Investor Presentation- May, 2026
KAMDHENU · price
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Kamdhenu Limited, India's largest branded TMT bar player, released its FY26 investor presentation. The company operates an asset-light franchisee model with 100+ franchisees, 12,500+ dealers, and 500+ distributors across India. For FY26, revenue from operations stood at Rs. 763.4 Crores (up 2.1% YoY), with PBT at Rs. 105.5 Crores (up 31.2%) and PAT at Rs. 78.4 Crores (up 28.7%). The company achieved a gross profit margin of 33% and PBT margin of 13.8%, both showing significant improvement from FY25. Royalty income grew 25.4% to Rs. 174.5 Crores. Over FY22-FY26, volumes grew at 11% CAGR, turnover at 9% CAGR, and PBT at 21% CAGR. The company maintains zero debt and proposed a dividend of Rs. 0.4 per share.
Strong margin expansion and profitability growth indicate operational efficiency gains in the franchisee model. The 33% jump in PBT despite modest 2% revenue growth suggests better cost management and higher royalty realization. Zero debt and improving return ratios (ROE 19.8%, ROCE 26.8%) make this a financially healthy mid-cap, though flat revenue growth warrants monitoring.