Kaya Ltd (KAYA) AI Stock Analysis

• Market Cap: ₹5.44B
• Dividend Yield: N/A
• Average Volume (3M): 2.58K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.05
• Revenue Growth: -29.55%
• EPS Growth: 59.11%
• Country: IN
• Employees: 687
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Household & Personal Products
• EPS (TTM): -23.41
• Shares Outstanding: 15,187,609
• 10 Day Avg. Volume: 487
• 30 Day Avg. Volume: 2,578
• PEG Ratio: 0.11
• Price to Book (P/B): -2.26
• Price to Sales (P/S): 1.45
• P/FCF Ratio: -5.71
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 38 Underperform
• Price Target: ₹315.00 ▼(-22.73% Downside)

Kaya Ltd's overall stock score is primarily impacted by its poor financial performance, characterized by declining revenues, persistent losses, and financial instability. Technical analysis further supports a bearish outlook, with the stock showing oversold conditions. The negative P/E ratio and lack of dividend yield highlight valuation concerns. These factors collectively result in a low overall stock score.

Positive Factors

Stable end-market demand

Operating in household and personal products gives Kaya exposure to relatively inelastic, recurring consumer demand. This structural demand profile can provide revenue stability through cycles, supporting long-term recovery if execution and distribution are improved.

Operational scale (employees)

A workforce of 687 indicates existing operational capacity across production, R&D and distribution. Maintaining this scale can help preserve institutional knowledge, support product rollouts and service levels, aiding a sustainable turnaround if cash and margins stabilize.

Improving EPS trend

Reported EPS growth of ~46% suggests the company has started to improve earnings on a year-over-year basis. If driven by durable cost controls or product mix shifts, this trend could reflect nascent operational leverage that aids profitability recovery over the medium term.

Negative Factors

Negative shareholders' equity

Negative shareholders' equity signals deep capital impairment and strained solvency. It limits ability to raise equity, complicates debt metrics (debt/equity not meaningful) and reduces strategic flexibility, increasing the risk that restructuring or external capital will be required for long-term viability.

Weak cash generation

Persistent negative operating and free cash flow undermines the company's ability to fund operations, capex and debt service internally. Over months to years this heightens liquidity pressure, increases reliance on external financing and constrains investments needed for sustainable growth.

Declining revenue and margin pressure

Sustained revenue declines and compressing gross margins indicate loss of pricing power or rising costs versus peers. Continued operating losses make it harder to achieve scale benefits, reduce reinvestment capacity, and extend the time needed to reach self-sustaining profitability.

Kaya Ltd Business Overview & Revenue Model

Company Description

Kaya Limited owns and operates hair and skin care clinics. The company offers solutions in the categories of anti-ageing, pigmentation, acne/acne-scar reduction, laser hair reduction, hair fall, hair transplant, and dandruff and under-nourished hair treatment, as well as beauty enhancement services. It also provides a range of products covering hair and skin care for men and women. The company sells its products through Kaya stores; and online and third-Party outlets, as well as its website shop.kaya.in. It operates a network of 71 clinics in India and 23 clinics in the Middle East. The company was founded in 2002 and is headquartered in Mumbai, India.

How the Company Makes Money

Kaya Ltd generates revenue through multiple streams, primarily from the sale of its plant-based products, which include supplements and functional foods, both through direct-to-consumer channels and retail partnerships. The company has established a significant online presence, allowing it to reach a broader audience and capitalize on e-commerce trends. Additionally, KAYA engages in strategic partnerships with health and wellness retailers, enhancing its distribution network and brand visibility. The company also explores collaborations with health practitioners and wellness influencers to drive brand loyalty and increase market penetration. These diverse revenue streams, coupled with a focus on high-quality, sustainable products, contribute to KAYA's overall financial performance.

Kaya Ltd Financial Statement Overview

Summary

Kaya Ltd faces substantial financial challenges, with declining revenues, persistent losses, and a highly leveraged balance sheet. The negative equity and cash flow issues raise concerns about the company's ability to sustain operations without significant restructuring or external support.

Income Statement

Kaya Ltd has experienced declining revenue over the past few years, with a significant drop from 2024 to 2025. The company consistently reports negative EBIT and net income, indicating ongoing operational challenges. Gross profit margins have also decreased, reflecting pressure on cost management and pricing power.

Balance Sheet

The balance sheet shows negative stockholders' equity, indicating financial distress. The debt-to-equity ratio is not calculable due to negative equity, but high total debt levels suggest significant leverage. The equity ratio is negative, further highlighting the company's financial instability.

Cash Flow

Cash flow analysis reveals negative free cash flow and operating cash flow in the latest year, pointing to liquidity issues. The free cash flow to net income ratio is unfavorable, and the company struggles to generate cash from operations, which could impact its ability to meet financial obligations.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.18B	2.17B	4.04B	3.77B	3.24B	2.75B
Gross Profit	1.18B	687.29M	905.02M	3.03B	2.61B	2.20B
EBITDA	229.76M	349.31M	-311.10M	-146.25M	152.75M	417.20M
Net Income	-372.48M	-453.22M	-1.29B	-1.16B	-688.37M	-380.14M
Balance Sheet
Total Assets	0.00	2.37B	2.95B	3.70B	3.61B	3.68B
Cash, Cash Equivalents and Short-Term Investments	108.69M	110.19M	452.81M	749.34M	514.73M	236.03M
Total Debt	0.00	2.56B	3.01B	2.49B	2.04B	1.60B
Total Liabilities	1.39B	3.76B	5.22B	4.73B	3.62B	3.13B
Stockholders Equity	-1.39B	-1.39B	-2.27B	-1.04B	-15.54M	544.79M
Cash Flow
Free Cash Flow	0.00	-551.02M	28.55M	378.14M	139.37M	287.31M
Operating Cash Flow	0.00	-253.25M	387.93M	627.78M	298.89M	316.11M
Investing Cash Flow	0.00	245.94M	-85.14M	-397.65M	-346.81M	43.26M
Financing Cash Flow	0.00	-100.29M	-375.49M	-183.28M	118.47M	-307.41M

Kaya Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 407.65
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KAYA, the sentiment is Negative. The current price of 407.65 is above the 20-day moving average (MA) of 366.73, above the 50-day MA of 375.43, and above the 200-day MA of 388.44, indicating a bearish trend. The MACD of -10.27 indicates Positive momentum. The RSI at 46.22 is Neutral, neither overbought nor oversold. The STOCH value of 33.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:KAYA.

Kaya Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GMBREW	75 Outperform	₹24.25B	13.91	―	0.72%	―	―
ASALCBR	66 Neutral	₹16.92B	18.97	―	0.21%	16.02%	48.63%
UBL	65 Neutral	₹400.61B	109.21	―	0.62%	8.08%	-22.42%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
SASTASUNDR	47 Neutral	₹9.26B	-452.43	―	―	-3.97%	96.73%
KAYA	38 Underperform	₹5.44B	-6.50	―	―	-29.55%	59.11%

Kaya Ltd Corporate Events

Kaya Seeks Shareholder Nod to Recast Use of Preferential Issue Funds via Postal Ballot

Kaya Limited has initiated a postal ballot process to seek shareholders’ approval for changing the objects clause governing the utilization of funds raised through a prior preferential issue of 20,90,068 equity shares. The company is conducting the vote exclusively via remote e-voting, facilitated by NSDL, for members whose emails are registered as of the specified cut-off date, in line with Companies Act, MCA and SEBI regulations. Approval of this special resolution would allow Kaya to vary or revise how the preferential issue proceeds are deployed versus the original plan approved at an earlier extraordinary general meeting, potentially giving management greater flexibility in capital allocation and future strategic initiatives.