Kamdhenu Ltd Sees Profit Surge Amid Strategic Share Split

Kamdhenu Ltd reported a 57% rise in profit to Rs 16 crore for Q3 2024, fueled by increased income despite lower TMT bar prices. The company also announced a 1:10 stock split to boost equity liquidity and attract small investors, while projecting growth in the TMT market.

Kamdhenu Ltd, a prominent player in the TMT sector, announced a significant 57% rise in profit after tax to Rs 16 crore for the September 2024 quarter, citing higher income as a primary driver.

The company's income rose to Rs 196.17 crore from the previous Rs 186.59 crore year-on-year, despite facing a drop in average selling prices for TMT bars. The company's own facility reported revenue growth attributed to a rise in sales volume.

In strategic financial restructuring, the board approved a stock split to subdivide equity shares in a 1:10 ratio, aiming to enhance share liquidity and make them more affordable for small investors. With a 20% market share in organized retail TMT, Kamdhenu is optimistic about its future market presence.

(With inputs from agencies.)