Krishna Defence & Allied Industries Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1,814 Cr
- P/E
- 44.23
- ROE
- 23.71%
- PEG
- 0.47
- Price to sales
- 7.74
- Debt to equity
- 0.01
- 52W high / low
- ₹1,370 / ₹673
- Sales growth (5Y)
- 47.59%
- EBITDA margin
- 23.28%
- Net profit margin
- 15.56%
- Promoter holding
- 55.22%
- Sales (last year)
- ₹234 Cr
Incorporated in 1997, Krishna Defence and Allied Industries Ltd designs, develops, and manufactures a wide range of equipment for defence, security, and dairy segments[1]
Guidance scorecard · Q2 FY27 call
What Krishna Defence & Allied Industries Ltd's management guided
and where it ranks in Aerospace & Defense
Aerospace & Defense
RevenueQ4 FY26 call
20–40%- Krishna Defence & Allied Industries targets a 30% CAGR revenue growth over the next 3-5 years.
- Growth is expected primarily from the defence segment, particularly naval projects and the existing product mix.
- Product mix will remain similar, with about 60% revenue from Bulb bars, 15-20% from armoured steel profiles, and 15-20% from weld consumables.
- New products like smart ammunition and autonomous underwater vehicles (AUV) are under development.
- Order pipelines for naval projects (next-gen corvettes, LPDs, MCM vessels) are strong and expected to materialize, supporting growth targets.
2 more points from Krishna Defence & Allied Industries Ltd's call on revenue
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MarginsQ4 FY26 call
Up 0–2%See what Krishna Defence & Allied Industries Ltd said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- The company made major CapEx investments in the Chennai plant and land acquired in Halol.
- A joining shed of about 50,000 square feet was purchased for capacity expansion.
- Manufacturing at the joint venture (JV) with VABO has started with trial production; further traction is expected this financial year.
- The JV with VABO requires additional funding of about INR 4-5 crores from Krishna Defence, funded internally without debt.
- No further stake increase is planned in the JV beyond 51%.
- The CapEx related to the JV will be recorded on the JV’s books, not standalone.
2 more points from Krishna Defence & Allied Industries Ltd's call on capex
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FundraisingQ4 FY26 call
None plannedSee what Krishna Defence & Allied Industries Ltd said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
Rising- Closing order book as of March 31, 2026: INR 100-103 crores (pending/unexecuted orders).
- Order pipeline as of the same date: INR 200-220 crores, with expectations that much of this will materialize in the first half of FY27.
- Total active order book including pipeline around INR 300-320 crores as of March 2026.
- FY26 executed orders approximately INR 244 crores; starting order book INR 190 crores.
- Management aims for 30%+ year-on-year growth for the next three years.
2 more points from Krishna Defence & Allied Industries Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Aerospace & Defense
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Aerospace & Defense companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹5,744 Cr | 216.9 | |
| 2 | 40%+ | Up 0–2% | ₹1,197 Cr | 55.6 | |
| 3 | 40%+ | Flat | ₹17,585 Cr | — | |
| 4 | 40%+ | Flat | ₹15,942 Cr | 131.4 | |
| 5 | 40%+ | Flat | ₹9,001 Cr | 274.4 | |
| 6 | 40%+ | Flat | ₹8,041 Cr | 111.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Aerospace & Defense rankingFinancials of Krishna Defence & Allied Industries Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Krishna Defence & Allied Industries Ltd
Shareholding breakup across reporting periods.
| Mar 2023 | Sep 2023 | Mar 2024 | May 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 73.37% | 73.38% | 68.33% | 62.27% | 62.27% | 62.27% | 59.96% | 60.02% | 60.02% | 59.96% | 59.90% | 55.22% |
| FIIs + | 0.00% | 0.00% | 0.00% | 0.00% | 0.01% | 0.04% | 0.04% | 0.24% | 0.16% | 0.61% | 1.36% | 0.78% |
| DIIs + | 0.00% | 0.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.68% | 1.20% | 2.06% | 1.32% | 3.62% |
| Public + | 26.62% | 26.35% | 31.67% | 37.73% | 37.73% | 37.70% | 40.01% | 39.07% | 38.62% | 37.37% | 37.41% | 40.39% |
| No. of Shareholders | 556 | 831 | 1,303 | 1,712 | 2,929 | 4,131 | 4,137 | 4,656 | 5,409 | 12,910 | 18,720 | 28,320 |
Financials of Krishna Defence & Allied Industries Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 52 | 46 | 68 | 48 | 64 | 65 | 58 | 75 |
| Expenses + | 46 | 35 | 55 | 39 | 49 | 49 | 42 | 55 |
| Operating Profit | 6 | 10 | 13 | 9 | 14 | 16 | 15 | 20 |
| OPM % | 11% | 23% | 19% | 19% | 22% | 25% | 26% | 27% |
| Other Income + | 0 | 1 | 0 | 1 | 1 | 2 | 1 | 2 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 5 | 10 | 12 | 9 | 13 | 17 | 15 | 21 |
| Tax % | 25% | 27% | 25% | 25% | 24% | 26% | 22% | 27% |
| Net Profit + | 4 | 7 | 9 | 7 | 10 | 12 | 12 | 15 |
| EPS in Rs | 2.75 | 5.32 | 6.01 | 4.60 | 6.82 | 8.24 | 7.81 | 10.12 |
Financials of Krishna Defence & Allied Industries Ltd
Profit & Loss
Annual income statement trend
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Sales + | 58 | 25 | 35 | 50 | 63 | 106 | 190 | 245 | 261 |
| Expenses + | 52 | 21 | 30 | 43 | 54 | 90 | 158 | 192 | 196 |
| Operating Profit | 6 | 4 | 5 | 7 | 9 | 16 | 31 | 53 | 66 |
| OPM % | 10% | 16% | 14% | 14% | 14% | 15% | 16% | 22% | 25% |
| Other Income + | 1 | 1 | 1 | 0 | 1 | 1 | 3 | 3 | 5 |
| Interest | 2 | 2 | 2 | 2 | 1 | 2 | 2 | 1 | 0 |
| Depreciation | 1 | 1 | 1 | 2 | 2 | 2 | 3 | 4 | 5 |
| Profit before tax | 3 | 1 | 3 | 4 | 7 | 13 | 30 | 51 | 65 |
| Tax % | 28% | 34% | 26% | 30% | 21% | 26% | 26% | 25% | |
| Net Profit + | 2 | 1 | 2 | 2 | 5 | 10 | 22 | 38 | 49 |
| EPS in Rs | 2.45 | 0.89 | 2.31 | 2.93 | 4.63 | 7.14 | 15.67 | 25.53 | 32.99 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 3% | 5% |
Financials of Krishna Defence & Allied Industries Ltd
Balance Sheet
Capital structure and asset base
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 8 | 11 | 14 | 14 | 15 | 15 |
| Reserves | 11 | 12 | 14 | 16 | 29 | 93 | 117 | 175 | 201 |
| Borrowings + | 27 | 26 | 26 | 23 | 19 | 9 | 10 | 2 | 7 |
| Other Liabilities + | 23 | 20 | 13 | 21 | 25 | 18 | 22 | 21 | 34 |
| Total Liabilities | 66 | 61 | 56 | 68 | 85 | 133 | 164 | 214 | 256 |
| Fixed Assets + | 10 | 10 | 10 | 14 | 12 | 15 | 23 | 34 | 39 |
| CWIP | 0 | 2 | 3 | 0 | 2 | 0 | 2 | 3 | 5 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 7 | 31 |
| Other Assets + | 55 | 49 | 43 | 54 | 70 | 119 | 134 | 170 | 182 |
| Total Assets | 66 | 61 | 56 | 68 | 85 | 133 | 164 | 214 | 256 |
Financials of Krishna Defence & Allied Industries Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 3 | 7 | 2 | 4 | -7 | -3 | -11 | 86 |
| Cash from Investing Activity + | -8 | -4 | -0 | -4 | 1 | -37 | 5 | -92 |
| Cash from Financing Activity + | 5 | -3 | -2 | -1 | 6 | 45 | 1 | 11 |
| Net Cash Flow | -0 | 0 | 0 | -0 | 0 | 5 | -5 | 6 |
| Free Cash Flow | -1 | 4 | -1 | 2 | -10 | -6 | -23 | 66 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 68% | 199% | 47% | 64% | -65% | -3% | -10% | 189% |
Financials of Krishna Defence & Allied Industries Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 199 | 179 | 138 | 161 | 155 | 90 | 36 | 52 |
| Inventory Days | 106 | 1,195 | 343 | 271 | 313 | 210 | 270 | 47 |
| Days Payable | 162 | 622 | 151 | 241 | 248 | 86 | 30 | 19 |
| Cash Conversion Cycle | 143 | 752 | 330 | 191 | 219 | 214 | 276 | 80 |
| Working Capital Days | 54 | 88 | 100 | 19 | 122 | 138 | 140 | 53 |
| ROCE % | 8% | 11% | 12% | 15% | 17% | 24% | 31% |
Guidance history
How Krishna Defence & Allied Industries Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 20–40% | Up 0–2% | Planned | None planned | Rising |
| Q2 FY26 call → | 20–40% | Flat | Planned | Planned | Flat |
| Q4 FY25 call → | 40%+ | Up 0–2% | Planned | None planned | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
77 out of 100 — Strengthening
Over the past year its share price has done better than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +53.3% | 87% |
| Last 6 months | +12.6% | 71% |
| Last 3 months | +1.3% | 69% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Krishna Defence & Allied Industries Ltd: 0.4 × 87 + 0.4 × 71 + 0.2 × 69 = 77.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Krishna Defence & Allied Industries Ltd's management said in earlier quarters
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