Krystal Integrated Services Limited has informed the Exchange about Incorporation of Wholly Owned Subsidiaries.
KRYSTAL · price
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Krystal Integrated Services' board has approved the incorporation of three wholly owned subsidiaries — Krystal Waste Work Prabhag F, G, and C Private Limited — as Special Purpose Vehicles (SPVs) for the waste management business. Each SPV will have an authorised capital of Rs. 1 lakh, with KISL subscribing to 10,000 equity shares at Rs. 10 each (100% shareholding). The reason for setting up these SPVs is that the company has received Letters of Acceptance from Vasai Virar Municipal Corporation (dated 15 December 2025) for door-to-door waste collection, segregation, and transportation services across Prabhags F, G, and C for a 5-year period, and the contract required creating separate SPVs. Separately, Company Secretary Ms. Stuti Maru resigned for personal reasons, and Mr. Manishkumar Sangani has been appointed as the new Company Secretary and Compliance Officer effective 3 January 2026.
This is a positive operational development — the company has won municipal waste management contracts worth 5 years and is structuring them through dedicated SPVs, which helps isolate project risk and could improve operational efficiency. The financial outlay is minimal (Rs. 3 lakh total across three SPVs), so no material capital strain is expected. The Company Secretary change is routine and unlikely to affect the stock.