BSE: 542459
Kranti Industries Limited
Machined precision engineering components for the automotive industry, with FY26 consolidated revenue of ₹100.45 crore — the first time crossing the ₹100 crore mark. Tractor components are the largest disclosed stream at 64.7% of revenue, followed by electric vehicle components at 15.4% (customers include Kalyani Techno Forge, Dana and Eka Mobility) and new product development at 11.5%. A fourth manufacturing facility was commissioned in Jaipur on January 1, 2026, adding over 35,000 sq. ft. of machining capacity with 45 machines taken on lease; the Pune facility runs at ~65% utilisation against an 80-85% optimum. The business entered defence manufacturing in FY26 via ~₹204 lakh of purchase orders from Armoured Vehicles Nigam Limited (AVNL), with a stated FY27 target of ₹12-15 crore from this vertical. Raw materials are the dominant input cost at 60.7% of revenue, followed by employee costs at 15.8% and other operating expenses at 16.4%. Standalone EBITDA margin stood at 13.3% in FY26, expanding from 10.5% the year before. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Tractor components (65%), Electric vehicle components (15%), New product development (12%), Defence manufacturing. Small-cap, asset-light precision engineering and machining business transitioning from tractor concentration to diversified auto, EV, defence and industrial segments
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 94 | 93 | 90 | 78 | 100 |
| EBITDA (ex other income) | 9 | 9 | 9 | 6 | 13 |
| margin % | 9.7 | 10.1 | 9.9 | 7.2 | 12.5 |
| Owners' profit | 2 | 5 | 1 | (2) | 2 |
| EPS, as reported (₹) | 2.11 | 4.94 | 0.06 | 2.55 | 1.80 |
| ROE % · ROCE % | 10.0 · 14.0 | 19.0 · 19.7 | 0.2 · 4.5 | (7.6) · (0.7) | 3.5 · 9.0 |
| Debt / equity (x) | 1.08 | 1.08 | 1.14 | 1.10 | 1.09 |
| Cash from operations | 9 | 6 | (1) | 2 | 5 |
| Capex | (6) | (12) | (7) | (13) | (13) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 19 | 18 | 21 | 22 | 23 | 25 | 30 | 25 |
| Profit before tax | (1) | (2) | (0) | 1 | 2 | 1 | (1) | (0) |
| Net profit | (1) | (1) | 0 | 1 | 1 | 0 | (0) | (0) |
| EPS (₹) | (0.76) | (1.14) | 5.30 | 0.85 | 2.23 | 0.05 | 0.37 | (0.07) |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SAMVRDHNA MTHRSN INTL LTD | 1,69,176 | 38.6 | 3.87 | 15.1 | 9.4 | 8.2 | 17.1 | 9.0 |
| BOSCH LIMITED | 1,39,756 | 59.1 | 9.41 | 34.3 | 18.7 | 24.1 | 15.6 | 17.9 |
| BHARAT FORGE LTD | 83,937 | 118.9 | 8.78 | 30.3 | 11.4 | 13.2 | 21.6 | 8.8 |
| UNO MINDA LIMITED | 63,520 | 52.8 | 8.75 | 29.1 | 17.7 | 15.7 | 25.3 | 10.4 |
| SCHAEFFLER INDIA LIMITED | 56,735 | 45.3 | 9.23 | — | 10.4 | 14.1 | — | 19.4 |
| SONA BLW PRECISION FRGS L | 54,705 | 78.5 | 8.92 | 47.5 | 10.3 | 12.9 | — | 25.1 |
| TUBE INVEST OF INDIA LTD | 41,237 | 67.9 | 2.90 | 15.9 | 7.9 | 12.4 | 30.3 | 10.6 |
| ENDURANCE TECHNO. LTD. | 32,484 | 33.5 | 4.75 | 15.9 | 13.9 | 15.6 | 17.4 | 13.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 19.6 | 25.3 | 41 of 119 | 66% |
| P/B | 1.5 | 3.2 | 22 of 117 | 82% |
| ROCE | 2.9 | 12.6 | 108 of 125 | 14% |
| ROE | 3.5 | 11.7 | 97 of 117 | 17% |
| Debt / Equity | 1.1 | 0.3 | 107 of 117 | 9% |
| EBITDA margin | 12.1 | 12.2 | 60 of 118 | 50% |
| Revenue growth | 15.5 | 20.2 | 76 of 113 | 33% |
| Profit growth | (115.2) | 24.4 | 107 of 115 | 7% |
| Market cap | 64 | 1460 | 115 of 126 | 9% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Kranti Industries wins Best MSME Manufacturing Company 2026 award | business updates | low | — | — |
| 7 Oct 2026 · RTA confirmation on dematerialisation of securities for Q2 FY26 | compliance | minimal | — | — |
| 30 Sept 2026 · 31st AGM: All 7 resolutions passed with 100% votes in favor | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 read with Schedule III and relevant amendments thereto, please find attached herewith .... | board shareholder meetings | low | — | — |
| 4 Sept 2026 · SBI SARFAESI Notice to Kranti Industries Over Associate's Loan Default | regulatory legal | high | — | — |
| 2 Sept 2026 · Newspaper publication of 31st AGM notice, e-voting and book closure details | compliance | minimal | — | — |
| 2 Sept 2026 · Book Closure for 31st AGM from Sept 22 to Sept 28, 2026 | compliance | minimal | — | — |
| 2 Sept 2026 · Kranti Industries submits 31st Annual Report for FY 2025-26 | compliance | minimal | — | — |
| 2 Sept 2026 · 31st AGM of Kranti Industries on Sept 28 - borrowing limit and director remuneration | board shareholder meetings | low | — | — |
| 29 Aug 2026 · Board approves remuneration revision, borrowing powers and AGM notice | management changes | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.