KAMA Holdings Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26 to BSE Limited on August 7, 2026, in compliance with Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report is prepared on a standalone basis and forms an integral part of the company's Annual Report for FY 2025-26. The filing was signed by Ekta Maheshwari, Whole-time Director, CFO & Company Secretary.

Company Overview and Financial Profile

KAMA Holdings is classified as a Core Investment Company under the Reserve Bank of India (Core Investment Companies) Directions, 2025, primarily engaged in investing and granting loans to group companies. Its sole business activity falls under "Activities of Holding Companies" (NIC Code: 642), contributing 100% of its turnover. The company operates 2 national offices and has no international presence or export revenues.

The following table summarises key financial and corporate parameters disclosed in the report:

Workforce Composition and Employee Well-Being

As at the end of FY 2025-26, KAMA Holdings had a total of 3 permanent employees — 2 male (66.67%) and 1 female (33.33%) — with no workers or differently abled employees on record. The company reported zero employee turnover across FY 2025-26, FY 2024-25, and FY 2023-24 for both permanent employees and workers.

All 3 permanent employees received 100% coverage across health insurance, accident insurance, and day care facilities. Maternity benefits covered 1 employee (33.33%) and paternity benefits covered 2 employees (66.67%). Provident Fund coverage stood at 100% for employees in both FY 2025-26 and FY 2024-25, with contributions duly deposited with the relevant authority.

All employees received training on health and safety measures as well as skill upgradation in both FY 2025-26 and FY 2024-25, with 100% coverage across all categories. Performance and career development reviews were conducted for 100% of employees in both years.

Board Composition and Remuneration

The Board of Directors comprised 6 members, of whom 2 (33.33%) were female. The sole Key Managerial Personnel (KMP) was female, representing 100% female representation at the KMP level.

Median remuneration details for FY 2025-26 are as follows:

Gross wages paid to female employees as a percentage of total wages increased from 46.04% in FY 2024-25 to 50.95% in FY 2025-26. All permanent employees were paid above the statutory minimum wage in both years.

Governance, Compliance, and Stakeholder Engagement

The Board of Directors holds oversight responsibility for the implementation of Business Responsibility policies. The company does not have a dedicated Board committee for sustainability-related decisions. Policies covering Principles 1, 3, 4, 5, 7, and 8 of the National Guidelines on Responsible Business Conduct (NGRBC) have been approved by the Board and translated into procedures. Principles 2, 6, and 9 were assessed as not material to the company's business given its nature as an Unregistered Core Investment Company.

No monetary or non-monetary penalties, fines, or disciplinary actions were reported in FY 2025-26. Shareholder complaints rose to 105 in FY 2025-26 from 21 in FY 2024-25, with all complaints resolved and none pending at year-end. Zero complaints were recorded across all other stakeholder categories, including employees, investors, customers, communities, and value chain partners.

The company reported that 100% of loans and advances and 100% of investments were transacted with related parties in both FY 2025-26 and FY 2024-25, consistent with its holding company structure. The number of days of accounts payables stood at 11.24 in FY 2025-26, compared to 9.66 in FY 2024-25.

Subsidiary Structure and CSR

KAMA Holdings holds a 50.21% stake in SRF Limited and its associated entities, and a 100% stake in SRF Transnational Holdings Limited, KAMA Realty (Delhi) Limited, Shri Educare Limited, Shri Educare Maldives Private Limited, and KAMA Real Estate Holding LLP, among others. None of the subsidiaries participate in the Business Responsibility initiatives of the listed entity.

CSR applicability under Section 135 of the Companies Act, 2013 has been confirmed. The company sourced 6.34% of input materials directly from MSMEs/small producers in FY 2025-26, up from 4.89% in FY 2024-25, with 100% of inputs sourced from within India in both years. Environmental disclosures related to energy, water, emissions, and waste were reported as Not Applicable, consistent with the company's non-manufacturing, office-based operations.

KAMA Holdings Limited reported a 24.6% year-on-year increase in standalone net profit to ₹13,135.77 lakh for the financial year ended March 31, 2026 (FY26), compared to ₹10,540.61 lakh in FY25. The growth was primarily driven by a rise in dividend and other income, which surged 23.5% to ₹13,527.08 lakh from ₹10,953.58 lakh in the prior year. As a core investment company holding significant stakes in subsidiaries like SRF Limited, KAMA’s profitability remains closely tied to the dividend payouts from its investee companies.

The Board of Directors did not recommend a final dividend for FY26. However, shareholders received two interim dividends during the year: ₹18.25 per share paid in September 2025 and ₹23.20 per share paid in April 2026, aggregating to ₹13,301.54 lakh. The company’s total revenue from operations stood at ₹13,527.08 lakh, while total expenses remained low at ₹371.01 lakh. Profit before tax increased to ₹13,178.20 lakh from ₹10,544.67 lakh in FY25.

Financial Performance Highlights

The company’s financial results for FY26 reflect steady growth in investment income with minimal operational overheads. Key financial metrics are detailed below:

An exceptional item of ₹17.36 lakh was recognized in FY26 due to the one-time impact of new labor codes, as per Ind AS 19 requirements regarding changes in employee benefit plans. This amount was presented under exceptional items in the statement of profit and loss.

Subsidiary Performance and Outlook

KAMA Holdings operates primarily through its subsidiaries, with SRF Limited being the most significant. SRF Limited, engaged in technical textiles, specialty chemicals, and packaging films, continues to be a major contributor to KAMA’s income through dividends. Other subsidiaries include Shri Educare Limited, which expanded its portfolio by adding six schools in FY26, and SRF Transnational Holdings Limited, a non-deposit taking NBFC.

Shri Educare Limited reported a revenue of ₹3,699.13 lakh and a profit after tax of ₹760.56 lakh for FY26. Meanwhile, SRF Transnational Holdings Limited incurred a loss of ₹182.62 lakh, reversing a profit of ₹189.54 lakh in the previous year. The company plans to continue consolidating its stake in SRF and other subsidiaries, leveraging their growth prospects to drive future returns.

Corporate Governance and AGM

The 26th Annual General Meeting of KAMA Holdings Limited is scheduled for September 1, 2026, to be held via Video Conferencing. Shareholders will consider the re-appointment of Mr. Ashish Bharat Ram as a director, who retires by rotation. Mr. Jagdeep Singh Rikhy resigned as an independent director in October 2025, and Mr. Sanjay Kapoor was appointed as his successor via postal ballot in December 2025.

M/s V Sahai Tripathi & Co., Chartered Accountants, were re-appointed as statutory auditors for a five-year term. The company complied with all applicable provisions of the Companies Act, 2013, and SEBI Listing Regulations. No significant related party transactions were reported that could be considered material, and all transactions were conducted on an arm’s length basis.