Kross Limited (KROSS)
₹272.00 +0.37% last close, 16 Oct
Q2 FY27 results
📅 Next results: 17 Oct 2026 (board meeting)Kross Limited's board meets on 17 Oct 2026 to consider its Q2 FY27 results (July-September 2026).
In its latest reported quarter, Q1 FY27, Kross' revenue was ₹184 Cr (+32.4% year on year, +9.5% on the previous quarter), and net profit ₹13.0 Cr (+18.2% year on year); the operating margin was 12.5%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹184 | +32.4% | +9.5% |
| Operating profit | ₹23.0 | +43.8% | -29.0% |
| Net profit | ₹13.0 | +18.2% | -30.8% |
| EPS (₹) | 2.06 | +24.1% | -29.5% |
| Operating margin | 12.5% | — | — |
KROSS delivery percentage and bulk deals
NSE end-of-day data for
On Fri, 16 Oct 2026, 38.21% of the KROSS shares traded on NSE were taken to delivery, against the stock's own 20-session average of 33.97%. That is close to its usual level. 12 bulk or block deals were reported in KROSS in the last 60 days: ₹61 Cr bought and ₹62 Cr sold.
Delivery in the last 5 sessions: 35.3% · 36.2% · 12.4% · 30.4% · 38.2%
| Date | Side | Counterparty | Value | Price | Quantity | Type |
|---|---|---|---|---|---|---|
| 14 Oct | Sell | Microcurves Trading Private Limited | ₹12.89 Cr | ₹273.12 | 471,828 | Bulk |
| 14 Oct | Buy | Microcurves Trading Private Limited | ₹12.87 Cr | ₹272.78 | 471,828 | Bulk |
| 14 Oct | Sell | Junomoneta Finsol Private Limited | ₹12.20 Cr | ₹272.24 | 448,136 | Bulk |
| 14 Oct | Buy | Junomoneta Finsol Private Limited | ₹12.05 Cr | ₹271.95 | 443,180 | Bulk |
| 14 Oct | Sell | Qe Securities Llp | ₹9.45 Cr | ₹270.83 | 348,971 | Bulk |
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Kross Limited announced the outcome of its postal ballot via remote e-voting, which concluded on September 30, 2026. Shareholders approved two special resolutions: the issuance of equity shares on a preferential basis (approved by 99.99% of votes) and the issuance of convertible warrants on a preferential basis (approved by 97.30% of votes). A total of 4,81,89,530 and 4,81,88,530 valid votes were cast for items 1 and 2, respectively. The exact fundraise amount and issue price were not disclosed in this filing.
- Resolution for preferential issue of equity shares passed with 99.99% votes in favour (4,81,84,058 assent votes)
- Resolution for preferential issue of convertible warrants passed with 97.30% votes in favour (4,68,86,037 assent votes)
- Remote e-voting was conducted from September 1, 2026, to September 30, 2026
- Notice was emailed to 73,395 registered members based on the August 21, 2026 cut-off date
Kross Limited has issued a corrigendum to its August 31, 2026 postal ballot notice following queries from NSE during its in-principle approval review. The preferential issue involves 15,00,000 equity shares and 15,00,000 convertible warrants, expanding the total share base from 6,45,09,422 to 6,75,09,422 shares upon full dilution (a 4.65% increase). The corrigendum updates the pre- and post-issue shareholding pattern as of August 28, 2026, clarifies promoter versus non-promoter allottee classifications, and includes pricing re-computation undertakings under SEBI ICDR regulations. The ongoing remote e-voting concludes on September 30, 2026.
- Preferential allotment comprises 15,00,000 equity shares and 15,00,000 convertible warrants
- Post-allotment total share capital increases from 6,45,09,422 to 6,75,09,422 equity shares
- Promoter holding shifts from 68.57% (4,42,30,903 shares) to 67.74% (4,57,30,903 shares) post-issue
- E-voting period remains active until 5:00 PM on September 30, 2026
Kross Limited submitted the scrutinizer's report and voting results for its 35th Annual General Meeting held on September 16, 2026. All 7 proposed resolutions were passed with overwhelming shareholder approval of over 99.98% votes in favor. Key items approved include adoption of FY26 audited standalone financials, re-appointment of director Sumeet Rai, ratification of cost auditor remuneration, and appointment/re-appointment of four independent directors for 3-year terms.
- All 7 resolutions passed with over 99.98% votes cast in favor
- Total of 47,959,011 valid votes polled on adoption of standalone financial statements
- Shareholder base stood at 73,978 members on the cut-off date of September 9, 2026
- Approved 3-year director terms for Sanjiv Paul, Gurvinder Singh Ahuja, Deepa Verma, and Sharat Chandra Kumar
Kross Limited concluded its 35th Annual General Meeting (AGM) held on September 16, 2026, via video conferencing. A total of 49 members attended the meeting to deliberate on 7 ordinary and special business resolutions. Key agenda items included the adoption of audited FY26 financial statements, the re-appointment of director Mr. Sumeet Rai retiring by rotation, and the appointments/re-appointments of 4 independent directors for terms of 3 years each. Voting results and the scrutinizer's report will be announced within 48 hours of the meeting's conclusion.
- 35th AGM held on September 16, 2026, with 49 members present via VC/OAVM
- 7 agenda items presented, including FY26 financial statement adoption and auditor remuneration
- Proposed appointment or re-appointment of 4 independent directors for 3-year tenures
- Final scrutinizer voting report to be submitted within 48 hours
Kross Limited has issued a Postal Ballot Notice seeking shareholder approval for the issuance of equity shares and convertible warrants on a preferential basis. The remote e-voting period runs from September 1, 2026 to September 30, 2026, with voting results scheduled to be declared on or before October 3, 2026. Promoters Sumeet Rai and Kunal Rai are named as interested parties in the resolution. Allotment of the securities is slated to be completed within 15 days of passing the resolution, subject to requisite regulatory approvals.
- Seeking shareholder approval for preferential issue of equity shares and convertible warrants
- Remote e-voting window open from September 1, 2026 to September 30, 2026
- Postal ballot results to be announced on or before October 3, 2026
- Allotment of securities to be completed within 15 days from approval date
Kross Limited's Board has approved a total capital raise of up to ₹63.60 Cr via preferential allotment at an issue price of ₹212 per share/warrant. This includes ₹31.80 Cr through 15,00,000 equity shares to four non-promoter investors and ₹31.80 Cr through 15,00,000 convertible warrants to promoters Sumeet Rai and Kunal Rai. The warrant issue requires 25% upfront payment with the remaining 75% payable within 18 months upon conversion. The fundraise is subject to shareholder approval via postal ballot concluding on September 30, 2026.
- Approved issue of up to 15,00,000 equity shares at ₹212 per share (including ₹207 premium), aggregating to ₹31.80 Cr.
- Approved issue of up to 15,00,000 convertible warrants at ₹212 per warrant to promoters, aggregating to ₹31.80 Cr.
- Warrants are convertible into equity shares within 18 months, with 25% upfront payment and 75% on conversion.
- Postal ballot remote e-voting is scheduled from September 1, 2026 to September 30, 2026.
Kross Limited's Board of Directors has approved a total preferential fundraise of up to ₹63.60 crore at an issue price of ₹212 per instrument (face value ₹5 + ₹207 premium). The issuance is split equally: 15,00,000 equity shares to 4 non-promoter investors (₹31.80 crore) and 15,00,000 convertible warrants to promoters Sumeet Rai and Kunal Rai (₹31.80 crore). The total fundraise accounts for ~4.6% of the company's market capitalisation of ₹1,377 crore and ~13% of its net worth. Shareholder approval is being sought via postal ballot with e-voting open from September 1 to September 30, 2026.
- Preferential equity allotment of 15,00,000 shares to 4 non-promoter investors aggregating ₹31.80 crore
- Preferential warrant allotment of 15,00,000 convertible warrants to promoters aggregating ₹31.80 crore
- Issue price set at ₹212 per share/warrant (face value ₹5 plus ₹207 premium)
- Warrants convertible into equity within 18 months with 25% upfront application payment
- Postal ballot remote e-voting period runs from September 1 to September 30, 2026
Kross Limited has issued physical letters containing web links to its FY 2025-26 Annual Report and 35th Annual General Meeting (AGM) Notice to shareholders without registered email addresses. The 35th AGM is scheduled to take place virtually on September 16, 2026, at 11:00 AM IST. The cut-off date for e-voting eligibility is set for September 09, 2026. The remote e-voting window will open on September 13, 2026, and conclude on September 15, 2026.
- 35th AGM scheduled for Wednesday, September 16, 2026, at 11:00 AM IST via Video Conferencing.
- Cut-off date for e-voting is set as Wednesday, September 09, 2026.
- Remote e-voting begins on September 13, 2026 (09:00 AM) and ends on September 15, 2026 (05:00 PM).
- Physical intimation sent under SEBI LODR Regulation 36(1)(b) to shareholders whose email IDs are unregistered.
Kross Limited has issued the notice for its 35th Annual General Meeting (AGM) scheduled for September 16, 2026, at 11:00 AM IST via video conferencing. Key resolutions include the adoption of FY26 audited standalone financial statements and the reappointment of Director Sumeet Rai who retires by rotation. Additionally, shareholders will vote on 3-year second-term reappointments for independent directors Sanjiv Paul, Gurvinder Singh Ahuja, and Deepa Verma starting October 26, 2026. The company has also proposed ratifying INR 70,000 as FY27 cost auditor remuneration.
- 35th AGM to be held on September 16, 2026 at 11:00 AM IST via VC/OAVM
- Special resolutions proposed for 3-year second terms for 3 Independent Directors through October 25, 2029
- Proposed ratification of INR 70,000 remuneration for FY27 Cost Auditors
- Adoption of audited standalone financial statements for the financial year ended March 31, 2026
Kross Limited has scheduled an interaction with institutional investors and analysts at the Equirus Institutional Investor Conference in Mumbai on August 13, 2026. The management will participate in group and one-to-one meetings between 10:00 am and 05:00 pm, facilitated by Kaptify Consulting. The company clarified that no unpublished price-sensitive information (UPSI) will be discussed, and the interaction will be based on publicly available data. This meeting comes as the company targets international expansion and commissions its Rs 167 Cr seamless tube plant.
- Investor conference scheduled for August 13, 2026, in Mumbai via physical mode.
- Interaction window set between 10:00 am and 05:00 pm for group and one-to-one meetings.
- Company is currently executing a Rs 167 Cr investment in a seamless tube manufacturing facility.
- Targeting supplier approvals for Tier 1 OEMs in Europe and the US by Q3 FY26.
- Promoter holding remains stable at 68.52% as of March 2026.
Kross Limited reported a strong Q1 FY27 with revenue growing 32% YoY to ₹185.35 cr and PAT increasing 24.4% to ₹13.31 cr. The company has successfully commissioned its axle beam extrusion line and expects to double its foundry capacity by Q3 FY27. A major ₹167 cr investment in a seamless tube facility is on track for Q4 FY27 commissioning, supported by a ₹100 cr term loan. Management also implemented a 3-5% price hike in the axle segment to mitigate commodity cost pressures.
- Revenue grew 32% YoY to ₹185.35 cr in Q1 FY27, building on Q4 FY26 momentum.
- EBITDA margins expanded by 63 bps YoY to 12.23% due to better product mix and backward integration.
- ₹167 cr seamless tube facility on track for commissioning by Q4 FY27; piercing mill already received.
- Foundry capacity expected to double in Q3 FY27 following the start of a new high-pressure mold line.
- Implemented a 3-5% price hike in the trailer axle segment effective April 1, 2026, to offset steel price increases.
Kross Limited has announced a one-on-one virtual meeting with a Portfolio Management Service (PMS) scheduled for July 29, 2026, at 10:30 AM IST. The interaction, organized by IR firm Kaptify, will be based on publicly available information with no unpublished price-sensitive information (UPSI) to be shared. This meeting comes as the company pursues a significant Rs 167 Cr capex for a seamless tube plant and targets international OEM approvals by Q3 FY26. Such meetings are standard practice for listed companies to maintain institutional engagement.
- One-on-One virtual meeting scheduled for July 29, 2026, starting at 10:30 AM IST
- Interaction organized by Investor Relations firm Kaptify with a PMS participant
- Company is currently executing a Rs 167 Cr investment in a seamless tube manufacturing facility
- Management is targeting supplier approvals for Europe and US markets by Q3 FY26
- Promoter holding remains stable at 68.52% as of March 2026
Kross Limited has released the audio recording of its earnings conference call held on July 27, 2026, regarding the performance for the quarter ended June 30, 2026. The company is currently in a growth phase, focusing on a Rs 167 Cr investment in a seamless tube plant and backward integration. Management previously indicated targeting Tier 1 OEM approvals in Europe and the US by Q3 FY26. This filing is a standard regulatory requirement following the quarterly results discussion.
- Earnings conference call held on July 27, 2026, to discuss Q1 FY27 performance
- Company is executing a Rs 167 Cr investment for a new seamless tube manufacturing facility
- Promoter holding remains stable at 68.52% as of March 2026
- Debt-to-Equity ratio stands at a conservative 0.11 based on Rs 54 Cr debt and Rs 490 Cr net worth
Kross Limited reported a strong Q1 FY27 with revenue growing 32.3% YoY to ₹184.3 Cr, driven by robust demand in the M&HCV and Tractor segments. EBITDA increased 39.5% to ₹22.6 Cr, with margins expanding 63 bps to 12.2%, although PAT growth was slightly lower at 24.4% (₹13.3 Cr) due to increased depreciation from recent capex. A key milestone was the commissioning of the ₹25 Cr Axle Beam Extrusion plant, with commercial production slated for August 2026. The company is also on track to double its casting capacity by September 2026 through a new high-pressure moulding line.
- Revenue from operations grew 32.3% YoY to ₹184.3 Cr, marking the company's best-ever Q1 performance.
- Axle and Suspension volumes increased 34% YoY, supported by the commissioning of the ₹25 Cr extrusion plant.
- Tractor & Agri segment delivered ~40% YoY growth in Q1 FY27.
- Foundry expansion to double casting capacity is on track for completion by September 2026.
- Produced 220 kits of newly launched Tipping Jacks in Q1, marking entry into a new high-growth segment.
Kross Limited reported a strong Q1 FY27 with revenue growing 32.3% YoY to ₹184.34 Cr and EBITDA rising 39.5% to ₹22.55 Cr. While EBITDA margins expanded by 63 bps to 12.2%, PAT growth of 24.4% was slightly tempered by higher depreciation from strategic capital investments. The company successfully commenced commercial production at its Axle Beam Extrusion Plant in July 2026, contributing to a 34% YoY increase in axle volumes. Management is targeting further capacity doubling in castings by September 2026.
- Revenue from operations increased 32.3% YoY to ₹184.34 Cr in Q1 FY27
- EBITDA grew 39.5% YoY to ₹22.55 Cr, with margins expanding to 12.2%
- Axle volumes rose 34% YoY following the commissioning of the Axle Beam Extrusion Plant
- Launched precision hydraulic tipping jacks with 220 kits produced in the first quarter
- High-pressure moulding line expected by September 2026 to double existing casting capacity
Financial Performance
Revenue Growth by Segment
Total revenue was INR 620.41 Cr in FY25, showing a flat growth of 0.02% YoY compared to INR 620.25 Cr in FY24. Historical growth was 26.9% in FY24 and 63.8% in FY23. Segments include Commercial Vehicles and Tractors, though specific percentage splits are not disclosed.
Geographic Revenue Split
Currently 100% domestic (India) with operations centered in Jamshedpur. The company is expanding into Europe and the US, with samples already dispatched to Tier 1 OEMs and approval expected in Q3 FY26.
Profitability Margins
Net Profit Margin improved to 7.99% in FY25 (INR 49.56 Cr) from 7.23% in FY24 (INR 44.88 Cr). Gross margin is approximately 43.2% based on material costs of 56.8% of revenue in FY25.
EBITDA Margin
EBITDA margin was 13.08% in FY24 (INR 81.21 Cr), showing a steady upward trend from 11.83% in FY23 and 10.16% in FY22.
Capital Expenditure
Planned investment of INR 167 Cr for a new seamless tube manufacturing facility. Historical PPE additions for FY25 were INR 27.27 Cr.
Credit Rating & Borrowing
CARE Ratings for Long-term and Short-term facilities were withdrawn in December 2025 as the company surrendered these facilities after repaying outstanding debt using IPO proceeds. The company used a 10% incremental borrowing rate for lease liabilities.
Operational Drivers
Raw Materials
Steel is the primary raw material for forging and axle manufacturing. Raw material costs (Cost of Materials Consumed) represented 56.8% of total revenue in FY25 (INR 352.34 Cr).
Capacity Expansion
Currently operates 3 manufacturing plants in Jamshedpur. Planned expansion includes a seamless tube manufacturing facility (INR 167 Cr investment) and axle beam extrusion capabilities to enter the TAG axle product category.
Raw Material Costs
Raw material costs were INR 352.34 Cr in FY25, a 6.9% decrease from INR 378.68 Cr in FY24, improving the material cost-to-revenue ratio from 61.0% to 56.8%.
Manufacturing Efficiency
Management aims to improve profitability through constant cost optimization and increasing capacity utilization, though specific utilization percentages are not disclosed.
Strategic Growth
Growth Strategy
Growth is targeted through the commissioning of the INR 167 Cr seamless tube plant, further backward integration via axle beam extrusion, and geographic expansion into Europe and the US markets by securing approvals from Tier 1 OEMs.
Products & Services
Axle shafts, coupling flanges, tractor parts, trailer axles, trailer components, and planned TAG axles.
Brand Portfolio
KROSS
New Products/Services
Seamless tubes and TAG axles are the primary new product focuses, intended to deepen backward integration and expand the product portfolio.
Market Expansion
Targeting Tier 1 OEMs in Europe and the US; final supplier approval for these regions is expected in Q3 FY26.
External Factors
Industry Trends
The auto component industry is shifting toward electrification and premium suspension/braking models. Kross is positioning itself through backward integration and new product facilities to remain competitive.
Competitive Landscape
Operates in the competitive auto-component and forging sector; key competitors are not specifically named.
Competitive Moat
Durable advantage through backward integration (forging to finishing) and strategic location in Jamshedpur (an automotive hub), which reduces logistics costs and lead times for major OEMs.
Macro Economic Sensitivity
High sensitivity to the Commercial Vehicle cycle and government fiscal policies, specifically GST rate changes which can shift consumer demand timing.
Consumer Behavior
Customers exhibit high sensitivity to tax policy rumors, as seen in the postponement of purchases in August and September 2025 due to anticipated GST cuts.
Geopolitical Risks
Expansion into US and European markets introduces exposure to international trade regulations and potential tariff barriers.
Regulatory & Governance
Industry Regulations
Subject to automotive manufacturing standards and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Taxation Policy Impact
Effective tax rate was approximately 26.6% in FY25, with INR 17.83 Cr total tax expense on INR 67.39 Cr PBT.
Legal Contingencies
No material fraud or significant pending court cases were reported in the FY25 auditor's report.
Risk Analysis
Key Uncertainties
Execution risk associated with the INR 167 Cr seamless tube facility and the inherent cyclicality of the domestic CV and tractor markets.
Geographic Concentration Risk
Manufacturing is 100% concentrated in Jamshedpur, Jharkhand, making the company sensitive to regional industrial policies or disruptions.
Technology Obsolescence Risk
Potential risk from the long-term industry shift toward Electric Vehicles (EVs), which may alter requirements for traditional drivetrain and axle components.
Credit & Counterparty Risk
Credit exposure is primarily through trade receivables of INR 182.74 Cr from automotive OEMs.
