Krystal Integrated Services Limited has announced significant organizational changes following its Board meeting held on January 02, 2026. The company has made key managerial personnel changes and approved the incorporation of three new subsidiaries as part of its strategic expansion in waste management operations.

Key Managerial Personnel Changes

The Board of Directors accepted the resignation of Ms. Stuti Maru from her position as Company Secretary and Compliance Officer, effective from the close of business hours on January 02, 2026. Ms. Maru tendered her resignation due to personal reasons, as stated in her resignation letter dated December 26, 2025. She will continue as an employee of the company in her existing department role and has committed to ensuring a smooth transition of her secretarial responsibilities.

Simultaneously, the Board approved the appointment of Mr. Manishkumar Sangani (ACS No. 24871) as the new Company Secretary and Key Managerial Personnel, effective January 03, 2026. The appointment was made based on the recommendation of the Nomination, Remuneration and Compensation Committee.

New Compliance Officer Profile

Mr. Manishkumar Sangani has also been designated as the Compliance Officer of the company, effective January 03, 2026, pursuant to Regulation 6 of the SEBI Listing Regulations. He is a qualified Company Secretary and Law Graduate from Mumbai University with over 16 years of comprehensive experience, including more than 15 years of post-qualification experience in Secretarial, Corporate Governance, and Law functions.

Throughout his career, he has handled responsibilities under the Companies Act, 2013, SEBI Listing Regulations, SEBI Insider Trading Regulations, Merger & Demerger, and board governance processes. His expertise includes managing statutory filings, ensuring compliance with stock exchange regulations, and handling regulatory interactions with ROC, SEBI, Stock Exchanges, and other authorities.

Subsidiary Incorporation Strategy

The Board approved the incorporation of three wholly owned subsidiaries, structured as Special Purpose Vehicles (SPVs). These new entities will operate under specific names and represent the company's expansion strategy in waste management operations, following Letters of Acceptance received from Vasai Virar Municipal Corporation.

Municipal Corporation Contracts

The subsidiary incorporations are driven by specific contractual requirements from Vasai Virar Municipal Corporation. The company has received Letters of Acceptance for providing door-to-door collection, segregation, and transportation of Municipal Solid Waste services.

Board Meeting Compliance

The Board meeting commenced at 12:00 noon and concluded at 12:25 p.m. on January 02, 2026. All decisions were made unanimously by the Board of Directors. The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with detailed annexures provided for each major decision.

The information has been made available on the company's website at krystal-group.com/investor-relations/ for stakeholder reference and transparency.

Krystal Integrated Services Limited , a leading facility management and integrated services provider, has reported a 6.5% year-on-year revenue growth to INR 283.40 crores in Q2. The company's performance, while positive, was moderated by delays in government tender finalization due to extended documentation processes.

Financial Highlights

Key Developments

• Secured major contracts worth over INR 800 crores, including:
  • INR 157 crores from Delhi Education Directorate for sanitation and security manpower services
  • INR 168 crores from Andhra Pradesh Medical Education for sanitation services
• Maintained a robust order book of INR 2,600+ crores
• Added 92 new corporate customers in H1

Segment Performance

The corporate segment showed strong growth, with revenue increasing by 53% year-on-year in H1. This growth reflects the company's efforts to strengthen its position in the private sector.

Challenges and Outlook

CEO Sanjay Dighe addressed the impact of documentation delays on revenue recognition, stating, "The only challenge that we may face, which we faced in this quarter is a certain delay in documentation. That is the only challenge that we see." He expressed optimism about the company's future performance, citing a healthy pipeline of projects and the potential for margin improvement through diversification into areas such as solid waste and wastewater management.

Strategic Initiatives

Krystal Integrated Services is expanding its service offerings, including:

1. Entry into the B2C segment with 'Taskmaster' for residential cleaning services
2. Exploring opportunities in water and wastewater management
3. Evaluating potential expansion into ports and solar EPC projects

The company maintains a 70:30 ratio between government and corporate sector revenues, with plans to strengthen its corporate sector presence further.

As Krystal Integrated Services navigates through documentation challenges and explores new business avenues, it remains focused on maintaining growth and improving margins in the coming quarters. The company's diversification strategy and strong order book position it well for future growth in the facility management sector.