Karma Energy Limited
NSE: KARMAENG · Power Generation · sector
₹33.52NSE close 2026-10-26
Key numbers
Market cap₹39 cr
Price₹33.52
52w high / low₹61 / ₹31
P/E43.5xSector median 18.7x
P/B0.9xSector median 1.5x
Book value₹35.3
Dividend yield–Sector median 1.39%
ROE2.2%Sector median 4.5%
ROCE-2.8%Sector median 6.2%
OPM-21.4%Sector median 33.3%
Debt / equity0.02xSector median 0.90x
EV/EBITDA–Sector median 9.8x
Interest cover-7.8x
Current ratio13.36x
Sales growth 3y-8.7%Sector median +3.1%
Profit growth 3y-43.7%Sector median +19.3%
PEG–
Last 12 months to Jun 2026, Standalone. "Sector median" = middle value of 35 companies in Power Generation (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹0 cr vs borrowings ₹1 cr (FY26): borrowings are higher by ₹1 cr.
- Operating profit covered interest -7.8x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 0 of the last 5 years.
- Net loss in 2 of the last 8 quarters.
- Revenue was higher than a year earlier in 3 of the last 4 quarters.
- Other income was 338% of net profit in the last 12 months.
- Debtor days went from 271 (FY24) to 46 (FY26).
- No dividend in the last 5 financial years.
- Price ₹33.52 on 2026-10-26: -44.9% from the 52-week high, +6.6% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹83.38 · low ₹33.52
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4 | 1 | 1 | 3 | 5 | 1 | 1 | 3 |
| EBITDA | 2 | -1 | -0 | 1 | 2 | -2 | -2 | 1 |
| OPM % | 48.6% | -146.8% | -39.4% | 23.9% | 34.4% | -160.0% | -277.3% | 20.6% |
| Other income | 0 | 0 | 1 | 1 | 0 | 0 | 2 | 0 |
| Net profit | 2 | -1 | 0 | 1 | 1 | 0 | -1 | 0 |
| EPS (₹) | 1.49 | -1.21 | 0.26 | 0.53 | 0.91 | 0.19 | -0.71 | 0.38 |
| Revenue YoY | +4.5% | +27.7% | -6.4% | +4.6% | ||||
| Profit YoY | -39.0% | – | -373.3% | -27.9% |
Standalone figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 28 | 13 | 12 | 9 | 10 | 10 |
| EBITDA | 5 | 8 | 2 | 1 | -2 | -2 |
| Net profit | -2 | 6 | 0 | 2 | 1 | 1 |
| EPS (₹) | -1.84 | 5.09 | 0.11 | 1.35 | 0.91 | 0.77 |
| Revenue growth | -53.5% | -3.6% | -29.6% | +12.2% | +5.8% | |
| Profit growth | – | -98.0% | +1,200.0% | -32.7% | -28.5% | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -8.7% | -15.3% | +5.8% |
| Net profit | -43.7% | – | -28.5% |
| EPS | -43.7% | – | – |
| Share price | – | -31.9% (2y) | -45.8% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 38 | 38 | 40 | 41 |
| Borrowings | – | 5 | 0 | 1 | 1 |
| Cash & equivalents | – | 0 | 0 | 1 | 0 |
| Total assets | – | 55 | 50 | 52 | 47 |
| Fixed assets | – | 27 | 23 | 22 | 21 |
| Capital work in progress | – | 0 | 0 | 0 | 0 |
| Investments | – | 14 | 13 | 6 | 11 |
| Receivables | – | 11 | 9 | 7 | 1 |
| Inventory | – | 2 | 2 | 2 | 2 |
| Payables | – | 0 | 1 | 1 | 0 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | -2 | 16 | 4 | 2 | 2 |
| Cash from investing | 51 | 7 | 1 | -2 | -2 |
| Cash from financing | -49 | -22 | -5 | 1 | -1 |
| Capex | 0 | 0 | 0 | 1 | 2 |
| Free cash flow | -2 | 16 | 4 | 0 | 0 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 15.3% | 0.3% | 3.9% | 2.6% |
| ROCE % | – | 19.2% | 0.2% | 4.2% | -1.9% |
| Debtor days | – | 301 | 271 | 292 | 46 |
| Inventory days | – | 58 | 60 | 82 | 62 |
| Payable days | – | 7 | 26 | 32 | 3 |
| Cash conversion cycle (days) | – | 352 | 305 | 342 | 105 |
| Working capital days | – | 113 | 210 | 663 | 502 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 74.70% |
| Government | 0.00% |
| Public (non-institutions) | 25.30% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 74.70% | 74.70% | 74.70% | 74.70% | 74.70% | 74.70% | 74.70% | 74.70% |
| Promoter group | % |
|---|---|
| Kotta Enterprises Private Limited | 29.94% |
| Inspeed Power Private Limited | 18.32% |
| Anju Siraj | 8.54% |
| Prabhanjan Multitrade Private Limited | 8.27% |
| Dharmendra Gulabchand Siraj | 7.30% |
| Sitex India Private Limited | 2.12% |
| Isha Siraj Kedia | 0.14% |
| Windia Infrastructure Finance Limited | 0.02% |
| Weizmann Corporate Services Limited | 0.01% |
| Hansneel Impex Private Limited | 0.01% |
| Purvaja Projects Limited | 0.01% |
| Ram Krishna Iron Works Private Limited | 0.01% |
| Tapi Energy Projects Limited | 0.01% |
| Arun Durgadas Mehra | 0.00% |
| Shweta Siraj Mehta | 0.00% |
| Public holders above 1% | % |
|---|---|
| Investor Education and Protection Fund Authority | 2.11% |
| Kanan Neelkamal Siraj | 2.08% |
| Meghna Neelkamal Siraj | 1.95% |
11,053 shareholders. Pledged: 0.00% of promoter shares.
Peers in Power Generation
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| NTPC | ₹2,90,900 cr | 10.5x | 1.4x | 14.3% | 8.7% | 30.9% | +2.1% | 3.01% |
| ADANIGREEN | ₹2,05,875 cr | 113.6x | 9.5x | 9.1% | 7.3% | 86.3% | +18.4% | 0.16% |
| JSWENERGY | ₹82,396 cr | 40.1x | 2.7x | 6.8% | 7.2% | 53.2% | +22.3% | 0.44% |
| NHPC | ₹70,878 cr | 18.7x | 1.7x | 9.4% | 5.0% | 47.4% | +3.1% | 3.33% |
| NTPCGREEN | ₹68,877 cr | 115.1x | 3.6x | 3.2% | 3.6% | 87.1% | – | – |
| NLCINDIA | ₹31,803 cr | 9.6x | 1.5x | 15.7% | 9.0% | 33.3% | +2.7% | 2.31% |
| ACMESOLAR | ₹26,965 cr | 39.0x | 5.3x | 12.6% | 8.6% | 87.6% | – | 0.09% |
| SJVN | ₹19,256 cr | 30.2x | 1.4x | 4.5% | 5.5% | 69.8% | +15.5% | 2.97% |
| CLEANMAX | ₹13,612 cr | 127.6x | 2.9x | 2.0% | 5.4% | 59.2% | – | – |
| KARMAENG | ₹39 cr | 43.5x | 0.9x | 2.2% | -2.8% | -21.4% | -8.7% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2024-07-23 | Other | Annual General Meeting |
| 2023-07-20 | Other | Annual General Meeting |
| 2022-07-20 | Other | Annual General Meeting |
| 2021-09-20 | Other | Annual General Meeting |
| 2020-12-14 | Other | Annual General Meeting |
| 2019-07-29 | Other | Annual General Meeting |
| 2018-07-27 | Other | Annual General Meeting |
| 2017-08-11 | Other | Annual General Meeting |
| 2016-08-24 | Other | Annual General Meeting |
| 2015-09-03 | Other | Annual General Meeting |
| 2014-09-04 | Dividend | Annual General Meeting / Dividend - Re 0.50/- Per Share |
| 2013-07-23 | Dividend | Annual General Meeting And Dividend Re.0.50 Per Share |
| 2012-09-21 | Dividend | Annual General Meeting And Dividend Re.0.50 Per Share |
| 2011-09-26 | Dividend | Dividend-Re.0.50 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Utilities |
| Industry | Power Generation |
| Sub-industry | Power Generation |
| Symbol | KARMAENG |
| BSE code | 533451 |
| ISIN | INE725L01011 |
| Face value | ₹10.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.