WEBSITE BSE:0 NSE: Inc. Year: 2017 Industry: Steel & Iron Products My Bucket: Add Stock
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1. Business Overview
Krishca Strapping Solutions Ltd. is engaged in the manufacturing and sale of various strapping solutions. Its core business involves producing strapping materials, primarily used for packaging, bundling, and securing goods in industries such as steel, textiles, logistics, and general manufacturing. The company likely offers products such as steel strapping, PET strapping, polypropylene strapping, and potentially related tools and accessories. It makes money by selling these strapping materials and solutions directly to industrial clients or through a distribution network.
2. Key Segments / Revenue Mix
While specific detailed segment breakdowns are not publicly available, given its name and sector, Krishca's revenue would primarily be derived from the sale of:
Steel Strapping: High-strength strapping used for heavy-duty applications.
Plastic Strapping (PET/PP): Lighter-weight, weather-resistant strapping for various packaging needs.
Related Accessories & Tools: Possibly strapping dispensers, sealers, tensioners, and seals.
The business is likely largely integrated, focusing on the production and distribution of these core strapping products.
3. Industry & Positioning
The company operates within the Steel & Iron Products sector, specifically targeting the industrial packaging and material handling market. This industry is characterized by the need for reliable, cost-effective solutions for securing diverse products during storage and transit. The market for strapping solutions in India is competitive, with a mix of organized and unorganized players, including domestic manufacturers and importers. Krishca likely positions itself as a specialized domestic player offering a range of strapping solutions, competing on factors like product quality, customization capabilities, pricing, and distribution efficiency.
4. Competitive Advantage (Moat)
Krishca's potential competitive advantages could include:
Cost Efficiency/Scale: If it operates with significant production volumes, it might achieve economies of scale in manufacturing, leading to cost leadership.
Distribution Network: A well-established and efficient distribution network across India can provide a logistical advantage and wider market reach.
Product Customization/Quality: Ability to tailor strapping solutions to specific customer needs or consistently deliver high-quality products can foster customer loyalty in industrial B2B settings.
Supplier Relationships: Strong relationships with raw material suppliers (e.g., steel coil manufacturers) could ensure consistent supply and favorable pricing.
5. Growth Drivers
Key factors that could drive Krishca's growth over the next 3-5 years include:
Growth in Manufacturing & Industrial Output: Increased production across various industries (steel, automotive, infrastructure, textiles) will directly boost demand for strapping solutions.
E-commerce & Logistics Growth: The expansion of e-commerce and the overall logistics sector in India necessitate efficient and secure packaging.
Infrastructure Development: Large-scale infrastructure projects require significant material handling and packaging solutions.
Market Share Expansion: Gaining market share from unorganized players or competitors through product innovation, better service, or competitive pricing.
Export Opportunities: Expanding into international markets for strapping products.
6. Risks
Raw Material Price Volatility: Fluctuations in the prices of steel, PET granules, and other inputs directly impact production costs and profitability.
Intense Competition: The presence of numerous domestic and international players can put pressure on pricing and margins.
Economic Downturn: A slowdown in industrial activity or general economic recession would reduce demand for packaging and strapping solutions.
Technological Obsolescence: While strapping is a mature product, innovations in packaging materials or automation could necessitate R&D investment.
Supply Chain Disruptions: Issues in raw material sourcing or logistics can impact production and delivery schedules.
7. Management & Ownership
Krishca Strapping Solutions Ltd. is typically a promoter-led company, common in India, where the founding family or individuals maintain significant ownership and control. Management quality would depend on their experience in the steel, packaging, and manufacturing sectors, as well as their strategic vision for growth and operational efficiency. The ownership structure likely comprises the promoter group holding a majority stake, with the remaining shares held by institutional investors and the public.
8. Outlook
Krishca Strapping Solutions operates in an essential, albeit competitive, industrial segment. The outlook is balanced, influenced by India's continued industrialization and growth in e-commerce and logistics, which provide a foundational demand for strapping solutions. The company's ability to maintain cost efficiency, ensure product quality, and expand its distribution network will be critical for capitalizing on these trends. However, profitability can be sensitive to raw material price volatility and intense competition, requiring agile management of input costs and pricing strategies. Long-term success will hinge on its capacity to innovate, optimize operations, and effectively navigate the cyclical nature of industrial demand.
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Market Cap ₹265 Cr.
Stock P/E 22.9
P/B 2.3
Current Price ₹178.3
Book Value ₹ 76.7
Face Value 10
52W High ₹300
Dividend Yield 0%
52W Low ₹ 138
Price goes above X
Price falls below X
PE goes above X
PE falls below X
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| #(Fig in Cr.) |
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| Net Sales |
| Other Income |
| Total Income |
| Total Expenditure |
| Operating Profit |
| Interest |
| Depreciation |
| Exceptional Income / Expenses |
| Profit Before Tax |
| Provision for Tax |
| Profit After Tax |
| Adjustments |
| Profit After Adjustments |
| Adjusted Earnings Per Share |
| #(Fig in Cr.) | Mar 2025 | TTM |
|---|---|---|
| Net Sales | 149 | |
| Other Income | 2 | |
| Total Income | 151 | |
| Total Expenditure | 127 | |
| Operating Profit | 24 | |
| Interest | 4 | |
| Depreciation | 5 | |
| Exceptional Income / Expenses | 0 | |
| Profit Before Tax | 16 | |
| Provision for Tax | 4 | |
| Profit After Tax | 12 | |
| Adjustments | 0 | |
| Profit After Adjustments | 12 | |
| Adjusted Earnings Per Share | 8.2 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | 0% | 0% | 0% |
| Operating Profit CAGR | 0% | 0% | 0% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -26% | NA% | NA% | NA% |
| ROE Average | 12% | 12% | 12% | 12% |
| ROCE Average | 14% | 14% | 14% | 14% |
| #(Fig in Cr.) | Mar 2025 |
|---|---|
| Shareholder's Funds | 103 |
| Minority's Interest | -0 |
| Borrowings | 4 |
| Other Non-Current Liabilities | 0 |
| Total Current Liabilities | 53 |
| Total Liabilities | 160 |
| Fixed Assets | 29 |
| Other Non-Current Assets | 36 |
| Total Current Assets | 95 |
| Total Assets | 160 |
| #(Fig in Cr.) | Mar 2025 |
|---|---|
| Opening Cash & Cash Equivalents | 1 |
| Cash Flow from Operating Activities | -20 |
| Cash Flow from Investing Activities | -42 |
| Cash Flow from Financing Activities | 62 |
| Net Cash Inflow / Outflow | -0 |
| Closing Cash & Cash Equivalent | 1 |
| # | Mar 2025 |
|---|---|
| Earnings Per Share (Rs) | 8.18 |
| CEPS(Rs) | 11.53 |
| DPS(Rs) | 0 |
| Book NAV/Share(Rs) | 68.96 |
| Core EBITDA Margin(%) | 15.09 |
| EBIT Margin(%) | 13.16 |
| Pre Tax Margin(%) | 10.61 |
| PAT Margin (%) | 7.77 |
| Cash Profit Margin (%) | 10.96 |
| ROA(%) | 7.26 |
| ROE(%) | 11.85 |
| ROCE(%) | 14.46 |
| Receivable days | 101.79 |
| Inventory Days | 69.19 |
| Payable days | 29.75 |
| PER(x) | 26.89 |
| Price/Book(x) | 3.19 |
| Dividend Yield(%) | 0 |
| EV/Net Sales(x) | 2.31 |
| EV/Core EBITDA(x) | 14.14 |
| Net Sales Growth(%) | 0 |
| EBIT Growth(%) | 0 |
| PAT Growth(%) | 0 |
| EPS Growth(%) | 0 |
| Debt/Equity(x) | 0.34 |
| Current Ratio(x) | 1.77 |
| Quick Ratio(x) | 1.24 |
| Interest Cover(x) | 5.17 |
| Total Debt/Mcap(x) | 0.11 |
| # | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Promoter | 62.59 | 62.59 | 51.86 | 51.86 | 51.86 | 52.69 |
| FII | 0.78 | 0 | 0.02 | 0.01 | 0 | 0 |
| DII | 0 | 0 | 0 | 2.33 | 2.35 | 1.77 |
| Public | 36.63 | 37.41 | 48.13 | 45.81 | 45.8 | 45.54 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Promoter | 0.76 | 0.76 | 0.74 | 0.74 | 0.74 | 0.76 |
| FII | 0.01 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0.03 | 0.03 | 0.03 |
| Public | 0.44 | 0.45 | 0.68 | 0.65 | 0.65 | 0.66 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.21 | 1.21 | 1.42 | 1.42 | 1.42 | 1.44 |
* The pros and cons are machine generated.
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