May, Gurugram Kamdhenu Limited, India’s largest manufacturer and seller of branded TMT Bars, in the retail segment, has declared its Audited Financial Results for the Quarter & year ended 31st March 2023

Commenting­­­­­­­ on the results and performance, Mr. Satish Kumar Agarwal, Chairman & Managing Director said:

We have delivered a strong performance in FY23. Revenues grew by, 22% YoY to Rs. 732 crores, EBITDA grew by 10% YoY to Rs.60 crores, and PAT growth of 4% YoY to Rs. 41 crores for FY23. Our total Brand Sales Turnover has increased by 32% YoY to over Rs. 21,000 crores with franchisee volumes growing 21% YoY. Revenue from Royalty income has gone up by 25% to Rs.114 crores for FY23.

For Q4 FY23, our franchisee volumes have grown by 17%. Revenue is showing a decline due to the reduction in trading activity and steel prices. Revenue from Royalty income has gone up by 25% to Rs.30.3 crores.

Steel prices are set to stabilize in the coming year. The domestic steel demand growth continues to remain healthy, driven by renewed thrust on infrastructure development and pick-up in real estate and construction activities.

India is looking to modernize, expand and accommodate the aspirations of a growing population through urbanization and industrialization. Thus, TMT bar consumption growth is expected to rise on account of government expenditure on infrastructure and manufacturing in the long run.

We command a dominant market share in the organized retail segment of the steel industry. With our strong brand, marketing, and distribution network, and unique asset-light model, we are well placed to capture any opportunities in the future.”