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Last Updated: April 2, 2026, 3:12 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 533451 | NSE: KARMAENG

Karma Energy Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹14.65Overvalued by 59.53%vs CMP ₹36.20

P/E (25.7) × ROE (1.9%) × BV (₹36.00) × DY (2.00%)

₹24.26Overvalued by 32.98%vs CMP ₹36.20
MoS: -49.2% (Negative)Confidence: 53/100 (Moderate)Models: 1 Under, 2 Fair, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹19.9824%Over (-44.8%)
Graham NumberEarnings₹39.1314%Fair (+8.1%)
Earnings PowerEarnings₹13.2312%Over (-63.5%)
DCFCash Flow₹44.8112%Under (+23.8%)
Net Asset ValueAssets₹36.048%Fair (-0.4%)
EV/EBITDAEnterprise₹15.8110%Over (-56.3%)
Earnings YieldEarnings₹18.908%Over (-47.8%)
ROCE CapitalReturns₹12.118%Over (-66.5%)
Revenue MultipleRevenue₹7.536%Over (-79.2%)
Consensus (9 models)₹24.26100%Overvalued
Key Drivers: EPS CAGR 36.4% lifts DCF — verify sustainability. | ROE 1.9% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 36.4%

*Investments are subject to market risks

Investment Snapshot

40
Karma Energy Ltd scores 40/100 (Weak)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health41/100 · Moderate
ROCE 1.4% WeakROE 1.9% WeakD/E 0.76 ModerateInterest Coverage 0.0x RiskyProfitable 3/5 years Mixed
Smart Money50/100 · Moderate
Promoter holding at 74.7% Stable
Earnings Quality30/100 · Weak
OPM contracting (22% → 17%) DecliningWorking capital: 639 days Capital intensive
Quarterly Momentum50/100 · Moderate
Revenue (4Q): +12% YoY GrowingOPM: -160.0% (down 13.2% YoY) Margin pressure
Industry Rank35/100 · Weak
P/E 25.7 vs industry 41.9 Cheaper than peersROCE 1.4% vs industry 9.0% Below peersROE 1.9% vs industry 11.7% Below peers3Y sales CAGR: -32% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Karma Energy Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
70/100
High
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 25.7 vs Ind 41.9 | ROCE 1.4% | ROE 1.9% | CFO/NP N/A
Balance Sheet Stress
30/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.76x | IntCov 0.0x | Current 0.88x | Borrow/Reserve 0.06x
Cash Flow Reliability
14/100
Weak
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹2 Cr | CFO/NP N/A
Ownership Accumulation
0
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII N/A | DII N/A | Prom 0.00 pp
Business Momentum
-100
Early weakness
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales -74.0% | Q NP -79.0% | Q OPM -194.4 pp
Derived FieldValueHow it is derived
Valuation Gap %-33.0%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.06xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII ChangeN/ALatest FII% minus previous FII%
DII ChangeN/ALatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change-342Latest shareholder count minus previous count
Quarterly Sales Change-74.0%Latest quarter sales vs previous quarter sales
Quarterly Profit Change-79.0%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change-194.4 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:12 am

Market Cap 41.8 Cr.
Current Price 36.2
Intrinsic Value₹24.26
High / Low 88.0/34.4
Stock P/E25.7
Book Value 36.0
Dividend Yield0.00 %
ROCE1.38 %
ROE1.94 %
Face Value 10.0
PEG Ratio0.71

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Karma Energy Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Karma Energy Ltd 41.8 Cr. 36.2 88.0/34.425.7 36.00.00 %1.38 %1.94 % 10.0
Adani Power Ltd 3,02,982 Cr. 157 183/92.426.4 30.30.00 %22.5 %26.1 % 2.00
NHPC Ltd 75,730 Cr. 75.4 92.3/68.724.0 41.02.53 %7.42 %7.53 % 10.0
Tata Power Company Ltd 1,21,487 Cr. 380 418/33232.1 1180.59 %10.8 %11.0 % 1.00
Reliance Power Ltd 9,243 Cr. 22.4 76.5/20.232.7 39.90.00 %6.15 %1.08 % 10.0
Industry Average60,447.10 Cr156.8041.9494.050.95%8.95%11.73%7.77

All Competitor Stocks of Karma Energy Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1.871.153.516.311.511.032.404.420.940.943.064.621.20
Expenses 2.112.552.442.122.243.502.202.262.321.313.153.033.12
Operating Profit -0.24-1.401.074.19-0.73-2.470.202.16-1.38-0.37-0.091.59-1.92
OPM % -12.83%-121.74%30.48%66.40%-48.34%-239.81%8.33%48.87%-146.81%-39.36%-2.94%34.42%-160.00%
Other Income 0.169.310.060.000.210.691.350.440.280.931.530.370.33
Interest 0.310.040.030.030.030.030.030.030.050.040.040.040.04
Depreciation 1.221.190.740.750.750.700.470.470.470.480.500.500.51
Profit before tax -1.616.680.363.41-1.30-2.511.052.10-1.620.040.901.42-2.14
Tax % -12.42%36.08%19.44%24.93%-23.08%-30.68%11.43%17.62%-13.58%-675.00%32.22%26.06%-110.75%
Net Profit -1.414.260.292.57-0.99-1.740.931.72-1.400.300.611.050.22
EPS in Rs -1.223.680.252.22-0.86-1.500.801.49-1.210.260.530.910.19

Last Updated: March 4, 2026, 4:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 5:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 28.5615.3213.9727.4733.5029.1135.8823.0727.5312.8112.358.709.82
Expenses 12.9010.249.0016.8025.6125.2325.9024.8922.249.629.148.0910.61
Operating Profit 15.665.084.9710.677.893.889.98-1.825.293.193.210.61-0.79
OPM % 54.83%33.16%35.58%38.84%23.55%13.33%27.81%-7.89%19.22%24.90%25.99%7.01%-8.04%
Other Income 2.682.725.581.150.31-0.530.990.490.959.98-0.183.003.16
Interest 8.117.136.997.774.504.225.355.253.411.140.120.150.16
Depreciation 7.744.905.004.984.984.965.425.115.094.832.941.891.99
Profit before tax 2.49-4.23-1.44-0.93-1.28-5.830.20-11.69-2.267.20-0.031.570.22
Tax % 38.15%-26.00%6.94%-300.00%-12.50%-27.27%15.00%-8.55%-5.75%18.19%-500.00%-0.00%
Net Profit 1.53-3.13-1.541.85-1.12-4.250.17-10.69-2.135.890.121.562.18
EPS in Rs 1.32-2.71-1.331.60-0.97-3.670.15-9.24-1.845.090.101.351.89
Dividend Payout % 37.81%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-304.58%50.80%220.13%-160.54%-279.46%104.00%-6388.24%80.07%376.53%-97.96%1200.00%
Change in YoY Net Profit Growth (%)0.00%355.37%169.33%-380.67%-118.92%383.46%-6492.24%6468.31%296.45%-474.49%1297.96%

Karma Energy Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:-6%
5 Years:-25%
3 Years:-32%
TTM:-17%
Compounded Profit Growth
10 Years:9%
5 Years:53%
3 Years:39%
TTM:15%
Stock Price CAGR
10 Years:10%
5 Years:37%
3 Years:23%
1 Year:-38%
Return on Equity
10 Years:-3%
5 Years:-4%
3 Years:5%
Last Year:4%

Last Updated: September 5, 2025, 8:50 am

Balance Sheet

Last Updated: December 4, 2025, 1:31 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 11.5711.5711.5711.5711.5711.5711.5711.5711.5711.5711.5711.5711.57
Reserves 34.6031.5329.9843.4862.1236.1734.2520.9918.6426.9026.8728.4130.04
Borrowings 54.9250.4473.4159.2944.3156.6671.1464.7818.806.281.081.951.74
Other Liabilities 25.5223.0821.7019.2624.2615.3614.3215.2214.4010.7210.5210.077.86
Total Liabilities 126.61116.62136.66133.60142.26119.76131.28112.5663.4155.4750.0452.0051.21
Fixed Assets 59.7558.1053.1047.8942.9245.1042.3137.4632.3727.3823.2922.0620.66
CWIP 0.290.320.340.370.320.330.000.000.000.000.000.000.00
Investments 34.3634.3644.2153.1378.6149.8858.9952.421.8813.5212.545.768.40
Other Assets 32.2123.8439.0132.2120.4124.4529.9822.6829.1614.5714.2124.1822.15
Total Assets 126.61116.62136.66133.60142.26119.76131.28112.5663.4155.4750.0452.0051.21

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 19.0810.63-12.2119.0814.135.724.6711.08-1.594.964.431.66
Cash from Investing Activity + -1.59-3.22-9.87-4.263.98-10.63-19.400.1250.698.550.69-1.89
Cash from Financing Activity + -15.78-7.5122.06-15.06-14.028.127.56-11.03-49.39-13.49-5.320.72
Net Cash Flow 1.71-0.10-0.02-0.244.093.21-7.160.17-0.300.02-0.200.49
Free Cash Flow 18.787.41-12.2319.0414.19-1.443.5910.86-1.595.393.520.84
CFO/OP 142%275%-245%191%194%185%48%-671%-29%199%163%341%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-39.26-45.36-68.44-48.62-36.42-52.78-61.16-66.60-13.51-3.092.13-1.34

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 43.07371.19798.45332.8483.02124.26161.34107.43131.39300.89271.02292.00
Inventory Days
Days Payable
Cash Conversion Cycle 43.07371.19798.45332.8483.02124.26161.34107.43131.39300.89271.02292.00
Working Capital Days 94.32-120.55-667.56-391.5745.65-169.02-305.59-623.3692.01104.29207.77638.96
ROCE %9.85%1.55%0.34%5.97%2.77%0.78%5.01%-6.01%1.57%6.98%2.44%1.38%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 74.70%74.70%74.70%74.70%74.70%74.70%74.70%74.70%74.70%74.70%74.70%74.70%
Public 25.29%25.30%25.30%25.28%25.29%25.30%25.30%25.30%25.29%25.29%25.30%25.31%
No. of Shareholders 7,7697,6307,7168,3148,7499,46510,94011,16211,33911,53911,74511,403

Shareholding Pattern Chart

No. of Shareholders

Karma Energy Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 22Mar 21Mar 20Mar 19Mar 18
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) -1.40-11.47-0.24-8.62-2.11
Diluted EPS (Rs.) -1.40-11.47-0.24-8.62-2.11
Cash EPS (Rs.) 3.87-6.015.86-4.622.19
Book Value[Excl.RevalReserv]/Share (Rs.) 26.118.5522.8637.1373.90
Book Value[Incl.RevalReserv]/Share (Rs.) 26.118.5522.8637.1373.90
Revenue From Operations / Share (Rs.) 27.3621.8536.1929.9934.83
PBDIT / Share (Rs.) 7.95-0.6212.247.4910.63
PBIT / Share (Rs.) 2.67-6.096.522.165.22
PBT / Share (Rs.) -1.52-12.340.14-9.08-1.57
Net Profit / Share (Rs.) -1.40-11.470.13-9.96-3.22
NP After MI And SOA / Share (Rs.) -1.40-11.47-0.24-8.62-2.11
PBDIT Margin (%) 29.05-2.8833.8124.9630.51
PBIT Margin (%) 9.77-27.8718.007.1914.98
PBT Margin (%) -5.55-56.440.38-30.29-4.49
Net Profit Margin (%) -5.12-52.490.37-33.19-9.24
NP After MI And SOA Margin (%) -5.12-52.49-0.66-28.76-6.06
Return on Networth / Equity (%) -5.37-134.19-1.05-24.13-2.99
Return on Capital Employeed (%) 5.88-18.0411.782.593.87
Return On Assets (%) -2.56-11.06-0.19-6.82-1.33
Long Term Debt / Equity (X) 0.381.750.950.920.60
Total Debt / Equity (X) 0.578.713.331.850.76
Asset Turnover Ratio (%) 0.300.170.250.190.21
Current Ratio (X) 2.650.290.430.580.88
Quick Ratio (X) 2.430.260.390.530.69
Interest Coverage Ratio (X) 1.90-0.101.921.261.57
Interest Coverage Ratio (Post Tax) (X) 0.66-0.831.020.210.52
Enterprise Value (Cr.) 43.7891.0693.5685.7898.03
EV / Net Operating Revenue (X) 1.383.602.232.472.43
EV / EBITDA (X) 4.76-124.926.619.907.97
MarketCap / Net Operating Revenue (X) 1.180.630.380.560.92
Price / BV (X) 1.241.610.610.470.45
Price / Net Operating Revenue (X) 1.180.630.380.560.92
EarningsYield -0.04-0.83-0.01-0.50-0.06

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Karma Energy Ltd. is a Public Limited Listed company incorporated on 15/03/2007 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L31101MH2007PLC168823 and registration number is 168823. Currently Company is involved in the business activities of Electric power generation using other non conventional sources. Company's Total Operating Revenue is Rs. 8.70 Cr. and Equity Capital is Rs. 11.57 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Power - Generation/DistributionEmpire House, 214, Dr. D.N.Road, Mumbai Maharashtra 400001Contact not found
Management
NamePosition Held
Mr. Dharmendra G SirajChairman
Mr. Chetan D MehraManaging Director
Mr. Neelkamal V SirajDirector
Mrs. Smita V DavdaDirector
Mr. Balady S ShettyDirector
Mr. Hitesh V SirajDirector

FAQ

What is the intrinsic value of Karma Energy Ltd and is it undervalued?

As of 05 April 2026, Karma Energy Ltd's intrinsic value is ₹24.26, which is 32.98% lower than the current market price of ₹36.20, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (1.94 %), book value (₹36.0), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Karma Energy Ltd?

Karma Energy Ltd is trading at ₹36.20 as of 05 April 2026, with a FY2026-2027 high of ₹88.0 and low of ₹34.4. The stock is currently near its 52-week low. Market cap stands at ₹41.8 Cr..

How does Karma Energy Ltd's P/E ratio compare to its industry?

Karma Energy Ltd has a P/E ratio of 25.7, which is below the industry average of 41.94. This is broadly in line with or below the industry average.

Is Karma Energy Ltd financially healthy?

Key indicators for Karma Energy Ltd: ROCE of 1.38 % is on the lower side compared to the industry average of 8.95%; ROE of 1.94 % is below ideal levels (industry average: 11.73%). Dividend yield is 0.00 %.

Is Karma Energy Ltd profitable and how is the profit trend?

Karma Energy Ltd reported a net profit of ₹2 Cr in Mar 2025 on revenue of ₹9 Cr. Compared to ₹-2 Cr in Mar 2022, the net profit shows an improving trend.

Does Karma Energy Ltd pay dividends?

Karma Energy Ltd has a dividend yield of 0.00 % at the current price of ₹36.20. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Karma Energy Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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