Krystal Integrated Services Associate Secures ₹138 Crore Solar Contract in Maharashtra

Synopsis: Advait Krystal Solar Energy, an associate of Krystal Integrated Services, has bagged a 25-year contract to implement rooftop solar systems for government medical institutions across Maharashtra.

Krystal Integrated Services (KRYSTAL) announced that its associate company, in which it holds a 49% stake, has secured a domestic project valued at Rs. 138 crore. Awarded by the Directorate of Medical Education & Research (DMER), Maharashtra, the project follows a Built-Own-Operate-Transfer (BOOT) model.

The scope includes the design, engineering, installation, and synchronization of grid-connected rooftop solar PV systems. The agreement features a long-term commitment, covering operations and maintenance services for a 25-year duration across various government hospitals and medical colleges.

Vinyl Chemicals maintains a resilient balance sheet, characterized by a zero-debt status and a robust dividend payout ratio of 78%. While the company faced a TTM profit contraction of 13%, it delivered a 12.8% Return on Equity (ROE) and a healthy ROCE of 17.3%. With a market cap of Rs. 466 crore, the firm continues to prioritize high shareholder returns alongside its core VAM trading operations.

Following the announcement, KRYSTAL shares surged 6.10% to trade at Rs. 610.25, significantly outperforming a weak Nifty 50. The stock saw high investor conviction with an intraday high of Rs. 645.00 and a traded volume of 23.86 lakh shares. The stock has delivered a 12.85% return over the last month and currently trades at a P/E ratio of 12.90.

Company Overview

Krystal Integrated Services is a Mumbai-based integrated facility management provider. Through its strategic stake in Advait Krystal Solar Energy, the company is actively expanding its footprint into the renewable energy sector and sustainable public infrastructure.

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