Kirloskar Oil Engines Ltd
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]
- 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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 |
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| Arka Active Branches Number |
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| Arka GNPA (Gross Non-Performing Assets) % |
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| KOEL Engine Volumes (Power Gen + Industrial) units ・Standalone data |
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| Industry Diesel Generator Market Volume units ・Standalone data |
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| R&D Expenditure (Percentage of Turnover) % ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
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Board Meeting Intimation for Notice Of Board Meeting
29 Jul - Board meeting on 6 August 2026 to approve Q1 FY27 standalone and consolidated results.
- Closure of Trading Window 29 Jul
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Reg. 34 (1) Annual Report.
14 Jul - Re-submitted FY 2025-26 annual report and AGM notice; only cover image changed.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
14 Jul - Regulation 74(5) compliance certificate for dematerialisation requests for quarter ended 30 June 2026.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 14 Jul
Annual reports
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Financial Year 2026
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Concalls
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May 2026Transcript PPT REC
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May 2024TranscriptAI SummaryPPT
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Oct 2015TranscriptPPT
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.