- Home
- Results news
- Kamdhenu Ventures
- Q2 FY27 results
Kamdhenu Ventures Q2 FY27 results: net loss of ₹1.54 crore vs ₹1.01 crore profit, revenue up 2.3%
Kamdhenu Ventures Limited reported consolidated revenue of ₹58.10 crore in Q2 FY27, up 2.3% from ₹56.79 crore a year earlier, but EBITDA fell 69.7% to ₹1.12 crore and the company posted a net loss of ₹1.54 crore against a net profit of ₹1.01 crore. Revenue recovered from Q1 FY27, while the EBITDA margin improved to 1.9% from -4.4%, but remained below 6.5% in Q2 FY26.
Key points
- Consolidated Q2 FY27 revenue was ₹58.10 crore, up 2.3% year on year and up 25.5% from Q1 FY27.
- EBITDA was ₹1.12 crore in Q2 FY27, down 69.7% from ₹3.70 crore, while the margin fell 4.6 percentage points to 1.9%.
- Kamdhenu Ventures reported a net loss of ₹1.54 crore in Q2 FY27 against a net profit of ₹1.01 crore in Q2 FY26; basic EPS was -₹0.05.
- In H1 FY27, revenue was ₹104.39 crore, down 2.5%, while profit before tax was a loss of ₹6.21 crore against a profit of ₹2.71 crore.
- The Paint segment reported revenue of ₹58.21 crore, up 2.3%, and EBIT of -₹1.44 crore against ₹1.60 crore in the year-ago quarter.
How did Kamdhenu Ventures perform in Q2 FY27?
Kamdhenu Ventures reported consolidated revenue of ₹58.10 crore for Q2 FY27, up 2.3% from ₹56.79 crore in Q2 FY26 and up 25.5% from ₹46.29 crore in Q1 FY27. EBITDA was ₹1.12 crore, down 69.7% year on year but higher than the ₹2.05 crore loss in Q1 FY27. The EBITDA margin was 1.9%, compared with 6.5% a year earlier and -4.4% in the previous quarter.
The company posted a net loss of ₹1.54 crore in Q2 FY27, against a net profit of ₹1.01 crore in Q2 FY26 and a net loss of ₹4.41 crore in Q1 FY27. Profit before tax was a loss of ₹1.68 crore, compared with a profit of ₹1.45 crore a year earlier and a loss of ₹4.53 crore in the previous quarter. Basic EPS was -₹0.05, against ₹0.03 in Q2 FY26 and -₹0.10 in Q1 FY27.
The Board also approved standalone results for the quarter and half year ended 30 September 2026. On a standalone basis, the quarter recorded revenue of ₹0.00 crore and profit after tax of ₹0.19 crore, against a loss of ₹0.16 crore in the year-ago quarter; the quarterly comparison is presented on the consolidated basis.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 58.10 | 46.29 | 56.79 | +2.3% | +25.5% |
| Other income | 0.11 | 0.11 | 0.12 | −8.3% | +0.0% |
| Total expenses | 59.88 | 50.93 | 55.46 | +8.0% | +17.6% |
| EBITDA | 1.12 | −2.05 | 3.70 | −69.7% | turned to profit |
| EBITDA margin | 1.9% | -4.4% | 6.5% | −4.6 pp | +6.3 pp |
| Profit before tax | −1.68 | −4.53 | 1.45 | turned to loss | |
| Tax | −0.14 | −0.12 | 0.43 | ||
| Net profit | −1.54 | −4.41 | 1.01 | turned to loss | |
| EPS (₹) | −0.05 | −0.10 | 0.03 | turned to loss |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Kamdhenu Ventures' costs and profit?
Total expenses rose 8.0% to ₹59.88 crore from ₹55.46 crore in Q2 FY26, exceeding the increase in revenue. Cost of materials consumed was the largest change, rising 48.7% by ₹11.41 crore to ₹34.82 crore. Employee cost rose 31.6% by ₹2.84 crore to ₹11.84 crore, while depreciation increased 33.3% by ₹0.46 crore to ₹1.84 crore.
Finance costs increased 8.1% by ₹0.08 crore to ₹1.07 crore, and other expenses were up 1.3% by ₹0.16 crore to ₹12.43 crore. Other income declined 8.3% by ₹0.01 crore to ₹0.11 crore. There was no exceptional item in either quarter, and tax moved from ₹0.43 crore to ₹0.14 crore.
Against Q1 FY27, total expenses increased 17.6% by ₹8.95 crore to ₹59.88 crore. Cost of materials fell 6.7% by ₹2.52 crore to ₹34.82 crore, but employee cost rose 9.3% by ₹1.01 crore, other expenses increased 24.4% by ₹2.44 crore, and finance costs rose 20.2% by ₹0.18 crore. Other income was unchanged at ₹0.11 crore, and there was no exceptional item.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 34.82 | 23.41 | +11.41 | +48.7% |
| Employee cost | 11.84 | 9 | +2.84 | +31.6% |
| Finance costs | 1.07 | 0.99 | +0.08 | +8.1% |
| Depreciation | 1.84 | 1.38 | +0.46 | +33.3% |
| Other expenses | 12.43 | 12.27 | +0.16 | +1.3% |
| Total expenses | 59.88 | 55.46 | +4.42 | +8.0% |
| Other income | 0.11 | 0.12 | −0.01 | −8.3% |
| Tax | −0.14 | 0.43 | −0.57 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue was ₹104.39 crore, down 2.5% by ₹2.64 crore from ₹107.03 crore in H1 FY26. Total income was ₹104.61 crore, also down 2.5% by ₹2.64 crore from ₹107.25 crore.
Profit before tax moved to a loss of ₹6.21 crore from a profit of ₹2.71 crore in H1 FY26, a deterioration of ₹8.92 crore. Net loss was ₹5.95 crore against a net profit of ₹1.88 crore, while basic EPS was -₹0.18 against ₹0.06.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 104.39 | 107.03 | −2.5% |
| Profit before tax | −6.21 | 2.71 | turned to loss |
| Net profit | −5.95 | 1.88 | turned to loss |
| EPS (₹) | −0.18 | 0.06 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets increased to ₹301.16 crore at 30 September 2026 from ₹286.64 crore at 31 March 2026, while total equity fell to ₹172.90 crore from ₹178.74 crore. Borrowings rose to ₹32.03 crore from ₹26.89 crore, and cash declined to ₹3.88 crore from ₹18.62 crore.
Inventories increased to ₹82.98 crore from ₹56.03 crore. Trade receivables were ₹145.81 crore, compared with ₹147.03 crore, while trade payables rose to ₹69.53 crore from ₹53.34 crore.
H1 FY27 operating cash flow was an outflow of ₹12.03 crore, compared with an inflow of ₹0.48 crore in H1 FY26. Investing cash flow was an outflow of ₹4.94 crore against ₹3.46 crore, financing cash flow was an inflow of ₹2.21 crore against ₹2.99 crore, and capital expenditure was ₹5.02 crore against ₹3.56 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 301.16 | 286.64 |
| Total equity | 172.90 | 178.74 |
| Borrowings | 32.03 | 26.89 |
| Cash and equivalents | 3.88 | 18.62 |
| Inventories | 82.98 | 56.03 |
| Trade receivables | 145.81 | 147.03 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −12.03 | 0.48 |
| Cash from investing | −4.94 | −3.46 |
| Cash from financing | 2.21 | 2.99 |
| Capital expenditure | 5.02 | 3.56 |
Source: Company's results filing (XBRL).
How has Kamdhenu Ventures done over the last 8 quarters?
Revenue reached its highest level in the reported series at ₹82.76 crore in Q4 FY25 and its lowest at ₹46.29 crore in Q1 FY27. It rose to ₹58.10 crore in Q2 FY27, indicating a recovery from the previous quarter but remaining below ₹75.00 crore in Q4 FY26.
Profit after tax was highest at ₹1.99 crore in Q3 FY25 and fell to a loss of ₹4.41 crore in Q1 FY27. The Q2 FY27 net loss narrowed to ₹1.54 crore. The EBITDA margin bottomed at -4.4% in Q1 FY27 and improved to 1.9% in Q2 FY27, while its highest reported level was 6.6% in Q1 FY26.
Which businesses drove the quarter?
The Paint segment reported revenue of ₹58.21 crore in Q2 FY27, up 2.3% from ₹56.90 crore in the year-ago quarter. Its EBIT was a loss of ₹1.44 crore, compared with a profit of ₹1.60 crore, and the segment’s EBIT margin was -2.5%.
The Company Segment, including other income, reported revenue of ₹0.00 crore, compared with ₹0.01 crore in Q2 FY26, and EBIT of a loss of ₹0.23 crore against a loss of ₹0.16 crore.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Company Segment (including other income) | 0 | −0.23 | ||
| Paint | 58.21 | +2.3% | −1.44 | -2.5% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The Board approved standalone and consolidated unaudited results for the quarter and half year ended 30 September 2026. It appointed Saroj Punhani as an additional non-executive independent director for five consecutive years from 30 October 2026 to 29 October 2031, subject to shareholder approval by postal ballot, and added her to four Board committees.
A separate filing said the Preferential Issue Committee approved the allotment of 1,50,00,000 equity shares of ₹1 each on conversion of warrants at an issue price of ₹6.80 per share. The company received ₹7,65,00,000 on conversion, taking paid-up equity share capital to ₹34,40,00,000. No dividend was disclosed in the same-day filings.
What did Kamdhenu Ventures' management say?
Management said dealer penetration could be tripled in five years from the current 4,450+ dealers within India’s 50,000+ dealer universe through additions across regions. It also said regions where the dealer proportion exceeded their revenue contribution offered scope for significant volume expansion on existing investments, without providing a quantified target.
Management’s presentation emphasised premiumisation and said the portfolio had reached a 43% share of premium products, with average selling price per kilogram or litre up 32%. It said the dealer count had increased to 4,457 and highlighted deeper penetration in Tier II and III cities, rural markets, North and East India, owned manufacturing capacity of 36,000 KL p.a. and more than 1,820 active tinting machines.
Management identified margin deterioration, material-cost pressure, cash strain, working-capital build and subsidiary leverage as risks. It noted that consolidated H1 FY27 EBITDA was -₹0.9 crore at a margin of -0.9%, compared with ₹7.0 crore and 6.6% a year earlier; cash fell to ₹3.9 crore from ₹18.6 crore, and H1 operating cash flow was an outflow of ₹12.0 crore against an inflow of ₹0.5 crore.
How did Kamdhenu Ventures shares react?
By the next day’s close, the stock was up 1.9% from its pre-results close. The Paints industry median was up 1.0% over the same period, leaving Kamdhenu Ventures 0.8 percentage points ahead of the sector. Earlier reaction-day moves were -2.0% on 13 August 2026, -5.1% on 26 May 2026 and -0.2% on 12 February 2026.
| After the filing | Stock | Paints median |
|---|---|---|
| 5 minutes | −2.4% | |
| 15 minutes | +0.0% | |
| 30 minutes | +0.3% | |
| Reaction day | −0.8% | +0.1% |
| Next day | +1.9% | +1.0% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 13 August 2026 | −2.0% |
| 26 May 2026 | −5.1% |
| 12 February 2026 | −0.2% |
| 11 November 2025 | +0.6% |
| 14 August 2025 | +5.4% |
| 8 May 2025 | −3.8% |
| 13 February 2025 | −1.5% |
| 11 November 2024 | −2.0% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Kamdhenu Ventures' revenue in Q2 FY27?
Revenue from operations was ₹58.10 crore, up 2.3% from ₹56.79 crore in Q2 FY26 (consolidated).
Did Kamdhenu Ventures make a profit in Q2 FY27?
No. It reported a net loss of ₹1.54 crore, against a net profit of ₹1.01 crore in Q2 FY26.
What was Kamdhenu Ventures' EPS in Q2 FY27?
Basic loss per share was ₹0.05, against ₹0.03 in Q2 FY26.
How did Kamdhenu Ventures shares react to the Q2 FY27 results?
On the reaction day the stock moved −0.8% from the previous close; the median Paints stock moved +0.1%.
When did Kamdhenu Ventures announce its Q2 FY27 results?
On 30 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Intimation Of The Board Meeting Scheduled To Be Held On 30Th October, 2026. (BSE, 21 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On 30Th October, 2026. (BSE, 30 October 2026) · PDF
- Un-Audited Standalone And Consolidated Financial Results For The 2Nd Quarter And Half Year Ended On 30Th September, 2026 (BSE, 30 October 2026) · PDF
- The investor presentation (30 October 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
This is information, not investment advice. MarketPing does not recommend buying or selling any security.