KARMAENG
Karma Energy financials
- Market cap
- ₹44 Cr
- Sector
- Power
What Karma Energy Limited does
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
Quarterly results
Q4 FY22: revenue down 16.8%, net profit up 61.0% against the same quarter last year.
| Line item | Q1 FY21 | Q2 FY21 | Q3 FY21 | Q4 FY21 | Q1 FY22 | Q2 FY22 | Q3 FY22 | Q4 FY22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7 | 11 | 4 | 2 | 7 +1% | 12 +10% | 10 +127% | 2 −17% |
| EBITDA | 0 | 2 | -1 | -3 | 1 +226% | 3 +35% | 5 +607% | -1 +73% |
| Net profit | -3 | -1 | -3 | -7 | -2 +36% | 1 +200% | 2 +177% | -3 +61% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −22.7% 1Y
1Y: ₹51.29 on 10 Sept 2025 → ₹39.63. High ₹70.8 (24 Sept 2025), low ₹34.43 (30 Mar 2026).
Financials, as filed
Revenue fell 13.1% a year over 2 years, FY20 to FY22. Operating margin narrowed to 26.1%.
| Year ending | FY20 | FY21 | FY22 |
|---|---|---|---|
| Revenue | ₹42 Cr | ₹25 Cr | ₹32 Cr |
| Operating profit | ₹13 Cr | ₹-1 Cr | ₹8 Cr |
| Operating margin | 31.0% | -5.1% | 26.1% |
| Interest | ₹7 Cr | ₹7 Cr | ₹5 Cr |
| Depreciation | ₹7 Cr | ₹6 Cr | ₹6 Cr |
| Net profit | ₹0 Cr | ₹-13 Cr | ₹-2 Cr |
| Net margin | 0.4% | -52.6% | -5.1% |
| Cash from operations | ₹8 Cr | ₹11 Cr | ₹-1 Cr |
| Free cash flow | ₹6 Cr | ₹12 Cr | ₹-1 Cr |
| ROCE | 6.0% | -6.2% | 4.1% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 |
|---|---|---|---|---|---|---|
| Equity capital | ₹12 Cr | ₹12 Cr | ₹12 Cr | ₹12 Cr | ₹12 Cr | ₹12 Cr |
| Reserves | ₹47 Cr | ₹70 Cr | ₹30 Cr | ₹15 Cr | ₹-2 Cr | ₹19 Cr |
| Borrowings | ₹91 Cr | ₹73 Cr | ₹86 Cr | ₹98 Cr | ₹93 Cr | ₹19 Cr |
| Other liabilities | ₹22 Cr | ₹29 Cr | ₹19 Cr | ₹17 Cr | ₹16 Cr | ₹14 Cr |
| Total liabilities | ₹173 Cr | ₹183 Cr | ₹146 Cr | ₹142 Cr | ₹119 Cr | ₹63 Cr |
| Fixed assets | ₹103 Cr | ₹97 Cr | ₹89 Cr | ₹85 Cr | ₹80 Cr | ₹32 Cr |
| Capital work in progress | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹2 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹29 Cr | ₹61 Cr | ₹26 Cr | ₹20 Cr | ₹16 Cr | ₹2 Cr |
| Other assets | ₹39 Cr | ₹25 Cr | ₹30 Cr | ₹35 Cr | ₹23 Cr | ₹29 Cr |
| Total assets | ₹173 Cr | ₹183 Cr | ₹146 Cr | ₹142 Cr | ₹119 Cr | ₹63 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
The ownership split has held steady since Jun 2025. The shareholder count shrank 4% to 11,114.
- Promoters
- 74.7%
- Public
- 25.3%
Since Jun 2025
- Public +0.01 pp
- Promoters 0.00 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 74.7%, Public 25.3%.Dec '23: Promoters 74.7%, Public 25.3%.Mar '24: Promoters 74.7%, Public 25.3%.Jun '24: Promoters 74.7%, Public 25.3%.Sep '24: Promoters 74.7%, Public 25.3%.Dec '24: Promoters 74.7%, Public 25.3%.Mar '25: Promoters 74.7%, Public 25.3%.Jun '25: Promoters 74.7%, Public 25.3%.Sep '25: Promoters 74.7%, Public 25.3%.Dec '25: Promoters 74.7%, Public 25.3%.Mar '26: Promoters 74.7%, Public 25.3%.Jun '26: Promoters 74.7%, Public 25.3%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Karma Energy Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Kotta Enterprises Private Limited | 29.94% | unchanged |
| Inspeed Power Private Limited | 18.32% | unchanged |
| Anju Dharmendra Siraj | 8.54% | unchanged |
| Prabhanjan Multitrade Private Limited | 8.27% | unchanged |
| Dharmendra Gulabchand Siraj | 7.30% | unchanged |
| Sitex India Private Limited | 2.12% | unchanged |
| Investor Education And Protection Fund Authority | 2.11% | unchanged |
| Kanan Neelkamal Siraj | 2.08% | unchanged |
| Meghna Neelkamal Siraj | 1.95% | unchanged |
| Isha Siraj Kedia | 0.14% | unchanged |
| Windia Infrastructure Finance Limited | 0.02% | unchanged |
| Tapi Energy Projects Limited | 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.
Learn to analyse Karma Energy Limited
Guides on how to read this kind of business and the numbers that matter.