Kirloskar Brothers Ltd

Kirloskar Brothers Ltd

₹ 1,690 10.22%
15 May - close price
About

Kirloskar Brothers is a part of the Kirloskar Group engaged in the business of engineering and manufacturing of systems for fluid management. The core businesses include large infrastructure projects (Water Supply, Power Plants, and Irrigation), Pumps, Valves, Motors and Hydro turbines. [1] [2]

Key Points

Product Offerings[1]
The company has 250+ product categories with 100,000+ SKUs catering to 12+ industries and 2500+ customers.

  • Market Cap 13,417 Cr.
  • Current Price 1,690
  • High / Low 1,783 / 526
  • Stock P/E 55.0
  • Book Value 183
  • Dividend Yield 0.27 %
  • ROCE 22.9 %
  • ROE 18.0 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 22.9% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 24.5%

Cons

  • Stock is trading at 9.24 times its book value
  • The company has delivered a poor sales growth of 4.11% over past five years.
  • Company has a low return on equity of 13.7% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
642 398 485 521 763 542 592 612 794 581 595 644 900
555 380 462 492 675 518 552 537 689 527 543 572 736
Operating Profit 87 18 22 29 88 24 40 75 105 54 52 72 163
OPM % 14% 4% 5% 6% 11% 5% 7% 12% 13% 9% 9% 11% 18%
-2 4 15 7 -15 2 3 -1 15 4 10 4 16
Interest 3 4 3 4 4 4 4 4 3 3 0 1 1
Depreciation 9 10 10 11 10 10 10 11 11 11 12 13 13
Profit before tax 73 8 24 22 58 12 28 59 107 45 50 62 166
Tax % 26% 28% 27% 18% 35% 36% 27% 25% 26% 25% 29% 27% 22%
54 6 17 18 37 8 20 44 80 34 35 46 129
EPS in Rs 6.84 0.71 2.19 2.24 4.71 1.01 2.58 5.60 10.01 4.24 4.42 5.74 16.25
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,855 1,745 1,611 1,639 1,735 1,935 2,223 2,097 1,800 2,166 2,540 2,720
1,707 1,598 1,524 1,573 1,629 1,800 2,061 1,926 1,626 2,009 2,294 2,378
Operating Profit 148 148 87 66 106 135 162 171 173 157 246 342
OPM % 8% 8% 5% 4% 6% 7% 7% 8% 10% 7% 10% 13%
0 -2 9 20 18 18 25 19 14 11 18 35
Interest 44 41 41 38 32 25 26 30 24 16 14 6
Depreciation 32 35 50 41 40 35 37 40 38 41 42 49
Profit before tax 72 70 6 7 53 92 124 120 125 111 207 322
Tax % 40% 32% -54% -45% 38% 29% 30% 34% 25% 30% 26% 25%
43 48 8 11 33 66 87 79 93 78 153 243
EPS in Rs 5.48 6.01 1.07 1.36 4.16 8.26 11.00 9.97 11.74 9.84 19.22 30.65
Dividend Payout % 37% 42% 47% 37% 24% 30% 23% 25% 26% 30% 23% 20%
Compounded Sales Growth
10 Years: 5%
5 Years: 4%
3 Years: 15%
TTM: 7%
Compounded Profit Growth
10 Years: 17%
5 Years: 23%
3 Years: 37%
TTM: 52%
Stock Price CAGR
10 Years: 21%
5 Years: 61%
3 Years: 82%
1 Year: 218%
Return on Equity
10 Years: 9%
5 Years: 12%
3 Years: 14%
Last Year: 18%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 16 16 16 16 16 16 16 16 16 16 16 16
Reserves 763 784 780 790 822 880 924 961 1,052 1,110 1,236 1,436
268 224 238 254 189 165 160 309 143 243 125 49
861 906 894 895 917 1,004 1,073 1,053 1,037 982 1,008 1,056
Total Liabilities 1,908 1,930 1,928 1,955 1,944 2,064 2,173 2,339 2,248 2,351 2,385 2,557
309 310 310 296 292 281 280 305 299 351 336 430
CWIP 7 3 7 6 3 12 24 48 72 21 78 24
Investments 215 215 233 239 239 273 298 337 463 565 491 527
1,377 1,401 1,377 1,414 1,411 1,498 1,572 1,650 1,414 1,413 1,479 1,577
Total Assets 1,908 1,930 1,928 1,955 1,944 2,064 2,173 2,339 2,248 2,351 2,385 2,557

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
173 114 108 50 118 148 83 212 243 78 249 209
-32 -15 -71 -21 -21 -60 -61 -139 -178 -140 -6 -89
-144 -96 -44 -24 -91 -52 -47 89 -199 62 -155 -113
Net Cash Flow -3 3 -7 5 6 36 -25 161 -134 -1 89 6

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 70 71 89 79 72 72 77 59 71 66 53 60
Inventory Days 54 44 72 76 95 101 101 132 128 116 109 121
Days Payable 134 126 155 144 151 143 148 142 160 125 113 124
Cash Conversion Cycle -10 -10 6 11 15 30 30 49 39 57 49 57
Working Capital Days 69 72 76 72 58 56 58 44 33 48 36 72
ROCE % 11% 11% 5% 4% 8% 11% 14% 13% 12% 12% 17%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
65.95% 65.95% 65.95% 65.95% 65.95% 65.95% 65.95% 65.95% 65.95% 65.95% 65.95% 65.95%
1.40% 1.42% 1.48% 1.67% 1.67% 1.53% 1.56% 1.59% 1.78% 3.50% 3.88% 4.11%
10.12% 9.53% 9.05% 9.05% 9.02% 9.01% 8.95% 9.27% 8.98% 9.31% 9.40% 9.77%
22.52% 23.10% 23.52% 23.33% 23.36% 23.52% 23.55% 23.18% 23.29% 21.23% 20.77% 20.18%
No. of Shareholders 22,58722,45122,35622,52522,52122,99525,39725,30134,53241,23840,36343,058

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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