Kirloskar Industries
Kirloskar Industries
Industrial ProductsKey Fundamentals
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Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Stock is trading at 0.64 times its book value
Weaknesses
2- Company has a low return on equity of 3.77% over last 3 years.
- Dividend payout has been low at 7.17% of profits over last 3 years
Growth Rate
AI Analysis — Bull vs Bear
Kirloskar Industries Ltd trades at a market cap of ₹4,390 Cr with a PE of 12.3x and a price-to-book of 0.70x, suggesting the stock is valued below its book value. The company has delivered a 5-year stock CAGR of 19% but shows weak profitability with 3-year average ROE of just 3% and muted recent profit growth.
- Stock trades at 0.70x book value, indicating significant discount to net asset value
- PE ratio of 12.3x is modest for an industrials conglomerate, suggesting undemanding valuations
- 5-year stock CAGR of 19% and 10-year stock CAGR of 19% demonstrate consistent long-term wealth creation
- 5-year compounded sales growth of 27% shows strong revenue expansion over a medium-term horizon
- Working capital days reduced from 49.0 days to 37.6 days, reflecting improved operational efficiency
- TTM sales growth of 5% and TTM profit growth of 11% indicate recent momentum in earnings outpacing revenue
- 10-year compounded sales growth of 20% demonstrates a sustained long-term revenue trajectory
- 3-year average ROE of just 3% is very low for an industrial company, indicating poor capital efficiency
- 3-year compounded profit growth is negative at -9%, showing earnings deterioration over the medium term
- 5-year compounded profit growth is flat at 0%, meaning no net earnings improvement over half a decade
- Dividend payout is only 8.04% of profits over last 3 years, offering minimal shareholder returns
- Dividend yield of just 0.32% provides negligible income to investors
- 1-year stock return of -3% shows recent underperformance and negative price momentum
- 3-year compounded sales growth of only 2% suggests revenue stagnation in the near term after a strong prior period
- Last year ROE of 3% and 5-year ROE of 5% remain well below cost of equity for most industrial peers
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- KFIL FY26 net profit up 73% Jun 12
Kirloskar Ferrous Industries reported FY26 net profit of ₹504.74 crore, up 73% YoY, with revenue rising to ₹6,888.57 crore supported by merger benefits.
- KFIL wins $13.51M export order Jun 18
Kirloskar Ferrous Industries secured a USD 13.51 million contract to supply 30,000 MT of pig iron to a London-based buyer, with shipment due by August 15, 2026.
- Independent director appointment Jun 12
Pallavi Gokhale co-opted as Additional Independent Director effective June 12, 2026, bringing over two decades of consulting and corporate governance experience.
- Investor meet scheduled Jun 24 Jun 19
Kirloskar Industries will hold a virtual investor meeting on June 24, 2026 with BristleStone Equity Fund and analysts.
- KFIL meets Molecule Ventures Jun 16
Material subsidiary KFIL held a 1x1 meeting with Molecule Ventures on June 18, 2026.
TL;DR: Kirloskar Industries is on solid footing driven by subsidiary KFIL's strong FY26 results (73% profit growth) and a meaningful export order worth $13.51M. No material headwinds emerged in the period. Active investor engagement and board strengthening signal confidence; the trend is improving with export diversification and post-merger earnings momentum as key catalysts to watch.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,508 | 1,578 | 1,554 | 1,729 | 1,559 | 1,688 | 1,614 | 1,748 | 1,698 | 1,782 | 1,624 | 1,817 | 1,772 |
| Expenses | 1,300 | 1,315 | 1,325 | 1,488 | 1,380 | 1,476 | 1,441 | 1,542 | 1,481 | 1,548 | 1,440 | 1,593 | 1,556 |
| Operating Profit | 209 | 263 | 228 | 240 | 179 | 212 | 172 | 206 | 217 | 233 | 184 | 225 | 216 |
| OPM % | 14% | 17% | 15% | 14% | 11% | 13% | 11% | 12% | 13% | 13% | 11% | 12% | 12% |
| Other Income | 10 | -25 | 14 | -19 | 12 | 19 | 12 | 39 | 11 | 13 | -11 | 44 | -12 |
| Interest | 30 | 30 | 30 | 32 | 34 | 37 | 39 | 36 | 34 | 33 | 29 | 30 | 29 |
| Depreciation | 47 | 58 | 64 | 73 | 61 | 64 | 66 | 67 | 64 | 68 | 68 | 69 | 69 |
| PBT | 142 | 150 | 148 | 116 | 96 | 130 | 79 | 142 | 130 | 145 | 75 | 170 | 105 |
| Tax % | 34% | 39% | 29% | 39% | 31% | 29% | 33% | 32% | -83% | 32% | 34% | 26% | 22% |
| Net Profit | 94 | 91 | 105 | 71 | 66 | 92 | 53 | 97 | 238 | 98 | 49 | 126 | 82 |
| EPS in Rs | 41.13 | 46 | 51.06 | 61.67 | 28.72 | 47.75 | 23.09 | 44.94 | 228 | 49.17 | 19.35 | 120 | 78.35 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,368 | 1,119 | 1,137 | 1,826 | 2,222 | 1,916 | 2,080 | 3,810 | 6,490 | 6,396 | 6,629 | 6,958 | 6,995 |
| Expenses | 1,222 | 970 | 968 | 1,674 | 1,962 | 1,650 | 1,598 | 3,125 | 5,603 | 5,430 | 5,834 | 6,083 | 6,137 |
| Operating Profit | 147 | 148 | 170 | 152 | 260 | 265 | 482 | 685 | 886 | 966 | 795 | 875 | 858 |
| OPM % | 11% | 13% | 15% | 8% | 12% | 14% | 23% | 18% | 14% | 15% | 12% | 13% | 12% |
| Other Income | 52 | 56 | 50 | 2 | 2 | 14 | 2 | 10 | 43 | -45 | 56 | 39 | 34 |
| Interest | 30 | 24 | 14 | 13 | 18 | 19 | 27 | 31 | 97 | 122 | 146 | 126 | 121 |
| Depreciation | 51 | 45 | 47 | 51 | 57 | 60 | 79 | 95 | 175 | 242 | 259 | 272 | 275 |
| PBT | 117 | 136 | 159 | 91 | 188 | 200 | 378 | 568 | 658 | 556 | 447 | 516 | 496 |
| Tax % | 27% | 26% | 25% | 25% | 30% | 25% | 18% | 44% | 30% | 35% | 31% | 2% | — |
| Net Profit | 86 | 100 | 119 | 68 | 132 | 151 | 311 | 316 | 460 | 361 | 308 | 503 | 356 |
| EPS in Rs | 63.5 | 74.46 | 77.66 | 51.1 | 86.6 | 98.77 | 169 | 198 | 220 | 202 | 143 | 217 | 266 |
| Div. Payout % | 32% | 27% | 26% | 41% | 24% | 10% | 6% | 5% | 5% | 6% | 9% | 6% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 11 |
| Reserves | 750 | 799 | 875 | 1,779 | 1,356 | 1,023 | 1,736 | 2,319 | 3,243 | 4,982 | 6,284 | 6,239 |
| Borrowings | 133 | 108 | 97 | 88 | 138 | 323 | 305 | 1,216 | 979 | 1,236 | 1,283 | 1,113 |
| Other Liabilities | 589 | 515 | 597 | 829 | 938 | 954 | 1,145 | 3,241 | 3,301 | 3,534 | 4,073 | 4,328 |
| Total Liabilities | 1,482 | 1,432 | 1,578 | 2,706 | 2,441 | 2,310 | 3,196 | 6,786 | 7,534 | 9,761 | 11,651 | 11,690 |
| Fixed Assets | 548 | 556 | 587 | 599 | 650 | 897 | 1,057 | 2,780 | 3,107 | 3,259 | 3,597 | 3,669 |
| CWIP | 31 | 8 | 19 | 76 | 62 | 144 | 243 | 418 | 423 | 768 | 653 | 753 |
| Investments | 422 | 511 | 505 | 1,423 | 933 | 541 | 1,068 | 1,190 | 1,575 | 3,392 | 4,730 | 4,399 |
| Other Assets | 480 | 357 | 467 | 608 | 796 | 728 | 828 | 2,398 | 2,429 | 2,342 | 2,672 | 2,869 |
| Total Assets | 1,482 | 1,432 | 1,578 | 2,706 | 2,441 | 2,310 | 3,196 | 6,786 | 7,534 | 9,761 | 11,651 | 11,690 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 156 | 104 | 88 | 107 | 112 | 185 | 256 | 317 | 760 | 576 | 600 | 871 |
| Investing | -56 | 6 | -51 | -31 | -108 | -258 | -194 | -211 | -369 | -600 | -537 | -471 |
| Financing | -101 | -113 | -28 | -87 | -4 | 108 | -56 | -56 | -397 | -5 | -70 | -355 |
| Net Cash Flow | -1 | -4 | 9 | -11 | 0 | 35 | 6 | 50 | -5 | -29 | -7 | 46 |
| Free Cash Flow | 97 | 70 | 14 | 19 | -52 | -134 | 36 | -111 | 345 | 84 | 96 | 421 |
| CFO/OP | 119 | 87 | 72 | 88 | 61 | 84 | 73 | 66 | 110 | 79 | 90 | 103 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 47 | 46 | 63 | 59 | 62 | 56 | 63 | 78 | 46 | 52 | 58 | 57 |
| Inventory Days | 52 | 57 | 76 | 64 | 66 | 77 | 94 | 138 | 111 | 113 | 108 | 102 |
| Days Payable | 91 | 84 | 102 | 105 | 116 | 122 | 122 | 149 | 101 | 95 | 103 | 112 |
| Cash Conversion Cycle | 8 | 19 | 37 | 17 | 12 | 11 | 35 | 66 | 55 | 70 | 63 | 47 |
| Working Capital Days | -25 | -6 | 14 | 3 | 30 | 38 | 34 | 72 | 47 | 52 | 57 | 58 |
| ROCE % | 13% | 14% | 14% | 6% | 10% | 12% | 19% | 15% | 13% | 11% | 7% | 7% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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62 extracted metrics + investor summaries across FY11–FY26.
Documents
Frequently Asked Questions about Kirloskar Industries
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Company Information
Kirloskar Industries Limited is the listed core investment company of the Kirloskar Group. Its consolidated operations are dominated by 46%-owned subsidiary Kirloskar Ferrous Industries Limited, an integrated ferrous manufacturer spanning iron ore, pig iron, castings, alloy steel and seamless tubes. KIL also owns Avante Spaces, which is developing Grade-A commercial real estate in Pune, and holds strategic listed stakes in Kirloskar Brothers, Kirloskar Oil Engines and Kirloskar Pneumatic. The parent’s standalone income is mainly dividends, interest and investment returns; consolidated analysis is necessary to capture KFIL and the real-estate investment cycle.
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