The shares of one of the leading paint companies gained up to 4 percent after the company’s net profit and revenue increased by 225 percent and 14 percent YoY, respectively in the third quarter.
With a market capitalization of Rs 1,387.88 crore, the shares of Kamdhenu Ventures Ltd were trading at Rs 220.75 per share, increasing around 4.84 percent as compared to the previous closing price of Rs 210.55 apiece.
Looking into the company’s Performance, Kamdhenu Ventures Ltd’s revenue increased by 20 percent on a quarter-on-quarter basis from Rs.65.82 crores in Q2FY24 to Rs. 79.07 crores in Q3 FY24. Further, revenue increased by 14 percent year on year from Rs. 69.59 crore in Q3FY23 to Rs. 79.07 crore in Q3FY24.
Kamdhenu Ventures Ltd’s net profit increased by 18 percent on a quarter-on-quarter basis from Rs.3.43 crore in Q2FY24 to Rs. 4.07 crore in Q3FY24. Further, net profit increased by 225 percent yearly from a loss of Rs 3.26 crore in Q3FY23 to a profit of Rs. 4.07 crore in Q3FY24.
The firm achieved a 43 percent share of premium items and a dealer count of over 4,000 with a renewed focus on premium products, creative initiatives including designer galleries, rewards systems, and a revised branding and advertising campaign.
With over 1,300 active tinting machines placed at dealer outlets, the firm can create a variety of hues by blending colorant from a computerized tinting machine with paint bases. This reduces inventory and ensures the correct paint supply.
The corporation has a 43 percent market share in the premium goods category. Furthermore, a significant amount of its income (34 percent) came from the eastern area. Similarly, 36% of its dealers are in the eastern area.
Kamdhenu Ventures Limited (Kamdhenu Paints) is an India-based firm that produces ornamental paints. The Company is engaged in the trade of thermal mechanically treated (TMT) bars, structural steel, and the production of painted goods.
Written by:- Abhishek Singh
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