Kamdhenu Ventures, the paints business of Kamdhenu Group, has reported net consolidated loss of Rs 3.25 crore in the quarter ended December 31, 2022. It had recorded loss after tax of Rs 1.74 crore in Q2 F23, the company said in a BSE filing
The company’s net consolidated income stood at Rs 69.69 crore in Q3 FY23, a quarter-on-quarter growth of 8.08 per cent from Rs 64.48 crore it registered in the previous quarter of the financial year 2022-23.
Kamdhenu Ventures 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.
The aggregate face value of new equity shares of Rs 1,346.78 lakh and preference shares amounting to Rs 400.16 lakh issued by the company to the equity and preference shareholders of Kamdhenu pursuant to clause 3.9.1 and 3.9.2 of the scheme has been shown as paid up share capital of the company.
The company 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 company of the company. The consolidated financial results of the company have been prepared after incorporating financial results of subsidiary company namely KCCL.
Since the paint business got transferred to subsidiary company effective April 1, 2022, the consolidated figures for the quarter/ nine months ended December 31, 2021 are not comparable with current quarter and nine months ended December 31, 2022, it said in the regulatory filing.