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Swing Capital

Karma Energy Ltd

NSE: KARMAENG BSE: 533451Energy

Incorporated in 2007, Karma Energy Ltd is engaged in the generation of power from renewable sources like Wind. [1]

₹49.1
52W: ₹34.4 — ₹88
PE 34.8 · Book ₹36 · +36% vs book
Market Cap₹56.8 Cr
Stock P/E34.8Price to Earnings
ROCE1.38%Return on Capital
ROE1.94%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company is almost debt free.

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Company has low interest coverage ratio.
  • −The company has delivered a poor sales growth of -24.7% over past five years.
  • −Company has a low return on equity of 4.78% over last 3 years.
  • −Earnings include an other income of Rs.3.16 Cr.
  • −Company has high debtors of 292 days.
  • −Working capital days have increased from 317 days to 639 days

Shareholding Pattern

Promoters74.7%
FIIs0%
DIIs0%
Public25.32%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters74.7%74.7%74.7%74.7%74.7%74.7%74.7%74.7%
FIIs0%0%0%0%0%0%0%0%
DIIs0%0%0%0%0%0%0%0%
Public25.3%25.3%25.3%25.29%▼0.025.29%25.3%▲0.025.31%▲0.025.32%▲0.0

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales6.311.511.032.44.420.940.943.064.621.2
Expenses2.122.243.52.22.262.321.313.153.033.12
Operating Profit4.19-0.73-2.470.22.16-1.38-0.37-0.091.59-1.92
OPM %66.4%-48.34%-239.81%8.33%48.87%-146.81%-39.36%-2.94%34.42%-160%
Net Profit2.57-0.99-1.740.931.72-1.40.30.611.050.22
EPS ₹2.22-0.86-1.50.81.49-1.210.260.530.910.19

AI Insights

Revenue Trend

TTM revenue at ₹9.82Cr, up 12.9% YoY. OPM at -8.04%.

Debt Position

Borrowings at ₹1.74Cr. Debt-to-equity ratio: 0.06x. Healthy balance sheet.

Institutional Flow

DIIs: 0% (+0.00pp change). FIIs: 0% (+0.00pp change). Promoters hold 74.7%.

Margin & Efficiency

ROCE declining from 9.85% (Mar 2014) to 1.38% (Mar 2025). Working capital days: 638.96.

Valuation

PE 34.8x with 1.38% ROCE. Price is 36% above book value of ₹36. Dividend yield: 0%.

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