Diversified · Founded 1990 · www.kryptongroup.com · BSE 523550 · · ISIN INE951B01014
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Business
Krypton Industries Ltd. is an Indian diversified company primarily engaged in the manufacturing and trading of bicycle tyres and tubes, as well as various plastic products. Its core business model revolves around producing these goods for the domestic market, catering to both consumer (bicycle parts) and industrial/commercial (plastic items) needs. The company makes money through the sale of its manufactured products to distributors, retailers, and direct customers.
Revenue Mix
The company's primary business segments include:
Tyres & Tubes: This segment focuses on the production of bicycle tyres, tubes, and possibly other allied rubber products.
Plastics: This segment encompasses the manufacturing of various plastic products, which can range from consumer goods to industrial components.
Specific revenue contributions from each segment are not readily available in public domain information.
Industry
The company operates in competitive industries. The bicycle tyre and tube market in India is characterized by the presence of both organized and unorganized players, with varying quality and price points. The plastics industry is also highly fragmented and competitive, driven by raw material costs and product innovation. Krypton Industries is likely positioned as a mid-tier or niche player within these segments, possibly focusing on cost-effective products for the mass market rather than premium segments, and may have regional strengths.
MOAT
Krypton Industries Ltd. appears to have a limited durable competitive advantage.
Cost Advantage: Potentially has some operational efficiencies or a cost-effective manufacturing base, allowing it to compete on price in its segments.
Distribution Network: May possess an established distribution network for its bicycle tyres and tubes, particularly in specific regions of India, which can be a barrier to entry for new players.
Brand: While its brands may be recognized in specific markets, it is unlikely to possess a premium brand that commands significant pricing power or high customer loyalty across its diverse offerings.
Overall, deep moats like strong network effects or high switching costs are generally not applicable to its product categories.
Growth Drivers
Increasing Urbanization & Income Levels: Rising disposable incomes and urbanization in India can drive demand for both plastic products (consumer goods, construction) and bicycles (recreational, transport).
Government Focus on Infrastructure & Manufacturing: Initiatives like "Make in India" and infrastructure development can boost demand for industrial plastic products and create a more favorable manufacturing environment.
Growth in Bicycle Industry: While not a premium segment, the basic bicycle market in India remains substantial, driven by affordability and utility.
Product Diversification: Expansion into new, higher-margin plastic products or specialized rubber products could open new growth avenues.
Risks
Raw Material Price Volatility: The prices of rubber and polymers (key raw materials for tyres/tubes and plastics, respectively) are subject to global commodity price fluctuations, impacting profitability.
Intense Competition: Both the bicycle tyre/tube and plastics industries are highly competitive, leading to pricing pressures and potentially impacting market share and margins.
Economic Slowdown: A general economic slowdown in India could reduce consumer spending on discretionary items and industrial demand for plastic products.
Import Competition: Cheaper imports from countries like China can pose a threat to domestic manufacturers.
Technological Changes: While less impactful for basic products, shifts in manufacturing technologies or materials could require significant capital expenditure.
Management & Ownership
Krypton Industries Ltd. is typically a promoter-driven company, common in the Indian corporate landscape, with the founding family or group holding a significant ownership stake and exercising control over strategic decisions. The management team likely comprises a mix of promoter-representatives and professional executives. The ownership structure would typically involve a substantial promoter holding and a public float comprising institutional and retail investors.
Outlook
Krypton Industries Ltd. is a diversified entity benefiting from India's broad economic growth. Its exposure to basic consumer needs (bicycles) and industrial inputs (plastics) provides a degree of resilience, as these sectors are generally foundational. The company's growth hinges on its ability to navigate intense competition, manage raw material price volatility effectively, and capitalize on domestic consumption trends and infrastructure development. While it operates in high-volume, potentially low-margin segments, operational efficiency and a well-established distribution network in its niches could support steady, albeit potentially moderate, growth. However, a lack of strong proprietary technology or brand premium means it remains susceptible to competitive pressures and external economic shocks.
Price goes above X
Price falls below X
PE goes above X
PE falls below X
| #(Fig in Cr.) | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 14 | 11 | 11 | 11 | 13 | 11 | 12 | 13 | 16 | 11 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Total Income | 14 | 11 | 11 | 11 | 13 | 11 | 12 | 13 | 17 | 11 |
| Total Expenditure | 12 | 10 | 10 | 10 | 12 | 9 | 10 | 11 | 14 | 9 |
| Operating Profit | 2 | 1 | 2 | 1 | 2 | 1 | 2 | 2 | 3 | 2 |
| Interest | 1 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 |
| Profit Before Tax | 1 | 1 | 1 | 0 | 0 | 1 | 1 | 1 | 2 | 1 |
| Provision for Tax | 1 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 0 |
| Profit After Tax | 0 | 0 | 0 | 0 | -1 | 1 | 1 | 1 | 1 | 1 |
| Adjustments | 0 | 0 | -0 | 0 | -0 | -0 | 0 | -0 | 0 | 0 |
| Profit After Adjustments | 0 | 0 | 0 | 0 | -1 | 1 | 1 | 1 | 1 | 1 |
| Adjusted Earnings Per Share | 0.2 | 0.3 | 0.3 | 0.1 | -0.6 | 0.4 | 0.4 | 0.5 | 0.5 | 0.5 |
| #(Fig in Cr.) | Mar 2011 | Mar 2012 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 36 | 44 | 29 | 43 | 44 | 33 | 43 | 47 | 52 | 52 |
| Other Income | 1 | 1 | 1 | 3 | 4 | 1 | 1 | 1 | 1 | 1 |
| Total Income | 37 | 46 | 29 | 45 | 48 | 34 | 43 | 48 | 52 | 53 |
| Total Expenditure | 32 | 42 | 26 | 39 | 39 | 30 | 38 | 42 | 45 | 44 |
| Operating Profit | 5 | 3 | 4 | 6 | 9 | 4 | 5 | 6 | 8 | 9 |
| Interest | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 2 | 1 |
| Depreciation | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | -4 | 0 | 0 | 0 | -0 | 0 |
| Profit Before Tax | 2 | 1 | 0 | 2 | 1 | 1 | 2 | 2 | 4 | 5 |
| Provision for Tax | 1 | 0 | -0 | 0 | 1 | -0 | 1 | 1 | 1 | 1 |
| Profit After Tax | 1 | 0 | 0 | 2 | 1 | 1 | 1 | 0 | 3 | 4 |
| Adjustments | -0 | -0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 1 | 0 | 0 | 2 | 1 | 1 | 1 | 0 | 3 | 4 |
| Adjusted Earnings Per Share | 2.2 | 0.1 | 0.3 | 1.2 | 0.5 | 0.7 | 0.8 | 0.3 | 1.8 | 1.9 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 11% | 16% | 4% | 0% |
| Operating Profit CAGR | 33% | 26% | 6% | 0% |
| PAT CAGR | 0% | 44% | 8% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -37% | 11% | 20% | 7% |
| ROE Average | 8% | 4% | 4% | 4% |
| ROCE Average | 11% | 9% | 8% | 8% |
| #(Fig in Cr.) | Mar 2011 | Mar 2012 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 14 | 25 | 27 | 29 | 30 | 31 | 32 | 31 | 32 |
| Minority's Interest | 1 | 1 | 0 | 0 | 0 | -0 | -0 | 0 | 0 |
| Borrowings | 3 | 3 | 4 | 6 | 5 | 7 | 7 | 7 | 7 |
| Other Non-Current Liabilities | 1 | 1 | 2 | 1 | 2 | 2 | 2 | 3 | 3 |
| Total Current Liabilities | 20 | 17 | 18 | 19 | 14 | 14 | 16 | 20 | 21 |
| Total Liabilities | 40 | 48 | 52 | 55 | 51 | 54 | 57 | 61 | 63 |
| Fixed Assets | 14 | 15 | 16 | 16 | 16 | 16 | 15 | 17 | 17 |
| Other Non-Current Assets | 4 | 6 | 2 | 3 | 3 | 4 | 5 | 7 | 7 |
| Total Current Assets | 23 | 26 | 33 | 36 | 32 | 34 | 37 | 38 | 39 |
| Total Assets | 40 | 48 | 52 | 55 | 51 | 54 | 57 | 61 | 63 |
| #(Fig in Cr.) | Mar 2011 | Mar 2012 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 1 | 1 | 2 | 1 | 2 | 1 | 1 | 0 | 0 |
| Cash Flow from Operating Activities | 2 | 3 | 2 | 5 | 6 | -0 | 0 | 5 | 12 |
| Cash Flow from Investing Activities | -1 | -6 | -1 | -2 | -1 | -1 | -1 | -7 | -6 |
| Cash Flow from Financing Activities | -1 | 7 | -1 | -1 | -6 | 2 | -0 | 1 | -3 |
| Net Cash Inflow / Outflow | 0 | 4 | -0 | 2 | -1 | 0 | -1 | -0 | 3 |
| Closing Cash & Cash Equivalent | 1 | 6 | 1 | 2 | 1 | 1 | 0 | 0 | 3 |
| # | Mar 2011 | Mar 2012 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 2.17 | 0.09 | 0.34 | 1.17 | 0.48 | 0.7 | 0.8 | 0.27 | 1.79 |
| CEPS(Rs) | 4.87 | 1.15 | 1.5 | 2.37 | 1.86 | 1.85 | 1.88 | 1.31 | 2.87 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 |
| Book NAV/Share(Rs) | 33.21 | 21.44 | 18.7 | 19.83 | 20.33 | 21.06 | 21.88 | 20.92 | 21.76 |
| Core EBITDA Margin(%) | 11.1 | 4.93 | 9.69 | 7.53 | 10.83 | 11.11 | 10.72 | 10.84 | 13.12 |
| EBIT Margin(%) | 9.88 | 5.25 | 6.59 | 9.79 | 7.24 | 7.73 | 8.19 | 9.05 | 11.55 |
| Pre Tax Margin(%) | 4.58 | 1.39 | 0.25 | 5.05 | 2.74 | 2.86 | 4.03 | 3.71 | 7.87 |
| PAT Margin (%) | 2.58 | 0.45 | 1.66 | 4.42 | 1.57 | 3.01 | 2.66 | 0.84 | 5.08 |
| Cash Profit Margin (%) | 5.69 | 2.95 | 7.71 | 8.18 | 6.26 | 8.17 | 6.47 | 4.1 | 8.16 |
| ROA(%) | 2.5 | 0.46 | 0.95 | 3.52 | 1.29 | 1.92 | 2.06 | 0.67 | 4.24 |
| ROE(%) | 7 | 1.04 | 1.81 | 6.65 | 2.32 | 3.3 | 3.6 | 1.25 | 8.36 |
| ROCE(%) | 12.96 | 7.1 | 4.66 | 9.5 | 7.35 | 5.95 | 7.44 | 8.45 | 11.33 |
| Receivable days | 74.52 | 60.46 | 95.12 | 59.43 | 60.03 | 80.24 | 66.59 | 61.16 | 56.47 |
| Inventory Days | 95.38 | 94.83 | 193.74 | 159.66 | 138.54 | 166.77 | 141 | 131.2 | 108.13 |
| Payable days | 86.48 | 68.12 | 125.29 | 61.06 | 90.01 | 118.02 | 77.65 | 48.09 | 29.76 |
| PER(x) | 7.63 | 160.64 | 18.37 | 7.87 | 45.22 | 28.35 | 40.85 | 171.98 | 15.71 |
| Price/Book(x) | 0.5 | 0.68 | 0.33 | 0.46 | 1.06 | 0.94 | 1.5 | 2.2 | 1.29 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 3.05 | 2.18 | 0 |
| EV/Net Sales(x) | 0.56 | 0.54 | 0.81 | 0.62 | 0.95 | 1.25 | 1.49 | 1.81 | 1.14 |
| EV/Core EBITDA(x) | 4.28 | 7.09 | 6.42 | 4.58 | 4.69 | 9.73 | 12.42 | 14.68 | 7.75 |
| Net Sales Growth(%) | 16.18 | 22.11 | -35.88 | 49.32 | 2.42 | -23.68 | 28.45 | 9.57 | 10.21 |
| EBIT Growth(%) | 24.14 | -34.87 | -20.71 | 121.91 | -24.26 | -18.48 | 36.01 | 21.19 | 40.62 |
| PAT Growth(%) | 26.93 | -78.65 | 133.85 | 296.57 | -63.6 | 46.36 | 13.35 | -65.43 | 567.57 |
| EPS Growth(%) | 74.38 | -95.84 | 273.5 | 247.2 | -59.16 | 45.59 | 15.24 | -66.65 | 568.35 |
| Debt/Equity(x) | 1.04 | 0.51 | 0.56 | 0.54 | 0.37 | 0.47 | 0.51 | 0.69 | 0.67 |
| Current Ratio(x) | 1.14 | 1.55 | 1.82 | 1.94 | 2.21 | 2.49 | 2.28 | 1.89 | 1.87 |
| Quick Ratio(x) | 0.54 | 0.87 | 0.79 | 0.98 | 1.23 | 1.38 | 1.25 | 1.07 | 1.2 |
| Interest Cover(x) | 1.86 | 1.36 | 1.04 | 2.07 | 1.61 | 1.59 | 1.97 | 1.69 | 3.13 |
| Total Debt/Mcap(x) | 0.77 | 0.76 | 1.69 | 1.16 | 0.35 | 0.5 | 0.34 | 0.31 | 0.52 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 26.54 | 26.54 | 26.45 | 26.22 | 26.22 | 26.27 | 26.27 | 26.29 | 26.29 | 26.29 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
| Public | 73.44 | 73.44 | 73.53 | 73.76 | 73.76 | 73.71 | 73.71 | 73.69 | 73.69 | 73.69 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 1.08 | 1.08 | 1.08 | 1.08 | 1.08 | 1.08 | 1.08 | 1.08 | 1.08 | 1.08 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.47 | 1.47 | 1.47 | 1.47 | 1.47 | 1.47 | 1.47 | 1.47 | 1.47 | 1.47 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +11% | +16% | +4% | — |
| Operating Profit CAGR | +33% | +26% | +6% | — |
| PAT CAGR | — | +44% | +8% | — |
| Share Price CAGR | -37% | +11% | +20% | +7% |
| ROE Average | +8% | +4% | +4% | +4% |
| ROCE Average | +11% | +9% | +8% | +8% |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 26.54 | 26.54 | 26.45 | 26.22 | 26.22 | 26.27 | 26.27 | 26.29 | 26.29 | 26.29 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
| Public | 73.44 | 73.44 | 73.53 | 73.76 | 73.76 | 73.71 | 73.71 | 73.69 | 73.69 | 73.69 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 1.08 | 1.08 | 1.08 | 1.08 | 1.08 | 1.08 | 1.08 | 1.08 | 1.08 | 1.08 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.47 | 1.47 | 1.47 | 1.47 | 1.47 | 1.47 | 1.47 | 1.47 | 1.47 | 1.47 |
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