Krystal FY26: 5% Revenue Growth, ₹1.50 Dividend, Citelum Deal & IPO Proceeds Update

Krystal Integrated Services has published a revised press release on its audited financial results for the quarter and full year ended March 31, 2026, in "Financial Express" (English) and "Mumbai Lakshadeep" (Marathi) newspapers on May 08, 2026, pursuant to Regulation 30 and Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board of Directors, at their meeting held on May 7, 2026, approved the results alongside a final dividend recommendation and the acquisition of Citelum India Private Limited. The statutory auditors issued an unmodified opinion on both the standalone and consolidated financial statements. CEO Mr. Sanjay Dighe noted that FY26 reflects steady progress in the company's transition towards a more resilient, margin-accretive business model, with 177+ new corporate clients added during the year and a combined multi-year new business value from these additions of over ₹300 crores. The company reported a robust order book of approximately ₹1,220 crores as of March 31, 2026. The audio recording of the conference call held on May 08, 2026, at 12:00 noon (IST) for the audited financial results has been made available on the company's website.

FY26 Consolidated Financial Performance

The company reported a year-on-year improvement in consolidated revenue and net profitability for the full year ended March 31, 2026. Consolidated revenue from operations grew to ₹1,277.28 crore from ₹1,212.78 crore in FY25, representing a 5.32% YoY increase, while consolidated net profit rose to ₹64.35 crore from ₹62.52 crore. EBITDA (excluding other income) grew 7.49% YoY to ₹83.53 crore in FY26 from ₹77.71 crore in FY25, with EBITDA margin improving by 13 bps to 6.54% from 6.41%. For Q4 FY26, revenue from operations stood at ₹364.94 crore compared to ₹413.10 crore in Q4 FY25, a decline of 11.66% YoY, attributed to the company's strategic decision to bid selectively for high-margin projects. Q4 FY26 net profit improved to ₹18.85 crore from ₹16.93 crore, up 11.31% YoY, with PAT margin expanding by 106 bps to 5.16%.

The following table summarises the key consolidated financial metrics:

Metric: Q4 FY26 Q4 FY25 YoY% Q3 FY26 QoQ% FY26 FY25 YoY% Income from operations (₹ Cr): 364.94 413.10 (11.66%) 305.86 19.32% 1,277.28 1,212.78 5.32% EBITDA* (₹ Cr): 23.78 26.75 (11.13%) 20.49 16.01% 83.53 77.71 7.49% EBITDA Margin (%): 6.51% 6.48% 3 bps 6.70% (19 bps) 6.54% 6.41% 13 bps Profit After Tax (₹ Cr): 18.85 16.93 11.31% 15.90 18.55% 64.35 62.52 2.94% PAT Margin (%): 5.16% 4.10% 106 bps 5.20% (4 bps) 5.04% 5.15% (11 bps) Basic EPS (₹): 13.49 12.12 11.31% 11.38 18.55% 45.94 44.61 2.99%

*EBITDA excluding Other Income

Key Business Developments

The company secured several significant orders and milestones during the period. It won a ~₹275 crore, 5-year work order from the Vasai Virar City Municipal Corporation for door-to-door collection, segregation, and transportation of municipal solid waste, including street cleaning and disposal in compliance with Solid Waste Management Rules, 2016 for 3 zones. Additionally, the company won a healthcare facility management mandate worth ~₹364 crore from Tamil Nadu Medical Services Corporation Ltd. for a period of 3 years. The company also incorporated a wholly owned subsidiary, Krystal Waste Work Prabhag G Private Limited, on January 20, 2026, to strengthen execution capabilities in the waste management segment. The company also secured its first solar order from DMER, marking its entry into the solar segment.

Development: Details Order Book (as of March 31, 2026): ~₹1,220 crores Municipal Waste Order: ~₹275 crore, 5-year order from Vasai Virar City Municipal Corporation Healthcare Mandate: ~₹364 crore, 3-year mandate from Tamil Nadu Medical Services Corporation Ltd. New Subsidiary: Krystal Waste Work Prabhag G Private Limited incorporated on January 20, 2026 New Clients Added: 177+ new corporate clients in FY26 New Sites Added: 255+ new sites across segments New Business Value: Over ₹300 crores (combined multi-year value from new corporate clients)

Final Dividend Recommendation

The Board of Directors has recommended a final dividend of ₹1.50 per equity share (i.e., 15%) of the face value of ₹10/- each for the financial year ended March 31, 2026. The dividend is subject to declaration by shareholders at the ensuing Annual General Meeting (AGM).

Acquisition of Citelum India Private Limited

The Board approved the acquisition of 100% equity shares of Citelum India Private Limited (CIPL) through a Share Purchase Agreement. Upon completion, CIPL will become a wholly owned subsidiary of the company. The consideration is cash amounting to ₹10,000 subject to adjustments. CIPL is engaged in urban infrastructure, smart city solutions, and street lighting, with a registered office in New Delhi. The acquisition is in line with the company's strategy to expand its presence in the urban infrastructure and smart city ecosystem.

Parameter: Details Target Company: Citelum India Private Limited (CIPL) Stake Acquired: 100% equity shares Transaction Mode: Share Purchase Agreement Cash Consideration: ₹10,000 (subject to adjustments) Post-Acquisition Status: Wholly owned subsidiary CIPL Business: Urban infrastructure, smart city solutions, street lighting Registered Office: New Delhi

IPO Proceeds Utilisation: CRISIL Monitoring Agency Report

Pursuant to Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Krystal Integrated Services submitted the Monitoring Agency Report for the quarter ended March 31, 2026, issued by CRISIL Ratings Limited. The report was reviewed by the Audit Committee and taken on record by the Board of Directors on May 11, 2026. The report confirms that no IPO proceeds were utilised during the reported quarter, as all net proceeds of Rs 1,633.69 million had been fully deployed in prior periods across the stated objects of the issue.

The following table details the utilisation status of IPO net proceeds across all objects as at the end of the quarter ended March 31, 2026:

Object of Issue: Amount as per Offer Document (Rs in million) Amount Utilised at End of Quarter (Rs in million) Unutilised Amount (Rs in million) Repayment/prepayment of certain borrowings: 100.00 100.00 0.00 Funding working capital requirements: 1,000.00 1,000.00 0.00 Capital expenditure for purchase of new machinery: 100.00 100.00 0.00 General Corporate Purposes (GCP): 433.69 433.69 0.00 Total: 1,633.69 1,633.69 0.00

CRISIL noted that Rs 199.47 million was earmarked for issue-related expenses, of which Rs 193.02 million has been utilised. The balance of Rs 6.45 million remains in the public offer account of the company. CRISIL has indicated it will continue to monitor the same until the balance in the account is fully utilised. The report confirmed no deviation from the objects stated in the Offer Document, no change in the means of finance, and no major deviation observed over earlier monitoring agency reports. The report was prepared on the basis of a peer-reviewed independent chartered accountant certificate dated April 09, 2026, issued by M/s Mahendra Doshi & Associates LLP (Firms' Registration No. 105765W/W101009).

Krystal Integrated Services Limited has informed stock exchanges about an upcoming board meeting scheduled for May 07, 2026, in compliance with SEBI listing regulations. The meeting will address critical financial matters for the financial year ended March 31, 2026. Following the results announcement, the company will also host an earnings conference call with analysts and investors on May 08, 2026.

Board Meeting Agenda

The board of directors will convene to deliberate on key matters during the scheduled meeting. The following table outlines the primary agenda items:

Agenda Item: Details Financial Results Review: Consider and approve audited consolidated and standalone financial results for Q4 and FY26 Dividend Recommendation: Evaluate final dividend proposal on equity shares for FY26 Shareholder Approval: Dividend recommendation subject to approval at 25th Annual General Meeting

The company has communicated this intimation to both BSE Limited and National Stock Exchange of India Limited, ensuring compliance with regulatory disclosure requirements under Regulation 29 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Analyst and Investor Conference Call

Pursuant to Regulation 30(6) read with Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Krystal Integrated Services will hold a conference call with analysts and investors on Friday, May 08, 2026 at 12:00 noon IST. The call will cover the operational and financial performance of the company for the quarter and financial year ended March 31, 2026. The earnings call details will also be available on the company's website at www.krystal-group.com .

The dial-in details for participants across geographies are as follows:

Location: Time Telephone Number India: 12:00 Noon IST +91 22 6280 1102 / +91 22 7115 8003 USA (Eastern Time - New York): 2:30 A.M. 1 866 746 2133 UK (GMT +1): 7:30 A.M. 0 808 101 1573 Singapore (GMT +8): 2:30 P.M. 800 101 2045 Hong Kong (GMT +8): 2:30 P.M. 800 964 448

The management participants for the earnings call will include Mr. Sanjay Suryakant Dighe, Chief Executive Officer and Whole Time Director, and Mr. Barun Dey, Chief Financial Officer. Interested participants may register via the Diamond Pass link available on the company's website. For RSVP and further assistance, participants may contact Mr. Chaitanya Satwe of Adfactors PR at +91 9833541841.

Trading Window Restrictions

In adherence to insider trading regulations, Krystal Integrated Services has implemented a trading window closure for designated persons. The restriction details are as follows:

Closure Start Date: April 01, 2026

Affected Parties: Promoters, directors, key managerial persons, designated persons and their immediate relatives

Closure Duration: Until 48 hours after financial results declaration

Regulatory Framework: SEBI Prohibition of Insider Trading Regulations, 2015

This trading window closure aligns with the company's internal code of fair disclosure and conduct procedures for monitoring insider trading activities.

Corporate Communication

The formal intimations were signed by Manishkumar Sangani, Company Secretary and Compliance Officer. The communications were addressed to the Department of Corporate Services at both major stock exchanges, maintaining transparency in corporate governance practices. The upcoming board meeting and subsequent analyst call represent significant milestones as the company prepares to present its annual financial performance and consider shareholder returns through potential dividend distribution.

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