Krystal Integrated Services Ltd — Q4 FY26

Krystal Integrated Services Ltd Q4 FY2025-26 Earnings Conference Call https://www.youtube.com/watch?v=eNUhqbfR61I Published: 5 days ago

0:00 Ladies and gentlemen, good day and welcome to the Crystal Integrated Service Limited Q4 and FY26 earnings call. As a reminder, all participant 0:10 10 seconds lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance 0:17 17 seconds during the conference call, please signal an operator by pressing star then zero on your touchstone phone. Please note that this conference is being 0:25 25 seconds recorded. This conference call may contain forward-looking statements about the company which are based on the belief, opinions and expectations of the 0:32 32 seconds company as on date of this call. The statements are not the guarantee of future performance and invol risk and uncertainties that are difficult to 0:40 40 seconds predict. Kindly note that the duration of the conference call will be 45 minutes. I now hand over the conference to Mr. Sanjay DK, CEO and wholetime 0:49 49 seconds director of the company for opening remarks. Thank you and over to you. Good morning everybody. 0:57 57 seconds Uh thanks for joining us on this call. 1:00 1 minute Uh I would like to extend a warm welcome to all of you to the Crystal Integrated Services Limited earning conference call 1:08 1 minute, 8 seconds for the fourth quarter and full year ended 31st March 2026. 1:14 1 minute, 14 seconds I would like to begin by expressing my sincere gratitude to each of you for taking time out of your schedules to 1:21 1 minute, 21 seconds join us today. It is always a privilege to have this conversation with our investors and analyst community. Joining 1:28 1 minute, 28 seconds me on the call today is Mr. Burund, my colleague and our chief financial officer, Mr. Viral Set, vice president 1:36 1 minute, 36 seconds finance and accounts as well as the ad factors team, our investor relations advisors. I hope you have had an 1:43 1 minute, 43 seconds opportunity to review our results and the detailed investor presentation shared ahead of this call. 1:50 1 minute, 50 seconds I will take you through the key highlights of our performance, the strategic developments underway and our outlook going forward. Before I begin, I 1:59 1 minute, 59 seconds want to take a moment to do something we have not formally done on our previous calls. I have always said that Crystal is not a one-man army. The strength of 2:08 2 minutes, 8 seconds this organization lies in the very very talented and experienced leadership leadership team that is driving growth 2:16 2 minutes, 16 seconds in each of our verticles. So today I'm very pleased to introduce four of our business vertical heads who are with us 2:23 2 minutes, 23 seconds on this call. Uh my colleague uh very good friend and who's been with the organization since the inception that 2:32 2 minutes, 32 seconds was year 2000 is Mr. Rahul Kamik. He is the president of operations national uh 2:38 2 minutes, 38 seconds who heads uh the entire operations of Crystal Integrated Services Limited and is responsible uh for uh efficient 2:47 2 minutes, 47 seconds service delivery to all the new customers and the old customers that we add and he's also responsible for the 40,000 plus workforce that we have. 2:57 2 minutes, 57 seconds In addition to this, Rahul heads our complete waste management vertical covering both the solid and the waste 3:06 3 minutes, 6 seconds water. all the progress that we have done in the in the whether it is TL Municipal Corporation or the Vasi Virat 3:13 3 minutes, 13 seconds uh he he is instrumental in uh in uh bidding for these tenders evaluating these tenders and also rolling out the 3:22 3 minutes, 22 seconds entire operations and currently the I I think we are managing more than 350 TPD 3:28 3 minutes, 28 seconds per day. So his task is cut out. So we have a great leadership uh in in in the form of Rahul uh heading the waste 3:37 3 minutes, 37 seconds management vertical. Uh Mr. Dhanjay D he is our president of business development. 3:44 3 minutes, 44 seconds Uh a very fine professional. Uh he's an engineer BTech and was with Tata Consulting Engineers for more than 27 3:53 3 minutes, 53 seconds years. Uh he is uh he leads our business development both government and corporate. He's focused on rebalancing 4:01 4 minutes, 1 second our business mix as we aim to increase the share of our corporate business. Mr. 4:06 4 minutes, 6 seconds Imran Khan again my colleague and very very well experienced corporate salesperson. He's our ABP uh corporate 4:15 4 minutes, 15 seconds sales who leads national corporate business expansion uh and has been very 4:22 4 minutes, 22 seconds very instrumental in growing our corporate business to from where we from what we were to what we have achieved in 4:29 4 minutes, 29 seconds this uh fiscal uh he already instrumental in the strong growth of this segment during the entire year. I 4:36 4 minutes, 36 seconds have my other colleague Kishor Shindai who is manager institutional sales and who is spearheading spearheading our 4:43 4 minutes, 43 seconds tender evaluation and participation function. Uh this is a very key function which on a daily basis evaluates 4:51 4 minutes, 51 seconds multiple tenders uh analyzes various aspects of the tenders and then submits it to the committee in terms of whether 4:59 4 minutes, 59 seconds we should bid or not bid for a particular tender. They are all present today on this call. 5:06 5 minutes, 6 seconds Allow me to briefly provide some context on Crystal for the benefit of those who may be newer to our story. Crystal 5:13 5 minutes, 13 seconds Integrated Services Limited is among the leading integrated facility management companies in India. We operate across 5:20 5 minutes, 20 seconds four core services. Integrated facility management encompassing house housekeeping, sanitization, pace 5:27 5 minutes, 27 seconds control, facing and and the other allied services, private security, manuarding, staffing solutions and payroll management and catering which is 5:36 5 minutes, 36 seconds delivered and managed through our central kitchen based in Mumbai. 5:42 5 minutes, 42 seconds Over the years, we have strategically expanded our portfolio into higher margin adjacencies, including solid and wastewater management, technical 5:51 5 minutes, 51 seconds facility management, and solar EPC. In parallel, we have also launched our B2C platform, which offers deep cleaning and 5:59 5 minutes, 59 seconds related services for the residential sector. We currently serve over 5670 plus customers across more than 4,000 6:07 6 minutes, 7 seconds plus locations nationally supported by Paran India network of 31 branches and an on-site workforce of over 41,676 6:17 6 minutes, 17 seconds dedicated professionals who remain our most val v valuable assets and the foundation of our service delivery. 6:25 6 minutes, 25 seconds With that as a context, let me now speak uh of the performance and strategic direction of business. 6:35 6 minutes, 35 seconds The fourth quarter delivered a stable and encouraging close to the year with continued momentum in our corporate segment and an evolving business mix 6:44 6 minutes, 44 seconds that reflects the discipline we have exercised ac across our operations on a fullear basis. The trajectory has been 6:51 6 minutes, 51 seconds similarly encouraging. I will leave the detailed financial commentary to uh my colleague Barun. Uh but I would like to 6:59 6 minutes, 59 seconds use this time to speak about the strategic narrative behind those numbers. I would describe FY26 as the 7:06 7 minutes, 6 seconds year in which Crystal 2.0 began to take real shape. This year has strengthened the foundations for sustainable and 7:14 7 minutes, 14 seconds profitable growth with diversified expansions across India. We added over 177 new customers and 250 plus new sites 7:23 7 minutes, 23 seconds in the financial year FY26 and the combined multi-year new business value from these additions stands at a whooping 300 cr. 7:33 7 minutes, 33 seconds uh we have expanded into entirely new geographies including Kolkata, Goati, Jor, Bhaneshwar and Angul and onboarded 7:41 7 minutes, 41 seconds landmark accounts like fortis hospital leaf space India India IVF as full national account as well as merline 7:48 7 minutes, 48 seconds shipping for cargo management security in north and south India and many more. 7:54 7 minutes, 54 seconds I would also like to highlight that our RSP participation has significantly increased from just five to six corporates in FY 2425 8:03 8 minutes, 3 seconds to around 30 or 31 in the financial year 202526. 8:11 8 minutes, 11 seconds This reinforces Crystal's emergence as a as a as a partner of choice for both MNC's and leading Indian conglomerates 8:20 8 minutes, 20 seconds across sectors and geographies. We are increasingly competing for and winning large structured 8:28 8 minutes, 28 seconds large structured multilocation corporate contracts alongside global facility management players. As a compliant and 8:35 8 minutes, 35 seconds professional manage managed organization, we are witnessing growing acceptance and trust from market clients which is very very encouraging. This 8:44 8 minutes, 44 seconds year our penetration across sectors has also deepened meaningfully. We have further strengthened our position into 8:51 8 minutes, 51 seconds sectors such as manufacturing, healthcare, airports, education, logistics and industrial security, IT, 8:59 8 minutes, 59 seconds quick commerce, warehousing and R&D centers and so on. Many of these sectors are benefiting from India's ongoing infrastructure and manufacturing LE 9:08 9 minutes, 8 seconds growth further fueled by expansion of commercial office spaces, IT parks and industrial make in India projects. And 9:16 9 minutes, 16 seconds uh so our strategy going forward is to position Crystal as an integrated managed services solutions partner. 9:27 9 minutes, 27 seconds As we further deepen our relationships with existing clients and cross-ell our diversified services, we are able to 9:34 9 minutes, 34 seconds expand wallet share without a proportionate increase in cost. Having said that, I would also like to address our government business segment which is 9:43 9 minutes, 43 seconds very very important to us. The government business segment remains an integral and important component of our 9:51 9 minutes, 51 seconds overall portfolio. Public sector infrastructure spending in India continues to grow and the opportunity landscape for a company like Crystal remains very very substantial. 10:02 10 minutes, 2 seconds Also, our pre-qualifications in this government business since since the inception year of 2000 makes us a very 10:10 10 minutes, 10 seconds very solid player nationally to participate in all the marquee uh tenders that are being uh conceptualized 10:18 10 minutes, 18 seconds and floated by the government. We are able we but we are being now selective. 10:24 10 minutes, 24 seconds Last year we have seen this change in our approach to government bidding. We have we are more selective and more disciplined in our bid evaluation. 10:34 10 minutes, 34 seconds However, we continue to actively bid and win government contracts wherever we see meaningful value and we will continue to 10:41 10 minutes, 41 seconds do so. The government segment recorded two new contracts awarded during Q4 FY26 and 17 new contracts awarded on a 10:50 10 minutes, 50 seconds fullear basis reflecting this measured and profitability first approach. In line with our strategic initiatives, I'm 10:58 10 minutes, 58 seconds happy to share that the board has approved the 100% acquisition of Settleum India Private Limited uh wholly owned subsidiary uh of the French 11:07 11 minutes, 7 seconds government marking our foray into the smart lighting and urban infrastructure space. Sitlum India Private Limited is 11:14 11 minutes, 14 seconds the Indian subsidiary of Sitlam SAS France part of the EDF group and is pioneer in public and private lightning 11:21 11 minutes, 21 seconds infrastructure management in India with a proven presence in smart city contracts across Ahmedabad, Noida and 11:27 11 minutes, 27 seconds Chennai. It is also a very very uh prominent player in the in the private sector of street lighting and the 11:35 11 minutes, 35 seconds lighting business. Uh especially on large project uh based execution and has 11:42 11 minutes, 42 seconds uh has uh uh executed some mega projects for uh Tata projects and Mahindra 11:50 11 minutes, 50 seconds townships. Their capabilities span advanced smart lighting with IoT connectivity, operations and maintenance of city infrastructure, energy 11:58 11 minutes, 58 seconds efficiency solutions and traffic and surveillance management. Through this acquisition, we also gain access to proven team with deep technical 12:07 12 minutes, 7 seconds expertise, a smart urban infrastructure and integrated city solutions. With the team's extensive technical expertise and proven track record in Andawad, Noa and 12:16 12 minutes, 16 seconds Chennai, we are very well positioned for rapid and increasingly profitable growth in the smart lighting and urban infrastructure space. This marks our 12:24 12 minutes, 24 seconds first acquisition, a strategically significant step that provides us with an established platform to participate 12:31 12 minutes, 31 seconds in India's uh city infrastructure development projects. Strengthens our portfolio with technically differentiated and higher margin service 12:40 12 minutes, 40 seconds offerings and of course a subsequent ON&M business that follows with every executed project. This aligns seamlessly 12:47 12 minutes, 47 seconds with the broader crystal 2.0 vision that we are building. We are equ equally focused on sustainability link 12:55 12 minutes, 55 seconds opportunities including those arising from Sata Bharat Abby the national solar mission and the Amurut mission all of which is a growing 13:03 13 minutes, 3 seconds addressable market for crystal. Moving forward let me now share where we stand on our order book position because I 13:11 13 minutes, 11 seconds believe this is one of the most reassuring parts of our story today. As of 31st March 2026, our order book in 13:19 13 minutes, 19 seconds hand stands approximately INR 1,220 crores. Uh 13:26 13 minutes, 26 seconds and and this is this is considerably high uh given the work that we have done last year. So our position on control 13:35 13 minutes, 35 seconds basis is uh is is much better and process even 2,500. 13:41 13 minutes, 41 seconds During the year, we secured several key mandates including facility management for the new terminal at Jetrakash Naran 13:49 13 minutes, 49 seconds International Airport in Patna as well as Vijayada airport in Andhra Pradesh, manpower services for Mumbai Metro lines 13:56 13 minutes, 56 seconds and onm of power substations in Maharashtra. This marks one of the most significant breakthroughs of the year with the award of the O andM management 14:04 14 minutes, 4 seconds contract for MS ECL substations currently operating at 33 KV and below. 14:10 14 minutes, 10 seconds This contract is strategically important as it establishs as as it establishes our qualification 14:16 14 minutes, 16 seconds and credibility in the power sector uh predominantly in the substation on&M 14:23 14 minutes, 23 seconds management uh enabling us to pursue similar opportunities with electricity boards across the country. 14:31 14 minutes, 31 seconds We also though though this is a uh this is a Maharashtra state electricity board uh contract uh it also opens uh doors 14:39 14 minutes, 39 seconds for us in uh private uh energy companies which are supplying power to uh power uh to 14:47 14 minutes, 47 seconds various cities in India. We also deepened our presence in healthcare and public infrastructure through sanitization through sanitation and 14:55 14 minutes, 55 seconds housekeeping mandates across 25 government hospitals in Andhra Pradesh along with a repeat client contracting 15:02 15 minutes, 2 seconds covering 29 government education institutions in Tamil Nadu. In addition, we secured a large facility management 15:09 15 minutes, 9 seconds contract in 167 government medical hospitals in Tamil Nadu for the prestigious Directorate of Medical and Rural Health Services which is DMS. 15:19 15 minutes, 19 seconds We also secured sanitation and security mandates from Delhi schools sanitation services for Jindal steel and municipal 15:26 15 minutes, 26 seconds solid waste management contracts in Wasira. Notably, the Was Vira win was particularly significant as we were 15:33 15 minutes, 33 seconds among the top three qualifying agencies supported by our technology partners with MTS. Under CBS guidelines, our 15:41 15 minutes, 41 seconds qualification allows us to beat for projects of work approximately 480 to 500 TPD, which is tons per day by the 15:48 15 minutes, 48 seconds end of the current fiscal. We are targeting to scale this qualification to 800 to,000 tons per day over the next 18 months, which would substantially 15:56 15 minutes, 56 seconds enhance our revenue potential and also uh give us the scope to better our uh margin profile. This fiscal we also 16:06 16 minutes, 6 seconds secured a rooftop solar PV uh project for government hospitals and medical colleges in Maharashtra making our entry 16:13 16 minutes, 13 seconds marking our entry into the renewable energy segment. From an operational standpoint we are also driving a structural shift in our workforce 16:22 16 minutes, 22 seconds composition progressively moving towards skilled and semi-skilled manpower supported by our rigorous training initiatives as well as 16:31 16 minutes, 31 seconds internal capability development programs. This shift enables us to offer more sophisticated value added service 16:38 16 minutes, 38 seconds propositions, command better pricing and improve our margins on a sustained basis. Therefore, our guidance for FY 16:45 16 minutes, 45 seconds 2627 uh we are targeting upwards of 20% revenue growth on a consolidated basis. 16:54 16 minutes, 54 seconds Margin appreciation is also expected going forward led by the increasing contribution of our corporate segment and the gradual scaling of our higher 17:02 17 minutes, 2 seconds margin emerging verticals. Our pipeline of orders is robust, the demand environment remains constructive and our 17:09 17 minutes, 9 seconds execution capabilities are stronger than ever. 17:14 17 minutes, 14 seconds I will now hand over the call uh to Bun our CFO to take you through the financial highlights for the quarter and 17:22 17 minutes, 22 seconds the full uh full year. Uh hope I've been able to uh explain to you the year gone by and what we are looking at in the 17:31 17 minutes, 31 seconds future. Over to you. Thank you. 17:44 17 minutes, 44 seconds Good afternoon everyone. Thank you Sanj. 17:49 17 minutes, 49 seconds I will now take you through our consolidated key financials for Q4 and the full year ended 31st March 26. 17:58 17 minutes, 58 seconds We reported in 364.94 crores in revenue during Q4 FY26 nearly 12% year-on-year decline. 18:11 18 minutes, 11 seconds So this was a conscious outcome of our disciplined approach to bidding where we choose not to pursue opportunities that 18:20 18 minutes, 20 seconds will dilute margin. While operational scale moderated during the quarter, we delivered a healthy 19% sequential 18:27 18 minutes, 27 seconds improvement over Q3 driven by stronger operational efficiency and continued focus on profitability. 18:36 18 minutes, 36 seconds The IITA excluding the other income for the quarter was inner 23.7H 18:44 18 minutes, 44 seconds year and 11% year-on-year decline reflecting the same selective bidding discipline. A beta margin however 18:52 18 minutes, 52 seconds improved by three basic points to 6.51%. 18:58 18 minutes, 58 seconds Our PA during the quarter is 18.85 85 sear as against 16.93 sear in the fourth 19:07 19 minutes, 7 seconds quarter of FY25 an increase of over 11% yearonear pad 19:14 19 minutes, 14 seconds margin stood at 5.16% up 106 basic points over Q4 19:21 19 minutes, 21 seconds FY25 the earning per share for the quarter is in 13.49 49. 19:30 19 minutes, 30 seconds Now coming to our annual FY26 numbers, our revenue for FY26 came at 1,277.28 19:41 19 minutes, 41 seconds year a 5.32% yearon-year rise driven by steady execution of existing contracts 19:49 19 minutes, 49 seconds and new order wins across government and corporate vertical. Our EITA excluding the other income for the year stood at 19:58 19 minutes, 58 seconds INR 83.53 SER up by 7.5 yearon year. IITA margin 20:05 20 minutes, 5 seconds is 6.54% and improvement of 13 basic points over FY25 reflecting operational efficiency better 20:14 20 minutes, 14 seconds operational leverage and improvement in business mix. Our pat during the period is 64.35 20:22 20 minutes, 22 seconds seere as against 62.52 se in FY25 up by nearly 3%. Pat margin stood at 5.04%. 20:35 20 minutes, 35 seconds The earning per share for the period is 45.94. 20:40 20 minutes, 40 seconds Now our working capital specifically receivables and loans and advances has increased during the year. This is the 20:48 20 minutes, 48 seconds direct consequences of the space at which we have been adding new customers, new geographies and new contracts. 20:57 20 minutes, 57 seconds As each of these businesses reaches a new steady state, working capital will normalize. Our loan and advances stood 21:06 21 minutes, 6 seconds at approximately 146.45 45 crores as on March 26 and we expect that this will be 21:15 21 minutes, 15 seconds reduced meaningfully in the near term as short-term positions are recovered. 21:22 21 minutes, 22 seconds Our date equity remains comfortable at 22. This is a short-term working capital 21:30 21 minutes, 30 seconds impact that is very typical on a business that is scaling rapidly and we expect this to correct itself as our new 21:39 21 minutes, 39 seconds contract stable. I am happy to share that board of directors has recommended 21:45 21 minutes, 45 seconds a final dividend of 150 FISA per equity share of face value of rupees 10 for the 21:54 21 minutes, 54 seconds financial year 26 subject to approval of shareholder. This is all from from my 22:01 22 minutes, 1 second side. Thank you. We will now open the floor for questions. 22:07 22 minutes, 7 seconds Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press star and one on their touchstone 22:15 22 minutes, 15 seconds telephone. If you wish to remove yourself from the question queue, you may press star and two. Participants are 22:23 22 minutes, 23 seconds requested to use handsets while asking a question. 22:26 22 minutes, 26 seconds Ladies and gentlemen, we will wait for a moment while the question queue assembles. 22:38 22 minutes, 38 seconds We'll take our first question from the line of Shravan Modi from Syndicate Family Office. Please go ahead. 22:52 22 minutes, 52 seconds Please use your hands. Sit mode. Yeah. Good morning. Yes. Go ahead. 23:00 23 minutes Morning. 23:01 23 minutes, 1 second So my question to the management would be uh how do you differentiate from large global from players like CBR JLS 23:09 23 minutes, 9 seconds and so when competing for large corporate mandates okay that is a good question 23:17 23 minutes, 17 seconds so Shan generally the services which are offered are are are the same the quality 23:26 23 minutes, 26 seconds we we we we are able to offer a much better quality when it comes to large contracts. The only differentiation is 23:34 23 minutes, 34 seconds these people come with the international mandates. So because they are essentially proper property management companies. So therefore they come with 23:42 23 minutes, 42 seconds uh international mandates but they do not have in-house capabilities to uh offer these services that we we offer 23:50 23 minutes, 50 seconds and therefore these are all outsourced services for them and visav when it comes to us when we are pitching for business we are the direct service 23:57 23 minutes, 57 seconds providers to the customer. So there is no uh there is it is a seamless service offering when it comes from us uh 24:05 24 minutes, 5 seconds directly to the customer. Uh that is the that is the only only different difference and today there are many 24:12 24 minutes, 12 seconds corporates which have started to realize this and therefore we therefore if you see the new customers that we have added 24:20 24 minutes, 20 seconds over the period of time. These are the customers which uh which we have we have we have competed with these large players and we have acquired this 24:29 24 minutes, 29 seconds customer. So in a nutshell to tell you it is just that they are a property management company and coming with international mandates and we are an 24:37 24 minutes, 37 seconds Indian company pitching for the same business. They outsource services. We we we are the we are the original service provider. 24:47 24 minutes, 47 seconds Right. Uh thank you for your inputs. 24:49 24 minutes, 49 seconds Also I just wanted to get them thoughts on u what is your 3 to 5 year vision for like crystal? uh where do you see the company and organization grow in terms 24:58 24 minutes, 58 seconds of business mix and where do you see the market positioning itself and you know in terms of scalability as well what could be the what was the vision towards 25:06 25 minutes, 6 seconds the growth yeah in the next three to five years the way that we are we we are and we we've 25:13 25 minutes, 13 seconds said that we are rebalancing our service portfolios uh apart from just the government and corporate mix which 25:20 25 minutes, 20 seconds earlier used to be 7030 we are trying to rebalance and add more corporates also in the portfolio. We are uh re uh we are 25:30 25 minutes, 30 seconds uh uh redefining our bidding strategy so that we add meaningful government contracts. We have diversified into the waste management space and already 25:38 25 minutes, 38 seconds acquired contracts. So waste management is also going to play a very crucial role going forward because our pre-qualifications are now very very 25:47 25 minutes, 47 seconds strong uh in the solid waste uh as well as the waste water. We are moving towards project management businesses uh 25:55 25 minutes, 55 seconds in in the ON&M space. Our uh MEDCL contract gives us a huge headway in that 26:02 26 minutes, 2 seconds sector. Also our newer acquisition of sitlum opens a completely new uh new 26:09 26 minutes, 9 seconds uh space for us to operate which is city lighting and uh because the the company already is qualified inhabad municipal 26:18 26 minutes, 18 seconds corporation and has been servicing that for the next 8 years. So that gives us a new direction in uh in city 26:26 26 minutes, 26 seconds infrastructure. To to sum it up in the next 3 to 5 years we we in the government sector we we will grow our 26:34 26 minutes, 34 seconds dominance. Uh we will bid for good contracts which are giving us uh healthier margins. We would have made 26:42 26 minutes, 42 seconds the space for ourselves as the most preferred service provider in large MNC's and conglomerates. We are also shifting our manpower mix to a more 26:51 26 minutes, 51 seconds semi-skilled and skilled kind of manpower. So we will be able to uh have our business proposal structured in a 26:59 26 minutes, 59 seconds very different manner. And yes these with these changes we would emerge as one of the key player with with much 27:06 27 minutes, 6 seconds diverse and very strong verticals in the next five years which are going to be all um revenue making all sustainable and all profitm. 27:19 27 minutes, 19 seconds Right. 27:20 27 minutes, 20 seconds That's that answer. Thank you so much for your inputs and patiently answering everything I want. Uh I wish you and the organization all the very best and to grow really well. Thanks. 27:30 27 minutes, 30 seconds Thank you. 27:31 27 minutes, 31 seconds Thank you. Next question is from the line of Mahesh Kumar from MU investment. Please go ahead. 27:39 27 minutes, 39 seconds Hello. Am I audible? Yes. Yes. 27:42 27 minutes, 42 seconds Uh thank you for the opportunity. uh uh so I just had two questions on one on the taskmaster. So I just wanted to know 27:49 27 minutes, 49 seconds how much revenue is you know contributed by the that uh task taskmaster currently. 27:56 27 minutes, 56 seconds Yeah, currently the task uh the taskmaster currently has it is a startup. So it has it has posted a 28:04 28 minutes, 4 seconds revenue of about 46 uh in this year 46 lakhs. We are building it. Our application is ready. The team is ready. 28:13 28 minutes, 13 seconds our pilot work is going on. We are identifying the pro the good geographies that we can we we need to work uh even 28:21 28 minutes, 21 seconds internally in Mumbai forget any other city. So there is a lot of work going on in terms of branding in terms of 28:28 28 minutes, 28 seconds marketing uh in terms of platforms and so on so forth. So this year from the second quarter maybe it will start 28:36 28 minutes, 36 seconds picking up some space and it'll take uh take almost a year into see a particular kind of traction. Uh it 28:45 28 minutes, 45 seconds is a good space and all of us know it is a no-brainer that which there are there are key players in every and the offering of these services also has a 28:53 28 minutes, 53 seconds lot of flexibility. So there is a lot of things happening in that market space and we are very much there with our supervisory training abilities, our 29:01 29 minutes, 1 second police verification capabilities and our uh our management bandwidth of that. So it is just a matter of a couple of 29:09 29 minutes, 9 seconds months that we will see actually a trajectory on a growing on a growth. 29:15 29 minutes, 15 seconds Okay sir. So uh how do you see how do you see taskmaster and like going forward how what percentage of revenue 29:22 29 minutes, 22 seconds any guidance on that how much it can contribute going forward in next 2 three years of course uh to be very honest mahubar we are we I 29:32 29 minutes, 32 seconds will not be able to give you a two three year guidance uh because lot of work is going on currently it is uh under uh 29:39 29 minutes, 39 seconds various type of uh pilot projects that we are doing because it is in a B2C residential sector So in a residential 29:46 29 minutes, 46 seconds sector also there are range of services uh that are being offered currently by the players and we are also figuring it 29:54 29 minutes, 54 seconds out exactly the services the packages and what what value we can drive in that sector. So it is it is very early for me 30:02 30 minutes, 2 seconds to actually give any ad hoc comment on the uh on the future uh projections of this business but definitely once we 30:10 30 minutes, 10 seconds have got our things aligned on one of the calls definitely I will give a proper feedback on this. 30:16 30 minutes, 16 seconds Sure sure. Uh and one last question on the corporate side. So we since we are targeting more corporate uh clients now 30:23 30 minutes, 23 seconds what any big names we have added in that and what are the myin profile versus you know others in the corporate. Yeah, we 30:30 30 minutes, 30 seconds have we've added uh quite a few uh big names uh which I have already uh said on 30:37 30 minutes, 37 seconds my introductory speech. We have ordered uh there is the merk shipping lines. We've 30:44 30 minutes, 44 seconds added we've added uh hospitals for hospitals. We have added the new 30:51 30 minutes, 51 seconds Adani hospitals. Uh so a lot of them they are all uploaded on our maybe uh the new presentation also that was uploaded. 31:00 31 minutes Okay. And how is the margin profile sir? 31:03 31 minutes, 3 seconds Not only we've added new customers we've added new geographies also and we've added new services also. So the p penetration is uh new customer wise also 31:12 31 minutes, 12 seconds and new geographies also. Uh margin margin profile also that is an interesting question. the margin profile 31:21 31 minutes, 21 seconds of the corporate sector also has increased over the period of time that we saw which in the post-pandemic era. 31:28 31 minutes, 28 seconds So the uh we and of course it depends on a service delivery capability and I as I told you my colleague Rahul heads that 31:35 31 minutes, 35 seconds service delivery and with the kind of efficiency he brings to the customer's doorstep we are able to command a better margin profile. So margin profile is 31:44 31 minutes, 44 seconds also uh good in the new corporate business. 31:48 31 minutes, 48 seconds Okay sir. Okay, thank you so much. Uh that is from my side and all the best. Thank you. 31:54 31 minutes, 54 seconds Thank you. Next question is from the line of V ROR from JJ Investment. Please go ahead. 32:01 32 minutes, 1 second Uh hi sir. Uh good afternoon. Uh thank you for giving me this opportunity. Uh sir I wanted to ask while we see there 32:11 32 minutes, 11 seconds is a 106 BPS expansion in uh PAT margin this quarter. uh but the 11.7 32:19 32 minutes, 19 seconds yearover revenue decline that we see in Q4 is quite sharp. So could you quantify how much of this drop was due to any 32:28 32 minutes, 28 seconds exits from any low margin contracts or a slowdown in new order inflows or any delay in government entering quantifiable split? 32:39 32 minutes, 39 seconds Yeah, this is also a good question. you know 180 cr worth of business uh we we had decided we had taken a step not to 32:46 32 minutes, 46 seconds go and bid aggressively and chasing revenue. Therefore we we had a major shift in our bidding uh philosophy to 32:55 32 minutes, 55 seconds focus on projects which which give us better margins. So therefore there were a couple of businesses that we we we did 33:03 33 minutes, 3 seconds not bid for and uh so that is the reason that uh what we we saw a little uh 33:12 33 minutes, 12 seconds little uh shift in our uh revenue. So that was one point. The second point is there are there were some uh tenders 33:20 33 minutes, 20 seconds that we had already participated and we are still expecting the results. So there is pillover of the decision making also there. So these are two elements 33:28 33 minutes, 28 seconds which has postponed the business which should have actually come in this financial year. But if you look at our order book position we have we have a 33:37 33 minutes, 37 seconds extremely good order position on a standalone and console basis also like on a standalone we have more than 1200 cr of order book position and a console 33:46 33 minutes, 46 seconds basis uh we have more than 2,600 cr of order book position if you see the entire uh contract tenure. So we are in 33:54 33 minutes, 54 seconds a very very good position. So what we were not able to achieve due to these two areas it is going to be made up in the in the coming uh fiscal that we see. 34:07 34 minutes, 7 seconds All right. Uh so there is a delay in uh government tending sector part uh we are 34:14 34 minutes, 14 seconds L1 and any of the is there any pipeline? So there is a there is a there 34:22 34 minutes, 22 seconds is a slight delay in the processes to to disclose the decision. So that's it. So maybe we we've already bid it. We were supposed the results were supposed to 34:31 34 minutes, 31 seconds come in last fiscal but for the process uh reason I think the decisions are pending. It it could come anytime a 34:40 34 minutes, 40 seconds little later. So these are the and this is a very typical scenario in a government uh businessdriven 34:46 34 minutes, 46 seconds organization because you know they the the bidding and the entire process the documentation compliance is is in our 34:54 34 minutes, 54 seconds hand the evaluation is with various machineries and since we participate in larger contracts there are times to 35:01 35 minutes, 1 second evaluate these these contracts the decision-m process take a little uh uh takes a little time. So which is which 35:08 35 minutes, 8 seconds is good that is not a problem only thing now that we have listed we have we the spill over uh completely goes into a different quarter and a different year 35:16 35 minutes, 16 seconds or or so but uh the business's hand is already there okay noted uh thank you so much uh this 35:25 35 minutes, 25 seconds answers the question thank you so much thank you next question is from the line of Nimsh 35:32 35 minutes, 32 seconds Panda from NP investment please go ahead Hello sir, good afternoon. So I have a couple of questions. 35:42 35 minutes, 42 seconds Uh I just wanted to know so what is the expected timeline for commercialization of the bioensel technology and sir how 35:51 35 minutes, 51 seconds should we think about this medium-term revenue potential? 35:55 35 minutes, 55 seconds No. Can can you uh say again the earlier line that you said? So what is the expected timeline for commercialization of the bioenzyme technology? 36:08 36 minutes, 8 seconds Okay. Yes. 36:11 36 minutes, 11 seconds So the commercial commercial see this bioenzyme technology also though there are various technologies in the 36:18 36 minutes, 18 seconds bioenzyme and most of them are patented by different different uh research laboratories. 36:26 36 minutes, 26 seconds The commercialization takes maximum one month to when when when you have you 36:32 36 minutes, 32 seconds spray these enzymes on on the garbage or on the legacy waste then there it is from 7 days to 1 month that it takes to 36:42 36 minutes, 42 seconds actually unleash the commercial value of this enzyme. So this entire thing is under a lot of uh development and we 36:50 36 minutes, 50 seconds have also done various pilot projects in municipal corporations. So basically when it removes that entire uh organic 36:58 36 minutes, 58 seconds waste and uh so whether it is a one ton of waste which is created by enzyme the reduction 37:05 37 minutes, 5 seconds of actual waste in the number of days is the key. Currently as you know we have a strategic association with VPRC Vishnu 37:12 37 minutes, 12 seconds Prasad Research Center in Chennai and we are doing various pilot projects with their enzymes. So 37:20 37 minutes, 20 seconds this is uh we we've already running this pilots in Miraband and Vir 37:26 37 minutes, 26 seconds Garbage dumps. So exactly uh it is under process once we exactly know how much is the timeline to reduce how much quantum 37:36 37 minutes, 36 seconds of the waste then there is a commercial proposal that can be sub submitted. So currently there is no fixed commercial 37:43 37 minutes, 43 seconds cost that can be allotted because these are all under pilot. Okay, got it. Got it sir. Okay, sir. 37:51 37 minutes, 51 seconds That's it from my side. That's fine. Thank you. Thanks a lot. 37:55 37 minutes, 55 seconds Thank you. As there are no further questions, I now hand the conference over to Mr. Sanjay Day for closing comments. Over to you, sir. 38:12 38 minutes, 12 seconds So I would like to once again thank the entire Crystal team across the country for their dedication and hard work which 38:18 38 minutes, 18 seconds continues to drive our progress. I also thank our promoter family for their trust, our valued customers and 38:26 38 minutes, 26 seconds continued for their continued partnership. our valuable bankers for their support. Uh our valuable investors 38:34 38 minutes, 34 seconds uh the vendor partners with whom we work nationally and who support our various projects. Uh the ad factors team for 38:42 38 minutes, 42 seconds their guidance and uh all the analyst uh broker uh community of my friends who are patiently listening to this call. 38:56 38 minutes, 56 seconds Most importantly, I thank all the investors for their continued trust and confidence. We remain fully committed to delivering on our on on your 39:04 39 minutes, 4 seconds expectations and creating long-term value for all of us. Thank you very much. 39:10 39 minutes, 10 seconds Thank you. On behalf of Crystal Integrated Services Limited, that concludes this conference. Thank you for joining us.