NSE: KROSS · BSE: 544253
KROSS LIMITED
Makes automotive components — axles, axle beams, suspensions, trailer parts, and hydraulic tipping jacks — for commercial vehicles, tractors and trailer fabricators in India. Two revenue streams in Q1 FY27: trailers/axles/suspensions/tipping products at 41% of revenue and other components at 59%. FY26 revenue was ₹673.2 crore; Q1 FY27 posted ₹185.35 crore (+32% YoY) and FY26 EBITDA margin was 13.7%. Operates axle capacity of 7,500 units per month and tipping jack capacity of 800 units per month; exports to European tier-1 customers grew 45% YoY and currently sit at ~4–4.5% of revenue. Backward integration is the focus — commissioned an axle beam extrusion line, is building a seamless tube plant (commissioning Q4 FY27, ₹167 crore investment), and is adding a high-pressure mould line that will double foundry capacity. Main cost is raw materials at 54.1% of FY26 revenue; FY26 capex was 14.8% of revenue and FY27 capex is guided at ₹120–125 crore. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Trailers, axles, suspensions & tipping (41%), Components (59%). Cyclical auto-components supplier to commercial vehicles and trailers; in active capacity-expansion mode
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY25 | FY26 |
|---|---|---|
| Revenue | 620 | 673 |
| EBITDA (ex other income) | 81 | 88 |
| margin % | 13.1 | 13.1 |
| Owners' profit | 48 | 55 |
| EPS, as reported (₹) | 8.04 | 8.56 |
| ROE % · ROCE % | 11.1 · 17.6 | 11.3 · 15.5 |
| Debt / equity (x) | 0.08 | 0.11 |
| Cash from operations | (32) | 28 |
| Capex | (27) | (100) |
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 | 139 | 150 | 185 | 139 | 131 | 177 | 225 | 184 |
| Profit before tax | 13 | 18 | 25 | 14 | 12 | 19 | 30 | 18 |
| Net profit | 10 | 14 | 17 | 11 | 8 | 14 | 22 | 13 |
| EPS (₹) | 1.89 | 3.25 | 2.66 | 1.66 | 1.25 | 2.17 | 3.48 | 2.06 |
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. % |
|---|---|---|---|---|---|---|---|---|
| SAMVRDHNA MTHRSN INTL LTD | 1,66,707 | 38.1 | 3.82 | 14.8 | 9.4 | 8.2 | 17.1 | 9.0 |
| BOSCH LIMITED | 1,34,520 | 56.9 | 9.06 | 33.0 | 18.7 | 24.1 | 15.6 | 17.9 |
| BHARAT FORGE LTD | 84,295 | 119.4 | 8.82 | 30.4 | 11.4 | 13.2 | 21.6 | 8.8 |
| UNO MINDA LIMITED | 62,653 | 52.0 | 8.63 | 28.8 | 17.7 | 15.7 | 25.3 | 10.4 |
| SCHAEFFLER INDIA LIMITED | 57,518 | 45.9 | 9.36 | — | 10.4 | 14.1 | — | 19.4 |
| SONA BLW PRECISION FRGS L | 52,988 | 76.1 | 8.64 | 46.0 | 10.3 | 12.9 | — | 25.1 |
| TUBE INVEST OF INDIA LTD | 40,753 | 67.2 | 2.87 | 15.8 | 7.9 | 12.4 | 30.3 | 10.6 |
| ENDURANCE TECHNO. LTD. | 32,042 | 33.0 | 4.68 | 15.7 | 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) | 32.5 | 25.0 | 73 of 119 | 39% |
| P/B | 3.8 | 3.3 | 71 of 117 | 40% |
| ROCE | 14.0 | 12.6 | 54 of 125 | 57% |
| ROE | 11.3 | 11.7 | 63 of 117 | 47% |
| Debt / Equity | 0.1 | 0.3 | 42 of 117 | 65% |
| EBITDA margin | 12.4 | 12.2 | 57 of 118 | 52% |
| Revenue growth | 32.3 | 20.2 | 25 of 113 | 79% |
| Profit growth | 24.4 | 24.4 | 58 of 115 | 50% |
| Market cap | 1877 | 1455 | 58 of 126 | 54% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 22 Oct 2026 · Q2 revenue rises 80%; capacity gains and cost pressures shape outlook | investor communications | medium | — | — |
| 19 Oct 2026 · Audio recording of Oct 19 earnings call uploaded | investor communications | low | — | — |
| 18 Oct 2026 · Newspaper publication of Q2 and H1 FY27 unaudited financial results | compliance | minimal | — | — |
| 17 Oct 2026 · Q2 FY27 results - Revenue up 79.6%, PAT up 143.5% YoY | results | high | — | — |
| 17 Oct 2026 · Kross Q2 FY27 revenue rises 79.6% to 235 cr; PAT up 143.5% | investor communications | medium | — | — |
| 17 Oct 2026 · Kross Limited Q2 FY26 Results: Revenue up 80%, PAT up 143% YoY | results | high | — | — |
| 17 Oct 2026 · Kross Q2 FY26-27: revenue up 80%, PAT up 143% YoY | results | high | — | — |
| 14 Oct 2026 · Kross Limited Q2FY27 earnings call on 19 Oct 2026 at 3 PM | board shareholder meetings | low | — | — |
| 13 Oct 2026 · Board meeting on 17 Oct to consider Q2 and H1 FY26 unaudited results | results | low | — | — |
| 6 Oct 2026 · Analyst/Institutional Investor Plant Visit on 8th October 2026 | board shareholder meetings | low | — | — |
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.