Buildings material maker Kamdhenu Ltd on May 30 reported over 37 percent jump in its consolidated net profit at Rs 5.40 crore for the quarter ended March 2022, boosted by higher income. The company had clocked Rs 3.94 crore net profit in the same period a year ago, it said in a regulatory filing.
Total income increased to Rs 252.66 crore in the quarter under review from Rs 222.43 crore in the fourth quarter of FY21. In the entire 2021-22 fiscal year, net profit too rose to Rs 26.31 crore from Rs 15.07 crore in the preceding financial year.
The company clocked a record turnover of Rs 842.74 crore in FY22 compared to Rs 628.71 crore during 2020-21. The company's board has recommended a final dividend of Rs 1 per share for the financial year 2021-22, which is subject to the approval of shareholders at the ensuing annual general meeting.
In a separate statement, the company's chairman and managing director Satish Kumar Agarwal said that despite the challenging environment, the company managed to end the fiscal on a positive note. "In steel segment, we have clocked a revenue growth of 42 per cent y-o-y to Rs 599 crore in FY22. Demand for our steel products were strong during the year on account of increased construction activities. We are focused on increasing our TMT steel capacity through franchise route," he said.
The company's paints business has reported revenue growth of 19 percent to Rs 241 crore in FY22, Agarwal said, adding that the demand momentum to sustain with consumers shortening their repainting cycles and refurbishing their homes. According to the company, "The brand turnover from steel business stood at Rs 16,072 crore in FY22 and royalty income was at Rs 92 crore."