Kamdhenu Limited has scheduled its 32nd Annual General Meeting for September 25, 2026. The meeting will be held via video conferencing at 12:00 pm IST. The Board recommends a final dividend of ₹0.40 per equity share for FY26.

The agenda includes the adoption of audited financial statements for the year ended March 31, 2026. Shareholders will vote on the dividend declaration and several board appointments. The record date for dividend entitlement is fixed as September 18, 2026.

Board Appointments and Reappointments

Shareholders will consider the reappointment of Satish Kumar Agarwal as a director liable to retire by rotation. He has served since 1994 and holds 77,98,170 equity shares. His remuneration for FY26 was ₹2.88 crore. The proposed pay scale for FY27 to FY29 ranges from ₹40 lakh to ₹50 lakh per month.

The meeting will also seek approval for the reappointment of Smt. Pravin Tripathi as an independent director. She will serve a second term from May 30, 2027, to May 29, 2032. Tripathi, aged 76, is eligible under SEBI regulations despite exceeding the standard age limit. She currently holds directorships in Jay Bharat Maruti Limited and JBM Auto Limited.

Related Party Transactions

The Board seeks shareholder consent for the remuneration of Smt. Vipil Agarwal, Assistant General Manager – Business Development. As the spouse of CFO Harish Kumar Agarwal, she is classified as a related party. Her monthly remuneration limit will increase to ₹5 lakh effective October 1, 2026. This requires approval under Section 188 of the Companies Act, 2013.

Cost Audit and Logistics

Members will ratify the remuneration of M/s K.G. Goyal & Associates as cost auditors for FY27. The fee is set at ₹75,000 plus applicable taxes. Remote e-voting opens on September 22, 2026, and closes on September 24, 2026. The facility allows up to 1,000 members to join via video conferencing on a first-come-first-served basis.

Kamdhenu Limited reported a Profit After Tax of ₹78.35 crore for FY 2025-26, up 28.73% from ₹60.87 crore in FY 2024-25, as royalty income and franchise volumes drove profitability despite softer steel realisations.

Financial Performance at a Glance

Revenue from operations rose to ₹763.39 crore in FY 2025-26 from ₹747.49 crore in FY 2024-25, a year-on-year increase of approximately 2%. Profit Before Tax grew 31.25% to ₹10,552.29 Lakhs (₹105.52 crore) from ₹8,040.09 Lakhs (₹80.40 crore) in the prior year. Total income for FY 2025-26 stood at ₹77,469.59 Lakhs, up 2.21% over ₹75,794.51 Lakhs in FY 2024-25.

Royalty and Franchise Business

Royalty income through franchisee sales reached ₹174.46 crore in FY 2025-26, up 25.4% from ₹139.07 crore in FY 2024-25. The contribution of royalty income to total revenue increased to 22.9% from 18.6% in the prior year. Franchisee volumes grew 10.3% to 37.9 Lakh MT, while total volumes sold rose 10% to 39.1 Lakh MT. Brand sales turnover reached approximately ₹23,000 crore.

Balance Sheet and Return Metrics

Kamdhenu maintained a near debt-free balance sheet, with the debt-equity ratio at 0.02 in FY 2025-26, attributable solely to lease liabilities under Ind AS. Net worth strengthened to ₹396.37 crore from ₹316.35 crore in FY 2024-25. Return on Capital Employed stood at 25.98% and Return on Equity at 21.99%.

Dividend and AGM

The Board of Directors recommended a final dividend of ₹0.40 per equity share (40% of face value of ₹1 per equity share) for FY 2025-26, the highest ever declared by the company, subject to shareholder approval at the 32nd Annual General Meeting scheduled for September 25, 2026. The total cash outflow on account of the dividend, if approved, would be ₹11.28 crore, representing a dividend payout of 14.39% of profits.

CSR and Workforce

During FY 2025-26, Kamdhenu was required to spend ₹130 Lakhs toward its CSR obligation. The company incurred CSR expenditure of ₹271.40 Lakhs on the Kamdhenu Skill Development Program — Ongoing Project II, resulting in an excess spend of ₹141.40 Lakhs over the prescribed obligation. As of March 31, 2026, the company had 618 permanent employees on its payroll.

Multi-Year Financial Trends

The following tables capture key multi-year performance trends reported in the annual report.

Revenue from Operations (₹ Crore)

PAT (₹ Crore)

Dividend Payout (%)