudan Agarwal and Mr. Ramesh Chand Surana, were re-appointed for second five-year terms starting July 18, 2027. These administrative changes occur as the company seeks to stabilize after a volatile FY26, which saw TTM PAT drop to near zero.
- Approved standalone and consolidated unaudited financial results for the quarter ended June 30, 2026
- Re-appointed 2 Independent Directors for a second 5-year term from July 18, 2027, to July 17, 2032
- Appointed Mr. Ankit (ACS 51774) as Company Secretary and KMP effective August 14, 2026
- Accepted resignation of Mr. Rohit as Company Secretary effective August 13, 2026, due to personal exigencies
- Authorized 3 KMPs (MD, CFO, and new CS) for determining materiality of events under SEBI regulations
Kamdhenu Ventures Limited has appointed Mr. Ankit as the new Company Secretary and Compliance Officer effective August 14, 2026, following the resignation of Mr. Rohit. The board also approved the re-appointment of two Independent Directors, Madhusudan Agarwal and Ramesh Chand Surana, for second five-year terms starting July 2027. While the board approved Q1 FY27 financial results, the specific figures were not detailed in this summary. Given the company's small market cap of ₹94 Cr and thin TTM PAT of ₹0.21 Cr, maintaining stable governance and compliance is essential.
- Mr. Ankit appointed as Company Secretary & Compliance Officer effective August 14, 2026.
- New appointee brings approximately 9 years of post-qualification experience in corporate secretarial and legal domains.
- Two Independent Directors re-appointed for 5-year terms spanning July 18, 2027, to July 17, 2032.
- Mr. Rohit resigned from the CS position effective August 13, 2026, citing personal exigencies.
- Board meeting conducted over 2 hours and 40 minutes to approve results and management changes.
Financial Performance
Revenue Growth by Segment
The paint business, operated through Kamdhenu Colour and Coatings Limited, reported revenue of INR 266.1 Cr in FY25, representing an 8.8% YoY decline from INR 291.7 Cr in FY24. However, Q2 FY26 showed a recovery with revenue of INR 56.8 Cr, a 4% YoY increase from INR 54.8 Cr in Q2 FY25.
Geographic Revenue Split
The company maintains a pan-India reach through an asset-light franchise model. A new depot was specifically opened in New Delhi in November 2025 to strengthen the distribution network in the Northern region. Specific regional percentage splits are not disclosed.
Profitability Margins
Gross Profit Margin for FY25 stood at 44.1%, a slight compression from 45.2% in FY24. In Q2 FY26, the GP margin was 44.0%. Net Profit Ratio for FY25 declined significantly to 2.50% from 4.74% in the previous year due to lower overall profitability.
EBITDA Margin
EBITDA margin for FY25 was 6.3% (INR 16.8 Cr), down from 7.7% (INR 22.4 Cr) in FY24. For Q2 FY26, the EBITDA margin showed slight improvement to 6.5% (INR 3.7 Cr) compared to 6.3% (INR 3.5 Cr) in Q2 FY25.
Capital Expenditure
Capital Work in Progress (CWIP) was reported at INR 0.8 Cr as of September 2025, up from INR 0.1 Cr in March 2025. The company follows an asset-light model, prioritizing franchise partnerships over heavy manufacturing CAPEX.
Credit Rating & Borrowing
Total consolidated borrowings as of September 2025 stood at INR 28.0 Cr (comprising INR 4.1 Cr non-current and INR 23.9 Cr current borrowings). The Interest Coverage Ratio declined to 4.13 times in FY25 from 6.86 times in FY24 due to decreased profits.
Operational Drivers
Raw Materials
Raw materials for paint manufacturing (including pigments, solvents, and resins) represent the largest cost component. In H1 FY26, total raw material costs were INR 58.1 Cr, accounting for approximately 54.3% of total revenue.
Capacity Expansion
The company utilizes an asset-light franchise model for manufacturing. While specific MTPA capacity is not listed, the strategy focuses on widening the presence and deepening the product range through third-party manufacturing and franchise tie-ups.
Raw Material Costs
Raw material costs for FY25 were INR 148.8 Cr, representing 55.9% of revenue. This was a decrease from INR 159.8 Cr in FY24, though margins compressed due to a sharper decline in top-line revenue.
Manufacturing Efficiency
The company focuses on an asset-light model to maintain stable margins. ROCE declined to 6.44% in FY25 from 10.41% in FY24, reflecting lower capital efficiency during the period.
Logistics & Distribution
The company emphasizes 'distribution speed' as a core advantage. Trade Receivable Turnover Ratio was 1.89 times in FY25, down 19.78% YoY, suggesting a lengthening of the cash conversion cycle.
Strategic Growth
Growth Strategy
Growth is targeted through an asset-light franchise model, strengthening brand trust, widening geographic presence (e.g., New Delhi depot), and deepening the product range to translate active demand into stable margins.
Products & Services
Decorative paints, coatings, and related chemical products for the housing and construction sectors.
Brand Portfolio
Kamdhenu Paints
New Products/Services
The company is focused on deepening its existing product range in the decorative paints segment; specific new product revenue contributions are not disclosed.
Market Expansion
Expansion is focused on a pan-India reach, recently evidenced by the opening of a new depot in New Delhi in November 2025 to better serve the NCR and Northern Indian markets.
Strategic Alliances
The company operates primarily through an asset-light franchise model, involving multiple franchise partners for manufacturing and distribution.
External Factors
Industry Trends
The paint industry is seeing increased competition from new large entrants. Success is increasingly driven by brand trust, product assurance, and distribution speed. The sector is also shifting toward tighter sustainability and environmental requirements.
Competitive Landscape
The industry is highly competitive, featuring established national players, regional brands, and aggressive new entrants from other industrial sectors.
Competitive Moat
The moat is built on an asset-light franchise model, which allows for scalable growth with lower capital intensity, combined with a 'retail-first' brand position and a legacy of trust from the Kamdhenu brand.
Macro Economic Sensitivity
Highly sensitive to domestic economic conditions and the housing/capex cycle, which supports demand for decorative paints.
Consumer Behavior
Evolving consumer preferences toward eco-friendly products and premium decorative finishes are driving product development.
Geopolitical Risks
Uncertainties in global supply chains can impact the availability and cost of imported chemical inputs for paint production.
Regulatory & Governance
Industry Regulations
Operations are subject to environmental safety standards, emissions regulations, and sustainable practice norms typical of the chemical and coatings industry.
Environmental Compliance
The company must comply with evolving norms related to environmental safety and emissions; it invests in eco-friendly products to mitigate regulatory risks.
Taxation Policy Impact
The effective tax expense for FY25 was INR 2.54 Cr on a consolidated PBT of INR 9.20 Cr (approx. 27.6%).
Risk Analysis
Key Uncertainties
Key risks include raw material price volatility (impacting margins by ~1-2%), demand fluctuations in the housing sector, and intense competition from new entrants.
Geographic Concentration Risk
While pan-India, the company is actively strengthening its footprint in North India, as seen with the New Delhi depot opening.
Third Party Dependencies
High dependency on franchise partners for manufacturing due to the asset-light business model.
Technology Obsolescence Risk
The company faces the need to continuously update product formulations to meet shifting environmental standards and consumer preferences for high-performance coatings.
Credit & Counterparty Risk
Trade receivables stood at INR 135.9 Cr as of September 2025; the Trade Receivable Turnover Ratio decline of 19.78% indicates a potential increase in credit risk or slower collections.
