Kamdhenu Limited — Important, 23-03-2026: Disclosure of material issue

**Issue:** Kamdhenu Limited's Loan and Investment Committee has approved converting an existing 10 Cr unsecured loan to its franchisee, Maa Kudargarhi Steels Private Limited (MKSPL), into equity shares.

**Possible Impact:** This isn't a fresh cash outflow for Kamdhenu; it's a financial restructuring. The conversion gives Kamdhenu a 0.88% equity stake in MKSPL, a key franchisee engaged in manufacturing TMT bars and wire rods. MKSPL reported a robust FY25 turnover of 1,751.12 Cr and an EBIDA of 108.45 Cr. This strategic move could deepen Kamdhenu's ties and align interests with a successful partner.

**Company’s Response/Mitigation Plan:** Kamdhenu views this as part of its strategic objective to acquire stakes in franchisee units, strengthening its ecosystem. By converting the loan, the company participates in MKSPL's future growth without deploying new capital. The transaction is set to finalize by March 31, 2026.