Revenue and Profitability Trends
Over the seven-year period ending March 2025, Shri Krishna’s net sales exhibited a general upward trend, rising from ₹16.98 crores in 2019 to ₹26.90 crores in 2025. Despite a peak of ₹31.29 crores in 2023, the company experienced a slight dip in the subsequent years, reflecting some volatility in sales. Total operating income mirrored this pattern, as other operating income remained nil throughout.
Operating profit before depreciation, interest, and tax (PBDIT) excluding other income showed a commendable increase from ₹5.81 crores in 2019 to ₹8.98 crores in 2025, with a notable peak in 2024 at ₹9.41 crores. Including other income, operating profit remained robust, reaching ₹9.52 crores in 2025. The operating profit margin fluctuated but maintained a healthy range, peaking at 36.97% in 2024 and settling at 33.38% in 2025, indicating efficient cost management despite sales variability.
Profit after tax (PAT) also reflected growth, rising from ₹1.92 crores in 2019 to ₹4.92 crores in 2025. The PAT margin improved steadily, reaching 18.29% in 2025, up from 11.31% in 2019. Earnings per share (EPS) followed suit, increasing from ₹0.69 to ₹1.76 over the same period, signalling enhanced shareholder value.
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Cost Structure and Expenditure
The company’s total expenditure excluding depreciation rose from ₹11.17 crores in 2019 to ₹17.92 crores in 2025, reflecting increased operational scale. Manufacturing expenses showed significant variation, peaking at ₹28.17 crores in 2024 before dropping to ₹12.57 crores in 2025, which may indicate changes in production efficiency or input costs. Employee costs increased moderately, consistent with business growth, while other expenses remained relatively stable.
Interest expenses have gradually declined from ₹3.33 crores in 2019 to ₹2.78 crores in 2025, suggesting improved debt management. Depreciation charges remained low and stable, averaging around ₹0.20 crores annually.
Balance Sheet and Financial Position
Shri Krishna’s shareholder funds have strengthened steadily, rising from ₹66.08 crores in 2020 to ₹86.59 crores in 2025. The company maintained a consistent equity capital base of ₹28 crores throughout the period. Reserves increased from ₹36.88 crores in 2019 to ₹58.59 crores in 2025, reflecting retained earnings and financial prudence.
Total liabilities remained relatively stable around ₹195 crores in 2025, with total debt decreasing from ₹55.48 crores in 2023 to ₹39.01 crores in 2025. This reduction in debt levels alongside rising reserves indicates a strengthening capital structure. The book value per share improved from ₹23.60 in 2020 to ₹30.92 in 2025, underscoring enhanced net asset value per share.
Current assets remained robust, with inventories increasing to ₹138.42 crores in 2025, while cash and bank balances were steady at around ₹5 crores. Net current assets improved to ₹80.21 crores, supporting operational liquidity.
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Cash Flow and Operational Efficiency
Cash flow from operating activities showed positive momentum, with ₹13 crores generated in 2025 compared to a negative ₹2 crores in 2024. The company managed working capital effectively, with changes in working capital contributing positively by ₹5 crores in 2025. Cash flow from investing activities was modestly positive at ₹2 crores in 2025, while financing activities reflected a net outflow of ₹15 crores, indicating debt repayments or shareholder returns.
Net cash inflow/outflow balanced out to zero in 2025, maintaining a stable cash position. The closing cash and cash equivalents stood at ₹5 crores, consistent with opening balances, signalling prudent cash management.
Summary of Historical Performance
Overall, Shri Krishna has exhibited a solid financial performance over the past seven years, with steady revenue growth, improving profitability margins, and a strengthening balance sheet. The company’s ability to reduce debt while increasing reserves and shareholder funds highlights its focus on financial stability. Operational cash flows have improved, supporting sustainable business operations. Investors may find these attributes favourable when considering Shri Krishna’s long-term prospects.
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