Krishna Defence & Allied Industries Ltd

NSE: KRISHNADEF

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]

₹1,096

52W: ₹665 — ₹1313

PE 49.2 · Book ₹112 · +879% vs book

Market Cap₹1,637 Cr

Stock P/E49.2Price to Earnings

ROCE24.3%Return on Capital

ROE18.4%Return on Equity

Div. Yield0.09%Face Value ₹10

Strengths

+Company has reduced debt.
+Company is almost debt free.
+Company has delivered good profit growth of 96.4% CAGR over last 5 years
+Debtor days have improved from 93.4 to 35.6 days.

Weaknesses

−Stock is trading at 9.37 times its book value
−Promoter holding has decreased over last 3 years: -13.4%

Shareholding Pattern

Promoters59.96%

FIIs0.61%

DIIs2.06%

Public37.37%

Category	Mar 2024	May 2024	Sep 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	68.33%	62.27%▼6.1	62.27%	62.27%	59.96%▼2.3	60.02%▲0.1	60.02%	59.96%▼0.1
FIIs	0%	0%	0.01%▲0.0	0.04%▲0.0	0.04%	0.24%▲0.2	0.16%▼0.1	0.61%▲0.4
DIIs	0%	0%	0%	0%	0%	0.68%▲0.7	1.2%▲0.5	2.06%▲0.9
Public	31.67%	37.73%▲6.1	37.73%	37.7%▼0.0	40.01%▲2.3	39.07%▼0.9	38.62%▼0.5	37.37%▼1.3

Financial Statements

Metric	Dec 2024	Sep 2025	Dec 2025
Sales	52	48	64
Expenses	46	39	49
Operating Profit	6	9	14
OPM %	11%	19%	22%
Net Profit	4	7	10
EPS ₹	2.75	4.6	6.82

AI Insights

Revenue Trend

Mar 2025 revenue at ₹194Cr, up 83% YoY. OPM at 16%.

Debt Position

Borrowings at ₹1Cr. Debt-to-equity ratio: 0.01x. Healthy balance sheet.

Capex Cycle

CWIP at ₹4Cr (18% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 2.06% (+2.06pp change). FIIs: 0.61% (+0.61pp change). Promoters hold 59.96%.

Margin & Efficiency

ROCE improving from 0% (Mar 2019) to 24% (Mar 2025). Working capital days: 137.

Valuation

PE 49.2x with 24.3% ROCE. Price is 879% above book value of ₹112. Dividend yield: 0.09%.