Kriti Industries (India) Ltd. (KRITI) AI Stock Analysis

• Market Cap: ₹4.43B
• Dividend Yield: 0.22%
• Average Volume (3M): 1.54K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.93
• Revenue Growth: -19.06%
• EPS Growth: -175.93%
• Country: IN
• Employees: 635
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Construction
• EPS (TTM): -0.09
• Shares Outstanding: 52,696,000
• 10 Day Avg. Volume: 765
• 30 Day Avg. Volume: 1,543
• PEG Ratio: 0.99
• Price to Book (P/B): 2.51
• Price to Sales (P/S): 0.70
• P/FCF Ratio: 192.83
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: ₹74.00 ▼(-7.97% Downside)
• Action: Reiterated Date: 12/02/25
• Date: Action: Reiterated 12/02/25

Kriti Industries faces significant challenges, primarily driven by weak financial performance and bearish technical indicators. The negative P/E ratio and low dividend yield further highlight valuation concerns. The stock's current downtrend and oversold technical indicators suggest caution for potential investors.

Positive Factors

Essential end-markets and distribution

Kriti supplies plumbing, water management and irrigation piping used in essential construction and agriculture sectors. Brand-owned products sold through distributor and project channels provide recurring demand and diversification, supporting stable revenue baselines and resilience over months.

Return to positive free cash flow

A shift back to positive free cash flow indicates the company can generate excess cash after capex. This improves ability to fund working capital and service debt without external financing, enhancing financial flexibility and supporting operational stability over the medium term.

Manageable leverage and growing equity base

Moderate debt levels and an expanding equity base provide a cushion against shocks and room for incremental investment. Manageable leverage supports credit flexibility and lowers refinancing risk, which aids durability while profitability issues are addressed.

Negative Factors

Sharp revenue contraction

A ~25% revenue decline materially reduces scale and capacity utilization, pressuring fixed-cost absorption and pricing power. Sustained top-line contraction weakens margins, cash generation and the ability to invest in distribution or product improvements over the next several months.

Negative profitability and operating losses

Negative operating and net margins indicate structural profitability issues, eroding retained earnings and limiting internal funding for growth. Persistent losses increase the risk of cost-cutting or asset sales and constrain long-term competitiveness unless margins improve.

Cash conversion challenges despite FCF

While free cash flow returned positive, weak operating-cash-to-net-income conversion and recent net losses point to volatility in working capital or collections. Poor cash conversion undermines sustainable funding for capex, dividends or debt service over the medium term.

Kriti Industries (India) Ltd. Business Overview & Revenue Model

Company Description

Kriti Industries (India) Limited manufactures and sells plastic products and pipes in India. The company offers RPVC pipes and fittings, casing pipes, PE coils, sprinkler systems, submersible pipes, suction and garden pipes, SWR and drainage pipe and fittings, CPVC and plumb pipes and fittings, water tanks, micro irrigation laterals, RPVC ring fit pipes and fittings, HDPE and MDPE pipes and fittings, PLB telecom ducts, and micro ducts under the Kasta brand. It serves agriculture, building products, micro irrigation, and infrastructure and datacom sectors. The company was incorporated in 1990 and is based in Indore, India. Kriti Industries (India) Limited is a subsidiary of Sakam Trading Private Limited.

How the Company Makes Money

Kriti Industries generates revenue through the production and sale of its core products, including flexible packaging materials and specialty films. The company operates on a B2B model, supplying its products to various industries, which ensures a steady demand for their offerings. Key revenue streams include direct sales to manufacturers in the food and beverage sector, healthcare, and retail markets. Additionally, the company may benefit from long-term contracts and partnerships with major brands, which provide a reliable source of income. Factors such as increasing demand for sustainable packaging solutions and advancements in manufacturing technology further contribute to the company's revenue growth.

Kriti Industries (India) Ltd. Financial Statement Overview

Summary

Kriti Industries exhibits a mixed financial performance with challenges in maintaining consistent profitability and revenue growth. The balance sheet indicates moderate leverage and potential stability, but recent income statement trends and cash conversion issues raise concerns. The company needs to address profitability and cash flow conversion to enhance financial health.

Income Statement

The income statement reflects fluctuating performance over the years. Revenue growth has been inconsistent with a recent decline, and the net profit margin turned negative in 2025, highlighting profitability issues. Gross profit margin remained stable but relatively low for the industry. A negative EBIT margin in the latest period indicates operating challenges.

Balance Sheet

The balance sheet shows moderate leverage with a debt-to-equity ratio that fluctuates but remains within manageable levels. However, equity ratio improvements are offset by declining return on equity, reflecting profitability issues. The company's equity base has grown, indicating potential stability, but there are risks associated with recent profitability declines.

Cash Flow

Cash flow analysis reveals a return to positive free cash flow after a negative period, indicating potential recovery in cash generation. However, the operating cash flow to net income ratio suggests challenges in converting profits into cash, especially with recent net losses. Overall cash flow stability is moderate with some growth in operating cash flow over time.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	6.89B	7.22B	8.67B	7.32B	5.45B	5.89B
Gross Profit	1.46B	1.63B	1.70B	774.31M	1.01B	1.39B
EBITDA	225.65M	319.65M	594.68M	-74.62M	385.61M	675.13M
Net Income	-108.51M	-42.75M	219.30M	-230.06M	199.32M	360.57M
Balance Sheet
Total Assets	0.00	4.72B	4.54B	4.11B	4.09B	3.65B
Cash, Cash Equivalents and Short-Term Investments	1.92M	286.66M	2.98M	632.00K	1.52M	210.00K
Total Debt	0.00	1.00B	1.28B	1.20B	1.02B	808.56M
Total Liabilities	-2.02B	2.70B	3.02B	2.81B	2.55B	2.30B
Stockholders Equity	2.02B	2.02B	1.52B	1.30B	1.54B	1.34B
Cash Flow
Free Cash Flow	0.00	26.27M	183.04M	-31.76M	-143.08M	202.15M
Operating Cash Flow	0.00	337.68M	584.29M	268.14M	40.28M	295.12M
Investing Cash Flow	0.00	-365.62M	-458.95M	-306.65M	-70.21M	-139.88M
Financing Cash Flow	0.00	25.81M	-123.00M	37.63M	31.23M	-155.51M

Kriti Industries (India) Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 80.41
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KRITI, the sentiment is Positive. The current price of 80.41 is below the 20-day moving average (MA) of 83.04, below the 50-day MA of 81.52, and below the 200-day MA of 120.03, indicating a neutral trend. The MACD of -0.63 indicates Positive momentum. The RSI at 54.32 is Neutral, neither overbought nor oversold. The STOCH value of 33.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:KRITI.

Kriti Industries (India) Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HINDCOMPOS	68 Neutral	₹6.06B	23.88	―	0.46%	13.92%	-8.06%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
VISAKAIND	59 Neutral	₹5.15B	79.94	―	0.74%	6.79%	―
VINYLINDIA	58 Neutral	₹3.80B	24.62	―	2.90%	-1.72%	-19.99%
CHEMCON	57 Neutral	₹5.77B	36.57	―	―	2.76%	30.68%
EVERESTIND	49 Neutral	₹6.10B	-5.44	―	0.50%	-3.11%	-331.77%
KRITI	44 Neutral	₹4.43B	-229.02	―	0.22%	-19.06%	-175.93%

Kriti Industries (India) Ltd. Corporate Events

Kriti Industries Confirms SEBI Demat Compliance for December 2025 Quarter

Kriti Industries (India) Ltd. has reported that, for the quarter ended 31 December 2025, it has complied with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, based on a confirmation from its registrar and share transfer agent, Ankit Consultancy Pvt. Ltd. The company and its registrar confirmed that all physical share certificates received for dematerialisation during the quarter were verified, listed on the appropriate stock exchanges, mutilated and cancelled, and that the depositories’ names were entered as registered owners in the company’s records within the prescribed 15-day period, underscoring ongoing regulatory compliance and orderly handling of shareholder securities.