Investor Presentation on audited financial results
BLKASHYAP · price
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B. L. Kashyap and Sons Ltd posted Q4 FY26 consolidated revenue of ₹363.7 Cr with a gross margin of 17.69%, up from 12.60% in Q4 FY25. However, PAT turned negative at -₹12.52 Cr due to a ₹37.82 Cr exceptional item (₹20 Cr Right of Recompense + ₹17.82 Cr write-off of contract assets from arbitration settlement). Full-year FY26 consolidated revenue stood at ₹1,379 Cr with EBITDA margin of 7.41%, improving from 5.66% in FY25. The company has reduced fund-based debt from ~₹700 Cr to ~₹270 Cr, eliminated term loans, and now maintains only working capital and bank guarantee limits. Credit rating was upgraded to CRISIL BB-/Stable/A4. The order book stands at ₹5,296 Cr with ₹3,558 Cr of new orders secured during FY26.
The margin improvement trajectory and debt reduction are positive long-term signals, but the Q4 PAT loss due to one-time exceptional items may cause short-term share price pressure. The ₹5,296 Cr order book provides strong revenue visibility.