Kirloskar Industries Ltd
Kirloskar Industries Limited is the listed core investment company of the Kirloskar Group.
Its consolidated operations are dominated
by 46%-owned subsidiary Kirloskar Ferrous Industries Limited, an integrated ferrous manufacturer spanning iron ore, pig iron, castings, alloy steel and seamless tubes.
KIL also owns Avante Spaces, which is developing Grade-A commercial real
estate in Pune, and holds strategic
listed stakes in Kirloskar Brothers,
Kirloskar Oil Engines and Kirloskar
Pneumatic. The parent’s standalone
income is mainly dividends, interest
and investment returns; consolidated
analysis is necessary to capture KFIL
and the real-estate investment cycle.
- Market Cap ₹ 3,947 Cr.
- Current Price ₹ 3,774
- High / Low ₹ 4,575 / 2,456
- Stock P/E 14.4
- Book Value ₹ 4,672
- Dividend Yield 0.34 %
- ROCE 1.91 %
- ROE 1.45 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Stock is trading at 0.81 times its book value
- Company has been maintaining a healthy dividend payout of 17.4%
Cons
- Company has a low return on equity of 1.73% over last 3 years.
- Working capital days have increased from 27.6 days to 69.5 days
* 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 Products Iron & Steel Products
Part of BSE Industrials BSE 1000
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
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 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 60 | 76 | 48 | 72 | 46 | 86 | 55 | 100 | 114 | 120 | 119 | 124 | 3,648 | |
| 7 | 7 | 10 | 20 | 17 | 17 | 21 | 18 | 18 | 27 | 23 | 29 | 3,159 | |
| Operating Profit | 53 | 69 | 38 | 52 | 29 | 69 | 34 | 82 | 96 | 93 | 96 | 95 | 489 |
| OPM % | 88% | 90% | 80% | 72% | 63% | 80% | 62% | 82% | 84% | 77% | 80% | 77% | 13% |
| 2 | 0 | 0 | 0 | 32 | 0 | 3 | 3 | 1 | 14 | 9 | 7 | 46 | |
| Interest | 0 | 0 | 0 | 2 | 1 | 1 | 2 | 2 | 1 | 2 | 1 | 1 | 60 |
| Depreciation | 1 | 1 | 1 | 2 | 3 | 3 | 3 | 3 | 2 | 2 | 2 | 2 | 140 |
| Profit before tax | 54 | 68 | 37 | 49 | 57 | 65 | 32 | 80 | 93 | 102 | 101 | 99 | 335 |
| Tax % | 17% | 12% | 23% | 14% | 13% | 8% | 16% | 24% | 20% | 27% | 23% | 22% | |
| 45 | 60 | 29 | 42 | 50 | 59 | 27 | 61 | 74 | 75 | 78 | 77 | 254 | |
| EPS in Rs | 46.48 | 62.06 | 29.69 | 43.69 | 51.00 | 61.23 | 28.01 | 62.22 | 74.96 | 75.17 | 75.21 | 73.28 | 241.57 |
| Dividend Payout % | 43% | 32% | 67% | 48% | 41% | 16% | 36% | 16% | 15% | 17% | 17% | 18% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 5% |
| 5 Years: | 18% |
| 3 Years: | 3% |
| TTM: | 104% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 2% |
| 5 Years: | 22% |
| 3 Years: | -1% |
| TTM: | -9% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | 22% |
| 3 Years: | 3% |
| 1 Year: | 1% |
| Return on Equity | |
|---|---|
| 10 Years: | 3% |
| 5 Years: | 2% |
| 3 Years: | 2% |
| Last Year: | 1% |
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 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 11 |
| Reserves | 683 | 721 | 750 | 1,650 | 1,194 | 828 | 1,405 | 1,604 | 2,181 | 3,862 | 5,098 | 4,900 |
| 0 | 0 | 0 | 16 | 11 | 12 | 13 | 11 | 12 | 13 | 7 | 7 | |
| 37 | 20 | 22 | 7 | 12 | 16 | 12 | 16 | 51 | 264 | 525 | 488 | |
| Total Liabilities | 729 | 751 | 781 | 1,682 | 1,227 | 866 | 1,439 | 1,641 | 2,253 | 4,149 | 5,639 | 5,406 |
| 6 | 6 | 13 | 38 | 42 | 43 | 38 | 39 | 34 | 35 | 35 | 11 | |
| CWIP | 0 | 0 | 0 | 2 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 597 | 686 | 680 | 1,598 | 1,109 | 716 | 1,244 | 1,403 | 1,854 | 3,848 | 5,218 | 4,889 |
| 125 | 59 | 88 | 44 | 76 | 107 | 158 | 198 | 365 | 267 | 386 | 505 | |
| Total Assets | 729 | 751 | 781 | 1,682 | 1,227 | 866 | 1,439 | 1,641 | 2,253 | 4,149 | 5,639 | 5,406 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -5 | -13 | -16 | -22 | -45 | -18 | -28 | -26 | -66 | -36 | -40 | -41 | |
| 10 | 56 | 19 | 39 | 69 | 79 | 31 | 16 | 90 | 7 | -25 | 48 | |
| -4 | -43 | -1 | -21 | -23 | -32 | -0 | -10 | -10 | 14 | 61 | -15 | |
| Net Cash Flow | 0 | 0 | 3 | -3 | 1 | 29 | 2 | -20 | 15 | -15 | -4 | -8 |
| Free Cash Flow | -5 | -13 | -16 | -51 | -47 | -21 | -28 | -29 | -66 | -37 | -40 | -42 |
| CFO/OP | 0% | -7% | -15% | -19% | -135% | -16% | -56% | -10% | -16% | -16% | -22% | -18% |
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 | 0 | 2 | 14 | 5 | 1 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 0 | 2 | 14 | 5 | 1 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Working Capital Days | -159 | 25 | 53 | 44 | 336 | 255 | 551 | 107 | 110 | 4 | 9 | 70 |
| ROCE % | 8% | 10% | 5% | 4% | 4% | 6% | 3% | 5% | 5% | 3% | 2% | 2% |
Insights
In beta| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Iron Castings Sales Volume (KFIL subsidiary) MT |
|
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| Pig Iron Sales Volume (KFIL subsidiary) MT |
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| Seamless Tubes Sales Volume (KFIL subsidiary, post-ISMT acquisition) MT |
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| Steel Sales Volume (KFIL subsidiary, post-ISMT acquisition) MT |
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Extracted by Screener AI
Documents
Announcements
- Intimation Of Cut-Off / Record Date For Postal Ballot
-
Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s
- AGM on 18 August 2026 approved Kirtane & Pandit LLP’s five-year statutory auditor re-appointment till 2031.
-
Shareholder Meeting / Postal Ballot-Scrutinizer''s Report
- 32nd AGM resolutions passed; Rs.13 dividend approved, auditors and directors reappointed on 18 August 2026.
- Shareholder Meeting / Postal Ballot-Outcome of AGM
-
Update Of Material Subsidiary
- Kirloskar Ferrous Q1 FY27 earnings call transcript; management discussed production, margins, capex and project timelines.
Annual reports
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Annual Report 2026
from bse
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Annual Report 2025
from bse
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Annual Report 2024
from bse
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Annual Report 2023
from bse
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Annual Report 2022
from bse
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Annual Report 2021
from bse
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Annual Report 2020
from bse
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Annual Report 2019
from bse
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Annual Report 2018
from bse
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Annual Report 2017
from bse
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Annual Report 2016
from bse
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Annual Report 2015
from bse
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Annual Report 2014
from bse
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Annual Report 2013
from nse
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Annual Report 2013
from bse
Holding-plus - Operating group:[1][2][3]
FY26 standalone revenue
from operations of ₹106 Cr.
consisted mainly of:
Dividend income: ₹67 crore
Interest income: ₹32 crore
Fair-value gains: ₹8 crore
Consolidated revenue was
₹6,939 crore because KIL
controls Kirloskar Ferrous
Industries Limited and wholly
owns Avante Spaces. Avante
Spaces contributed only ₹8 Cr.