Kamdhenu Ventures posts net loss of Rs 2.48 crore in Q4 FY23, Real Estate News, ET RealEstate

June 23, 2023

NEW DELHI: Kamdhenu Ventures has reported net consolidated loss after tax of Rs 2.48 crore during the quarter ended March 31, 2023. It had recorded loss after tax of Rs 3.25 crore in Q3 FY23, the company said in a BSE filing

The company’s net consolidated total income stood at Rs 70.97 crore in Q4 FY23, a minor quarter-on-quarter growth of 1.84 per cent from Rs 69.69 crore it registered in Q3 FY23.

The company got listing approval from BSE and National stock Exchange of India on January 20, 2023 and 2,69,35,500 equity shares of Rs 5 each allotted pursuant to scheme of arrangement got listed on January 24, 2023 at both the stock exchanges i.e BSE and National Stock Exchange of India.

It holds 30,400 equity shares of Kamdhenu Colour and Coatings (KCCL) at a face value of Rs 10 each aggregating to Rs 3.04 lakhs, accordingly KCCL is a wholly-owned subsidiary of the company. The consolidated financial results of the company have been prepared after incorporating financial results of KCCL. Since the paint business of the Kamdhenu got transferred to subsidiary company effective 1 April 2022, the consolidated figures for the quarter/ year ended March 31, 2022 are not comparable with current quarter and year ended March 31, 2023.

Subsequent to March 31, 2023, the company has raised funds to the tune of Rs 65.25 crore by issuing 45,00,000 equity shares to qualified institutional buyers (QIBs) at the rate of Rs 145 per share. Out of said proceeds, an amount of Rs 4 crore has been utilised for redemption of 9% non-cumulative compulsorily redemption preference shares and remaining amount is lying in the bank account to be used for the purpose for which it was raised.

  • Published On May 18, 2023 at 05:00 PM IST

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