Krystal Integrated Services Ltd

•

krystal-group.comBSE: 544149NSE: KRYSTAL

Market Cap₹ 871 Cr.

Current Price

High / Low₹ 696 / 500

Stock P/E14.7

Book Value₹ 360

Price to Book1.45

Dividend Yield0.24 %

ROCE15.2 %

ROE12.7 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2022 • Manpower Service: 84.3% • Smart City: 15.7%

AI Sector View

AI GENERATED

Services

Buy

Broad services remain in expansion. Services PMI was 54.1 (Aug/26), export of services grew 13.0% YoY (2026-06), and urban employment was still positive at 2.0% YoY (2026-07), although airport passenger traffic was -2.0% YoY (2026-06). FPI inflows of INR 7081 crore over 3 months to 2026-08-31 support the constructive sector view.

Confidence

72%

View full sector analysis →

PROS

Company has delivered good profit growth of 21.0% CAGR over last 5 years
Company has delivered good sales growth of 16.7% CAGR over last 5 years
Company maintains a comfortable, low leverage position
Attractively priced for its growth - PEG of 0.7

CONS

A large part of profit comes from other income (31.3% of PBT)
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.18x)
Operating cash flow has been negative in recent years
Equity base is being diluted - shares outstanding up 142.5%
Inventory has been piling up - inventory days up from 0 to 0
Though reporting repeated profits, the company pays out little dividend (3.6%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ServicesBusiness ServicesProfessional Services

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	URBANCO	164.50	0.00	25368.87	0.00	-921.20	-13373.78	5283.40	1338.56	-8.23	-18.44
2.	BLS	235.65	13.75	9702.67	1.06	201.62	11.41	890.53	25.33	36.54	28.34
3.	SIS	422.90	40.80	5977.53	1.66	101.66	9.37	4603.58	29.73	7.39	4.66
4.	QUESS	354.85	20.98	5300.96	3.10	82.12	61.07	4181.68	14.52	24.72	2.02
5.	BLSE	316.55	49.49	2876.06	0.32	18.63	6.30	304.09	24.63	18.67	6.98
6.	BLUSPRING	138.05	106.01	2063.88	0.00	-1.58	77.90	949.29	19.07	1.32	2.17
7.	TEAMLEASE	1251.75	12.92	1912.85	0.00	34.45	37.74	3034.69	4.96	16.22	1.05
8.	KAPSTON	584.95	58.37	1780.13	0.00	84.89	1284.83	2216.57	1062.33	13.16	6.56
9.	GCSL	614.80	54.51	1485.32	0.11	128.00	1240.31	375.21	70.67	21.85	46.76
10.	UDS	213.75	16.48	1431.13	0.00	30.28	4.47	764.29	9.15	9.99	5.54
11.	KRYSTAL	623.65	14.20	871.36	0.24	17.41	5.92	360.71	11.65	16.36	6.33
12.	INNOVISION	267.70	17.26	637.48	0.00	-73.55	-771.26	2638.15	948.03	37.59	-3.82

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	210	228	273	274	243	246	257	374	285	244	260	306	319
	196	211	255	256	227	230	240	349	266	228	242	286	305
Operating Profit	14	17	18	17	16	16	16	25	19	16	18	20	14
OPM %	6.86%	7.30%	6.68%	6.33%	6.48%	6.51%	6.40%	6.61%	6.62%	6.50%	6.74%	6.56%	4.24%
	1	3	2	3	5	4	4	5	5	5	5	6	5
Interest	3	3	3	3	3	2	2	3	3	3	4	4	4
Depreciation	2	2	2	2	2	2	2	2	3	3	3	3	3
Profit before Tax	11	15	15	15	16	16	16	24	17	14	16	19	19
Tax %	17.70%	19.66%	18.05%	2.31%	5.90%	7.33%	10.64%	33.62%	13.79%	14.54%	10.38%	12.08%	15.05%
Net Profit	9	12	12	15	15	14	14	16	15	12	14	17	16
	7.95	10.24	10.80	12.79	10.95	10.31	10.34	11.53	10.74	8.79	10.19	12.03	11.50

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	282	320	371	457	506	538	686	985	1,120	1,095	1,129
	256	295	343	414	468	499	628	922	1,053	1,021	1,062
Operating Profit	26	25	28	43	38	39	58	62	67	74	67
OPM %	9.27%	7.66%	7.57%	9.37%	7.46%	7.30%	8.45%	6.34%	5.98%	6.73%	5.93%
	2	1	2	3	3	2	3	12	24	21	22
Interest	5	5	5	8	9	10	18	12	10	17	16
Depreciation	4	2	3	3	3	4	4	7	8	11	11
Profit before Tax	19	19	22	35	28	27	39	56	72	67	68
Tax %	38.62%	27.79%	27.18%	29.24%	20.05%	23.18%	13.05%	14.15%	16.64%	12.66%	13.03%
Net Profit	12	14	16	25	22	21	34	48	60	58	59
EPS	0.00	0.00	0.00	43.21	39.02	22.58	33.15	34.52	43.10	41.75	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.35%	3.48%	3.59%	—

COMPOUNDED SALES GROWTH

10 Years:: 15%
5 Years:: 17%
3 Years:: 17%

COMPOUNDED PROFIT GROWTH

10 Years:: 18%
5 Years:: 21%
3 Years:: 20%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -6%

RETURN ON EQUITY

10 Years:: 18%
5 Years:: 16%
3 Years:: 15%
Last Year:: 13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	6	6	6	6	6	6	6	14	14	14
	60	74	90	115	137	155	155	358	417	473
	34	13	21	78	58	73	49	85	87	99
Trade Payables	6	10	11	57	36	48	14	46	42	42
	28	43	60	75	99	109	112	124	184	169
Total Liabilities	133	146	188	331	336	391	335	627	744	797
	10	12	12	10	10	11	77	80	99	103
	2	2	2	2	3	3	4	4	10	9
	1	1	1	2	2	6	0	0	1	1
	0	0	0	0	0	2	0	214	339	366
Cash & Bank	27	28	20	38	26	22	19	179	67	50
	94	104	153	279	295	347	235	150	229	268
Total Assets	133	146	188	331	336	391	335	627	744	797

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	15	37	25	2	28	22	82	-2	-33	6
Cash from Investing	-8	8	-39	-49	9	-10	-44	-111	-34	15
Cash from Financing	-5	-25	8	56	-28	-3	-28	191	-8	-5
	-6	12	-13	-1	0	-0	9	78	-76	15

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	69.96	69.96	69.96	69.96	69.96	69.96	69.96	69.96	69.96
	2.98	0.74	0.71	2.09	1.86	1.96	1.79	1.25	1.77
	5.66	5.11	5.02	3.78	4.20	4.23	4.23	3.76	3.76
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	21.39	24.20	24.30	24.17	23.98	23.85	24.02	25.03	24.51

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-01

Agreements

2026-09-01 - Krystal Integrated Services Limited has informed the Exchange about Agreements

2026-08-28

Copy of Newspaper Publication

2026-08-28 - Krystal Integrated Services Limited has informed the Exchange about Newspaper Publication - AGM Notice, Dividend and other related matters after sending Annual Report to shareholders

2026-08-27

Bagging/Receiving of orders/contracts

2026-08-27 - Krystal Integrated Services Limited has informed the Exchange about Bagging/Receiving of orders/contracts

2026-08-27

General Updates

2026-08-27 - Krystal Integrated Services Limited has informed the Exchange about General Updates - Communication to Shareholders under Regulation 36(1)(b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

2026-08-27

Shareholders meeting

2026-08-27 - Krystal Integrated Services Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 22, 2026

2026-08-24

Bagging/Receiving of orders/contracts

2026-08-24 - Krystal Integrated Services Limited has informed the Exchange about Bagging/Receiving of orders/contracts

2026-08-24

Rescission/termination(s)

2026-08-24 - Krystal Integrated Services Limited has informed the Exchange about Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

2026-08-20

Copy of Newspaper Publication

2026-08-20 - Krystal Integrated Services Limited has informed the Exchange about intimation regarding publication of Notice related to AGM, Dividend and other related matters

2026-08-18

Bagging/Receiving of orders/contracts

2026-08-18 - Krystal Integrated Services Limited has informed the Exchange about Bagging/Receiving of orders/contracts

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