Kamdhenu Limited (KAMDHENU) AI Stock Analysis

Kamdhenu Limited

(NSE:KAMDHENU)

Select Model

Rating:78Outperform

Price Target:INR 40.00▲(14.65% Upside)

Action:reiterated

Date:09/19/26

The score is driven primarily by strong financial performance—re-accelerating growth, improving profitability, and a very low-leverage balance sheet with solid ROE. Technicals are constructive (trend and MACD positive) but tempered by overbought signals, while valuation is fair with a modest dividend yield.

Positive Factors

Revenue and Profit Re-accelerationThe sharp FY2026 revenue rebound, together with materially higher operating and net margins, indicates stronger recent business momentum. If sustained, improved profitability can support reinvestment, strengthen the branded product platform, and raise earnings capacity over the next several quarters.

Negative Factors

Gross Margin VolatilityThe decline in gross margin despite strong revenue growth shows that operating performance remains exposed to steel-sector input-cost and pricing movements. Continued volatility could limit the durability of recent margin expansion and make earnings less predictable across the business cycle.

Kamdhenu Limited (KAMDHENU) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 9.89B
Dividend Yield: 1.15%
Average Volume (3M): 61.81K
Price to Earnings (P/E): 11.5
Beta (1Y): 1.55
Revenue Growth: 2.93%
EPS Growth: 26.60%
Country: India
Employees: 618
Sector: General
Sector Strength: 55
Industry: Steel

Kamdhenu Limited Business Overview & Revenue Model

Company Description

Kamdhenu Limited is an Indian enterprise involved in the manufacturing, distribution, and sale of a variety of steel and paint products, all marketed under its well-known Kamdhenu brand. The company's business activities are categorized into two prim...

Kamdhenu Limited Financial Statement Overview

Summary

Strong FY2026 rebound with ~49% YoY revenue growth and meaningful margin expansion (operating ~12.4%, net ~10.3%). Balance sheet is a major strength with very low recent leverage and consistently strong ROE (~19–25%). Cash flow quality is generally good (OCF exceeding earnings in FY2024–FY2026) but remains somewhat volatile across the cycle.

Income Statement

82Very Positive

Balance Sheet

90Very Positive

Cash Flow

78Positive

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	7.81B	7.63B	7.47B	7.25B	7.32B	6.00B
Gross Profit	2.29B	1.93B	2.25B	1.24B	1.06B	1.54B
EBITDA	1.14B	1.12B	858.72M	724.08M	615.67M	577.12M
Net Income	856.17M	783.53M	608.67M	501.33M	410.24M	267.55M
Balance Sheet
Total Assets	0	4.50B	3.68B	2.84B	2.09B	4.42B
Cash, Cash Equivalents and Short-Term Investments	2.58B	2.58B	2.06B	1.33B	215.88M	235.40M
Total Debt	0	94.15M	12.34M	27.02M	37.44M	936.98M
Total Liabilities	-3.96B	531.83M	520.79M	466.78M	418.23M	2.24B
Stockholders Equity	3.96B	3.96B	3.16B	2.37B	1.67B	2.18B
Cash Flow
Free Cash Flow	125.70M	641.50M	555.97M	992.16M	614.00M	234.56M
Operating Cash Flow	140.66M	756.58M	688.68M	1.02B	667.58M	351.99M
Investing Cash Flow	-436.53M	-860.47M	-878.74M	-923.50M	-40.30M	-140.31M
Financing Cash Flow	107.76M	30.50M	140.34M	184.50M	-545.21M	-199.85M

Kamdhenu Limited Technical Analysis

Technical Analysis SentimentNeutral

Last Price34.89

Price Trends

50DMA37.18Negative

100DMA34.58Positive

200DMA28.46Positive

Market Momentum

MACD-0.97Positive

RSI42.53Neutral

STOCH34.74Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KAMDHENU, the sentiment is Neutral. The current price of 34.89 is below the 20-day moving average (MA) of 36.12, below the 50-day MA of 37.18, and above the 200-day MA of 28.46, indicating a neutral trend. The MACD of -0.97 indicates Positive momentum. The RSI at 42.53 is Neutral, neither overbought nor oversold. The STOCH value of 34.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:KAMDHENU.

Kamdhenu Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:KAMDHENU against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:KAMDHENU	78Outperform	INR 9.83B	11.49	―	1.15%	2.93%	26.60%
IN:VENUSPIPES	78Outperform	INR 37.32B	35.91	―	0.08%	21.73%	13.47%
IN:RATNAMANI	71Outperform	INR 162.60B	37.55	―	0.43%	-16.30%	-24.14%
IN:SCODATUBES	63Neutral	INR 6.27B	16.83	―	―	―	―
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:VSTL	44Neutral	INR 1.83B	24.11	―	―	20.90%	-36.24%
IN:RAMASTEEL	37Underperform	INR 6.17B	44.91	―	―	-1.84%	-43.02%

* General Sector Average

Performance Comparison

IN:KAMDHENU and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:KAMDHENU	Kamdhenu Limited	34.89	7.42	27.02%
IN:RAMASTEEL	Rama Steel Tubes Ltd.	3.77	-6.36	-62.78%
IN:RATNAMANI	Ratnamani Metals & Tubes Ltd.	2319.85	-150.56	-6.09%
IN:VENUSPIPES	Venus Pipes & Tubes Ltd.	1801.45	533.54	42.08%
IN:VSTL	Vibhor Steel Tubes Ltd.	96.50	-46.80	-32.66%
IN:SCODATUBES	Scoda Tubes Ltd.	104.65	-55.40	-34.61%

Kamdhenu Limited Corporate Events

Kamdhenu Publishes Q2 FY27 Unaudited Results in Leading Dailies

Oct 29, 2026

Kamdhenu Limited has notified the stock exchanges that it has published newspaper advertisements containing its unaudited financial results for the second quarter and half year ended 30 September 2026. The disclosures, carried in leading English and...

Kamdhenu Limited Files October 2026 Investor Presentation with Exchanges

Oct 28, 2026

Kamdhenu Limited has released its October 2026 investor presentation to the stock exchanges, in compliance with Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements. By formally submitting this presentation to NSE and BSE, th...

Kamdhenu Files SEBI Demat Compliance Certificate for September Quarter

Oct 9, 2026

Kamdhenu Limited has submitted a compliance certificate to the NSE and BSE confirming adherence to Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30 September 2026. The filing underscores the comp...

Kamdhenu Reports Nil Physical Share Transfer Requests Under SEBI Special Window

Oct 6, 2026

Kamdhenu Limited has notified the stock exchanges that its registrar and transfer agent, KFin Technologies Limited, has submitted a report on transfer-cum-dematerialisation requests for physical shares re-lodged under a special window mandated by a S...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Sep 19, 2026

Kamdhenu Limited AI Stock Analysis