BSE: 530689
KROWNIQ LIMITED
Trades and distributes fast-moving consumer goods and tea in India, with the latest segment breakdown (period ending March 2021) showing FMCG at 95.8% of segment revenue and Tea at 4.2%. The FMCG line generated Rs 84.47 crore of revenue with an EBIT of Rs 1.06 crore in that period, while Tea generated Rs 3.67 crore at a small operating loss. On a consolidated basis in FY26, the company reported Rs 392.75 crore of revenue and a 3.47% EBITDA margin, with other operating expenses at 7.3% of revenue and employee cost at 2.2%. The cost stack is unusually light, with no materials cost and negligible capex, consistent with a trading and distribution model. Shareholders approved a strategic pivot in July 2026, shifting the main objects clause away from tea and agriculture toward FMCG, plastic goods, packaging, construction materials, direct selling, and trading, alongside a corporate rebrand. The company has also incorporated three wholly-owned subsidiaries in 2026 and is seeking approval to raise its borrowing limit to Rs 100 crore. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. FMCG (96%), Tea (4%). Light-asset trading and distribution with thin margins
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 329 | 454 | 404 | 297 | 393 |
| EBITDA (ex other income) | 0 | 25 | 9 | 7 | 10 |
| margin % | 0.1 | 5.5 | 2.3 | 2.2 | 2.5 |
| Owners' profit | 2 | 16 | 4 | 3 | 7 |
| EPS, as reported (₹) | 1.25 | 8.12 | 2.00 | 0.35 | 3.34 |
| ROE % · ROCE % | 24.7 · 36.6 | 57.1 · 81.5 | 12.3 · 31.7 | 7.7 · 25.1 | 15.9 · 29.7 |
| Debt / equity (x) | 9.55 | 5.02 | 2.69 | 1.17 | 2.58 |
| Cash from operations | (64) | (23) | 66 | 57 | (32) |
| Capex | (0) | (0) | (1) | (0) | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 73 | 84 | 79 | 61 | 67 | 90 | 91 | 145 |
| Profit before tax | 1 | 1 | 2 | 0 | (0) | 3 | 2 | 4 |
| Net profit | 1 | 1 | 2 | (1) | (0) | 3 | 2 | 2 |
| EPS (₹) | 0.43 | 0.47 | 0.80 | 0.35 | 0.24 | 1.55 | 1.02 | 1.01 |
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. % |
|---|---|---|---|---|---|---|---|---|
| REDINGTON LIMITED | 28,026 | 16.5 | 2.69 | 13.1 | 12.3 | 15.7 | 15.9 | 2.2 |
| MMTC LIMITED | 7,680 | 17.2 | 3.62 | 16.4 | 18.3 | 21.6 | (83.7) | 18426.5 |
| MSTC LIMITED | 3,932 | 16.8 | 4.35 | 11.5 | 24.2 | 31.8 | (13.9) | 86.5 |
| CREATIVE NEWTECH LIMITED | 1,637 | 25.1 | 4.23 | 18.8 | 18.1 | 21.0 | — | 5.2 |
| Pervasive Commodities Limited | 1,125 | — | 12.51 | — | (0.0) | (0.0) | — | 45.0 |
| The Yamuna Syndicate Ltd | 737 | 8.1 | 0.57 | 185.4 | 4.0 | 0.3 | 4.8 | 6.2 |
| SHIV AUM STEELS LIMITED | 734 | 64.6 | 6.08 | 46.9 | 6.0 | 6.9 | — | 4.9 |
| THE STATE TRADING CORPN | 601 | 0.9 | — | 50.9 | — | — | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 11.4 | 14.3 | 54 of 130 | 59% |
| P/B | 2.1 | 0.9 | 105 of 150 | 30% |
| ROCE | 19.9 | 2.1 | 17 of 177 | 91% |
| ROE | 15.9 | 2.3 | 20 of 158 | 88% |
| Debt / Equity | 2.6 | 0.1 | 145 of 154 | 6% |
| EBITDA margin | 3.6 | 4.5 | 77 of 137 | 44% |
| Revenue growth | 136.7 | (8.6) | 23 of 135 | 84% |
| Profit growth | 385.1 | 0.6 | 15 of 157 | 91% |
| Market cap | 86 | 21 | 39 of 179 | 79% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 8 Oct 2026 · Krowniq files quarterly demat confirmation certificate for Q2 FY27 | compliance | minimal | — | — |
| 29 Sept 2026 · Trading window closed from Oct 1 ahead of Q2 FY26 results | compliance | minimal | — | — |
| 28 Sept 2026 · CFO and Company Secretary resign at Krowniq Limited | management changes | high | — | — |
| 28 Sept 2026 · CFO and Company Secretary resign at Krowniq Limited | management changes | high | — | — |
| 12 Aug 2026 · Q1 FY27 unaudited results published in newspapers | compliance | minimal | — | — |
| 11 Aug 2026 · Krowniq Q1 FY27: Revenue up 122% YoY, swings to Rs 3.83 cr profit | results | high | — | — |
| 11 Aug 2026 · Q1 FY27: Standalone revenue up 122% YoY to Rs 99.4 cr; PAT turns positive | results | high | — | — |
| 6 Aug 2026 · Initial capital subscription completed in two wholly-owned subsidiaries | strategic transactions | low | — | — |
| 4 Aug 2026 · Board meeting on Aug 11 to approve Q1 FY27 unaudited results | results | low | — | — |
| 31 Jul 2026 · Krowniq invests Rs 1 lakh in wholly-owned arm Tidagela Industries | strategic transactions | 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.