Kamdhenu Paints, a leading player in India’s decorative paints segment and a wholly owned subsidiary of Kamdhenu Ventures Limited through KamdhenuColour and Coatings Limited, has announced its audited financial results for the quarter and financial year ended March 31, 2026. The company reported that FY26 was marked by a challenging operating environment driven by elevated crude oil prices, geopolitical uncertainties, currency fluctuations, and inflationary pressures across key raw materials.
Rising input costs in solvents, binders, monomers, and related derivatives, coupled with higher fuel and labour expenses, impacted margins across the industry. Shortages of select raw materials also affected production efficiency during the year. For FY26, Kamdhenu Paints recorded revenue from operations of ₹245 crore, reflecting an 8 percent decline compared to the previous financial year. EBITDA for the year stood at ₹9.5 crore, while EBITDA margins came in at 3.9 percent, representing a contraction of approximately 240 basis points year-on-year.
Commenting on the company’s performance, Managing Director Saurabh Agarwal said the company remained focused on navigating near-term industry challenges through strategic pricing actions, product premiumization, and operational improvements. He stated that the company plans to implement calibrated price increases of 5 to 6 percent over the coming quarters while continuing to strengthen its portfolio of value-added and premium products. Kamdhenu Paints also recorded its highest-ever average selling price of ₹97 during the fourth quarter of FY26, supported by improved product mix realization.
The company further emphasized its focus on strengthening dealer relationships, improving operational efficiencies, and maintaining distribution stability to support future growth as market conditions gradually improve. During the quarter, the company raised ₹5.04 crore through the preferential allotment of 2.96 crore convertible warrants to Kamdhenu Limited. In addition, 1.46 crore warrants were converted into equity shares, generating an additional ₹7.47 crore, with allotment completed on March 30, 2026. The remaining 1.50 crore warrants are eligible for conversion within the prescribed 18-month period, against which the company has already received ₹2.55 crore.
According to the company, the enhanced liquidity position is expected to improve procurement planning, strengthen inventory management, and reduce disruptions related to raw material availability. A portion of the funds is also being directed toward market expansion initiatives, dealer network enhancement, and strengthening distribution in high-growth regions.
Established in 2008, Kamdhenu Paints offers a broad portfolio of decorative paints and construction solutions, including interior and exterior emulsions, primers, wood finishes, textured coatings, designer paints, and construction chemicals. The company currently operates through 31 sales depots and a dealer network of more than 4,440 dealers across India.
