1. SRF stake sale unlocks trapped value - The board approved disposal of up to 3% of SRF Limited's paid-up share capital, which may take Kama Holdings' holding below 50%, with completion targeted by 31 March 2027. SRF contributed 99.51% of consolidated revenue and 87.50% of net worth, so even a partial divestment at market prices would surface value well above the holding-company discount embedded in Kama's current market cap.
2. Unexecuted capex contracts double - Contracts remaining to be executed on capital account stood at ₹672.61 crore as of 31 March 2025, more than double the ₹318.82 crore a year earlier. A near-doubling of committed but unspent capex signals that the underlying operating subsidiaries are in an active expansion cycle, which feeds into consolidated earnings growth.
3. Shri Educare adds five schools - Shri Educare Ltd. expanded its portfolio by adding four K-12 schools (Jaipur, Pune, Nagpur, Kolkata) and one PYP school (Noida) during FY25, and plans to add at least four more K-12 schools and two pre-schools in FY26. Each new school under management or consultancy adds a recurring fee stream with low incremental capital, lifting a segment that grew revenue 23% year-on-year to ₹33.14 crore.
4. Maldives school reaches self-sufficiency - The Shri Educare-managed public-private partnership school in Maldives is now financially self-sufficient and has established itself as one of the best schools in the country. A self-sustaining offshore operation removes any drain on parent resources while contributing ₹30.50 crore in revenue, and creates a proven model for further international PPP mandates.
5. KAMA Realty rental income jumps - KAMA Realty (Delhi) Ltd. reported revenue and other income of ₹27.76 crore in FY25, more than triple the ₹8.36 crore in the prior year, with profit after tax rising to ₹25.06 crore. A step-change in rental income from acquired properties adds a stable, high-margin earnings layer that diversifies the group away from its manufacturing-heavy base.
6. SRF Transnational turns profitable - SRF Transnational Holdings Ltd., the group's NBFC investment arm, swung to a profit of ₹1.90 crore in FY25 from a loss of ₹1.65 crore a year earlier, on revenue of ₹10.35 crore. A return to profitability in the investment portfolio eliminates a small but persistent earnings drag and signals that mark-to-market pressures have eased.