Total Sales Volume (Q4)
13,577 MT
+12% YoY (agri)
Agriculture segment grew 12% YoY to 10,288 MT; building products grew 7% to 2,683 MT.
KRITI
Other
15 May 2026
Kriti Industries Limited — Q4 FY26
Kriti Industries reported a mixed Q4 FY26 with revenue of INR 142 Cr (+3% YoY) and a sharp EBITDA margin expansion to 12.91% (+1276 bps YoY), driven by inventory gains from falling PVC prices and a low base.
✓ Verified against BSE filing
2-Min Summary
Kriti Industries reported a mixed Q4 FY26 with revenue of INR 142 Cr (+3% YoY) and a sharp EBITDA margin expansion to 12.91% (+1276 bps YoY), driven by inventory gains from falling PVC prices and a low base. PAT turned positive at INR 4 Cr vs a loss of INR 4 Cr last year. Full-year revenue declined 19% to INR 587 Cr due to heavy rains impacting agriculture and building product volumes. Management expects healthy volume growth in FY27 on a low base, with building products as the key growth driver. Capex is on hold pending Q1-Q2 performance. Risks include continued PVC price volatility and competitive intensity in central India.
Key Numbers
Agriculture Volume (FY26)
47,638 MT
-11% YoY
Full-year agri volume declined due to heavy rains in key markets.
Building Products Volume (FY26)
7,685 MT
-16% YoY
Building products volume fell, but management targets substantial growth in FY27.
Dealer Count
~400
flat
Dealer network is well-entrenched in MP, Rajasthan, Maharashtra; gradual expansion ongoing.
Management Guidance
Volume growth to exceed industry average in FY27
Management expects healthy volume growth in FY27 due to a low base from FY26's decline.
growthCapex on hold for first two quarters of FY27
No new capex until Q2 FY27 results are assessed; existing capacity sufficient.
capexBuilding products to be major growth driver
Focus on building products for better margins and sustained volumes; targeting substantial revenue increase.
revenueKey Risks
PVC price volatility and inventory gains
Falling PVC prices led to inventory gains in Q4, but future volatility could impact margins.
medium · analyst_questionGeopolitical uncertainty affecting petrochemical prices
Wars in Iran/Iraq region cause sudden price swings, making demand and margin forecasting difficult.
high · management_commentaryCompetitive intensity in central India
All major players are present in the region, pressuring pricing and market share.
medium · analyst_questionDependence on monsoon for agriculture demand
Heavy rains in FY26 hurt volumes; adverse weather could repeat and impact FY27 performance.
high · management_commentaryNotable Quotes
We are very clear that there is a limitation to grow beyond a regional territory if you have a located plant at one location.
We are targeting a fairly substantial increase this year... building product offers better margins and sustained volume throughout the year.
We will consolidate our position and fortunately for us this territory where we are we are a leading penion brand and that gives us an advantage.