Kaya Limited (KAYA) · mywealthgrid

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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

—

52-week low

—

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

2,528 historical price candles were omitted because the exchange source has not been verified.

₹298.2-2.9%1Y

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.

37/100

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.

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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

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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 STRATEGIC LONG TERM INVESTMENT FUND	Bulk	NSE	Sell	77,208	₹315.50	₹2.44 Cr
17 Sept 2026	V.E.C FLEXI CAP FUND	Bulk	NSE	Buy	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	RAJEEV KUMAR GUPTA	Bulk	NSE	Sell	70,000	₹219.50	₹1.54 Cr
12 Mar 2025	POOJA GUPTA	Bulk	NSE	Buy	70,000	₹219.50	₹1.54 Cr
21 Jun 2024	MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	NSE	Sell	1,15,000	₹473.55	₹5.45 Cr
21 Jun 2024	MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	NSE	Buy	1,15,000	₹472.59	₹5.43 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

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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

58 announcementsExport CSV

29 Sept 2026, 4:28 pmCompany Update

Announcement Under Regulation 30 (LODR) - Clarification By The Company

General PDF

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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%

Date	Category	Subject	Filing
29 Sept 2026, 4:28 pm	Company Update General	Announcement Under Regulation 30 (LODR) - Clarification By The Company	PDF
7 Sept 2026, 12:47 pm	AGM/EGM EGM	Shareholder Meeting / Postal Ballot-Scrutinizer"s Report	PDF
5 Sept 2026, 11:12 am	AGM/EGM EGM	Shareholder Meeting / Postal Ballot-Outcome of EGM	PDF
2 Sept 2026, 10:29 am	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
10 Aug 2026, 12:16 pm	Company Update Allotment of ESOP / ESPS	Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS	PDF
10 Aug 2026, 10:51 am	Board Meeting Outcome of Board Meeting	Board Meeting Outcome for Outcome Of Board Meeting Held On August 10, 2026.	PDF
7 Aug 2026, 9:42 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
7 Aug 2026, 9:41 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF

₹ 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

About

Key insights

Key risks

Growth drivers

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

Events

Board meetings1

Announcements

Ratio timeline

Not in the F&O segment

No fund holdings on record

Board meetings1

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Return on equity

1

1