Krystal Integrated shares: Krystal Integrated Services Ltd experienced a notable surge of over 5 percent in its shares during Tuesday’s trading session following the release of impressive financial figures for the quarter and fiscal year concluding on March 31, 2024. These results mark the company’s inaugural quarterly report since its introduction to Dalal Street in March of this year.
According to the exchange filing, Krystal Integrated reported a net profit of Rs 15.7 cr for the March 2024 quarter, marking a significant 70.3 percent increase year-on-year from Rs 9.2 cr in the corresponding period of the last year. The company’s PAT margins also saw growth, rising by 58 basis points to 5.4 percent from 4.8 % in the reviewed period.
During the same period, Krystal’s revenue from operations surged by 52 percent year-on-year to reach Rs 292.2 crore, compared to Rs 192.2 cr in the corresponding quarter of the last fiscal year. Additionally, the EBITDA nearly doubled to Rs 18.8 crore from Rs 9.5 cr, with the EBITDA margin expanding by 149 basis points to 6.4 percent year-on-year.
Following the results announcement, Krystal Integrated Services’ shares surged by 5.32 percent to Rs 790.55 on Tuesday, bringing its total market capitalization close to Rs 1,100 crore. The stock had closed at Rs 750.25 on Monday, registering a 5 percent increase for the day. Over the last two sessions, the stock has seen a cumulative rise of approximately 11 percent.
For the fiscal year ending on March 31, 2024, Krystal Integrated reported a significant year-on-year net profit growth of 45.2 percent, reaching Rs 49 crore. Revenue from operations also experienced a robust growth of 45.1 percent year-on-year, totaling Rs 1,026.8 crore. Although EBITDA grew by 37.8 percent to Rs 68.7 crore, the EBITDA margins for the year contracted slightly by 35 basis points to 6.7 percent.
The company board has proposed a dividend of Rs 1.50 per equity share, which accounts for 15 percent of the face value of Rs 10 each, subject to approval from shareholders, as stated in the filing.
Krystal Integrated Services stands out as one of the leading integrated facilities management services providers, specializing in various sectors including healthcare, education, public administration (inclusive of state government entities, municipal bodies, and other government offices), airports, railways, metro infrastructure, and retail.
Sanjay Dighe, the CEO & Whole Time Director of Krystal Integrated Services, attributed the growth primarily to a significant increase in the company’s order book, driven by the acquisition of new contracts. He emphasized the strategic expansion of corporate partnerships as a means to lessen reliance on government contracts.
Furthermore, he highlighted the company’s efforts to broaden its service portfolio. Looking ahead, he expressed optimism for the new fiscal year and pledged to maintain momentum in the upcoming quarters, extending gratitude to the entire team at Krystal and stakeholders for their unwavering support.
Krystal had raised a total of Rs 300.13 crore through its initial stake sale, offering shares at Rs 715 each. The stock has appreciated by 10 percent from its issue price. However, it reached a peak of Rs 1,023.75 in April 2024 before undergoing a correction of approximately 30 percent from those levels.
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