Kama Holdings Limited (KAMAHOLD)

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Kama Holdings Limited (KAMAHOLD) · mywealthgrid

About

Kama Holdings is a holding company in Financials sector with ₹7,862.9 Cr market cap. Operating margin of 97.68% is exceptional, but ROE of 7.13% is low; quarterly revenues swing sharply (₹18+ to ₹0.36 Cr). Stock down 19.13% over the past year.

Face value: ₹10

Market cap

₹7,264 Cr

P/E

192.6×

P/B

8.6×

Dividend yield

2.8%

ROE

7.1%

ROCE

—

Debt / equity

—

OPM

97.7%

EPS (TTM)

₹11.8

Book value

₹264.5

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

PE multiple of 208.45 is extremely elevated; verify whether earnings are weak or valuation assumptions unrealistic.
Quarterly revenue swings dramatically (₹18.4 Cr to ₹0.36 Cr) in alternating pattern; understand source and assess predictability.
ROE of 7.13% versus 97.68% OPM indicates capital not generating adequate returns; verify whether structural or addressable.
Institutional participation minimal (FII 0.24%, DII 0.03%), constraining liquidity for stock at elevated PE.

Generated analysis · source review pending

Growth drivers

Underlying portfolio performance: Quarterly revenues ₹18+ and ₹0.36 Cr likely reflect dividend cycles; growth requires improved underlying investment returns (verify portfolio composition and performance).
Operating margin sustainability: At 97.68% OPM, revenue growth translates nearly entirely to profit; scaling depends on whether cost structure repeats (verify scalability).
Capital deployment: ROE of 7.13% on ₹7,862.9 Cr equity indicates capital earning below potential; redeploying toward higher returns would expand earnings significantly (verify management strategy).

Generated analysis · source review pending

2,320 historical price candles were omitted because the exchange source has not been verified.

₹2,263.0+1%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 97.7%
+Dividend yield of 2.8%
+High promoter holding of 75% with no pledge

Cons

−Low return on equity of 7.1% (3-yr avg)
−Expensive at 192.6× trailing earnings
−Trading at 8.6× book value

Research score

Structured signal from quality, growth, valuation and momentum.

28/100

Business quality: 54
Growth: 19
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Bajaj Holdings & Investment LimitedBAJAJHLDNGBAJAJHLDNG	₹1,18,713 Cr	₹1,18,713 Cr	₹1,139 Cr	₹965 Cr	84.8%	₹8,993 Cr	915.2%	—	14.2%	—
Choice International LimitedCHOICEINCHOICEIN	₹16,028 Cr	₹16,912 Cr	₹1,194 Cr	₹421 Cr	35.8%	₹251 Cr	21.3%	21.9%	16.1%	117
Edelweiss Financial Services LimitedEDELWEISSEDELWEISS	₹13,052 Cr	₹31,557 Cr	₹10,517 Cr	₹2,903 Cr	29.7%	₹602 Cr	6.5%	—	12.1%	—
Jm Financial LimitedJMFINANCILJMFINANCIL	₹11,809 Cr	₹23,331 Cr	₹4,180 Cr	₹2,360 Cr	61.4%	₹1,040 Cr	29.4%	—	11.8%	—
Kama Holdings LimitedKAMAHOLDKAMAHOLD	₹7,264 Cr	—	₹38 Cr	₹37 Cr	97.7%	₹38 Cr	100.6%	—	7.1%	—
Rane Holdings LimitedRANEHOLDINRANEHOLDIN	₹2,172 Cr	₹3,053 Cr	₹6,129 Cr	₹442 Cr	7.4%	₹84 Cr	2.3%	14.8%	8.7%	49
Bf Investment LimitedBFINVESTBFINVEST	₹1,616 Cr	₹1,616 Cr	₹78 Cr	₹66 Cr	83.9%	₹390 Cr	369.5%	—	3.7%	—
Balmer Lawrie Investments LimitedBLILBLIL	₹1,443 Cr	—	₹124 Cr	—	—	₹31 Cr	25%	—	16.7%	—
Abans Financial Services LimitedAFSLAFSL	₹1,021 Cr	₹1,765 Cr	₹25,747 Cr	₹206 Cr	0.7%	₹128 Cr	0.4%	12.2%	8.3%	-0
Max India LimitedMAXINDMAXIND	₹856 Cr	₹858 Cr	₹214 Cr	₹-112 Cr	-55.6%	₹-132 Cr	-63.9%	-22.2%	-31.8%	-59
Gfl LimitedGFLLIMITEDGFLLIMITED	₹607 Cr	₹607 Cr	₹4 Cr	₹2 Cr	47.6%	₹61 Cr	—	—	1.8%	—
Nisus Finance Services Co LtdNISUSNISUS	₹384 Cr	—	₹561 Cr	₹139 Cr	24.7%	₹70 Cr	12.5%	—	—	—

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019
Revenue	—	—	—	38
Interest	—	—	—	—
Expenses	1	1	1	1
Financing profit	—	—	—	—
Financing margin %	—	—	—	—
Other income	0	—	—	—
Depreciation	—	—	—	—
Profit before tax	30	35	36	37
Tax	—	—	—	-1
Tax %	—	—	—	-2%
PAT	30	35	36	38
EPS (₹)	44.1	53.4	55.3	56.9
EPS adjusted (₹)	—	—	—	11.7
	34%	28.1%	27.1%	26.4%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2025	Mar 2026
Equity capital	6	6	6	6	6	32	32
Reserves	522	570	571	571	651	818	817
Borrowings	14	13	14	14	0	—	—
	0	1	71	73	2	61	78
Total equity & liabilities	543	591	662	664	659	911	927
	0	0	0	0	0	0	0
CWIP	—	—	—	—	—	—	—
Investments	432	432	432	432	431	429	429
	111	159	229	232	228	482	498
Total assets	543	591	662	664	659	911	927

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	37	40	69	103	33	74	139	130
	-27	-20	2	1	77	206	-198	3
Cash from financing	-10	-20	1	-103	-182	-114	-108	-133
Net cash flow	0	0	71	1	-72	167	-167	-0
Free cash flow	—	—	—	—	33	74	139	130
CFO / Operating profit %	100.9%	—	—	—	—	—	—	—

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2016	Mar 2017	Mar 2018	Mar 2019
Margins
Gross margin %	—	—	—	—
EBITDA margin %	—	—	—	97.7%
EBIT margin %	—	—	—	97.7%
PAT margin %	—	—	—	100.6%
Working capital
Receivable days	—	—	—	—
Inventory days	—	—	—	—
Payable days	—	—	—	—
NWC days	—	—	—	—
Leverage
Current ratio	—	—	—	—
Debt to EBITDA	—	—	—	0.38
Debt to equity	—	—	—	0.03
Interest coverage	—	—	—	—
Asset turnover	—	—	—	0.07
Return ratios
Return on assets %	—	—	—	6.9%
Return on capital employed %	—	—	—	—
Return on equity %	—	—	—	7.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	75.05%	75%	75%	75%	75%	75%	75%	75%	75%	75%	75%	75%
	0.1%	0.22%	0.31%	0.16%	0.21%	0.22%	0.28%	0.29%	0.29%	0.29%	0.24%	0.24%
	0.01%	0%	0%	0%	0%	0.03%	0.03%	0.04%	0.05%	0.03%	0.03%	0.03%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	24.84%	24.78%	24.69%	24.84%	24.79%	24.75%	24.69%	24.67%	24.66%	24.68%	24.73%	24.73%
No. of shareholders	—	—	—	—	—	—	—	—	14,610	14,209	14,106	13,888

Promoter holding down 0.05 percentage points since Sep 2023.

Mr. Kartik Bharat RamNon-Executive - Non Independent Director-Chairperson related to Promoter
Mr. Ashish Bharat RamNon-Executive - Non Independent Director
Mrs. Ekta MaheshwariExecutive Director
Mr. Gagan MehtaNon-Executive - Independent Director
Mrs. Shalini GuptaNon-Executive - Independent Director
Mr. Sanjay KapoorNon-Executive - Independent Director

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 1 fund houses

Held by these funds

of the company's equity

All mutual funds

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

1 schemes

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	23	0.01	0.01%	0%	-0

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

17 announcementsExport CSV

30 Sept 2026, 5:04 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

9 Sept 2026, 6:42 pmCompany Update

Announcement under Regulation 30 (LODR)-Acquisition

Acquisition PDF

9 Sept 2026, 6:40 pmCompany Update

Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

General PDF

1 Sept 2026, 4:06 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

1 Sept 2026, 4:04 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

18 Aug 2026, 12:44 pmCompany Update

Tax Deducted At Source (TDS) On Dividend

General PDF

17 Aug 2026, 11:35 amCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

14 Aug 2026, 12:35 pmCorp. Action

Declaration Of Interim Dividend-2026-27

Record Date PDF

Date	Category	Subject	Filing
30 Sept 2026, 5:04 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
9 Sept 2026, 6:42 pm	Company Update Acquisition	Announcement under Regulation 30 (LODR)-Acquisition	PDF

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Kama Holdings Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Ratios

Ratio timeline

Shareholding

Quarterly record

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Quarterly record

Board and management

Not in the F&O segment

Announcements

Annual reports

Dividends22

Board meetings1

Bonus issues1

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded profit growth

Return on equity

22

1

1