Kamdhenu Reports Highest-Ever Profitability in H1 FY26
Steel

Kamdhenu Reports Highest-Ever Profitability in H1 FY26

Kamdhenu, India’s largest manufacturer and seller of branded TMT Bars in the retail segment, announced its unaudited financial results for the quarter and half year ended 30 September 2025. The company delivered its strongest profitability to date, driven by higher royalty income and continued cost optimization.

During Q2 FY26, Kamdhenu reported revenue from operations of Rs 1.91 billion, a marginal increase from Rs 1.90 billion in Q2 FY25, while profit before tax rose 23 per cent to Rs 250.7 million. The PBT margin improved to 13.5 per cent, compared to 11.0 per cent in the same period last year, and profit after tax increased to Rs 180.7 million from Rs 150.9 million. For H1 FY26, revenue grew 3 per cent year-on-year to Rs 3.86 billion, and profit before tax increased 33 per cent to Rs 540.3 million. The company delivered a PBT margin of 14.0 per cent, up 310 basis points from 10.9% in H1 FY25. Profit after tax for the half year stood at Rs 400.1 million, reflecting a growth of 28 per cent over the previous year.

“Kamdhenu’s H1 FY26 results highlight our ability to deliver resilient profitability despite a dynamic steel environment. Revenue grew 3 per cent year-on-year to Rs 3.87 billion, while PBT rose 33 per cent to Rs 540 million. Our PBT margin expanded by 310 basis points to 14.0 per cent in H1 FY26, reflecting strong operating discipline. PAT increased 28 per cent to Rs 400 million.

Royalty income recorded robust 27 per cent growth to Rs 860 million, supported by a one-time royalty receipt. This underscores the strength of our asset-light franchise model and increasing brand penetration, enabling scalable and capital-efficient growth.

Revenue from own facilities stood at Rs 3.01 billion with sales volumes of ~61,400 MT, while franchise volumes increased 8 per cent YoY to 18 lakh MT.

Unseasonal weather and prolonged rainfall affected operations in key markets during the quarter, temporarily impacting volumes and realizations. Softer steel prices also weighed on average selling prices. However, these are short-term effects, and we expect normalcy to return as conditions stabilize.

The broader demand environment remains strong, with TMT bars continuing to benefit from sustained infrastructure spending and robust construction activity. With a trusted brand, an extensive franchise network, and pan-India distribution strength, Kamdhenu is well positioned to capitalize on growth opportunities and deliver long-term value.”

Kamdhenu, India’s largest manufacturer and seller of branded TMT Bars in the retail segment, announced its unaudited financial results for the quarter and half year ended 30 September 2025. The company delivered its strongest profitability to date, driven by higher royalty income and continued cost optimization.During Q2 FY26, Kamdhenu reported revenue from operations of Rs 1.91 billion, a marginal increase from Rs 1.90 billion in Q2 FY25, while profit before tax rose 23 per cent to Rs 250.7 million. The PBT margin improved to 13.5 per cent, compared to 11.0 per cent in the same period last year, and profit after tax increased to Rs 180.7 million from Rs 150.9 million. For H1 FY26, revenue grew 3 per cent year-on-year to Rs 3.86 billion, and profit before tax increased 33 per cent to Rs 540.3 million. The company delivered a PBT margin of 14.0 per cent, up 310 basis points from 10.9% in H1 FY25. Profit after tax for the half year stood at Rs 400.1 million, reflecting a growth of 28 per cent over the previous year.“Kamdhenu’s H1 FY26 results highlight our ability to deliver resilient profitability despite a dynamic steel environment. Revenue grew 3 per cent year-on-year to Rs 3.87 billion, while PBT rose 33 per cent to Rs 540 million. Our PBT margin expanded by 310 basis points to 14.0 per cent in H1 FY26, reflecting strong operating discipline. PAT increased 28 per cent to Rs 400 million.Royalty income recorded robust 27 per cent growth to Rs 860 million, supported by a one-time royalty receipt. This underscores the strength of our asset-light franchise model and increasing brand penetration, enabling scalable and capital-efficient growth.Revenue from own facilities stood at Rs 3.01 billion with sales volumes of ~61,400 MT, while franchise volumes increased 8 per cent YoY to 18 lakh MT.Unseasonal weather and prolonged rainfall affected operations in key markets during the quarter, temporarily impacting volumes and realizations. Softer steel prices also weighed on average selling prices. However, these are short-term effects, and we expect normalcy to return as conditions stabilize.The broader demand environment remains strong, with TMT bars continuing to benefit from sustained infrastructure spending and robust construction activity. With a trusted brand, an extensive franchise network, and pan-India distribution strength, Kamdhenu is well positioned to capitalize on growth opportunities and deliver long-term value.”

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