KRISHCA
Krishca Strapp. financials
- Market cap
- ₹249 Cr
- Sector
- Capital Goods
- Calls analysed
- 2
Krishca Strapp. Q2 FY26
What went well
- Standalone total income for H1 FY26 reached 92.7 crores, marking 45% year-on-year growth.
- EBITDA expanded almost 58% year-on-year to 15 crores, and PAT improved to 6.18 crores.
- Current order book is over 180 crore with execution timelines between 1 to 5 years, including a confirmed packing contract order worth 75 crore for the next financial year.
What to watch
- Exports declined in H1 FY26 to 8.8 crores from over 20 crores in the previous year, primarily due to margin pressure and Chinese penetration in the Middle East.
- The working capital cycle is currently long at 120 days, with a target to reduce it to less than 45 days over the next three years.
What Krishca Strapp. does
Krishca Strapping Solutions manufactures high-tensile steel straps, steel seals and strapping tools at its Mappedu (Chennai) facility, alongside a broader range of primary packaging materials such as HDPE tarpaulins, dunnage airbags, PET straps, desiccants and VCI corrosion-protection coatings. It also operates on-site packaging contract services for steel producers including Tata Steel, JSW Steel, SAIL and Shyam Metalics. The company is now expanding into specialty steel through a Cold Rolling Complex under commissioning in Chennai and has approved a new subsidiary, Vajra Alloys, to enter the super-alloys and high-performance materials segment.
Segments
- Steel Strapping & Seals
- Packaging Contract Services
- Specialty Packaging Materials
- Specialty Steel (Cold Rolling Complex)
- Super Alloys (Vajra Alloys)
- Manufacturing facility
- 1 facility at Mappedu, Chennai, Tamil Nadu
- Installed production capacity
- 30,000 MTPA steel straps + 120 million strapping seals/annum
- Active packaging contracts
- 14 across India
- Clients served
- 200+
- Employees
- 450+
- International presence
- Subsidiaries in UAE & Singapore; exports to Middle East, South-East Asia and Africa
Guidance record · Q2 FY26
what the last two calls moved 7 tracked 0 delivered 0 missed 7 open- Operating/EBITDA Margin revised down said Q4 FY25 Promised: definitely minimum 15 we can maintain without compromising the current margin. Q2 FY26: Management revised long-term sustainable EBITDA guidance to '13 to 15%'
- Revenue Growth on track said Q4 FY25 Promised: revenue expected to grow by 25% in Financial Year '26. Q2 FY26: H1 FY26 revenue grew 45% YoY; management reiterated 'sticking to that minimum 25% year on year growth'
All 7 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q4 FY26: revenue up 147.4%, net profit down 37.5% against the same quarter last year.
| Line item | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|
| Revenue | 48 | 57 | 64 | 86 | 93 +94% | 141 +147% |
| EBITDA | 8 | 12 | 9 | 13 | 15 +88% | 14 +17% |
| Net profit | 6 | 8 | 5 | 6 | 6 +0% | 5 −37% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −29.2% 1Y
1Y: ₹221 on 10 Sept 2025 → ₹156.5. High ₹221 (10 Sept 2025), low ₹141.5 (30 Mar 2026).
How the price took the results
close before → close after
- Q2 FY26
- +3.5%
- 28 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹3 Cr | ₹5 Cr | ₹9 Cr | ₹12 Cr | ₹14 Cr | ₹15 Cr |
| Reserves | ₹-4 Cr | ₹-3 Cr | ₹2 Cr | ₹27 Cr | ₹95 Cr | ₹112 Cr |
| Borrowings | ₹13 Cr | ₹9 Cr | ₹12 Cr | ₹19 Cr | ₹83 Cr | ₹78 Cr |
| Other liabilities | ₹1 Cr | ₹4 Cr | ₹12 Cr | ₹21 Cr | ₹32 Cr | ₹67 Cr |
| Total liabilities | ₹13 Cr | ₹15 Cr | ₹35 Cr | ₹79 Cr | ₹224 Cr | ₹272 Cr |
| Fixed assets | ₹6 Cr | ₹4 Cr | ₹4 Cr | ₹5 Cr | ₹50 Cr | ₹49 Cr |
| Capital work in progress | ₹0 Cr | ₹1 Cr | ₹5 Cr | ₹20 Cr | ₹20 Cr | ₹88 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹3 Cr | ₹3 Cr |
| Other assets | ₹7 Cr | ₹10 Cr | ₹26 Cr | ₹53 Cr | ₹150 Cr | ₹131 Cr |
| Total assets | ₹13 Cr | ₹15 Cr | ₹35 Cr | ₹79 Cr | ₹224 Cr | ₹272 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Mar 2025, the public added +6.04 pp while promoters trimmed −4.09 pp. The shareholder count grew 12% to 2,844.
- Promoters
- 47.8%
- DIIs
- 0.4%
- Public
- 51.9%
Since Mar 2025
- Public +6.04 pp
- Promoters −4.09 pp
- DIIs −1.95 pp
How it drifted, 8 quarters
Over this window promoters fell from 86.3% to 47.8% — −38.6 pp.
Ownership split by quarter, oldest first. May '23: Promoters 86.3%, Public 13.7%.Sep '23: Promoters 62.6%, FIIs 0.8%, Public 36.6%.Mar '24: Promoters 62.6%, Public 37.4%.Sep '24: Promoters 51.9%, FIIs 0.0%, Public 48.1%.Mar '25: Promoters 51.9%, FIIs 0.0%, DIIs 2.3%, Public 45.8%.Sep '25: Promoters 51.9%, DIIs 2.4%, Public 45.8%.Mar '26: Promoters 52.7%, DIIs 1.8%, Public 45.5%.Jun '26: Promoters 47.8%, DIIs 0.4%, Public 51.9%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Kunal Khaneja newly disclosed 1.26% held
- Sachin Kasera +0.49 pp 1.88% held
The same filing shows 6 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Krishca Strapp. above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Lenin Krishnamoorthy Balamanikandan | 32.52% | −3.35 pp |
| Saraladevi N | 7.94% | −0.82 pp |
| Ramya S | 6.07% | −0.63 pp |
| Sachin Kasera | 1.88% | +0.49 pp |
| Rajiv Kumar | 1.70% | −0.17 pp |
| Debashish Neogi | 1.41% | unchanged |
| Kunal Khaneja | 1.26% | newly disclosed |
| Subburajan Lenin Krishnamoorthy | 0.68% | −0.07 pp |
| Lenin Krishnamoorthy Anthoniammal | 0.55% | −0.06 pp |
| Mavira Growth Opportunities Fund AIF | — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
- Growth the price implies
- 1.7% a year
- for 7 years, fading to 4%
- It has actually compounded at
- Not enough history
- The gap
- —
- between what it did and what it must do
All earnings calls (2)
Read the Q2 FY26 call →Learn to analyse Krishca Strapp.
Guides on how to read this kind of business and the numbers that matter.