Manufactures PVC pipes and fittings from a base in Indore, selling into three end-uses — agriculture, building products, and industrial applications. FY26 revenue of ₹587 crore was down 19% YoY on a 13% drop in annual volumes, though Q4 FY26 saw a sequential recovery with agriculture and building products volumes growing 12% and 7% YoY respectively. Margins differ sharply by segment — building products carry 14–18% margins versus 8–10% for agriculture — and management has identified building products as the primary growth engine, with CPVC capacity expansion underway while OPVC is not on the agenda. Materials account for 81.1% of revenue, reflecting PVC resin as the key input; the government has temporarily withdrawn PVC import duties through July 2026 to cushion petrochemical price volatility. FY26 EBITDA margin came in at 5.94%, an improvement of 201 basis points YoY, though net profit was thin at ₹1 crore. The company has put further capex on hold and deferred its second manufacturing plant decision until after H1 FY27, while reiterating a ₹1,000 crore medium-term revenue ambition. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Agriculture, Building Products, Industrial. Cyclical, materials-heavy single-segment PVC pipes and fittings manufacturer with three end-use verticals.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 545 | 732 | 867 | 722 | 587 |
| EBITDA (ex other income) | 40 | (8) | 59 | 28 | 30 |
| margin % | 7.4 | (1.1) | 6.9 | 3.9 | 5.2 |
| Owners' profit | 20 | (23) | 0 | 0 | 1 |
| EPS, as reported (₹) | 4.02 | (4.64) | 4.42 | (0.84) | 0.21 |
| ROE % · ROCE % | 12.9 · 17.4 | (17.7) · (8.1) | 14.5 · 23.1 | (2.1) · 7.1 | 0.5 · 6.7 |
| Debt / equity (x) | 0.62 | 0.90 | 0.83 | 0.49 | 0.41 |
| Cash from operations | 4 | 27 | 58 | 34 | 20 |
| Capex | (18) | (30) | (40) | (31) | (34) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 117 | 210 | 138 | 224 | 86 | 136 | 142 | 173 |
| Profit before tax | (3) | (10) | (9) | 7 | (11) | (3) | 9 | (3) |
| Net profit | (4) | (11) | (4) | 7 | (10) | (0) | 4 | (2) |
| EPS (₹) | (0.72) | (2.20) | (0.72) | 1.41 | (1.84) | (0.09) | 0.76 | (0.42) |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 9 Sept 2026 · AGM Minutes Submitted - All 4 Resolutions Passed with Over 99.9 Percent Majority | compliance | minimal | — | — |
| 28 Aug 2026 · NSE seeks clarification from Kriti Industries on Q1 FY27 results | regulatory legal | high | — | — |
| 14 Aug 2026 · AGM 2026 voting results: All 4 resolutions passed with over 99.99% approval | compliance | minimal | — | — |
| 13 Aug 2026 · Newspaper publication of Q1 FY27 financial results | compliance | minimal | — | — |
| 12 Aug 2026 · Kriti Industries submits proceedings of 36th AGM held August 12, 2026 | board shareholder meetings | low | — | — |
| 11 Aug 2026 · Q1 FY26-27 Results: Revenue down 22.7% YoY, swings to net loss | results | high | — | — |
| 11 Aug 2026 · Kriti Industries grants 1 lakh ESOPs to employees under ESOP Plan 2024 | capital market events | medium | — | — |
| 11 Aug 2026 · Kriti Industries appoints Pradeep Vedula as new CEO effective 11 Aug 2026 | management changes | high | — | — |
| 11 Aug 2026 · Q1 FY27 results approved; 1 lakh ESOPs granted | board shareholder meetings | low | — | — |
| 11 Aug 2026 · Kriti Industries Q1FY27 results: revenue down 22.7%, swings to net loss | results | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
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| an event is a fact; a rating is an opinion that requires SEBI RA registration |
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