Krystal Integrated Services delivered a stable close to FY26, reporting consolidated revenue of ₹1,277.28 crore for the full year, up 5.32% year-on-year, while net profit rose to ₹64.35 crore. The company's Q4 FY26 earnings call, held on May 08, 2026, provided a detailed account of the year's performance, strategic developments, and the management's vision for FY27. CEO Sanjay Dighe described FY26 as the year in which "Krystal 2.0 began to take real shape," underpinned by geographic expansion, new customer additions, and entry into higher-margin verticals. The company also executed a Share Purchase Agreement (SPA) on May 12, 2026, to acquire 100% of the equity shares of Citelum India Private Limited (CIPL) for ₹10,000, marking its first acquisition and entry into the smart city infrastructure space.

FY26 and Q4 Financial Performance

The company's consolidated financial results for Q4 FY26 and the full year ended March 31, 2026 are summarised below:

CFO Barun Dey noted that Q4 revenue reflected a conscious decision to avoid low-margin contracts, with approximately ₹180 crore of business deliberately not pursued. This selective bidding approach resulted in a nearly 12% year-on-year revenue decline in Q4, though it drove a 19% sequential improvement over Q3 and a 106 basis point expansion in PAT margin to 5.16%. EBITDA margin for Q4 improved by 3 basis points to 6.51% year-on-year. For the full year, EBITDA grew 7.50% year-on-year to ₹83.53 crore, with margins improving by 13 basis points to 6.54%. The Board has recommended a final dividend of ₹1.50 per equity share of face value ₹10 for FY26, subject to shareholder approval.

Acquisition of Citelum India Private Limited

The company executed an SPA to acquire 100% of CIPL, the Indian subsidiary of Citelum S.A.S., France (part of the EDF Group). The transaction details are as follows:

CIPL is a pioneer in public and private lighting infrastructure management in India, with a proven presence in smart city contracts across Ahmedabad, Noida, and Chennai. Its capabilities span advanced smart lighting with IoT connectivity, operations and maintenance of city infrastructure, energy efficiency solutions, and traffic and surveillance management. Management highlighted that CIPL's qualification with Ahmedabad Municipal Corporation, where it has been operational for eight years, provides Krystal with an established platform to participate in India's city infrastructure development projects. The acquisition also brings access to a team with deep technical expertise in smart urban infrastructure.

Order Book and Key Contract Wins

As of March 31, 2026, the standalone order book stood at approximately ₹1,220 crore, while the consolidated order book exceeded ₹2,600 crore. During FY26, the company added over 177 new customers and 250-plus new sites, with the combined multiyear new business value from these additions standing at ₹300 crore. Key contract wins during the year included:

• Facility management for the new terminal at Jay Prakash Narayan International Airport, Patna, and Vijayawada Airport, Andhra Pradesh
• O&M management contract for MSEDCL substations (33 kV and below) in Maharashtra
• Sanitation and housekeeping mandates across 25 government hospitals in Andhra Pradesh
• Facility management contract covering 167 government medical hospitals in Tamil Nadu for the Directorate of Medical and Rural Health Services
• Municipal solid waste management contracts in Vasai Virar
• Rooftop solar PV project for government hospitals and medical colleges in Maharashtra
• Security and sanitation mandates from Delhi schools and Jindal Steel

The company's RFP participation increased significantly from 5–6 corporates in FY25 to approximately 30–31 in FY26, reflecting its growing acceptance among MNCs and large Indian conglomerates. New corporate accounts added include Fortis Hospital, Livspace, Indira IVF, and Maersk Line Shipping.

Working Capital and Balance Sheet

The company's working capital position reflects the pace of business expansion. Loans and advances stood at approximately ₹146.45 crore as of March 2026, with management expecting a meaningful reduction in the near term as short-term positions are recovered. The debt-equity ratio remained comfortable at 0.22. Management noted that working capital normalisation is expected as newly added contracts reach a steady state.

Emerging Verticals and Strategic Outlook

Krystal continues to scale its higher-margin emerging verticals, including waste management, technical facility management, and solar EPC. The company is currently managing more than 350 tonnes per day (TPD) of waste and is targeting qualification to handle 800–1,000 TPD over the next 18 months. Bioenzyme technology pilots are underway in Mira-Bhayandar and Vasai Virar in partnership with Vishnu Prasad Research Center, Chennai, though no commercial timelines have been fixed. The B2C platform, Taskmaster, posted revenue of ₹46 lakh in FY26 and remains in a pilot and development phase across residential service offerings.

For FY27, management has guided for upwards of 20% revenue growth on a consolidated basis, supported by a robust order pipeline, improving business mix, and the gradual scaling of higher-margin verticals. Margin appreciation is also expected, driven by the increasing contribution of the corporate segment. The company serves over 570-plus customers across more than 4,000-plus locations nationally, supported by 31 branches and an on-site workforce of over 41,676 professionals.

Krystal Integrated Services Limited has entered into a Service Provider Agreement with M/s. Communicate India on May 11, 2026, for availing public relations services on behalf of the company. The disclosure was made pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was filed by Manishkumar Sangani, Company Secretary & Compliance Officer (Membership Number: A24871), under reference number KISL/CS/SE/18/2026-27.

Agreement Details

The company disclosed the agreement in accordance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The key particulars of the agreement, as required under Regulation 30, are outlined below:

Regulatory Compliance

The agreement does not involve any shareholding by Krystal Integrated Services in M/s. Communicate India, and the counterparty is not related to the promoter, promoter group, or group companies in any manner. The transaction does not qualify as a related party transaction under applicable regulations. No shares have been issued to the counterparty, and there are no special rights — such as the right to appoint directors, first right to share subscription, or rights to restrict changes in capital structure — associated with this agreement.

The company has also noted that in the event of any termination or amendment of the agreement, additional details will be disclosed to the stock exchanges as required, including the names of parties, nature of the agreement, date of execution, and details of any amendment or reasons for termination.