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KRIDHANINF - Kridhan Infra

📊 NSE: KRIDHANINF 🏢 Trading 📅 Last Updated: 12/14/2025 9:02

📢 Recent Corporate Announcements

Kridhan Infra Diversifies into Media Tech with AI-Led Feature Film "SHATAK"

🔵 WATCH ⭐ 7/10

EXPANSION 📅 26 Feb 2026, 04:58 PM

Kridhan Infra Limited has announced a strategic entry into the film production and media technology sector through its subsidiary, Kridhan Mediatech Private Limited. The company has released "SHATAK", a full-length feature film created using Artificial Intelligence, marking a significant pivot from its core infrastructure business. This move targets the Indian Media & Entertainment industry, currently valued at over ₹2.5 lakh crore, and the growing AI economy projected to reach ₹1.4 lakh crore. The company plans to further develop capabilities in CGI, virtual production, and AI-driven content creation.

Strategic entry into film production and media technology via subsidiary Kridhan Mediatech.
Launch of 'SHATAK', one of the world's first AI-led full-length feature films.
Targeting the ₹2.5 lakh crore Indian Media & Entertainment industry.
Future focus on AI, CGI, and virtual production systems for theatrical and digital platforms.
Alignment with India's projected ₹1.4 lakh crore AI economy.

💡 Investors should closely monitor this significant business diversification to see if the company can successfully monetize media technology and if it impacts the capital allocation for its core infrastructure operations.

Kridhan Infra Reports Q3 FY26 Consolidated Net Loss of ₹27 Lakhs as Revenue Slumps 82%

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 14 Feb 2026, 09:08 PM

Kridhan Infra Limited reported a consolidated net loss of ₹27.00 Lakhs for the quarter ended December 31, 2025, a sharp reversal from a profit of ₹25.82 Lakhs in the previous quarter. Revenue from operations plummeted to ₹21.50 Lakhs from ₹125.00 Lakhs in Q2 FY26. The company's net worth remains eroded due to accumulated losses, though management continues to prepare results on a 'going concern' basis. Financials are further complicated by the liquidation of its Singapore subsidiary and the impairment of its associate company, Vijay Nirman Company.

Consolidated revenue from operations fell 82.8% quarter-on-quarter to ₹21.50 Lakhs.
Shifted to a consolidated net loss of ₹27.00 Lakhs in Q3 FY26 from a profit of ₹25.82 Lakhs in Q2 FY26.
Exceptional gain of ₹24.06 Lakhs was recorded during the quarter due to the reversal of earlier provisions for loans and advances.
The Singapore subsidiary, Readymade Steel Singapore Pte. Ltd., is under liquidation and excluded from consolidated results.
Company net worth is fully eroded, with the auditor highlighting accumulated losses as a significant concern.

💡 Investors should exercise extreme caution due to the company's eroded net worth, minimal revenue, and ongoing liquidation of key subsidiaries. The stock remains highly speculative given the fundamental financial distress and lack of operational scale.

Kridhan Infra Appoints Ms. Dipti Jain as Company Secretary and Compliance Officer

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 06 Feb 2026, 01:58 PM

Kridhan Infra Limited has appointed Ms. Dipti Jain as the Company Secretary, Compliance Officer, and Key Managerial Personnel effective February 6, 2026. Ms. Jain is an Associate Company Secretary (ACS 73586) and a semi-qualified Chartered Accountant with professional expertise in corporate law and SEBI compliance. The appointment was finalized during a board meeting held from 12:30 p.m. to 1:30 p.m. following recommendations from the Nomination and Remuneration Committee. This move is a routine regulatory requirement to ensure the company adheres to SEBI (LODR) Regulations.

Ms. Dipti Jain (Membership No. A73586) appointed as CS, Compliance Officer, and KMP effective Feb 6, 2026.
The appointee is a semi-qualified CA with experience in SEBI compliance at the Calcutta Stock Exchange.
The board meeting for the appointment was conducted on February 6, 2026, lasting exactly 60 minutes.
Ms. Jain has over nine years of experience in teaching and mentoring alongside her professional compliance background.

💡 This is a routine administrative appointment to fulfill statutory requirements. Investors should view this as a standard compliance update with no direct impact on the company's financial performance.

Kridhan Infra Appoints Ms. Dipti Jain as Company Secretary and Compliance Officer

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 06 Feb 2026, 01:53 PM

Kridhan Infra Limited has appointed Ms. Dipti Jain as the Company Secretary and Compliance Officer, effective February 6, 2026. Ms. Jain is an Associate Company Secretary (ACS 73586) and a semi-qualified Chartered Accountant with expertise in corporate law and SEBI compliance. Her professional background includes experience at the Calcutta Stock Exchange and various audit firms. This appointment fills a critical Key Managerial Personnel (KMP) role to ensure ongoing regulatory adherence.

Appointment of Ms. Dipti Jain as CS and Compliance Officer effective from February 6, 2026
Appointee is an Associate Company Secretary (ACS 73586) and a semi-qualified CA
Experience includes monitoring SEBI LODR compliance at the Calcutta Stock Exchange
The Board meeting approving the appointment lasted one hour, from 12:30 PM to 1:30 PM

💡 This is a routine administrative appointment to ensure regulatory compliance and does not impact the company's core business operations. No immediate action is required from investors based on this news.

Kridhan Infra Submits SEBI Regulation 74(5) Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 14 Jan 2026, 03:25 PM

Kridhan Infra Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Bigshare Services Private Limited, confirms that dematerialization requests for the quarter ended December 31, 2025, were processed within the mandated 15-day timeframe. It verifies that security certificates were mutilated and cancelled, and the depositories' names were updated in the register of members. This is a standard administrative filing required for all listed entities in India.

Compliance certificate submitted for the quarter ended December 31, 2025.
Confirmation provided by Registrar and Transfer Agent (RTA), Bigshare Services Private Limited.
Verification that dematerialization requests were processed and confirmed to depositories within 15 days.
Confirmation that security certificates were mutilated and cancelled after due verification.

💡 No action is required as this is a routine regulatory filing. Investors should continue to monitor the company's financial performance and operational updates.

Kridhan Infra Incorporates Media Subsidiary Kridhan Mediatech with 70% Stake

🔵 WATCH ⭐ 6/10

EXPANSION 📅 13 Jan 2026, 04:52 PM

Kridhan Infra Limited has incorporated a new subsidiary, Kridhan Mediatech Private Limited, marking a strategic diversification into the media and entertainment sector. The company holds a 70% stake in the new entity, which has an initial authorized share capital of INR 10,00,000. The subsidiary will focus on producing and distributing digital content, films, and web series across OTT and theatrical platforms. The remaining 30% stake is held by the Kridhan Family Trust, involving the company's promoter.

Incorporated Kridhan Mediatech Private Limited on January 12, 2026, as a 70% subsidiary
Initial authorized and paid-up share capital of INR 10,00,000 divided into 1 lakh shares
Diversification into motion picture production, media technology, and OTT content distribution
Promoter-linked Kridhan Family Trust holds the minority 30% stake in the new venture
Entry into a non-core business segment outside the company's traditional infrastructure focus

💡 Investors should monitor the company's capital allocation towards this new non-core business and evaluate management's expertise in the media sector. Watch for upcoming project announcements or further investments that might impact the core infrastructure business's cash flows.

Kridhan Infra Announces Resignation of Executive Director and Board Changes

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 06 Jan 2026, 06:40 PM

Kridhan Infra Limited has announced the resignation of Mr. Rishiraj from his position as Executive Director, effective January 6, 2026, citing personal reasons. Simultaneously, the company reported the completion of Mr. Mahdav Deshpande's five-year term as a Non-Executive Independent Director, which concluded on August 13, 2025. These changes were formally approved by the Board of Directors in their meeting held on January 6, 2026. The outgoing Executive Director has confirmed that there are no other material reasons for his departure.

Mr. Rishiraj resigned as Executive Director and Director effective January 6, 2026.
Mr. Mahdav Deshpande completed his 5-year term as Independent Director on August 13, 2025.
The Board of Directors approved these cessations in a meeting held on January 6, 2026.
The company confirmed that the resignations are due to personal reasons and term completions with no other material concerns.

💡 Investors should monitor the company's next steps regarding board appointments to ensure compliance with SEBI listing regulations. No immediate impact on stock performance is expected from these routine management transitions.

Kridhan Infra Announces Resignation of Executive Director Rishiraj and Board Changes

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 06 Jan 2026, 06:34 PM

Kridhan Infra Limited has announced the resignation of Mr. Rishiraj from his position as Executive Director and Director, effective January 6, 2026, citing personal reasons. Additionally, the company noted the completion of the five-year term for Mr. Mahdav Deshpande as an Independent Director, which concluded on August 13, 2025. These changes were formally approved by the Board of Directors during their meeting on January 6, 2026. The company confirmed that there are no other material reasons for the executive's resignation.

Mr. Rishiraj resigned as Executive Director and Director effective January 6, 2026.
Mr. Mahdav Deshpande completed a full 5-year term as Independent Director on August 13, 2025.
The Board of Directors officially approved both management changes in a meeting held on January 6, 2026.
Mr. Rishiraj confirmed his resignation was due to personal and unavoidable reasons with no other material concerns.

💡 Investors should monitor the company for new board appointments to ensure leadership stability and proper corporate governance. No immediate portfolio action is required as these transitions appear routine.

Kridhan Infra Announces Trading Window Closure from January 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 31 Dec 2025, 02:40 PM

Kridhan Infra Limited has informed the stock exchanges that its trading window for dealing in equity shares will be closed starting January 1, 2026. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's internal code of conduct. The window will remain closed until 48 hours after the announcement of financial results for the quarter and nine months ending December 31, 2025. This is a standard regulatory procedure for listed companies ahead of earnings announcements.

Trading window closure effective from January 1, 2026.
Closure relates to the financial results for the quarter and nine months ending December 31, 2025.
The window will reopen 48 hours after the official declaration of financial results.
Applies to all Designated Persons and their immediate relatives as per SEBI regulations.

💡 No immediate action is required as this is a routine regulatory filing. Investors should look forward to the upcoming quarterly results to evaluate the company's financial health.

Kridhan Infra Clarifies Delay in Q2 FY26 Limited Review Reports Due to Auditor Demise

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 22 Dec 2025, 03:31 PM

Kridhan Infra Limited has responded to NSE's clarification request regarding the missing Limited Review Reports for the quarter ended September 30, 2025. The company explained that the delay was caused by the unfortunate demise of its previous Statutory Auditor, which created a casual vacancy. A new auditor, M/s. Jignesh Savla & Associates, was appointed on November 14, 2025, to complete the review process. The company confirmed that both standalone and consolidated reports were subsequently approved by the Board on November 27, 2025, and have since been submitted to the exchanges.

Clarified non-submission of Standalone and Consolidated Limited Review Reports for the period ended September 30, 2025.
Delay was attributed to the sudden demise of the erstwhile Statutory Auditor, causing an unavoidable vacancy.
M/s. Jignesh Savla & Associates appointed as new Statutory Auditor on November 14, 2025.
Board approved and submitted the pending reports to stock exchanges on November 27, 2025.

💡 Investors should note that the regulatory deficiency has been addressed and the reports are now filed. It is advisable to review the actual financial performance in the newly submitted reports to assess the company's current standing.

Kridhan Infra Allots 5.75 Crore Warrants to Promoters Worth ₹11.5 Crore

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 16 Dec 2025, 06:20 PM

Kridhan Infra Limited has completed the allotment of 5.75 crore warrants on a preferential basis to its promoter and promoter group. Mr. Anil Dhanpat Agrawal (Promoter) was allotted 3 crore warrants, while Kridhan Petrochemicals Private Limited received 2.75 crore warrants. The total transaction value for these allotments amounts to ₹11.5 crore. This capital infusion and increase in promoter stake (Equity + Warrants) to a combined 45.96% indicates strong insider confidence in the company's future prospects.

Total allotment of 5.75 crore warrants to the Promoter and Promoter Group on a preferential basis
Promoter Anil Dhanpat Agrawal's combined holding (Equity and Warrants) stands at 28.49% post-allotment
Promoter Group entity Kridhan Petrochemicals' combined holding reaches 17.47% post-allotment
Total transaction value for the warrant allotment is approximately ₹11.5 crore
Allotment was officially approved and effected on December 9, 2025

💡 Investors should view the promoter's increased stake and capital infusion as a positive signal of commitment. However, keep an eye on the eventual dilution of earnings per share (EPS) when these warrants are converted into equity shares.

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💰 Financial Performance

Revenue Growth by Segment

For FY19, the company targeted India EPC revenue of INR 1,200-1,300 Cr, Singapore Foundation Engineering (FE) at INR 400-500 Cr, and Singapore EPC at INR 150-200 Cr. Proforma revenue for 9M FY19 grew 146% YoY to INR 1,315.1 Cr. However, by FY25, standalone revenue significantly declined to INR 2.57 Cr, reflecting severe operational scaling back.

Geographic Revenue Split

The business is split between India and Singapore. As of Q3 FY19, India EPC (via VNC) accounted for 78% of the proforma order book, while Singapore operations (FE and EPC) each contributed 11%.

Profitability Margins

Net Profit for FY25 was reported at INR 72.31 Cr on a standalone basis, though this appears driven by non-operational adjustments given the low revenue of INR 2.57 Cr. Historically, 9M FY19 proforma PAT (pre-exceptional) was INR 47 Cr, a 37% YoY increase.

EBITDA Margin

EBITDA margin for Q3 FY19 was 8%, a sharp decline from 19% in Q3 FY18 (-57% change). The company had provided a full-year FY19 guidance of 12-13% EBITDA margins, which was pressured by higher expenses which grew 93% YoY in Q3 FY19.

Capital Expenditure

Not explicitly disclosed in absolute INR Cr for future periods, but historical depreciation of INR 29.33 Lakhs in FY25 suggests minimal recent investment in new physical assets.

Credit Rating & Borrowing

The company reported a finance cost of INR 1.74 Cr for FY25. Management noted a 'liquidity mis-match' hurdle over the last few years, indicating constrained access to low-cost borrowing.

⚙️ Operational Drivers

Raw Materials

Steel, cement, and aggregates represent the primary inputs for piling and EPC works, typically accounting for 50-60% of project costs in the infrastructure sector.

Import Sources

Primarily sourced from India for domestic EPC projects and local Singaporean suppliers for KH Foges and Swee Hong operations.

Capacity Expansion

Current capacity is defined by an order book of INR 3,860 Cr (as of Q3 FY19). No specific unit-based expansion (MT/MW) is planned; growth is dependent on order wins like the INR 195.3 Cr Public Utilities Board contract in Singapore.

Raw Material Costs

Raw material availability and price volatility are cited as critical risks. In Q3 FY19, total expenses rose 93% YoY to INR 216.3 Cr, significantly outpacing revenue growth and compressing margins.

Manufacturing Efficiency

India EPC demonstrated high efficiency with a Book to Bill ratio of 3.2x during its peak execution phase in FY19.

📈 Strategic Growth

Expected Growth Rate

146%

Growth Strategy

The strategy involves consolidating the 50.5% stake in Vijay Nirman Company (VNC) to strengthen India EPC, growing the Singapore EPC business through Swee Hong, and executing a bid pipeline of over INR 3,130 Cr.

Products & Services

Piling and foundation engineering, bridge construction, road works, affordable housing projects, and public utility infrastructure.

Brand Portfolio

KH Foges, Swee Hong, Vijay Nirman Company (VNC), Kridhan Infra.

New Products/Services

Expansion into Affordable Housing (26% of order book) and specialized Piling contracts (INR 104.2 Cr win in Singapore).

Market Expansion

Targeting the Singapore Public Utilities Board and Indian national highway projects (Roads & Bridges currently 37% of order book).

Market Share & Ranking

Positioned as a leading bridge and piling specialist in the mid-tier EPC segment in India and Singapore.

Strategic Alliances

Acquisition of a majority stake in VNC and the integration of Swee Hong in Singapore.

🌍 External Factors

Industry Trends

The industry is shifting toward affordable housing and large-scale transport infra. Kridhan is positioned with 37% of its book in Roads & Bridges and 26% in Affordable Housing to capture this trend.

Competitive Landscape

Competes with mid-to-large scale EPC firms in India and specialized piling contractors in the Singaporean construction market.

Competitive Moat

Moat is based on specialized technical expertise in foundation engineering (KH Foges) and a strong 3.2x book-to-bill ratio in India, though this is currently threatened by liquidity constraints.

Macro Economic Sensitivity

Highly sensitive to government infrastructure spending and interest rate cycles which affect the cost of project financing.

Geopolitical Risks

The Russia-Ukraine war and energy crisis in Europe are cited as factors dampening global growth potential and increasing utility costs.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by SEBI Listing Regulations and the Companies Act 2013, with financial statements prepared under Ind AS.

Environmental Compliance

The company maintains a policy for environmentally clean and safe operations, though specific ESG costs are not quantified.

Taxation Policy Impact

Subject to Indian and Singaporean tax regimes; changes in these regimes are listed as a primary operational risk.

Legal Contingencies

The company faces hurdles from liquidity mismatches, though specific court case values were not detailed in the provided financial extracts.

⚠️ Risk Analysis

Key Uncertainties

Liquidity mismatch is the primary risk, potentially leading to project delays and an inability to bid for new work, impacting revenue by over 90% as seen in the FY25 standalone figures.