Kamdhenu Ventures Posts Impressive Turnaround, Reports PAT of Rs 4.1 Crore in Q3FY24

Company Bounces Back, Surpassing Expectations in Recent Financial Results

Kamdhenu Ventures Limited, India’s leading brand in Indian Decorative Paints Segment, has declared its Unaudited Financial Results for the quarter and nine months ended 31st December 2023

For the quarter ended 31 December 2023, the company reported revenue from operations at Rs. 79.1 Crores, up 14% YoY. EBITDA was reported at Rs. 6.2 Crores, a remarkable turnaround from a loss of -0.1 Crore in the corresponding period last year. PAT also turned positive, from a loss of 3.3 Crores in Q3FY23, to a profit of Rs. 4.1 Crores in Q3FY24.

For the nine months ended 31 December 2023, the company reported revenue from operations at Rs. 206.6 Crores, up 9% YoY. EBITDA was reported at Rs. 15.1 Crores, a solid turnaround from a loss of -0.6 Crores in the corresponding period last year. PAT also turned positive, from a loss of 8.8 Crores in 9MFY23, to a profit of Rs. 9.7 Crores in 9MFY24.

Commenting on the results and performance, Mr. Saurabh Agarwal, Managing Director said:

During the quarter and nine months ending in December 2023, our company maintained its strong growth trajectory. Revenue for the 9M FY24 surged by 9% year on year reaching Rs. 207 crores. This growth was driven by an improved sales mix and an extended festive season. Our strategic focus on product premiumization has yielded positive results, as reflected in our EBITDA, which turned positive at Rs. 15 crores compared to a negative number last year.

Looking ahead, we remain committed for enhancing our product portfolio’s premiumization and capitalizing on the improving demand landscape. By continuing to innovate and meet evolving customer preferences, we are well-positioned to sustain our growth momentum and drive profitability, offering compelling opportunities for investors.

Kamdhenu Colour and Coatings Limited (KCCL) operates as a subsidiary of Kamdhenu Ventures Limited (KVL), the holding company. KVL’s strategic oversight empowers KCCL to navigate the decorative paint market effectively. This relationship facilitates strategic decision-making, resource allocation, and market expansion initiatives, ensuring sustained growth and competitiveness for KCCL within the industry

The demand for decorative paints in India is thriving, fueled by urbanization, rising incomes, and a desire for personalized living spaces. As lifestyles evolve, consumers seek to express individuality through home decor, driving the need for diverse paint options. Sustainability is also a growing concern, further shaping consumer preferences. In this dynamic landscape, the Indian decorative paint market presents ample opportunities for innovation to meet evolving consumer aspirations

In embracing innovation, our commitment to excellence propels us forward in the vibrant landscape of India’s decorative paint market.”

Kamdhenu Ventures Limited (Kamdhenu Paints), established in 2008, is a leading brand in Indian decorative paints segment. Kamdhenu Paints is committed to providing a comprehensive range of high- quality paint products that meet the diverse needs of our customers. Our product range includes a wide selection of exterior & interior emulsions, water- based primers, wood finishes, textured & designer paints, and construction chemicals. By offering such an extensive range of products, we aim to position Kamdhenu as a one stop- shop for all of our customers’ construction needs.

Our products are widely available across India, allowing us to reach and serve customers in every corner of the country. The company offers 40 + SKU’ s across product categories and has 34 sales depots with a dealer network of ~ 4,000 +

The Kamdhenu brand is synonymous with products that uphold the highest standards of quality and ensure complete customer satisfaction. We achieve this through the use of modern automation methods and technology, backed by our robust research and development facilities.

We are constantly striving to find new and innovative ways to reduce our impact on the environment. To remain true to our commitment to sustainability, we have developed water- based paints that are environment- friendly and low in Volatile Organic Compound ( VOC). We deploy highly accurate machinery in our production process, which is inspired by our state- of- the- art manufacturing capabilities.