KAMOPAINTSConsumer Discretionary

Kamdhenu Ventures Limited

Paints · ISIN INE0BTI01037 · BSE 543747 · NSE EQ · FV ₹1
Last price
₹4
+2.36%today
What this company does

Kamdhenu Ventures Limited operates in Paints, part of the Consumer Discretionary sector. It booked ₹58 cr of revenue in its latest quarter (Q2 FY27) and kept -2.6% of sales as profit. It is the 8th largest of 8 Paints companies we track, by market value.

“PAINTING INDIA’S ASPIRATIONS Kamdhenu Paints is one of India’s fastest-growing decorative paint brands, driven by the belief that color is not just about beauti昀椀cation but about aspiration, identity, and progress. With a wide- ranging product portfolio, a strong national footprint, and deep-rooted customer trust, we are steadily transforming into a reliable and recognized household name in the Indian paint industry.”
Their stated vision

“To be established as the leading manufacturer and supplier of paint products with following global best governance practises and our founding philosophy as the corner stone.”

In the report:
50out of 100
Equitytale Health Score
Mixed

Healthier than 50% of companies in Consumer Discretionary, on all six measures of filed financials. Each measure is ranked against the 294–428 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
34

At close. Not part of the score.

Profitability & returns13

How much profit it earns on the money it employs

Balance sheet45

How much it owes, and whether earnings cover the interest

Cash quality66

Whether reported profit actually arrives as cash

Growth & consistency44

Whether sales and profit have grown, and how steadily

Valuation78

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Some things to watch
Strengths
✓ Promoters hold 53%
✓ No promoter shares pledged
Watch-outs
! Currently loss-making
! Thin -2.6% net margin
! Low -3.6% return on equity
! Operating cash flow is negative

What if I invest in KAMOPAINTS?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹4▲ +2.36%
latest close · 2026-11-04
52-wk low ₹474 sessions so far52-wk high ₹5
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/B ratio0.74Below book
Below bookModerateHigh
EV / EBITDA31.8High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity-3.6%Loss
WeakFairStrong ▸15%
Return on capital-1.3%Loss
WeakFairStrong
Net margin-2.6%Loss
ThinDecentStrong
EBITDA margin2.1%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.19Comfortable
LowModerateHigh ▸1
Interest cover-0.6×Risky
RiskyOkayStrong ▸5×
Current ratio2.24Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹128 cr
Book value
₹5
EPS
₹-0.05
latest quarter
Net debt
₹28 cr
owes more than its cash
Enterprise value
₹156 cr
EBITDA
₹5 cr
annualised
EBIT
₹-2 cr
annualised
Operating margin
-1.1%
Return on assets
-2.0%
Earnings yield
—
P/S
0.55
Sales / share
₹7.1
Tax rate
—
Face value
₹1
Shares
32.9 cr
Working capital
₹132 cr
Current assets
₹239 cr
Current liabilities
₹107 cr
Delivery %
77.1%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹4–₹4, midpoint ₹4

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹58 cr
Other Income₹10.8 L
Total Income₹58 cr
Cost of Materials₹35 cr
Purchases of Stock-in-Trade₹3 cr
Inventory Change (±)₹-6 cr
Employee Benefit Expense₹12 cr
Finance Costs₹1 cr
Depreciation & Amortisation₹2 cr
Other Expenses₹12 cr
Total Expenses₹60 cr
Profit before Tax₹-2 cr
Tax Expense₹-14 L
Net Profit₹-2 cr
Net margin on total income-2.6%
Where the money goes · Q2 FY27
% of total spend
Materials + stock-in-trade₹33 cr54.6%
Employee benefit expense₹12 cr19.8%
Finance costs₹1 cr1.8%
Depreciation & amortisation₹2 cr3.1%
Other expenses₹12 cr20.8%
Total income ₹58 cr

The company made a net loss of ₹2 cr this quarter — income covered only ₹97 of every ₹100 it spent on costs and tax.

Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue75 cr46 cr58 cr
Total income76 cr46 cr58 cr
Expenses79 cr51 cr60 cr
Profit before tax-4 cr-5 cr-2 cr
Tax-98.1 L-11.8 L-14 L
Net profit (owners' share)-3 cr-3 cr-2 cr
Net margin (owners' share, on revenue)-3.6%-7.4%-2.6%
EPS (₹)-0.09-0.10-0.05
YoY (latest quarter): total income +2.3% · net profit —
Balance sheet & cash flow · as of Sep 2026
Low debt
Total assets
₹301 cr
Shareholder equity
₹173 cr
parent shareholders
Total debt
₹32 cr
Cash
₹4 cr
Cash flow · H1 FY27
Operating
₹-12 cr
Investing
₹-5 cr
Financing
₹2 cr
Peer comparison
Paints · by market value
CompanyPriceMarket capP/E
Asian Paints Limited₹2,438₹2.34 L cr54.7
Berger Paints (I) Limited₹480₹55,933 cr34.6
Kansai Nerolac Paints Limited₹187₹15,132 cr16.4
JSW Dulux Limited₹2,995₹13,638 cr42.8
Indigo Paints Limited₹866₹4,132 cr77.3
Sirca Paints India Limited₹409₹2,322 cr35.9
Shalimar Paints Limited₹80₹673 cr—
Kamdhenu Ventures Limitedthis company₹4₹125 cr—
Same industry · latest reported numbers · not a recommendation.
Corporate actions
ActionDetailEx-date
Stock splitStock Split From Rs.5/- to Rs.1/-14 Jun 2024
Bonus issue1:11 Aug 2023
Who owns it · 2026-09-30
No pledge
Promoter
52.5%
FII / Foreign
—
DII / Domestic
0.0%
Retail / others
47.5%
Promoter stake up 2.2% over the last 12 quarters.
Smart-money activity
Insider trades
SoldHarish Kumar Agarwal · Other50,000 · ₹22.2 L2 Sep 24
SoldASHIM RANJAN BANERJEE · Other49,000 · ₹21.8 L2 Sep 24
SoldASHIM RANJAN BANERJEE · Other51,000 · ₹22.0 L30 Aug 24
Bulk / block deals
BoughtSKSE SECURITIES LTD · NSE18.34 L @ ₹7.338 Jan 26
SoldSKSE SECURITIES LTD · NSE18.34 L @ ₹7.238 Jan 26
BoughtMAHALAXMI BROKRAGE INDIA PRIVATE LIMITED · NSE27.57 L @ ₹6.9425 Nov 25
Stake changes
SoldMinerva Emerging Opportunities Fund Ltd→ 1.21% · 30.00 L4 Jul 24
SoldMinerva Emerging Opportunities Fund Ltd→ 0.00% · 4.85 L31 May 24
SoldAidos India Fund Limited→ 0.00% · 2.02 L31 May 24
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 25 Sep 2026
See the official result
1
TO RECEIVE, CONSIDER AND ADOPT THE AUDITED (STANDALONE AND CONSOLIDATED) FINANCIAL STATEMENTS OF THE COMPANY FOR THE FINANCIAL YEAR ENDED 31ST MARCH, 2026, TOGETHER WITH REPORTS OF THE AUDITORS’ AND THE BOARD OF DIRECTORS THEREON.
Backed by 100% of shareholders other than promotersneeded 50%
44.31 L votes for, 20,158 against
2
TO APPOINT A DIRECTOR IN PLACE OF SHRI SUNIL KUMAR AGARWAL (DIN: 00005973), DIRECTOR OF THE COMPANY, WHO RETIRES BY ROTATION AT THIS ANNUAL GENERAL MEETING AND BEING ELIGIBLE OFFERS HIMSELF FOR REAPPOINTMENT AS A DIRECTOR.
Promoters had a personal stake in this
Backed by 97% of shareholders other than promotersneeded 50%
43.24 L votes for, 1.14 L against
3
RE-APPOINTMENT OF SHRI RAMESH CHAND SURANA (DIN: 00089854) AS A NON-EXECUTIVE INDEPENDENT DIRECTOR OF THE COMPANY FOR SECOND TERM OF FIVE CONSECUTIVE YEARS:
Backed by 97% of shareholders other than promotersneeded 75%
43.34 L votes for, 1.17 L against
4
RE-APPOINTMENT OF SHRI MADHUSUDAN AGARWAL (DIN: 00338537) AS A NON-EXECUTIVE INDEPENDENT DIRECTOR OF THE COMPANY FOR SECOND TERM OF FIVE CONSECUTIVE YEARS:
Backed by 97% of shareholders other than promotersneeded 75%
43.20 L votes for, 1.17 L against

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 25 named members
owning 52.5% between them · as of 2026-09-30
SUNIL KUMAR AGARWAL8.14%
SARITA AGARWAL7.84%
SAURABH AGARWAL6.57%
SACHIN AGARWAL5.93%
SATISH KUMAR AGARWAL5.41%
Kamdhenu Limited4.45%
RADHA AGARWAL3.22%
SHAFALI AGARWAL2.32%
Business done with them
FY2026 · 6 of the group
The company paid ₹5 cr to companies in the promoter group last year — about 2.1% of its ₹245 cr revenue and received ₹13.3 L back from them.
Saurabh Agarwal
Other payments to them · Short-term employee benefits to Key Managerial Personnel
also owns 6.57% of the company
₹5 cr
company paid
KAMDHENU JEEVANDHARA FOUNDATION
Other payments to them · CSR Contribution
₹11.3 L
company paid
KAMDHENU LIMITED
Sold goods to them · Sale of Goods/Services
also owns 4.45% of the company
₹10.5 L
company received
Sunil kumar Agarwal
Other payments to them · Director Sitting Fee
also owns 8.14% of the company
₹4.9 L
company paid
Sachin Agarwal
Other payments to them · Director Sitting Fee
also owns 5.93% of the company
₹4.8 L
company paid
KAMDHENU LIMITED
Bought goods from them · Sale of Goods/Services
also owns 4.45% of the company
₹3.5 L
company paid
RADHEY BIO. TECH PRIVATE LIMITED
Sold goods to them · Sale of Goods/Services
₹1.6 L
company received
KAMDHENU LIMITED
Paid them for services · Sale of Goods/Services
also owns 4.45% of the company
₹1.6 L
company paid
KAMDHENU JEEVANDHARA FOUNDATION
Sold goods to them · CSR Contribution
₹1.2 L
company received

The company also transacted with 8 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹13 cr raised in Mar 2026 by selling shares to selected investors

As of Jun 2026, the company says it has spent 100% of what it set aside.

Infusion of funds in Kamdhenu Colour and Coatings Limited, the wholly-owned subsidiary for its business operations and expansion and general corporate purposes
100%
₹13 cr of ₹13 cr
₹65 cr raised in Apr 2023 by selling shares to selected investors

As of Jun 2026, the company says it has spent 100% of what it set aside.

Redemption of 9% Non-Cumulative Compulsorily Redeemable Preference Shares issued pursuant to Scheme of Arrangement; - General Corporate Purposes; - To infuse funds in its Wholly Owned Subsidiary i.e. Kamdhenu Colour and Coatings Limited having paint business and the funds shall be utilized towards: i. Meeting the Working Capital requirement of Paint Business; ii. Image Building through aggressive Branding and Marketing of the Paint products; iii. Meeting Capital expenditure by way of Addition of fixed Machineries and tinting machine at dealers counter; iv. Reduction in Guaranteed Emergency Credit Line (GECL) facility loan/debt.
100%
₹65 cr of ₹65 cr
Spent by quarter: 98% → 99% → 99% → 99% → 99% → 100% (to Jun 2026)

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.