Kamdhenu Q4 profit up 56% to Rs 170 mn; company raising Rs 1 bn

08 May 2024 CW Team

Kamdhenu, a steel maker, announced that its net profit had increased by 56 percent to Rs 160.8 million in the March quarter, compared to Rs 100.8 million in the previous year's corresponding period. This rise was attributed to increased income. The total income for the period increased from Rs 1.68 billion to Rs 1.84 billion, as observed from January to March quarter of FY23.

Similarly, the company's total expenses also rose, reaching Rs 1.61 billion, up from Rs 1.53 billion in the same period last year.

The board of directors suggested a final dividend of Rs 2 per equity share with a face value of Rs 10 each for the fiscal year ending on March 31, 2024.

In a separate statement, Kamdhenu CMD, Satish Kumar Agarwal, stated that the company intends to raise Rs 1 billion through the issuance of convertible warrants on a preferential basis over the next 18 months. Currently, they have received Rs 240.27 billion out of this amount.

Agarwal explained, "Through the capital raise, the company intends to re-model the franchisee business by strategically acquiring stakes in certain franchisee units, invest in both existing and new business ventures in India or abroad to diversify, allocate funds for capital expenditure in the existing manufacturing unit, and/or acquire and establish new office premises."

Regarding the sector's outlook, Agarwal expressed optimism, stating that the sector is anticipated to continue witnessing significant growth opportunities due to the government's robust support for infrastructure projects, including initiatives like housing for all.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..