Kirloskar Oil Engines Ltd

Kirloskar Oil Engines Ltd

₹ 2,190 2.67%
31 Jul - close price
About

KOEL, one of the flagship companies of the Kirloskar group, manufactures and services diesel engines and diesel generator sets. The company also makes diesel, petrol and kerosene-based pump sets. It has manufacturing units in Pune, Kagal, and Nashik. The company caters to the agriculture, power generation, and industrial sectors.[1]

Key Points

Business Segments:[1]
a) B2B (74% in FY26 vs 72% in FY25):[2][3]
a) Powergen (47% in Q4 FY26 vs 45% in Q4 FY25):[4]
The company is among the world's largest manufacturers of power generating sets, with a 28% domestic market share. Its portfolio includes air-cooled and liquid-cooled engines and diesel generator sets ranging from 1 kW to 10 MW, compliant with CPCB noise and emission standards.
b) Industrial (24% in Q4 FY26 vs 24% in Q4 FY25): [4]
The company offers industrial engines
ranging from 20 HP to 13,500 HP and
power solutions for institutional customers
across marine, defence, nuclear, construction, earthmoving, agriculture, rail, material handling and fluid handling applications.
c) Distribution & Aftermarket (18% in Q4 FY26 vs 19% in Q4 FY25):[5]
The Distribution & Aftermarket business provides spares, finished products, services and after-sales support through service, direct and retail channels.
It has a network of 44 aftermarket dealers, 3,300+ service engineers, 500 service touchpoints, and 24x7 customer support
across India.

  • Market Cap 31,863 Cr.
  • Current Price 2,190
  • High / Low 2,720 / 856
  • Stock P/E 67.5
  • Book Value 231
  • Dividend Yield 0.32 %
  • ROCE 18.7 %
  • ROE 14.9 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 23.2% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 22.7%

Cons

  • Stock is trading at 9.49 times its book value

* 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 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
1,153 1,265 1,059 1,135 1,392 1,343 1,194 1,164 1,412 1,445 1,605 1,381 1,535
1,052 1,110 960 1,002 1,213 1,144 1,029 1,046 1,242 1,254 1,390 1,214 1,342
Operating Profit 101 154 99 133 179 199 165 118 171 190 214 167 193
OPM % 9% 12% 9% 12% 13% 15% 14% 10% 12% 13% 13% 12% 13%
9 7 6 6 8 9 12 6 29 12 12 -12 -1
Interest 1 1 2 2 3 3 3 3 4 3 3 2 3
Depreciation 22 21 24 26 26 25 27 32 34 34 36 36 39
Profit before tax 88 139 79 111 158 181 148 89 163 165 188 116 150
Tax % 26% 26% 26% 26% 26% 26% 25% 27% 26% 26% 25% 27% 26%
65 103 59 82 118 135 111 65 121 123 141 85 111
EPS in Rs 4.48 7.13 4.04 5.67 8.11 9.29 7.65 4.48 8.34 8.45 9.69 5.87 7.64
Raw PDF
Upcoming result date: 6 August 2026

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
2,507 2,463 2,670 2,832 3,203 2,877 2,694 3,300 4,116 4,851 4,521 5,647
2,258 2,186 2,388 2,567 2,851 2,636 2,411 3,031 3,689 4,286 3,930 4,912
Operating Profit 249 277 283 265 351 242 284 269 427 565 590 735
OPM % 10% 11% 11% 9% 11% 8% 11% 8% 10% 12% 13% 13%
58 49 83 69 61 54 16 77 27 27 100 33
Interest 0 9 3 3 4 4 6 6 5 8 11 11
Depreciation 102 111 111 109 73 67 62 77 85 97 114 143
Profit before tax 205 205 252 222 336 225 231 263 364 487 566 613
Tax % 30% 19% 31% 33% 33% 24% 27% 21% 26% 26% 24% 25%
143 165 174 150 225 170 170 208 270 362 432 461
EPS in Rs 9.90 11.43 12.01 10.38 15.56 11.78 11.74 14.38 18.67 24.95 29.75 31.72
Dividend Payout % 51% 44% 42% 48% 32% 34% 34% 28% 27% 24% 22% 22%
Compounded Sales Growth
10 Years: 9%
5 Years: 16%
3 Years: 11%
TTM: 25%
Compounded Profit Growth
10 Years: 13%
5 Years: 23%
3 Years: 22%
TTM: 24%
Stock Price CAGR
10 Years: 23%
5 Years: 55%
3 Years: 69%
1 Year: 151%
Return on Equity
10 Years: 11%
5 Years: 13%
3 Years: 14%
Last Year: 15%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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 29 29 29 29 29 29 29 29 29 29 29 29
Reserves 1,313 1,415 1,588 1,608 1,746 1,801 1,954 2,111 2,303 2,594 2,947 3,325
0 7 12 16 13 16 79 98 81 212 175 131
591 519 540 605 639 612 781 775 927 1,087 1,157 1,352
Total Liabilities 1,932 1,970 2,170 2,259 2,427 2,458 2,844 3,012 3,340 3,921 4,308 4,837
514 475 440 422 399 362 446 450 425 491 811 934
CWIP 21 29 15 30 41 74 55 39 66 243 96 144
Investments 876 793 990 931 994 1,101 1,534 1,672 1,693 1,876 1,787 1,648
521 673 725 876 993 920 809 850 1,156 1,311 1,613 2,111
Total Assets 1,932 1,970 2,170 2,259 2,427 2,458 2,844 3,012 3,340 3,921 4,308 4,837

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
339 98 172 167 146 228 526 194 260 434 489 511
-282 81 -190 8 -59 -159 -545 -899 -156 -418 -313 -321
-84 -176 2 -130 -94 -115 33 708 -101 50 -192 -143
Net Cash Flow -27 3 -15 45 -6 -47 14 3 4 66 -16 47
Free Cash Flow 274 20 115 60 101 152 398 114 139 158 270 196
CFO/OP 167% 52% 71% 94% 75% 122% 197% 93% 83% 96% 105% 90%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 8 24 27 42 40 46 48 44 41 43 53 51
Inventory Days 39 49 49 53 43 58 56 48 61 59 62 60
Days Payable 76 82 77 84 67 68 106 81 83 82 81 76
Cash Conversion Cycle -30 -10 -0 11 16 37 -2 11 20 20 33 34
Working Capital Days -24 8 20 21 12 31 -10 1 8 2 12 13
ROCE % 14% 13% 13% 11% 17% 10% 12% 10% 15% 18% 16% 19%

Insights

In beta
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 Apr 2027 (P) Mar 2029 (P)
Arka AUM (Assets Under Management)
₹ Crore

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Engine Production Capacity at Kagal
engines/year
Arka Active Branches
Number
Arka GNPA (Gross Non-Performing Assets)
%
KOEL Engine Volumes (Power Gen + Industrial)
units
Industry Diesel Generator Market Volume
units
R&D Expenditure (Percentage of Turnover)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

4 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
41.23% 41.22% 41.21% 41.18% 41.17% 41.17% 41.14% 41.13% 41.12% 41.09% 41.08% 41.06%
7.79% 9.06% 9.77% 9.98% 10.79% 10.99% 9.14% 8.47% 8.34% 8.45% 10.79% 11.33%
24.28% 24.37% 25.17% 25.42% 24.93% 25.04% 26.59% 27.21% 28.00% 28.21% 26.69% 26.00%
26.69% 25.36% 23.86% 23.40% 23.11% 22.81% 23.11% 23.20% 22.56% 22.26% 21.45% 21.61%
No. of Shareholders 72,79868,89177,5651,07,3231,21,4811,12,5401,09,9481,09,6071,03,2091,02,5161,06,6661,30,627

* 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.

Click on the line-items to see the names of individual entities.

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