Transcript for Q4 FY 2025-26 Earnings Conference Call
KRYSTAL · price
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Krystal Integrated Services reported Q4 FY '26 revenue of INR 364.94 crore (down ~12% YoY) as management consciously walked away from ~INR 180 crore of low-margin business as part of a profitability-first bidding strategy. Despite the revenue decline, PAT rose 11% YoY to INR 18.85 crore with PAT margin expanding 106 bps to 5.16%. For the full year FY '26, revenue stood at INR 1,277.28 crore (up 5.32% YoY) and PAT at INR 64.35 crore (up ~3% YoY). The Board also approved the 100% acquisition of Citelum India Private Limited, the Indian arm of France's EDF Group, marking Krystal's entry into smart lighting and urban infrastructure. Management guided for 20%+ revenue growth in FY '27, led by a rebalancing toward higher-margin corporate business and emerging verticals. The order book stands at ~INR 1,220 crore standalone and ~INR 2,500 crore on a consolidated basis.
The intentional revenue decline in Q4 reflects a disciplined shift away from low-margin government contracts toward corporate and higher-margin segments, which is structurally positive for long-term profitability. The Citelum acquisition adds a new growth vertical in smart city infrastructure, and the INR 2,500 crore consolidated order book provides strong revenue visibility for FY '27.