Kamdhenu Ltd.

•

kamdhenulimited.comBSE: 532741NSE: KAMDHENU

Market Cap₹ 1,101 Cr.

Current Price

High / Low₹ 40 / 16

Stock P/E41.8

Book Value—

Price to Book—

Dividend Yield1.02 %

ROCE15.3 %

ROE12.7 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2022 • Steel: 71.3% • Paints: 28.7%

AI Sector View

AI GENERATED

Metals & Mining

Hold

The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.

Confidence

61%

View full sector analysis →

PROS

Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.11x)
Company generates healthy free cash flow
Company maintains a comfortable, low leverage position
Company converts assets efficiently - asset turnover of 2.1x

CONS

Promoter holding has decreased over last 2 years: -8.0pp
Company has a low return on equity of 7.3% over last 3 years
Company has a low return on capital employed of 10.4%
Recurring exceptional / one-off items are inflating headline profit
Though reporting repeated profits, the company pays out little dividend (10.2%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Metals & MiningIron & SteelSteel & Iron Products

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	JSWSTEEL	1325.00	13.07	324022.65	0.54	4696.00	112.58	47364.00	11.55	20.67	19.60
2.	TATASTEEL	189.00	21.38	235937.32	2.12	2385.24	18.82	60794.29	15.26	12.70	15.40
3.	SAIL	197.10	19.06	81412.65	1.19	1644.05	120.80	26245.67	1.25	7.08	15.92
4.	WELCORP	2591.20	29.60	68353.43	0.19	1047.88	200.11	4081.12	14.91	23.94	32.17
5.	APLAPOLLO	2250.00	50.83	62473.14	0.38	263.11	10.94	5606.71	12.07	31.83	7.34
6.	JSL	737.70	18.72	60817.43	0.54	768.66	7.56	11278.54	10.50	19.19	12.09
7.	SHYAMMETL	1066.05	26.49	29756.85	0.42	350.73	20.66	5455.09	23.45	13.88	14.03
8.	JINDALSAW	305.30	29.88	19524.19	0.66	90.79	-78.15	4452.31	9.00	10.38	8.79
9.	RATNAMANI	2732.25	44.24	19150.89	0.37	107.03	-15.82	971.63	-15.63	18.01	16.69
10.	SARDAEN	508.95	15.87	17934.44	0.39	478.13	9.50	1608.04	-1.07	17.76	41.59
11.	GPIL	240.90	20.11	16218.33	0.42	222.37	2.75	1750.47	32.29	20.20	19.36
12.	KAMDHENU	39.05	41.83	1100.75	1.02	5.41	37.35	252.83	13.70	29.12	2.60

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022
	881	1,464	1,928	2,224	1,459	2,155	2,265	253
	871	1,437	1,846	2,069	1,393	2,064	2,169	235
Operating Profit	11	27	82	155	66	91	96	18
OPM %	1.22%	1.86%	4.25%	6.97%	4.52%	4.23%	4.24%	7.22%
	9	11	14	101	9	9	3	-6
Interest	37	39	33	27	27	26	25	2
Depreciation	21	21	22	22	23	23	23	2
Profit before Tax	19	38	96	55	75	100	99	8
Tax %	25.36%	34.69%	25.46%	28.76%	25.93%	23.47%	22.82%	28.54%
Net Profit	14	25	72	39	56	76	77	5
	0.54	0.94	2.68	1.47	2.07	2.84	2.85	2.01

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	TTM
	924	625	841	841
	879	575	782	797
Operating Profit	45	50	59	44
OPM %	4.84%	8.01%	6.97%	5.18%
	-25	-7	-4	-4
Interest	12	14	10	10
Depreciation	8	9	9	9
Profit before Tax	-0	21	35	35
Tax %	508.84%	28.02%	24.91%	24.91%
Net Profit	2	15	26	26
EPS	0.00	5.62	9.77	—
Dividend Payout %	70.86%	14.29%	10.24%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: 22%
5 Years:: 17%
3 Years:: 9%
1 Year:: 37%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 7%
Last Year:: 13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022
Equity Capital	27	27	27
	153	168	191
	132	106	102
Trade Payables	122	99	90
	30	31	32
Total Liabilities	464	431	442
	86	91	93
Capital Work in Progress	1	1	1
	6	9	12
	78	67	77
	0	0	0
Cash & Bank	5	4	14
	287	260	245
Total Assets	464	431	442

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022
	-1	56	54
Cash from Investing	-19	-10	-14
Cash from Financing	15	-41	-20
	-7	-0	10

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022
PER SHARE
EPS (₹)	0.71	5.60	9.77
Book Value (₹)	67.57	72.30	80.97
Dividend per Share (₹)	0.50	0.80	1.00
Cash EPS (₹)	0.39	0.88	1.32
PROFITABILITY
Operating Margin %	4.55%	7.72%	6.52%
Net Margin %	0.19%	2.17%	2.83%
ROE %	1.04%	8.06%	12.75%
ROCE %	3.93%	11.88%	15.33%
	0.40%	3.37%	6.02%
EFFICIENCY
Debtor Days	78	108	78
Inventory Days	29	38	28
Payable Days	64	97	60
	43	50	47
FINANCIAL HEALTH
Debt to Equity (x)	0.66x	0.48x	0.40x
Interest Coverage (x)	0.96x	2.50x	4.35x
	1.39x	1.52x	1.75x
GROWTH
Revenue Growth %	0.00%	-32.32%	34.47%
Operating Profit Growth %	0.00%	18.21%	13.08%
Net Profit Growth %	0.00%	704.97%	74.53%
	0.00%	0.00%	0.00%
VALUATION
P/E (x)	0.00x	0.00x	0.00x
P/B (x)	0.00x	0.00x	0.00x
Dividend Yield %	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	57.04	49.83	49.83	49.83	49.12	49.03	49.03	49.03	49.03
	6.12	9.57	6.02	6.44	5.12	3.21	2.52	1.88	2.06
	0.18	0.18	0.00	0.00	0.32	0.00	0.00	0.00	0.02
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	36.66	40.42	44.15	43.73	45.44	47.76	48.46	49.09	48.90

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-01

Copy of Newspaper Publication

2026-09-01 - Kamdhenu Limited has informed the Exchange about Copy of Newspaper Publication for Dispatch of Notice of 32nd AGM.

2026-09-01

General Updates

2026-09-01 - Kamdhenu Limited has informed the Exchange about intimation of dispatch of letter to shareholders whose e-mail addresses are not registered with Company/Registrar & Transfer Agent/Depository Participants.

2026-08-31

Shareholders meeting

2026-08-31 - Kamdhenu Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 25, 2026

2026-08-21

General Updates

2026-08-21 - Kamdhenu Limited has informed the Exchange about the submission of copies of newspapers with respect to the pre-dispatch intimation to shareholders of the 32nd Annual General Meeting and E-Voting.

2026-08-21

General Updates

2026-08-21 - Kamdhenu Limited has informed the Exchange about communication sent to the shareholders w.r.t. TDS on dividend payout of financial year 2025-26.

2026-08-20

Record Date

2026-08-20 - Kamdhenu Limited has informed the Exchange that Record date for the purpose of Dividend is 18-Sep-2026.

2026-08-20

General Updates

2026-08-20 - Kamdhenu Limited has informed the Exchange about intimation of 32nd Annual General Meeting and Record Date.

2026-07-30

Copy of Newspaper Publication

2026-07-30 - Kamdhenu Limited has informed the Exchange about Copy of Newspaper Publication of Financial Results for the Quarter ended 30th June, 2026.

2026-07-30

Investor Presentation

2026-07-30 - Kamdhenu Limited has informed the Exchange about Investor Presentation

News

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