Kamdhenu Limited has informed the Exchange about Transcript
KAMDHENU · price
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Kamdhenu Limited shared its Q4 and FY25 earnings call transcript. The steel business reported FY25 revenue of INR748 crore (3% YoY), with franchisee volumes up 6%, own manufacturing volumes up 5%, and a record-high royalty income of INR139 crore (+8% YoY). PBT grew 20% to INR80 crore with margins of 10.8%, while PAT rose 21% to INR61 crore. ROCE stood at 25.5% and ROE at 19.2%, with the company remaining debt-free. The paint business (Kamdhenu Ventures) struggled, with FY25 revenue declining to INR266 crore from INR292 crore, EBITDA falling to INR17 crore from INR22 crore, and PAT halving to INR7 crore due to intense competition from new entrants. Management guided for 14% volume growth and 20-25% bottom-line growth in the steel business for FY26, along with 20% capacity expansion in franchisee units. Paint business capex is planned at INR10-15 crore, and competition is expected to subside within 6 months.
Strong steel business performance with healthy margins, debt-free status, and multi-year growth guidance is positive for shareholders. However, persistent weakness in the paint business and the unresolved 80% decline in KAMOPAINTS stock price highlight ongoing concerns. Overall, the stock may see mixed reactions given the divergence between the two segments.