Kross Limited delivered a strong finish to FY26, with its Board of Directors approving the audited standalone financial results at a meeting held on May 12, 2026. The company reported Revenue from Operations of ₹673.2 crore for the full year, an increase of 8.5% year-on-year. The performance was underpinned by a revival in the Commercial Vehicle segment, GST rationalization benefits, and healthy demand across key product categories. Despite a slower start in the first half of the year, the company demonstrated resilience through improved operational execution and capacity expansion initiatives. The statutory auditors, S. K. Naredi & Co LLP, Chartered Accountants, have issued an unmodified audit opinion on these results. Following the results, the company hosted an Earnings Conference Call with investors and analysts on May 13, 2026, wherein senior management discussed the performance for the quarter and financial year ended March 31, 2026, followed by an interactive question and answer session. The audio recording of the call has been made available on the company's website at www.krosslimited.com/investor-meet .

Q4 FY26 Financial Performance

The fourth quarter of FY26 was particularly strong, with revenue of ₹225.4 crore representing a 21.9% increase year-on-year and a 27.0% rise quarter-on-quarter. EBITDA for Q4 FY26 came in at ₹33.6 crore, up 25.3% YoY, with the EBITDA margin expanding 41 basis points YoY to 14.9%. Profit After Tax for the quarter stood at ₹22.4 crore, a 30.9% increase YoY, with the PAT margin improving 69 basis points to 10.0%. The following table presents the detailed quarterly and annual income statement:

Multi-Year Financial Track Record

Kross Limited has demonstrated consistent growth over the past several years. Revenue from Operations has grown at a CAGR of 23% from FY22 to FY26, while EBITDA has expanded at a CAGR of 31% and PAT at a CAGR of 46% over the same period. The annual income statement highlights this trajectory:

Segmental Highlights

Across its key business segments, the company reported broad-based performance during Q4 FY26 and FY26:

• M&HCV Segment: Key OEMs — Tata Motors and Ashok Leyland — reported strong volume growth in Q4 FY26 and April 2026, with healthy order books indicating sustained momentum into FY27.
• Trailer Segment: Recorded noticeable volume growth driven by addition of new fabricators and deeper market penetration. The successful launch of Tipping Jacks is expected to further strengthen the company's position in the trailer ecosystem from FY27.
• Tractor & Agri Segment: Delivered healthy double-digit growth in FY26. The company is targeting this segment's contribution to approximately 15% of total revenue over the next two years.
• Exports: Contributed approximately 4% to FY26 revenue, with secured orders from a European Tier-1 player supporting future growth. The company has also secured purchase orders from a Sweden-based company and a Japanese CV OEM.

Ongoing Capacity Expansion Initiatives

Kross Limited has made significant progress across multiple strategic capacity expansion projects. The following table summarises the key ongoing initiatives:

The extrusion technology adopted for the Axle Beam plant offers competitive advantages including lower material cost (no welding), lighter weight, and superior technical performance leading to improved tyre life. The Seamless Tube facility will strengthen backward integration, reduce dependence on external suppliers, and lower overall production costs, with surplus capacity to cater to demand from high-growth sectors such as Oil & Gas.

Balance Sheet Overview

The consolidated balance sheet as of FY26 reflects continued investment in growth. Total Assets stood at ₹638.4 crore compared to ₹573.3 crore in FY25, driven by an increase in Property, Plant & Equipment to ₹205.7 crore from ₹130.8 crore. Total Equity improved to ₹489.8 crore from ₹434.5 crore in FY25. Key balance sheet metrics are summarised below:

IPO Proceeds Utilization

The company has fully deployed its IPO proceeds as of March 31, 2026. The net IPO proceeds of Rs. 2,369.19 million (net of IPO expenses of Rs. 130.81 million) have been fully utilized across all stated objectives. The following table summarises the utilization:

Board-Level Appointments

At the Board meeting held on May 12, 2026, the company also approved key auditor appointments for FY 2026-27. M/s. Sohan Lal Jalan and Associate, Cost Accountants (firm registration number 000521), a Kolkata-based firm with over 40 years of experience specialising in Finance, Costing, Budgeting, and Statutory compliance, has been appointed as Cost Auditor pursuant to Section 148 of the Companies Act, 2013, at a remuneration of Rs. 70,000 plus applicable taxes and reimbursement of out-of-pocket expenses, subject to ratification by shareholders. Additionally, GWC Professional Services Private Limited, a Kolkata-based firm specialising in Internal Control Framework and Risk Management, has been appointed as Internal Auditor for FY 2026-27 pursuant to Section 138 of the Companies Act, 2013. The scope of the internal audit covers review of operational efficiency, internal controls, risk management systems, and compliance framework.

Kross Limited's FY26 performance reflects a combination of strong operational execution, broad-based segment growth, and active investment in backward integration and new product categories. The company has fully deployed IPO proceeds and is focused on deleveraging its balance sheet to fund future capital expenditure through internal accruals. Exports contribution is targeted at approximately 8% of revenue over the next two years, while the agriculture segment is targeted to contribute approximately 15% of total revenue over the same period. Notably, the Hon'ble Jharkhand High Court vide order dated January 5, 2026 quashed the levy of electricity duty on net charges; however, pending finality of the matter, the company has not recognized the potential refund/reversal of Rs. 45.45 millions in the financial results.

Kross Limited has re-appointed GWC Professional Services Private Limited as its Internal Auditor for the financial year 2026-27. The decision was taken by the Board of Directors at its meeting held on May 12, 2026. The appointment is pursuant to Section 138 of the Companies Act, 2013 read with Rule 13 of the Companies (Accounts) Rules, 2014, and Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appointment Details

GWC Professional Services Private Limited, a Kolkata-based firm of qualified professionals, has been re-appointed to review operational efficiency, internal controls, risk management systems, and the compliance framework, along with other areas as may be agreed with the management and Audit Committee. The firm specialises in Internal Control Framework and the integration of Risk Management Frameworks with Internal Audit. The term of the appointment covers FY 2026-27.

The key details of the appointment, as disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, are as follows: