We Think Some Shareholders May Hesitate To Increase Kamdhenu Limited's (NSE:KAMDHENU) CEO Compensation
Key Insights
- Kamdhenu to hold its Annual General Meeting on 25th of September
- CEO Satish Agarwal's total compensation includes salary of ₹28.9m
- Total compensation is 566% above industry average
- Kamdhenu's EPS grew by 27% over the past three years while total shareholder return over the past three years was 108%
Under the guidance of CEO Satish Agarwal, Kamdhenu Limited (NSE:KAMDHENU) has performed reasonably well recently. In light of this performance, CEO compensation will probably not be the main focus for shareholders as they go into the AGM on 25th of September. However, some shareholders may still want to keep CEO compensation within reason.
See our latest analysis for Kamdhenu
How Does Total Compensation For Satish Agarwal Compare With Other Companies In The Industry?
At the time of writing, our data shows that Kamdhenu Limited has a market capitalization of ₹8.2b, and reported total annual CEO compensation of ₹29m for the year to March 2025. This was the same as last year. Notably, the salary of ₹29m is the entirety of the CEO compensation.
On comparing similar-sized companies in the Indian Metals and Mining industry with market capitalizations below ₹18b, we found that the median total CEO compensation was ₹4.3m. Accordingly, our analysis reveals that Kamdhenu Limited pays Satish Agarwal north of the industry median. What's more, Satish Agarwal holds ₹626m worth of shares in the company in their own name, indicating that they have a lot of skin in the game.
| Component | 2025 | 2024 | Proportion (2025) |
| Salary | ₹29m | ₹29m | 100% |
| Other | - | - | - |
| Total Compensation | ₹29m | ₹29m | 100% |
On an industry level, it's fascinating to see that all of total compensation represents salary and non-salary benefits do not factor into the equation at all. On a company level, Kamdhenu prefers to reward its CEO through a salary, opting not to pay Satish Agarwal through non-salary benefits. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance.
A Look at Kamdhenu Limited's Growth Numbers
Kamdhenu Limited's earnings per share (EPS) grew 27% per year over the last three years. It achieved revenue growth of 7.6% over the last year.
This demonstrates that the company has been improving recently and is good news for the shareholders. It's nice to see revenue heading northwards, as this is consistent with healthy business conditions. Although we don't have analyst forecasts, you might want to assess this data-rich visualization of earnings, revenue and cash flow.
Has Kamdhenu Limited Been A Good Investment?
We think that the total shareholder return of 108%, over three years, would leave most Kamdhenu Limited shareholders smiling. As a result, some may believe the CEO should be paid more than is normal for companies of similar size.
In Summary...
Kamdhenu rewards its CEO solely through a salary, ignoring non-salary benefits completely. Seeing that the company has put up a decent performance, only a few shareholders, if any at all, might have questions about the CEO pay in the upcoming AGM. However, any decision to raise CEO pay might be met with some objections from the shareholders given that the CEO is already paid higher than the industry average.
CEO compensation can have a massive impact on performance, but it's just one element. That's why we did some digging and identified 2 warning signs for Kamdhenu that investors should think about before committing capital to this stock.
Important note: Kamdhenu is an exciting stock, but we understand investors may be looking for an unencumbered balance sheet and blockbuster returns. You might find something better in this list of interesting companies with high ROE and low debt.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.