Saint Capital Fund Picks Up Stake In Multibagger Stock Kamdhenu Ventures, Scrip Up 106% YTD

Kamdhenu Ventures Limited (BSE: 543747, NSE: KAMOPAINTS), India's leading brand in Indian Decorative Paints Segment, has declared its Unaudited Financial Results for the quarter ended 30th June 2023. Further, as per bulk deal data available on NSE, Saint Capital Fund picked up 350000 shares of Kamdhenu Ventures Ltd. on 03 August 2023 at an average price of Rs.196.

For the quarter ended 30 June 2023, the company saw growth in its (consolidated) revenues, EBITDA & PAT. Revenues grew by 13% YoY to Rs. 62 crores, and EBITDA stood at Rs.4 crores as compared to -Rs. 1.2 crores in the previous year, and PAT turned positive YoY, and stood at Rs. 2.2 crores for the quarter.

Commenting on the results and performance, Mr. Saurabh Agarwal, Managing Director said:

In Q1 FY24, we have seen a turnaround in the paints business. Revenues grew by 13% YoY to Rs. 62 crores, and EBITDA stood at Rs.4 crores as compared to -Rs. 1.2 crores last year. This is due to a better product mix, reduction in raw material prices and improved efficiencies. Our PAT has also turned positive to Rs. 2.2 crores for the quarter.

The Company has raised funds to the tune of Rs. 65.25 crores. We have utilized the same towards reduction of working capital debt of paints business. This will further help improve the profitability of the Company.

The escalating need for paints in India has resulted in a fiercely competitive market, where companies are employing diverse tactics to expand their market presence. In response to this demand, the Indian paint industry has increasingly focused on eco-friendly and sustainable offerings, witnessing a surge in the demand for premium and superior-quality paints. Moreover, there is a growing inclination towards decorative and textured paints, all of which will play pivotal roles in shaping the future landscape of the Indian Paint Industry. The Paints Industry comprises a wide array of products and is projected to achieve a CAGR of 10% over the next five years, reaching a value of one lakh crores.

Kamdhenu Ventures is committed to sustained growth, poised to leverage prevailing opportunities, and set to outperform the industry in the years ahead. Our target is to achieve revenues of Rs. 1,000 crore by FY28. The Company continues to implement strategic initiatives to strengthen its position as a prominent player in the Paint industry"

Kamdhenu Ventures Ltd. (Kamdhenu Paints), established in 2008, is a leading brand in the Indian decorative paints segment. Kamdhenu Paints is committed to providing a comprehensive range of high-quality paint products that meet the diverse needs of our customers. Its product range includes a wide selection of exterior & interior emulsions, water-based primers, wood finishes, textured & designer paints, and construction chemicals.

By offering such an extensive range of products, it aims to position Kamdhenu as a one-stop-shop for all of its customers' construction needs. The company's products are widely available across India, allowing it to reach and serve customers in every corner of the country. The company offers 40+ SKU's across product categories and has 33 sales depots with a dealer network of ~4000+ The Kamdhenu brand is synonymous with products that uphold the highest standards of quality and ensure complete customer satisfaction. It achieves this through the use of modern automation methods and technology, backed by its robust research and development facilities.