Krystal Integrated Services Limited has incorporated a wholly owned subsidiary to execute a municipal waste management contract, marking a strategic expansion in its waste management operations. The company established Krystal Waste Work Prabhag F Private Limited on January 20, 2026, as a Special Purpose Vehicle (SPV) to fulfill contractual requirements with Vasai Virar Municipal Corporation.

Subsidiary Incorporation Details

The newly incorporated entity operates under specific financial and regulatory parameters designed for waste management operations:

Contract Background and Purpose

The subsidiary formation stems from a Letter of Acceptance No. 1895/2025 dated December 15, 2025, received from Vasai Virar Municipal Corporation. The contract encompasses door-to-door collection, segregation, and transportation of municipal solid waste, including street cleaning services and transportation to designated locations. The five-year agreement operates under Solid Waste Management Rules 2016 for Prabhag F area.

A key contractual condition required Krystal Integrated Services Limited to establish a new entity as an SPV, which would serve as the designated concessionaire for contract execution with the municipal corporation.

Business Scope and Operations

Krystal Waste Work Prabhag F Private Limited will operate within the waste management industry, focusing on comprehensive waste handling services. The subsidiary's business objectives include:

• Collection, segregation, transportation and disposal of biodegradable and recyclable solid waste
• Municipal waste, liquid waste, biomedical waste, hazardous waste and e-waste management
• City, beach, and industrial undertaking cleaning and maintenance
• Mechanical and manual road sweeping operations
• Waste-to-energy projects and waste processing facilities
• Carbon credit trading and selling activities

Corporate Structure and Leadership

The subsidiary maintains close ties with its parent company through shared leadership. Ms. Neeta Prasad Lad and Mr. Shubham Prasad Lad, who serve as Whole-time Directors of Krystal Integrated Services Limited and are promoters of the parent company, have been appointed as the first directors of the wholly owned subsidiary.

Regulatory Compliance

The incorporation follows Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The subsidiary has been incorporated in Maharashtra state, with the Certificate of Incorporation issued by the Central Registration Centre, Ministry of Corporate Affairs, confirming the establishment under the Companies Act, 2013.

Krystal integrated services Limited has announced the incorporation of a wholly owned subsidiary to execute a municipal waste management contract. The new entity, Krystal Waste Work Prabhag G Private Limited, was incorporated on January 20, 2026, under the Corporate Identification Number U37003MH2026PTC466214 in Maharashtra.

Subsidiary Details and Capital Structure

The newly incorporated subsidiary has been established with specific capital requirements and operational mandates:

Municipal Contract Requirements

The subsidiary was incorporated following the receipt of Letter of Acceptance No. 1895/2025 dated December 15, 2025, from Vasai Virar Municipal Corporation. The contract encompasses comprehensive waste management services for Prabhag G over a 5-year period. One of the key conditions stipulated in the Letter of Acceptance required the company to establish a Special Purpose Vehicle (SPV) to serve as the designated concessionaire for contract execution.

The waste management services include door-to-door collection, segregation, and transportation of municipal solid waste, along with street cleaning activities. All operations must comply with the Solid Waste Management Rules 2016, ensuring adherence to regulatory standards for municipal waste handling.

Business Scope and Operations

The subsidiary will operate in the waste management industry with an extensive range of services:

• Collection, segregation, transportation, and disposal of various waste categories
• Municipal waste, biodegradable and recyclable solid waste management
• Biomedical waste, hazardous waste, and e-waste handling
• Mechanical and manual road sweeping services
• Setup and operation of mechanized refuse transfer stations
• Waste-to-energy projects and waste processing facilities
• Carbon credit trading and environmental compliance services

Corporate Structure and Leadership

Ms. Neeta Prasad Lad and Mr. Shubham Prasad Lad, who serve as Whole-time Directors of Krystal Integrated Services Limited and are promoters of the parent company, have been appointed as the first directors of the wholly owned subsidiary. This structure ensures continuity of leadership and strategic alignment between the parent company and its subsidiary operations.

The incorporation represents a strategic expansion into municipal waste management services, positioning the company to capitalize on growing opportunities in the waste management sector while fulfilling specific contractual obligations with municipal corporations.