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 54.3
  • Book Value 249
  • Dividend Yield 0.32 %
  • ROCE 14.6 %
  • ROE 17.5 %
  • Face Value 2.00

Pros

  • Company has delivered good profit growth of 25.1% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 18.9%

Cons

  • Stock is trading at 8.79 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

Consolidated Figures in Rs. Crores / View Standalone

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
1,384 1,543 1,305 1,391 1,660 1,632 1,505 1,454 1,749 1,764 1,948 1,873 2,116
1,196 1,277 1,103 1,133 1,357 1,307 1,207 1,199 1,437 1,437 1,567 1,541 1,741
Operating Profit 188 266 201 258 303 325 298 255 312 327 382 331 376
OPM % 14% 17% 15% 19% 18% 20% 20% 18% 18% 19% 20% 18% 18%
11 7 8 -24 23 18 19 11 36 39 13 -13 4
Interest 64 76 74 82 97 101 118 133 131 139 136 128 120
Depreciation 26 27 30 31 31 30 33 37 39 40 42 43 49
Profit before tax 109 170 105 122 198 211 166 95 179 187 216 148 210
Tax % 27% 26% 26% 26% 26% 26% 25% 28% 29% 26% 26% 26% 26%
79 126 78 89 147 156 125 68 127 139 159 109 155
EPS in Rs 5.45 8.67 5.38 6.20 10.25 10.98 8.79 4.91 9.03 9.77 11.18 7.66 10.91
Raw PDF
Upcoming result date: 6 August 2026

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
2,464 2,674 3,055 3,626 3,379 3,296 4,022 5,020 5,898 6,329 7,701
2,187 2,390 2,790 3,251 3,085 2,909 3,610 4,286 4,871 5,148 6,287
Operating Profit 277 283 265 376 295 387 412 734 1,027 1,181 1,414
OPM % 11% 11% 9% 10% 9% 12% 10% 15% 17% 19% 18%
49 83 72 63 52 17 27 29 16 92 44
Interest 9 3 12 13 14 50 106 210 329 482 523
Depreciation 111 111 123 94 87 84 101 105 119 139 174
Profit before tax 205 253 203 331 245 270 232 449 595 651 761
Tax % 19% 31% 33% 34% 23% 27% 26% 26% 26% 27% 26%
165 174 136 220 188 197 171 332 440 476 562
EPS in Rs 11.44 12.02 9.66 15.16 12.81 13.48 12.07 22.96 30.48 33.69 39.51
Dividend Payout % 44% 42% 52% 33% 31% 30% 33% 22% 20% 19% 18%
Compounded Sales Growth
10 Years: 12%
5 Years: 19%
3 Years: 15%
TTM: 22%
Compounded Profit Growth
10 Years: 16%
5 Years: 25%
3 Years: 22%
TTM: 43%
Stock Price CAGR
10 Years: 23%
5 Years: 55%
3 Years: 69%
1 Year: 151%
Return on Equity
10 Years: 13%
5 Years: 15%
3 Years: 17%
Last Year: 18%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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
Reserves 1,415 1,588 1,547 1,670 1,716 1,893 2,053 2,275 2,647 3,057 3,591
7 12 142 90 189 849 1,965 3,244 4,142 5,819 5,374
519 541 783 807 825 1,026 975 1,169 1,450 1,573 1,851
Total Liabilities 1,970 2,170 2,500 2,595 2,759 3,797 5,021 6,717 8,268 10,478 10,846
475 440 702 663 623 698 721 689 769 1,183 1,327
CWIP 29 15 30 41 78 55 43 69 293 98 149
Investments 791 988 675 711 433 834 738 658 489 601 440
674 727 1,093 1,180 1,626 2,210 3,519 5,302 6,718 8,597 8,930
Total Assets 1,970 2,170 2,500 2,595 2,759 3,797 5,021 6,717 8,268 10,478 10,846

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
99 171 136 192 -124 -16 -1,041 -920 -469 -739 932
82 -190 7 -38 233 -465 -3 -145 -109 -522 -320
-176 2 -96 -153 -43 599 950 1,182 800 1,510 -589
Net Cash Flow 6 -16 48 1 67 118 -93 117 223 248 23
Free Cash Flow 22 114 26 139 -206 -120 -1,165 -1,081 -846 -996 595
CFO/OP 52% 71% 83% 83% -16% 8% -233% -109% -31% -49% 79%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 23 27 48 41 45 49 43 38 38 40 45
Inventory Days 49 49 64 49 69 68 54 64 67 60 61
Days Payable 82 77 91 69 70 106 80 79 83 72 78
Cash Conversion Cycle -10 -0 21 21 43 10 17 23 22 28 28
Working Capital Days 7 20 17 13 47 -0 13 4 -49 -33 -2
ROCE % 13% 10% 17% 12% 13% 10% 13% 15% 14% 15%

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 ・Standalone data
Arka Active Branches
Number
Arka GNPA (Gross Non-Performing Assets)
%
KOEL Engine Volumes (Power Gen + Industrial)
units ・Standalone data
Industry Diesel Generator Market Volume
units ・Standalone data
R&D Expenditure (Percentage of Turnover)
% ・Standalone data

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.

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