Submission of Earning Call Transcript dated 06.05.2026
KRITI · price
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Kriti Industries reported Q4 FY26 revenue of INR 142 crores (3% YoY growth) with EBITDA margins expanding sharply to 12.91% from 0.15% year-on-year, driven by inventory gains from falling PVC prices. Full year FY26 revenue declined 19% to INR 587 crores due to earlier challenges including heavy rains and geopolitical volatility affecting raw material prices. However, annual EBITDA improved 23% to INR 35 crores with margin expansion of 201 basis points to 5.94%. Management highlighted that building products offer superior margins (14-18%) compared to agriculture (8-10%) and will be the focus for growth. CAPEX is on hold pending review of first two quarters of FY27. The company aims to return to growth on a lower base but gave no specific volume or revenue guidance for FY27.
The sharp Q4 margin recovery is positive but full-year revenue decline and lack of concrete FY27 guidance suggest cautious near-term outlook. Focus on higher-margin building products and dealer network expansion in new territories could support margins, but execution in volatile PVC price environment remains key.