KRITI

Kriti Industries (India) financials

Market cap
₹324 Cr
Sector
Capital Goods
Calls analysed
6
Latest concall · Q4 FY26 · call held 06 May 2026

Kriti Industries Q4 FY26

Revenue ₹142 cr +3%EBITDA ₹18 cr EBITDA Margin 12.91% Net Profit ₹4 cr

What went well

  • Q4 FY26 revenue of INR 142 crores, up 3% YoY.
  • Q4 FY26 EBITDA of INR 18 crores, a significant improvement from INR 20 lakhs in the same period last year.
  • Q4 FY26 EBITDA margins expanded by 1276 bps to 12.91%.

What to watch

  • Full year FY26 revenue declined 19% YoY to INR 587 crores.
  • Overall FY26 sales volume declined 13% to 58,630 metric tons.
Read the full call →

What Kriti Industries (India) Limited does

Kriti Industries manufactures polymer piping products - PVC and PE pipes, fittings and irrigation systems - across four segments: Agriculture, Industrial Solutions, Building Products and Micro-Irrigation, sold mainly under its 'Kasta' brand. It operates what it describes as India's largest single-location integrated polymer pipe manufacturing plant, at Pithampur, Madhya Pradesh, equipped with dedicated extrusion and injection-moulding lines. Products range from RPVC agricultural and bore-well casing pipes to CPVC/UPVC building pipes, HDPE telecom ducts, gas pipes, and drip/sprinkler micro-irrigation systems, distributed through a dealer network spread across multiple Indian states, concentrated in central, western and southern India.

Segments

  • Agriculture
  • Industrial Solutions
  • Building Products
  • Micro-Irrigation
Manufacturing facility
1 (single-location integrated polymer-pipe plant at Pithampur, Madhya Pradesh)
Total installed capacity
1,49,400 TPA
Segment-wise installed capacity
Agriculture 1,01,960 MTPA; Industrial Solutions 26,575 MTPA; Building Products 6,645 MTPA; Micro-Irrigation 2,700 MTPA
Extrusion lines (PVC pipes)
25
Extrusion lines (HDPE & drip)
16
Injection moulding machines
30
Founded 1982Headquarters Indore, Madhya Pradesh, IndiaEmployees 599 (FY25) Company website

Guidance record · Q4 FY26

what the last two calls moved 9 tracked 3 delivered 2 missed 4 open
  • EBITDA Margin delivered said Q3 FY25 Promised: Improvement, aiming for industry levels (16-20%) over time from coming year (FY26) Q4 FY26: Actual Q4 margin 12.91%, exceeding the 'closer to 10%' near-term target.
  • Building Products Volume Growth missed said Q3 FY25 Promised: Faster than current, potentially double the rate (was 30% YoY) Q4 FY26: Actual Q4 volume growth was 7%, below the revised 10% target.
  • Industrial Segment Exposure delivered said Q3 FY25 Promised: Limited exposure, not aggressive Q4 FY26: Continued execution with a 65% YoY volume decline and reduced institutional sales, aligning with strategy.

All 9 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue down 22.7%, net profit down 130.4% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue117 210 138 224 86 −27%136 −35%142 +3%173 −23%
EBITDA5 -1 0 15 -4 −179%6 +505%18 +7870%5 −65%
Net profit-4 -11 -4 7 -10 −172%-0 +96%4 +210%-2 −130%
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 −54.5% 1Y

₹60₹80₹100₹120₹140₹160Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 11 Nov 2025Q3 FY26 — 10 Feb 2026Q4 FY26 — 6 May 2026

1Y: ₹134.81 on 10 Sept 2025 → ₹61.4. High ₹152.9 (19 Sept 2025), low ₹54.68 (24 Mar 2026).

How the price took the results

close before → close after

Q4 FY26
−2.3%
6 May
Q3 FY26
+1.1%
10 Feb
Q2 FY26
−3.8%
11 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

Revenue fell 7.1% a year over 3 years, FY23 to FY26. Operating margin widened to 5.9%.

Year endingFY23FY24FY25FY26
Revenue₹732 Cr₹867 Cr₹722 Cr₹587 Cr
Operating profit₹-8 Cr₹59 Cr₹28 Cr₹35 Cr
Operating margin-1.1%6.9%3.9%5.9%
Interest₹17 Cr₹20 Cr₹23 Cr₹15 Cr
Depreciation₹9 Cr₹12 Cr₹14 Cr₹17 Cr
Net profit₹-23 Cr₹22 Cr₹-4 Cr₹1 Cr
Net margin-3.1%2.5%-0.6%0.2%
Cash from operations₹27 Cr₹58 Cr₹34 Cr₹20 Cr
Free cash flow₹-1 Cr₹18 Cr₹3 Cr₹-14 Cr
ROCE-6.0%19.0%6.0%7.0%
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₹5 Cr₹5 Cr₹5 Cr₹5 Cr₹5 Cr₹5 Cr
Reserves₹129 Cr₹149 Cr₹125 Cr₹147 Cr₹213 Cr₹217 Cr
Borrowings₹81 Cr₹99 Cr₹120 Cr₹128 Cr₹101 Cr₹91 Cr
Other liabilities₹150 Cr₹156 Cr₹161 Cr₹174 Cr₹103 Cr₹170 Cr
Total liabilities₹365 Cr₹409 Cr₹411 Cr₹454 Cr₹421 Cr₹483 Cr
Fixed assets₹100 Cr₹106 Cr₹124 Cr₹155 Cr₹177 Cr₹195 Cr
Capital work in progress₹8 Cr₹14 Cr₹17 Cr₹13 Cr₹17 Cr₹8 Cr
Investments₹0 Cr₹0 Cr₹3 Cr₹4 Cr₹4 Cr₹0 Cr
Other assets₹256 Cr₹290 Cr₹268 Cr₹281 Cr₹224 Cr₹280 Cr
Total assets₹365 Cr₹409 Cr₹411 Cr₹454 Cr₹421 Cr₹483 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, promoters added +0.36 pp while the public trimmed −0.33 pp. The shareholder count shrank 5% to 11,353.

Promoters
69.1%
FIIs
0.1%
Public
30.9%

Since Jun 2025

  • Promoters +0.36 pp
  • Public −0.33 pp
  • FIIs −0.04 pp

How it drifted, 12 quarters

Over this window the public fell from 33.6% to 30.9% — −2.8 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 66.3%, FIIs 0.0%, Public 33.6%.Dec '23: Promoters 66.3%, FIIs 0.1%, Public 33.5%.Mar '24: Promoters 66.3%, FIIs 0.0%, Public 33.6%.Jun '24: Promoters 66.8%, FIIs 0.5%, Public 32.8%.Sep '24: Promoters 66.8%, FIIs 0.0%, Public 33.2%.Dec '24: Promoters 66.8%, FIIs 0.0%, Public 33.2%.Mar '25: Promoters 67.8%, FIIs 0.1%, Public 32.2%.Jun '25: Promoters 68.7%, FIIs 0.1%, Public 31.2%.Sep '25: Promoters 68.7%, FIIs 0.1%, Public 31.2%.Dec '25: Promoters 68.7%, FIIs 0.1%, Public 31.2%.Mar '26: Promoters 69.1%, FIIs 0.1%, Public 30.8%.Jun '26: Promoters 69.1%, FIIs 0.1%, Public 30.9%.

Who was buying across the market this quarter →

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.

The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Kriti Industries (India) Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Sakam Trading Private Limited 57.83%unchanged
Kriti Nutrients Ltd 6.24%unchanged
Shiv Singh Mehta 3.92%unchanged
Chartered Finance & Leasing Limited 3.18%+0.06 pp
Investor Education and Protection Fund (IEPF) 2.57%−0.06 pp
Jyoti Kasliwal 1.59%unchanged
Nandita Kasliwal 1.29%unchanged
Juhi Singhvi 1.18%unchanged
Purnima Mehta 0.94%unchanged
Devki Mehta 0.07%unchanged
Saurabh Mehta 0.06%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.

All earnings calls (6)

Read the Q4 FY26 call →

Learn to analyse Kriti Industries (India) Limited

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