Kriti Industries India , a leading manufacturer of polymer pipes and fittings, has provided guidance for its first half of fiscal year 2026, projecting revenue of ₹3,098 million and volumes of 25,560 metric tons. The company's growth strategy focuses heavily on its agriculture segment, which contributes a significant 78% to total sales.

Strong Agricultural Focus

The agriculture sector remains the primary driver for Kriti Industries, with robust demand for pipes under the Pradhan Mantri Krishi Sinchai Yojana (PMKSY) scheme. This government initiative aims to enhance agricultural infrastructure and promote sustainable practices, creating a favorable environment for companies like Kriti Industries that supply crucial irrigation systems.

Diversification and Expansion Plans

While agriculture dominates its portfolio, Kriti Industries is also eyeing growth in its industrial segment. The company anticipates rising demand for FTTx (Fiber to the x) and gas pipelines, indicating a strategic move to capitalize on India's expanding telecommunications and energy infrastructure.

Expanding Market Reach

Kriti Industries has outlined plans to broaden its dealer network beyond 400 partners. This expansion strategy, coupled with its Kasta brand positioning, aims to capture high-growth markets and strengthen the company's presence across India.

Financial Performance

The company's recent financial results reflect the challenges and opportunities in the current market:

The Q2 FY26 results show a year-on-year decline in revenue, with the company facing a net loss. However, the half-yearly figures indicate a more stable performance, suggesting that Kriti Industries is navigating through a challenging period while setting the stage for future growth.

Market Position and Outlook

Kriti Industries maintains a strong foothold in Central India, particularly in Madhya Pradesh, Rajasthan, and Maharashtra. The company's "Kasta" brand enjoys a predominant market share in these regions, with retail sales accounting for over 85% of revenues.

As the company looks towards FY26, its focus on the agriculture segment, coupled with diversification into industrial solutions and an expanded dealer network, positions Kriti Industries to potentially capitalize on the growing demand for polymer-based piping solutions in India's evolving infrastructure landscape.

Investors and market watchers will be keenly observing how Kriti Industries executes its growth strategy in the coming quarters, particularly in light of its revenue targets for the first half of FY26.

Kriti Industries India , a leading manufacturer of polymer pipes and fittings, has reported a challenging second quarter for the fiscal year 2026, with declining sales volumes and financial losses across its key business segments.

Financial Performance

The company's consolidated revenue for Q2 FY26 stood at INR 857.00 million, representing a significant year-on-year decline. The total sales volume dropped by 26% to 7,472 MT compared to the same period last year. Kriti Industries posted an EBITDA loss of INR 42.00 million with a negative margin of 4.90%, and a net loss of INR 97.00 million for the quarter.

Segment-wise Performance

Agriculture Segment

• Sales Volume: 4,842 MT
• Year-on-Year Decline: 33%
• Factors: Delayed monsoons and cautious channel stocking

Building Products Segment

• Sales Volume: 1,378 MT
• Year-on-Year Decline: 33%
• Factors: Continuous rainfall disrupting construction activity

Industrial Solutions Segment

• Sales Volume: 1,252 MT
• Year-on-Year Growth: 64%
• Supported by institutional orders

Half-Yearly Results

For the first half of FY26, Kriti Industries reported:

• Revenue: INR 3,098.00 million
• EBITDA: INR 110.00 million (3.55% margin)
• Net Loss: INR 24.00 million

Management Commentary

The company attributed the overall performance to seasonal factors, extended monsoon conditions, and subdued rural demand. These challenges have significantly impacted the Agriculture and Building Products segments, which are key revenue drivers for Kriti Industries.

Market Outlook

While the Industrial Solutions segment showed strong growth, it was not sufficient to offset the declines in other areas. The company faces ongoing challenges related to weather conditions and market demand, particularly in rural areas.

Investors and stakeholders will be watching closely to see how Kriti Industries navigates these challenges in the coming quarters and implements strategies to return to profitability.