Kamdhenu Limited — Earnings Release 2025

May 7, 2025

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KL/SEC/2025-26/14 Date: 7[th] May, 2025

To, To, The Manager- Listing The Manager- Listing National Stock Exchange of India Limited, BSE Limited, Exchange Plaza, Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (E), Mumbai-400 051 Dalal Street, Mumbai- 400 001 NSE Symbol: KAMDHENU BSE Scrip Code: 532741

Sub: Press Release-Financial Highlights for Q4 & FY25.

Dear Sir/Madam,

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith Press Release of the Company regarding performance of the Company for the Quarter and Financial Year ended on 31[st] March, 2025.

We request you to kindly take the same on records.

Thanking you,

Yours faithfully,

For Kamdhenu Limited

Khem Digitally signed by Khem Chand Chand Date: 2025.05.07 17:09:35 +05'30'

Khem Chand, Company Secretary & Compliance Officer

Encl: as above

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KAMDHENU LIMITED

Q4 & FY25 FINANCIAL HIGHLIGHTS

7[th] May 2025, 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 31[st] March 2025

Particulars (Rs. Crs.)	Q4 FY25	Q4 FY24	Y-o-Y	FY25	FY24	Y-o-Y
Revenue from Operations	197.8	176.0	12%	747.5	724.7	3%
Profit Before Tax	22.5	22.2	1%	80.4	66.9	20%
Profit After Tax	17.1	16.8	2%	60.9	50.1	21%
Particulars (Rs. Crs.)	Q4 FY25	Q4 FY24	Y-o-Y	FY25	FY24	Y-o-Y
Revenue from Own Facilities	159.5	140.8	13%	607.7	595.2	2%
Volume from Own Facilities("000" MT)	32.0	28.6	12%	119.8	114.3	5%
Revenue from Royalty Income	38.2	35.1	9%	139.1	128.7	8%
Franchise Volumes(In Lakh MT)	9.4	9.0	5%	34.4	32.6	6%

• RoE stood at 19.2% as on 31[st] March 2025

• RoCE stood at 25.5% as on 31[st] March 2025

• The Board of Directors have declared a Dividend of ₹0.25/- per Equity Share of Face Value of ₹1 each of the Company (25% of Face Value)

Commenting on the results, Mr. Satish Kumar Agarwal, Chairman & Managing Director said:

“Despite by a challenging macro environment, driven primarily by muted government and private sector capital expenditure we continued to demonstrate resilience, delivering robust double-digit year-on-year revenue growth for the second consecutive quarter, consistent with our earlier commentary on an improving demand trajectory. Revenue from operations stood at Rs. 198 crore, registering a 12% YoY increase. Profit Before Tax was Rs. 23 crore, reflecting a marginal YoY growth of 1%, impacted by a high base in Q4 FY24 which had benefited from a one-time Rs. 4 crore reversal in provision from doubtful debts. Excluding this reversal, underlying PBT grew by a strong 26% YoY. PBT margin for the quarter stood at 11.4%. Profit After Tax (PAT) came in at Rs. 17 crore, translating to a PAT margin of 8.6%.

The growth during the quarter was primarily driven by higher volumes from both our own manufacturing facilities and franchise partners. Volume growth from owned facilities stood at 12% YoY, while franchise-led volumes grew by 5% during Q4 FY25. Average Selling Prices for TMT Bars remained slightly soft, witnessing a marginal YoY decline. Despite this, we continue to hold a dominant 20% market share in the organized retail Branded TMT Bar segment a testament to the strong consumer trust our brand has built over the years. Our focus on delivering high-quality products at affordable prices remains a key differentiator in sustaining this leadership.

We continue to witness strong growth in our franchise-led model, with royalty income reaching a new all-time high of Rs. 139 crore in FY25, a growth of 8% on year-on-year basis. This performance is in line with our strategic focus on capital-efficient growth through an asset-light approach. Our strong financial discipline is reflected in our industry-leading RoCE of 26% and RoE of 19% respectively. Brand sales turnover for the year stood at ₹22,156 crore, registering a 5% YoY increase.

We remain a net debt-free company as of March 2025. Additionally, we continue to operate with a lean working capital model, with our cash conversion cycle further improving to just 15 days a 4-day reduction over the previous year driven by improved receivables collection efficiency.

Demand for TMT steel bars in India is expected to remain strong, supported by the government's continued emphasis on infrastructure development, including housing, roads, and urban renewal projects. Increased public spending under initiatives like PM Gati Shakti and Smart Cities Mission is set to drive sustained consumption of TMT Steel Bars in the years to come.”

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About Kamdhenu Limited

Kamdhenu Limited was founded in 1994 with a vision to provide Best Quality TMT Bars at Best Price. Today, led by Mr. Satish Kumar Agarwal, the company is the market leader in branded TMT Bars and ‘Kamdhenu TMT Bar’ is the largest selling TMT Bar in India, in the retail segment with brand sales turnover of ~Rs. 22,000 crores in FY25. Kamdhenu follows franchisee business model to bring more transparency and dynamism to the operations of the company. Kamdhenu has committed chain of over 8,500 dealers and distributors in India. Kamdhenu being TMT expert has also launched Kamdhenu PAS10000 Steel for highly seismic zones and Kamdhenu Nxt TMT Bar, next generation interlock steel which is also earthquake resistant. It has been conferred with URS – Asia One Awards 2022-23, Icon of Trust – The Extraordinaire Brand 2020-22 India Power Brand 2016 & 2019-20, Asia’s Most Promising Brand – 2016, World’s Best Brand 2015 and 2017-18 among Asia & GCC. Kamdhenu Ltd. a ISO 9001:2015 and ‘Great Place to Work’ certified company, is listed on NSE & BSE.

For further information, please contact

Company : Kamdhenu Limited

CIN: L27101HR1994PLC092205

Mr. Harish Kumar Agarwal - hkagarwal@kamdhenulimited.com

Investor Relations : Strategic Growth Advisors

CIN: U74140MH2010PTC204285

Mr. Deven Dhruva – deven.dhruva@sgapl.net / +91 98333 73300

Mr. Varun Shivram – varun.shivram@sgapl.net / +91 91378 91895

Public Relations : Fortuna Public Relations

Mr. Vikash Mahajan - +91 99536 19912

Safe Harbor

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forwardlooking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.

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