About Kamdhenu Limited

Kamdhenu Limited is India’s largest branded TMT bar company in the retail segment, anchored by an asset-light franchise model and a nationwide sales network. Incorporated on September 12, 1994, the Company began as Kamdhenu Ispat Limited and was renamed Kamdhenu Limited in 2016 to reflect its brand-first focus in steel products and marketing.

The Company manufactures, distributes, markets, and brands a wide range of steel products, supported by a “Mother Steel Plant” in Bhiwadi that serves as the hub for innovation, training, and quality assurance across its franchise ecosystem.

Product Portfolio

Kamdhenu’s product portfolio features high-recognition brands designed for India’s construction and infrastructure needs:

• Kamdhenu NXT TMT rebars – featuring an angular double-rib design for superior bond strength and seismic performance.
• Kamdhenu PAS 10000 – an earthquake-resistant alloy steel with 360° locking and fire resistance.
• Structural steel sections, colour-coated roofing and cladding sheets (Colour Max), and galvanised corrugated sheets (Shresth GC).

Pan-India Presence

Kamdhenu has a nationwide presence through 10,000+ dealers, 400+ distributors, and 80+ franchise units, complemented by an in-house TMT production capacity of 1,20,000 MT per annum.

Across its extended franchise ecosystem, the Company reports a total annual steel production capacity of 52.5 Lakh MT.

A brand-led approach has driven consistent growth — during FY 2024–25, Kamdhenu achieved approximately Rs 22,000 crore in brand sales turnover, maintaining a 14% CAGR over the last decade and reinforcing its retail leadership in branded TMT bars.

Key Milestones

• 1994: Incorporated.
• 1995: Commenced steel bar production; achieved ISO 9001 and BIS 1786 certifications.
• 2004: Introduced the Franchise Business Association Model.
• 2006: Completed IPO and listed on NSE and BSE.
• 2017: Launched Kamdhenu NXT–TMT Interlock Steel.
• 2019: Expanded capacity; became India’s largest TMT brand in retail.
• 2022–2023: Completed demerger and listing of the paint business.
• 2024–2025: Certified as a Great Place to Work for two consecutive years; expanded dealer network beyond 10,000.

Subsidiaries and Structure

As on March 31, 2025, Kamdhenu Limited had 1 subsidiary. The Company reported no joint ventures or associate companies as of that date.

Business Segments

• Manufacturing: 81.16% of turnover.
• Royalty from branding (franchise-based): 18.61% of turnover.
• Exports: NIL.

Key Management

• Mr. Satish Kumar Agarwal – Chairman & Managing Director
• Mr. Sunil Kumar Agarwal – Whole-Time Director
• Mr. Harish Kumar Agarwal – Chief Financial Officer
• Mr. Khem Chand – Company Secretary & Compliance Officer

Latest Updates on Kamdhenu Limited

• Network and recognition: The dealer network surpassed 10,000, and the Company was certified as a Great Place to Work for the second consecutive year, underscoring its people-first culture and strong brand momentum.
• Facility enhancement: The Bhiwadi Mother Steel Plant is being realigned as a centre of innovation and training, developing new steel grades, improving durability and safety, and standardising quality across franchise units.
• Franchise capacity plan: Kamdhenu plans to enhance capacity across its franchise units by 20%, with about 12% of the new capacity expected to become operational in FY 2025–26, enabling further volume growth and market reach.
• Share capital actions: During FY 2024–25, the Company allotted 8,02,800 equity shares of Rs 10 each at an issue price of Rs 353 per share upon conversion of warrants. After the share split, it allotted 40,00,000 equity shares of Re. 1 each at Rs 35.30 per share upon conversion of 4,00,000 warrants, with the remaining 75% consideration received from allottees.
• Share split: The Board approved a sub-division of equity shares in the ratio of 1:10 on November 11, 2024, which was approved by shareholders on December 11, 2024. The record date was January 8, 2025. As on March 31, 2025, the paid-up capital stood at Rs 27,73,83,000 (27,73,83,000 equity shares of Re. 1 each).

Brand leadership: Kamdhenu reaffirmed its position as India’s largest TMT selling brand in the retail segment, operating through over 80 franchise units and a widespread dealer base spanning both urban and rural markets.