Karma Energy Limited (KARMAENG)

About

Karma Energy Limited operates in Power Generation within the Utilities sector.

Face value: ₹10

Market cap

₹42 Cr

P/E

—

P/B

1.1×

Dividend yield

0%

ROE

4%

ROCE

3.8%

Debt / equity

0.03

OPM

9.9%

EPS (TTM)

₹-1.4

Book value

₹34.6

52-week high

—

52-week low

—

2,512 historical price candles were omitted because the exchange source has not been verified.

₹36.3-4.1%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 11.4×
+High promoter holding of 74.7% with no pledge

Cons

−Low return on equity of 7.1% (3-yr avg)
−Revenue shrank over the last 5 years (-27% a year)

Research score

Structured signal from quality, growth, valuation and momentum.

46/100

Business quality: 38
Growth: 0
Valuation: 99

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
Jsw Energy LimitedJSWENERGYJSWENERGY	₹88,925 Cr	₹1,64,771 Cr	₹18,965 Cr	₹10,149 Cr	53.3%	₹1,967 Cr	14.6%	8.6%	7.7%	28
Ntpc Green Energy LimitedNTPCGREENNTPCGREEN	₹76,755 Cr	₹1,06,013 Cr	₹3,285 Cr	₹2,860 Cr	86.6%	₹607 Cr	18.2%	3.3%	2.8%	-32
Nhpc LimitedNHPCNHPC	₹72,073 Cr	₹1,24,207 Cr	₹12,210 Cr	₹5,787 Cr	45.1%	₹3,797 Cr	36.3%	4.4%	9.3%	77
Nlc India LimitedNLCINDIANLCINDIA	₹35,109 Cr	₹62,911 Cr	₹18,381 Cr	₹6,125 Cr	32%	₹3,367 Cr	21.6%	8.2%	17.5%	171
Acme Solar Holdings LimitedACMESOLARACMESOLAR	₹30,577 Cr	₹49,565 Cr	₹2,370 Cr	₹2,058 Cr	88%	₹603 Cr	24.6%	8.5%	10.4%	63
Sjvn LimitedSJVNSJVN	₹22,757 Cr	₹54,860 Cr	₹5,005 Cr	₹3,492 Cr	74%	₹639 Cr	14.2%	5.9%	4.5%	100
Nava LimitedNAVANAVA	₹15,652 Cr	₹17,873 Cr	₹4,310 Cr	₹1,656 Cr	40%	₹756 Cr	24.2%	12.5%	9.6%	178
Juniper Green Energy LimitedJNPRJNPR	₹15,263 Cr	₹28,184 Cr	₹719 Cr	₹606 Cr	84.3%	₹40 Cr	5.6%	—	1.2%	—
Clean Max Enviro Energy Solutions LimitedCLEANMAXCLEANMAX	₹15,234 Cr	₹27,644 Cr	₹1,913 Cr	₹1,132 Cr	59.2%	₹94 Cr	4.5%	6.4%	2.6%	-1,192
Vedanta Power LimitedVEDPOWERVEDPOWER	₹12,814 Cr	₹18,646 Cr	₹5,453 Cr	₹1,040 Cr	19.1%	₹-1,713 Cr	-31.4%	11%	-88.4%	76
Jaiprakash Power Ventures LimitedJPPOWERJPPOWER	₹10,143 Cr	₹13,523 Cr	₹5,756 Cr	₹1,525 Cr	24.6%	₹641 Cr	8.1%	6.9%	3.6%	93
Reliance Power LimitedRPOWERRPOWER	₹8,028 Cr	₹22,840 Cr	₹7,690 Cr	₹2,361 Cr	31%	₹-319 Cr	-4.4%	6.1%	-2.1%	139

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Financials

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

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	42	25	32	13	12	9
COGS	0	0	0	—	—	—
Gross profit	—	25	—	—	—	—
	29	26	23	—	—	—
	13	-1	8	8	2	1
OPM %	31%	-5%	26%	61.8%	16.8%	9.9%
Depreciation	7	6	6	5	3	2
Interest	7	7	5	1	0	0
	1	1	1	5	1	3
Profit before tax	0	-14	-2	7	-0	2
Tax	0	-1	-0	—	—	—
Tax %	6.3%	-7%	-7.4%	—	—	—
	0	-13	-2	6	0	2
PAT margin %	0.4%	-52.5%	-5.1%	46%	1%	17.9%
EPS (₹)	-0.2	-11.5	-1.4	—	—	—
EPS adjusted (₹)	—	-11.5	-1.4	5.1	0.1	1.4
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity capital	12	12	12	12	12
Reserves	-2	19	27	27	28
	86	17	5	0	1
	24	16	12	12	11
Total equity & liabilities	120	63	55	50	52
	80	31	26	23	21
CWIP	0	—	—	—	—
Investments	16	—	—	—	—
	24	—	—	—	—
Total assets	120	63	55	50	52

₹ Cr	Mar 2016	Mar 2017	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-12	9	12	-1	5	4	2
	-10	6	-0	51	9	1	-2
	22	-15	-11	-49	-13	-5	1
Net cash flow	—	—	0	-0	0	-0	0
Free cash flow	—	—	11	-1	—	—	—
CFO / Operating profit %	—	—	—	-18%	62.6%	214%	193%

Compounded sales growth

7 years: —
5 years: -27%
3 years: -35%
1 year: -30%

Compounded profit growth

7 years: —
5 years: 58%
3 years: —
1 year: 1,200%

Return on equity

7 years: —
5 years: -24%
3 years: 7%
Last year: 4%

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Margins
Gross margin %	—	98.7%	—	—	—	—
EBITDA margin %	31%	-5%	26%	61.8%	16.8%	9.9%
EBIT margin %	15.2%	-30%	6.8%	24.1%	-7%	-11.8%
PAT margin %	0.4%	-52.5%	-5.1%	46%	1%	17.9%
Working capital
Receivable days	—	98	—	—	—	—
Inventory days	—	3,011	—	—	—	—
Payable days	—	707	—	—	—	—
NWC days	—	2,403	—	—	—	—
Leverage
Current ratio	—	0.29	2.74	1.42	2.33	3.69
Debt to EBITDA	—	—	2.12	0.64	0	1.21
Debt to equity	—	8.71	0.58	0.13	0	0.03
Interest coverage	1	-1	0.6	7.3	0.7	11.4
Asset turnover	—	0.21	0.5	0.23	0.25	0.17
Return ratios
Return on assets %	—	-11.1%	-2.6%	10.6%	0.2%	3%
Return on capital employed %	—	-18%	6.7%	17%	0.2%	3.8%
Return on equity %	—	-134.2%	-5.4%	15.3%	0.3%	3.9%

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
	74.7%	74.7%	74.7%	74.7%	74.7%	74.7%	74.7%	74.7%	74.7%	74.7%	74.7%	74.7%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
DII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	25.3%	25.3%	25.3%	25.3%	25.3%	25.3%	25.3%	25.3%	25.3%	25.3%	25.3%	25.3%
No. of shareholders	—	—	—	—	—	—	—	—	11,745	11,403	11,232	11,114

Promoter holding up 0 percentage points since Sep 2023.

10 deals · 6 Aug 2021 – 12 Jun 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
12 Jun 2025	NEO APEX VENTURE LLP	Bulk	NSE	Sell	87,448	₹83.31	₹0.73 Cr
12 Jun 2025	NEO APEX VENTURE LLP	Bulk	NSE	Buy	70,647	₹83.12	₹0.59 Cr
8 Nov 2024	ORION STOCKS LTD	Bulk	NSE	Sell	75,786	₹76.53	₹0.58 Cr
8 Nov 2024	ORION STOCKS LTD	Bulk	NSE	Buy	74,088	₹76.55	₹0.57 Cr
8 Nov 2024	ORION STOCKS LTD	Bulk	BSE	Buy	62,435	₹76.06	₹0.47 Cr
8 Nov 2024	ORION STOCKS LTD	Bulk	BSE	Sell	54,455	₹77.33	₹0.42 Cr
30 Jun 2023	KOTTA ENTERPRISES LIMITED	Bulk	NSE	Buy	11,70,322	₹42.32	₹4.95 Cr
30 Jun 2023	RADHIKA CHETAN MEHRA	Bulk	NSE	Sell	7,96,715	₹42.28	₹3.37 Cr
30 Jun 2023	CHETAN DURGADAS MEHRA	Bulk	NSE	Sell	3,73,607	₹42.41	₹1.58 Cr
6 Aug 2021	SURAJ PANCHAL	Bulk	NSE	Sell	81,304	₹36.14	₹0.29 Cr

1–10 of 10

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Dharmendra Gulabchand SirajNon-Executive - Non Independent Director-Chairperson
Mr. Chetan Durgadas MehraExecutive Director-CEO-MD
Mr. Neelkamal Vrajlal SirajNon-Executive - Non Independent Director
Mrs. Smita Vinesh DavdaNon-Executive - Independent Director
Mr. Balady Shekar ShettyNon-Executive - Independent Director
Mr. Hitesh Vrajlal SirajNon-Executive - Non Independent Director
T V SubramanianChief Financial Officer, Company Secretary & Compliance Officer

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.

Fund holders

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

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Karma Energy Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

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

Announcements

30

Documents link to external sources (exchange filings, company investor pages).

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Events

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

4

Dividend dividend4 Sept 2014 · ex-date₹0.5
Dividend dividend23 Jul 2013 · ex-date₹0.5
Dividend dividend21 Sept 2012 · ex-date₹0.5
Dividend dividend26 Sept 2011 · ex-date₹0.5

1

Board meeting to consider results13 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

1 announcementsExport CSV

30 Sept 2026, 5:43 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

Date	Category	Subject	Filing
30 Sept 2026, 5:43 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF

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Karma Energy Limited

About

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

Dividends4

Board meetings1

Announcements

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Dividends4

Board meetings1

No fund holdings on record

4

1

4

1