Kamdhenu FY26 PAT rises 29% to ₹78.4 crore, margins expand
Kamdhenu Limited reported a 29% year-on-year increase in net profit to ₹78.4 crore for FY26, with PBT margins improving by 300 basis points to 13.8%. Revenue from operations rose 2% to ₹763.4 crore, supported by a 25% surge in royalty income to ₹174.5 crore. The Board recommended a final dividend of ₹0.40 per share, while franchise volumes grew 10% to 37.9 lakh MT.

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Kamdhenu Limited has reported its audited financial results for the financial year ended March 31, 2026, posting a 29% year-on-year increase in net profit to ₹78.4 crore. The company achieved a Profit Before Tax (PBT) margin of 13.8% in FY26, an improvement of 300 basis points compared to the previous year. Revenue from operations for FY26 rose 2% to ₹763.4 crore. The Board of Directors has recommended a final dividend of ₹0.40 per equity share, subject to shareholder approval.
For the quarter ended March 31, 2026, the company reported a standalone net profit of ₹17.4 crore, compared to ₹17.1 crore in the corresponding quarter of the previous year. Revenue for Q4FY26 stood at ₹207.6 crore, up from ₹197.8 crore in Q4FY25. PBT for the quarter increased to ₹24.4 crore, with margins expanding to 11.7% from 11.4% in the same period last year.
FY26 Financial Performance
The following table summarises Kamdhenu's key financial metrics for FY26 compared to FY25:
| Metric | FY26 | FY25 |
|---|---|---|
| Revenue from operations | ₹763.4 crore | ₹747.5 crore |
| Profit Before Tax | ₹105.5 crore | ₹80.4 crore |
| Profit After Tax | ₹78.4 crore | ₹60.9 crore |
| PBT Margin (%) | 13.8% | 10.8% |
Operational Highlights
Revenue from own facilities for FY26 stood at ₹588.5 crore, while revenue from royalty income surged 25% year-on-year to ₹174.5 crore. The contribution of royalty income to total revenue increased to 22.9% in FY26 from 18.6% in FY25. Franchise volumes grew 10% YoY to 37.9 lakh MT, and volumes from own facilities reached 121.1 thousand MT. Brand sales turnover reached approximately ₹23,000 crore during the year.
Dividend Recommendation
The Board recommended a final dividend of 40%, or ₹0.40 per equity share of face value ₹1 each, for the financial year ended March 31, 2026. The dividend is subject to the approval of shareholders at the ensuing Annual General Meeting.
Management Commentary
Mr. Satish Kumar Agarwal, Chairman & Managing Director, attributed the strong performance to the asset-light franchise-led business model. He highlighted the robust growth in royalty income and the expansion of the franchise network. He noted that the company maintained a debt-free balance sheet and remains optimistic about the long-term growth outlook for the steel and construction sector, supported by government infrastructure spending.
Historical Stock Returns for Kamdhenu
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -5.84% | -0.54% | +5.30% | -8.24% | -22.35% | +61.13% |
How does Kamdhenu plan to sustain the 25% surge in royalty income amid potential market saturation?
What is the company's capital allocation strategy for its debt-free balance sheet to drive future growth?
Will the asset-light franchise model face challenges if government infrastructure spending slows down?


































