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Kaya Limited (KAYA) · mywealthgrid

About

Kaya Limited operates in wellness and leisure services within Consumer Discretionary. With market cap ₹511.71 Cr and quarterly revenue in the ₹52–60 Cr range, it is a modest-scale player in India's organized wellness sector. Across the past 12 months, the company has posted net losses every quarter while operating margins have swung from -22.74% to +7.07%, indicating operational challenges.

Face value: ₹10

Market cap

₹453 Cr

P/E

—

P/B

—

Dividend yield

ROE

—

ROCE

-59%

Debt / equity

—

OPM

-10.7%

EPS (TTM)

₹-63.3

Book value

₹-100.6

52-week high

₹468.0

52-week low

₹227.1

Key insights

Company research notes and source-linked reviews

Key risks

Persistent unprofitability across all recent quarters: Cumulative net loss of ₹111.34 Cr over eight quarters (Jun 2025–Jun 2026) erodes equity—verify cash reserves, burn rate, and path to breakeven.
Margin volatility and execution risk: Operating margins ranged from -22.74% (Mar 2026) to +7.07% (Jun 2025), with blended OPM of -10.69%—verify drivers of volatility and whether Jun 2026's 6.43% OPM reflects structural improvement or seasonality.
Weak institutional adoption: FII (0.71%) and DII (2.99%) ownership is minimal; stock fell 22.4% in one year—verify if decline reflects valuation reset or loss of investor confidence in turnaround.
Revenue stagnation amid losses: Quarterly revenue flat at ₹52–60 Cr with no visible growth—verify whether current scale is economically viable or requires significant expansion.

Generated analysis · source review pending

Growth drivers

Operating margin recovery: Jun 2026 OPM of 6.43% vs Mar 2026's -22.74% indicates cost normalization—verify if this reflects structural improvement or seasonality, and whether company can sustain or improve further.
Stable underlying revenue base: Quarterly revenue held ₹52–60 Cr range over past 12 months despite losses—verify whether operational footprint can grow within existing cost structure or requires new store formats.
Wellness sector growth potential: Verify whether India's organized beauty and wellness market is expanding, and whether Kaya can gain share through new locations or premium service tiers on its current cost structure.

Generated analysis · source review pending

₹298.2-36.3%1Y

Beta

1.06

Moves with the index

Volatility (1y)

49.4%

Annualised, daily returns

RSI (14)

33.6

Neither overbought nor oversold

Rel. strength (1y)

-46%

Behind the market

Beta is measured against NIFTY 50 over three years of weekly returns — 1 moves with the index, above 1 amplifies it, below 1 damps it.

Quick read

rule-based

Pros

No positive flags triggered.

Cons

−Low return on equity of -135.6% (3-yr avg)
−Revenue shrank over the last 5 years (-4.1% a year)
−Weak interest coverage of -1.7×
−Promoter holding fell 8.2 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

36/100

Business quality: 0
Growth: 12
Valuation: 100

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

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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 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	400	420	393	275	324	377	404	217	222
COGS	41	16	17	11	11	13	14	15	11
Gross profit	359	404	376	264	313	363	390	202	211
	363	398	380	241	315	388	435	184	235
	-4	6	-4	23	-2	-25	-44	18	-24
OPM %	-1%	1.5%	-1%	8.4%	-0.5%	-6.6%	-11%	8.2%	-10.7%
Depreciation	24	29	75	60	62	60	63	38	44
Interest	1	3	17	15	16	36	36	31	36
	10	5	9	15	12	5	13	134	7
Profit before tax	-20	-21	-87	-37	-68	-116	-130	84	-96
Tax	-0	-6	21	0	0	0	0	0	0
Tax %	-1.9%	-26.3%	24.1%	0%	0%	0%	0%	0%	0%
	-20	-16	-109	-37	-68	-116	-130	84	-96
PAT margin %	-4.9%	-3.7%	-27.7%	-13.6%	-21%	-30.9%	-32.1%	38.5%	-43.2%
EPS (₹)	-15.2	-11.9	-12.2	-29.1	-52.7	-89.2	-98.9	64	-66.7
EPS adjusted (₹)	16.2	-12.2	-83.4	-29.1	-52.7	-89.2	-98.9	63.9	-63.3
Annual report	Annual report for Mar 2018	Annual report for Mar 2019	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	Annual report for Mar 2026

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	13	13	13	13	13	13	13	13	13	15
Reserves	243	197	145	69	41	-15	-117	-240	-153	-168
Minority interest	—	—	—	—	0	1	1	—	—	—
	19	14	19	22	36	86	142	178	168	163
	148	148	192	305	277	276	331	344	208	267
Total equity & liabilities	423	372	368	409	368	361	370	295	237	278
	78	97	203	180	279	240	217	174	158	193
CWIP	2	1	1	0	1	0	0	—	—	0
Investments	89	20	14	19	11	26	21	29	4	39
	254	253	150	209	78	96	132	92	75	46
Total assets	423	372	368	409	368	361	370	295	237	278

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	96.2%	95.6%	96.1%	96.6%	96.5%	96.5%	93%	94.9%
EBITDA margin %	1.9%	12.8%	8.4%	-0.5%	-6.6%	-10.7%	8.2%	-10.7%
EBIT margin %	-5%	-6.3%	-13.6%	-19.8%	-22.5%	-26.3%	-9.1%	-30.5%
PAT margin %	-3.7%	-27.7%	-13.6%	-21%	-30.9%	-32.1%	38.5%	-43.2%
Working capital
Receivable days	5	5	4	4	3	4	4	1
Inventory days	982	761	937	906	805	746	614	644
Payable days	24	33	1,104	1,214	1,369	1,303	335	409
NWC days	962	732	-163	-304	-561	-553	283	235
Leverage
Current ratio	—	—	0.43	0.54	0.57	0.36	0.46	0.42
Debt to EBITDA	2.38	0.44	1.56	—	—	—	9.38	—
Debt to equity	0.12	0.27	0.66	-55.21	-1.37	-0.78	-1.2	-1.07
Interest coverage	-5.8	-1	-1.5	-3.3	-2.2	-2.6	-0.1	-1.7
Asset turnover	1.14	0.96	0.75	0.9	1.02	1.37	0.92	0.8
Return ratios
Return on assets %	-4.2%	-26.6%	-10.2%	-18.8%	-31.4%	-43.9%	35.3%	-34.6%
Return on capital employed %	-4.9%	-4.6%	-8%	-29.8%	-56.1%	-142.4%	-5.2%	-59%
Return on equity %	-9.9%	-133.3%	-68.7%	4,356.4%	112.1%	57.2%	-60%	63%

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
	59.93%	59.93%	59.79%	59.79%	59.64%	59.64%	59.64%	59.64%	51.43%	51.43%	51.43%	51.43%
	0.81%	0.73%	0.74%	1.24%	1.27%	1.27%	1.5%	0.95%	0.63%	0.63%	0.68%	0.71%
	1.34%	1.34%	1.97%	3.53%	3.61%	3.37%	1.71%	2.09%	2.53%	2.79%	2.95%	2.99%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	37.92%	38%	37.5%	35.44%	35.48%	35.72%	37.15%	37.32%	45.41%	45.15%	44.94%	44.87%
No. of shareholders	—	—	—	—	—	—	—	—	18,724	18,295	17,932	18,043

Promoter holding down 8.5 percentage points since Sep 2023.

44 deals · 12 Jun 2024 – 17 Sept 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
17 Sept 2026	V.E.C FLEXI CAP FUND	Bulk	NSE	Buy	77,208	₹315.50	₹2.44 Cr
17 Sept 2026	V E C STRATEGIC LONG TERM INVESTMENT FUND	Bulk	NSE	Sell	77,208	₹315.50	₹2.44 Cr
26 Jun 2025	EQUITY INTELLIGENCE INDIA PRIVATE LIMITED	Bulk	NSE	Sell	1,20,000	₹419.01	₹5.03 Cr
17 Mar 2025	RAJEEV KUMAR GUPTA	Bulk	NSE	Buy	70,000	₹216.00	₹1.51 Cr
17 Mar 2025	POOJA GUPTA	Bulk	NSE	Sell	70,000	₹216.00	₹1.51 Cr
12 Mar 2025	POOJA GUPTA	Bulk	NSE	Buy	70,000	₹219.50	₹1.54 Cr
12 Mar 2025	RAJEEV KUMAR GUPTA	Bulk	NSE	Sell	70,000	₹219.50	₹1.54 Cr
21 Jun 2024	MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	NSE	Buy	1,15,000	₹472.59	₹5.43 Cr
21 Jun 2024	MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	NSE	Sell	1,15,000	₹473.55	₹5.45 Cr
14 Jun 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	1,37,475	₹437.16	₹6.01 Cr

1–10 of 44

1 / 5

Mr. Harsh Charandas MariwalaExecutive Director-Chairperson-MD
Mr. Rajendra Kishore MariwalaNon-Executive - Non Independent Director
Mr. Rishabh Harsh MariwalaNon-Executive - Non Independent Director
Mr. Nikhil Nirvan KhattauNon-Executive - Non Independent Director
Mr. Rajiv SuriGlobal Chief Executive Officer
Ms. Anita BelaniNon-Executive - Independent Director
Mrs. Vasuta AgarwalNon-Executive - Independent Director
Mr. Vivek Anant KarveNon-Executive - Independent Director
Mr. Brijesh GoyalChief Financial Officer
Mrs. Shilpa Ashutosh RathiCompany 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.

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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 Kaya 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

Annual reports

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

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Events

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

1

Board meeting to consider results3 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

24 announcementsExport CSV

7 Aug 2026, 9:26 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

7 Aug 2026, 5:22 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

3 Aug 2026, 5:44 pmCompany Update

Announcement under Regulation 30 (LODR)-Press Release / Media Release

Press Release / Media Release PDF

3 Aug 2026, 4:40 pmCompany Update

Appointment of Company Secretary and Compliance Officer

Appointment of Company Secretary / Compliance Officer PDF

3 Aug 2026, 4:17 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

3 Aug 2026, 4:04 pmBoard Meeting

Board Meeting Outcome for Outcome Of Board Meeting Held On August 3, 2026.

Outcome of Board Meeting PDF

3 Aug 2026, 10:30 amCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

31 Jul 2026, 5:48 pmCompany Update

Reconstitution Of Committee Of The Company

General PDF

Date	Category	Subject	Filing
7 Aug 2026, 9:26 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
7 Aug 2026, 5:22 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF

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Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
The Indian Hotels Company LimitedINDHOTELINDHOTEL	₹1,02,200 Cr	₹1,02,251 Cr	₹9,987 Cr	₹3,291 Cr	33%	₹2,146 Cr	23.2%	17%	17.2%	-191
Itc Hotels LimitedITCHOTELSITCHOTELS	₹33,018 Cr	₹33,019 Cr	₹4,260 Cr	₹1,471 Cr	34.4%	₹864 Cr	19.8%	10.2%	7.3%	600
Jubilant Foodworks LimitedJUBLFOODJUBLFOOD	₹29,256 Cr	₹31,001 Cr	₹9,846 Cr	₹1,947 Cr	19.9%	₹450 Cr	4.7%	16%	19.5%	-82
Leela Palaces Hotels & Resorts LimitedTHELEELATHELEELA	₹19,003 Cr	₹20,560 Cr	₹1,604 Cr	₹785 Cr	48.6%	₹298 Cr	26.4%	8.4%	0.5%	-147
Eih LimitedEIHOTELEIHOTEL	₹18,628 Cr	₹18,628 Cr	₹3,023 Cr	₹1,030 Cr	34.8%	₹712 Cr	22.4%	18.6%	12.7%	-295
Chalet Hotels LimitedCHALETCHALET	₹18,182 Cr	₹20,506 Cr	₹2,387 Cr	₹1,064 Cr	42.9%	₹528 Cr	23.3%	18.4%	19.1%	80
Tbo Tek LimitedTBOTEKTBOTEK	₹18,152 Cr	₹18,798 Cr	₹3,092 Cr	₹432 Cr	13.8%	₹265 Cr	9.1%	18.5%	17.8%	-133
Travel Food Services LimitedTRAVELFOODTRAVELFOOD	₹15,911 Cr	₹15,911 Cr	₹1,725 Cr	₹665 Cr	39.4%	₹476 Cr	27.5%	37.6%	30.6%	-438
Devyani International LimitedDEVYANIDEVYANI	₹15,666 Cr	₹17,027 Cr	₹5,835 Cr	₹898 Cr	15.1%	₹-28 Cr	-0.8%	5.2%	-2.9%	-89
Ventive Hospitality LimitedVENTIVEVENTIVE	₹12,894 Cr	₹14,929 Cr	₹2,496 Cr	₹1,079 Cr	44.4%	₹588 Cr	20.4%	10.2%	9.7%	-201
Westlife Foodworld LimitedWESTLIFEWESTLIFE	₹9,168 Cr	₹9,467 Cr	₹2,704 Cr	₹344 Cr	12.8%	₹32 Cr	1.2%	—	5.3%	—
Bls International Services LimitedBLSBLS	₹8,914 Cr	₹9,144 Cr	₹3,178 Cr	₹867 Cr	27.3%	₹706 Cr	24.1%	30.1%	32.7%	-19

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-19	-12	22	47	32	30	63	39	1	21
	14	24	-28	-12	4	-35	-40	-9	25	-63
	4	-7	5	-47	-31	12	-18	-38	-37	37
Net cash flow	—	—	—	—	5	7	5	-7	-11	-6
Free cash flow	-31	—	-12	38	29	14	38	3	-29	-20
CFO / Operating profit %	—	—	272.9%	93.9%	137.4%	—	—	—	7%	—

Kaya Limited

Kaya Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

1

Announcements

No fund holdings on record

1

Not in the F&O segment

Announcements

Annual reports

Compounded sales growth

Stock price CAGR

Return on equity

Kaya Limited

Kaya Limited

About

Key insights

Key risks

Growth drivers

Risk & technicals

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

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

Board meetings1

Announcements

No fund holdings on record

Board meetings1

Ratio timeline

Not in the F&O segment

Announcements

Annual reports

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Stock price CAGR

Return on equity

1

1