Krystal Signs SPA to Acquire Citelum India for ₹10,000

Krystal Integrated Services has executed a Share Purchase Agreement (SPA) on May 12, 2026, to acquire 100% of the equity shares of Citelum India Private Limited (CIPL). The agreement was signed with M/s. Citelum and Mr. Frederic BELLOY for the acquisition of 5,00,00,000 equity shares, representing the entire paid-up share capital and voting rights of CIPL. The aggregate consideration for the acquisition is ₹10,000, subject to adjustments as per the terms of the SPA. Upon completion, CIPL will become a wholly-owned subsidiary of the company. This acquisition follows the Board of Directors' approval on May 7, 2026. CIPL, the Indian subsidiary of Citelum S.A.S., France (part of the EDF Group), is a pioneer in public and private lighting infrastructure management. The company brings established capabilities in smart city contracts across Ahmedabad, Noida, and Chennai, with expertise in advanced smart lighting, IoT connectivity, and energy efficiency solutions. Management described this as a strategically significant step that provides an established platform to participate in India's city infrastructure development projects. Acquisition Details The transaction details are outlined in the table below: Parameter Details Target Company Citelum India Private Limited (CIPL) Stake Acquired 100% equity shares (5,00,00,000 shares) Parties to Agreement M/s. Citelum and Mr. Frederic BELLOY Transaction Mode Share Purchase Agreement Cash Consideration ₹10,000 (subject to adjustments) Post-Acquisition Status Wholly owned subsidiary CIPL Business Urban infrastructure, smart city solutions, street lighting FY26 Financial Performance Separately, the company reported its audited financial results for the year ended March 31, 2026. Consolidated revenue from operations grew by 5.32% year-on-year to ₹1,277.28 crore, while net profit rose to ₹64.35 crore. EBITDA increased 7.49% YoY to ₹83.53 crore, with margins improving to 6.54%. For Q4 FY26, revenue stood at ₹364.94 crore, and net profit improved by 11.31% YoY to ₹18.85 crore. Metric Q4 FY26 FY26 Income from operations (₹ Cr) 364.94 1,277.28 EBITDA (₹ Cr) 23.78 83.53 Profit After Tax (₹ Cr) 18.85 64.35 Strategic Outlook Management has guided for upwards of 20% revenue growth on a consolidated basis for FY27. The order book stands at approximately ₹2,600 crores on a consolidated basis. The company continues to focus on higher-margin emerging verticals including waste management, technical facility management, and solar EPC, alongside the strategic expansion into smart city infrastructure facilitated by the CIPL acquisition. Krystal Integrated Services Limited has entered into a Service Provider Agreement with M/s. Communicate India on May 11, 2026, for availing public relations services on behalf of the company. The disclosure was made pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was filed by Manishkumar Sangani, Company Secretary & Compliance Officer (Membership Number: A24871), under reference number KISL/CS/SE/18/2026-27. Agreement Details The company disclosed the agreement in accordance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The key particulars of the agreement, as required under Regulation 30, are outlined below: Parameter: Details Party to the Agreement: M/s. Communicate India Purpose: For availing Public Relations services Date of Agreement: May 11, 2026 Shareholding in Counterparty: NIL Significant Special Rights: NIL Related to Promoter/Promoter Group: No Related Party Transaction: No Shares Issued to Party: Not Applicable Other Disclosures: Not Applicable Regulatory Compliance The agreement does not involve any shareholding by Krystal Integrated Services in M/s. Communicate India, and the counterparty is not related to the promoter, promoter group, or group companies in any manner. The transaction does not qualify as a related party transaction under applicable regulations. No shares have been issued to the counterparty, and there are no special rights — such as the right to appoint directors, first right to share subscription, or rights to restrict changes in capital structure — associated with this agreement. The company has also noted that in the event of any termination or amendment of the agreement, additional details will be disclosed to the stock exchanges as required, including the names of parties, nature of the agreement, date of execution, and details of any amendment or reasons for termination. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians. As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. 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