Krystal Integrated Services Limited is an integrated facilities management service provider in India, specializing in diverse sectors, including healthcare, education, public administration, airports, railways, metro infrastructure, and retail. Its service portfolio encompasses soft services such as housekeeping, sanitation, landscaping, and gardening, alongside hard services like mechanical, electrical, plumbing, waste management (solid, liquid, and biomedical), pest control, and façade cleaning.
Additionally, the company provides ancillary services, including production support, warehouse and airport management, staffing solutions, payroll management, private security, manned guarding, and catering services.
In the fiscal year 2023, the outsourced integrated facility management market in India was estimated to be valued at ₹980.8 billion. It is anticipated that this market will exhibit a compound annual growth rate (CAGR) of 14.6% between Fiscal 2023 and Fiscal 2028, potentially reaching a market size of ₹ 1,935.88 billion.
Krystal Integrated Services Ltd IPO Details
Krystal Integrated Services Ltd IPO Date
The dates for bidding for the Krystal Integrated Services IPO are March 14, 2024, to March 18, 2024.
Krystal Integrated Services Ltd IPO Price Band
Krystal Integrated Services is a book-built IPO. The price range is₹680 to ₹715.
Krystal Integrated Services Ltd IPO Lot Size
The Krystal Integrated Services Ltd IPO lot size is 20 shares per lot.
Krystal Integrated Services Ltd IPO Objectives
The proceeds from the fresh issue will be used for:
- Repayment/prepayment, in full or part, of certain borrowings availed of by the company
- Funding working capital requirements of the company;
- Funding capital expenditure for the purchase of new machinery; and
- General corporate purposes
Peer Details
The company have several peers, including,
- Quess Corp Limited
- SIS Limited
- Updater Services Limited
How To Check the Allotment Status of Krystal Integrated Services Limited’s IPO?
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Contact Details of Krystal Integrated Services Limited
Registered office: Krystal House 15A 17, Shivaji Fort CHS, Duncans Causeway Road, Mumbai – 400 022, Maharashtra, India
Contact Person: Stuti Maru (Company Secretary and Compliance Officer)
Phone: +91 22 47471234
E-mail: company.secretary@krystal-group.com
IPO Financials
| Particulars | Year Ending on March 31, 2023 (₹ millions) | Year Ending on March 31, 2022 (₹ millions) |
|---|---|---|
| Total Income | 7,109.65 | 5,548.57 |
| Profit (Loss) for the Year | 384.44 | 262.74 |
| Current Ratio | 1.30 | 1.37 |
| Return on Capital Employed | 28.82% | 25.03% |
Know before investing
Strengths
4The organisation offers a broad spectrum of integrated facility management services across various sectors, establishing itself as one of the leading companies in India with an extensive geographical footprint and a substantial client base, serving nearly all customer segments.
The company boasts a history of successfully delivering substantial contracts and stands out among Indian firms eligible to manage and execute extensive government projects spanning multiple locations.
With a widespread presence, the company maintains a sizable and proficient workforce, complemented by robust recruitment and training capabilities.
The company expanded its customer base from 262 to 326 between FY2021 and FY2023 while also increasing the number of customer locations served. They prioritised customer retention by renewing or extending contracts for existing customers. In terms of government contracts, they successfully renewed 0%, 40.00%, and 42.86% in the years 2021, 2022, and 2023, respectively.
Risks
4The company heavily depends on a small number of customers for its revenue. In fiscal years 2023, 2022, and 2021, the largest customer contributed 34.91%, 34.28%, and 30.32% of total revenue, while the top 10 customers contributed 72.58%, 71.10%, and 79.72% of total revenue.
Pending legal cases involving the organisation, its promoters, subsidiaries, and directors pose a potential threat. An unfavourable ruling in these cases could lead to financial obligations and harm the company's operations.
Recurrent negative cash flows stemming from investment and financing activities in the past remain a concern for the company. Future instances of negative cash flows may harm its financial stability.
The company's extensive workforce, comprising 39,676 personnel at 2,427 customer locations, poses operational risks, including service claims, losses, employee disruptions, and regulatory issues, with potential adverse impacts on reputation and financial stability. Control over varied work environments is limited.
