NSE: KRITIKA
KRITIKA WIRES LIMITED
Manufactures wire products within the Iron & Steel Products category of India's Capital Goods sector. FY26 revenue from operations was Rs 694.32 crore, with materials accounting for 92.1% of revenue and other operating expenses another 4.5%, consistent with a steel-input-heavy processing operation. EBITDA margin was 2.26% and net profit Rs 6.19 crore on total assets of Rs 176.66 crore. Profit before tax fell to Rs 733.90 lakh from Rs 1,480.24 lakh in FY25, described in the filings as a roughly 50% decline. The board approved a Rs 250 crore corporate guarantee to four banks for related party HM Power and Cables, while operating cash flow was negative after working capital adjustments. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Iron & Steel Products / Wires. Low-margin, materials-heavy wire processor with single-digit EBITDA margin
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 244 | 282 | 432 | 745 | 694 |
| EBITDA (ex other income) | 8 | 9 | 13 | 9 | 12 |
| margin % | 3.1 | 3.0 | 3.0 | 1.2 | 1.7 |
| Owners' profit | 0 | 6 | 10 | 10 | 6 |
| EPS, as reported (₹) | 2.27 | 0.67 | 0.39 | 0.38 | 0.23 |
| ROE % · ROCE % | — · — | 8.1 · 14.0 | 12.3 · 20.7 | 10.7 · 21.1 | 6.1 · 11.3 |
| Debt / equity (x) | — | 0.30 | 0.48 | 0.54 | 0.55 |
| Cash from operations | 17 | (5) | 14 | 7 | 19 |
| Capex | (1) | (3) | (10) | (8) | (3) |
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 | 159 | 179 | 239 | 207 | 180 | 161 | 147 | 162 |
| Profit before tax | 3 | 3 | 6 | 2 | 2 | 2 | 2 | 1 |
| Net profit | 2 | 2 | 3 | 1 | 1 | 2 | 2 | 2 |
| EPS (₹) | 0.09 | 0.08 | 0.13 | 0.05 | 0.04 | 0.06 | 0.08 | 0.06 |
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. % |
|---|---|---|---|---|---|---|---|---|
| WELSPUN CORP LIMITED | 67,533 | 29.2 | 7.18 | 28.8 | 17.2 | 14.9 | 21.1 | 18.5 |
| APL APOLLO TUBES LTD | 60,250 | 49.0 | 11.38 | 31.4 | 22.7 | 26.1 | 22.1 | 8.0 |
| SHYAM METALICS AND ENGY L | 31,861 | 28.4 | 2.58 | 12.9 | 8.6 | 11.4 | 24.1 | 14.9 |
| RATNAMANI MET & TUB LTD. | 16,161 | 37.3 | 3.84 | 18.9 | 12.7 | 15.6 | 14.4 | 18.5 |
| JINDAL SAW LIMITED | 15,396 | 23.5 | 1.25 | 8.5 | 7.5 | 6.8 | 10.9 | 9.4 |
| USHA MARTIN LTD. | 14,152 | 27.9 | 4.29 | 18.6 | 14.1 | 17.7 | 12.0 | 21.0 |
| GALLANTT ISPAT LIMITED | 13,005 | 29.9 | 3.92 | 17.3 | 14.6 | 16.8 | 34.4 | 17.8 |
| GODAWARI POW & ISP LTD | 12,751 | 14.9 | 2.18 | 9.7 | 13.7 | 17.0 | 5.7 | 21.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 21.9 | 15.4 | 64 of 105 | 39% |
| P/B | 1.4 | 1.5 | 49 of 101 | 52% |
| ROCE | 7.2 | 9.1 | 64 of 115 | 45% |
| ROE | 6.1 | 8.6 | 61 of 103 | 41% |
| Debt / Equity | 0.6 | 0.2 | 82 of 101 | 19% |
| EBITDA margin | 2.3 | 11.0 | 92 of 100 | 8% |
| Revenue growth | (21.8) | 13.7 | 81 of 97 | 17% |
| Profit growth | 16.3 | 29.3 | 63 of 105 | 40% |
| Market cap | 140 | 216 | 66 of 122 | 46% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 8 Oct 2026 · Quarterly demat certificate filed with NSE for Jul-Sep 2026 | compliance | minimal | — | — |
| 25 Sept 2026 · Trading window closure from Oct 1 for Q2 FY26 results | compliance | minimal | — | — |
| 4 Sept 2026 · June quarter profit rises 16 percent despite 22 percent revenue fall | results | high | — | — |
| 14 Aug 2026 · Kritika Wires 22nd AGM: all 8 resolutions passed | board shareholder meetings | low | — | — |
| 13 Aug 2026 · AGM 2026 voting results: all 8 resolutions passed | board shareholder meetings | low | — | — |
| 12 Aug 2026 · AGM proceedings: MD and directors re-appointed, corporate guarantee approved | management changes | medium | — | — |
| 12 Aug 2026 · Kritika Wires 22nd AGM: family directors re-appointed, corporate guarantee approved | management changes | medium | — | — |
| 5 Aug 2026 · Newspaper publication of Q1FY27 financial results filed with NSE | compliance | minimal | — | — |
| 4 Aug 2026 · Regulation 32 Deviation Statement Not Applicable for Q1 FY27 | compliance | minimal | — | — |
| 4 Aug 2026 · Kritika Wires Q1 FY27 results: Revenue down 22% YoY, PAT up 16% | results | high | — | — |
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.