Kamdhenu Paints, a brand of Kamdhenu Colour and Coatings Limited and a wholly owned subsidiary of Kamdhenu Ventures Limited, has declared audited financial results for the quarter and full year ended 31 March 2026. Management said the period was marked by elevated crude oil prices, geopolitical disruptions and appreciation of the US dollar, which drove sharp inflation across solvents, binders, monomers and other derivatives and increased fuel and labour costs. Shortages of certain raw materials were reported to have further affected production and profitability.

For the year, revenue from operations stood at Rs 2,453 million (mn), a decline of eight per cent year on year. EBITDA for the year was Rs 95 mn and the EBITDA margin was three point nine per cent, representing a contraction of 240 basis points compared with the prior year. Profit after tax for the year was Rs two mn, down from Rs 67 mn in the previous year, a fall of 97 per cent. In the fourth quarter the company recorded an average selling price of Rs 97, reflecting a higher realisation from product mix.

The company said it plans calibrated price increases of five to six per cent over the coming quarters alongside product premiumisation and greater focus on value added offerings to support margin recovery. During the quarter the company raised Rs 50.4 mn through preferential allotment relating to 29.6 mn convertible warrants and received Rs 74.7 mn on conversion of 14.6 mn warrants, while 15 mn warrants remained outstanding with Rs 25.5 mn already received against them. Management indicated that enhanced liquidity will improve procurement negotiations, inventory planning and reduce operational disruption from raw material availability.

Operations will continue to focus on deeper dealer engagement, operational efficiencies and distribution stability as the company accelerates market expansion and dealer penetration in high growth regions. Kamdhenu said its products are widely available across India, with more than 40 SKUs, 31 sales depots and a dealer network of around 4,440. While near term conditions warrant caution, management expressed confidence in the long term fundamentals of the sector and said strategic pricing, product development and capital allocation measures position the business to benefit when the market recovers.