NSE: KRYSTAL · BSE: 544149
KRYSTAL INTEGRATED SER L
Supplies integrated facility management services to corporate and government clients across India, with FY26 revenue of Rs 1,277.28 crore. The business is overwhelmingly a manpower and services play: the Manpower and Related Services segment accounted for 98.8% of FY26 segment revenue (Rs 1,081.84 crore), covering housekeeping, sanitation, facility operations, staffing and catering at client sites such as commercial offices, IT parks, metro systems, substations and welfare hostels. The Information Technology Enabled Services segment contributed the remaining 1.2% (Rs 12.91 crore). Revenue visibility is supported by a standalone order book of Rs 1,220 crore and a consolidated order book of Rs 2,600 crore as of March 31, 2026, with 177 new customers and 250+ new sites added during FY26 representing Rs 300 crore of multi-year new business value. Recent order wins include a Rs 33.05 crore housekeeping and facade cleaning contract for Mumbai Metro Line 4/4A and a Rs 27.64 crore cleaning and sanitation contract covering 563 BC welfare hostels across 13 districts in Andhra Pradesh. Employee costs are the dominant expense at 73.3% of revenue, with materials at 16.2%, reflecting the labour-intensive nature of the operations. The company has also entered smart lighting and urban infrastructure O&M through the 100% acquisition of Citelum India Private Limited (an EDF Group subsidiary). AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Manpower and Related Services (99%), Information Technology Enabled Services (1%). Asset-light, labour-intensive integrated facility management services with corporate and government clientele
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 1,027 | 1,213 | 1,277 |
| EBITDA (ex other income) | 69 | 78 | 84 |
| margin % | 6.7 | 6.4 | 6.5 |
| Owners' profit | 34 | 44 | 64 |
| EPS, as reported (₹) | 42.30 | 44.61 | 45.94 |
| ROE % · ROCE % | 13.0 · 18.0 | 14.3 · 19.1 | 12.9 · 17.6 |
| Debt / equity (x) | 0.22 | 0.19 | 0.22 |
| Cash from operations | 2 | (32) | 26 |
| Capex | (12) | (31) | (16) |
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 | 266 | 276 | 413 | 323 | 283 | 306 | 365 | 361 |
| Profit before tax | 16 | 17 | 26 | 19 | 16 | 18 | 22 | 21 |
| Net profit | 15 | 15 | 17 | 16 | 13 | 16 | 19 | 17 |
| EPS (₹) | 10.83 | 10.84 | 12.12 | 11.76 | 9.42 | 11.38 | 13.49 | 12.46 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Manpower and Related Services | 573 | 44.8 |
| Information Technology Enabled Services | 13 | 1.0 |
| Catering and Related services | 159 | 12.4 |
| Manpower & Related Services | 533 | 41.7 |
| Total, before eliminations | 1,278 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| INTL GEMOLOGICAL INST LTD | 16,876 | 27.7 | 11.34 | 16.2 | 47.8 | 58.1 | — | 64.6 |
| WEWORK INDIA MANAGEMENT L | 8,745 | 100.3 | 29.23 | 5.6 | 25.0 | 1.0 | — | 66.5 |
| NESCO LTD. | 7,045 | 16.9 | 2.35 | 11.9 | 13.8 | 14.8 | 26.2 | 68.9 |
| NIRLON LTD | 5,678 | 16.4 | 12.12 | — | 73.8 | 18.1 | — | 79.4 |
| SMARTWORKS COWORKING SP L | 5,302 | 190.2 | 9.99 | 4.5 | 2.0 | 0.3 | — | 65.8 |
| QUESS CORP LIMITED | 4,869 | 19.2 | 4.17 | 14.6 | 19.0 | 14.4 | 7.1 | 2.6 |
| INOX GREEN ENERGY SER LTD | 4,360 | 34.9 | 2.54 | 25.9 | 6.0 | 9.0 | — | 131.6 |
| INDIQUBE SPACES LIMITED | 3,549 | — | 6.89 | — | (20.7) | (2.5) | — | 67.3 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 12.3 | 13.0 | 37 of 79 | 54% |
| P/B | 1.6 | 1.3 | 55 of 95 | 43% |
| ROCE | 14.5 | 3.4 | 19 of 103 | 82% |
| ROE | 12.9 | 2.9 | 25 of 113 | 79% |
| Debt / Equity | 0.2 | 0.1 | 60 of 91 | 34% |
| EBITDA margin | 7.8 | 25.4 | 59 of 92 | 36% |
| Revenue growth | 11.7 | 16.2 | 52 of 91 | 43% |
| Profit growth | 5.9 | 5.2 | 54 of 110 | 51% |
| Market cap | 807 | 47 | 21 of 108 | 81% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Board meeting to approve September 2026 quarter and half-year results | results | low | — | — |
| 10 Oct 2026 · Krystal Integrated Services to add 10,000+ jobs across 25+ cities by March 2027 | business updates | medium | — | — |
| 9 Oct 2026 · Krystal Integrated bags Rs 26 cr railway housekeeping contract from SECR | business updates | medium | — | — |
| 6 Oct 2026 · Routine SEBI Regulation 74(5) compliance certificate filed for Q2 FY26 | compliance | minimal | — | — |
| 29 Sept 2026 · Krystal Integrated wins Rs 8.75 cr manpower contract from Kosol Energie | business updates | high | — | — |
| 29 Sept 2026 · New 1-year manpower work order worth Rs. 8.75 crore from Kosol Energie | business updates | medium | — | — |
| 28 Sept 2026 · Trading Window Closed for Q2 FY26 Results - Krystal Integrated Services | compliance | minimal | — | — |
| 24 Sept 2026 · Revised Scrutinizer Report for 25th AGM, only venue mention corrected | compliance | minimal | — | — |
| 23 Sept 2026 · 25th AGM results: 5 resolutions passed including Rs 1.50 dividend | board shareholder meetings | medium | — | — |
| 22 Sept 2026 · 25th AGM held on Sept 22, 2026; all 5 resolutions passed | board shareholder meetings | 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.