Kamdhenu Ventures Q2 FY27 Reports ₹1.5 Crore Loss

Company Disclosure

Financial Performance (Consolidated - Kamdhenu Ventures Limited)

Q2 FY27 Performance (YoY Comparison):

Revenue from Operations: ₹58.1 crore (vs ₹56.8 crore in Q2 FY26, +2%)
Gross Profit: ₹25.4 crore (vs ₹25.0 crore in Q2 FY26, +2%)
Gross Profit Margin: 43.7% (vs 44.0% in Q2 FY26)
EBITDA: ₹1.1 crore (vs ₹3.7 crore in Q2 FY26, -70%)
EBITDA Margin: 1.9% (vs 6.5% in Q2 FY26)
Profit Before Tax: -₹1.7 crore (vs ₹1.4 crore in Q2 FY26)
Profit After Tax: -₹1.5 crore (vs ₹1.0 crore in Q2 FY26)

H1 FY27 Performance (YoY Comparison):

Revenue from Operations: ₹104.4 crore (vs ₹107.0 crore in H1 FY26, -2%)
Gross Profit: ₹44.2 crore (vs ₹48.9 crore in H1 FY26, -10%)
Gross Profit Margin: 42.3% (vs 45.7% in H1 FY26)
EBITDA: -₹0.9 crore (vs ₹7.0 crore in H1 FY26)
EBITDA Margin: -0.9% (vs 6.6% in H1 FY26)
Profit Before Tax: -₹6.2 crore (vs ₹2.7 crore in H1 FY26)
Profit After Tax: -₹5.9 crore (vs ₹1.9 crore in H1 FY26)

Balance Sheet Position (Consolidated - as of September 2026)

Total Equity: ₹172.9 crore (vs ₹178.7 crore in March 2026)
Total Liabilities: ₹301.2 crore (vs ₹286.6 crore in March 2026)
Property, Plant and Equipment: ₹49.4 crore (vs ₹44.4 crore in March 2026)
Inventories: ₹83.0 crore (vs ₹56.0 crore in March 2026)
Trade Receivables: ₹145.8 crore (vs ₹147.0 crore in March 2026)
Cash and Cash Equivalents: ₹3.9 crore (vs ₹18.6 crore in March 2026)
Borrowings (Current + Non-current): ₹32.1 crore (vs ₹26.9 crore in March 2026)

Cash Flow Statement (Consolidated - H1 FY27)

Net Cash from Operating Activities: -₹12.0 crore
Net Cash from Investing Activities: -₹4.9 crore
Net Cash from Financing Activities: ₹2.2 crore
Net Decrease in Cash: ₹14.7 crore

Subsidiary Performance (Kamdhenu Colour and Coatings Limited)

Q2 FY27 Performance:

Revenue from Operations: ₹58.1 crore
Profit After Tax: -₹1.4 crore

H1 FY27 Performance:

Revenue from Operations: ₹103.5 crore
Profit After Tax: -₹5.8 crore

Business Overview and Strategy

Brand Positioning: Kamdhenu Paints positioned as India's leading brand in Indian Decorative Paints Segment, owned by wholly owned subsidiary Kamdhenu Colour and Coatings Limited.

Market Focus: Deep penetration across underserved areas of Rural Hindi Hinterland regions with prominence in India's emerging cities.

Product Portfolio: Diversified and eco-friendly product portfolio including:

Premium Exterior Emulsions (Weather Supreme Shyne, Kamo Hi-Sheen Velvety, KamoDual series)
Texture Wood Coatings (Kamolac PU Wood Finish, Water Base Wood Finishes)
Wood Adhesives (KD-44, KD-445, KD-48, KD-50)

Distribution Network: Well-entrenched and highly incentivized dealer network with focus on dealer meets, painter meets, and motivational sessions.

Marketing Activities:

Digital campaigns and social media education
Television campaigns on national and regional channels (Aajtak, Zee News, Zee Business, ABP, CNBC)
Brand promotions with celebrity affiliations
'TARGET KA BADSHAH' mega paints event for dealer & distributor awards
Distribution of promotional materials (catalogues, brochures, sample boards)

Growth Strategy:

Premiumization of portfolio
Brand equity investments
Increased capacity utilization
Market share gains
Targeting urban markets through institutional sales
Increased penetration in South India via contract manufacturer tie-up
Robust hiring plans
ERP tools & IT-aided supply chain implementation

Growth Drivers Identified: Reduced repainting cycle, increased dealer density, Housing for all initiative.

Historical Performance (Paints Business - Consolidated)

| FY26 | 245.3 | 42.0% | 3.9% | 0.2 |

| FY25 | 266.1 | 44.1% | 6.3% | 6.7 |

| FY24 | 291.7 | 45.2% | 7.7% | 13.9 |

| FY23 | 259.5 | 34.4% | -0.2% | -11.3 |

| FY22 | 241.4 | 34.2% | 1.3% | -12.7 |

Board of Directors

Mr. Sunil Kumar Agarwal (Chairman)
Mr. Saurabh Agarwal (Managing Director)
Mr. Sachin Agarwal (Non Executive Director)
Mr. Ramesh Chand Surana (Independent Director)
Mr. Madhusudan Agrawal (Independent Director)