Kamdhenu Limited continues to showcase Profitability records with PBT Margins at 13.8% in FY26, an improvement of 300 Bps YoY
Gurugram: Kamdhenu Limited, India’s largest manufacturer and seller of branded TMT Bars, in the retail segment, has declared its audited Financial Results for the quarter and financial year ended 31st March 2026
| Particulars (Rs. Crs.) | Q4 FY26 | Q4 FY25 | Y-o-Y | FY26 | FY25 | Y-o-Y |
| Revenue from Operations | 207.6 | 197.8 | 5% | 763.4 | 747.5 | 2% |
| Profit Before Tax | 24.4 | 22.5 | 8% | 105.5 | 80.4 | 31% |
| PBT Margin (%) | 11.7% | 11.4% | 30 bps | 13.8% | 10.8% | 300 bps |
| Profit After Tax | 17.4 | 17.1 | 2% | 78.4 | 60.9 | 29% |
| Particulars (Rs. Crs.) | Q4 FY26 | Q4 FY25 | Y-o-Y | FY26 | FY25 | Y-o-Y |
| Revenue from Own Facilities | 162.0 | 159.5 | 2% | 588.5 | 607.7 | -3% |
| Volume from Own Facilities (“000” MT) | 31.6 | 32.0 | -1% | 121.1 | 119.8 | 1% |
| Revenue from Royalty Income | 45.5 | 38.2 | 19% | 174.5 | 139.1 | 25% |
| Franchise Volumes (In Lakh MT) | 10.2 | 9.4 | 8% | 37.9 | 34.4 | 10% |
Dividend: Rs.0. 4 per share dividend (i. e. 40% of Face Value of Re.1 each) is proposed by the Board members, subject to shareholders approvals
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Commenting on the results, Mr. Satish Kumar Agarwal, Chairman & Managing Director said:
“FY26 was another strong year for Kamdhenu, reflecting the strength and scalability of our asset-light franchise-led business model. The year was marked by robust growth in our royalty income, which increased 25% YoY to Rs.175 crore, significantly outperforming the broader business growth trajectory. As a result, the contribution of royalty income to total revenue increased to 22.9% in FY26 from 18.6% in FY25 — an expansion of 430 basis points — highlighting the increasing preference of our branded steel products.
This growth was driven by continued expansion and improving throughput across our franchise network. During FY26, franchisee volumes grew 10% YoY to 37.9 lakh MT, supported by stronger branded sales and deeper market penetration across regions.
Brand sales turnover reached a record high at approximately Rs.23,000 crore. The consistent scale-up of our franchise ecosystem continues to strengthen partner productivity while enabling Kamdhenu to grow profitably with low capital intensity.
Operationally, FY26 remained healthy, with Revenue from Operations at Rs.763 crore, up 2% YoY. Profit Before Tax increased to Rs.106 crore, up 31% YoY with margin of 13.8%, an increase of 300 bps YoY, while PAT grew 29% YoY to Rs.78 crore.
Strong operational discipline, efficient capital allocation, and a debt-free balance sheet continued to
support healthy return ratios and financial strength.
Looking ahead, we remain optimistic about the long-term growth outlook for the steel and construction sectors. Continued government focus on infrastructure creation, urban development, housing, and public capital expenditure is expected to sustain demand for quality branded TMT bars.
With a scalable franchise network, strong brand equity, and a capital-efficient business model, Kamdhenu remains well positioned to capture these opportunities and drive sustainable value creation for all stakeholders.”
