Kaya Ltd Q4 FY25 Results & Concall Highlights: Revenue, Margins & Order Book
Published 26 Aug 2026 | Leisure Services | Market Cap: ₹451 Cr
Kaya aims to accelerate expansion in FY '26 with 7 clinics already signed and more in consideration, building on 4 clinics opened in FY '25. Kaya Limited plans an accelerated expansion program in FY '26 with 7 clinics already signed and more under search, aiming to outpace market growth.
From Kaya Ltd's Q4 FY25 earnings-call transcript · updated 26 Aug 2026.
Price
₹350
Market Cap
₹451 Cr
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Kaya Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹56 Cr, net profit ₹-28 Cr.
Full financials →📊 Revenue & Sales Performance
- →Kaya aims to accelerate expansion in FY '26 with 7 clinics already signed and more in consideration, building on 4 clinics opened in FY '25.
- →The brand refresh program is ongoing with 24 clinic renovations and 13 relocations till date; expansions and renovations will continue into FY '26.
- →Kaya targets growth ahead of the market, which is estimated to be growing at 17% per year, especially through new clinic openings layered on like-for-like growth.
- →Skin-related service categories remain a competitive edge with strong recent growth: brightening and pigmentation up 21%, anti-ageing up 46%.
- →Marketing investments will increase to drive customer acquisition supporting volume growth.
- →Use of technology and loyalty programs expected to enhance customer experience and boost collections.
- →Overall, Kaya expects higher growth rates post-expansion and cost management enabling improvement toward profitability.
📈 Profitability & Margins
- →Kaya Limited plans an accelerated expansion program in FY '26 with 7 clinics already signed and more under search, aiming to outpace market growth.
- →The company expects operating profitability improvements by leveraging head office cost efficiencies as scale increases.
- →Expansion and like-for-like growth are expected to drive stronger top-line growth (15% growth achieved in Q4 FY '25).
- →Raising funds via rights issue will retire debt, saving approximately INR18 crores annually in interest, improving net profitability.
- →Operating margin improvement is anticipated as marketing and corporate overheads stabilize relative to revenue growth.
- →Longer-term focus includes growing core skin categories where Kaya holds competitive advantage, supported by robust growth in Anti-Ageing (46%) and Brightening & Pigmentation (21%).
- →Overall, management targets profitability improvement and net worth positivity post-fundraise, projecting a positive earnings trajectory.
🏗️ Capital Expenditure Plans
- →Kaya Limited renovated 13 clinics and relocated 7 clinics in FY '25 as part of a brand refresh program.
- →Total of 24 clinic renovations and 13 relocations till date across 72 existing clinics.
- →The renovation and relocation program will continue into FY '26 with 7 clinics already signed for renovation/relocation.
- →The company invested in 9 new dermatology machines during Q4 FY '25, including equipment for brightening, pigmentation, acne, hair care, and laser hair reduction.
- →Kaya plans to accelerate expansion with 4 new clinics opened in FY '25 and 7 new clinics signed for FY '26, with more locations under search.
- →The expansion includes higher marketing investments to support customer acquisition.
- →Strategic focus is on leveraging current infrastructure and managing head office costs to drive profitability alongside expansion.
💰 Fundraising & Capital Structure
- →Kaya Limited plans to raise funds through a rights issue in the "not-too-distant future" as confirmed by Rajiv Suri and Arihant Dhariwal.
- →The purpose of the rights issue is to retire current loans and improve profitability by saving on approximately INR18 crores in annual interest costs.
- →The rights issue will also help the company become net worth positive from its current negative position.
- →No specific timeline for completion was disclosed, but fundraising is described as imminent.
- →The company is currently evaluating amendments related to the rights issue and will communicate further updates in due course.
- →There was no mention of raising new debt; focus is primarily on equity fundraising through the rights issue.
📋 Order Book & Pipeline
- →In FY '25, Kaya Limited renovated 13 clinics and relocated 7 clinics, totaling 20 clinics refreshed under the Brand Refresh program.
- →As of May 2025, there have been 24 renovations and 13 relocations completed till date out of 72 existing clinics.
- →For FY '26, Kaya has already signed 7 new clinics and is actively searching for more locations.
- →The company plans to continue the renovation and expansion program into FY '26, aiming to accelerate growth.
- →They are starting to accelerate the overall expansion program with marketing investments and leveraging current infrastructure for profitability.
- →The pipeline of clinics under negotiation or search indicates a growing order book for future openings beyond the 7 signed clinics for FY '26.
Key Metrics
Frequently Asked Questions
What were Kaya Ltd Q4 FY25 results?
Kaya aims to accelerate expansion in FY '26 with 7 clinics already signed and more in consideration, building on 4 clinics opened in FY '25. Kaya Limited plans an accelerated expansion program in FY '26 with 7 clinics already signed and more under search, aiming to outpace market growth.
What is Kaya Ltd share price analysis?
Kaya Ltd currently shows a neutral. The stock trades at a P/E of N/A with a market cap of ₹451 Cr. Investors should review the full earnings analysis for detailed insights.
Is Kaya Ltd planning capital expenditure?
Kaya Limited renovated 13 clinics and relocated 7 clinics in FY '25 as part of a brand refresh program.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.