Kamdhenu Ventures, smallcap paint stock, touched a new 52-week high on September 11, after the company announced the expansion of its premium products line in the international market. Kamdhenu is currently a little over Rs 50 on BSE and has rewarded investors with a bonus issue of 1:1 and a stock split ratio of 1:5 in a year. Kamdhenu has given double-digit returns YTD, and a short-term period.
Kamdhenu Ventures Share Price:
After market hours of September 11, the stock ended at Rs 50.45 apiece on BSE, with a market cap of Rs 1,585.92 crore. The smallcap stock touched a new 52-week high of Rs 50.53 apiece during trading hours on Wednesday. At closing price, the stock is up by over 86% from its 52-week low of Rs 27.12 apiece.
In a month, the paint stock surged nearly 38% on BSE. YTD, the stock zoomed by over 47% on the exchange.
Kamdhenu Ventures Big Update:
As per the regulatory filing, Kamdhenu Ventures announced a big development of Kamdhenu Colour and Coatings, the wholly-owned subsidiary of the Company (referred to as Kamdhenu Paints).
It said, after achieving remarkable growth in FY 2023-24 and continuing that momentum in Q1 of FY 2024-25, Kamdhenu Paints is set to expand its Premium product line with the introduction of a new Wood Coatings range, adhering to international quality standards.
The launch is scheduled for October 2024 and will further solidify Kamdhenu Paints' position in the market as a leader in premium, innovative coatings solutions.
Key Highlights of This Exciting Development as per the filing:
- New Wood Coatings Range: Kamdhenu Paints will introduce a range of wood coatings that meet the highest global quality standards, reinforcing our commitment to excellence and innovation.
- Increased Production Capacity Utilization: In response to growing market demand, Kamdhenu Paints has ramped up production capacity utilization from 36,000 kilolitres per year to an impressive 49,000 kilolitres per year, ensuring that we meet the rising need for our Premium products.
- Expansion of Tinting Machines Network: Kamdhenu Paints is also aggressively expanding the installation of tinting machines across its dealer network, enhancing accessibility and service efficiency for our customers.
It needs to be noted that Kamdhenu Paints has always been at the forefront of innovation in the paint industry. It said, "Our experienced and dynamic R&D team introduced the revolutionary Dual Emulsions Series, a cost-effective and inventory-saving solution that has been embraced by dealers, painting contractors, and end customers alike."
Further, Kamdhenu Paints has also opened a new office on the Ground Floor, building number 9A, DLF Cyber City, Gurugram - 121002, Haryana to meet the workforce requirements for meeting the aforesaid expansion.
Kamdhenu Ventures Vision:
With these initiatives, it said, "Kamdhenu Paints is poised to become a major player in the Wood Coatings industry, contributing to a more sustainable and innovative future. We look forward to the continued support of our investors and stakeholders as we embark on this exciting new phase of growth."
Kamdhenu Ventures Stock Split:
Kamdhenu has split its shares in the ratio of 1:5. The stock turned ex-date on June 14, 2024, where its face value of Rs 5 split to Re 1.
Kamdhenu Ventures Bonus Issue:
Prior to the split, Kamdhenu delivered the investors bonus issue in 2023. On August 1, 2023, the company's stock turned ex-date for bonus issue in the ratio of 1:1, meaning investors received 1 free share on their existing 1 share.
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