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Krishna Defence
Naval-grade steel fabrication + dairy equipment pivot to defence. 4x revenue in 3 years, 31% ROCE, near debt-free — a micro-cap execution story on naval capex.
Order book · Naval fabrication orders compounding
Hold / Watchlist
₹1,302
Mkt cap ₹1.9K Cr
P/E
47.2x
P/B
10.0x
ROCE
30.7%
ROE
25.4%
Div yield
0.10%
52W high
₹1,400
52W low
₹665
Promoter
59.9%
Score bridge (derived from real data)
Fundamental
97
Valuation
58
Technical
81
Moat (curated)
55
Fundamental = ROCE/ROE/OPM/growth/cash-conversion/leverage from Screener statements. Valuation = P/E, EV/EBITDA, P/B and distance-from-high. Technical = position in real 52-week range (full OHLCV indicators need a market-data API). Decision = weighted engine over all four.
52-week position
₹665now ₹1,302₹1,400
87/100
Technical rating A
Price · 2 years · SMA 50/200 · as of 2026-07-20
Strong UpMACD BearishGolden cross
RSI-14
RSI-14
56
vs SMA-50
6.8%
vs SMA-200
32.7%
1Y return
53.1%
Ann. vol
50%
Max DD 1Y
-31%
Annual trend · sales, PAT, OPM
Quarterly run-rate
Peer set · Shipbuilding & Submarines
| Company | Mkt cap | P/E | OPM | ROCE | Sales 3Y | PAT 3Y | D/E | Composite |
|---|---|---|---|---|---|---|---|---|
| Mazagon Dock | ₹94.6K Cr | 36.6x | 17% | 36.0% | 18.4% | 32.1% | 0.05x | 68 |
| Cochin Shipyard | ₹37.0K Cr | 51.6x | 16% | 16.0% | 28.5% | 33.0% | 0.28x | 59 |
| Garden Reach Shipbuilders | ₹29.4K Cr | 39.2x | 11% | 43.0% | 39.8% | 48.6% | 0.01x | 69 |
| Krishna Defence ◄ | ₹1.9K Cr | 47.2x | 22% | 30.7% | 56.4% | 101.7% | 0.01x | 76 |
Financial statements
Source: Screener.inSales 3Y CAGR
56.4%
PAT 3Y CAGR
101.7%
OPM (latest)
22.0%
PAT margin
16.7%
D / E
0.01x
CFO / PAT
2.10x
EV / EBITDA
36.8x
FCF yield
-0.3%
Ratio history · computed per year
| Ratio | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales growth YoY % | — | 65.6% | 79.2% | 28.9% |
| PAT growth YoY % | — | 100.0% | 120.0% | 86.4% |
| OPM % | 14% | 15% | 16% | 22% |
| PAT margin % | 7.8% | 9.4% | 11.6% | 16.7% |
| ROE % (PAT / net worth) | 12.5% | 9.3% | 16.8% | 21.1% |
| D / E (x) | 0.48 | 0.08 | 0.08 | 0.01 |
| Asset turnover (x) | 0.75 | 0.80 | 1.16 | 1.13 |
| CFO / PAT (x) | -1.40 | -0.30 | -0.50 | 2.10 |
Annual P&L · ₹ Cr
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Sales | 64 | 106 | 190 | 245 |
| Operating profit | 9 | 16 | 31 | 53 |
| OPM % | 14% | 15% | 16% | 22% |
| Net profit | 5 | 10 | 22 | 41 |
| EPS ₹ | 4.63 | 7.16 | 15.83 | 27.67 |
Quarterly · ₹ Cr
| Dec 2024 | Mar 2025 | Sep 2025 | Dec 2025 | |
|---|---|---|---|---|
| Sales | 52 | 46 | 48 | 64 |
| OPM % | 11% | 23% | 19% | 22% |
| PAT | 4 | 7 | 9 | 10 |
Balance sheet · ₹ Cr
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Equity | 11 | 14 | 14 | 15 |
| Reserves | 29 | 93 | 117 | 179 |
| Borrowings | 19 | 9 | 10 | 2 |
| Total assets | 85 | 133 | 164 | 217 |
Cash flow · ₹ Cr
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Operating | -7 | -3 | -11 | 86 |
| Investing | 1 | -37 | 5 | -92 |
| Financing | 6 | 45 | 1 | 11 |
Shareholding
Promoters
59.9%
FII
1.4%
DII
1.3%
Public
37.4%
Mkt cap
₹1.9K Cr
P/E
47.2x
52W range
₹665–1,400