Krishna Defence & Allied Industries LtdNSE:KRISHNADEF
Current view Q4 2026
Makes navy steel India once imported - a real engine that grew sales fivefold. But orders in hand have shrunk to under half a year's sales, clouding near-term growth.
Latest exchange filings last 5 · 5 after Q4 2026
- 17 Sep ’26CRISIL reaffirmed BBB/Positive for ₹69 crore long-term and A3+ for short-term facilities. ↗
- 15 Sep ’26Crisil reaffirmed Krishna Defence's ratings: BBB/Positive for ₹69 crore long-term facilities and A3+ short-term facilities. ↗
- 26 Aug ’26Won DRISHTI Challenge on 25 Aug 2026 for specialised defence component development and manufacturing. ↗
- 26 Aug ’26Krishna Defence won India SME Forum Top 50 SMEs award for Fastest Growing SME in Gujarat on 20 Aug 2026. ↗
- 17 Aug ’26Board approved Q1 FY27 standalone and consolidated results and promoted Sagar Patel as General Manager on 12 Aug 2026. ↗
Exchange filings, with the company's own one-line summary, read off the same page as the figures. Screener publishes only the most recent few, so this is the last 5 — not everything filed since your note, and a quiet-looking list is not proof of a quiet quarter. A filing is marked new when it is dated after the end of the quarter your note covers. Not scored, and not a judgement — a routine repayment notice and a takeover sit in the same list.
AI concall report · Q4 2026
The full earnings-call read behind this view — what management promised, what they delivered, and the earning trigger.
Growth Q4 2026
| Metric | This year vs lastYoY · vs Q4 2025 | vs the quarter beforeQoQ, sequential · vs Q3 2026 | 3-year yearly average3Y CAGR · compounded | 5-year yearly average5Y CAGR · compounded |
|---|---|---|---|---|
| Sales | ▲ +41.3% | +1.6% | +56.4% | +47.6% |
| Operating profit | ▲ +60.0% | +14.3% | +77.6% | +56.6% |
| EPS | ▲ +62.8% | +26.6% | +81.5% | +40.8% |
| PAT | ▲ +85.7% | +30.0% | — | — |
Tinted rows drive the Tier. Tier = the weaker of YoY Sales and YoY PAT growth. Here the weaker is Sales at +41.3%, which is ≥ 20% → Tier 1.
QoQ is sequential, not a trend. For most Indian companies the March quarter is seasonally the largest, so a June-quarter fall against it is a calendar effect. Only the YoY column feeds the Tier.
Multibagger potential
Good65/100
⚠ Your own view on this company is Negative. Read the note above first — this score reads the figures, and it has not read the concall.
Cheap, and growing fast. Profit per share grew 60% a year, while the price-tag on its earnings actually got smaller. That gap — real growth nobody has paid up for — is exactly what this score looks for.
₹996 → ₹1,992 needs the P/E at 17× — it is 36× today, and has ranged 12× to 149× over the last 5 years. The rest would come from earnings growing as they have.
What you pay for its profitlog scale · 5-year range
Tripling needs 26× — inside its 5-year range, under the 53× median.
At ₹1,483 the price-tag on its earnings reaches the 53× it is being projected toward — the point where being cheap against that yardstick is used up.
De-rating while below every EMA — value-trap risk, not a coiled spring.
How this is calculated
This is arithmetic, not a forecast — Return = ΔEPS × ΔMultiple. It says what would have to be true, not how likely it is, and "earnings keep growing at this rate for three more years" is the assumption doing the most work. This is a small-cap at ₹1,498 cr, so the odds of a re-rate are not fighting its own size.
Growth rate used: 60.0% — the weakest of EPS / Sales / Op-profit from 3-year EPS CAGR, capped at 60%. Latest quarter reads 60%.
How it compares with its rivals Defence · 6 of 33 listed
These are the industry's largest names rather than companies of its own size, so the columns are worth reading straight across — a ranking against them would only be restating the size gap.
| Company | Price | P/E | Size | ROCE | Profitlast qtr | Saleslast qtr |
|---|---|---|---|---|---|---|
| Krishna Defence | ₹1,013 | 35.0× | ₹1,514 Cr | 30.7% | +20.7% | −15.2% |
| Hind.Aeronautics | ₹4,863 | 34.8× | ₹3.25 L Cr | 32.0% | +14.9% | +14.4% |
| Bharat Electron | ₹398 | 47.4× | ₹2.91 L Cr | 36.4% | +8.7% | +24.9% |
| Bharat Dynamics | ₹1,176 | 82.8× | ₹43,099 Cr | 13.9% | +547.4% | +130.8% |
| Garden Reach Sh. | ₹2,390 | 34.2× | ₹27,377 Cr | 42.8% | +43.8% | +38.5% |
| Data Pattern | ₹4,550 | 94.3× | ₹25,473 Cr | 21.9% | −13.5% | +16.8% |
Screener's own peer group, from the request already made for the industry P/E. It serves the industry's largest names by market cap, not companies of a similar size, so treat this as context rather than a like-for-like table; this company is always shown. On a phone the price, size and sales columns are dropped rather than pushed off the edge. Not part of the score.
Business quality to Jun 2026
| Are the margins widening? | yes — widening, and steadily | operating margin 11% → 26% over 18 months |
|---|---|---|
| Did the profit turn into cash? | under half — much of the profit is tied up | 189% last year, 59% over three · free cash flow ₹66 cr, positive in 1 of 4 years |
| Is the growth borrowed? | essentially debt-free | ₹2 cr — 0.01× its own equity (was 0.08×) |
| Is it being collected? | customers are taking longer to pay | 52 days to collect, up 16 in a year · cash cycle 80 days |
| Who has been buying? | the promoters have held steady | promoters 59.9% (−0.1 in a year), 73.4% → 59.9% over 3.8 years · FIIs 1.4% (+1.3) · DIIs 1.3% (+1.3) · shareholders 536 → 18,720 |
| What does it earn on its capital? | earns a high return on the capital it employs | ROCE 30.7% · ROE 25.4% |
Fetched from the filings, not typed — and deliberately not part of the score. These are the questions the score cannot ask: it reads growth, price and trend, so a company can score well while its profit never becomes cash. Weigh these beside the note, not against the number.
Screener's own checklist not mine, not the score
In its favour
- Company has reduced debt.
- Company is almost debt free.
- Company's working capital requirements have reduced from 110 days to 53.4 days
Against it
- Stock is trading at 7.81 times its book value
- Promoter holding has decreased over last 3 years: -13.5%
Generated by screener.in from a fixed checklist — not written by me and not an input to the score. It is here as a second machine opinion to weigh against the note; where it disagrees with the view above, the note is the considered one.