Karma Energy share price & results

Karma Energy Limited· Power· Utilities

Results to: Mar 2022
Ownership as of: Sept 2026

Mumbai-based wind power generation company operating wind farms in Maharashtra and Tamil Nadu, selling generated electricity to state utility grids.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

Metric	Value	Change	Basis	Period	Note
Revenue	2.0 ₹ crore	−16.8% YoY	Quarterly, as filed	Quarter to Mar 2022	Revenue from operations as filed.
Operating margin	-37.0 %	+78.6 pts YoY	Operating profit / revenue	Quarter to Mar 2022	For the quarter; a change is in percentage points.
Net profit	-2.7 ₹ crore	—	Quarterly, as filed	Quarter to Mar 2022	Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown.
Return on equity	Unavailable	+65.0 ptsFY Mar 2022 vs FY Mar 2021	Trailing twelve months	TTM · period unavailable	Not in the analysed materials. No older figure is substituted.
Free cash flow margin	Unavailable	−41.5 ptsFY Mar 2022 vs FY Mar 2021	Fiscal year	FY · period unavailable	Not in the analysed materials. No older figure is substituted.
Revenue growth (YoY)	Unavailable	+64.9 ptsFY Mar 2022 vs FY Mar 2021	Trailing twelve months	TTM · period unavailable	Not in the analysed materials. No older figure is substituted.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Mar 2022

Price

₹33.14 −1.13% · −₹0.38

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −41.8% 1Y

1Y: ₹56.93 on 24 Oct 2025 → ₹33.14. High ₹57.96 (28 Oct 2025), low ₹31.86 (23 Oct 2026).

Previous close: ₹33.52
Market cap: ₹38 Cr
52-week range: ₹31.86 – ₹57.96
One year: −42.33%

Overview

Symbol: NSE:KARMAENG
Sector: Power
Industry: Utilities
Exchange: NSE
Currency: INR

What Karma Energy Limited does

Based on the company's own presentations, annual report and earnings calls.

Karma Energy Limited generates wind power and sells the electricity to state utilities such as TANGEDCO in Tamil Nadu. It operates wind farms in Maharashtra (Beed, Satara) and Tamil Nadu (Theni, Tirunelveli); an earlier wind farm in Andhra Pradesh has been shut since November 2023 and was partly divested. The company is classified as an infrastructure (Wind Power Generation) entity under the Companies Act and has no subsidiaries, associates or joint ventures.

Segments

Wind Power Generation

Wind power plant locations: Maharashtra (Beed, Satara) and Tamil Nadu (Theni, Tirunelveli)
States with operating wind farms: 2
Andhra Pradesh wind farm status: Closed since 01.11.2023; partially divested
Site incidents, FY2024-25: Fires at two locations in Aranmanaikadu, Theni (Jan 2024 and Aug 2024)
Wind resource availability shortfall, FY2024-25: Over 24.58% below normal
Subsidiaries / associates / JVs: None

Founded 2007Headquarters Mumbai, Maharashtra Company website

Fundamentals

Ratios, each with its period

Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2017 to Mar 2022).

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
— — — — — —

How it is calculated. Market capitalisation from the current stock record.

Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
—	—	—	—	—	—

A dash means inputs are missing or too old, the ratio does not apply, or the value is outside the supported range. FY uses the reported fiscal period; TTM the latest twelve months; valuations use the current market cap with the chosen earnings period. Screen Indian stocks on these ratios →

Financials

What the filings say

Net profit, year on year: +61% (quarter to mar 2022 against mar 2021).

In ₹ crore. Oldest period first.

Line item	Jun 2020	Sept 2020	Dec 2020	Mar 2021	Jun 2021	Sept 2021	Dec 2021	Mar 2022
Sales	7	11	4	2	7	12	10	2
Expenses	7	9	5	5	6	9	5	3
Operating profit	0	2	-1	-3	1	3	5	-1
Operating margin	3.3%	20.4%	−22.9%	−115.6%	10.5%	25.2%	51.0%	−37.0%
Other income	0	0	0	0	0	0	0	1
Interest	2	2	2	2	1	1	1	1
Depreciation	2	2	2	2	2	2	2	1
Profit before tax	-3	-1	-4	-6	-2	0	2	-2
Tax rate	−6.9%	−32.2%	−28.0%	10.5%	−13.0%	−81.8%	2.1%	15.4%
Net profit	-3	-1	-3	-7	-2	1	2	-3
EPS (₹ per share)	-2.43	-0.52	-2.56	-5.98	-1.56	0.52	1.97	-2.33

Source: Inve data · income statement, quarterly · to Mar 2022

In ₹ crore. Oldest period first.

Line item	Mar 2020	Mar 2021	Mar 2022
Sales	42	25	32
Expenses	29	27	23
Operating profit	13	-1	8
Other income	1	1	1
Interest	7	7	5
Depreciation	7	6	6
Profit before tax	0	-14	-2
Net profit	0	-13	-2

Source: Inve data · income statement, annual · to Mar 2022

In ₹ crore. Oldest period first.

Line item	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Equity capital	12	12	12	12	12	12
Reserves	47	70	30	15	-2	19
Borrowings	91	73	86	98	93	19
Other liabilities	22	29	19	17	16	14
Total liabilities	173	183	146	142	119	63
Fixed assets	103	97	89	85	80	32
Capital work in progress	1	1	1	2	0	0
Investments	29	61	26	20	16	2
Other assets	39	25	30	35	23	29
Total assets	173	183	146	142	119	63

Source: Inve data · balance sheet · to Mar 2022

In ₹ crore. Oldest period first.

Line item	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Cash from operations	5	22	6	8	11	-1
Cash from investing	9	4	-11	-19	1	50
Cash from financing	-14	-21	7	3	-12	-49
Net cash flow	-1	4	3	-7	0	-0
Free cash flow	7	22	-1	6	12	-1

Source: Inve data · cash flow · to Mar 2022

In days and %. Oldest period first.

Line item	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Debtor days	291	76	110	144	98	114
Cash conversion cycle	291	76	110	144	98	114
Working capital days	-456	-79	-344	-481	-986	80
Return on capital employed	5.3%	3.8%	1.8%	6.0%	−6.2%	4.1%
Dividend payout	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Source: Inve data · annual ratios · to Mar 2022

Ownership

Who owns it

Promoters hold 74.70% as of Sept 2026.

Promoters 0.00 pts 74.70%
Public 0.00 pts 25.30%

11,053 shareholders on the register.

Source: Exchange shareholding filings · to Sept 2026 · 8 filings held

Who was buying across the market this quarter

Who is on the register

Named in the Sep 2026 filing

Every holder of Karma Energy Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.

Holder	Stake	Change
	29.94%	unchanged
	18.32%	unchanged
	8.54%	unchanged
	8.27%	unchanged
	7.30%	unchanged
	2.12%	unchanged
	2.11%	unchanged
	2.08%	unchanged
	1.95%	unchanged
	0.14%	unchanged
	0.02%	unchanged
	0.01%	unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

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