Kennametal India Ltd

₹ 2,225 -3.91%

09 Mar - close price

kennametal.com BSE: 505890 NSE: KENNAMET

About

Kennametal India Ltd was incorporated in 1938, it is a 75% subsidiary of Kennametal Inc. It manufactures carbide tools and special-purpose machines for automotive, defense, railways, infrastructure and General engineering segments. The manufacturing unit is in Bengaluru.^[1]^[2]

Key Points

Business segments & Revenue Split FY23

Website BSE NSE

Market Cap ₹ 4,890 Cr.
Current Price ₹ 2,225
High / Low ₹ 2,745 / 1,932
Stock P/E 43.9
Book Value ₹ 365
Dividend Yield 1.80 %
ROCE 17.6 %
ROE 12.9 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.
Company has been maintaining a healthy dividend payout of 65.1%

Cons

Company has a low return on equity of 13.1% 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.

Peer comparison

Industrials Capital Goods Industrial Manufacturing Industrial Products

Part of BSE Allcap BSE Industrials

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	275	256	279	258	271	269	302	270	287	290	323	296	334
	237	225	243	223	228	224	254	228	246	250	274	243	289
Operating Profit	38	30	36	35	43	45	49	42	41	40	49	53	45
OPM %	14%	12%	13%	14%	16%	17%	16%	16%	14%	14%	15%	18%	13%
	1	1	1	2	2	18	3	3	3	4	4	2	2
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	9	10	11	10	11	11	11	12	11	12	12	12	12
Profit before tax	30	22	27	26	33	52	40	34	32	33	41	43	35
Tax %	26%	29%	30%	35%	25%	26%	24%	26%	31%	26%	24%	28%	31%
	22	16	19	17	25	38	30	25	22	24	31	31	24
EPS in Rs	9.96	7.10	8.51	7.78	11.33	17.43	13.79	11.37	10.10	11.10	14.24	14.29	11.10
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2014	Jun 2015	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025	TTM
	545	570	570	652	793	927	641	811	991	1,077	1,100	1,170	1,243
	494	510	524	594	692	791	580	691	812	926	929	998	1,056
Operating Profit	51	60	46	58	101	136	61	120	179	152	171	172	187
OPM %	9%	11%	8%	9%	13%	15%	10%	15%	18%	14%	16%	15%	15%
	-5	12	9	0	0	14	15	8	9	5	24	14	13
Interest	0	0	0	0	0	0	1	0	0	0	1	0	0
Depreciation	27	26	24	28	28	28	34	38	36	39	44	46	47
Profit before tax	20	46	31	30	73	122	40	89	153	118	151	140	153
Tax %	13%	28%	32%	20%	28%	29%	20%	26%	25%	25%	27%	27%
	17	34	21	24	52	86	32	67	114	88	110	103	112
EPS in Rs	7.77	15.25	9.44	11.09	23.80	39.27	14.79	30.30	51.92	39.90	50.28	46.82	50.73
Dividend Payout %	0%	13%	21%	18%	8%	5%	0%	66%	46%	50%	60%	86%

Compounded Sales Growth
10 Years:	7%
5 Years:	13%
3 Years:	6%
TTM:	10%

Compounded Profit Growth
10 Years:	13%
5 Years:	22%
3 Years:	-5%
TTM:	5%

Stock Price CAGR
10 Years:	12%
5 Years:	15%
3 Years:	2%
1 Year:	-2%

Return on Equity
10 Years:	13%
5 Years:	14%
3 Years:	13%
Last Year:	13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2014	Jun 2015	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025	Dec 2025
Equity Capital	22	22	22	22	22	22	22	22	22	22	22	22	22
Reserves	311	340	355	372	417	497	528	551	624	666	712	725	780
	0	0	0	0	0	10	13	0	0	3	3	2	2
	96	117	130	144	199	226	125	191	184	160	191	217	226
Total Liabilities	430	478	507	537	638	755	688	765	830	851	927	967	1,030
	114	101	107	146	154	184	247	225	215	275	294	273	274
CWIP	5	6	16	3	21	67	32	52	77	34	8	8	6
Investments	0	0	0	51	0	0	2	2	0	0	0	0	0
	310	371	383	338	462	504	408	486	538	542	626	685	750
Total Assets	430	478	507	537	638	755	688	765	830	851	927	967	1,030

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2014	Jun 2015	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
	11	61	17	77	63	84	28	155	49	116	114	145
	-8	-17	-42	-45	-55	-139	-32	-24	-48	-45	-23	-4
	-0	-5	-5	-5	-5	4	2	-57	-53	-45	-67	-89
Net Cash Flow	3	38	-30	27	2	-51	-2	73	-51	26	24	52

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2014	Jun 2015	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Debtor Days	72	71	76	62	66	57	46	51	50	48	59	59
Inventory Days	120	115	137	114	136	150	208	173	195	149	168	172
Days Payable	57	75	86	89	92	93	60	86	75	46	68	65
Cash Conversion Cycle	135	111	127	87	109	114	194	138	170	151	160	166
Working Capital Days	86	79	90	57	57	68	96	62	88	82	101	88
ROCE %	9%	11%	8%	9%	20%	25%	8%	16%	25%	17%	19%	18%

Insights

In beta

Jun 2015

Jun 2016

Jun 2017

Jun 2018

Jun 2019

Jun 2020

Jun 2021

Jun 2022

Jun 2023

Jun 2024

Jun 2025

Export Share of Total Revenue
%

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Hard Metal Products Segment Share of Revenue
%

Machining Solutions Group (MSG) Segment Share of Revenue
%

Number of Permanent Employees
Number

RD&E Expenditure as % of Turnover
%

Number of Distributors/Dealers
Number

Imported Raw Material & FG as % of Total Cost
%

R&D Expenditure (Percentage of Turnover)
%

Shareholding Pattern

Numbers in percentages

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%
	0.63%	0.71%	0.87%	0.98%	0.96%	1.00%	0.91%	0.93%	0.88%	0.93%	0.87%	0.38%
	12.80%	13.20%	13.04%	13.17%	13.45%	13.56%	13.54%	13.71%	13.72%	13.78%	13.95%	14.19%
	11.59%	11.09%	11.09%	10.85%	10.58%	10.43%	10.55%	10.35%	10.41%	10.30%	10.18%	10.43%
No. of Shareholders	13,872	12,767	14,144	13,438	11,527	10,993	11,036	10,973	11,116	11,734	11,493	11,201

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Dec 2025
	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%
	0.00%	0.23%	1.29%	1.07%	0.78%	0.69%	0.63%	0.96%	0.88%	0.38%
	15.32%	15.25%	12.09%	12.84%	12.91%	12.94%	12.80%	13.45%	13.72%	14.19%
	9.68%	9.52%	11.62%	11.09%	11.31%	11.37%	11.59%	10.58%	10.41%	10.43%
No. of Shareholders	6,413	6,275	7,649	8,039	8,604	14,767	13,872	11,527	11,116	11,201

* 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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