KARMAENG

Karma Energy Limited

Karma Energy Limited (KARMAENG) financial statements and selected valuation metrics through 30 June 2026.

Utilities›Power›Power›Power Generation

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Key metrics

Price as of 2026-10-16

Stock price
₹35.46
Market cap
41 Cr
Stock P/E
46.5
P/B
1.01
ROE (FY22)
-5.4%
ROCE (FY22)
6.5%
Operating margin (FY22)
6.8%
Debt / equity (FY22)
0.58
OCF / EBITDA (FY25)
271.0%
OCF / EBITDA (3Y)
369.9%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Karma Energy owns and runs about 30.5 MW of wind farms in India and earns from the electricity they generate, at tariffs that stay fixed for many years.

Company snapshot

27thBy market cap

Ranked among 27 companies in Power Generation.

What we see

Positives
  • ✓370% of operating profit came in as cash over the last three years — profits are backed by real cash.
Concerns
  • ✗Net margin is negative — the company is spending more than it earns right now.
2 more signals from the filings.Sign in free to see them all

Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales6 Cr2 Cr1 Cr2 Cr4 Cr0.94 Cr0.94 Cr3 Cr5 Cr1 Cr0.88 Cr3 Cr
Operating expenses (approx.)2 Cr2 Cr3 Cr2 Cr2 Cr2 Cr1 Cr3 Cr3 Cr3 Cr3 Cr3 Cr
EBITDA4 Cr-0.73 Cr-2 Cr0.21 Cr2 Cr-1 Cr-0.37 Cr-0.09 Cr2 Cr-2 Cr-2 Cr0.66 Cr
OPM %66.5%-48.1%-240.7%8.7%48.7%-146.0%-39.6%-2.9%34.5%-161.0%-277.6%20.6%
Other income0.0011 Cr0.21 Cr0.69 Cr1 Cr0.44 Cr0.28 Cr0.93 Cr0.71 Cr0.37 Cr0.33 Cr2 Cr0.39 Cr
Interest0.03 Cr0.03 Cr0.03 Cr0.03 Cr0.03 Cr0.05 Cr0.04 Cr0.04 Cr0.04 Cr0.04 Cr0.04 Cr0.03 Cr
Depreciation0.75 Cr0.75 Cr0.70 Cr0.47 Cr0.47 Cr0.47 Cr0.48 Cr0.50 Cr0.50 Cr0.51 Cr0.51 Cr0.51 Cr
Profit before tax3 Cr-1 Cr-3 Cr1 Cr2 Cr-2 Cr0.03 Cr0.90 Cr1 Cr-2 Cr-1 Cr0.50 Cr
Tax %24.8%23.4%30.8%11.5%17.8%13.3%-885.4%32.5%26.2%110.1%25.7%12.7%
Net profit3 Cr-0.99 Cr-2 Cr0.93 Cr2 Cr-1 Cr0.30 Cr0.61 Cr1 Cr0.22 Cr-0.82 Cr0.44 Cr
EPS (₹)₹2.22₹-0.86₹-1.50₹0.81₹1.49₹-1.21₹0.26₹0.53₹0.91₹0.19₹-0.71₹0.38

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales27 Cr33 Cr29 Cr36 Cr22 Cr28 Cr13 Cr12 Cr9 Cr10 CrSign in free for the trailing twelve months
Operating expenses (approx.)17 Cr26 Cr25 Cr26 Cr24 Cr22 Cr10 Cr10 Cr8 Cr13 CrSign in free for the trailing twelve months
EBITDA11 Cr8 Cr4 Cr10 Cr-2 Cr5 Cr3 Cr2 Cr0.61 Cr-3 CrSign in free for the trailing twelve months
OPM %39.3%23.8%13.3%27.8%-7.2%19.2%25.0%16.8%7.0%-29.3%Sign in free for the trailing twelve months
Other income1 Cr0.31 Cr2 Cr0.99 Cr0.49 Cr0.95 Cr5 Cr0.96 Cr3 Cr3 CrSign in free for the trailing twelve months
Interest8 Cr5 Cr4 Cr5 Cr5 Cr3 Cr1 Cr0.12 Cr0.15 Cr0.16 CrSign in free for the trailing twelve months
Depreciation5 Cr5 Cr5 Cr5 Cr5 Cr5 Cr5 Cr3 Cr2 Cr2 CrSign in free for the trailing twelve months
Profit before tax-0.84 Cr-1 Cr-6 Cr0.20 Cr-12 Cr-2 Cr7 Cr-0.03 Cr2 Cr-0.94 CrSign in free for the trailing twelve months
Tax %329.1%12.5%27.2%13.4%8.8%6.0%18.2%517.8%0.3%212.1%Sign in free for the trailing twelve months
Net profit2 Cr-1 Cr-4 Cr0.17 Cr-11 Cr-2 Cr6 Cr0.12 Cr2 Cr1 CrSign in free for the trailing twelve months
EPS (₹)₹1.66₹-0.97₹-3.68₹0.15₹-9.10₹-1.84₹5.09₹0.11₹1.35₹0.91Sign in free for the trailing twelve months
Dividend payout %——————0.0%0.0%0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital12 Cr—12 Cr12 Cr12 Cr12 Cr12 Cr12 Cr12 Cr12 Cr
Reserves32 Cr—36 Cr34 Cr21 Cr19 Cr27 Cr27 Cr28 Cr29 Cr
Borrowings45 Cr—48 Cr59 Cr58 Cr17 Cr5 Cr0.01 Cr1 Cr0.79 Cr
Other liabilities30 Cr—23 Cr26 Cr23 Cr16 Cr12 Cr12 Cr11 Cr5 Cr
Total liabilities119 Cr—119 Cr131 Cr113 Cr63 Cr55 Cr50 Cr52 Cr47 Cr
Fixed assets (net)48 Cr—45 Cr42 Cr37 Cr32 Cr27 Cr23 Cr22 Cr21 Cr
CWIP0.37 Cr—0.33 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Investments38 Cr—50 Cr59 Cr56 Cr2 Cr14 Cr13 Cr6 Cr11 Cr
Loans & advances——0 Cr0 Cr0 Cr4 Cr0 Cr0 Cr0 Cr0 Cr
Inventories0.54 Cr—0.48 Cr0.42 Cr0.44 Cr2 Cr2 Cr2 Cr2 Cr2 Cr
Trade receivables25 Cr—10 Cr16 Cr7 Cr10 Cr11 Cr9 Cr7 Cr1 Cr
Cash & bank4 Cr—7 Cr0.32 Cr0.53 Cr0.28 Cr0.29 Cr0.09 Cr0.58 Cr0.11 Cr
Other assets3 Cr—6 Cr13 Cr12 Cr13 Cr2 Cr3 Cr15 Cr12 Cr
Total assets119 Cr—119 Cr131 Cr113 Cr63 Cr55 Cr50 Cr52 Cr47 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity9 Cr—6 Cr5 Cr11 Cr-2 Cr16 Cr4 Cr2 Cr2 Cr
Cash from investing6 Cr—-11 Cr-19 Cr0.12 Cr51 Cr7 Cr0.69 Cr-2 Cr-2 Cr
Cash from financing-15 Cr—8 Cr8 Cr-11 Cr-49 Cr-22 Cr-5 Cr0.72 Cr-0.58 Cr
Net cash flow-0.24 Cr—3 Cr-7 Cr0.20 Cr-0.30 Cr0.02 Cr-0.20 Cr0.49 Cr-0.47 Cr
Free cash flow (OCF − Capex)9 Cr—-1 Cr4 Cr11 Cr-2 Cr16 Cr4 Cr0.32 Cr0.32 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
ROCE %6.3%—-3.1%6.7%-7.3%6.5%
ROE %-0.1%—-23.2%-1.1%-134.2%-5.4%
Debtor days290—11014498114
Inventory days55—28243828
Days payable9—82095
Cash conversion cycle336—131148127137
OCF / EBITDA %35.6%—101.0%59.7%—-18.0%
OCF / EBITDA % (3 years)————143.3%89.8%
Debt / equity1.670.001.853.278.710.58
Current ratio0.51—0.590.430.292.65
Net debt / EBITDA5.400.0011.036.63—2.08