Kamdhenu Ventures Limited is a newly formed entity that emerged from the conglomerate `Kamdhenu Limited`. Through its wholly owned subsidiary, Kamdhenu Colour and Coatings Limited (KCCL), the Company offers a comprehensive range of decorative paints under the proprietary brand name `Kamdhenu Paints`. Incorporated in October 2019, Kamdhenu Ventures has established itself as one of the leading paint companies in India, selling under the "Kamdhenu" brand. The company offers over 40 SKUs across more than 10 product categories. Kamdhenu Ventures Limited (Kamdhenu Paints) is an India-based company primarily engaged in the manufacturing of decorative paints. Its business also includes the trading of thermo mechanically treated (TMT) bars and structural steel, and the manufacturing of painted products. The company's segments are categorized into the trading of Steel products and its paint business.
Kamdhenu Paints has positioned itself as a comprehensive paint solutions provider, offering a diverse portfolio that includes exterior & interior emulsions, acrylic distempers, water-based and solvent primers, synthetic and GP enamel, wood finishes, aluminum paints, textured and designer finishes, strainers, polyurethane (PU) wood finishes, and metallic finishes.
Kamdhenu Ventures Ltd is classified as a small-cap company in the paint industry, with a market capitalization of ₹318 crore as of July 2025. It was listed on the stock exchanges on January 24, 2023. The company's stock has experienced significant volatility, declining by 75.63% on BSE over the past 12 months. However, it has shown some short-term recovery, with a share price increase of 9.84% on BSE in the last 3 months. The 52-week high was ₹58.6, and its 52-week range spans from ₹9.10 to ₹58.60.
- Revenue: ₹82.76 Crore (as on March 2025, Q4 FY25)
- Net Profit: ₹1.89 Crore (as on March 2025, Q4 FY25)
The company reported a net profit decline of 55.00% to ₹1.89 crore for the quarter ended March 2025, compared to ₹4.20 crore in the previous quarter ended March 2024. Sales also declined by 2.81% to ₹82.76 crore in the quarter ended March 2025, against ₹85.15 crore during the same period last year.
- Net Profit: Declined 51.91% to ₹6.66 crore for the year ended March 2025, compared to ₹13.85 crore in the previous year ended March 2024.
- Sales: Declined 8.78% to ₹266.10 crore for the year ended March 2025, against ₹291.71 crore during the previous year ended March 2024.
- P/E Ratio: 40.05 times (as on 25-Apr-2025), a 6% premium to its peers' median range of 37.76 times.
- P/B Ratio: 2.19 times (as on 25-Apr-2025), a 79% discount to its peers' median range of 10.59 times.
- Return on Equity: Low at 3.02% over the last 3 years.
- Debtors: High at 189 days.
- Market Capitalization: ₹318 Crore (July 2025).
Kamdhenu Ventures Ltd operates a state-of-the-art production facility for decorative paints located at Chopanki, Bhiwadi, in Rajasthan. This facility has an installed capacity of 36,000 KL per annum. Its strategic location provides efficient access to key markets, particularly across northern India.
The company has cultivated an extensive distribution network, comprising over 4,300 dealers as of March 31, 2024. This network is further supported by over 5,000 active painters, engaging with the company through specialized solutions tailored for household and industrial demands. KCCL has positioned itself among the top paint companies in India, with its products widely accepted across Tier-1, Tier-2, and Tier-3 cities, as well as in urban and rural areas.
Kamdhenu Ventures Ltd focuses on a broad spectrum of decorative paint products, encompassing exterior and interior emulsions, acrylic distempers, primers (water-based and solvent), synthetic and GP enamels, wood finishes, aluminum paints, textured and designer finishes, strainers, and specialized PU and metallic finishes.
Management has strategically emphasized expansion into tier-2 and tier-3 markets, recognizing that approximately 70% of India's population resides in these regions. This focus is driven by the increasing infrastructure investments and city planning initiatives in these areas, which in turn boost demand for paint products. The company has also pursued premiumization strategies, evidenced by a 14% increase in the Average Selling Price (ASP) per KG/Ltr for FY24 over FY23, primarily due to the enhanced premium product mix.
Despite recent financial performance challenges, Kamdhenu Ventures Ltd maintains its strategic positioning within the growing Indian paint market. It aims to leverage its extensive dealer network and its targeted approach to underserved markets to drive future growth, capitalizing on urbanization trends, infrastructure development, and rising disposable incomes across India's smaller towns and rural areas.
- May 27: EGM scheduled for June 20 to appoint DSP & Associates as statutory auditor, replacing the resigned auditor.
- May 22: Submission of the Annual Secretarial Compliance Report for FY ended March 31, 2025. Minor XBRL filing delays were addressed, and fines paid.
- May 20: Submission of the Transcript of Earnings/Conference call for Investors/Analysts held on May 14, 2025.
- May 15: Appointment of DSP & Associates as statutory auditor for the subsidiary, effective May 15, 2025.
