Pursuant to Regulation 30 read with Schedule III and Regulation 46 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the Transcript of Earnings ....
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Kranti Industries reported Q3 FY26 revenue of ₹22.87 crores, up 32.2% year-on-year, with EBITDA of ₹3.55 crores at ~15.5% margin and PAT of ~₹74 lakhs, a turnaround from a loss in the year-ago quarter. For 9M FY26, revenue grew 19.8% to ₹64.57 crores while EBITDA margins expanded sharply by 669 basis points to 16.7%, with PAT at ₹2.7 crores versus a loss previously. The company formally entered defence manufacturing, securing initial orders worth ~₹2 crores from Armoured Vehicles Nigam Limited, with a FY27 target of ₹12–15 crores from this segment. The new Plant 4 in Jaipur commenced commercial operations on January 1, 2026, with management guiding 70–80% utilisation by April. Management targets a stabilised EBITDA margin of 16–18%, ~20% revenue growth for the next two years, and aims to be net debt-free by 2030 against current debt of ~₹46 crores.
Strong revenue growth, meaningful margin expansion, and a credible entry into the structurally attractive defence segment improve the company's growth and earnings visibility. Clear debt-reduction guidance and capacity addition through a low-CAPEX brownfield expansion are positives for shareholders, though near-term margin trajectory depends on Plant 4 ramp-up and execution of defence orders.