KRISHNADEF

Krishna Defence And Allied Industries share price & financials

Price
₹1,350.6
Market cap
₹1.6k Cr
Sector
Capital Goods
Calls analysed
3
Latest concall · Q4 FY26 · call held 22 May 2026

Krishna Defence Q4 FY26

Revenue ₹64.8 cr +42%EBITDA ₹16.1 cr +55%EBITDA Margin 24.8% Net Profit ₹12.8 cr +73%

What went well

  • Revenue for Q4 FY26 was INR 64.8 crores, showing an increase of 42.2% year-over-year.
  • Net profit for Q4 FY26 was INR 12.8 crores, showing a year-over-year increase of 72.9%.
  • FY26 Net Profit was INR 41.3 crores, showing an increase of 85.6% year-over-year.

What to watch

  • Experienced a 4-5 month 'pause' in order execution and inflow during FY26 due to 'Operation Sindoor' and government focus on immediate deployment, pushing orders to later quarters.
  • Acknowledged raw material price volatility (fuel, steel) as a global issue, leading to some uptake in costs, though management stated the impact on margins was 'not substantial.'
Read the full call →

What Krishna Defence And Allied Industries Limited does

Krishna Defence and Allied Industries (KDAIL) designs and manufactures specialised steel components for India's defence and shipbuilding sector — ship-building steel sections for naval hull construction, armoured steel profiles for military vehicles, special-alloy welding wire and electrodes, ballast bricks and space-heating devices — alongside a legacy dairy-equipment line (milk cans, bulk milk coolers, milking machines and a robotic milk-collection unit). It earns by supplying these engineered components to the Indian Navy, Indian Army, DRDO and shipyards such as Mazagon Dock, Cochin Shipyard, Goa Shipyard and Garden Reach Shipbuilders, and to L&T. The company has expanded into adjacent capability areas through joint ventures and stakes: ship/submarine design (Conceptia), RF-to-optical defence electronics (Waveoptix), and composite fire-resistant doors and hatches for naval platforms (JV with VABO Composite of the Netherlands), and is building India's largest autonomous underwater vehicle (AUV) with the Navy and DRDO.

Segments

  • Defence Products
  • Dairy Equipment
Manufacturing & R&D locations
5 — Kalol & Halol (manufacturing), Bengaluru (RF/optics R&D and cable assembly), Chennai (AUV integration & testing, upcoming), Mumbai (corporate office)
Bulb bar production capacity
4,000-4,500 tonnes/year installed (doubled from 2,000-2,500 tonnes)
Armoured steel profile variants offered
26 variants
Indigenised (import-substitution) products developed
12+
Engineering staff
28 engineers, average age 29
Key defence/shipbuilding clients
Indian Army, Indian Navy, DRDO, Cochin Shipyard, Mazagon Dock Shipbuilders, Hindustan Shipyard, Goa Shipyard, Garden Reach Shipbuilders & Engineers, Armoured Vehicles Nigam, L&T
Founded 1997Headquarters Mumbai, Maharashtra, India Company website

Guidance record · Q4 FY26

what the last two calls moved 12 tracked 1 delivered 3 missed 8 open
  • EBITDA Margin delivered said Q4 FY25 Promised: 18% to 20% as operational leverage kicks in Q4 FY26: Achieved 21.3% for the full year FY26, exceeding the guided range.
  • Capacity Utilization went quiet said Q4 FY25 Promised: Take utilization up to 80% from current 55-60% Q4 FY26: No specific update on the utilization percentage was provided. Management discussed capacity expansion and revenue potential of INR 400-500 Cr from current infrastructure, but the metric itself was not addressed.
  • VABO JV Production/Revenue delayed said Q4 FY25 Promised: Production coming out of JV this year (FY26) Q4 FY26: Management confirmed trial production has started and expects 'some traction in this financial year' (FY27), consistent with the previously delayed timeline.

All 12 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue down 14.7%, net profit up 33.3% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue94 52 46 68 48 −49%64 +23%65 +41%58 −15%
EBITDA14 6 10 13 9 −36%14 +133%16 +60%15 +15%
Net profit11 4 7 9 7 −36%10 +150%12 +71%12 +33%
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 +40.4% 1Y

₹0.8k₹1.0k₹1.2k₹1.4kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 17 Nov 2025Q4 FY26 — 22 May 2026

1Y: ₹758.7 on 10 Sept 2025 → ₹1,065.5. High ₹1,370.2 (22 Jun 2026), low ₹673.2 (18 Dec 2025).

How the price took the results

close before → close after

Q4 FY26
−5.2%
22 May
Q2 FY26
−4.2%
17 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.

Financials, as filed

Year endingFY26
Revenue₹245 Cr
Operating profit₹52 Cr
Operating margin21.2%
Interest₹0 Cr
Depreciation₹4 Cr
Net profit₹38 Cr
Net margin15.5%
Cash from operations₹86 Cr
Free cash flow₹66 Cr
ROCE31.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹4 Cr₹8 Cr₹11 Cr₹14 Cr₹15 Cr₹15 Cr
Reserves₹14 Cr₹16 Cr₹29 Cr₹93 Cr₹152 Cr₹175 Cr
Borrowings₹26 Cr₹23 Cr₹19 Cr₹9 Cr₹1 Cr₹2 Cr
Other liabilities₹13 Cr₹21 Cr₹25 Cr₹18 Cr₹23 Cr₹21 Cr
Total liabilities₹56 Cr₹68 Cr₹85 Cr₹133 Cr₹190 Cr₹214 Cr
Fixed assets₹10 Cr₹14 Cr₹12 Cr₹15 Cr₹22 Cr₹34 Cr
Capital work in progress₹3 Cr₹0 Cr₹2 Cr₹0 Cr₹4 Cr₹3 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹7 Cr₹7 Cr
Other assets₹43 Cr₹54 Cr₹70 Cr₹119 Cr₹158 Cr₹170 Cr
Total assets₹56 Cr₹68 Cr₹85 Cr₹133 Cr₹190 Cr₹214 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 Jun 2025, the public trimmed −2.60 pp while FIIs added +1.32 pp. The shareholder count grew 353% to 18,720.

Promoters
59.9%
FIIs
1.4%
DIIs
1.3%
Public
37.4%

Since Jun 2025

  • Public −2.60 pp
  • FIIs +1.32 pp
  • DIIs +1.32 pp

How it drifted, 12 quarters

Over this window promoters fell from 73.4% to 59.9% — −13.5 pp.

Sep '22Sep '24Jun '26

Ownership split by quarter, oldest first. Sep '22: Promoters 73.4%, FIIs 0.1%, Public 26.5%.Mar '23: Promoters 73.4%, Public 26.6%.Sep '23: Promoters 73.4%, DIIs 0.3%, Public 26.4%.Mar '24: Promoters 68.3%, Public 31.7%.May '24: Promoters 62.3%, Public 37.7%.Sep '24: Promoters 62.3%, FIIs 0.0%, Public 37.7%.Mar '25: Promoters 62.3%, FIIs 0.0%, Public 37.7%.Jun '25: Promoters 60.0%, FIIs 0.0%, Public 40.0%.Sep '25: Promoters 60.0%, FIIs 0.2%, DIIs 0.7%, Public 39.1%.Dec '25: Promoters 60.0%, FIIs 0.2%, DIIs 1.2%, Public 38.6%.Mar '26: Promoters 60.0%, FIIs 0.6%, DIIs 2.1%, Public 37.4%.Jun '26: Promoters 59.9%, FIIs 1.4%, DIIs 1.3%, Public 37.4%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Krishna Defence And Allied Industries Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Ankur Ashwin Shah 36.49%unchanged
Pallavi Ashwin Shah 11.61%unchanged
Krish Industries Private Limited 5.62%unchanged
Krish Commodities (India) Llp 3.93%unchanged
Preyal Ankur Shah 2.25%unchanged
Shalu Aggarwal 1.57%unchanged
Zyana Developers Llp 1.17%unchanged
Krish Ankur Shah 0.00%unchanged
Shah Innovators 0.00%unchanged
Hindustan Cables & Wires 0.00%unchanged
White Gold Technologies Llp 0.00%unchanged
Shah Engineering 0.00%unchanged

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
26.2% 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
Price today ₹1,065.5

Change the assumptions yourself →

All earnings calls (3)

Read the Q4 FY26 call →

Learn to analyse Krishna Defence And Allied Industries Limited

Guides on how to read this kind of business and the numbers that matter.